Materials management is a core function of supply chain management that involves the planning and execution of supply chains to meet the material requirements of a company or organization. Logistics, Materials & management is the process of integrating and maintaining (flow and storage) of goods within an organization. Supply Chain Management, on the other hand, refers to the process of coordinating and managing the flow of materials throughout an organization’s supply networks.
Businesses can cut costs and improve delivery times by implementing Logistics, Materials, and Supply Chain Management. Companies are able to improve their visibility and their ability to establish transparent business processes by utilizing strategic planning and working in collaboration with other departments.
