A Study of Material Management Policies in Chain of Hotel Industry (A Case Study of Taj Hotel)

Author: Apoorva Singh, Arvind Kumar Yadav

Abstract:
The material management concept advocates integrating all major activities, which contribute material cost to a single department. In this concept the material management department is responsible for purchasing, inventory control, stores and other related activities. Many times in corporate activity, there is compartmentalization of basic management functions concerned with materials. The purchasing department operates separately and other areas like stores and inventory control operate independently. This creates conflicting objectives from the overall organizational point of view e.g. purchasing department may prefer to buy large quantities on discount without considering the warehousing and carrying costs. In an integrated setup, the material manger is responsible for all the interrelated purchases and hence this leads to co-ordination among all activities the total concept of materials management is a major step forward in the management field. Its integrative approach is much more effective as compared to unlinked control practiced earlier. The management of various types of inventories is also a very important task of every organization either it is a manufacturing organization or a service organization including the hospitality industry. In this research paper we focused on different material management policies and purchase plans specially in Taj Hotel.

Keywords:Material Management Policies, Hotel Industry, Purchase Plans, Taj Hotel.

DOI:

International Journal of Trade & Commerce (Vol: 8 Issue:2)