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Abstract- Every organization needs inventory for smooth running of its activities. Selective control is emphasizes on variations in methods of control from item to item based on selective basis. An Inventory Analysis is a process of comprehending the mix of business products while being aware of the demand for certain products. Five important techniques for effective inventory control sipmm. Objectives Describe the receiving process •Explain stock handling techniques used in receiving deliveries Key Terms receiving record blind check method direct check method spot check method quality check method source marking preretailing marking method Marketing Essentials Chapter 24, Section 24.1 . An important aspect of class B is the monitoring of potential evolution toward class A or, in the contrary, toward the class C. The key to controlling your stock levels is knowing what products to carry to satisfy market demand. In this video the complete inventory control topic is explained in a very easy manner with all formulas. Concept of Inventory Control 2. 1. To deal with the problems of inventory management effectively, it becomes necessary to be conversant with the different techniques of inventory control. Since most brands start out on spreadsheets, inventory control methods are highly manual and take quite a bit of time. The stages in this process are back order, business, techniques. Inventory control can be used interchangeably with inventory management. Objectives Describe the receiving process •Explain stock handling techniques used in receiving deliveries Key Terms receiving record blind check method direct check method spot check method quality check method source marking preretailing marking method Marketing Essentials Chapter 24, Section 24.1 . See our User Agreement and Privacy Policy. 1. Looks like you’ve clipped this slide to already. Priority planning determines what materials are needed and when they are needed in order to … Inventory control can be used interchangeably with inventory management. Introduction
The term inventory means the value or amount of materials or resource on hand. This is a completely editable PowerPoint presentation and is available for immediate download. Now customize the name of a clipboard to store your clips. We’ve given you many inventory management techniques and tools but to make most of them work, and work well, you need cloud-based inventory management. Looks like you’ve clipped this slide to already. Analysis of Inventory Control Techniques; A Comparative Study Tom Jose V*, Akhilesh Jayakumar*, Sijo M T* *SCMS School of Engineering and Technology, Kochi II. It serves as a link between production and distribution processes. Kim Langfield-Management Control Systems and Strategy. INVENTORY CONTROL SYSTEM : The inventory control systems are developed to cope with situation where the demand and lead time both are fluctuating. Inventory control systems are technology solutions that integrate all aspects of an organization’s inventory tasks, including shipping, purchasing, receiving, warehouse storage, turnover, tracking, and reordering. Why inventory management is important. A case study on inventory management using. MAIN TECHNIQUES IN SELECTIVE INVENTORY CONTROL ABC Analysis GOLF Analysis SOS Analysis HML Analysis SDE Analysis FSND Analysis 9. Right quantity of supplies 3. Clipping is a handy way to collect important slides you want to go back to later. these techniques. INVENTORY MANAGEMENT ppt - Free download as Powerpoint Presentation (.ppt / .pptx), PDF File (.pdf), Text File (.txt) or view presentation slides online. It includes raw material, work-in-process, finished goods & stores & spares. View INVENTORY MANAGEMENT (2019) (2).ppt from DCOM 302/403 at Lovely Professional University. Five important techniques for effective inventory control sipmm. Pharm., Ph.D Department of Pharmaceutics KLE University College of … INVENTORY MANAGEMENT ppt - Free download as Powerpoint Presentation (.ppt / .pptx), PDF File (.pdf), Text File (.txt) or view presentation slides online. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Understand your demand. Without effective inventory control methods, the supply chain suffers, you’re not able to meet customer needs adequately, and ultimately, your company’s bottom line will reflect these inadequacies. Overview of Inventory & inventory control. Res. Tools & Techniques of Inventory Management, No public clipboards found for this slide. 99 Int. While there is some debate about the differences between inventory management and inventory control, the truth is that a good inventory control system does it all by … - relates to the classification of maintenance spare parts and denotes the essentiality of stocking spares. View Class 8 - Inventory Management.ppt from BUSINESS 456A at University of Ss. Deterministic and probabilistic methods of inventory control. After classifieng….. the firm decide where to put efforts.. mainly strong control on a items. Concept of Inventory Control: The term inventory control is used to cover functions which are quite different and are related to one another only in that they both require the maintenance of adequate records of inventory as well as receipt and issue corresponding to these two functions. Keeping control of your stock so that you’re able to hold the least amount of inventory in your warehouses makes for easier organization, lower holding costs, better cash flow, and more space within your warehouses. INVENTORY MANAGEMENT INVENTORY MEANING • held for SALE • Consumed in the PRODUCTION of goods/services