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Inventory Control Procedures in Manufacturing Organizations - An Overview (MBA Operations)
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| MBA Project ID: |
534 |
| MBA Project Name: |
Inventory Control Procedures in Manufacturing Organizations - An Overview (MBA Operations) |
| MBA Category: |
MBA Operations |
Project Abstract:
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The purpose of inventory management is to ensure availability of materials in sufficient quantity as and when required and also to minimize investment in inventories. Raw materials, goods in process and finished goods all represent various forms of inventory. Each type represents money tied up until the inventory leaves the company as purchased products. Because of the large size of the inventories maintained by firms, a considerable amount of funds is required to be committed to them. It is therefore absolutely imperative to manage inventories efficiently and effectively in order to avoid unnecessary investments. A firm neglecting the management of inventories will be jeopardizing its long run profitability and may fail ultimately. The reduction in excessive inventories carries a favorable impact on the company’s profitability.
The study starts with an introduction to inventory management, review of literature, analysis of various inventory control methods, and the analysis part, where different inventory control method are used in manufacturing industry.
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| Project Report: |
66 Pages |
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