Professional Documents
Culture Documents
MANAGEMENT
Group Members:
Priyanka
Kalwar
14202145
Ankit Agrawal
14202151
Chandrakant
Kumar
14202161
Shrabani
Choudhary
14202177
Bhagyashree
Mohanty
14202181
1)
2)
3)
4)
5)
Refine oil
Sugar
Potato
Onion
Coconut
REFINE OIL
BASIS
PROCURED FROM
BARGARH
EOQ
TRANSPORTATION COST
RS 3000
RS 1 per TIN
RS 950
AVG TURNOVER
40 TINS
STOCK TURNOVER
WITHIN 3 TO 4 DAYS
1 DAY
RE-ORDER POINT
40 TINS
ORDERING COST
RS 2 (TELEPHONE CHARGES)
RS 5 per TIN
PROFIT
SUGAR
BASIS
PROCURED FROM
BALANGIR, RAIPUR
EOQ
16 TONNE, (320*50)
TRANSPORTATION COST
RS 1 per 50 KG PKT.
RS 1390
50 PKTS
STOCK TURNOVER
WITHIN 6 TO 7 DAYS
RS 3 per PKT
RE-ORDER POINT
100 PKTS.
ORDERING COST
RS 2 (TELEPHONE CHARGES)
RS 2 per PKT
PROFIT
POTATO
BASIS
PROCURED FROM
WESTBENGAL(MEDINIPUR,
BALANGIR,SAMBALPUR)
EOQ
TRANSPORTATION COST
RS 1 per 50 KG PKT.
60 PKTS
STOCK TURNOVER
RS 3 per PKT
RE-ORDER POINT
ORDERING COST
RS 2 (TELEPHONE CHARGES)
RS 2 per PKT
PROFIT
ONION
BASIS
PROCURED FROM
BALANGIR,PATNAGARH
EOQ
TRANSPORTATION COST
RS 1800
RS 1per PKT
AVG TURNOVER
10 PKTS
STOCK TURNOVER
WITHIN 4 TO 5 DAYS
1 DAY
RS 3 per PKT
RE-ORDER POINT
20 PKTS
ORDERING COST
RS 2 (TELEPHONE CHARGES)
RS 3 per PKT
PROFIT
590-(530+36+1+3+3)= RS 17
COCONUT
BASIS
PROCURED FROM
BALANGIR, PATNAGARH
EOQ
TRANSPORTATION COST
RS 3500
RS 1 per PKT
AVG TURNOVER
20 PKTS
STOCK TURNOVER
WITHIN 4 TO 5 DAYS
1 DAY
RS 3 per PKT
RE-ORDER POINT
30 PKTS
ORDERING COST
RS 2 (TELEPHONE CHARGES)
RS 3 per PKT
PROFIT
775-(720+35+1+3+3) =13
DEMAND FORECASTING
For forecasting the demand, the previous sales are taken into account. In
addition to it, special occasions like festivals, sudden price rise or fall,
expected shortage of the product in the market are few other cases where
the sales may fluctuate from the natural sales level. Overall the trend
analysis method is followed to forecast the demand.
CONCLUSION
The project was a practical experience for all of us. We got to understand
how the forecasting of demand is done at the ground level. We got a first
hand experience on how the inventory is managed and the operations of
the business are handled. We got to apply our theoretical concepts
pertaining to inventory management which helped us to gain a better
understanding of the topic.
We got to know that every firm follows the inventory management
principle. Its just that they do it with practical experience. Overall it was a
wonderful learning experience.