Minimizing Inventory Waste in Industrial Operations through Practical Optimization Techniques.

Inventory management plays a critical role in industrial operations. Improper inventory control leads to excess stock, slow-moving materials, and increased operational costs. This paper focuses on minimizing inventory waste. in a workshop using practical optimization techniques. Data was collected for three months through physical observation of inventory materials such as gears, conveyor belts, cutting tools, spare tools, aluminium profiles, sheets, and taps. Basic inventory management formulas such as Economic Order Quantity (EOQ), Reorder Level, Inventory Turnover Ratio, and Waste Percentage were applied. The analysis helped in identifying excess and slow-moving inventory. After implementing optimization strategies, inventory waste was reduced by approximately 6-7%, improving efficiency and storage utilization.