What is Materials Management?
In the past decade only, this management has gained a lot of the importance as before that the same was realised by the management of the organisation but the same was avoided at the various times under the pressure from the various other resources that needed to be done on the priority as compared to the management of the materials. It was after when the organisations realised that there was a large amount of the wastage that was taking place as at the certain point of the time the company or the firm was not at all knowing what all of the resources the organisation was having and all that was required to be purchased, the resources that the organisation was having were not being used as they were not in the knowledge of the firm and instead of all this, the products that were already present, were being purchased and all that were needed to be purchased were not being bought by the organisation. Hence in the other words it can be said that the organisation must be having the complete form of the knowledge of the various types of the materials that are with the organisation and all that needs to be purchased and all that need not to be purchased.