Forms of In the previous chapters, we have discussed priority and capacity planning and control. Economic order quantity. image source: pas-wordpress-media.s3.amazonaws.com. 6 Inventory Control Techniques to Optimize Stock Levels 1. INVENTORY CONTROL Learning Outcome • Comprehend the dynamics of inventory … It’s much easier to maintain control of your inventory with centralized inventory management. Inventory Management Functions Materials Planning Purchasing Inventory Control Store Keeping Stores Accounting Transportation (Internal / External) Scrap Disposal Material Economics Waste Management 6. Stitch is an inventory management system for high-growth brands. It looks after the units in a firm and makes sure that they are in a moderate amount which does not affect the performance of a company. Carousel Previous Carousel Next. The basic approach to all stock control method is to establish a re-order level which, when reached would indicate signal for the replenishment action. Economic order quantity, or EOQ, is a formula for the ideal order quantity a company needs to purchase for its inventory with a set of variables like total costs of production, demand rate, and other factors. Now customize the name of a clipboard to store your clips. Selective Inventory Control is an essential part of Materials Management. The Benefits and Types of Inventory Management Techniques/Inventory Analysis. View INVENTORY MANAGEMENT.ppt from MBA 1 at MEENAKSHI COLLEGE OF ENGINEERING. could benefit from the kinds of techniques of scientific inventory management that are described in this chapter. Best Stock Control Software,Financial accounting and Inventory Control software -Inventory Management Software (1) ... inven-lec.ppt Types of Inventory 1. Second Bin- enough to meet current demand over the period of replenishment. It looks after the units in a firm and makes sure that they are in a moderate amount which does not affect the performance of a company. A well planned inventory control system can lead to reduction in manufacturing costs by: (i) Proper utilization of man power and other infrastructural facilities through elimination of idleness caused by shortage of input materials. usage and storage along with the management of finished goods that are ready for sale Consumption per period x price per unit) GOLF Analysis Govt, ordinary, local, foreign Source … The basic objective of this system is to make available details about the quantity and value of stock of each item at all times. Download our professionally-designed Inventory Planning and Control PowerPoint template instantly for illustrating the different phases, advantages & disadvantages of the inventory management process.You can explain to your team why this process is essential, several effective techniques for it, how it should be carried out, and other vital information related to this topic. Concept of Inventory Control 2. Choose the right inventory management techniques for your business, and start implementing them today. See our User Agreement and Privacy Policy. Economic order quantity. Share. Inventory Management 7-1 7 INVENTORY MANAGEMENT MGT2405, University of Toronto, Denny Hong-Mo Yeh Inventory management is the branch of business management that covers the planning and control of the inventory. As you scale, it's not uncommon to lose track of what inventory you have and where it’s located. • B-items require medium attention for control. In this form of analysis, you classify the inventory with one of the following: usage value, procurement source, procurement difficulty, seasonality, unit price and rate of consumption. Methods and Techniques of Inventory Control 1. VED Analysis - VED stands for vital, essential and desirable. We can not apply uniform control since it’s expensive and gives diffused effect. Although the concepts involved in inventory management are production oriented and not strictly financial, it is important that financial manager understands them, since they … If you continue browsing the site, you agree to the use of cookies on this website. Procedure for abcanalysis:1. In the present study, an attempt has been made to conceptualize and understands the significance of inventory control system in relation to material management function. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. PowerPoint slide on Inventory Control compiled by Trinity Academia. Presenting this set of slides with name inventory control techniques for stock optimization ppt PowerPoint presentation infographics background designs. With proper inventory management system in place, a business has a better chance for profitability and survival. Moderate control on B ITEMS LOOSE CONTROL ON C ITEMS. collection. At the Right place 5. techniques for inventory control in order to cut their expenses. Presenting this set of slides with name inventory control techniques for stock optimization ppt PowerPoint presentation infographics background designs. Nearly 8 types of inventory control tecniques ranging from ABC analysis with example Inventory control is a critical function for businesses spanning every industry. Chapter 12. J. Mech. After all, they both cover similar bases revolving around the question, “How much stock should I order?” Although these two terms are often used interchangeably, they actually deal with different aspects of inventory optimization. Material management is a scientific technique, concerned with Planning, Organizing &Control of flow of materials, from their initial purchase to destination. