Inventory Planning And Control On Products Availability

INTRODUCTIONIt is a fact in materials management that continuity in production or provision of services on constant flow of required inventory. However, the question confronting the materials management remain, how much shall be ordered when the quality available is less than required to meet production demand or the quantity is less than order point and how best to plan and control the quantity of inventory needed at a given time.The focus of the materials manager is to reduce the two extreme ends of the spectrum, that is excessive (surplus) stock and adequate stock (stockout). The level of s…