Inventory Management Free Essays

Purpose of research A study of inventory management is undertaken in order to know the inventory performance and position of selected companies and to know the strength and weakness and to assess the profitability of the companies. Inventories constitute most significant part of assets of large majority of the companies in India. Inventory a double edged sword is usually an asset of an organization, if not used properly it will become liability. We will write a custom essay sample on Inventory Management or any similar topic only for you Order Now It is therefore absolutely very important to manage inventories efficiently and effectively in order to overcome unnecessary investment. Excessive stock, or excess inventory, is the result of bad management of stock demand or of material flow in process management. Excessive stock is also associated with loss of revenue owing to additional capital bound with the purchase or simply storage space taken. Shortage of stocks leads to loss of business, hence inventory management plays a key role. Literature review: †¢Article on inventory management by weilege †¢Case study on coco-cola bottling inventory management by S. L Adyemi †¢Article on inventory management by James H Aim: â€Å"To identify the problems/challenges involved in the Inventory Management process† Objectives: 1. To study the inventory control measures and methods of valuation of inventory of selected companies in India of manufacturing industry 2. To identify problems related to inventory management specific to manufacturing industry of selected companies 3. To make a comparative study of inventory management of selected companies under manufacturing industries and to offer suggestions for effective inventory management Hypothesis: Research hypothesis: â€Å"Optimum inventory management leads to profitability of companies† Research methodology: a)Primary data: The primary data will be collected by personal interviews with officials. b) Secondary data Files, annual reports, periodicals, manuals and text book. Which have already been passed through the statistical process are the secondary data used. Scope of the study: †¢ This study is to find the facts and opinions of inventory management and control of selected companies under manufacturing industries. †¢ In accordance with the present trends it aims mainly at finding out the inventory control procedures. Limitation of the study †¢ The study is related to only specific or selected companies in India of manufacturing industries. Proposed content of the dissertation: 1. Chapter 1: introduction 2. Chapter 2: literature review 3. Chapter 3: data collection and research methodology 4. Chapter 4: analysis and data interpretations 5. Chapter 5: findings and recommendations 6. Chapter 6: Conclusion 7. Bibliography 8. Annexure Work plan: First two weeks : literature review next two weeks: data collection for the project next four weeks: analysis and interpretation of data next two weeks: Findings and suggestions or recommendations next two weeks: compiling of project report last few weeks : correction of report and final report preparation. How to cite Inventory Management, Essay examples