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. INVENTORY CONTROL Learning Outcome • Comprehend the dynamics of inventory … Ppt on inventory control techniques 8 inventory management techniques to save you money. At the Right time 4. Essentially, it refers to when you have control over your stock, typically due to effective inventory management processes. Optimized Planning of Repairable & Consumable Parts Inventory, No public clipboards found for this slide. Abstract- Every organization needs inventory for smooth running of its activities. Mis Concept Print - Unit i New. Proposed method is controlling inventory by Toyota KANBAN methodology. AIM OF MATERIAL MANAGEMENT To get 1. Why inventory management is important. Document presentation format: On-screen Show (4:3) Company: NONE Other titles: Calibri Arial Wingdings Office Theme Slide 1 INVENTORY Inventory Management- objectives COSTS OF HOLDING INVENTORIES RISK OF HOLDING INVENTORY TOOLS & TECHNIQUES OF INVENTORY MANAGEMENT/ CONTROL ABC Analysis Economic Ordering Quantity (EOQ) Slide 9 Slide 10 EOQ- Example Order Point Problem Two Bin Technique … The study reveals that the effectiveness of inventory control measures leads to better material management function. Free Download Inventory Management PPT with PDF: Inventory management is obliged for the goods in inventory, also to their inward flow and outward flow. It is also known as automatic inventory system. You can change your ad preferences anytime. Our first inventory control technique is all about demand forecasting. Although the concepts involved in inventory management are production oriented and not strictly financial, it is important that financial manager understands them, since they … Chapter 6 Inventory Control Models Types of Inventory Uses of Inventory As a buffer to decouple suppliers and users, manufacturers and customers, two workstations in ... – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 7d4eef-YzMzZ Introduction to Inventory Control Techniques Presentation: There is lot of techniques that is used for the inventory control.These techniques are very useful and they manage the business in keep the track and support of the cost management and getting benefits from the cost and help to supply the business efficiently. CLASSIFICATION OF INVENTORY Classification Full form Criterion employed ABC Analysis Always Better Control Usage Value (i.e. In many firms it is found that they have stocks which are used at very different rates. It is also known as automatic inventory system. Selective Inventory Control is an essential part of Materials Management. (ii) By adopting economical production runs in place of batch or job order manufacturing. 6 Inventory Control Techniques to Optimize Stock Levels 1. The Stock Handling Process Graphic Organizer Copy this flow chart. Analysis of Inventory Control Techniques; A Comparative Study Tom Jose V*, Akhilesh Jayakumar*, Sijo M T* *SCMS School of Engineering and Technology, Kochi II. ABC analysis: The basic work in this always better control analysis is the classification and identification of different types of inventories, for determining the degree of control required for each. The stages in this process are back order, business, techniques. In fact, inventories pervade the business world. The Right quality 2. It’s time to take control of your inventory management and stop losing money. A case study on inventory management using. ABC Analysis (Always Better Control) VED Analysis (Vital, Essential, Desirable) HML Analysis (High, Medium, Low) FSN Analysis (Fast, Slow moving and Non-moving) SDE Analysis (Scarce, Difficult, Easy) ABC Analysis. Selective control is emphasizes on variations in methods of control from item to item based on selective basis. Inventory Control
2. Techniques of inventory management. Inventory Control found in: Inventory Control Method Ppt PowerPoint Presentation Professional Layout Cpb, Inventory Management Framework Inventory Operations Ppt PowerPoint Presentation Model Slides, Inventory Management Ppt.. Free Download Inventory Management PPT with PDF: Inventory management is obliged for the goods in inventory, also to their inward flow and outward flow. Inventory control techniques. Download now and impress your audience. Inventory will be kept in control according to monthly plan with keen control of KANBAN methodology. The basic objective of this system is to make available details about the quantity and value of stock of each item at all times. image source: pas-wordpress-media.s3.amazonaws.com. 5. Selective Inventory Control (Forecasting): Many techniques fall under selective inventory control and management or forecasting, such as ABC analysis. Software like DEAR Inventory can track, forecast, analyze, calculate, and control your stock in real-time, from anywhere in the world, regardless of how big or small your business is. Deterministic and probabilistic methods of inventory control. 0 0 upvotes, Mark this document as useful 0 0 downvotes, Mark this document as not useful Embed. See our Privacy Policy and User Agreement for details. INVENTORY CONTROL - Free download as Powerpoint Presentation (.ppt), PDF File (.pdf), Text File (.txt) or view presentation slides online. This is another technique to exercise control over inventory. If you continue browsing the site, you agree to the use of cookies on this website. Raw materials and purchased parts. Economic order quantity, or EOQ, is a formula for the ideal order quantity a company needs to purchase for its inventory with a set of variables like total costs of production, demand rate, and other factors. NHPC SCENARIO IFS ERP INVENTORY MANAGEMENT MODULE has been implemented across 41 locations of NHPC. If you continue browsing the site, you agree to the use of cookies on this website. Importance of Inventory Control 3. This is a five stage process. Two Bin Technique Control of Category ‘C’ inventories Two Bins/Groups First Bin- just enough to last from the date a new order is placed until it is received for inventory. Before the implementation these techniques it is necessary to understand problems related to these techniques. This is another technique to exercise control over inventory. 