VRS Inventory Software is inventory software that designed specially to meet the requirements of small and medium sized enterprises (SME), such as computer stores, departmental store, general store, bookstore, boutique, shoe store, antique store, grocery store, retail stores, online shopping malls or home business etc. Web- http://vrssoftwares.com/RetailSoftware Contact us- +91-8286779827 Follow us on Facebook:- https://www.facebook.com/vrssoftware Twitter:- https://twitter.com/VRSSoftwares Google+ :- https://plus.google.com/100295710390864574648/ Linkedin:- https://www.linkedin.com/company/vrs-software

1. Welcome To VRS Inventory Control &
Management Software
Web- www.vrssoftwares.com

2. INTRODUCTION
 Inventory-A physical resource that a firm holds in stock
with the intent of selling it or transforming it into a more
valuable state.
 Inventory System- A set of policies and controls that
monitors levels of inventory and determines what levels
should be maintained, when stock should be replenished,
and how large orders should be placed.

3. Items carried in inventory can be
 Raw materials
 Purchased parts
 Components
 Subassemblies
 Work-in-process
 Finished goods

4. Reasons for keeping Inventories
 To stabilise production
 To take advantage of price discounts
 To meet the demand during the
replenishment period
 To prevent loss of orders(sales)
 To keep pace with changing market
conditions

5. Objectives and Benefits
Inventory control aims at keeping track of
inventories. In other words, inventories of
good quality and right quantities should be
made available to different departments as
and when they needed.

6. COSTS ASSOCIATED WITH INVENTORY
 Purchase (or Production) cost
 Capital cost
 Ordering cost
 Inventory carrying costs (holding
costs)
 Shortage cost

7. Inventory Planning and Control
For maintaining the right balance between high
and low inventory to minimize cost

8. Inventory Control Decisions
Decisions:
 How much to order?
 When to order?

9. TYPES OF INVENTORY MODELS
Simple EOQ model
EOQ model with stock outs
allowed
Inventory model under risk

10. SELECTIVE CONTROL OF INVENTORY
 Selective control refers to the variation in method of
control from item to item on some selective basis.
Many criteria used for this purpose are
 Based on the cost of product
 Lead time
 Usage rate
 Procurement difficulties, criticality, frequency of
usage

11. SELECTIVE CONTROL OF INVENTORY
 ABC analysis
 VED Analysis
 Material requirements planning (MRP)

12. CONCLUSIONS
 Careful classification of your inventory, and
continuing analysis of those classifications, can play
a vital role in maintaining cost at the efficient levels
you have established as your goals
 Inventory control is a constant requirement of doing
business successfully.

13. Get in Touch With us
 VRS SOFTWARE
Web- www.vrssoftwares.com
 Address- 317 Navkirti Premises,
Opp Railway Station, Bhayander(E),
Thane-401105.

14. Follow us on
 Facebook:- https://www.facebook.com/vrssoftware
 Twitter:- https://twitter.com/VRSSoftwares
 Google+ :-
https://plus.google.com/100295710390864574648/
 Linkedin:-
https://www.linkedin.com/company/vrs-software

15. Thank you