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Material flow management (MFM) is an economic focused method of analysis and reformation of goods production and subsequent waste through the lens of material flows, incorporating themes of sustainability and the theory of a circular economy. [1]
When combined with an assessment of the costs associated with material flows this business-oriented application of MFA is called material flow cost accounting. MFA is an important tool to study the circular economy and to devise material flow management. Since the 1990s, the number of publications related to material flow analysis has grown ...
Material flow is the description of the transportation of raw materials, pre-fabricates, parts, components, integrated objects and final products as a flow of entities. [1] The term applies mainly to advanced modeling of supply chain management .
Material flow cost accounting (MFCA) is a management tool that assists organizations in better understanding the potential environmental and financial consequences of their material and energy practices and seeks to improve them via changes in those practices. [1]
Value-stream mapping, also known as material- and information-flow mapping, [1] is a lean [2]-management method for analyzing the current state and designing a future state for the series of events that take a product or service from the beginning of the specific process until it reaches the customer.
Materials management is the process of planning and controlling material flows. It includes planning and procuring materials, supplier evaluation and selection, purchasing, expenditure, shipping, receipt processes for materials (including quality control), warehousing and inventory, and materials distribution. [ 6 ]
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