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LABMAN FINALS > materials management > Flashcards

materials management Flashcards

1
Q

 A process encomposing acquisition, shipping, receiving,
evaluation, warehousing and distribution of goods,
supplies and equipment.

A

materials mgmt

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2
Q

aim og mm

A

The right quality
 Right quantity of supplies
 At the right time
 At the right place
 For the right cos

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3
Q

To gain economy purchasing

A

PURPOSE OF MATERIALS MANAGEMENT

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4
Q

To satisfy the demand during period of replenishment

A

purpose of mm

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5
Q

 To carry reserve stock to avoid out

A

purpose of mm

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6
Q
A
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6
Q

 To stabilize fluctuations in consumption

A

purpose of mm

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7
Q

 To have adequate materials on hand when needed

A

BASIC NEED OF MATERIAL MANAGEMENT

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8
Q

 To pay the lowest possible prices, consistent wish
quality and value requirement for purhases materials

A

basic need of mm

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9
Q

 To minimize the inventory investment to operate
efficiently

A

basic need of MM

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10
Q

Demand estimation

A

elements of MM

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11
Q

 Identify the needed items

A

elements of MM

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12
Q

 Calculate from the trends in consumption during last 2
years

A

ELEMENTS OF MM

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13
Q

 Review with resource constraints

A

ELEMENT OF MM

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14
Q

FUNCTION OF MM

A

Material planning and programming
 Procurement ( purchasing and outsourcing)
 Inventory control
 Store keeping and warehousing
 Codification
 Standardization and evaluation of all products
 Transportation and material handling
 Inspection and quality control
 Cost reduction through value analysis
 Disposal of surplus/ obsolete material
 Distribution

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15
Q

 Based on need assessment

A

PROCUREMENT PRINCIPLE

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16
Q

ULTIMATE AIM OF PROCUREMENT PRINCIPLES

A

Ultimate Aim: Right quality, right quantity, right prices,
right source and right time to the right place.

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17
Q

 Centralize the purchase system

A

PROCUREMENT PRINCIPLE

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18
Q

 Back up of good systems management

A

PROCUREMENT PRINCIPLE

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19
Q

OBJECTIVES OF PROCUREMENT SYSTEM

A

Acquire needed supplies as inexpensively as possible
 Obtain high quality supplies
 Assure prompt & dependable delivery
 Distribute the procurement workload to avoid pend of
idleness &
 Optimize inventory

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20
Q
A
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21
Q

PROCUREMENT CYCLE

A

 Review selection
 Determine needed quantities
 Reconcile need & funds
 Choose procurement method
 Select suppliers
 Specify contract terms
 Monitor order status
 Receipt & inspection

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22
Q

POINTS TO REMEMBER WHILE PURCHASING

A

Proper specification
 Invite quotations from reputed firms
 Comparison of offers based on basic price, freight &
insurance, taxes and
 Quantity & payment discounts
LAB MANAGEMENT
LECTURE / FIRST SEMESTER SY 2023-2024
 Payment terms
 Delivery period guarantee
 Vendor reputation ( reliability, technical capabilities,
convenience, availability)
 Short listing for better negotiation terms
 Seek order acknowledgement

23
Q

FINDING THE RIGHT SOURCE

A

 Supplies catalogue
 Print media: trade directories, trade journals , news
paper papers, yellow pages
 Sales person: many advantages
 Trade exhibition, fairs, conferences
 Colleagues in similar fields
 Interne

24
Q

NEGATION PRINCIPLE

A

Not to purchase on listed price
 Negotiate bulk price
 Always ask for discount
 Price protection
 Credit

25
Q

Establish written protocols, assign responsibility

A

RECEIBING

26
Q

Checking of goods for quality, expiry etc.
 Cross check with purchase order & invoice/ delivery
 Proper record in designed registers
 Signature of receiver & delivery person
 Periodic check

A

RECEIVING

27
Q

MUST BE FOLLOWED IN STORAGE

A

First- in, first- out principle to be followed

28
Q

Follow to avoid stock cut

A

two bin double shelf system,

29
Q

should contain stock that will cover lead
time and a small safety stock.

A

RESERVE BIN

30
Q

Scientific system which indicates
 What to order
 When to order
 How much to order
 How much to stock

A

INVENTORY CONTROL

31
Q

FUNCTION OF INVENTORY CONTROL

A

Stock to ensure uninterrupted supplies
 The idle resources which have future economics value
 Cushion between estimated and actual demand
of material

32
Q

MEANING OF ABC IN ABC ANALYSIS

A

always better control

33
Q

 This based on cost criteria

A

abc analysis

34
Q

elps to exercise selective control when confronted
with large number of items, to rationalize the number of
orders, number of items & reduce the inventor

A

abc analysis

35
Q

Must have: Tight control, Rigid estimate of
requirements, strict closer watch and managed by top
management

A

a items

36
Q

Must have: Moderate control, Purchase based on rigid
reqs., reasonably strict watch & control, moderate
safel

A

b items

37
Q

MUST HAVE: control measure, purchase based on usage
estimate

A

c items

38
Q

shortage cannot be circulate

A

vital

39
Q

shortage can be tolerated for a short period

A

essential

40
Q

 : shortage will not adversely affect, but may be
using resources. These must be strictly scrutinized.

A

Desirable

41
Q

Maintain big safety stocks

A

SDE ANALYSIS

42
Q

BASED ON AVAILABIITY

A

SDE ANALYSIS

43
Q

BASED ON UTILIZATION

A

FSN ANALYSIS

44
Q

BASED ON COST PER UNIT

A

HML ANALYSIS

45
Q

used to keep control over consumption at
department level for deciding the frequency.

A

HML ANALYSIS

46
Q

CATEGORIZATION AND CODIFICATION

A

Time consuming very helpful in long run
 Make stock taking easier
 Helps keeping track of movements of goods
 Design registers according to requirements & volume of
turn over.

47
Q

2 METHODS OF DISTRIBUTION

A

REQUISITION, PER LEVEL

47
Q

as and when required

A

REQUISITION

48
Q

l: periodic replenishing to a certain fixed level.

A

PER LEVEL

49
Q

 Have security against data tempering

A

COMPUTERIZATION

50
Q

PROCUREMENT OF EQUIPMENT

A

 Point to holed before purchase of an equipment
 Latest technology
 Availability of maintenance & repair facility with
minimum down time
 Upgrade ability
 Reputed manufacturer
 Availability of consumables
 Low operating cost
 Install action
 Proper installation per guidelines

51
Q

PROCEDURE FOR CONDEMNATION AND DISPOSAL

A

 The equipment has become:
 Non- functional & beyond economical repair
 Non- functional & obsolete
 Functional, but hazardous
 Functional but no longer required

52
Q

PROCEDURE OF DISPOSAL

A

 Circulate to other units, where it is needed
 Return to the vendor, if wiling to accent
 Sell to agencies,scrap dealer etc.
 Local destruction
AUCTION

52
Q

PROCEDURE FOR CONCEMNATION

A

 Verify records
 History sheet of equipment
 Log book of maintenance & repair
 Performance record of equipment
 Put up in proper form & to the proper authority

LABMAN FINALS (6 decks)

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