International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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INVENTORY MANAGEMENT CONTROL TECHNIQUES: A COMPARATIVE STUDY

    1 Author(s):  MANISHA

Vol -  6, Issue- 5 ,         Page(s) : 209 - 214  (2015 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

Inventory is vital to an organization from financial and operational standpoint. Appropriate Inventory management is very important to an industry, because of involvement of significant cost regarding raw materials. Without proper control, inventory has a tendency to grow beyond economic limits, increase the cost of maintenance or the carrying cost. At the same time, non-availability involves the cost of stock-outs, re-ordering costs and additional transit costs. The purpose of inventory management is to ensure availability of materials in sufficient quantity as and when required and also to minimize investment in inventories. In this paper, we analyze different inventory control techniques for efficient inventory system and smooth running of the organizational activities.

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