In the light of changing business conditions, this edition seeks to provide an overall understanding of how to control critical cost related to the materials/logistics function, including optimizing purchased materials cost, controlling inventory investments, and minimizing lead time.

This volume demonstrates an approach to cost-effective materials management by managing materials as a single system - from supplier through company operations to customer. Integrating theoretical and practical aspects of materials management, and using real-life examples, the authors: illustrate materials management/logistics concepts and organizational strategies as a framework for efficient management; explain procurement, materials flow, and distribution in the context of the overarching materials system, enabling managers to pinpoint potential savings and evaluate the success of different materials' functions; and provide guidelines on the implementation and control of improved materials management/logistics, including financial assessment and troubleshooting. Presenting approaches to enhancing materials management/logistics in an accessible format, this book aims to enable executives, managers, and technicians to exploit vast opportunities for savings through optimal materials management. This book should be of interest to practitioners in purchasing, traffic and transportation, logistics, receiving, shipping, stores, production control, inventory control, industrial engineering, systems personnel and manufacturing engineering; and students on related courses.