What is the future scope of Material Management in 2022?

It is very essential to keep the material organized, ordered, and in a systematic manner to avoid any trouble at the workplace. Therefore, managing material in an organization requires keeping a record of all the raw material, storage, control, distribution, and supervising all the processes. Companies are always in need of skilled professionals to perform these tasks and therefore hire professionals, skilled material managers, to oversee all these operations for smooth handling and functioning of the organization.

As a Material Management Professional has the capability to plan and buy goods and regulate inventory in order to satisfy the company’s goals. These are professionals also have supply chain and inventory control experience. They collaborate with other managers to determine supply requirements and handle purchase supplies and materials in accordance with standards. Moreover, they also maintain favourable relationships with suppliers and keep accurate records of procurement activities, material quantities, and requirements.

Therefore, we can conclude that the scope of material management in the year 2022 is increasing at an alarming rate. Since these professionals have a wide range of job choices in both the public and private sectors. They can work in defence procurement, storage, and supply, railways, and public transportation. So, without wasting any more time let’s dive deeper into the study of the future scope of Material Management in 2022!

Roles and Responsibilities of Material Management Professional

Some of the major roles and responsibilities of these professionals include the following:

  • Overseeing the planning, procurement, storage, control, and distribution of materials and products.
  • Collaborating with other managers to determine supply needs.
  • Purchasing supplies and materials according to specifications.
  • Coordinating, supervising, receiving and warehousing procedures.
  • Overseeing the distribution of supplies in the organization.
  • Ensuring that the materials available are aligned with the customer demands.
  • Giving a schedule of costs and resources to the company.
  • Controls the flow of materials with demand, prices, quality and delivery schedules.

Skills required to become a Material Management Professional

Below are some of the most interesting skillsets required by these professionals that will make your journey easy and steady. Some of the skills are:

  • Negotiation skills.
  • Have awareness of the dynamics of the supply chain market.
  • Understanding of new logistic process, inventory management, and customer satisfaction.
  • Have critical problem-solving skills.
  • Communication skills.
  • Capacity to work in a group are also very crucial.

Scope of Material Management

Material management

Material management is basically concerned with all the functions associated with the management of the company. The scope of material management differs significantly from company to company and includes material planning and control, production planning, purchasing, inventory control, in-plant materials movement, and waste management. To understand the scope of material management in today’s world, we’ve discussed each and every function of the same in brief below. Therefore, let’s dive deeper to understand the scope of material management.

1. Materials planning and control: Material management and control can be explained in a scientific way that it is used to determine the needs of raw materials, components, and other commodities needed for production within the economic investment policies. It is moreover, a subsystem in the overall planning activity. It also involves preparing the overall material budget, scheduling all the orders, and monitoring the performance.

2. Purchasing: Purchasing involves learning the internal needs, locating and selecting suppliers, obtaining the materials, parts, supplies, and services needed to produce a product. It also includes the preference of sources of supply finalization in terms of purchase, placement of purchase orders, follow-up, maintenance of smooth relations with suppliers, approval of payments to suppliers, evaluating and rating suppliers.

3. Stores management: This involves the storage of all the products that are carried out effectively and efficiently. This involves physical control of materials, preservation of stores, maintenance of store records, proper location, and stocking. A store plays a major role in the verification of stocks and negotiating them with book figures.

4. Inventory control or management: Inventory management refers to the process of ordering, storing, using, and selling a company’s inventory. Its major roles are to maintain relevant stock levels and minimize wasted inventory. Thus, effective control of inventory is a must for the fluent and efficient running of the production cycle with the least interruptions.

5. Other related functions: The rest of the functions include Standardization, simplification, specifications, value analysis, and ergonomics.

Career in Material Management

According to material management, every process in a company should be linked together in order for proper planning and control to take place. This is what a person is expected to be good at when he/she is taking material management as their career. Therefore, while starting a career in this field it is really necessary to choose the correct study path to persist in your dreams. The internet is loaded with various online certification courses but deciding the best for you that feeds all your requirements is an essential step to take. Hence, below are some of the trending careers in material management in the year 2022 that you can take up to boost your professional life.

1. Purchasing Manager

A purchasing manager is also known as a purchasing director or supply manager, those are capable of making commercial judgments and overseeing the purchasing department. Their major purpose is to evaluate suppliers, negotiate contracts, and review product quality. Moreover, getting to the position of a purchasing manager requires experience as it is a senior-level profession. Overall, it is one of the best career options to take up in the field of material management.

Average Salary: INR 6.6 Lakhs per annum

2. Operations Manager

Operation management is related to the area in businesses where the major concern is designing and controlling the process of production and redesigning business operations in the production of goods or services. Working as an operation manager you’ll be required to take up control of various departments in the organization. Moreover, if you enjoy planning, organizing, and scheduling activities then you should definitely look up to taking up operation management as your career ahead.

Average Salary: INR 7.1 Lakhs per annum

3. Project Manager

Working as a project manager will give you high monetary benefits along with plenty of variety at work. It is one of the in-demand jobs in the present time and hence is very competitive. These professionals are responsible for planning, organizing, and directing the completion of projects for an organization while ensuring these projects are on time, on budget, and within scope. Overall, it is a very good career choice.

Average Salary: INR 13 Lakhs per annum

4. Supply Chain Manager

Supply chain managers are responsible for overseeing and managing every stage of the production flow, from purchasing the raw materials to the delivery of the final product. Moreover, becoming a supply chain manager will benefit you in today’s situation because there are plenty of jobs available for this career option. Also, supply chain jobs usually pay well and there is a great space for career growth. The career path also offers excellent work satisfaction, and it’s hard to get bored.

Average Salary: INR 10.9 Lakhs per annum

5. Materials Operations Manager

These professionals are in charge of managing the production of commodities. They are responsible for a company’s productivity, safety, quality control, and personnel. They also examine the current production system to ensure that it is efficient, and they are involved in day-to-day tasks, which include dealing with vendors, employees, and other clients.

Average Salary: INR 37 Lakhs per annum

Average Salary

The average salary for a beginner in this sector is estimated to be INR 2.5 Lakhs per annum which is sure to be increased in their near future as they gain more experience and work in better organizations. The government sector definitely has a slightly higher pay than the private sector. Moreover, apart from earning salary professionals in this sector receive a variety of supplementary benefits and incentives, regardless of whether they work for the private sector or the government. Also, some of the highest paying industries include COAL India Limited, National Thermal Power, the Oil and Natural Gas Corporation, etc.

What to do next?

The demand for material management professionals is increasing with every passing day rather than going down. Companies require such professionals who can utilize materials to create the desired end products is a complicated process. Moreover, in the future, the demand for these professionals is going to increase. So, you should start taking up lectures, joining study groups, taking online certification courses, and taking tests to check where you stand.

Therefore, to solve this problem we are providing you with the best online certification courses on the web. Vskills is offering Certified Material management professional online certification course that will help you begin your career in this field and will give you a clear idea of the topics that need to be covered. The best part is that this certification is recognized by the Government of India so this will add value to your resume as well. We would also like to wish you all the best in your career. Happy Learning!

Certified material management professional

Get the Vskills Certificate in Material Management. Take a free practice test today!

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