Abstract
Inventory management in Indian steel industry is felt as one of the unexplored area in terms of research practices. This study attempts to understand the major aspects of inventory management of Indian steel industry like major inventory management issues prevalent in steel firms, and impact of these issues, drivers, barriers, and possible measures that may help to resolve these issues. This study is based on an exploratory qualitative study of major Indian steel firms. The narratives reveal six major themes: Inventory management practices; Inventory issues in the steel industry; Major drivers for effective inventory management in Indian steel industry; Major barriers for the implementation of effective inventory management techniques including the implementation of ERP/MRP to manage inventories; Impact of inventory issues; Inventory control techniques to resolve these issues.
Highlights
Inventory management is one of the most difficult planning and control activities in a manufacturing enterprise
Six broad themes emerged from the analysis of the interviews which are relevant to the understanding of inventory management in Indian steel industry : Inventory issues in the steel industry ; Major drivers for effective inventory management in Indian steel industry; factors responsible for its existence; Major barriers for the implementation of effective inventory management techniques including the implementation of ERP/MRP to manage inventories ; Impact of inventory issues ;Inventory control techniques to resolve these issues
The initial question that guided our research was: what are the prominent inventory issues that majority of Indian steel firms from leading to medium as well as small enterprises are facing? Along with this other aspect that involves factors, drivers, barriers, its impact and suggested methods are conside red. From these six themes emerged: Inventory issues in the steel industry; Major drivers for effective inventory management in Indian steel industry; factors responsible for its existence; Major barriers for the implementation of effective inventory management techniques including the implementation of ERP/MRP to manage inventories; Impact of inventory issues; Inventory control techniques to resolve these issues
Summary
Inventory management is one of the most difficult planning and control activities in a manufacturing enterprise. From a survey [8] it is revealed that in the Indian Inventory Management context, it is suggested that more than 70% of the companies lacked the unified inventory management system This problem is further complicated by lack of information about the availability of each product and material for the people who (sales representative, manager, production planner , etc) needs them. These problems result in non-realistic delivery times promised to the end customer, chaotic production planning, stress and disgust of production workers, etc [6].
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