18-08-2012, 12:07 PM
AN ANALYSIS ON INVENTORY MANAGEMENT AT
WHIRLPOOL OF INDIA LIMITED
INVENTORYMANAGEMENT.pdf (Size: 382.12 KB / Downloads: 42)
INTRODUCTION
Inventory control is vitally important to almost every type of business, whether product or
service oriented. Inventory control touches almost every facets if operations. A proper balance
must be struck to maintain proper inventory with the minimum financial impact on the customer.
Inventory control is the activities that maintain stock keeping items at desired levels. In
manufacturing since the focus is on physical product, inventory control focus on material control.
“Inventory” means physical stock of goods, which is kept in hands for smooth and
efficient running of future affairs of an organization at the minimum cost of funds blocked in
inventories. The fundamental reason for carrying inventory is that it is physically impossible and
economically impractical for each stock item to arrive exactly where it is needed, exactly when it
is needed.
Inventory management is the integrated functioning of an organization dealing with
supply of materials and allied activities in order to achieve the maximum co-ordination and
optimum expenditure on materials. Inventory control is the most important function of
inventory management and it forms the nerve center in any inventory management organization.
An Inventory Management System is an essential element in an organization. It is comprised of a
series of processes, which provide an assessment of the organization’s inventory.
WHIRLPOOL CORPORATION
Whirlpool Corporation is the world’s leading manufacturer and marketer of major
home appliances. The company manufactures in 13 countries on 4 continents namely :-- Canada,
United States, Mexico, Argentina, Brazil, Slovakia, Germany, Sweden, France, Italy, South
Africa, China and India and markets products in more than 170 countries under major Brands (26
including Affiliates) names such as Whirlpool, Kitchen Aid, Roper, Estate, Bauknects, Ignis,
Laden, Inglis, Braotemp, Crolls, Acros and Consul. Whirlpool is also the principal supplier to
Searo, Roebuck and company of many major home appliances marketed under the Kenmore
brand names. Head quartered at Benton Harbour, Michigan, U.S.A, Whirlpool Corporation is the
world’s leading manufacturer and marketer of major home appliances. Washing Machines,
Dryer, Dish-washers, Refrigerators, Freezers, Cookers, Micro-wave Ovens, Room airconditioners,
Small Kitchen Appliances, etc.,
BUILDING CUSTOMER LOYALTY WORLDWIDE
Whirlpool Corporation arrived in the new century and millennium as the world’s leading
manufacturer and marketer of major home appliances. Today, Whirlpool’s global platform
provides our operations with resources and capabilities no other manufacturer can match and with
brands that consumers trust.
To sustain the productivity savings that is being achieved by our operations, they have
embedded their Operational Excellence Process - based on Six-Sigma and lean manufacturing
skills and capabilities - within each of their worldwide manufacturing facilities. The company’s
global information technology organization provides Internet tools that cut the complexity and
costs of doing business for Whirlpool and its trade partners. Whirlpool’s unique global platform
allows the company to transfer key innovations and processes across regions and brands. Based
on the continuing success of the company’s global innovation process, which began in 1999,
Whirlpool has introduced unique product innovations to consumers worldwide.