What are the objectives of codification, standardization and simplification? better communication. Codification is used to properly classify equipment's, raw materials, components and spares to suit the particular needs of any organisation. * Secrecy of materials. In spite of the above mentioned limitations, the ABC analysis is very popular method of inventory control. A company has devised a system of codification in which the first three digits indicate the nature of the expenditure and the last three digits the cost centre or cost unit to be charged e.g. 3.How is the reorder point determined? Disadvantages. Codification is helpful to prevent duplication and multiplicity of stores and the mistakes which are caused by the normal practice of describing the material. 2. What are the advantages and . better and faster decision making. A codification system must aim at satisfying as many of the above mentioned objectives as possible and the codes evolved will depend upon the nature of industry, items of stores and the management policy. DISADVANTAGES OF CODING The mistakes may be in writing codes and it is difficult to find out correct codes. * Eliminating the chances of wrong issue. What are the objectives of codification, standardization and simplification How does standardization lead to variety reduction Discuss the advantages . 9. 1. MANAGEMENT Production and Operations Management. The advantages and disadvantages of decentralized versus centralized systems are discussed, and criteria for selecting hardware and software vendors are presented. Codification of processes within an ERP system ensures proper numbering of processes. This technique can be successfully employed only, if there is proper standardization of materials in the store. (d) Use of OR techniques in Materials Management SECTION C- (5X4=20 MARKS) Answer any five questions All questions carry equal marks 1.Explain the objectives of materials management? 3. Classification is the systematic division, grouping, or categorization of materials or items based on some common characteristic.. How does standardization lead to variety reduction? Every element of cost has to be effectively controlled. Write short notes on the following : (a) Stores Layout (b) Traffic Management. What is "DGS&D". Second, poor response rate or concerns over . Inconveniences and delays are caused in supplying materials to departments situated at a distance from the central . Based on nature, stores are classified into specific groups as shown below: * Raw materials * Components * Consumable stores * Spare parts * Tools * Packing materials * Work-in-process What is reorder level? The following are some of the advantages of combining materials and purchase departments in an organization. Codification in materials management is better known as the identification of materials. Codification is helpful to prevent duplication and multiplicity of stores and the mistakes which are caused by the normal practice of describing the material. What are the advantages and disadvantages of codification? Advantages & Disadvantages of FASB & SEC. It is not something which we change every quarter or every other year. List of Disadvantages of Recycling. Classification of materials can be performed on different bases (e.g., nature, manufacturing process, value, and purpose). tmadmin Material Management 16 Material Management What are the objectives of codification, standardization and simplification How does standardization lead to variety reduction Discuss the advantages SECTION A- (10X2=20 MARKS) Answer any ten questions. 3.How is the reorder point determined? Therefore, the long term requirements of materials for the organization should be kept in mind while providing the digits or alphabets for the items. Establishment of cost centers: A cost centre is a location, person or item of equipment for which costs may be ascertained and used for the purpose of cost control.The cost centers divide an entire organisation into convenient parts for costing purpose. 3.How is the reorder point determined? Disadvantages of Codification The mistakes may be in writing codes and it is difficult to find out correct codes. 2. Numerical codification ADVERTISEMENTS: 3. The common methods of store codification are as follows: 1. Explain how a performance appraisal system can be used in the context of materials management. All questions carry equal marks. The principal objective of Materials Management is to obtain raw materials, tools, general supplies, etc., at the appropriate time. It is always advisable to codify the overhead expenses. When large number of codes is used for different materials, there may be confusion and it may be difficult to locate the materials without knowing the codes. 4. Another of the disadvantages of CMMS is that an over reliance on it can negate the advantage that any organization has of its own experience and history of the machines that it employs. ADVANTAGES AND DISADVANTAGES OF TACIT: Advantages: it is very important in knowledge management because overall information and benefits come from tacit knowledge only. ABC Analysis of Materials: It enables the management to plan efforts to get. improved business processes. What is Material Management planning The function responsible for the sourcing coordination purchasing moving of planning, storingcontrolling sourcing, purchasing, moving, storing and cost controlling materials inminimum an optimum manner so as to provide a predecided service to the customer at a minimum cost. It is a powerful approach in the direction of cost reduction, as it helps to control items required for production with a selective approach. 1. Advantages of Standardization All the sections of company will be benefited from standardization as… Subsequent to the adoption of pre-Codification FASB Statement No. SAP PS (Project System) is an integrated project management tool used for planning and managing projects. It is the process of establishing standards or units of measure by which extent, quality, quantity, value, performance etc., may be compared and measured. (internal consultants Advantages 4 marks / Disadvantages 4 marks; external consultants - Advantages 4 marks / Disadvantages 4 marks) Using the advantage and disadvantage below and give example for each of them, and give one more advantage, two more . In this manner, firms are able to maintain a continuous flow of processes or functions without confusion (Leoncini & Montresor, 2007). What is the significance of reorder point to the production . *Quick and easy identification of materials. of all material stakeholders. Classification and Codification of Materials: For proper recognition of materials, there should be appropriate classification and codification