Inventory Management Pattern of Steel Industry in India

Abstract

The aspire of the study is to examine the inventory management procedure and to differentiate the key factors that collision inventory management practices, explore the proficient and viable inventory management approaches. Inventory management is a significant area of the developed industry. If the company fails to manage inventory, it will face failure. It is a challenge for the company to maintain a fair inventory. There are different inventory management techniques available for maintaining a fair inventory level in the company. The essential purpose of this article is to revise inventory management techniques used in the steel industry and find out some methods for the development of the inventory management process of the concerned company.

Keywords: ABC Analysis, EOQ Analysis, Inventory Management, Material, Steel Industry