Rajnikant George

1. 10/29/09 XIDAS, INVENTORY CONTROL Topic

4. 10/29/09 XIDAS, INVENTORY CONTROL Type of Inventory Reason for holding the Inventory (1 ) Raw materials To reap the price advantage available on seasonal raw materials. (2) Work in progress To balance the production flow. (3) Ready made components When the components are bought rather than made. (4) Scraps They are disposal of in bulk. (5) Finished Goods Lying in stock rooms and waiting dispatches

7. Executive decide two basic issues while dealing with inventories; (a) How much of an item to order when the inventory of that item is to be replenished. (b) When to replenish the inventory of that item. By definition, inventory facilitate production or satisfy customer demands. Inventory system is a set of policies and controls which monitors and determines the levels of inventory. Inventory conventionally include raw materials, work-in-progress, components parts, supplies and finished goods. Operations is a transformation process in which the inputs are raw materials and output is the finished goods. Suppliers Raw materials Finished good customers. 10/29/09 XIDAS, INVENTORY CONTROL Production Work-in-progress

8. 10/29/09 XIDAS, INVENTORY CONTROL Inventory level Supply rate Demand rate

17. 10/29/09 XIDAS, INVENTORY CONTROL Item Quality Quantity order Checking A Costlier Less Regular system to see that there is no overstocking as well as that there is no danger of production being interrupted for unwanted material. B Less costlier Order may be on review basis. Position being viewed in each month C Economical Larger Order in large quantity so that cost can be avoided

18. 10/29/09 XIDAS, INVENTORY CONTROL

20. Balance sheet is were information is calculated to determine losses and gains from daily sales. This is a very important part of fuel management it will give you important records of sales (this is inventory control).

21. This is were information collected from meter totals and tank dips are added and recorded.

22. This is were we record our calculated losses and gains for every individual month. This sheet is used for the years sales report. Will give you sales of individual months. Record keeping is a important method of tracking your inventory.