Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
7Activity
0 of .
Results for:
No results containing your search query
P. 1
unit-3(Industrial Management)

unit-3(Industrial Management)

Ratings: (0)|Views: 342|Likes:
Published by Ankur Agrawal

More info:

Categories:Types, School Work
Published by: Ankur Agrawal on Feb 17, 2012
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

09/08/2014

pdf

text

original

 
INVENTORY CONTROL
 
Inventory 
:- Any resource that has a certain value and which can be used at a later time, when the demand forthat item will arise. It is thus a stock of goods, which may be in the form of raw materials, semi-finished goods ( WIP) or finished product.
 An inventory system is the set of policies and controls thatmonitor levels of inventory and determines what levelsshould be maintained, when stock should be replenished,and how large orders should be
Firms invest 25-35 percent of assets in inventory but many do not manage inventories well
 
To maintain independence of operations
Provide
“optimal”
amount of cushion between workcenters
Ensure smooth work flow
To allow flexibility in production scheduling
To meet variation in product demand
To provide a safeguard for variation in raw material orparts delivery time
Protect against supply delivery problems (strikes, weather,natural disasters, war, etc.)
To take advantage of economic purchase-order size
Improve customer service

Activity (7)

You've already reviewed this. Edit your review.
1 thousand reads
Binit Rai added this note
please make it available for all users
1 hundred reads
DEEPAK liked this
nehal10 liked this
amitsinghbdn liked this
avi013 liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->