inventory management of big bazaar(thane)

Range of Products Available at Big Bazaar

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Inventory control is concerned with achieving an optimum balance between two competing ob&ectives. 'inimi$ing the investment in inventory. 'aimi$ing the service levels to customer’s and its operating departments.

1.2 CONCEP CONCEPT T OF INVENT INVENTOR ORY Y MANAG MANAGEME EMENT NT:: The dictionary dictionary meaning of )Inventory) is is *a detailed list-stoc! list-stoc! of of goods in this). this). #  practical definition from the material management angle would be )Items ) Items of stores or mate materi rial alss !ept !ept in stoc stoc!! to meet meet futu future re dema demand ndss of prod produc ucti tion on,, repa repair irs, s, maintenance, construction etc.). +ince the materials held in the inventory are idle resource, another definition of inventory would be )an idle resource of any !ind which has an economic value). The inventory means and includes the goods and services being sold by the firm and the raw materials or other components being used in the manufacturing of such goods to be offered to customers whenever demanded by them. Inventory management also means maintaining effective internal controls over inventory, including safeguarding the inventory from damage or theft, using purchase orders to trac! trac! invent inventory ory moveme movement nt,, maint maintain ainin ingg an invent inventory ory ledger ledger,, and frequ frequent ently ly comparing physical inventory counts with recorded amounts.

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