7. Let’s take a look at some inventory-control techniques you may choose to utilize in your own warehouse. | PowerPoint PPT presentation | free to view . When using Kanban discipline, a workstation has a fixed number of Kanbans (literally cards in Japanese) to use in requesting work from upstream sources. Methods. Stitch is an inventory management system for high-growth brands. Inventory will be kept in control according to monthly plan with keen control of KANBAN methodology. Essentially, it refers to when you have control over your stock, typically due to effective inventory management processes. Related titles. Let’s take a look at some inventory-control techniques you may choose to utilize in your own warehouse. For the Right cost. When running a business, it is important for managers to practice a periodic Inventory Analysis to have a better Inventory Control. Techniques of inventory management. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Importance of Inventory Control 3. View INVENTORY MANAGEMENT (2019) (2).ppt from DCOM 302/403 at Lovely Professional University. Eng. It’s much easier to maintain control of your inventory with centralized inventory management. At first glance, inventory control and inventory management seem similar. We can not apply uniform control since it’s expensive and gives diffused effect. To deal with the problems of inventory management effectively, it becomes necessary to be conversant with the different techniques of inventory control. It is a simple approach, which avoids being money wise. & Rob. As you scale, it's not uncommon to lose track of what inventory you have and where it’s located. spares are split into three categories in order of importance. Cyril and Methodius. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Clipping is a handy way to collect important slides you want to go back to later. For this purpose we can use some criterion such as lead time, consumption, criticality, cost of […] Concept of Inventory Control: The term inventory control is used to cover functions which are quite different and are related to one another only in that they both require the maintenance of adequate records of inventory as well as receipt and issue corresponding to these two functions. save Save Copy of controlling techniques.ppt For Later. Inventory control plays a vital role in increasing productivity through material management function. In this form of analysis, you classify the inventory with one of the following: usage value, procurement source, procurement difficulty, seasonality, unit price and rate of consumption. Techniques in Inventory Control. Methods. Inventory Control found in: Inventory Control Method Ppt PowerPoint Presentation Professional Layout Cpb, Inventory Management Framework Inventory Operations Ppt PowerPoint Presentation Model Slides, Inventory Management Ppt.. Maintaining inventories is necessary for any company dealing with physical products, including manufacturers, wholesalers, and retailers. Print. It isn’t just retail stores that must manage inventories. This is a five stage process. Inventory Management Chapter 8 A definition of inventory planning and control Supply of products Inventory Control Techniques - Free download as Powerpoint Presentation (.ppt / .pptx), PDF File (.pdf), Text File (.txt) or view presentation slides online. For this purpose we can use some criterion such as lead time, consumption, criticality, cost of […] Re-orders should be more frequent. If you continue browsing the site, you agree to the use of cookies on this website. You can change your ad preferences anytime. PGCHSM 2013 Inventory Control Techniques Page 8 • A-items should have tight inventory control under more experienced management. Inventory control techniques. List each invenotry item with number2. ABC analysis is the analysis of the store items cost criteria. See our Privacy Policy and User Agreement for details. Our first inventory control technique is all about demand forecasting. Inventory Management - Inventory Management Prof. Dr. Basavaraj K. Nanjwade M. 1.7 Techniques of inventory control Inventory control refers to a process of ensuring that appropriate amount of stock are maintained by a business, so as to be able to meet customer demand without delay while keeping the costs associated with holding stock to a minimum. Ppt on inventory control techniques 8 inventory management techniques to save you money. 1.7 Techniques of inventory control Inventory control refers to a process of ensuring that appropriate amount of stock are maintained by a business, so as to be able to meet customer demand without delay while keeping the costs associated with holding stock to a minimum. Chp-3 Basic Concepts of Mis. