Selective Inventory Control Essay

Inventory Selective Control Methods

Inventory selective control techniques

Sandeep Singh

Pgpm1013-047

Abstract

A qualitative study on selective inventory control techniques generally practiced in Industry.

Inventory Selective Control Methods

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Table of Contents

1. Abstract: ........................................................................................................................................................ 2

2. Introduction: ................................................................................................................................................. 2

3. Literature study: ............................................................................................................................................

It must be noted that a material manager has to comprehensively supervise category 1 items since an item may be a low cost one but critical for patient care. ( oxygen regulator)  Category I items: these items are the most important ones and require control by the administrator himself.  Category II items: these items are of intermediate importance and should be under control of the officer in charge of the stores.  Category III items: these items are of least importance which can be left under the control of the store keeper. The grouping will essentially depend upon the strategy of management and the environment of functioning. However these simple techniques can be effective in material management system. Items with high criticality (V), but required in small quantity (A) should receive highest priority. Items with low criticality (D) and which are required in big quantity should receive least