Introduction:
Inventory management is the management of inventory and stock.
Inventory management is the supervision of non capitalized assets inventory
and stock items.
A component of supply chain management, inventory management supervises the
flow of goods from manufacturers to warehouses and from these facilities to
point of sale. A key function of inventory management is to keep a detailed
record of each new or returned product as it enters or leaves a warehouse or
point of sale.
Inventory management means keeping the overall costs associated
with having inventory as low as possible without creating problems. This is
also sometimes called stock management. It is an important part of any business
that must have a stock of products or items on hand. Correctly managing inventory
management is a delicate balance at all times between having too much
and too little in order to maximize profits. The costs associated with holding
stock, running out of stock, and placing orders must all be looked at and compared
in order to find the right formula for a particular business.
It is impossible to have an unlimited supply on hand, for a number of different
reasons. Many businesses simply dont have enough money to keep excessively large
inventories. There are costs associated with purchasing the items as well as
storing them, and having too many products leads to further losses when they
dont move off of the shelves.
At the same time, there are issues with inventory management when
there is not enough stock on hand. One common problem is running out of inventory,
which is caused by trying to reduce inventory costs too much. This is something
that no business wants to have happen, but it happens to virtually all of them
at some point. Even the largest stores run out of certain products from time
to time when they sell or use more than they expected. This can cause financial
losses when inventory is not available for customers to purchase. Part of inventory
management is trying to minimize shortages so these are rare occurrences. Most
businesses expect they will have shortages on occasion and they have calculated
that the small loss is worth the money saved by not having an overstock.
Number of Pages of Project Report: 60
Package Includes: Project Report
Project Format: Document (.doc)
Table of Contents of Project Report:
CHAPTER 1 INTRODUCTION
Rationale of the study
Statement about the problem
Objectives and scope of the study
Need of the study
CHAPTER 2 THEORETICAL BACKGROUND
Inventory control
Meaning of Inventory Control
How to Achieve Inventory Control
Inventory control system
Business Processes And Functions In Spare parts Management
CHAPTER 3 LITERATURE REVIEW
CHAPTER 4 COMPNAY PROFILE
CHAPTER 5 RESEARCH METHODOLOGY
CHAPTER 6 DATA ANALYSIS
FINDINGS
RECOMMENDATIONS AND CONCLUSION
CONCLUSION
LIMITATIONS
BIBLIOGRAPHY
APPENDIX 1 QUESTIONNAIRE