The inventory management systems of a production unit and some academic institutions: a comparative study
by Sharif
International Journal of Business Performance Management (IJBPM), Vol. 11, No. 1/2, 2009

Abstract: While inventories are necessary to absorb input and demand variations, a balance is needed between blocked capital in the inventories and the impact on production. The rising costs and risks of carrying various types of inventories have focused attention on their proper management and control. Because substantial funds can be at stake, purchasing bears a vital, continuing responsibility for managing inventories prudently. In recent years, significantly improved computer capabilities have enabled companies to cope better with the uncertainties associated with inventories and to reduce inventory costs by setting more efficient inventory levels. In the service industry (academic institutions), where the requirements are more in terms of higher levels of customer satisfaction, the Inventory Management (IM) system should be designed in such a way that it would provide higher customer satisfaction. As some of the systems may not require substantial stores to be warehoused, the best ordering and procurement policies may be at variance with respect to the traditional inventory control system prevailing in the production/manufacturing industry. In this paper I will discuss IM system followed in a production industry and two academic institutions. This study addresses the overall IM system followed in these organisations. The study focuses on understanding and analysing the current inventory system that they are practising. Further, a set of recommendations to improve the system are made.

Online publication date: Thu, 12-Mar-2009

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Business Performance Management (IJBPM):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com