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  1. Yangon University of Economics
  1. Yangon University of Economics
  2. Yangon University of Economics Research Journal and Universities Research Journal

A Study on Inventory Management of Faith & Love Furniture Manufacturing Firm (Myint Myint Kyi, Myat Su Tun Lwin, 2016)

http://hdl.handle.net/20.500.12678/0000001671
http://hdl.handle.net/20.500.12678/0000001671
cbac8c7d-1bad-4715-89a7-dad04350736d
1be8e054-c412-4159-85a7-0c9e12e22dbd
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Title
Title A Study on Inventory Management of Faith & Love Furniture Manufacturing Firm (Myint Myint Kyi, Myat Su Tun Lwin, 2016)
Language en
Publication date 2016-01-01
Authors
MYINT MYINT KYI
MYAT SU TUN LWIN
Description
Predicting exact levels of sales and raw materials. usage needs for production were the most pertinent reasons why organizations maintain inventory management. As such, inventory serves as a buffer against uncertain and fluctuating demands while ensuring the availability of a supply of items. in case a need arises for them by customers . Thus, following this understanding, the aim of this paper is to explore and analyze the inventory control of Faith & 'Love Furniture (F&L), a small business firm. This paper hence consists of two parts. The first investigates the current inventory control practices of F&L. The second part analyzes inventory control procedures such as product classification, •when to order (reorder. point), how much to order (order quantity and safety stock), and.the total inventory cost calculation. The analysis of suitable mathematical models for the firm is the basis for these aforementioned procedures . Then, after thorough research and analysis, the most suitable mathematical model is deducted so that a comparison can be drawn between the costs of using it and F&L's current inventory order practice. The juxtaposition will produce the most optimal cost savings and reach the main objective of 'minimizing the cost'. The effectiveness of inventory analysis can be seen after such meticulous deductions in the end.
Keywords
Inventory
Journal articles
Yangon University of Economics Research Journal
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