Some Aspects of Statistical Quality Control in Inventory Models - Softcover

Konda Reddy, N.; Rao, Nagabhushan; Babu, O. Hari

 
9786202027830: Some Aspects of Statistical Quality Control in Inventory Models

Synopsis

Inventory control is one of the fundamental areas of management in any organisation. According to Love (1979), the term inventory refers to “an idle resource of any kind having an economic value”. Inventory of equipment, Spare parts, domestic consumables etc., are some familiar words in which the word inventory is understood as ‘physical stock awaiting its use or consumption’. The very existence of inventory is due to a temporary halt between the supply and demand processes for the commodity under consideration. It is normally not possible to get items as and when they are demanded. Certain amount of inventory is always necessary for the smooth running of the business. However, neither a high inventory nor a low inventory is desirable because there are costs associated with keeping stock.

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9786200436795: Some Aspects of Statistical Quality Control in Inventory Models: Quality Control in Inventory Models

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ISBN 10:  6200436797 ISBN 13:  9786200436795
Publisher: LAP LAMBERT Academic Publishing, 2019
Softcover