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Inventory control modeling, One of the most challenging aspects of running a business is learning how to effectively manage the inventory so as customers need and want without having much excess. Whether it's deciding what and how much to order, when to order, keeping an accurate count the products, and knowing how to handle excess and shortages, knowing how to control inventory properly will help ensure your business's success. Demand for the product results from changes in market and financial forces and the amount and type of inventory control varies in tune with this. inventory control is a dynamic activity, and the successful inventory manager has to ensure that the balance is kept right. This requires both communications skills and professional inventory techniques. Operating methods should be continuously revised to reflect the changes and systems should be altered to suit new situations and operating policies.
About the author
Sudhir Sahu is a Lecturer in the Department of Statistics, Sambalpur University, Orissa, India. He did his M.Stat, M.Tech in Computer Science and Ph.D in OR from Utkal University, Orissa. He has guided 12 Ph.D Scholars in the areas of Computer Science, Inventory Control and Data Mining.He has published sixty research papers in different journals.
