PROMINENCE OF MATERIAL MANAGEMENT IN CASTING INDUSTRY

This review article presents the information regarding prominence of inventory management and different inventory management techniques followed by the casting industry. Casting industry is one among the major industries in India it is also having a huge turnover, moreover majority of companies in this industry are small in size but the contribution for GDP is more. inventory management is a vital part in this industry because it is manufacturing industry, if in case any shortage of a material they should stop the production and it leads to different types of losses like production cost will go high, can't meet the demand of the market and further losing potential customers therefore it effects the profit of the firm. Thefirm's operating efficiency completely depends on the inventory management techniques every firm has a different trouble during production time, based on that they can take it suitable techniques from the available models, that's why it is been playing a prominent role in the profit of a company.