AbstractsBusiness Management & Administration

The inventory control is the function of directing the movement of newlinegoods through the entire manufacturing cycle from the requisitioning of raw newlinematerials to the inventory of finished goods in an orderly manner to meet the newlineobjectives of maximum customer service with minimum investment and newlineefficient plant operation The stock level of various items in the inventory is newlinegoverned by various constraints such as limited warehouse space limited newlinebudget available for inventory degree of management attention towards newlineindividual items in the inventory and customer service level The objectives newlineof inventory control is to reduce financial investment in inventories to newlinefacilitate production operations to avoid losses from inventory obsolescence newlineand to improve customer service The factors affecting inventory control are newlinedemand, number of items time horizon ordering cycle lead time safety newlinestock and reorder level newlineEffective inventory flow management in supply chains is one of the newlinekey factors for success The challenge in managing inventory is to balance the newlinesupply of inventory with demand newline newline%%%reference p127-134.