MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES

Milan Milenkovic Premium 63 PAGES (14232 WORDS) Project 642 Views
Background: In most organizations within the country (Ghana), materials management has
been relegated to the background without any proper control. This means
that companies are investing heavily in materials than is necessary.
Problem: How can materials management minimize the cost of supplies in
Cocoa Processing Company of Ghana?
Purpose: The aim of this research is to illustrate how the application of
materials management concept can minimize the cost of supplies in Cocoa
Processing Company of Ghana.
Methods: With regards to primary data, interviews (face-to-face, telephone) and questionnaire
were used. Secondary data has been sourced through literature from the university
library and internet sources, qualitative design method was chosen over others
because of the nature of the research work.
Conclusion: Financially, materials (inventories) are very important to manufacturing companies
and on the balance sheet they usually represent from twenty to sixty percent of total
assets. Therefore, if the application of the concept of materials management is
accepted with well qualified personnel, it could lead to the minimization of cost. The
function of a materials manager is to promote coordination and integration within the
supply chain and the major benefits are assumed to be; reduction in interdepartmental
conflicts, reduction of inventory levels, increased knowledge of total corporate
operations and reduction of materials handling costs among others.
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APA

Milan, M (2018). MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES. Afribary.com: Retrieved July 16, 2018, from http://dubz-by-dan.co.uk/works/materials-management-and-its-effect-on-cost-of-supplies-144

MLA 8th

Milenkovic, Milan. "MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES" Afribary.com. Afribary.com, 29 Jan. 2018, http://dubz-by-dan.co.uk/works/materials-management-and-its-effect-on-cost-of-supplies-144 . Accessed 16 Jul. 2018.

MLA7

Milenkovic, Milan. "MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES". Afribary.com, Afribary.com, 29 Jan. 2018. Web. 16 Jul. 2018. < http://dubz-by-dan.co.uk/works/materials-management-and-its-effect-on-cost-of-supplies-144 >.

Chicago

Milenkovic, Milan. "MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES" Afribary.com (2018). Accessed July 16, 2018. http://dubz-by-dan.co.uk/works/materials-management-and-its-effect-on-cost-of-supplies-144