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VOL. 11, ISSUE 8 (2025)
A comparative study of traditional versus modern inventory management techniques in consumer goods supply chains
Authors
Shubhangi Shree, Dr. Sharda Kumari
Abstract
Inventory management is a crucial aspect in the supply chain operations
of consumer goods. It involves the planning, control and monitoring of products
from procurement to final consumption. With the rise of globalization and
increasing competition, companies are constantly seeking ways to improve their
inventory management techniques for better efficiency and profitability. This
comparative study aims to analyze and compare traditional versus modern
inventory management techniques utilized by consumer goods companies.
Traditional methods such as Economic Order Quantity (EOQ) and Fixed-Order
Quantity (FOQ) have been widely used for decades while modern techniques like
Just-In-Time (JIT), Vendor Managed Inventory (VMI) and Collaborative Planning
Forecasting Replenishment (CPFR) have emerged in recent years. The research
will focus on three main areas: accuracy, cost-effectiveness and adaptability.
Accuracy refers to the ability of each technique in meeting customer demand
while minimizing stock outs or excess stock levels. Cost-effectiveness will be
evaluated based on total costs incurred including ordering, carrying, and setup
costs as well as lost sales due to stock outs or overstocking. Adaptability
will assess how flexible each method is in adjusting to changing market
demands.
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Pages:183-187
How to cite this article:
Shubhangi Shree, Dr. Sharda Kumari "A comparative study of traditional versus modern inventory management techniques in consumer goods supply chains". International Journal of Commerce and Management Research, Vol 11, Issue 8, 2025, Pages 183-187
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