ABC Analysis, an Inventory Management Technique at a Manufacturing Company

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ABC Analysis, an Inventory Management Technique at a Manufacturing Company

Mukesh Devpura,

Post Guest Faculty, CTAE,

Department of Mechanical Engineering,

UdaiPura

Abstract:

The process of control and management of inventory is a very important factor in the success or failure of any business. Poor or inadequate inventory management can present a serious challenge to the productive capacity of a manufacturing organization. The major objective of this study was to determine of the effectiveness of inventory management in a manufacturing company. This Study was based on both Analytical and Descriptive types. ABC analysis was proportional parts value analysis or demand and supply method or Paretto analysis. The study concluded the materials are classified according to ABC to reduce storage cost. It also helps to rationalize the number of orders and reduce the overall inventory.

Key Words: Inventory, ABC Analysis, Cost

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