Description
ASSIGNMENT
Course Code :MMPL-002
Course Title :Inventory and Stores Management
Assignment Code : MMPL-002/TMA/JUL/2025
1.Define inventory and explain its types, functions, and significance in supply chain operations. Discuss how effective inventory control contributes to cost efficiency, customer satisfaction, and operational continuity.
2.What is the Economic Order Quantity (EOQ)? Derive the EOQ formula with assumptions and explain how it helps in minimizing the total inventory cost. Illustrate with a numerical example.
3.Describe the concepts of Material Requirements Planning (MRP-I) and Manufacturing Resource Planning (MRP-II). How do these systems enhance inventory accuracy and production alignment? Highlight key differences between the two.
4.Discuss the essential functions of stores management including receipt, inspection, storage, issue, and record-keeping. Explain how systematic stores operations ensure transparency, loss prevention, and audit readiness.
5. Write short notes on any two of the following: a. ABC and VED Analysis b. Buffer Stock vs. Reorder Level c. Warehousing Safety and Security Measures d. Legal Framework Governing Warehousing Operations
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