Introduction to materials management-role of materials management in business - purchasing & quality -sources of supply. International buying - importance - global sourcing - global trading - green purchasing - supply chain management (SCM) - exim policy - exchange rate management - forward contracts. Contracts& pricing practices - negotiation - purchase timing - make or buy - capital equipment purchase - sourcing of projects. Strategic material planning - materials budgeting - inventory management -approach to system design. Stores and transportation. Stores management - insurance - sales tax - transportation - marine insurance. Policies - standards and practices - procedures.