Typically, Inventory Management Systems are used by firms that either sell a product or manufacture a product for purposes of accounting for all the tangible goods that allow for a sale of a finished product, or parts for making a product. This project is aimed at developing a desktop based application named Inventory Management System for managing the inventory system of any organization. Introduction Inventory Management Systems is a key instrument for businesses when tracking their inventory. xiii. 113 0 obj <>stream Free Download Inventory Management PPT with PDF: Inventory management is obliged for the goods in inventory, also to their inward flow and outward flow.

Inventory management 10.1 Introduction The importance of proper inventory management is evident when one considers that inventories have lead to the demise of many a business.

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Inventory is always dynamic.


Its three main areas of concern are: Acquisition. Definition Inventory Management is an enterprise-wide discipline concerned with the identification and tracking of Information Services (IS) hardware and software assets.

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Every organization constantly strives to maintain optimum inventory to be able to meet its requirements and avoid over or under inventory that can impact the financial figures. There are essentially two approaches to inventory management: ž . … TECHNIQUES OF INVENTORY MANAGEMENT 3.1 Introduction The term ‘inventory’ originates from the French word ‘Inventaire’ and Latin word ‘Inventariom”, which implies a list of things found.

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The downfall of some companies results from the fact that they are simply unaware of, or do not consider, the cost of 1 Introduction 2 Inventory Management 3 Inventory models 4 Economic Order Quantity (EOQ) EOQ model When-to-order? Preface. 0

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Inventory management is a very important function that determines the health of the supply chain as well as the impacts the financial health of the balance sheet. illustrate the benefits of adopting probability density functions that are more adequate to product demand characteristics, in terms of total costs of stocks.

It looks after the units in a firm and makes sure that they are in a moderate amount which does not affect the performance of a company. 68 0 obj <> endobj The Inventory Management System (IMS) refers to the system and processes to manage the stock of