Bill of Materials. The bill of materials for a product is a list of all materials necessary for a typical job or production rum. It can save time and reduce errors by serving as a master copy of materials requisitions for that product. When a job or production run is started, all materials listed on the bill of materials are sent to the factory or are issued on a prearranged time schedule. The bill of materials is a rather cumbersome medium for posting; EDP can greatly improve the procedure by providing printouts of the bill of materials, processing the information internally, and updating all accounting records automatically.