Materials Management

4 Posts
1 Sections
1 Types

November 15, 2023 3 min read Definitions

Direct Materials Usage Variance in Standard Costing

Accounting Cost Management Financial Analysis Standard Costing Variance Analysis Cost Control Materials Management Production Efficiency

Dive into the nuances of Direct Materials Usage Variance to understand how it affects budgeted profits in standard costing systems.

October 4, 2023 3 min read Definitions

Direct Materials in Production: Incorporation and Cost

Business Resources Manufacturing Insights Financial Management Direct Materials Cost Unit Production Costs Manufacturing Materials Management

Explore what direct materials are, how they differ from indirect materials, and their impact on product costs and manufacturing efficiency.

October 3, 2023 3 min read Definitions

Stores Returns Note (SRN) in Inventory Management

Inventory Management Business Operations Supply Chain SRN Inventory Control Materials Management Returns Handling Business Efficiency

Explore the significance of a Stores Returns Note in the process of inventory tracking and management. Learn how SRNs optimize inventory accuracy and reduce losses.

September 28, 2023 2 min read Definitions

Requisition in Business: Clarity in Internal Demands

Business Administration Operations Management Procurement Requisition Purchase Order Materials Management Manufacturing Business Operations

This entry examines the concept of requisition within business operations, detailing its purpose and application in streamlining workflows and internal processes.