An Empirical Study of Inventory Management with reference to Construction Sector

An Empirical Study of Inventory Management with reference to Construction Sector

Chanchal Mukherjee1, Dr. P. Venkata Rao2

1Research Scholar (PP.COM.0275C), Department of Commerce, Rayalaseema University, Kurnool, Andhra Pradesh, India

2Professor (Research Supervisor), Department of Management Studies, Gayatri Vidya Parishad College of Engineering (Autonomous), Visakhapatnam, Andhra Pradesh, India

Abstract:

Inventory management is a critical part of construction Industry. Inventory Management system consist of different tasks like finding suitable materials, procurement process of those materials, transportation. Inventories represent the second largest asset category for construction companies, next to plant and equipment. Inventory would be the number of raw materials, fuel and lubricants, spare parts and semi-processed material to be checked inventories for the smooth running of construction firm. The main objective of our study is to investigate the efficiency and its impact in application of inventory management system in construction projects. Identification of impacts and risk influence of inventory management systems in a construction project. The lack of proper handling and storage of material in construction site has made it difficult to track and locate the material availability and suggestion about inventory management system and its control over efficiency construction projects will be analyzed and the outcome of the effective utilization of inventory at construction site to overcome the difficulties by giving best the possible recommendations. ABC analysis is one of the most conventionally inventory management system suited for construction infrastructure.

Keywords: Construction, Efficiency, Inventory, Management, Material, Organizations, Productivity