Published Online: June 09, 2021
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Raw materials, work-in-process items, and completely finished products are all examples of inventories, which are described as the portion of the company's property that is ready for sale or will be ready for sale. One of an industry's biggest challenges is designing effective inventory model management techniques for entrepreneurs. While the first scientific inventory management research dates from the second decade of the twentieth century, this scientific area continues to pique people's interest. The use of various inventory management methods in the well-known steel industry in eastern India is the topic of this paper. This paper discusses possible criteria for entrepreneurs with existing inventory management models. An up-to-date review of existing literature based on descriptions of the developed features and styles of inventory management models is being made to include an effort.
Keywords
Inventory management; Entrepreneurs; Operational performance; Steel industry.