Emerging Opportunities In Planning & Review Of Inventory Control in Hotel Industries
In every company or organization, all functions are connected, linked and often superfluous. Some important aspects such as supply chain management, logistics and inventory are the backbone of business delivery possibilities. That is why these functions are very important for financial managers and marketing managers. Inventory management not only affects the financial health of the balance sheet, it is also a very important function in determining the health of the supply chain. Each organization constantly strives to maintain an optimal inventory to meet the requirements and to prevent surplus or inappropriate stock that could affect financial data. Stock is always dynamic. Inventory management requires continuous, careful assessment of external and internal factors through planning and assessment. Most organizations have separate departments or functions called inventory planners who constantly monitor, control and evaluate the inventory and link it to production, purchasing and finance departments. In this research report we have studied various techniques for inventory management in the hotel industry.