General Studies · Industrial Engineering & Production Management
Which of the following is a key objective of material management in an organisation?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To maintain a high level of inventory to prevent any potential stockouts, even if it results in excessive storage costs
- 2To procure materials at the lowest possible price, ignoring quality and supplier reliability to maximise short-term savings
- 3To prioritise material procurement based solely on immediate production needs, without considering future demand fluctuations
- 4To ensure the right quality and quantity of materials are available at the right time, at the lowest cost, while minimising waste and stockouts✓
Correct answer
To ensure the right quality and quantity of materials are available at the right time, at the lowest cost, while minimising waste and stockouts
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