The global economy witnesses numerous developments, fluctuating between progress and decline, accompanied by technological advancements that introduce new technologies to help economic organizations evolve and grow. However, this doesn't prevent periods of sharp economic downturn, sometimes reaching crisis levels, manifested as global economic recession and depression. During these times, inflation and unemployment rates rise while economic growth declines in many countries. The situation is worse in developing nations where debt increases. Additionally, the fierce competition brought about by modern technology presents challenges despite its benefits. A major problem is the scarcity of available resources and the rising prices of raw materials, chief among them oil, which is currently experiencing a sharp increase, and primary materials that are inputs for industrial organizations, leading to higher prices for final goods, the domain of commercial organizations.

These economic variables and others have had a direct impact on the focus of industrial organizations towards a crucial activity: purchasing. Sound policies and rational decisions in this area can save an organization from many problems and directly affect its profitability. Consequently, the purchasing function has become more than just a procedural task; it is now an economic, technical, and commercial function in modern organizations, governed by a set of policies, principles, and objectives all aimed at serving the goals of different economic entities.

When discussing the purchasing function, we must also consider its associated function: storage. Together, purchasing and storage now constitute what is known as materials management, the subject of this book. While the purchasing function's role is to provide the organization's needs for various materials in the right quantity, quality, price, time, and from the right supplier, the storage function is responsible for preserving these materials and supplying them to various departments within the organization in the appropriate quantity and at the right time, ensuring the continuity of operations. The efficient and competent performance of both functions enables any organization to control its profit margin to an extent that serves its interests in facing competitors and achieving a competitive advantage.

In light of this, materials management (purchasing and storage) has become a vital function of the organization, on par with other functions like production, finance, and marketing. It now holds a prominent place on the organizational chart, and organizations view it with a new perspective regarding its importance and active role in achieving their goals and objectives. This will be the focus of this book, which consists of ten units. Five units are dedicated to the purchasing function, with the first unit covering the basic concepts of purchasing management, the second addressing its scientific principles, and the third discussing purchasing planning. The fourth unit deals with purchasing execution, while the fifth and final unit in this section covers purchasing evaluation. The other five units are dedicated to the storage function. The sixth unit covers the basic concepts of storage management, the seventh deals with inventory planning, the eighth discusses storage procedures, and the ninth addresses inventory control. The tenth and final unit is dedicated to discussing supply chain management. All of this is presented within the concept of materials management, which encompasses both the purchasing and storage functions.

• Number of Pages: 238
• Year of Publication: 2020
• Binding Type: Paperback
• Edition Number: 7
• Printing Color: Black
• Dimensions (cm): 17x24
• Weight (kg): 0.500
• Barcode: 9789957064037