Material Control and Valuation PART 1

This lecture covers material control and valuation concept. material is considered essential part for manufacturing because without material no product can be produced.

But if material is not properly uses,handle and stores in a proper manner then it cause losses and wastage of material.

This lecture broadly explain how material uses can control in a suitable manner so that it helps in smooth and uninterrupted production in a factory, lecture covers first stage:

DETERMINATION OF STOCK LEVELS
1.Re-order level
2.Minimum stock level
3.Maximum stock level
4.Average stock level
PART 1 covers concept and theory of material control and valuation..

PART 2 Covers stock level numerical solution.