A STUDY ON INVENTORY CONTROL MEASURES IN INVENTORY MANAGEMENT With reference to EDUSYS SERVICES Pvt. Ltd.

PROJECT REPORT SYNOPSIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS OF BBM COURSEOF BANGALORE UNIVERSITY BY UTKARSH SRIVASTAVA 10BMC18063 UNDER THE GUIDANCE OF Mr. Sandeep K Rao FACULTY

P.E.S COLLEGE OF BUSINESS MANAGEMENT 100FT RING ROAD, BSK 3RD STAGE BANGALORE 560085 Tel.080-26721983,26722108. www.pes.edu JAN-APRIL 2013

Project Title : Inventory Control Measures in Inventory Management Company Name :Edusys Services Pvt. Ltd. Profile of the company:
EDUsys Services is a leading Education Training Provider in the Servicesmarket. With offices in the USA, Australia, Germany, London, Hong Kong and India, EDUsys is a premier training organization trusted by professionals worldwide. Knowledge enrichment, skill sharpening, and being up to speed are the hallmarks that the industry looks for these days. EDUsys Services plays a key role in fulfilling these objectives.

Introduction:
The term inventory means the value or amount of materials or resource on hand. It includes raw material, work-in-process, finished goods & stores & spares. The Main Items of Inventory for Edusys are: Study Material used in Delivery of their Classroom courses and Marketing Collateral Materials like Gifts. We shall restrict the Scope of our Project to these Items specifically. Inventory Control is the process by which inventory is measured and regulated according to predetermined norms such as economic lot size for order or production, safety stock, minimum level, maximum level, order level etc. Inventory control pertains primarily to the administration of established policies, systems & procedures in order to reduce the inventory cost.

Main objective of study1. To learn methods used in inventory management. 2. To know the various costs involved in inventory management. 3. To understand how unforeseen future demand due to variation in forecast figures and actual figures is met. 4. To understand how to meet the customer requirement timely, effectively, efficiently, smoothly and satisfactorily. 5. To reduce loss due to changes in cost of inventory items.

Challenges Faced in Inventory Control:

1. Receiving stock at the right time. 2. Estimation of shipment to reach the destination at right time. 3. Cost Reduction for Operations & Printing.

(UPS is a logistics company with whom Edusys ships its goods abroad) (Expedited- It is a service provided by UPS where the goods will be delivered within 7 days max across the globe.) (Express saver-It is a service provided by UPS where the goods will be delivered within 4 days across the globe.) (Express- It is a service provided by UPS where the goods will be delivered within 3 days across the globe.)

Sources of Data:
The methodology in the study of inventory management includes the collection of primary and secondary data through the different methods of each. Data will be collected from existing records of the company. Both present and past records were used. This includes: o Shipping Invoices o Printing Quotes and Invoices Secondary data is the information that already exists somewhere, which has collected to serve another purpose. In this study, secondary data has been collected from the following sources: 1. Company Records and Reports. 2. Newspapers/Magazines. 3. Various Websites

Scope:
1. This study on inventory management of a particular department at Edusys will give us an insight into the methods of inventory management, and inventory management affects the pricing of the goods. We shall restrict the Scope of our Project to Study Materials and Gift Items specifically. 2. This study is to find the facts and opinions of inventory management and control at Edusys. 3. In accordance with present trends it aims mainly at finding out the inventory control procedures at Edusys.