Effective Inventory Control as a Means of Improving An Organization is Performance

Effective Inventory Control as a Means of Improving An Organization is Performance

Following from the importance of this study in the manufacturing industries, many practicing managers management practitioners, students and experts in management have suggested ways and means of arriving at the optional stock level necessary for organizations,  performance, many have viewed inventory definitions, classifications, function, control and flow cycle differently from other depending on ones status, academic orientation environment etc.

It is on this ground that Love (1979) stated that “inventory is a quantity of goods or materials in the control of an enterprise and held for a time in a relatively idle or unproductive state, awaiting its intended use or sale”. [Read more…]