Financial management and materials department, Financial Management

Assignment Help:

Financial Management and Materials Department

The materials management is of utmost importance in a manufacturing firm and covers the areas such as procurement, storage, maintenance and supply of materials and stores. This entails keeping the material in good condition and sufficient quantity so that the production schedule continues smoothly. The inventory of any items is required to be maintained at an optimum level, Level. Neither excessive nor inadequate.

The financial management and materials management interact with each other and the financial management has a specific role to play. It is no denying tile fact that, generally, the materials constitute a substantial portion of the cost of production which can be controlled and possibly can be reduced also by keeping a strict vigil on the financial implications of material movement in the firm. The finance manager and the materials manager may come together while determining the Economic Order Quantity, Safety Level, .storing Place requirements, Stores Personnel requirements, etc. The cost aspects of all the decisions are to be evaluated against the expected savings. For this, the finance manager has to come forward to help the materials manager.


Related Discussions:- Financial management and materials department

Sources of finance, Classification of finance and abrief description of eac...

Classification of finance and abrief description of each source of fund

Analysis of financial plans, Part 1: Contingency plan Create contingency pl...

Part 1: Contingency plan Create contingency plans for the following scenarios: > One of your highly qualified consultants has given three months notice and is planning to move to a

Explain the working of insurance companies, Insurance companies The pri...

Insurance companies The primary purpose of insurance companies is to protect individuals and firms known as policy-holders from adverse events. Insurance companies receive prem

Comparative financial statement analysis, 1 In the process of considering t...

1 In the process of considering two job offers, Jill Saunders wants to determine which position would have the higher monetary value. Job 1 has a salary of $42,500 with $4,800 of n

The main characteristics of debt and equity, QUESTION i) Distinguish be...

QUESTION i) Distinguish between intermediated and market finance using illustrative examples. ii) Differentiate between the main characteristics of Debt and Equity. iii)

Liquidity mix, I am facing some problems in my assignment of Liquidity Mix....

I am facing some problems in my assignment of Liquidity Mix. Can anybody suggest me the proper explanation for it?

Graphic presentation of net operating income approach, Q. Graphic Presentat...

Q. Graphic Presentation of Net Operating Income Approach ? Graphic Presentation of NOI (Net Operating Income) Approach: - NOI (Net Operating Income) approach is explained graph

Explain the sensitivity analysis of burley plc, Sensitivity analysis A ...

Sensitivity analysis A sensitivity analysis studies the impact of specified variations in key factors on the initially-calculated NPV. The initial point for a sensitivity analy

Operating cycle , using the operating cycle and any other financial managem...

using the operating cycle and any other financial management knowledge,discuss the applicabilty of such cycle to poultry

What is adjusted basis, Q. What is Adjusted Basis? Adjusted Basis - Aft...

Q. What is Adjusted Basis? Adjusted Basis - After a taxpayer's basis in property is determined, it should be adjusted upwardto include any additions of capital to the property

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd