Mathews, K C; Dr.Pylee,M V(Cochin University of Science and Technology, October , 1979)
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Abstract:
One of the basic functions of management is to employ
capital efficiently so as to provide maximum customer service
and earn a profit in the proces1s. It is possible to achieve
these objectives in different ways with the given amount of
capital, either by maximising the output or by maximising
the margin of profit or by a combination of both these methods.
This would mean that the management must try to make this
capital work as fast as possible, which is often difficult to
achieve under the present conditions of the factors of
production. It is also not possible to increase extensively
the margin of profit due to competition in business and in this
process the capital turn over and productivity of capital often
becomes totally ineffective. Several modern techniques have been developed and employed by managers to remedy this situation. Among these, materials management has become one of the most effective methods to achieve both the above goals. Materials management enables a manager to improve productivity of capital by reducing material costs, preventing blocking up of large working capital for long periods and improving the capital turn over This study examines the working of materials management departments in public sector undertakings in India and Suggests méthods to improve its efficiency.
Description:
School of Mangement Studies, Cochin University of Science and Technology