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19 Cards in this Set

  • Front
  • Back
what activities are included in material management

7
purchasing
warehousing
materials planning and control
traffic
receiving
quality control
salvage and scrap disposal
abc analysis
not all inventory are created equal

rank inventory
mrp
materials planning and control process

1 year to plan
warehousing and stores
open air facilities
warehouse
stores (stock room)
open air facilities
basic raw materials

sand
coal
warehouse
components and semi-finished
stores (stock room)
frequently used items

light bulbs
office supplies
materials planning and control process
customer demand (finish goods)
minus finished goods inventory

production of finished goods

raw material needed

minus raw material inventory

raw materials purchased
purchasing
determine materials needs

locate source of supply

select suppliers

establish acceptable price and set terms of sale

follow up of purchase until delivery
criteria for purchasing
design specifications (tolerances)
chemical and physical properties
dependability
ease of maintenance
ease of use
dimensions
brand, market grade, industry standard
when to order more than necessary
must be ordered at a minimum

volume price breaks

low value parts

order jointly with other parts

used in a broad range

transportation encourage quantity

high degree of uncertainty in delivery or continuity
what factors are used in selecting a vendor

in order of importance
quality
reliability
capability
financial considerations
methods of vendor evaluation
categorical
weighted
cost-ratio
categorical method
each vendor is given a plus, minus, or neutral rating

overall grade

ratings given by every department

develop census
weighted score method
numerical and weighted scores to indicate importance of factors

acceptable and unacceptable ranges set
cost-ratio method
identifies all identifiable purchasing costs and compares them to the value of shipments received from individual suppliers
best price
looks to future

price quotations and price lists
f.o.b. origin
buyer takes care of transportation
f.o.b. destination
seller takes care of transportation