The fundamental objectives of the Materials Management function ,often called the famous 5 R’s of Materials Management, are acquisition of materials and services :
Materials Management thus acts as a function of business that is responsible for the coordination of planning, sourcing, purchasing, moving, storing and controlling materials in an optimum manner so as to provide service to the customer, at a pre-decided level at a minimum cost.
CorporateServe helps organizations manage material management functions optimally and improving efficiencies by implementing the following components:
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