A Survey on Contemporary Inventory Techniques and Problems Faced By Manufacturing Organizations in Pakistan

Abstract

Contemporary industrial environment is very competitive for all organizations. Doing much with less while expanding quality is the principle objective. The aim of this research is to discover different stock administration systems rehearse by assembling organizations with particular reference to Pakistan and to examine the already functional inventory management practices of manufacturing organizations currently working in the country. The research encompasses the problems faced by SMEs in Pakistan and will highlight those factors that are covertly or overtly influencing the effectiveness of the inventory. These problems were previously ignored due to dearth of research in the domain. A survey research design is followed in this study. The target population is textile, Electronics, Automobiles and steel mills from all the major cities of Pakistan. This survey is based on a sample size of 90 manufacturing firms out of total 300. The research has analyzed that assembling organizations are using different stock administration systems. The issues of stock administration looked by these assembling association were inadequate production, spillover, out of stock circumstance, and High lead time and mismanagement of records. The causes identified for these problems are lack of research and development, insufficient technological skills and that of documentation, and they had significantly influenced the effectiveness of inventory management. This research is profoundly huge on the grounds that it gives guidance to the assembling associations in Pakistan to center around the fundamental worry that is fabricating.