Declaration Case
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I here by declare that the project entitled “INVENTORY MANAGEMENT” Submitted to Lovely Professional University In partial fulfillment of the Requirements For the award of Degree of Master of Business under the guidance of MISS. SUMIT KAUR DHILLON is my original work and not submitted for the award of my any other degree, diploma, fellowship, or any other similar title or prizes First of all I would like to thank my mentor Miss Sumit kaur dhillon and Mr. Sushant and finance department at Lovely Professional University . Specially I would like to thank my mentor Miss Sumit Kaur Dhillon for his interest, guidance and motivation provide by her to me through my project. This has been one of the greatest learnings of my life. I am grateful for his encouragement in the evolution of this material.
I would like to thank my friends for example Rajesh , Ses Ram and store manager Mr. Balvir and supervisor Mr. Rajesh and Mr. Anoop Thakur.
I would like to thank Mr.Kaushal(Sr. H.R. manager) and Mr. J.N.Mishra(Finance Manager) who gave me suggestions to make necessary modifications. Inventory is the stock and material which is movable . It is stored in the store. Store is the house where we can store any material for example raw material , work in progress, finished goods and accessories .
Inventory controls is a system which ensures the provision of the required quantity of inventories at the required time with the minimum amount of capital is to obtain the maximum inventory turnover with sufficient stock to meet all requirements.
Thus the inventory controls management includes the following aspects:-
Size of inventory: determine maximum and minimum levels, establishing time schedules, procedures and lot of size for new orders, ascertaining minimum safety levels, coordinating sales production and inventory policies
Providing proper storage facilities arranging the receipts, disbursements and procurement of materials developing the forms of recording these transactions.
Assigning responsibities for carrying out inventory control function.
Providing for the reports necessary for supervising the overall activity