EVALUATION AND SELECTION OF INVENTORY POLICIES BY MCDM-MATRIX METHOD-A CASE STUDY FOR PASSENGER VEHICLES FOR AUTOMOTIVE INDUSTRY IN INDIA

The inventory employs huge amount of annual revenue of any organization. The evaluation and selection of inventory policies one of the vital activities of business processes. As purchasing is quite critical for the manufacturer, seeking the right policy is absolutely significant for the company. Thus the inventory policy selection process has received considerable attention in the business management literature due to the key role of inventory policy performance on cost, quality and service in achieving the objectives. The selection of one of the best alternative from a set of potential alternatives depends upon the selection criteria. We have proposed a framework for selection of inventory policy using Matrix method based on selection criteria for Passenger vehicle manufacture automotive industry.