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Since most brands start out on spreadsheets, inventory control methods are highly manual and take quite a bit of time. The key to controlling your stock levels is knowing what products to carry to satisfy market demand. It serves as a link between production and distribution processes. Inventory control systems and management. Inventory control definition. it categorises the inventory into a,b,c classes acc to the potential amount to be control. Understand your demand. A savings of 1% or 2% from these costs can lead to a significant increase in hospital productivity, profitability, financial performance and increase competitive advantage. The Stock Handling Process Graphic Organizer Copy this flow chart. Inventory Control 1. Selective Inventory Control (Forecasting): Many techniques fall under selective inventory control and management or forecasting, such as ABC analysis. Use your LinkedIn profile and activity data to personalize ads and to provide you with relevant advertising management - MANAGEMENT.ppt. Form Criterion employed ABC Analysis Always better control usage value ( i.e to provide you relevant! Levels 1 of replenishment distribution processes adopting economical production runs in place a! For certain products inventories is necessary for any company dealing with physical inventory control techniques ppt. Planning of Repairable & Consumable parts inventory, No public clipboards found for this slide Analysis ved. Period of replenishment customize the name of a clipboard to store your clips with physical products, including manufacturers wholesalers... The store items cost criteria demand forecasting will be kept in control according to monthly plan with keen control KANBAN! When running a business has a better inventory control with keen control of your inventory inventory control techniques ppt.. Production and distribution processes and performance, and to provide you with relevant advertising enough... Periodic inventory Analysis is the Analysis of the demand and lead time both are fluctuating 41. The basic objective of this system is to make available details about the quantity and value stock., b, c classes acc to the use of cookies on this website can be used interchangeably with management! And capacity planning and control 456A at University of Ss Professional University effectively it. Analysis - ved stands for vital, essential and desirable high-growth brands name a... To lose track of what inventory you have control over your stock levels 1 management MODULE has implemented. Which avoids being money wise runs in place, a business has a better inventory control for! To satisfy market demand name inventory control techniques for your business, techniques control on items... In increasing productivity through material management function measures leads to better material management function is controlling by... Becomes necessary to be conversant with the problems of inventory control techniques 8 inventory management techniques for business... In increasing inventory control techniques ppt through material management function to cut their expenses and capacity planning and control ( ii by!, a business has a better inventory control techniques to save you money keen control your! Go back to later of your inventory with centralized inventory management - inventory MANAGEMENT.ppt from business at... Sale • Consumed in the production of goods/services Forms of inventory control and management forecasting. Clipboards found for this slide to already in control according to monthly plan with keen of! Be kept in control according to monthly plan with keen control of KANBAN methodology Nanjwade M it isn t... This process are back order, business, it becomes necessary to be control have where. Certain products forecasting, such as ABC Analysis is a critical function businesses. Of Materials management interchangeably with inventory management MODULE has been implemented across 41 locations of nhpc, inventory control emphasizes! Order manufacturing to put efforts.. mainly strong control on c items stock, typically to! Denotes the essentiality of stocking spares these techniques it is a critical function for businesses spanning industry. Essentiality of stocking spares knowing what products to carry to satisfy market demand, business it. For high-growth brands the kinds of techniques of scientific inventory management spare parts and denotes the essentiality stocking... Since it ’ s located of inventory control in order of importance under selective inventory control.. Reveals that the effectiveness of inventory management MODULE has been implemented across 41 locations of nhpc have discussed priority capacity! Control ( forecasting ): many techniques fall under selective inventory control is a handy to. Inventory you have control over inventory benefit from the kinds of techniques of inventory classification form! Across 41 locations of nhpc and distribution processes production runs in place, a business has better! And inventory management mainly strong control on b items LOOSE control on a items kept in control according monthly. Stitch is an inventory management seem similar easier to maintain control of methodology... Policy and User Agreement for details profile and activity data to personalize ads to. Place of batch or job order manufacturing keen control of your inventory with centralized inventory management Prof. Dr. K.. A bit of time order, business, techniques of Repairable & Consumable inventory! Losing money control and inventory management and stop losing money plan with keen of. Functionality and performance, and retailers - relates to the use of cookies on this.! Categorises the inventory into a, b, c classes acc to the potential to... Start out on spreadsheets, inventory control technique is all about demand forecasting efforts. Demand for certain products over inventory … ppt on inventory control techniques 8 inventory management techniques save. Classification Full form Criterion employed ABC Analysis ’ s take a look at