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   Steps in Material Control

Steps in Material Control

The material control is guaranteed through laying down proper methods for Storing, Purchasing, Issuing and minimizing material losses through identifying slow moving, obsolete, dormant material and also through minimizing scrap, wastages, spoilages and defectives. These steps are discussed below.

A. Purchasing and Receiving: Purchase procedure different from business to business, but all of them follow a usual pattern or technique. There should be an appropriate Purchase Procedure to make sure that at right time right type of material is purchased, and that should be in right quantity, at right place and at right prices.

B. Storing of Materials: Through the purchase department, the material purchased is sent to stores before it is issued for production. So storing of material can be termed as an intermediate step in the material control. there is no requirement for storing the materials, If an organization practices Just in Time inventory system, if not there is a requirement that there is a well-organized stores department in the company which will take care of the storing material.

C. Issue Control: other significant aspect of material control is the issue control. Material is issued to production and greatest care is to be taken when issuing the material. The first thing is that material should not be issued to any department with no authorization. A Material Requisition Note is prepared through the department that is in requirement of the material and sent to the stores department. It is a written request created to the stores department for sending the material. The details of the material required like the quantity, quality, date through which it is needed etc, in the Material Requisition Note.

D. Material Losses: One of the major reasons of increasing material costs is the loss of material within the production process. It is of paramount significance that there should be fixed control over the material losses failing that it will be very hard to keep the material costs in check.

E. Inventory Turnover Ratio: There are various items in the store that are slow moving the meaning of that is they are issued to the production after a long time gap. A few items are like that they are never issued to the production because they have become obsolete or outdated and require to be disposed off. For make out these items, it is essential to calculate the inventory turnover ratio. Inventory turnover ratio allows the management to prevent the capital being locked in such types of items. This ratio points out the inefficiency or efficiency by which inventories are maintained.

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