Inventory Management includes detail study about inventory, its importance and effectively it should be managed for smooth operations of business. Inventories are assets of the firm and require investment and hence involve the commitment of firm’s resources. Every firm is required to manage the inventories in such a way as to get the best returns. The objective of inventory management is to determine the optimum level of the inventory that is the level at which the interest of all the departments are taken care of. The inventory management seeks to maximize the wealth of the share holders by minimizing the cost of procuring and maintaining. The objective behind the inventory management is maintaining sufficient stock of raw materials ensuring continuous supply to production process for uninterrupted production schedule and minimizing the total annual cost of maintaining inventories. Inventories are assets of the firm and hence involve the commitment of firm’s resources managers must ensure that the firm maintains inventories at the correct level. Siriguppa Likitha | Dr. B. C. Lakshmanna "A Study on Inventory Management" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45152.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/45152/a-study-on-inventory-management/siriguppa-likitha
International Journal of Trend in Scientific Research and Development (IJTSRD)
Volume 5 Issue 5, July-August 2021 Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470
@ IJTSRD | Unique Paper ID – IJTSRD45152 | Volume – 5 | Issue – 5 | Jul-Aug 2021
Page 1616
A Study on Inventory Management
Siriguppa Likitha
1
, Dr. B. C. Lakshmanna
2
1Student, 2M.A, LLM, MBA, PhD,
1,2JNTUA School of Management Studies, Anantapur, Andhra Pradesh, India
ABSTRACT
Inventory Management includes detail study about inventory, its
importance and effectively it should be managed for smooth
operations of business. Inventories are assets of the firm and
require investment and hence involve the commitment of firm’s
resources. Every firm is required to manage the inventories in such
a way as to get the best returns. The objective of inventory
management is to determine the optimum level of the inventory
that is the level at which the interest of all the departments are
taken care of. The inventory management seeks to maximize the
wealth of the share holders by minimizing the cost of procuring
and maintaining. The objective behind the inventory management
is maintaining sufficient stock of raw materials ensuring
continuous supply to production process for uninterrupted
production schedule and minimizing the total annual cost of
maintaining inventories. Inventories are assets of the firm and
hence involve the commitment of firm’s resources; managers must
ensure that the firm maintains inventories at the correct level.
KEYWORDS: ABC analysis, EOQ, Turnover ratios
How to cite this paper: Siriguppa
Likitha | Dr. B. C. Lakshmanna "A
Study on Inventory Management"
Published
in
International
Journal of Trend in
Scientific Research
and Development
(ijtsrd), ISSN: 2456-
6470, Volume-5 |
Issue-5,
August
2021,
pp.1616-1620,
URL:
www.ijtsrd.com/papers/ijtsrd45152.pdf
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International Journal of Trend in
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