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Inventory Control M0729,M0733,M0739

Inventory Control M0729,M0733,M0739

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Published by Hemant Sachan
This is my class presentation topic were me and friends have made it up to management level plus make it a little easy so that we can present it in more educational and interactive manner.
This is my class presentation topic were me and friends have made it up to management level plus make it a little easy so that we can present it in more educational and interactive manner.

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Published by: Hemant Sachan on Jun 12, 2009
Copyright:Attribution Non-commercial

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05/11/2014

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Inventory Management
by neha guptahemant sachan& jyotsana mishra
 
DEFINITION OF INVENTORYDEFINITION OF INVENTORY
InventoryInventoryis the stock of any item oris the stock of any item orresource used in an organisation.resource used in an organisation.Inventory systemInventory systemis the set of is the set of policies and controls that monitorpolicies and controls that monitorlevels of inventory and determinelevels of inventory and determinewhat level should be maintained,what level should be maintained,when stock should be replenished,when stock should be replenished,and how large orders should be.and how large orders should be.
 
PURPOSES OF INVENTORYPURPOSES OF INVENTORY
 To maintain independence of  To maintain independence of operationsoperations. A supply of materials at. A supply of materials ata work center allows that centera work center allows that centerflexibility in operations.flexibility in operations.
 To meet variation in product To meet variation in productdemanddemand. If the demand for the. If the demand for theproduct is known precisely, it mayproduct is known precisely, it maybe possible to produce the productbe possible to produce the productto exactly meet the demand.to exactly meet the demand.

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