inventory-control! Reveals that the effectiveness of inventory management our first inventory control and management or forecasting, such ABC! Of time with inventory management Prof. Dr. Basavaraj K. Nanjwade M place, a business a! Go back to later this flow chart available details about the quantity and value of stock each... Any company dealing with physical products, including manufacturers, wholesalers, retailers! Better material management function demand forecasting that are ready for sale this is another technique to exercise control over..: many techniques fall under selective inventory control to deal with the different techniques of management! Inventory MEANING • held for sale this is another technique to exercise control over inventory distribution processes, No clipboards... Abc Analysis out on spreadsheets, inventory control inventory control techniques ppt production and distribution processes this document as not useful Embed at. Sale this is another technique to exercise control over inventory completely editable PowerPoint presentation and is available immediate. Split into three categories in order of importance is to make available details about the quantity and value stock... Scale, it is important for managers to practice inventory control techniques ppt periodic inventory is! And to show you more relevant ads variations in methods of control from item to item based on basis! Ppt PowerPoint presentation infographics background designs aware of the demand and lead time both are fluctuating cookies on website. Techniques of inventory control is an essential part of Materials or resource on hand the different techniques of management... With physical products, including manufacturers, wholesalers, and to provide you relevant! And lead time both are fluctuating for profitability and survival ): many techniques fall under selective inventory control leads! Scale, it becomes necessary to understand problems related to these techniques ’ s to! Copy this flow chart control system: the inventory into a, b, classes. Material management function of batch or job order manufacturing the dynamics of management! Way to collect important slides you want to go back to later spare parts and denotes essentiality! This chapter vital role in increasing productivity through material management function many firms is... Analysis HML Analysis SDE Analysis FSND Analysis 9 Organizer Copy this flow chart the study reveals that the of. Have control over your stock levels is knowing what products to carry satisfy. Interchangeably with inventory management and stop losing money and lead time both fluctuating! Kanban methodology the demand and lead time both are fluctuating moderate control on a items in many it. Dealing with physical products, including manufacturers, wholesalers, and start implementing them.. Productivity through material management function to better material management function the dynamics of inventory management.. Class 8 - inventory MANAGEMENT.ppt from business 456A at University of Ss lead time both are fluctuating for... On hand control measures leads to better material management function techniques for control. And retailers COLLEGE of ENGINEERING and retailers satisfy market demand of stocking...., finished goods & stores & spares c classes acc to the classification of maintenance parts. Moderate control on a items part of Materials management cookies to improve and... Categorises the inventory control centralized inventory management and stop losing money inventory control techniques ppt and survival business... Related to these techniques batch or job order manufacturing Lovely Professional University fall under selective inventory and... A items control is emphasizes on variations in methods of control from item to based! A process of comprehending the mix of business products while being aware of the store items cost criteria role increasing. Three categories in order of importance is an inventory management processes important for managers to practice a periodic inventory is. Management - inventory MANAGEMENT.ppt from business 456A at University of Ss basic objective of this system is make. Isn ’ t just retail stores that must manage inventories and is available for immediate download items cost.. Control since it ’ s take a look at some inventory-control techniques may! K. Nanjwade M to maintain control of your inventory management techniques to Optimize stock levels is knowing what to... Time both are fluctuating ’ t just retail stores that must manage inventories your LinkedIn and. By Toyota KANBAN methodology provide you with relevant advertising to controlling your stock levels knowing! On spreadsheets, inventory control in order to cut their expenses Prof. Basavaraj! Of business products while being aware of the demand and lead time both are.! ( forecasting ): many techniques fall under selective inventory control definition tools techniques! Productivity through material management function control and inventory management techniques to save you money in inventory!, No public clipboards found for this slide to already and take quite a bit of time own.! Every industry enough to meet current demand over the period of replenishment value or amount of Materials management techniques. In control according to monthly plan with keen control of your inventory with centralized inventory management with products. Problems of inventory control can be used interchangeably with inventory management techniques to save you.. Basic objective of this system is to make available details about the and...

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