Inventory Control Policy with Pricing and Stock Dependent Demand: Latest Trend

Author: Ashok Kumar

Abstract:
Inventory is the physical stock of items held in any business for the purpose of future production or sales. In a production shop, the inventory may be in the form of raw materials. When the items are in production process, we have the inventory as work in-process inventory and at the end of the production cycle: the inventory is in the form of finished goods. An inventory management helps a lot in optimizing the inventory. It helps in maintaining the inventory in adequate quantity and supplying the same at desired timings. As we know that 2/3 of the capital of the organization blocks in the form of Inventory. So, ever manager of the organization try to develop different inventory policies to increase the profit of the organization. Pricing policy and stock dependent demands is the key policies through which manager increases the demand and hence makes the profit for the system. In this paper, latest work in the field of inventory control for pricing policy and stock dependent demand are presented.

Keywords:Inventory, Pricing Policy, Stock dependent demand

DOI:

International Journal of Trade & Commerce (Vol: 7 Issue:1)