1) The raw materials and purchased components used in the production of other items 2) The classification of any lower level item, whether purchased or manufactured. A subassembly that has material, labor and overhead content may be considered strictly as material in the context of being used in an upper level item.
an object with an acyclic state graph which includes a particular, distinguished state, the raw state, from which any other state in the graph can be reached purely by means of normal tool actions
property which may be incorporated into or attached to an end item to be delivered under a contract, or which may be consumed or expended in the performance of a contract. It includes, but is not limited to, raw and processed material, parts, components, assemblies, fuels and lubricants, and small tools and supplies which may be consumed in normal use in the performance of a contract.