Inventory management in organisations: A theoretical perspective
Inventory acquires an important place in the managerial decision making in the organizations. If the inventory is not managed it might result in overstocking, pilferage and expiry. The inventory management is intended to identify the inventory performance and position of the company and to recognize the potency and flaw and to assess the profitability of the company. This again ensures continuous supply, minimized loss, increased production and cost control on the performance of the organizations. This results in the control over substantial costs. The Present study is conceptual in nature to review the literature and the theoretical aspects of Inventory management.