ABC & HML Analysis for Inventory Management– Case Study of Sponge Iron Plant
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2017, Vol 5, Issue 1
Abstract
An inventory management is most commonly used technique to manage inventory efficiently in company. The company wants to control their inventory cost, so they used to different type’s inventory techniques to control this. There are several techniques such as ABC, HML, VED, XYZ and S-OS. In this study we shall focus on ABC &HML analysis. In ABC analysis the items are categories into A, B, C category based on total cost usage. In HML analysis the items are categories into H, M, L category based on unit cost. Data collection is mainly of 6 month through the general store manager and other staff involved in inventory control operation of steel plant.
Authors and Affiliations
Yogesh Kumar, Subhash Janghel, Jalam Singh Dhiwar, Rupesh Kumar Khaparde
Keywords
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