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Materials management refers to the process of planning, organizing, and controlling the flow of materials and supplies within an organization to ensure the efficient production of goods and services. It is an integral part of the overall supply chain management process and involves the handling of materials from procurement to storage and distribution. Materials management seeks to optimize the use of materials, minimize costs, and ensure that production activities are carried out without interruptions due to a shortage or excess of materials. The scope of materials management is extensive, covering various areas of material handling, storage, and movement within an organization. It encompasses the management of raw materials, components, finished goods, spare parts, and other supplies required for manufacturing and service operations. Materials management also extends to the coordination between departments such as procurement, production, inventory control, and distribution to ensure smooth and cost-effective operations. By maintaining the balance between supply and demand, materials management helps an organization to avoid overstocking or stockouts, thereby improving both the efficiency and profitability of the business. The basic functions of materials management include the following: 1. Procurement: This is the process of acquiring raw materials, components, and other necessary materials from suppliers. Effective procurement ________ _________ _________ _______ _________ ___ _____ ________ ______ _______ _________.
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