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RETURNING TO ROOTS FOR REDUCING INVENTORY COSTS IN SMEs: A CASE OF INDIAN LOCK INDUSTRY

Author

Listed:
  • PARVEEN FAROOQUIE

    (Department of Mechanical Engineering, Aligarh Muslim University, Aligarh-202002, India)

  • M. NASIR KHAN

    (Department of Mechanical Engineering, Aligarh Muslim University, Aligarh-202002, India)

Abstract

Achieving uninterrupted production, increasing profitability and productivity, protection against stock-outs, and improving customer service levels have been the major benefits of holding inventory. Maintaining inventory levels beyond a certain limit is, however, an undesirable phenomenon. While practitioners and researchers are aiming at minimum possible cost of inventory, many small business owners in India still fail to appreciate fully the true costs of carrying inventory. In this context the present study examines a case of the lock manufacturing industry in the Aligarh district of the state Uttar Pradesh. The investigations reveal that lock manufacturing units, by-and-large, are either unaware of even the fundamental techniques of inventory management or do not practice them for one reason or the other. The case attempts to illustrate how SMEs can reduce their inventory costs, and hence improve profitability, through the application of basic models of inventory management.

Suggested Citation

  • Parveen Farooquie & M. Nasir Khan, 2010. "RETURNING TO ROOTS FOR REDUCING INVENTORY COSTS IN SMEs: A CASE OF INDIAN LOCK INDUSTRY," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 18(03), pages 315-330.
    • Handle: RePEc:wsi:jecxxx:v:18:y:2010:i:03:n:s0218495810000562
    DOI: 10.1142/S0218495810000562
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    Cited by:

    1. Fashaya Johnson & Thanasak Ruankaew, 2017. "A Study of Inventory Control Systems by Jamaican SMEs in Retail and Manufacturing/Distribution Industries," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(8), pages 1-1, July.

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