A STUDY ON INVENTORY MANAGEMENT” AT MULTITEK AUTO PARTS IN DODDABALLAPUR.

Abstract

The study on inventory management at Multitek Auto Parts addresses the critical importance of efficient inventory management practices within the automotive parts industry. Multitek Auto Parts, a prominent player in this sector, faces challenges in maintaining an optimal balance between supply and demand while minimizing costs and ensuring customer satisfaction. This research delves into the various strategies employed by Multitek Auto Parts to manage their inventory effectively, considering factors like demand forecasting, procurement methods, stock control techniques, and technology integration. The study not only explores the company's successes and best practices but also highlights potential areas for improvement. By analyzing the inventory management practices at Multitek Auto Parts, this study contributes valuable insights to both academic literature and industry professionals, shedding light on the intricacies of inventory optimization in a competitive automotive parts market. Keywords: Inventory management, Supply chain, Optimization, Inventory control, Demand forecasting, Stock levels, Ordering policies, Reorder point, Safety stock, Just-in-time (JIT),MEconomic order quantity (EOQ) etc.