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
- The Impact Of Industrial Conflict On The Achievement Of Purchasing Goals And Objectives
- Effect Of Specification On Cost Reduction
- The Effect Of Material Handling On The Profitability Of An Organization
- The Impact Of Inventory Management On Service Delivery In Public Health Facilities: A Case Study Kidera Health Centre Iii
- The Role Of Purchasing In The Service Industries (a Case Study Of Selected Laundry And Dry Cleaning Firms In Enugu Metropolis)
- The Impact For Efficient Negotiation In Purchasing Function In Manufacturing Company A Case Study Of Roksna Industry Plc
- Influence Of Internal Control Measures In The Managemet Of Stores Department. (a Case Study Of Kenya Wildlife Service Meru Station)
- 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)
- The Impact Of Exchange Rate Fluctuation On International Trade (export) In Nigeria
- The Effect Of Purchasing Segmentation As A Tool For Achieving Organizations Sales Objectives A Case Study Of Nigeria Breweries Company Plc, Owerri Imo State