Inventory management is a collection of tools, techniques, and strategies for storing, tracking, delivering, and ordering inventory or stock. The cost incurred is very nominal. VED Analysis is very useful to categorize items of spare parts and components. ABC analysis is an approach for classifying inventory items based on the items’ consumption values. Efficient priority setting, de-cision making in purchase and … With the proper inventory management methods and Materials are in place, and companies enjoy the benefits of strategic cost management. Inventory management is a humungous task for all business corporations. 'E' stands for essential in other words, it can wait for some time. An inventory management system is the combination of technology (hardware and software) and processes and procedures that oversee the monitoring and maintenance of stocked products, whether those products are company assets, raw materials and supplies, or finished products ready to be sent to vendors or end consumers. The data was collected for the financial year 2006-2007. In fact, in the inventory control of spare parts and components it is advisable, for the organization to use a combination of ABC and VED Analysis. ABC analysis. Such control system would be found to be more effective and meaningful. Basically 'VED' analysis used to stock spare parts for the maintenance of Plant & Machinery. INTRODUCTION . Inventory management … ABC analysis, known as better control analysis, is an inventory management … In fact, in the inventory control of spare parts and components it is advisable, for the organization to use a combination of ABC and VED Analysis. The spares are split into three categories in order of importance. Consumption value is the total value of an item consumed over a specified time period, for example a year. Inventory management helps with adequate supply change management. 1. Approximately 35.0% of annual hospitals budget is spent on buying materials and supplies, including medi-cines [1]. Such control system would be found to be more effective and meaningful. 'V' stands for vital in other words, we have to keep stocks. Design: Inventory control techniques ABC, VED and ABC-VED matrix analysis were utilized to study the drug expenditure at the health centre. A large amount of capital, if not the majority of a company’s capital is wrapped up in their inventory. The approach is based on the Pareto principle to help manage what matters and is applied in this context: This requires effective and efficient manage-ment of the medical stores. For those into manufacturing and retailing, inventory management is a vital business function that determines their survival, profitability, and competitiveness in the market.There have been devised numerous techniques and … 'D' for desirable in other words, it can run … From the … This analysis relates to the classification of maintenance spare parts and denotes the essentiality of stocking spares. VED Analysis is very useful to categorize items of spare parts and components. ABC analysis is the analysis of the store items cost … The always, better and control (ABC) analysis… Medicine Inventory Management by ABC-VED Analysis in the Pharmacy Store of Veterinary Hospital, Yogyakarta, Indonesia: Ida Fitriana, Raden Gagak Donny Satria and Dwi Cahyo Budi Setiawan: Abstract: Background and Objective: A good inventory control will support and accelerate the availability of drug services provided. We use various types of analysis in stores inventory. 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