Various inventory management systems are used to manage goods and supplies

Various inventory management systems are used to manage goods and supplies

Satish Prajapati1, Kalpana Sachan2, Harimohan Soni3

1Mechanical Engineering Department, Bansal Institute of Science and Technology, Bhopal (M.P.), India.

2Mechanical Engineering Department, Bansal Institute of Science and Technology, Bhopal (M.P.), India.

3Mechanical Engineering Department, Bansal Institute of Science and Technology, Bhopal (M.P.), India.

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Abstract - Inventory is the predominant component of current assets for the bulk of Indian manufacturing firms. The primary aim of this study is to ascertain if numerous items in the Manufacturing Company can be assessed and comprehended using inventory management approaches. The study is classified as a qualitative single-case study. The applied study approach encompasses ABC analysis. Data gathering mostly occurs through interviews with the manager and other personnel engaged in inventory control activities. Secondary data is gathered from the information system to generate yearly reports, sales reports, buying reports, and associated journals of the firm. The study's research and conclusions offer a response to the essential inquiry about optimal inventory management by an organization. This thesis recommends an adequate number, quality, and timeliness of materials.

Key Words:  Inventory, ABC analysis, quality management, organisation behaviour.