A Study On Inventory Management At Lincoln Helios India Limited
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Date
2015-12-12T08:38:57Z
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Abstract
control is the procedure whereby investment in materials and parts carried in stock is synchronized within predetermined limits set in accordance with inventory policy recognized by management.
In modern competitive one of the burning difficulty of every business and industries that of cost control and cost reduction. An all pervasive effort for cost control and cost reduction is of paramount, significance for survival and growth of every industrial enterprise. This is why inventory management as a scientific device for controlling inventory cost and eliminating leftovers, is now regarded as an internal part of industrial management. Inventory management does not involve any human factor, as it concerns itself not with men but with inventory.
It is one of the widely used techniques for the control. Objectives of ABC control is to vary the expenses associated with maintaining suitable control according to the potential savings associated with the proper level of a such a control. ‘A’ may account for more than half the total value usage in the inventory. These items required very careful management and special careful estimates of future usually class ‘c’ items which is total account for only a few percent of the total value of usage very little effort should be developed to forecast the required of items. The intermediate class ‘b’ items justify a reasonable but routine effort in forecasting demands and managing inventory.
The basis for my study is the theory related to inventory. The theory collected is as follows, meaning and definition of inventory, objectives and significant of inventory and techniques of inventory and also what are the benefits derived to company by holding inventory.
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A Study On Inventory Management At Lincoln Helios India Limited, Manasa N