Material Management Key Terms

Use material management key terms to give your business a professional edge

The field of material management covers many facets including quality control, acquisition, monitoring standards and working with surplus materials. Understanding material management key terms helps the professional communicate about different parts of the job.

Using material management key terms not only clarifies terms and conditions, but it also shows one's dedication to the profession by taking the time to learn proper word usage. It helps clear communications between professionals and clients.

Acquisition

This term refers to the purchase of services or goods used for government activity by leasing, renting or buying. An acquisition includes a statement showing the need for the product, a description of requirements, how one will obtain the method, financing, contract information and other similar information.

Design specification

A design specification shows required characteristics an item must have for contract consideration. Design specification demonstrations define product manufacturing methods.

Goods

Businesses refer to personal property like supplies, equipment, materials and commodities as goods.

Hazardous waste

If a material poses a threat to human health or the environment it can be hazardous waste. The waste could be gas, liquid or solid.

NAPM

The National Association of Purchasing Management (NAPM) is a nonprofit technical and educational organization of materials and purchasing management and buying agencies for both private and public sectors.

Remanufactured product

This term refers to a product made from discarded materials. Manufacturers refurbish and market the products without greatly changing their original form.
United States Environmental Protection Agency offers a description of an initiative used to offer remanufactured products for material management. It highlights the benefits of using this type of product for more efficient and cleaner technologies.

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