Inventoman , An institute neglecting the inventory management may fail ultimately. It is possible for an institute to reduce its level of inventories to a considerable degree, e.g. 10 to 20 percent, without any adverse effect on the smooth working, by using simple inventory planning and control techniques. The reduction in inventories carries a favorable impact on the working of the institute. Maintaining inventories involve in locking up of the institute’s funds and incurrence of huge storage and handling costs. Both excessive & inadequate inventories are not desirable.
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