Evaluation of Materials Management Effectiveness

Prem Vrat
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Prem Vrat: ITM University

Chapter 21 in Materials Management, 2014, pp 379-392 from Springer

Abstract: 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.

Keywords: Performance monitoring; Organization structure; Board of the company; SCOR; Balanced scorecard; Performance objectives productivity; Checklist; SMART objectives; Training and skill upgradation (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-81-322-1970-5_21

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