MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES

Background: In most organizations within the country (Ghana), materials management has

been relegated to the background without any proper control. This means

that companies are investing heavily in materials than is necessary.

Problem: How can materials management minimize the cost of supplies in

Cocoa Processing Company of Ghana?

Purpose: The aim of this research is to illustrate how the application of

materials management concept can minimize the cost of supplies in Cocoa

Processing Company of Ghana.

Methods: With regards to primary data, interviews (face-to-face, telephone) and questionnaire

were used. Secondary data has been sourced through literature from the university

library and internet sources, qualitative design method was chosen over others

because of the nature of the research work.

Conclusion: Financially, materials (inventories) are very important to manufacturing companies

and on the balance sheet they usually represent from twenty to sixty percent of total

assets. Therefore, if the application of the concept of materials management is

accepted with well qualified personnel, it could lead to the minimization of cost. The

function of a materials manager is to promote coordination and integration within the

supply chain and the major benefits are assumed to be; reduction in interdepartmental

conflicts, reduction of inventory levels, increased knowledge of total corporate

operations and reduction of materials handling costs among others.

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APA

Milenkovic, M. (2018). MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES. Afribary. Retrieved from https://track.afribary.com/works/materials-management-and-its-effect-on-cost-of-supplies-144

MLA 8th

Milenkovic, Milan "MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES" Afribary. Afribary, 29 Jan. 2018, https://track.afribary.com/works/materials-management-and-its-effect-on-cost-of-supplies-144. Accessed 27 Nov. 2024.

MLA7

Milenkovic, Milan . "MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES". Afribary, Afribary, 29 Jan. 2018. Web. 27 Nov. 2024. < https://track.afribary.com/works/materials-management-and-its-effect-on-cost-of-supplies-144 >.

Chicago

Milenkovic, Milan . "MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES" Afribary (2018). Accessed November 27, 2024. https://track.afribary.com/works/materials-management-and-its-effect-on-cost-of-supplies-144

MATERIALS MANAGEMENT AND ITS EFFECT ON COST OF SUPPLIES

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