Materials Management: An Integrated Systems Approach Free

This book is a new contribution to the body of literature on materials management, though the market is crowded with so many titles on supply chain management!

The author has used a fresh perspective of integrated systems approach to impress on the importance of materials function. Managing materials are both a challenge and opportunity for professionals. Typically, materials form a sizable portion of the resources and helps in gaining competitive advantage. The book answers the question of what it takes to manage such a resource using an integrated systems perspective.

In a typical realistic context, there are three important flows to be managed: materials flow, information flow, and money flow. This book examines various issues related to managing the flow of materials from a systems perspective in order to improve both the efficiency and effectiveness of materials management function. It is interesting to note that F.W. Harris first proposed the Economic Order Quantity (EOQ) model in 1913. Even after more than 100 years of EOQ model, its relevance and utility to inventory remains of interest to academics. It has acted as the starting point for many of analytical models in inventory including this book. This also underlines importance of managing inventory!

This book has 408 pages and is priced at 74.99 (ISBN 978-81-322-1969-9). An e-book edition is also available at 63.06 (ISBN 978-81-322-1970-5).

The title of the book accurately reflects its content. The book comprehensively covers various aspects of materials, including the specification, procurement, storage, handling, issue, and use and accounting of materials from systems point of view.

The book is organized into 21 chapters. After giving an introduction of the need for an integrated systems approach, the basic concepts of managing inventory are described in using both quantitative as well qualitative tools. Figure 1.2 (p. 9) is very interesting (this also appears on the cover page!) and is an encapsulated view of the treatment given by the author. The author also connects with the contemporary concepts of supply chain management along with various key indicators for evaluation of materials function.

1. The style is lucid and to the point. There are numerical questions and small cases at the end of each chapter.

2. The book deals with both quantitative and qualitative treatment. The inventory models are covered extensively in Chapters 4-8. The treatment given to slow moving (Chapter 9) items and wastage of material (Chapter 13) is unique and normally not found in a traditional book. Similarly, the treatment given to multi-echelon models is also refreshing (Chapter 11).

3. Macro view through aggregate inventory models and exchange curves (Chapter 5), selective inventory management (Chapter 3) and micro view through various models (Chapters 4-8) enables one to take a balanced view on inventory.

4. Alternative views on inventory such as JIT, MRP, and lean supply chains (Chapter 9) makes the coverage complete in a holistic manner.

5. Other aspects such as Make vs Buy decisions (Chapter 17), Source selection (Chapter 18), and Value analysis (Chapter 19) makes the book comprehensive in its coverage.

6. The industrial engineering perspective is also very much evident from the treatment given to aspects such as value analysis, materials productivity, wastage, indicators for evaluation, etc.

I may offer some more specific comments:

1. In the preface, the author has rightly captured the dilemma of materials management vs supply chain management. The author’s assertion that supply chain management and materials management co-exist and are not to be treated as competing with each other but complimentary tells volumes about the clarity with which the book is written!

2. While giving reasons for low materials productivity, I would have expected to include reasons such as procedural requirements and delays on account of these requirements (many times, these are required especially in government run or public utility in a country like India).

3. Materials management is very vital function in a typical manufacturing organization. Its importance even in a service organization is to be underlined. The case study (1.11) of a trauma centre is interesting, though some more treatment to importance of materials management function in service organizations would add value.

4. The concept of purchasing chess board (Figures 15.5 and 15.6) based on AT Kearney (2009) and Schuh et al. (2009) is very interesting and will be of much use to practitioners. I compliment the author for inclusion of this novel idea of chess board.

5. I would have expected inclusion of discussion on IT-based tools for managing inventory such as RFID, and web-based information systems for managing inventory. There exists a tradeoff between information and inventory. Similarly, a discussion on virtual management of inventory in contemporary world would be of interest to practitioners in addition to a discussion on tradeoff between lead time and inventory.

6. At places, some concepts seems to have been covered in brief (for want of space or with an objective of being comprehensive) though for a typical student, it would have been more instructive to cover these concepts in a detailed manner (specific case in point: lot sizing algorithms in MRP – Chapter 9).

The book makes a compelling reading. Targeted at post-graduate level students, the book will also be a very good compendium for practicing managers and researchers in materials management.

Though there are many books on materials management, the book stands out due to the following: a systems-oriented integrated approach; combing both quantitative and qualitative tools; and treatment given to slow moving items, wastage of materials, and multi-echelon models.

The book is strongly recommended as a text book at post-graduate level for students in industrial engineering and management as I consider this book extremely useful. Senior materials persons will want it on their shelves and they should give it to read to every student willing to enter the field.