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PSM 421 Material Management

HND2 levelManagement & Administration44 topics

PSM 421 covers 44 topics. StudyPath paces them into daily study sessions that finish before your exam date, with practice questions and worked answers for each one.

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Course outline

The topics this course covers, in teaching order.

  1. Introduction to Materials Management
  2. Functions of Materials Management
  3. Materials Flow and Supply Cycle
  4. Materials Management Tasks in the Supply Chain
  5. Mathematical Tools for Determining Supplies
  6. Supply Flow Patterns and Control
  7. Finance and Economics of Supplies
  8. Corporate Policy and Organization in Materials Management
  9. Control Mechanisms in Materials Management
  10. Materials management concepts, scope and benefits
  11. Procurement within materials management
  12. Stores and inventory management
  13. Stock control functions
  14. Logistics and physical distribution
  15. Interfaces with marketing, design and production
  16. Materials flow and supply cycles
  17. Regional and global roles in materials management
  18. Materials management tasks in supply chain
  19. Quality, standards and specifications
  20. Forecasting, EOQ and inventory analysis
  21. Supply flow patterns and controls
  22. Budgets and budgetary control
  23. International procurement intermediaries
  24. Trading blocs and customs unions
  25. International payment systems
  26. Money-based payment methods
  27. Countertrade arrangements
  28. Reciprocal trading
  29. Currency management and global financing
  30. International commercial terms (Incoterms 2020)
  31. Bills of exchange and letters of credit
  32. Ethics, culture and global negotiation
  33. Global supply chain planning and quality
  34. Global contracting and legal considerations
  35. Commodity markets and trade barriers
  36. Global logistics and import documentation
  37. Customs planning, trade facilitation and protectionism
  38. Economic order quantity
  39. Inventory cycle
  40. ABC analysis
  41. Statistical quality control
  42. Materials quality determination
  43. Supply flow patterns
  44. Uncoupling effects of supply flow

A sample from this course

One topic, as StudyPath teaches it.

Introduction to Materials Management

Materials Management is the systematic planning, organizing, directing, and controlling of the flow of materials from acquisition to disposal. Mastering its core concepts—such as the role of materials in production, the objectives of materials management, and the basic functions—helps students understand how to reduce costs, improve service levels, and support overall business strategy, which are key assessment…

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