Scribd Upload a Document Search Documents Explore DocumentsBooks - FictionBooks - Non-fictionHealth & MedicineBrochures/CatalogsGo vernment DocsHow-To Guides/ManualsMagazines/NewspapersRecipes/MenusSchool Work+

all categoriesFeaturedRecentPeopleAuthorsStudentsResearchersPublishersGovernment & NonprofitsBusinessesMusiciansArtists & DesignersTeachers+ all categoriesMost FollowedPopular..Sign Up Log In.. 1First Page Previous Page Next Page / 39Sections not available Zoom Out Zoom In Fullscreen Exit FullscreenSelect View Mode View ModeSlideshowScroll ...Readcast Add a Comment Embed & Share Reading should be social! Post a message on your social networks to let others k now what you're reading. Select the sites below and start sharing.Readcast this Document.. Login to Add a Comment.. Share & Embed.Add to Collections Download this Document for FreeAuto-hide: on INVENTORY MANAGEMENT CONTENTS: 1) Executive summary2) Introductionto the conc ept3) Industry profile4) Company profilea) Back ground and inceptionof the compa nyb) Nature of the business carriedc) Vision, missionand quality policyd) Produc t/services profilee) Area of operation global/national/regional ownership pattern f ) Competitors information g) Infrastructural facilitiesh) Achievement awardi) Workflow model (end to end) 5) Mckinsey s seven SModela) Structureb) Skillc) Styl ed) Strategye) Systemf ) Staff g) Shared value6) Research methodologya) Title of the project b) Statement of the problemc) Objectivesd) Operational definitionse) Data coll ection f ) Statistical tools used for researchg) Sampling techniques sampling un it, sample size and samplingmethod.h) Planof analysisi) Limitations7) Data analy sis and interpretation 8) Summary of the findings9) Suggestions10) Conclusions f uture growth11) Learning experience12) Annexurea) Financial statementsb) Q uesti onnairesc) Bibliography. EXECUTIVE SUMMARY EXECUTIVE SUMMARYTitle of the projectA STUDY ON INVENTORY MANAGEMENTSTATEMENT OF P ROBLEMA study of inventory management atABB LTDis undertaken in order toknow th e inventory performance and position of the company and to know thestrength and weakness and to assess the profitability of the company.Inventories constitute m ost significant part of assets of large majority of thecompanies in India. Inven tory a double edged sword is usually an asset of anorganization, if not used pro perly it will become liability. It is thereforeabsolutely very important to mana ge inventories efficiently and effectively inorder to overcome unnecessary inves tment. And To identify theproblems/challenges involved in the Inventory Managemen t process at ABBltd.OBJECTIVES OF THE STUDYThe main objectives of the study are:OBJECTIVES:1. To study thetools and tech niques of inventory managementadopted atABB Ltd.2. To study theinv e n tory controlmeasures ininventorymanagement.3. To study thed em

and f orecastof inventory management atABB Ltd. 4. To study howABC analysisandagingscheduleis implementedininventory management. 5. To determine thestock levelininventory management atABB Ltd.6. To identifyproblemsrelated to inventory management and tofind out suitable measures to overcome them.7. To study themet hods of valuationof inventory on ABB Ltd.8. To study the inventory managementpro cedure. 9. To make a comparative study of inventory management inlast5 years usi ngratioanalysis technique. Methodology of data collectiona) Primary dataThe prim ary data is collected by personal interviews with officials. b) Secondary dataFi les, annual reports, periodicals, manuals and text book. Which have alreadybeen passed through the statistical process are the secondary data used.c) Field work This was under taken individually to collect various information regarding thes tudy by visiting following sections.Stores departmentInformation regarding stock ing of materials receipts and issues to workshops.Inventory control procedures i n various wards inside the department wereobtained.Accounts departmentRemaining all the information was obtained from accounts department throughpersonal interv iews with section officials. Plan of analysisThe analysis and interpretation was collected from finance depar tment thusprocessed and tabulated is in the form of tables and graphs. The table thusobtained by calculating average, percentage, turnover ratio, graphs and dia gramin respect of the stock of raw materials sales & inventory control procedure sand thus to draw conclusion from the analysis done. Scope of the studyy This s tudy is to find the facts and opinions of inventory management andcontrol at ABB plant.y In accordance with the present trends it aims mainly at finding out the inventory control procedures at ABB.y This study gives the brief information abo ut the inventory management of the indo ABB ltdy The study was done by using ann ual reports, inventory manualetc.Limitation of the studyy Time restriction was on ly 30 days of project work in the organization.y The information, which was need ed, could not be made public by theorganization.y The study are related to ABB l td Bangalore onlyy The finding and suggestion cannot be generalized.y The study covered a wide concept hence wide collection and coverage of information was not easily possible. INTRODUCTION TO THECONCEPT INTRODUCTION: Every enterprise needs inventory for smooth running of its activi ties. It serveras a link between the production and distribution process. The greater atime lag, the higher the requirement of inventory the unforeseen fluct uation ofinventory demand and supply of goods, fluctuating inventory prices,nece ssitate the need for inventory management. The investment inventory constitutes the most significant part of thecurrent assets inventory of the under taking. Th us it is very essential to have aproper control and management of inventory. M eaning and nature of inventory The general meaning of inventory is stock of good s or list of goodsinventory. In accounting language it means stock of finished goo ds. Forinventory manufacturing concern it includes raw materials, work in progre ss,consumables finished goods and spares etc. 1) Raw materials: If forms a major input inventory in organization. The quantity of rawmaterials required will be determined by the rate of consumption. 2) Work in Progress : The work i n progress is that stage of stocks, which are in between rawmaterials and finish ed goods. 3) Consumables: These are the material, which are needed to smoothen, the process ofproduction. These do not directly go into production, but act as catalyst. 4) Finished Goods: These are the goods, which are ready to sale for the consumers. Thestock of finished goods provides as buffer between production andmarket. 5) Spares: Spares also from a part of inventory. The stocking po licies differ fromindustry to industry. Inventories cost account for nearly 55 percent of the cost of production,as it is clear from an analysis of financial statements of large number ofprivate and public sector organizations. So, It essential to establish suitableprocedures f

or proper control of materials from the time of purchase orderplaced with suppli er until they have been consumed properly and accountedfor. Definition: The ter m inventory refers to assets, which will be sold in future in thenormal course o f business operations. The assets, which the firm storesas inventory in anticipa tion of need, are raw materials, work-in-progress/process, and finished goods. I nventory often constitute a major element of a total working capitaland hence ft has been correctly observed, 'Good inventory managementis good financial manage ment. Inventory control is a system, which ensures the provision of therequired q uantity at the required time with the minimum amount ofcapital. Inventories are the second largest asset category for the manufacturingfirms n ext to plant and equipment. Inventory control includes scheduling, the requireme nts, purchasing,receiving and inspecting, maintaining stock records and stock co ntrol.Inventory control is a matter of coordination. A proper material controlhe lps in improving the input-output ratio. Objective of inventory managementThe m ain objective of inventory management are operational and financial.The operatio nal object means availability of materials and spares in sufficientquantities fo r undisturbed flow of production. The financial objective meansinvestments in inventories should not remain idle and minimum workingcapital should be locked i n it.THE OTHER OBJECTIVESARE: 1) To ensure continues supply of inventories to th e production. 2) To avoid over stocking and under stocking. 3) To maintain optim um level of investment in inventories. 4) To keep material cost under control, t o keep low cost of production. 5) To eliminate duplication in ordering or replacing stocks. 6) To minimize l osses through, deterioration, pilferage, wastage anddamages. 7) Designing struct ures for good inventory management. 8) Perpetual inventory control of materials. 9) To ensure right quality of goods at reasonable prices. Analysis of pricesco st and value. 10) To facilitate data for short and long term planning and c ontrol ofinventory.NEEDFOR INVENTORY CONTROL: If a cost accounting system is to be effective there must be a propercontrol of inventory and supplies form the ti me orders are placed withsuppliers until they have been effectively utilized in production. Materials are equivalent to cash and they make up an important part ofthe total cost. It is essential that materials should be properlysafeguarded a nd correctly accounted.Proper control of material can inventory management at ABB Ltd Download this Document for FreePrintMobileCollectionsReport DocumentReport this document?Please tell us reason(s) for reporting this document Spam or junk Porn adult content Hateful or offensive If you are the copyright owner of this document and want to report it, please fo llow these directions to submit a copyright infringement notice. Report Cancel . .This is a private document. Info and Rating Reads:244Uploaded:02/26/2011Category:Uncategorized.Rated:Copyright:Attribution N on-commercial . FollowVenkatesh Kondapalli..Share & Embed Related Documents PreviousNext p. p. p. p. p. p. p. p. p.

p. p. p. p. p. p. p. p. p. p. p..More from this user PreviousNext 88 p. 37 p. 39 p. 74 p. 33 p..Add a Comment SubmitCharacters: 400 Print this documentHigh QualityOpen the downloaded document, and select print fr om the file menu (PDF reader required). Download and Print .You Must be Logged in to Download a DocumentUse your Facebook login and see wha t your friends are reading and sharing. Other login optionsLogin with FacebookSignupI don't have a Facebook account .email address (required) create username (required) password (required) Se nd me the Scribd Newsletter, and occasional account related communications. Sign Up Privacy policy You will receive email notifications regarding your acco unt activity. You can manage these notifications in your account settings. We pr omise to respect your privacy. Why Sign up? Discover and connect with people of similar interests. Publish your documents quickly and easily. Share your reading interests on Scribd and social sites. ..Already have a Scribd account? email address or username password .Log In Trouble logging in? .. Login SuccessfulNow bringing you back... Back to Login Reset your password Please enter your email address below to reset your password. We will send you a n email with instructions on how to continue. Email address: You need to provide a login for this account as well. Login: Submit Upload a Document Search Documents Follow Us!scribd.com/scribdtwitter.com/scribdfacebook.com/scri bdAboutPressBlogPartnersScribd 101Web StuffSupportFAQDevelopers / APIJobsTermsCo pyrightPrivacy.Copyright 2011 Scribd Inc.Language:English.Choose the language in which you want to experience Scribd:EnglishEspaolPortugus (Brasil).