UGC Approved Journal no 63975

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 6 Issue 6
June-2019
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR1908B72


Registration ID:
233865

Page Number

564-571

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Title

TECHNIQUES OF MATERIAL MANAGEMENT AS A COST REDUCTION TOOL IN CONSTRUCTION INDUSTRY

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Abstract

The material management is a process, or an art and science put together. It is how a project is designed and how the materials are estimated. It is how materials are acquired and how even the packaging is specified. It is how the delivery schedule is designed. It is how contractors plan use of the materials and how they manage previously used materials. It also includes how waste is managed for use elsewhere rather than being discarded or in landfill. Materials are one of the major constituents of the construction industry. Depending on the type of project, materials cost usually varies from 40% to 70% of the total project cost, highlighting the importance of materials management. It has been recognized that material department can contribute effectively to corporate profits, as purchasing is considered a spending function and every rupee saved in buying goes to profit column of balance sheet. It can be noted that the materials function accounts for a major portion of cash out flow in any organization. Therefore, material management is not a simple function but a dynamic discipline, which can contribute greatly to corporate profitability, resulting in the growth of economy. Enterprise Resource Planning (ERP) packages have been in use for decades, but changes in business and IT strategies are driving implementations, re implementations, and new utilization of existing functionality in current systems. Though most organizations with ERP systems have gained skills in system integration and project management, as well as specific system capabilities, they should not expect an easy time either selecting a team with the requisite skills or completing these typically large projects.

Key Words

material management, cost reduction, cost control, inventory management

Cite This Article

"TECHNIQUES OF MATERIAL MANAGEMENT AS A COST REDUCTION TOOL IN CONSTRUCTION INDUSTRY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 6, page no.564-571, June 2019, Available :http://www.jetir.org/papers/JETIR1908B72.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"TECHNIQUES OF MATERIAL MANAGEMENT AS A COST REDUCTION TOOL IN CONSTRUCTION INDUSTRY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 6, page no. pp564-571, June 2019, Available at : http://www.jetir.org/papers/JETIR1908B72.pdf

Publication Details

Published Paper ID: JETIR1908B72
Registration ID: 233865
Published In: Volume 6 | Issue 6 | Year June-2019
DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.23755
Page No: 564-571
Country: udaipur, Rajasthan, India .
Area: Engineering
ISSN Number: 2349-5162


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