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.
Disclaimer: Note this academic material is intended as a guide for your academic research work. Do not copy word for word. Note: For Computer or Programming related works, some works might not contain source codes
CITE THIS WORK
(2017, 05). Materials Management And Its Effect On Cost Of Supplies.. ProjectStoc.com. Retrieved 05, 2017, from https://projectstoc.com/read/8506/materials-management-and-its-effect-on-cost-of-supplies-144
"Materials Management And Its Effect On Cost Of Supplies." ProjectStoc.com. 05 2017. 2017. 05 2017 <https://projectstoc.com/read/8506/materials-management-and-its-effect-on-cost-of-supplies-144>.
"Materials Management And Its Effect On Cost Of Supplies.." ProjectStoc.com. ProjectStoc.com, 05 2017. Web. 05 2017. <https://projectstoc.com/read/8506/materials-management-and-its-effect-on-cost-of-supplies-144>.
"Materials Management And Its Effect On Cost Of Supplies.." ProjectStoc.com. 05, 2017. Accessed 05, 2017. https://projectstoc.com/read/8506/materials-management-and-its-effect-on-cost-of-supplies-144.
- Related Works
- Variety Reduction As A Tool For Effective Materials Control (a Case Study Of Nigeria Bottling Company Plc)
- The Impact Of Industrial Conflict On The Achievement Of Purchasing Goals And Objectives
- The Impact For Efficient Negotiation In Purchasing Function In Manufacturing Company A Case Study Of Roksna Industry Plc
- The Impact Of Purchasing Of Banking Services In Competitive Environment (a Case Study Of Oceanic Bank And Union Bank Plc)
- The Impact Of Material Management On Purchasing
- Purchasing Concept On The Business Perforamnce Of Hotel In Owerri Metropolis (a Case Study Of Cordial Hotel Owerri)
- The Ethical And Social Responsibility Of The Purchasing Practice In Industries. (a Case Study Of Golden Guinea Brewery Plc Umuahia Abia State).
- The Impact Of Environmental Factor On Purchasing Business Strategies In An Organization (a Case Study Of Selected Purchasing Business Like Abc Transport Company Owerri Imo State)
- Negotiation As A Cost Reduction Tool In Materials Purchases (a Case Study Of Asaba Tex Nigeria Limited)
- The Effectiveness Of Product Innovation As An Tool Of Achieving Competitive Adventage In The Purchasing Environment (a Case Study Of Unilever Nigeria Plc Aba)