Ten Ways to Reduce Inventory |
Author(s): |
| Aditya Jha , Student, Christ University; Nidhi Agrawal, Student, Christ University; Shashank Sankar, Student, Christ University |
Keywords: |
| Inventory Management |
Abstract |
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Inventory Management has been a major concern in most organisations and hence this article states ways in which inventory can be reduced and optimised in organisations. These methods are proven useful while reducing inventory in organisations as well as reducing the inventory carrying cost which needs to be paid at the time of production in any organisation. A few of them include Material Requirement Planning (MRP), Just in Time and Just in Case Planning. This would in return help the company to pay complete attention to the core competency that is their production. Hence reducing the inventory carrying cost drastically, increasing the profit levels of the organisation. Thus, this research article provides various ways in which a company can reduce their inventory by making the supply chain more efficient by the 10 ways stated in the article. |
Other Details |
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Paper ID: IJSRDV5I120077 Published in: Volume : 5, Issue : 12 Publication Date: 01/03/2018 Page(s): 152-155 |
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