Production & Operation Management Full Series - No.20 ~ Inventory | Meaning | Types | Inventory Control | Inventory management | (Hindi) |

✅ Production & Operation Management Full Series ✅ https://www.youtube.com/playlist?list=PLPf7aahSRKFVJixTVuDVcpl4mxRe1IInJ ========================== 📕 Purchase Production & Operation Management PDF Book 📕 https://imojo.in/1TxEGJJ ========================== 📌 Inventory 00:00 Starting 00:23 Purchase PDF BOOK of Production & Operation Management 00:50 Meaning of Inventory 02:22 Definition of Inventory 03:05 Types of Inventory 07:55 What is Inventory Control 09:32 What is Inventory Management 👉 Meaning of Inventory Inventory refers to the raw materials, work-in-process, and finished goods that are either ready or will be ready for sale. It is a highly valuable asset for any business, but it can also become a liability if there is too much of it. The primary objective of having inventory is to sell it to customers at a profit. 👉 Definition of Inventory According to Goff Relph & Catherine Milner - Inventory covers all the goods and materials that an organization owns or holds and which a business intends to add value before selling. 👉 Types of Inventory 1.) Raw Material 2.) Work in process 3.) Finished Goods 👉 What is Inventory Control Inventory control is a systematic approach to determining the optimal amount of stock necessary to meet production demands and provide the correct materials to departments in the appropriate quantities and at the right time. This method helps prevent issues such as overstocking and understocking, which can have negative consequences. Overstocking can tie up working capital and result in wasted, spoiled, or unused materials, while understocking can disrupt production schedules and impact deliveries. 👉 What is Inventory Management Effective inventory management is a methodical process that guarantees the timely availability of the ideal inventory for an organization's needs. This ensures that there is always sufficient stock to fulfill customer orders without any setbacks. Maintaining the proper inventory level avoids overstocking or understocking. #inventory #inventoryvideo #inventorysystems #inventorymanagement #inventorycontrol #productionmanagement What is inventory example of inventory Explain the Types of inventory What is Inventory Control full explanation Explain in detail about Inventory management What is inventory control in operation research