Financial Management

24

Inventory Management

“Inventory control is one area that differentiates successful and unsuccessful companies.”

 

Anonymous

LEARNING OBJECTIVES

After reading this chapter, you will be able to:

1. Understand the concept of inventory management.

2. Look at the various types and characteristics of inventory.

3. Understand the significance of inventory and its management.

4. Discuss the various costs related to inventory for efficient inventory management.

5. Understand the need for efficient inventory management and inventory control.

6. Discuss the concepts of economic order quantity (EOC) and inventory control.

7. Understand the concept of ABC analysis for inventory management.

FINANCE IN PRACTICE

ITC is one of India's foremost private companies and ...