A Study on Inventory Management with Reference to BHEL

A Study on Inventory Management with Reference to BHEL

*   Mr. S. Venkat Reddy 1

Assistant Professor

J.B. Institute of Engineering and Technology

**Ms. Saba Sulthana 2

J.B. Institute of Engineering and Technology

ABSTRACT

Market changes, new technology, and new laws are some of the external factors examined in this study as they pertain to BHEL's inventory management. Furthermore, it explores the ways in which IT and automation might potentially increase productivity while decreasing processing times. This research has three main objectives: to provide BHEL's management with practical insights to increase operational efficiency, optimize inventory levels, and lower holding costs. The study's real-world case study on inventory management in a complex industrial setting might be useful for academics, researchers, and industry practitioners. Moreover, inventory management as a whole benefits from this case study. The main goal of this study is to analyze and assess BHEL's inventory management procedures in order to suggest strategic improvements. Storage, optimization strategies, demand predictions, and procurement are some of the inventory management components studied using quantitative analysis, case studies, and BHEL's five-year financial statements.