2017 |
Volume 6 |
Issue 3
Analysis of Different Inventory Control Techniques: A Case Study in a Retail Shop
1.
S. K. Biswas
– Dept. Of Industrial And Production Engg., Jessore Univ. Of Science And Tech., Jessore, Bangladesh.
2.
C. L. Karmaker
– Dept. Of Industrial And Production Engg., Jessore Univ. Of Science And Tech., Jessore, Bangladesh.
3.
Ariful Islam
– Dept. Of Industrial And Production Engg., Jessore Univ. Of Science And Tech., Jessore, Bangladesh.
4.
Nazmul Hossain
– Dept. Of Industrial And Production Engg., Jessore Univ. Of Science And Tech., Jessore, Bangladesh.
5.
Shamim Ahmed
– Dept. Of Industrial And Production Engg., Jessore Univ. Of Science And Tech., Jessore, Bangladesh.
Received
16-Sep-2017
|
Accepted
-
|
Published
16-Sep-2017
|
Abstract
The inventory of materials constitutes the most significant part of current assets and working capital in any organisation. A small
saving in the inventory will mirror a crucial edge in benefit of the organisation. In Bangladesh, the retail shops generally face two
types of inventory related problems which are either stock-out or overstock. As a result, most of the shops fail to maintain their
product availability with lowest possible inventory cost. Through proper inventory control techniques, probability of stock-out as
well as overstock situations in the retail shops can be minimised. The present paper is a case study of different inventory control
techniques for efficient inventory management system of a retail shop of Bangladesh. The sole purpose of the study is to provide a
guideline for inventory managers that will help them to ensure product availability at right quantity as and when required. Relevant
data were collected from a renowned retail shop, namely, Pran RFL group, Bangladesh. This real case demonstration will certainly
help the future researchers as well as the Bangladeshi manufacturers to maintain proper control & management of inventories.
Keywords Inventory Control, Profit, Stock-out, Overstock, Retail Shop
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