Open AccessInventory Management
Author(s) -
V. Jhansi,
T. Ilakkiya,
K. Baranidharan,
S. Helen Roselin Gracy,
P. S Immaculate
Publication year - 2022
Publication title -
international journal of advanced research in science, communication and technology
Language(s) - English
Resource type - Journals
ISSN - 2581-9429
DOI - 10.48175/ijarsct-2602
Subject(s) - inventory management , economic order quantity , maximization , profit maximization , inventory turnover , business , operations management , abc analysis , profit (economics) , product (mathematics) , perpetual inventory , inventory theory , finished good , operations research , computer science , marketing , supply chain , economics , production (economics) , microeconomics , mathematics , geometry , finance , stock exchange
This study focuses on the management of inventories which become important in cost maximization and profit maximization. In this project, the contribution of inventories irrespective of its size, nature and an adequate level of inventory to carryout business operations and thus inventory becomes an important and integral part of business. It helps to maintain the right level of supply and reducing loss to goods or materials before they become a finished product are sold to the customer. The study which is explained in detail based on the secondary data. The tools like EOQ analysis, ABC analysis, Inventory turnover ratio and FSN analysis are used for this project. It helps to identify the factors in a company’s success or failure. The data are being analyzed and arrived at findings and suggestions to measure the efficiency of the inventory management. This study also suggests the way to improve the satisfactory level of inventory management.