Session: PGDM 09
IILM, GREATER NOIDA
We have prepared this study paper for the “Inventory Management System – A Study of Pidilite Industries”. We have derived the contents and approach of this study paper through discussions with company executives and internet as well as with the help of various Books, Magazines and Newspapers etc.
We would like to give our sincere thanks to a host of friends and the teachers who, through their guidance, enthusiasm and couselling helped us enormously As we think there will be always need for improvement. Apart from this, we hope this study would stimulate the need of thinking and discussion on the topics like this one.
TABLE OF CONTENT
Chapter1 STATEMENT ABOUT THE PROBLEM What is inventory Why keep inventory?? Controlling inventory Holding costs. Purchasing cost. Inventory management Features of inventory management Benefits Techniques and software of inventory management Other lot-sizing techniques Other schools of thought in inventory management Steps to effective inventory management Chapter2 A STUDY OF INVENTORY MANAGEMENT IN PIDILITE INDUSTRIES Ltd. Company profile Inventory management at PIDILITE Challenges : single intergrated system decision to implement SAP Business one managing multi location implementations system analysis problem defination Performance requirements System requirements / software requirement System design Design goals Functional flow of the system
Data flow diagram Data store Data flows Technologies used Benefits Chapter3 OBJECTIVES AND SCOPE OF THE STUDY Methodology Data collection Statistical tool used Primary data analysis Chapter4 Chapter5 Chapter6 Chapter7 DATA ANALYSIS CONCLUSION BIBLIOGRAPHY/REFERENCES ANNEXURER
STATEMENT ABOUT THE PROBLEM
The three primary functions that characterize the occupation are management, coordination, and control of inventory and systems of inventory management. Management of inventory records and relevant details is an important area of concern for every organization, whether it is large or small. And also calls for efficient planning and maintenance. Think of a situation when you have to look into various registers to find and enter each and every minor mandatory detail. And the situation goes worse when you need to manage a number of such registers. Every register need to be updated to make the records up to date. Obviously, managing number of such records and registers manually sounds to be truly a laborious job
and calls for efficient and effective planning and implementation of effective skills to get the job done. But what for, if not all but a maximum part of the job of management can be done automatically with just the click of a button!!Sounds a bit relieving and interesting, isn’t it!! Here comes the concept of
WHAT IS INVENTORY
Despite its importance to the supply chain, inventory is not universally well understood. It is variously characterized, both positively and negatively, as an economic asset to a non-income-producing use of capital funds. Only when considered in light of all quality, client service and economic factors—from the viewpoints of purchasing, manufacturing, sales and finance—does the whole picture of inventory become clear. No matter the viewpoint, effective inventory management is essential to supply chain competitiveness.
Inventory is a list for goods and materials, or those goods and materials themselves, held available in stock by a business. Inventory are held in order to manage and hide from the customer the fact that manufacture/supply delay is longer than delivery delay, and also to ease the effect of imperfections in the manufacturing process that lower production efficiencies if production...