Paper Contents
Abstract
Inventory management is a critical component of efficient business operations, particularly in manufacturing and production. It involves the strategic planning, organizing, and controlling of inventory levels to meet demand while minimizing costs. Inventory, defined as a usable but idle resource, includes raw materials, work-in-progress (WIP), finished products, and spare parts. Effective inventory management ensures a balanced supply chain, preventing production stoppages and loss of sales due to stockouts
Copyright
Copyright © 2024 Amit Sawarkar. This is an open access article distributed under the Creative Commons Attribution License.
Paper ID:
IJPREMS41100051046
ISSN:
2321-9653
Publisher:
ijprems