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.
Try: For another definition of acquisition, visit Second Venture Corporation.

Design specification

A design specification shows required characteristics an item must have for contract consideration. Design specification demonstrations define product manufacturing methods.
Try: GZA GeoEnvironmental discusses how it works with material management, including its project design specifications. It uses design specifications to communicate the scope of work that is part of the plan for demolitions and renovations, so a company can solicit bids for services.

Goods

Businesses refer to personal property like supplies, equipment, materials and commodities as goods.
Try: BCB Information Services offers links to files regarding goods in material management. It covers topics relating to equipment, maintenance and contractual information.

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.
Try: Dedicated to preventing hazardous waste, NAHMMA, the North American Hazardous Materials Management Association, offers numerous links and resources regarding the topic of eliminating hazardous waste in material management. It also links to upcoming events and news specific to the topic.

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.
Try: The National Association of Purchasing Management discusses the professional development of those interested in material management. Its educational resources include seminars and certification.

Remanufactured product

This term refers to a product made from discarded materials. Manufacturers refurbish and market the products without greatly changing their original form.
Try: The 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.

Copyright © 2011 Business.com, Inc. All Rights Reserved.

---