materials management

Question 1

 A process encomposing acquisition, shipping, receiving,
evaluation, warehousing and distribution of goods,
supplies and equipment.

Answer 1

materials mgmt

Question 2

aim og mm

Answer 2

The right quality
 Right quantity of supplies
 At the right time
 At the right place
 For the right cos

Question 3

To gain economy purchasing

Answer 3

PURPOSE OF MATERIALS MANAGEMENT

Question 4

To satisfy the demand during period of replenishment

Answer 4

purpose of mm

Question 5

 To carry reserve stock to avoid out

Answer 5

purpose of mm

Question 6

 To stabilize fluctuations in consumption

Answer 6

purpose of mm

Question 7

 To have adequate materials on hand when needed

Answer 7

BASIC NEED OF MATERIAL MANAGEMENT

Question 8

 To pay the lowest possible prices, consistent wish
quality and value requirement for purhases materials

Answer 8

basic need of mm

Question 9

 To minimize the inventory investment to operate
efficiently

Answer 9

basic need of MM

Question 10

Demand estimation

Answer 10

elements of MM

Question 11

 Identify the needed items

Answer 11

elements of MM

Question 12

 Calculate from the trends in consumption during last 2
years

Answer 12

ELEMENTS OF MM

Question 13

 Review with resource constraints

Answer 13

ELEMENT OF MM

Question 14

FUNCTION OF MM

Answer 14

Material planning and programming
 Procurement ( purchasing and outsourcing)
 Inventory control
 Store keeping and warehousing
 Codification
 Standardization and evaluation of all products
 Transportation and material handling
 Inspection and quality control
 Cost reduction through value analysis
 Disposal of surplus/ obsolete material
 Distribution

Question 15

 Based on need assessment

Answer 15

PROCUREMENT PRINCIPLE

Question 16

ULTIMATE AIM OF PROCUREMENT PRINCIPLES

Answer 16

Ultimate Aim: Right quality, right quantity, right prices,
right source and right time to the right place.

Question 17

 Centralize the purchase system

Answer 17

PROCUREMENT PRINCIPLE

Question 18

 Back up of good systems management

Answer 18

PROCUREMENT PRINCIPLE

Question 19

OBJECTIVES OF PROCUREMENT SYSTEM

Answer 19

Acquire needed supplies as inexpensively as possible
 Obtain high quality supplies
 Assure prompt & dependable delivery
 Distribute the procurement workload to avoid pend of
idleness &
 Optimize inventory

Question 21

PROCUREMENT CYCLE

Answer 21

 Review selection
 Determine needed quantities
 Reconcile need & funds
 Choose procurement method
 Select suppliers
 Specify contract terms
 Monitor order status
 Receipt & inspection

Question 22

POINTS TO REMEMBER WHILE PURCHASING

Answer 22

Proper specification
 Invite quotations from reputed firms
 Comparison of offers based on basic price, freight &
insurance, taxes and
 Quantity & payment discounts
LAB MANAGEMENT
LECTURE / FIRST SEMESTER SY 2023-2024
 Payment terms
 Delivery period guarantee
 Vendor reputation ( reliability, technical capabilities,
convenience, availability)
 Short listing for better negotiation terms
 Seek order acknowledgement

Question 23

FINDING THE RIGHT SOURCE

Answer 23

 Supplies catalogue
 Print media: trade directories, trade journals , news
paper papers, yellow pages
 Sales person: many advantages
 Trade exhibition, fairs, conferences
 Colleagues in similar fields
 Interne

Question 24

NEGATION PRINCIPLE

Answer 24

Not to purchase on listed price  Negotiate bulk price  Always ask for discount  Price protection  Credit

Question 25

Establish written protocols, assign responsibility

Answer 25

RECEIBING

Question 26

Checking of goods for quality, expiry etc.  Cross check with purchase order & invoice/ delivery  Proper record in designed registers  Signature of receiver & delivery person  Periodic check

Answer 26

RECEIVING

Question 27

MUST BE FOLLOWED IN STORAGE

Answer 27

First- in, first- out principle to be followed

Question 28

Follow to avoid stock cut

Answer 28

two bin double shelf system,

Question 29

should contain stock that will cover lead time and a small safety stock.

Answer 29

RESERVE BIN

Question 30

Scientific system which indicates  What to order  When to order  How much to order  How much to stock

Answer 30

INVENTORY CONTROL

Question 31

FUNCTION OF INVENTORY CONTROL

Answer 31

Stock to ensure uninterrupted supplies  The idle resources which have future economics value  Cushion between estimated and actual demand of material

Question 32

MEANING OF ABC IN ABC ANALYSIS

Answer 32

always better control

Question 33

 This based on cost criteria

Answer 33

abc analysis

Question 34

elps to exercise selective control when confronted with large number of items, to rationalize the number of orders, number of items & reduce the inventor

Answer 34

abc analysis

Question 35

Must have: Tight control, Rigid estimate of requirements, strict closer watch and managed by top management

Answer 35

a items

Question 36

Must have: Moderate control, Purchase based on rigid reqs., reasonably strict watch & control, moderate safel

Answer 36

b items

Question 37

MUST HAVE: control measure, purchase based on usage estimate

Answer 37

c items

Question 38

shortage cannot be circulate

Answer 38

vital

Question 39

shortage can be tolerated for a short period

Answer 39

essential

Question 40

 : shortage will not adversely affect, but may be using resources. These must be strictly scrutinized.

Answer 40

Desirable

Question 41

Maintain big safety stocks

Answer 41

SDE ANALYSIS

Question 42

BASED ON AVAILABIITY

Answer 42

SDE ANALYSIS

Question 43

BASED ON UTILIZATION

Answer 43

FSN ANALYSIS

Question 44

BASED ON COST PER UNIT

Answer 44

HML ANALYSIS

Question 45

used to keep control over consumption at department level for deciding the frequency.

Answer 45

HML ANALYSIS

Question 46

CATEGORIZATION AND CODIFICATION

Answer 46

Time consuming very helpful in long run  Make stock taking easier  Helps keeping track of movements of goods  Design registers according to requirements & volume of turn over.

Question 47

2 METHODS OF DISTRIBUTION

Answer 47

REQUISITION, PER LEVEL

Question 47

as and when required

Answer 47

REQUISITION

Question 48

l: periodic replenishing to a certain fixed level.

Answer 48

PER LEVEL

Question 49

 Have security against data tempering

Answer 49

COMPUTERIZATION

Question 50

PROCUREMENT OF EQUIPMENT

Answer 50

 Point to holed before purchase of an equipment  Latest technology  Availability of maintenance & repair facility with minimum down time  Upgrade ability  Reputed manufacturer  Availability of consumables  Low operating cost  Install action  Proper installation per guidelines

Question 51

PROCEDURE FOR CONDEMNATION AND DISPOSAL

Answer 51

 The equipment has become:  Non- functional & beyond economical repair  Non- functional & obsolete  Functional, but hazardous  Functional but no longer required

Question 52

PROCEDURE OF DISPOSAL

Answer 52

 Circulate to other units, where it is needed  Return to the vendor, if wiling to accent  Sell to agencies,scrap dealer etc.  Local destruction AUCTION

Question 52

PROCEDURE FOR CONCEMNATION

Answer 52

 Verify records  History sheet of equipment  Log book of maintenance & repair  Performance record of equipment  Put up in proper form & to the proper authority