of materials. direct care above and beyond the . Disadvantages of ABC System of Inventory Control. Disadvantages of Construction Management. Some of the disadvantages are as follows: When the costs are fixed, the business has to manufacture a certain number of units to reach break-even. Codification is a process of representing each item by a number, the digits of which indicate the group, the subgroup, the type and the dimension of the item. Materials Management: Most manufacturing concerns spend more than 60% of the money they take in, for materials, i.e., materials soak up a substantial portion of the capital invested in an industrial concern. Q17. Procurement at the right time. What is inventory? Shortcomings and disadvantages of Descriptive Analysis The survey method which is considered as the best approach for collection of descriptive data is open to criticisms as well. Standardization in Material Management Standardization means producing maximum variety of products from the minimum variety of materials, parts, tools and processes. Material Management What are the duties and responsibilities of store keeping SECTION A- (10X2=20 MARKS) . 3. This type of layout is suitable when one or a few pieces of identical heavy products are to be manufactured and when the assembly consists of large number of heavy parts, the cost of . Define Inventory control? Law and Equity. An integrated management system is an effective organizational approach to simplify the work, to avoid conflicts and to reduce duplication of documents. sharing of specialist expertise. Names of materials are simplified by choosing symbols which are simple, clear and free from duplication. Sameer Dhurat. Advantages and disadvantages of partial codification of directors' duties in the South African Companies Act 71 of 2008 . Essay mill meaning :: common ielts essay topics & samples . It is the process of establishing standards or units of measure by which extent, quality, quantity, value, performance etc., may be compared and measured. A good knowledge management system will make it easy to find and reuse relevant information and resources across your business. When large number of codes is used for different materials, there may be confusion and it may be difficult to locate the materials without knowing the codes. 3. 2, such an impact proved to be difficult to document. Codification brings greater certainty of law in a legal system. The article enlists all the key reference materials like - the pdf notes, reference books, study materials, and important questions on Industrial Management to improvise and amplify every student's comprehension and understanding of the subject during the time of examination. In this type of layout, the material, or major components remain in a fixed location and tools, machinery, men and other materials are brought to this location. Here are a number of problems in survey method. It raises difficulties of interpretation and give rise to several meanings. 2.How will you classify materials in a manufacturing concern? How does standardization lead to variety reduction? What is the significance of reorder point to the production . 5. 1.0 INTRODUCTION According to Macgrathy (2008) classification and codification of materials are steps in maintaining stores in a systematic . Important Codification Systems: The two important coding systems are the Kodak and the Brisch system. UNIT IV . Advantages 5. Discuss the advantages and disadvantages of Standardization. Codification is helpful to prevent duplication and multiplicity of stores and the mistakes which are caused by the normal practice of describing the material. Explain how a performance appraisal system can be used in the context of materials management. Flexibility: A codification system, should last a long time to derive proper benefits from it. 8 Common Methods of of Store Management and Codification. Barcode scanner or reader works with computers or POS terminals. Consider the following questions as you respond: What are the advantages and disadvantages of expensing R&D, and what effect would such policy have on current and future expenditures? How are these significant for proper material management ? Codes are inadequate, as they are not capable of dealing with all perspective cases. Classification and codification of materials are steps in maintaining stores in a systematic way. For example, if a business has a fixed manufacturing overhead of $1,000 and the product's sell price is $10/ unit, then the number of units that needed to be produced will be $1000 . Essentials 4. 2. 1. 2) Statutory law is rigid and applicable irrespective of the crime. 1) Legislation is the best and most reliable source of law. 1. Barcodes do not have read/write capabilities. The article briefs students and keeps you updated to the current . This refers to some of the fundamental principles of law that govern the way in which power is . The nature of production and operations, the organisational structure, etc. While Construction Management may be beneficial in some circumstances, owners should recognize that it may also have some disadvantages. Tacit knowledge tends to transfer knowledge directly from one person to another, later knowledge play vital role. It is important to note that standardization has . 4. Avoiding duplicity of items Another common mistake in stock control is the duplicity of items in the count, which causes problems, especially at the time of inventory. Codification helps in easy identification of different items of overheads. Advantages of Legislation -. What are the disadvantages of codification? The Review led to the enactment of the Companies Act 2006 which was a codification exercise of common law directors' duties. Explain the different types of contracts that are generally awarded by the DGS & D. Q19 What is "Codification of Materials". Classification of Materials. 3. b) Explain why quality should be better by following the "TQM" concept than in a system that depends on final inspection. What are the objectives of codification? . . quicker problem-solving. 6. What are its Advantages and Disadvantages? These are separated into different groups such as metals and fabrics. These are separated into different groups such as metals and fabrics. SAP PS offers a large panel of functionalities: Project structuring. Greater risk of loss by fire due to the concentration of all materials in one location. 