(+91) 8283802090Inventory management with Micro Labs
Project Cost:Rs 2500 (Project Report) Rs. 3000 (Synopsis + Project)
Can Be used in: Operation Management Projects
Project Report Pages: 60-70 Pages (Soft copy word Format)
Delivery time: Within 12 hours for readymade project and 3 days for new project
Short Description: Please refer to the Sample Project. Each project has unique content based on its topic. This sample PDF is for an operation management project.
Description:
Introduction
Inventory is the biggest asset of a business and is essential for its daily work. Inventory management with Micro Labs helps the company keep the right amount of stock to meet customer needs on time. Proper inventory protects the business from supply delays and unexpected demand. Too little stock can delay orders, while too much stock can block money, increase storage costs, and cause damage or expiry losses. Good inventory management balances production, marketing, and finance activities. By maintaining optimal inventory levels, Micro Labs can reduce costs, avoid wastage, improve service quality, and support steady profits and smooth business operations.Objectives
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Ensure continuous availability of raw materials so that production runs smoothly.
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Reduce wastage by controlling loss, theft, damage, and spoilage of materials.
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Improve production efficiency by supplying the right materials at the right time.
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Maintain optimal stock levels to reduce risks and avoid stock shortages or excess.
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Provide better customer service by keeping enough finished goods to meet demand.
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Fix clear responsibility at each level for effective inventory control.
Research Design
Research design is a clear plan used to collect and analyze data. This study uses descriptive research, which helps present a true picture of the induction process followed in the organization. Descriptive research mainly uses surveys and discussions. The study is ex post facto in nature, meaning the researcher does not control the variables. Statistical methods are used to ensure accuracy and objectivity. Simple tools like averages and percentages help in easy analysis.
The data is collected using two methods:
1. Primary Data
The researcher collects primary data directly from people for the first time. This data comes from individuals who use the product or service and best supports the study objectives.
2. Secondary Data
The researcher collects secondary data from existing sources such as books, reports, records, and published or unpublished documents.
