Inventory Management

The book provides a self-contained overview of inventory management. It progresses from fundamental principles to advanced material and newer developments. It makes no assumptions about prior knowledge of the subject, and anyone reading the book will find it simple to develop a thorough understanding of the subject.
The book also avoids assuming any prior knowledge of management, operations, mathematics, accounting, or any other topic. This means that it will be useful to a wide range of people, including students taking a general
course in management, business, commerce, or a related field. It can also be used for more specialized courses in marketing, supply chain management, operations management, operational research, management science, or manufacturing, for example. It is also useful for practicing managers who want to understand more about inventory management and how to apply the concepts in their work. Whatever your background, you can use this approachable and user-friendly book to learn about current inventory management thinking and practices.

Inventory Management Syllbus For B.Com. IIIrd Semester of Various Universities of Uttarakhand & Uttar Pradesh.

• Unit I : Inventory Management : Concept, Meaning, Inventory Management Process, Why inventory management is important? Principles of Inventory Management, How to improve inventory management, perpetual inventory system, what are inventory costs, Role of Inventory Management, Methods of Inventory Management, Benefits of good Inventory Management.
• Unit II : Concept and Valuation of Inventory : Concept and Objectives of Inventory, Need for holding Inventory, Planning and controlling Inventory levels, Effects of excess inventory on business, Product Classification, Product Coding, Lead Time, Replenishment Methods.
• Unit III : Management of Working Capital : Concept, Meaning, Classification, Factors determining Working Capital requirements, Sources of Working Capital, Need of Working Capital, Working Capital Ratio–current ratio, quick ratio, absolute liquid ratio, cash ratio and working capital turnover ratio.
• Unit IV : Inventory Control : Concept and Meaning of Inventory Control, Objectives and Importance and Essentials of Inventory Control, Types of Inventory, Techniques of Inventory Control–EOQ, ROP, ABC, VED, JIT, Determination of Inventory levels, Impact of Inventory Inaccuracy, Disposal of Obsolete and Scrap items, Reasons for Obsolescence, Control of Obsolescence, Control of Scrap.

Content

1. Inventory Management
2. Concept And Valuation Of Inventory
3. Effect Of Excess Inventory On Business
4. Management Of Working Capital-I
5. Management Of Working Capital-II
6. Inventory Control
7. Techniques Of Inventory Control