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    Aryabhatta Institute of Management

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    Parneet Walia
    This document summarizes a presentation on inventory management. It defines inventory as stock including raw materials, work in progress, finished goods, and stores. It describes different types of inventory like raw materials, work in progress, maintenance supplies, and finished goods. It defines inventory management as planning, directing, and controlling inventory activities to help an organization achieve its goals. It lists objectives like ensuring smooth operations and minimizing costs. Factors that influence inventory policies are also outlined.

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    Aryabhatta Institute of Management

    Uploaded by

    Parneet Walia
    91 views9 pages
    This document summarizes a presentation on inventory management. It defines inventory as stock including raw materials, work in progress, finished goods, and stores. It describes different types of inventory like raw materials, work in progress, maintenance supplies, and finished goods. It defines inventory management as planning, directing, and controlling inventory activities to help an organization achieve its goals. It lists objectives like ensuring smooth operations and minimizing costs. Factors that influence inventory policies are also outlined.

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    Inventory management

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    This document summarizes a presentation on inventory management. It defines inventory as stock including raw materials, work in progress, finished goods, and stores. It describes different types of inventory like raw materials, work in progress, maintenance supplies, and finished goods. It defines inventory management as planning, directing, and controlling inventory activities to help an organization achieve its goals. It lists objectives like ensuring smooth operations and minimizing costs. Factors that influence inventory policies are also outlined.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    91 views9 pages

    Aryabhatta Institute of Management

    Uploaded by

    Parneet Walia
    This document summarizes a presentation on inventory management. It defines inventory as stock including raw materials, work in progress, finished goods, and stores. It describes different types of inventory like raw materials, work in progress, maintenance supplies, and finished goods. It defines inventory management as planning, directing, and controlling inventory activities to help an organization achieve its goals. It lists objectives like ensuring smooth operations and minimizing costs. Factors that influence inventory policies are also outlined.

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    ARYABHATTA

    INSTITUTE OF MANAGEMENT

    Presentation of production & operations management

    Topic:- Inventory Management

    Submitted To:- Submitted By:-


    Mr.Pardeep Kumar Amit chug (157)
    Lech. Of POM Sureshtha Singla (182)
    Parneet Kaur (175)
    Rutesh Khameshra (179)
    INTRODUCTION
    What is inventory ?
    Inventory is any Kind of stock ,including raw
    materials, work in progress, finished good and
    stores & spares.

    For example:- For VARDMAN industry cotton


    procured , cleaned cotton, ropes made by that
    cotton & thread or yarn stored in stores to be
    ready to sell out and boxes to pack that inventory
    all are inventory.
    Forms of Inventory
     Raw material Inventories.
     Work In Progress Inventories.
     Maintenance, Repair, operating Inventories.
     Finished Inventories:-
    Movement / Transit Inventories.
    Anticipation / Buffer Inventories.
    Fluctuation / Cycle Inventories.
    Decoupling Inventories.
    Inventory Management
    Inventory:- “Tangible property (1) held for sale in the ordinary
    course of business (2)in the process of production for such sale or
    (3) to be consumed in the process of production pf goods or
    services for sale.”

    Management :- Management is art and science of planning,


    directing, controlling all the activities in a tactful way.

    So, Inventory Management can be described as an activity of


    Planning a inventory control policy, implementing that
    policy, controlling it in a tactful way that can help the
    organization in a achieving its goals in a sufficient manner.
    Objectives
     To ensure smooth flow of stock.
     To provide required quality of materials.
     To control investment in stock.
     Protection against fluctuating demand.
     Protection against fluctuations in output.
     Minimizing risk & uncertainty.
     Risk of obsolescence.
     Minimizing cost.
    Factors affecting Inventory control
    policy
     Quality requirements.
     Product type
     The nature of production system.
     Production capacity & storage facility.
     Degree of specialization &Differentiation.
     Organizational factors.
     Inventory costs.
     Other factors.
    Conclusion
    To sum up, we can say Inventory management is
    an essential part of any organization. Every
    organisation have manly two objective One is
    Profit maximization &another is wealth
    maximization. Inventory management helps
    the organisation to achieve its objectives.
    Inventory management can use techniques like
    TQM, JIT & ABC etc. to have an effective
    control on its inventory.

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