Archive | Materials Control

Material Control: Intro, Need, Essentials, Advantages and Materials Management

In this article we will discuss about:- 1. Introduction to Material Control 2. Need or/Objectives of Material Control 3. Essentials 4. Advantages 5. Materials Management and Organisation. Introduction to Material Control: A major objective of Cost accounting is Cost Control. Every element of cost has to be effectively controlled. Out of the three elements of cost i.e., Material, Labour and [...]

By |2018-06-18T11:02:01+00:00June 18, 2018|Materials Control|Comments Off on Material Control: Intro, Need, Essentials, Advantages and Materials Management

Techniques of Materials Control: 6 Techniques | Cost Accounting

Following are the main techniques of materials control: 1. ABC Analysis 2. Determination of stock levels 3. Economic Order Quantity (EOQ) Analysis 4. Perpetual Inventory System 5. Periodic Annual Inventory Control System 6. VED Analysis. Technique # 1. ABC Analysis: The concept of ABC Analysis was coined by Pareto, an Indian philosopher in the nineteenth century. It is a value [...]

By |2018-03-21T06:06:51+00:00March 21, 2018|Materials Control|Comments Off on Techniques of Materials Control: 6 Techniques | Cost Accounting
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