An Analysis on Inventory Management and its Control at Sri Chamundeswari
Sugars Limited, Shrinivasapura, Hassan.
Author 1: Hruthik G R
IV Sem MBA, RRIAS, RR Institutions Bangalore University, Bangalore ,
Email ID: hruthikhruthik5423@gmail.com
Author 2: Megha K Murthy Assistant Professor, RRIAS, RR Institutions
Bangalore University, Bangalore
Email ID: meghamurthy194@gmail.com ,
ABSTRACT
The project report was carried on at Sri chamundeshawari sugar limited, on the topic “The study on analysis of inventory management and its control at Sri chamundeswari sugars limited’’ Effective inventory management and control are crucial for the success of any manufacturing organization, including sugar factories. This study investigates the current inventory management practices and control at SCSL, with the aim of identifying areas of improvement and optimizing inventory levels. The project based on the both qualitative and quantitative data collection and analysis method. in this study use for statistical tool of chi-square testing and hypothisis testing.
The study reveals that the factory faces challenges in managing its inventory, including overstocking, stockout, and inefficient storage practices. The research identifies the root causes of these issues and proposes a framework for improving inventory management and control, including the implementation of just-in-time (JIT) inventory system, regular stock audits, and staff training. The study concludes that by implementing these recommendations, the sugar factory can reduce inventory costs, improve efficiency, and enhance overall performance. The research mainly focused on the inventory involved that the firm need to be faced while maintain stock and have to frame the strategies and methods to reduce the inventory, The managers its inventory in appropriate manner can be found as there is no much loss to the firm because of stock. Firm has a well-planned mechanism and strategies for managing the inventory.
KEYWORDS : Inventory Management ,Inventory Control ,Stock Management Inventory Turnover, Economic Order Quantity (EOQ),Just-In-Time (JIT) Warehouse Management, Supply Chain Efficiency, Material Handling
