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This work provides an overview of inventory with the intention of using decision model to analyze and evaluate inventory in small and medium scale industries with the aim of optimizing the inventory system inEvepon Industries Limited, Enugu state, Nigeria. Data were collected from the case company and the research method used is the application of the inventory control models. Based on the models applied, the aforementioned company’s analysis shows that the economic ordering quantity of the raw materials which are products 2, 3, 4, 5, 6 and 7 have 2700.81, 286.84, 772.77, 61.4, 6.43 and 7.21 respectively. Products 2, 3, 4, 5, 6 and 7 have reordering point of 675.2, 71.71, 193.19, 15.35, 1.61 and 1.8 respectively while the products 2, 3, 4, 5, 6 and 7 have lead time of 4.12, 13.13, 5.9, 28.11, 36.82 and 49.54 respectively. The results develop standards for the case company and similar case studies for its use and applicability in other to eliminate and/or to reduce the inventory control and production planning problems. This technique will help manufacturing industries in general and the case study company to reduce running cost, effective utilization of the inventory control system and appraisal of the production planning system.

Evaluation and Optimization of Inventory Control Systems in Small and Medium Scale Industries