This comprehensive textbook covers the fundamentals of inventory planning and control, essential for effective supply chain management. It starts with an introduction to inventory management principles and the importance of maintaining optimal inventory levels. The book then delves into demand forecasting techniques, including time series analysis, causal models, and qualitative methods, enabling students to accurately predict future demand.

Furthermore, the book explores various inventory control models, such as the Economic Order Quantity (EOQ) model, Periodic Review System, and Just-in-Time (JIT) systems. It provides a thorough understanding of these models, their assumptions, and their applications in different scenarios.

The book also emphasizes the role of inventory in supply chain management, discussing the importance of coordination and collaboration among supply chain partners. It covers topics such as vendor-managed inventory, consignment inventory, and third-party logistics.

Throughout the book, real-world case studies and examples are provided to illustrate the practical applications of inventory planning and control concepts. These examples help students understand the challenges and complexities involved in managing inventory in various industries.

Benefits:

• Comprehensive Understanding: Gain a thorough understanding of inventory management principles and techniques.
• Applied Learning: Learn through practical examples and case studies, enhancing knowledge application.
• Exam Preparation: Covers important topics and concepts relevant to IGNOU's PGCINDS program exams.
• Career Readiness: Equips students with essential skills for managing inventory and supply chain operations in various industries.