A STUDY ON OPTIMIZING INVENTORY MANAGEMENT AND EFFICIENT DISPATCHING

A STUDY ON OPTIMIZING INVENTORY MANAGEMENT AND EFFICIENT DISPATCHING

Aditi Shetye

Research Scholar,

Indira School of Business Studies PGDM, Pune

aditi.shetye@indiraisbs.ac.in

ABSTRACT

This paper addresses the crucial relationship that exists between inventory optimization and dispatching processes in relation to an organization's needed improvement in operational efficiency and customer satisfaction. Strategic management that highlights a perfect balance between supply and demand reduction of holding costs, and improvement in service levels through better control is one major consideration. The paper describes the comprehensive practice of order management for daily sales orders and inventory. It discusses very important activities in the process, such as inputting of sales orders, dispatch analysis of orders, updation of Uniware inventory, and BOM updation. It finds recurring problems associated with it, which include entering wrong data, delay in communication, and excessive volumes of orders. The organization will avoid this using efficient practices supported by advanced technology for timely delivery of quality products. Results indicate the strategic role of effective inventory and dispatching in assistance to organizational sustainability goals and market competitiveness.

Keywords: inventory optimisation, dispatching procedures, supply chain management.