Study on Inventory MGT System in Cement Manufacturer Sector

S Naresh¹

¹Assistant Professor, ASL Paul's College of Engineering and Technology, Coimbatore, India

Abstract

The purpose of inventory management is to ensure availability of raw material insufficient qualities as and when required and also minimize investment in inventories. This isessential to manage inventories efficiently and effectively in order to avoid excess investment. Itis possible for a company to reduce the level of inventories to a considerable extent without any adverse effect on production and sales by using simple inventory planning and control techniques. The reduction of excessive inventories will create a favorable impact on the company profitability. Inventory turnover ratio, inventory conversion period are very helpful to know how effectively inventory plays a role in the organization. The use of EOQ analysis is very effective and is useful tool for classifying, monitoring and controlling of the inventories.

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Cite this Article as Follows

S Naresh. Study on Inventory MGT System in Cement Manufacturer Sector. International Conference on Global Environmental Changes and Sustainable Development (2018): 34. Print.