Im Steel
Inventory Management of Steel Industry:
BSRM, RSRM, & Islam Steel Mills Ltd.
Course Title: Project Operations and Management
Course Code: BA-3215
Submitted By:
INVADERS
Sk. Md. Rezowanur Rahman 090311
Md. Faisal Rahman 090336
Shara Binte Hamid 090346
Jafrin Khan 090355
Submitted To:
Md. Reaz Uddin
Assistant Professor
KHULNA UNIVERSITY
Business Administration Discipline
Management & Business Administration School
3rd year, 2nd term
March 06, 2012
Executive Summary
Inventories play a major role in the economy and businesses. From the firm’s view point, inventories represent an investment in capital; capital is required to store materials at any stage of completion. Thus the proper balance must be struck to maintain proper inventory level with the minimum financial impact to the organization.
Inventory management, or inventory control, is an attempt to balance inventory needs and requirements with the need to minimize costs resulting from obtaining and holding inventory. Inventory may be kept “in-house,” meaning on the premises or nearby for immediate use; or it may be held in a distant warehouse or distribution center for future use. With the exception of firms utilizing just-in-time methods, more often than not, the term “inventory” implies a stored quantity of goods that exceeds what is needed for the firm to function at the current time
Table of Contents Executive Summary 2 Introduction 5 Introduction 6 rationale of study 7 Objective 7 Limitation of the studies 7 Literature Review 8 Definitions 9 Why Keep Inventory? 9 Inventory Management 11 Major Types of Inventory 12 Raw material 12 Work-in-process 12 Finished goods 12 Operating Cycle 13 Materials and Methods 14 Methodology 15 Research Methodology 15 Research Questions 15 Data collection method 15 Primary source 15 Secondary source 15 Data Analysis 16 Presentation of data 16 Measurement of Variables 17
BSRM, RSRM, & Islam Steel Mills Ltd.
Course Title: Project Operations and Management
Course Code: BA-3215
Submitted By:
INVADERS
Sk. Md. Rezowanur Rahman 090311
Md. Faisal Rahman 090336
Shara Binte Hamid 090346
Jafrin Khan 090355
Submitted To:
Md. Reaz Uddin
Assistant Professor
KHULNA UNIVERSITY
Business Administration Discipline
Management & Business Administration School
3rd year, 2nd term
March 06, 2012
Executive Summary
Inventories play a major role in the economy and businesses. From the firm’s view point, inventories represent an investment in capital; capital is required to store materials at any stage of completion. Thus the proper balance must be struck to maintain proper inventory level with the minimum financial impact to the organization.
Inventory management, or inventory control, is an attempt to balance inventory needs and requirements with the need to minimize costs resulting from obtaining and holding inventory. Inventory may be kept “in-house,” meaning on the premises or nearby for immediate use; or it may be held in a distant warehouse or distribution center for future use. With the exception of firms utilizing just-in-time methods, more often than not, the term “inventory” implies a stored quantity of goods that exceeds what is needed for the firm to function at the current time
Table of Contents Executive Summary 2 Introduction 5 Introduction 6 rationale of study 7 Objective 7 Limitation of the studies 7 Literature Review 8 Definitions 9 Why Keep Inventory? 9 Inventory Management 11 Major Types of Inventory 12 Raw material 12 Work-in-process 12 Finished goods 12 Operating Cycle 13 Materials and Methods 14 Methodology 15 Research Methodology 15 Research Questions 15 Data collection method 15 Primary source 15 Secondary source 15 Data Analysis 16 Presentation of data 16 Measurement of Variables 17
References: Levin, R. I., and Rubin, D. S. (2009) Statistics for Management. 7th ed. New Delhi: Prentice-Hall Publishing Co., p: 626. Stevenson, William J. Production/Operations Management. 8th ed. Boston: Irwin/McGraw-Hill, 2005. Wikipedia (January 2012) Economic Order Quantity [Online] Available from: http://en.wikipedia.org/wiki/Economic_order_quantity [Accessed: 03 February 2012] Bibliography Bringham, Eugene F. Financial Management: Theory & Practice. New Delhi, Harcourt Asia PTE LTD, 2011. Chandra, Prasanna. Financial Management. New Delhi, Tata McGraw Hill Publishing Co. Ltd., 2008.