Paper Title :Raw Material Inventory Management of an Integrated Iron and Steel Industries - A Case Study

Author :Alok Kumar Singh, Sandeep Mondal

Article Citation :Alok Kumar Singh ,Sandeep Mondal , (2016 ) " Raw Material Inventory Management of an Integrated Iron and Steel Industries - A Case Study " , International Journal of Management and Applied Science (IJMAS) , pp. 144-150, Volume-2,Issue-11

Abstract : Supply Chain Inventory Management plays a very vital role in achieving operational excellence of any business organization. It is very critical and challenging task for an integrated iron and Steel plant to match the requirement of Raw Materials with fluctuating steel market demand. In this paper, we analyze the importance and criticality of Raw Materials Inventory Management with respect to various production rates in a typical integrated iron and steel plant of India. Furthermore, we analyze the various factors and functions, which affect the raw materials inventory management and perform the value analysis of the Inventory. We have analyzed the present system, based on the SWOT analysis and suggested the improvement by introducing proper cost effective material procurement and storage so as to minimize waste and material holdup and successfully meet the supply and demand of raw materials. Index Terms— Raw Material Inventory, Steel Industries, Cost Analysis.

Type : Research paper

Published : Volume-2,Issue-11

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