The emerging importance of material management is directly related the delivery of quality products and services in the market. According to OECD (2012) the aspects related to material management are integral to the system of service related functionalities. The importance and extensive use of material management is visible in the domains of engineering production, industrial manufacturing units, and financial institutions. The usability of material management lay emphasis over the supply of very perfectly analysed quality-oriented materials. Avoidance of all kinds of wastage is the responsibility of this department. The idea is to control the ‘cost of production’ (OECD, 2012).

It is the responsibility of the material management department to remain aware of the cost of the material and gain reasonable quotes for the business purpose. Use of scientific methods for initiating the same is highly recommended for the actions of material management. This department is very important for an organisation as it helps in keeping a check over the expenditure of indirect materials. Responsibility is also bestowed upon the adequate use of the equipments and offering restrictions to break downs, caused by non-supply of materials.

The usability of material management can be considered as very vital as it keeps a check over loss of any kind of direct labour and material wastages, at every level of production. The control and administration of material management assist the organisation is getting quality with maximum output from the input materials. Delivery and investments made in a business are under strict audit of material management. As a result, there is hardly any scope that the company will face mismanagement in its supply and demand chain.

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