EFFECTIVENESS OF INVENTORY MANAGEMENT APPLICATIONS IN SUPPLY CHAIN MANAGEMENT AT FOOD AND DIARY COMPANY IN HYDERABAD (KEY IJP************234)

• G. Sai Priya,Dr. S. Narender

Abstract

ABSTRACT Inventory management is a critical component of supply chain management, directly impacting a company's efficiency, profitability, and customer satisfaction. This study explores various inventory management techniques and their effectiveness in different industry contexts. By examining traditional methods, such as Economic Order Quantity (EOQ) and Just-In-Time (JIT), alongside modern approaches incorporating technology and data analytics, the research provides a comprehensive overview of best practices in inventory management. Through a combination of literature review, case studies, and quantitative analysis, the study identifies key factors influencing inventory performance, including demand forecasting, inventory turnover, and stock replenishment strategies. The findings suggest that integrating advanced technologies like artificial intelligence and machine learning can significantly enhance inventory accuracy and responsiveness. Recommendations are offered to help businesses optimize their inventory systems, reduce costs, and improve service levels, ultimately contributing to a more resilient and agile supply chain.Keywords: Inventory management, Customer Satisfaction, Supply Chain Management.