Various Designs and Techniques of Inventory Control: a Case Study Under Field of Operation Research: Exploring the Importance of Inventory Control

Abstract

The importance of inventory to a firm stems from two points of view:financial and operational. First, inventory represents a major financialinvestment for any company. Inventories represent of 25 to 50 per cent of totalassets in manufacturing firms and 75 to 80 per cent in wholesalers andretailers. On the other hand, from the operational perspective, inventories addan operating flexibility.