material resource

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material resource

A company uses material resources like timber and steel to build a new factory.

Definition
  1. Noun:
    • Assets in the form of material possessions: A "material resource" refers to any tangible asset or physical item that has value and can be used to produce goods, provide services, or generate wealth.
Usage
  • The term "material resource" is used to categorize and discuss physical assets in economics, business, and project management. It distinguishes tangible assets (like raw materials, equipment, buildings) from non-material resources (like human capital, intellectual property, or time).
Examples
  • Noun:
    • The company's primary material resources include its manufacturing plants and warehouse inventory.
    • A nation's material resources, such as mineral deposits and fertile land, are crucial for its economic development.
    • The project was delayed due to a shortage of key material resources like steel and concrete.
Advanced Usage
  • "Pooling of material resources": The act of combining physical assets from different parties for a common purpose.
    • The success of the cooperative depended on the pooling of material resources from all member families.
Variants and Related Words
  • Resource (n): A more general term for a stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organization in order to function effectively.
  • Natural Resource (n): Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain. (This is a specific type of material resource).
  • Physical Asset (n): A synonym often used in accounting and finance, referring to tangible, long-term assets like property, plant, and equipment.
Synonyms
  • Tangible assets
  • Physical capital
  • Material assets
Related Phrases

  • Allocation of material resources: The process of assigning and distributing physical assets to various uses or departments.

    • Efficient allocation of material resources is a key management skill.

  • Depletion of material resources: The reduction in the quantity of available physical assets, often through use or consumption.

    • The rapid depletion of material resources forced the company to seek new suppliers.
material resource

A company uses material resources like timber and steel to build a new factory.

Noun
  1. assets in the form of material possessions