Materials Management

Chapter 1. Introduction to Integrated Systems Approach to Materials Management.- Chapter 2. Basic Concepts in Inventory Management.- Chapter 3. Selective Inventory Management.- Chapter 4. Static Inventory Models - Single Purchase Decisions.- Chapter 5. Dynamic Inventory Models: Aggregate Analysis.- Chapter 6. Deterministic Inventory Models.- Chapter 7. Dynamic Inventory Models with Quantity Discounts.- Chapter 8. Probabilistic Inventory Models.- Chapter 9. Just-In-Time, MRP and Lean Supply Chains.- Chapter 10. Inventory Management of Slow Moving Materials.- Chapter 11. Multi-Echelon Inventory Models.- Chapter 12. Material Specification, Codification and Standardization.- Chapter 13. Management of Material Waste.- Chapter 14. Storage & Warehousing.- Chapter 15. Purchasing: Policies and Processes.- Chapter 16. Incoming Material's Quality Assurance.- Chapter 17. Make or Buy Decisions: Outsourcing Strategy.- Chapter 18. Source Selection, Performance Rating and Development.- Chapter 19. Value Analysis for Material Cost Reduction.- Chapter 20. Systems Approach and Supply Chain Management.- Chapter 21. Evaluation of Materials Management Effectiveness.

Prem Vrat is the Vice Chancellor, ITM University, Gurgaon, India; former Professor of Eminence, Management Development Institute, Gurgaon; former Vice Chancellor, U.P. Technical University, Lucknow, India and Founder-Director, Indian Institute of Technology (IIT) Roorkee, India. He obtained his Ph.D. degree from IIT Delhi in 1974. He was an honorary Research Fellow (1975-76) at the Department of Engineering Production, University of Birmingham (U.K) and at present is also serving as an honorary Professor at IIT Delhi.

Prof. Vrat was a visiting faculty (1985-86) at the Industrial Engineering and Management Division of the prestigious Asian Institute of Technology, Bangkok, Thailand, where he also held the position of Professor and Chairman (1989-91). He has published extensively in Journals of national and international repute. He is a sought after speaker in continuing education, management development programs and has delivered invited lectures in more than 400 such programs in India and abroad. He also held the Modi Foundation Chair in 2001.

His co-authored book Productivity Management: A System Approach received Delhi Management Association (DMA)-Escort Book award and the second best book award for 1999-2000 by the Indian Society for Training and Development. He received "Lillian Gilbreth Award" for his outstanding contributions to Industrial Engineering and Productivity in India and Dr. C.M. Jacob Gold Medal of Systems Society of India (SSI) for his outstanding contributions to Systems Modeling and Management. He was an elected Fellow of the Indian Institution of Industrial Engineering (IIIE), National Academy of Sciences, India, World Academy of Productivity Science, Indian National Academy of Engineering, and an honorary Fellow of the Indian Society for Technical Education. Member of POMS (USA) and ASQ; he is the recipient of the distinguished alumnus award from IIT Kharagpur and the distinguished service award from IIT Delhi and is an