Hubli Education Trust͛s HUBLI EDUCATION TRUST¶S INSTITUTE OF MANAGEMENT STUDIES HUBLI Project report On ³Study on inventory and material management´ SUBMITED TO SUBMITED BY ROHIT.C.KALASKAR SURESH BABU.P DIRECTOR ± ACADEMIC REG NO MBA/08/62 Institute Of Management Studies, Hubli Hubli Education Trust͛s HUBLI EDUCATION TRUST¶S INSTITUE OF MANAGEMENT STUDIES HUBLI (APPROVED BY AABMA, NEW DELHI AFFILIATED TO IIBM UNIVERSITY, PUNE) CERTIFICATE This is to certify that Suresh Babu .P student of Master of Business Administration has prepared the project title a survey to ³Study on inventory and material management´ has been prepared under the support and guidance of Mr.Rohit.C. Kalaskar This project was given to me by Mr.Rohit.C.Kalaskar to make me aware of the steps of how to prepare on V Tri-semester project. Mr. Rohit. C. Kalaskar Director academics (Suresh Babu P) Institute Of Management Studies, Hubli Hubli Education Trust͛s DECLARATION I hereby declare that this project that report entitled a survey to ͞Study on inventory and material management͟ The project work has been prepared by me under the guidance of Mr. Rohit C. Kalaskar director. Place: Hubli Date: (Suresh Babu P) Institute Of Management Studies, Hubli Hubli Education Trust͛s ACKNOWLEDGEMENT It is my great privilege to express my sincere thanks to Institute of Management Studies Hubli for providing us with all facilities to do this project. The same is happening with me when I am desperately searching for words to thank the almighty god for making me an instrument to write and prepare this project. I am thankful to Mr.Rohit.C Kalaskar for providing me support and encourage making and presenting this project. Finally thanks to Mr.Rohit.C Kalaskar Sir without his moral support this could not have been a great success for me. Institute Of Management Studies, Hubli Hubli Education Trust͛s ABSTRACT The survey to ³Study on inventory and material management´ is prepared under the guidelines of Mr.Rohit C Kalaskar (Director and Faculty). This project report provides a gathering of knowledge about demand of different in Hubli city, as well as it also provides detail knowledge about the consumer preference towards different logistic companies. The land which opens up wide selection of opportunities for the logistics service providers across the world is India. The high demand for the logistics services is due to the significant growth of economy. A few years back the value of the India logistics market is $14 billion and will grow at a rate of 7-8 per cent. The logistics companies in India cater to millions of retailers and meet the requirements of about a billion people. The list below gives the name of the best logistics companies in India. Our analysis is based on sample results. It is a difficult task to gather the information from respondents by meeting them personally in order to get questionnaire filled. There is a lot of time pressure and sometimes unwillingness of respondents to respond. Mr.Rohit C Kalaskar (DIRECTOR) Institute Of Management Studies, Hubli Hubli Education Trust͛s INDEX CHAPTER.1 y Introduction y Definition of inventory y Definition of material y Design of the study y Statement of the study y Objectives of the study y Methodology (a) Size of the sample (b) Sampling design (c) Sample technique y Data collection y Hypothesis (Formula) y Geographical area of study y Data analysis y Limitation CHAPTER.2 y An over view of the study CHAPTER.3 y Opinion of the study CHAPTER.4 y Survey of findings suggestion and conclusion Institute Of Management Studies, Hubli Hubli Education Trust͛s Executive summery The survey all about the understand inventory and material management. Logistic; The Information Technology industry is, possibly, typical of the changing and escalating logistic demands of various industries today, irrespective of their category as 'old' or 'new' economy. In the IT industry, the difference between success and failure is closely linked to the supply/value chain integration, of which there are two distinct processes. The delivery of goods to the customer in the most reliable transit period (and preferably the shortest) possible 'Reliable' alludes to a certain guaranteed transit time for packages to reach customers or the response that organisations need in the event of any exceptions. The reverse flow of acknowledged, signed delivery records without which, in many cases, recovery of bills are virtually impossible. Especially so in the case of companies placing multi- location orders that could cover hundreds of cities The most important objective or inventory control is to determine and maintain an optimum level of investment in the inventory, Most companies have now successfully installed one or the other system of inventory