An organization has to maintain a great amount of inventory to cushion the fluctuation in demand and supply. It is a significant job for the inventory control personnel to select an appropriate policy and maintain an optimum level of inventory. The selection of inventory policy is very much...

Inventory majorly contributes to total cost of a product. Profitability of any organization is directly dependent on its inventory level. Effective and efficient inventory policy is flexible to counter the dynamic customer demand. Selection of right inventory policy plays a vital role in Return...

Today the market is moving toward multiformity, and it requires a variety in products, which in turn generates variation in demand that gives rise to many managerial problems such as planning, forecasting, production, inventory management, and timely distribution. To minimize the level of risk...