A Study on Inventory Management
International Journal of Progressive Research in Engineering Management and Science · 2024
Inventory Management is the integrated functioning of an organization dealing with supply of materials and allied activities in order to achieve the minimum coordination and optimum expenditure on materials.Inventory control is the most important function of inventory management and it forms nerve centre in any inventory management organization.An inventory management system is an essential element in an organization.It is comprised of series of processes, which provide an assessment of the organization's inventory.Since the inventory turnover ratio shows the increasing trend, there will be more demand for the products in the future periods.If they could properly implement and follow the norms and techniques of inventory management, they can enhance the profit with minimum cost.