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Published Paper Details:
Study of implementation of Just in time inventory management technique in Manufacturing Industry
Authors
Dr. Vivek Hamal,Sagar Patel,Harmish Vyas,Saurabh Bhuria
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Keywords
Key Words: Just in time, overstocking, understocking, customer satisfaction, inventory management.
Abstract
Manufacturing industry deal with the converting the raw material into the finished product, there are several activities which
are associated in this process and all this processes are associated with the several expenses which are Machining expenses, labour expenses,
electricity expenses, inventory expenses, marketing and operational expenses etc. among this all cost the inventory expenses hold the more
than 50% of the total expenses and 70% cost of the product MRP, due to this inventory is most important for manufacturing industry for
lowering the product price as well as for quality of product. Poor inventory management can create several problems for the manufacturing
industry which are higher inventory related cost, storage issues, no optimum level of inventory, poor efficiency, higher wastage and longer
delivery period. This all problem is cause create unbalance in the process and leads to reduces the product quality as well as it directly affect
the profitability of the company, also it directly increase the product price and leads to lesser customer satisfaction level because customer
want product with lesser price and good quality. This study aim is to analysis the inventory related issues that industry faces also analysis the
effectiveness of just in time inventory management technique with its all benefits, lacking and effective method for implementation.
IJCRT's Publication Details
Unique Identification Number - IJCRT24A3124
Paper ID - 254458
Author type - Indian Author
Page Number(s) - j509-j526
Pubished in - Volume 12 | Issue 3 | March 2024
DOI (Digital Object Identifier) -
No Of Downloads - 32
Author Country - India, 391760, Vadodara, Vadodara, 391760, Management All
Publisher Name - IJPUBLICATION | www.ijcrt.org | ISSN : 2320-2882
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Dr. Vivek Hamal,Sagar Patel,Harmish Vyas,Saurabh Bhuria, "Study of implementation of Just in time inventory management technique in Manufacturing Industry", International Journal of Creative Research Thoughts (IJCRT), ISSN:2320-2882, Volume.12, Issue 3, pp.j509-j526, March 2024, Available at :http://www.ijcrt.org/papers/IJCRT24A3124.pdf
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