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Evaluation of Materials Management Effectiveness

In: Materials Management

Author

Listed:
  • Prem Vrat

    (ITM University)

Abstract

This chapter focuses on the need, the process, and techniques of performance monitoring of materials management. The outcome orientation is emphasized rather than inputs consumed in handling materials management function. The strategic importance of an enabling organization structure is emphasized by having a director (materials) on the board of the company. Merits and demerits of having external and internal evaluation teams are described. The role of benchmarking and time-series analysis of improvement trends is explained. Systems approach-based monitoring models such as SCOR, balanced scorecard (BSC), and performance objectives productivity (POP) approach are included with detailed description of POP approach by identifying the systems, subsystems, KRAs, and POs. A checklist (A–Z) of ratios as key performance indicators is included as an illustration to develop SMART objectives/targets for monitoring and performance appraisal. Need for training and skill upgradation for all those involved in managing materials is highlighted, so that scientific, rational policies and model-based decisions can be made to enhance materials productivity from a system’s perspective.

Suggested Citation

  • Prem Vrat, 2014. "Evaluation of Materials Management Effectiveness," Springer Texts in Business and Economics, in: Materials Management, edition 127, chapter 21, pages 379-392, Springer.
    • Handle: RePEc:spr:sptchp:978-81-322-1970-5_21
    DOI: 10.1007/978-81-322-1970-5_21
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    Cited by:

    1. Nityesh Bhatt & Sunita Guru & Shashank Thanki & Gunjan Sood, 2021. "Analysing the factors affecting the selection of ERP package: a fuzzy AHP approach," Information Systems and e-Business Management, Springer, vol. 19(2), pages 641-682, June.

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