An Analytical Study on Inventory Management  Practices For an Auto Component Major in Chennai  City

Dr. K. Sadasivan; Mrs. S. Kavitha; Britto A

Volume : III, Issue : VIII, August - 2013

An Analytical Study on Inventory Management Practices For an Auto Component Major in Chennai City

Dr. K. Sadasivan, Mrs. S. Kavitha, Britto A

Abstract :

With the emergence of Toyota Production System, Inventory management has become an integral aspect and touches every facet of operations in a manufacturing organization. The purpose of inventory management is to ensure availability of materials in sufficient quantity as and when required and also to minimize investment in inventories. Higher the inventory holding period; higher will be the loss, risk and uncertainty to the company. Therefore a proper balance must be struck to maintain proper inventory with the minimum financial impact on the organization. A firm neglecting the management of inventories will be jeopardizing its long run profitability and may fail ultimately. The present study focuses on the inventory management practices followed at a major automotive firm in chennai by using various inventory management techniques.