2. Introduction
Inventory” is a list for goods and materials, held available in
stock by a business.
“Management of the inventories” is with the primary objective
of determining, controlling stock levels within the physical
distribution function to balance the need for product availability
against the need for minimizing stock holding and costs.
3. Objective of the study:
To find out the composition of inventory.
To study of the various inventories ratio.
To analysis of inventory management techniques used in the
company.
To study an analysis the inventory management system and
control practices Spark Fabricators.
The objectives of the report are concerned with an ideal inventory
management.
Scope of study:
To prepare a project report I have taken the help of Spark
Fabricators, as a base.
I had taken the help of 2 year balance sheet (2016 to 2018)
I had also taken some other financial statement for the analysis
related to the inventory management
Analysis of inventory management includes the study of the
composition of inventory, inventory ratio and different techniques.
4. Company Profile
SPARK FABRICATORS was started in 2013. Mr. Mayur
Chaudhari the proprietor of the company started this
Industry.
The aim of the company is to manufacture one of the best
productions of decorative and industrial fabrication in
India.
The industry is engaged in manufacturing of high quality
engineering job work
5. Research Methodology
Methods of Data Collection: The data is collected from
the respected persons of the company. The communication
was informal in nature.
Secondary Data: The data was analyzed from the balance
sheet, various tables, graphs, chart, referred some of the
reports and other companies report.
6. Research Approach And Tools Of Analysis
For the analysis of the report and the study of the
objectives I have used many tools for analyses
Total inventory turnover ratio.
Raw material turnover ratio.
Work in process turnover ratio.
Finished goods turnover ratio.
11. Techniques Of The Inventory Management
Classification of inventory
Always Better Control (ABC)
Economic Order Quantity (EOQ)
Fast moving, Slow moving, and Non moving (FSN).
Determination of inventory levels
Minimum stock level.
Maximum stock level.
Re-order level
12. Finding
The analyses of the inventory management the main
finding of the company are below
Inventory is not handled properly economic order quantity
& ABC Analyses are not followed scientifically.
All the raw materials required in stored in one single room.
The company has very much limited trade.
More improvement in inventory management is needed.
13. Suggestions
During the study period it has been observed that there are some
improvement required which would help to overcome their
limitation. These are suggested below,
Proper platform should be constructed for storage of raw material.
Develop the market: - The industry should explore its market this can
be by increase the sale & also applying marketing strategies
confined to only Maharashtra state is should widen trade.
Technical Advisement:- It has found that machines used are not
properly maintained us of new advance machine can help to
eradicate the quality properly.
Development of workers:- The worker & employees are providing
with only bonus. They should also facilitate with other recreation
facilities such as insurance.
14. Conclusion
A Spark Fabricators industry is one of the successive
& manufacturing company of high quality engineering
job work.
The company is outstanding at its management level
but still improvement at various other financial
appraisal of the company is satisfactory & sound.
They are planning for the maintenance of quality &
believe that there will be an increase of 25 % from
today demand there will be an inverse of 20 to 25 %
from today demand the company is better & trying to
be best by increasing their production & sales
15. Learning’s from SIP
During the SIP at Spark Fabricators , I had plenty of
discussions & debates with my Manager, but this only
helped ensure that my Konowledge adds value to the
organization
