CHAPTER 16
Inventory Management
LEARNING OBJECTIVES
- Highlight the need for and nature of inventory.
- Explain the techniques of inventory management.
- Discuss the process for managing inventory.
INTORDUCTION
Inventories constitute the most significant part of current assets for a large majority of companies in India. On an average, inventories are approximately 60% of current assets in manufacturing companies in India. Because of the large size of inventories maintained by firms, a considerable amount of funds is required to be committed to them. It is, therefore, absolutely imperative to manage inventories efficiently and effectively, in order to avoid unnecessary investment. A firm neglecting the management of inventories will be jeopardizing ...
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