Analysis on the Inventory Management for Real Dairy Industries Pvt. Ltd.

Abstract

Inventory Management is a vital component for an organisation which deals with the physical goods. An efficient inventory management reduces the cost of the production which affects the cost of the finished goods, a producer will attach the cost of the production to the finished goods. To keep the cost low, inventory management is a must for any organisation. A study has been conducted on the Real Dairy Industries Private Limited in order to understand the inventory management techniques used by the organisation. The organisations inventory management techniques has been incorporated with different models which are FIFO and Economic Ordering Quantity. Company's inventory list and finished goods list have also been used to understand the Inventory management.