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What is Material Classification
In the field of operation management, the importance of each tool of this was very broad for the organization. Like other tools of operation management, the importance of material classification is also one of the important approaches of classifying the technique of material in the organization.
In any organization there are so many materials is used and produce the final goods to the customers. So for recognizing and best use of the material, this is very important to classify in some group. So that it can be used easily in the future and work for the company.
The different type of material classification is given below
a) Raw material: This is also known as the first form of the material. The raw material is the material that is in its first form and that is not used by any other for making some products.
b) The raw material is the term that means the things that are not transforming into the other form. This is the first thing that is required in the organization for the run the company in a long time.
c) Finished products: Final products is one of another category of the material in the organization. Final products are the transforming form of the raw material and that is ready to sell in the market for the people consumption.
The importance of this material classification is given below
a) This helps to recognize the material according to the nature of it.
b) Material classification told the characteristics of the material category.
c) This is important to making the maintenance strategy for the material and the inventory facility for the material.