MATERIAL MANAGEMENT- 
     MEANING
      Material management is the planning, directing, 
       controlling  and  co-ordination  of  all  those 
       activities    concerned       with     material     and 
       inventory requirements, from the point of their 
       inception       to     their     introduction      into 
       manufacturing process
      According to N.K. Nair, “ it is the integrated 
       functioning  of  the  various  sections  of  an 
       organization  dealing  with  the  supply  of 
       materials  and  allied  activities  in  order  to 
       achieve maximum co-ordination
    Objectives of Materials Management
  Low prices
  High inventory turnover
  Low cost acquisition and possession
  Continuity of supply
  Consistency of quality
  Low payroll costs
  Favorable supplier relation
  Development of personnel
  Good records
  FUNCTIONS OF MATERIALS 
  MANAGEMENT
   Planning Function
   Production Control
   Purchasing
   Inventory and Stores Control
   Receiving and Stores
   Shipping
   Material Handling
   Traffic
     Importance of Materials Management
      Regular supply of the material is ensured, reducing the chances 
       of any interruption in production process
      Procurement  costs  and  transportation  cost  associated  with 
       materials are checked
      Efficient store and stock control minimizes waste of material 
      Inspection of material at the time of procurement minimizes 
       the  possibility  of  finished  product  being  rejected  by  the 
       consumer
      Timely supply of raw material and other inputs can be assured
      Better utilization of labor, capital and equipment
  PURCHASING - MEANING
    Purchasing  is  the  procuring  of  materials, 
    supplies, machines, tools and services required 
    for equipment, maintenance and operation of a 
    manufacturing plan