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In today’s competitive industrial landscape, the ability to manage inventory efficiently is a cornerstone of profitability and operational success. Dr. S.B. Saraswat, a seasoned industry expert and former Senior Executive at Steel Authority of India Ltd. (SAIL), explores this critical area in his book Strategies to Increase Profit through Inventory Management. Published by Excel India Publishers, this book offers deep insights into the complexities of inventory management, particularly in the steel industry.
The book addresses the monumental challenge of handling inventory in a large steel plant, where lakhs of items are involved—from raw materials to finished goods. Dr. Saraswat provides a detailed roadmap for optimizing inventory levels, ensuring smooth operations without overstocking or shortages, which can severely impact financial performance. He draws on years of hands-on experience to cover every aspect of inventory management, from classification and analysis to cost monitoring and the implementation of reverse and forward auctions.
One of the key themes is the harmful impact of non-moving inventory, a topic that Dr. Saraswat emphasizes through real-world examples and comprehensive strategies. He advocates for clear, actionable policies on inventory management to enhance operational efficiency and profitability. His discussion on reverse auctions (RA) and forward auctions (FA) provides a modern take on how technology can help industries dispose of non-moving inventory while securing better prices and maintaining transparency.
Dr. Saraswat`s book is particularly timely, given the current focus on cost management in industries dealing with fluctuating demand and supply chain disruptions. It serves as a vital guide for supply chain professionals, management teams, and policymakers alike, offering them the tools to not only maintain optimal inventory levels but to contribute directly to profit growth through strategic planning.
The book was officially released on 13th October 2024 at 11 AM at the Club House, Commonwealth Games Village, New Delhi. Excel India Publishers is proud to present this comprehensive guide to inventory management, which is sure to become an essential resource for industrial professionals.
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