Paper Title
Design and Development of Inventory System for Optimal Order Size at Multimetals Limited, Kota

Abstract
In today�s scenario manufacturing industries are faced with greatest challenge of inventory management. In which, the improper lot size ordering and inventory build-up is persistent. Control of raw material inventory is common in industries with ambiguous variable demand of products pose a serious challenge for small scale industries. As inventories can be a major commitment of monetary resources and affect virtually every aspect of daily operations. Activities which bring out the direct controlling of inventory associated cost are motivated in day to day working. Lot sizing techniques are generally concentrated to control the total cost associated with the inventory which makes them the mostly studied area for inventory management. Improper lot sizes can affect the inventory levels and the costs associated with them. This dissertation work suggests the optimum lot sizing technique for each product in metal industry to reduce the cost by comparing the seven lot sizing techniques, like Lot for Lot (LFL), Economic Order Quantity (EOQ), Periodic Order Quantity (POQ), Least Total Cost (LTC), Least Unit Cost (LUC), Part Period Balancing (PPB) and Wagner-Whitin Algorithm (WWA). A system is designed to solve the lot size ordering policy of the product by determining the optimum lot sizing technique for each product. Index Terms - Lot sizing techniques, LFL, EOQ, POQ, LTC, LUC, PPB, WWA