Journal of Management Research
Year : 2004, Volume : 4, Issue : 3
First page : ( 171) Last page : ( 174)
Print ISSN : 0972-5814.

Four-dimensional unified inventory control

Gupta Hari Dayal

Faculty of Management Studies, University of Delhi, Delhi

Abstract

This paper proposes a unified approach for managing inventories of raw materials, components, spares and consumables. In the proposed system materials are classified into 256 categories. For each category, a set of guidelines and rules are framed. All materials are divided into these categories and are governed by their respective rules and policies. The proposed system is dynamic in nature and the items are shifted to new categories depending upon the changing conditions.

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Keywords

Unified Inventory Control, ABC Analysis, VED Analysis, Lead Time, EOQ, Demand Variability, Safety Stock.

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