BUILDING RELATIONSHIP MARKETING THROUGH ONLINE MARKETING COMMUNICATION: A SURVEY OF RETAIL STORES IN GUNTUR

Abstract

Inventories generally represent a very significant proportion of total assets. Hence the importance of inventory management cannot be overemphasized. A distinction may be drawn between ‘process or movement’ inventories and organization inventories. The former are required because it takes time to complete a process and to move product from one stage to another; the later are maintained to widen the latitude in planning and scheduling successive operations. Several methods are used for pricing inventories used in production. The important are; (i) first- in first- out(FIFO) method (ii) last- in first- out(LIFO) (iii) weighted average cost method (iv) standard cost (price) method, and (v) current price method. Inventory levels in India are high for variety of reasons.
The most common tools of inventory management in India are:
ABC analysis, FSN analysis, and inventory turnover analysis.
While the overall objective of the inventory system is to minimize the cost to the firm at the risk level acceptable to the management.
There is considerable scope for improving inventory management in India.