MATERIAL CONTROL Definition

Bookmark and Share

MATERIAL CONTROL normally refers to the department responsible for the proactive control of materials within a manufacturing environment: Do procedures exist for storage, release, and movement of material? Are materials in stores identified and controlled? Are in-process materials identified and controlled? Are materials in inspection identified and controlled? Do storage areas and facilities provide control to protect material from degradation? Are nonconforming items identified, segregated and controlled?

Learn new Accounting Terms

ELIMINATION is the the act of removing a mathematical quantity by combining equations. This is common practice in accounting when consolidating financial reports; one example would be inter-company transactions, currency translations, and account balances.

REVOLVING COLLATERAL is accounts receivable or inventory which change from day to day.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.