COURSE : INDUSTRIAL ENGINEERING LESSON: INVENTORY CONTROL
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INVENTORY CONTROL In inventory management some inventories are very important and given special care or attention while other few are not so much important and are not given much care. It means all items of inventory cannot and need not be controlled with equal attention. Management for this reason give different items different priorities for their control and management
ABC (ALWAYS BETTER CONTROL) UsageValue (%) 50-60% 30-40% 10-20% Item (%) 10-20% 30-40% 50-60% SF bo Inventory items are classified into A,B,C category based on its consumption value. 5 Iran(x)
VED, HML, SDE, S-OS VED : Vital Essential Desirable-This classification is on the basis of Criticality of inventory item for production system O HML : High Medium Low Similar to ABC but here items are classified on the basis of unit cost but in ABC analysis on the basis of their usage value. SDE: Scare Difficult Easily Available This classification is on the basis of easiness or difficulty of availability of inventory item a s-os: Seasonal Off Seasonal This classification is on the basis of availability of inventory item based on seasonal variations.
Cleared UPSC ESE twice with Rank 63 and 90 in mechanical engg. Got 99 percentile in GATE. Cracked ONGC, BHEL,ISRO, SAIL, GAIL successfully