2.How will you classify materials in a manufacturing concern? Introduction Standardization is defined as a process whereby which a company makes its methods, mostly due to its production process, and uniformity throughout the organization. Material management is Material Management is an end to end (E2E) scientific technique of planning, organizing and control of flow of materials from its purchase to final destination The term for material management is water tank analogy where consist of supply rate and inventory level Explain how a performance appraisal system can be used in the context of materials management. By codification long description of materials is avoided. if the first digit is 1, the system implies that it refers to raw material and if the number is 2 it represents a labour cost. What are the metrics of performance appraisal in materials . References Image Source: Wikimedia Other important factors one ignored. Posted by UniProjects.Net under Project Topics and Materials. An example of such coding practice is evidenced in numbering of materials, current stocks and pricing. (3)M-C503 2 (3)M-C503 3 370 7. After reading this article you will learn about the procedures for materials, purchase and stores management. What are the objectives of codification and classification ? 4. a) Why is purchasing such an important part of materials management? (d) Use of OR techniques in Materials Management SECTION C- (5X4=20 MARKS) Answer any five questions All questions carry equal marks 1.Explain the objectives of materials management? Introduction to Material Control: A major objective of Cost accounting is Cost Control. Standardization assists with cost cutting by removing a duplicated effort and enables the organization to take advantage of the economies of scale when making purchases. MATERIALS , PURCHASE & STORE MANAGEMENT. More pollution and energy consumption. Advantages And Disadvantages Of An MRP System. What is the significance of reorder point to the production . Explain, using four (4) examples each of the advantages and disadvantages of employing internal versus external change management consultants. 8. Disadvantages of Codification in Law It makes the law rigid and prevents its further growth. Integrating management systems may possibly . 4) Legislation makes new law to the society. 3. Mnemonic […] Advantages Of Classification And Codification Of Materials. (a) Integrated Materials Management (b) Problems and risks in vendor networking (c) Manufacturing Resources Planning (MRP II) (d) Use of OR techniques in Materials Management SECTION C- (5X4=20 MARKS) Answer any five questions All questions carry equal marks 1.Explain the objectives of materials management? Materials Management and Organisation. … How many methods of codification are there? Innovative assignment Industrial management (2ME310) Material management. . Discuss the advantages and disadvantages of Standardization. Codes may be misunderstood. 2. Discuss the advantages and disadvantages of Standardization. What is the scope of materials management ? Let us consider the following example. How "Inventory Turnover Ratios" are used as a means for Inventory Control & Cost Reduction. increased rate of innovation. All questions carry equal marks. The most significant disadvantage of many Construction Management contracting arrangements is that significant portions of the total services for which the . 5. 3. 3) The modern States give more importance to the legislation. ADVERTISEMENTS: In this article we will discuss about:- 1. Time scheduling. Q18. disadvantages of standardization. What are the objectives of codification, standardization and simplification? 2. A good deal of time is wasted in aching for code numbers in materials code books. Codes may be misunderstood. To identify materials that are purchased and stored for commercial purposes, they should be properly classified. The obvious disadvantage of this simple numerical sequence is that there are no memory adds incorporated in the system. MATERIALS. Out of the three elements […] By "baptizing" each product with a code, you can individualize it, make it unique and different from any other item. Codification in materials management is better known as the identification of materials. (d) Use of OR techniques in Materials Management SECTION C- (5X4=20 MARKS) Answer any five questions All questions carry equal marks 1.Explain the objectives of materials management? Need or/Objectives of Material Control 3. Material Management Explain the objectives of materials management SECTION A- (10X2=20 MARKS) . 6. Introduction to Material Control 2. These are advantages of inter-firm comparison which given below: By using the information provided by the central organisation, management of a member-firm becomes aware of its points of strength and weakness and it can take appropriate steps to reduce the weaknesses and to increase its strength. These may be based upon the type of store item, the Purpose for which items are used or on any other application of that item. Codification - Number system Example… To take a simple coding system would include 00 to 09 - raw materials 10 to 19 - imported materials 20 to 29 - packaging materials 30 to 39 -tools, etc Whenever the system of numbers is used it must be flexible and have the potential for a long life, as the cost of setting up a new system is . This SAP module supports the entire project lifecycle from planning to invoicing. Codification is the process of representing each item by a number, the digits of which indicate the group, the sub group, the type and the size and . Alphabetical codification 2. The Advantages and Disadvantages of the System. Advantages of the Combined Materials (Stores) and Purchase Department. How does standardization lead to variety reduction? Moreover, by it secrecy can be maintained which is the essential part for the smooth functioning of the business. It's contradicting, but the reality is that recycling tons of garbage will require waste to be transported, sorted, cleaned and processed in separate factories, all of which need energy and may result in by-products that can pollute air, water or soil. What are the disadvantages of a key . Both the systems comprise their own advantages and disadvantages. This deals with uniquely identifying each item in the inventory. . Codification is used to properly classify equipment's, raw materials, components and spares to suit the particular needs of any organisation. Block System There are different types of store codes designed to suit the requirement. 3. influence the process of establishing cost centres. Advantages of Inter-firm Comparison. It is a simple concept. assignment The relevant details NAME LEAH JERUTO REGISTRATION NUMBER NATURE OF ASSIGNMENT Individual work DATE PRESENTED 21/03/ 2015 TASK HANDLING INVENTORY MANAGEMENT TOOLS LECTURER NAME William mwangi ABC analysis In materials management‚ the ABC analysis (or Selective Inventory Control) is an inventory categorization technique.
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