materials

materials

inputs into the PRODUCTION process most of which are embodied in the finished goods being manufactured. Materials include raw materials such as metal ores and cotton, and manufactured components. The materials which are embodied in the finished product are known as DIRECT MATERIALS whereas other materials such as lubricants and other consumables which are used up during the production process are known as INDIRECT MATERIALS. See VALUE ADDED.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson