IMPROVEMENTS FOR INVENTORY MANGEMENT IN AN ELECTRICAL INDUSTRY
Keywords: ABC, VED, HML, Selective inventory control, MATLAB
Inventory constitutes a major component of working capital. To a large extent, the success and failure of a business depends upon its inventory management performance. The basic objective of inventory management is to optimize the size of inventory in a firm so that smooth performance of production and sales function may be possible at minimum cost. This paper shows the need of inventory control and reduction in inventory cost in electrical industry. Current method used in the electrical company is not sufficient to maintain the inventory system, so this paper which introduce a new method to improve inventory system performance .selective inventory control is the major tool used in this paper Selective inventory Control is performed based on ABC, HML and VED analysis, which were then combined to make a two dimensional picture and stocking policies are indicated for each category. Simulating software is generated for creation of optimum order quantity and optimum reorder level.
"IMPROVEMENTS FOR INVENTORY MANGEMENT IN AN ELECTRICAL INDUSTRY", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol., Issue , page no., , Available :https://ijsdr.org/papers/.pdf
Volume
Issue ,
January-1970
Pages :
Paper Reg. ID: IJSDR_160011
Published Paper Id:
Downloads: 000347039
Research Area: Engineering
Country: kollam , kottarkkara, kerala, India
ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: IJSDR(IJ Publication) Janvi Wave
