Generally in the industries, the inventory may be high, in relation to the production and turn over, thus keeping the capital locked up. The reduction of inventory will increase profitability. Therefore, inventory management needs to be looked into properly, using scientific and coordinated control. This book is the result of the discussions of the two authors with senior executives. It consists of two parts. Part one contains seventeen Chapters, covering various aspects of inventory management, including its importance and role in the management of working capital, inventory theory and methods of application. Part two contains eleven real life case studies, from various Indian industries. The techniques to be followed in India should be suitable for the Indian conditions, and all possible efforts must be made to keep the inventory at the minimum possible level. The book is useful for all concerned, for introducing modern methods of inventory management in Indian environment.