Economic Order Quantity: The prime objective of inventory management is to find out and maintain optimum level of investment in inventory to minimize the total costs associated with it. The economic order quantity (EOQ) is the optimum size of the order for a particular item of inventory calculated at a point where the total inventory […]
Various Inventory Control Techniques
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Quick Notes on Inventory Control | Cost Accounting
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After reading this article you will learn about: 1. Meaning of Inventory Control 2. Classification of Inventory Control 3. Commonly used Inventory Control Items 4. Stock levels 5. Levels of Materials. Meaning of Inventory Control: Inventory control can be defined as the system used in a manufacturing concern to control the firms investment in Stock. […]
ABC Analysis of Inventory Control | Cost Accountancy
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In this article we will discuss about the BC Analysis of Inventory Control:- 1. Meaning of ABC Analysis 2. Advantages of the ABC Analysis 3. Limitations. Meaning of ABC Analysis: In case of a big manufacturing unit which uses a large number of items for production purpose, it becomes difficult to comprehend such enormous number […]