planning and control are used to develop inventory planning policies; Studying inventory management can give way important improvements in both inventory cost and customer service levels. In the context of a real case, this article illustrates the process of assessing the opportunities and the benefits that can grow. These can give way near-term improvements in both inventory investment and service level through implementing the right inventory levels, without requiring significant changes to the supply chain. An effective materials management plan builds from and enhances an institutional master plan by filling in the gaps and producing an environmentally responsible and efficient outcome. An institutional campus, office, or housing complex can expect a myriad of benefits from an effective materials management plan. For starters, there are long-term cost savings, as consolidating, reconfiguring, and better managing a campus¶ core infrastructure reduces annual operating costs. Institute Of Management Studies, Hubli Hubli Education Trust͛s CHAPTER.1 Institute Of Management Studies, Hubli Hubli Education Trust͛s INTRODUCTION Definition of inventory Inventory can be defined as the quantity of material overweight spare parts and semi processed material, which is stocked for the continuous running of the plants. Inventory can also be defined as the ideal resources of any kind, which have economic value. Definition of material Material management is a total concept involving an organizational structure join into a single responsibility the systematic flow and control of material from identification of the need through customer delivery, Consistent with the appropriate customer service level. Originally this technique is adopted by customers who wanted to loose inventory from their balance sheet, whilst still having it available, giving rise to bonded warehouses where the stock was available but still belonged to the supplier until issued for use in the shop. However suppliers then recognised that this gave them more opportunity for increasing value added services by maintaining this stock for the customer. It also locked in the customer to a long term arrangement. It is now widely recognised that the benefit is largely in the supplier's hands rather than with the customer. Also care must be taken to ensure that the financial transfer of ownership from supplier to customer is auditable, and that liability of risk of obsolescence in the event of change is agreed. In a lean organisation and to the inventory planner, the arguments are irrelevant, the stock is still there and it should be minimized to improve the whole supply chain. Again, in the year 2000, I wrote that warehousing is an increasing trend. At that time it applied to Distribution Centers (DC's) to consolidate supplies for just in time customers for onwards delivery to point-of-use destinations, primarily in the major automotive assemblers. This improves the logistics congestion which can arise in feeding hundreds of different items per day to an assembly line. However, now, out-sourcing is applied to many pre-assembly stores, most distribution networks and is also being applied to raw materials. Institute Of Management Studies, Hubli Hubli Education Trust͛s Design of the study The design of the study determines the steps to be followed to conduct the study and the important topics, which are to be covered in the study. This research is carried out as per the steps of market research process. To meet the objectives primary research is undertaken. A detailed design of the study is considered to be necessary in order to compare the actual theory with that observed in picture. The basic study on attempt has been made to separate the various respondents on basis of their age, income, education, profession and external factors. Institute Of Management Studies, Hubli Hubli Education Trust͛s Statement of the problem A survey study towards inventory and material management in Hubli City Objectives To analyze the inventory management system of the current system & generating an idea to touch higher level of competency in controlling the inventory. To analyze the current enterprise resource planning system in managing the inventory. To analyze the industrial sufficiency in managing the inventory. To get a practical industrial exposure. Institute Of Management Studies, Hubli Hubli Education Trust͛s Research methodology SAMPLE DESIGN SAMPLE UNIT: - All working people are included both the genders i.e. males and females irrespective of their education level. SAMPLE SIZE: - 20 SAMPLE REGION: - Hubli city SAMPLING PROCEDURE: - Random Sampling Institute Of Management Studies, Hubli Hubli Education Trust͛s Data collection method PRIMARY DATA Primary data is collected through