A Study on Inventory Control and Applications

Abstract

Centuries ago, inventories were viewed as measures of wealth newlineand power of a country or an individual. In recent past it was also newlineviewed as a measure of business failure. Businessmen therefore, newlinehave started to put larger emphasis on the liquidation for fast newlineturnover. Now a day s due to fast advancement of technologies, newlineinventories are viewed as a large potential risk rather than a newlinemeasure of wealth. Thus it is required to use scientific techniques in newlinemanagement of inventories known as Inventory Control . It is the newlinetechnique of maintaining stock-items at desired level. newline