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REVIEW OF MODERN INVENTORY MANAGEMENT TECHNIQUES
By: Stephen ARO-GORDON & Jaideep GUPTE
The paper provides a useful summary of the major inventory management techniques based on a recent review of the literature in the field and interviews with management teachers and practitioners. Research in the field generally tends to treat the emerging approaches techniques in silos; few academic papers have attempted to undertake a holistic review of the several key emerging techniques available to today’s practitioner. Twelve pivotal inventory management techniques emerged from the present study. The essence and basic features of the identified emerging techniques for robust inventory management are explained. The evolving business environment where cost management has become a key strategy to keep ahead of keen competition is highlighted. The paper concludes that the adoption of an appropriate combination of modern inventory management approaches can help practitioners to improve corporate service delivery in terms ensuring steady flow of materials while also minimizing the attendant carrying costs. The implications for management training and the scope for future research are presented at the end of the paper.
Keywords: Customer satisfaction, Cost-effectiveness, Supply chain management, Software applications, Warehouses and stores
JEL Codes: A2, D04, F61, L23
CONFLICTS MANAGEMENT IN ORGANIZATIONS
By: Sukhjinder Kaur
As organizations strive to achieve their goals, they are often met with challenges they must overcome as a team. Challenges leave room for conflict between members, other organizations, communities and other parties involved in the organization’s mission. While “conflict” often has a negative connotation, the effects of conflict within an organization can be positive as well as negative.
Conflict is generally defined as the internal or external discord that results from differences in ideas, values, or feelings between two or more people. Because managers have interpersonal relationships with people having a variety of different values, beliefs, backgrounds, and goals, conflict is an expected outcome. Conflict is also created when there are differences in economic and professional values and when there is competition among professionals. Organizational conflicts can decrease productivity of the organization, when an organization spends much of its time dealing with conflict; members take time away from focusing on the core goals they are tasked with achieving. Conflict causes members to focus less on the project at hand and more on gossiping about conflict or venting about frustrations. As a result, organizations can lose money, donors and access to essential resources. It is a manager’s job to communicate effectively, respect employees, recognize office tension and understand the importance of everyone in the office. These managerial responsibilities will help prevent a great amount of conflict in the organization.
Key words: Organizational conflicts, Conflicts resolution, Climate, Employee, Manager.
By: Amandeep kaur
Materials management is related to planning, procuring, storing and providing the appropriate material of right quality, right quantity, at right place in right time so as to coordinate and schedule the production activity in an integrative way for an industrial undertaking. Most industries buy materials, transport them in to the plant, change the materials into parts, assemble parts in to finished products, sell and transport the product to the customer. The basic need of material management is to pay the lowest possible prices, consistent with quality and value requirement for purchasing of materials. Materials management integrates all materials functions i.e. demand estimation, procurement, receipt and inspection, storage, issue and use, maintenance and repair, disposal & accounting and information system. Indian institute of Material Management has set up CRIMM in Kolkata jointly with the Indian Institute of Social Welfare and Business Management (IISWBM).
Key Words: Procurement, CRIMM, IIMM, IISWBM.
NATIONALIZATION OF COMMERCIAL BANKS IN INDIA
By: Anamitra Roy* & Aamarpali Puri**
*B.Com. Hons. (University of Calcutta, India), Certified Financial Accountant(CMC, India),DFA (CMC, India), PGDBF (HSIS India, India), Certified Business Case Analyst (TASMAC, India), Certified Financial Accountant (GLOBSYN Skills, India), GPBL (TASMAC & University of Wales, U.K.).
**MSc Chemistry & Ph.D. from Guru Nanak Dev University, Punjab, India.
Associate Member – National Institute of Personnel Management (Kolkata, India).
In 1969, fourteen major commercial banks were nationalized in India. Foreign banks and other banks with deposits of less than Rs. 50 crores were not nationalized. Six more commercial banks were nationalized in 1980. The nationalized commercial banks were at that time controlling 91% of total deposits and total credit. Nationalization of commercial banks in India is looked as a significant effort of the Government of India to strengthen the economy.
Key Words: Nationalization commercial banks, social development, small business.
WOMEN IN SERVICE SECTOR: PROBLEMS AND PROSPECTS
By: Ritu Dhawan
Assistant Professor, Department of Commerce and Management, Khalsa College for Women, Amritsar. Punjab 143001
India is a multicultural, multiracial and multireligious entity where at once the ancient and the new, the traditional and the modern, the agrarian and the technological, the rural and the urban coexist. It provides an interesting scenario to study the social evolution of man, especially the emergence of woman as a determining factor in shaping the modern vibrant India that calls for attention. The present paper is an attempt to study the status of women and the problems they face on their job. An effort has been made to bring out the future prospects for working women. The study is completely based on secondary data and has implications for banking, financial institutions, insurance companies and educational institutions. It is expected that the effort will help to remove ill-founded notions about the sex-role stereotypes prevalent in Indian Society.
Key Words: Women in service sector, women managers, independent women.