Inventory managment is the artwork and science of attaining the set targets of deciding to buy the materials at the lowest viable costs
Inventory managment is the artwork and science of attaining the set targets of deciding to buy the materials at the lowest viable costs, making sure sufficient go with the flow and making the mosteconomical use of such materials in order that the total cost of production is minimized through the creation of such an environment that would enable the humans make a contribution tothe success of the objectives with least quantity of such inputs as money, time, materialetc. On the different hand, inventory manipulate is the science primarily based art of making sure that enough inventory is held via an agency to meet economically both its internal and externaldemand commitments. There can be dangers in holding both too a good deal or too littleinventory, as such, inventory control is principally concerned with acquiring the correctbalance or compromise between these two extremes. It is therefore, the extent that should be held that administration is interested in there is an inventory problem when it is necessary to store goods or material goods to satisfy the demand in a certain period of time. almost all commercial organizations must store assets and raw materials to ensure smooth and efficient operation of their operations. the decisions related to how much and when to order are the typical inventory problems. the inventory management and control systems ensure the correct use of the materials and the determination and maintenance of the optimum level of investment of materials. currently, the quantitative economic order model (EOG) is the most widely used model to control inventory in most manufacturing companies
1.1.1 Aref Contractor Company Background
Aref Controcter is one of the unique companies in Jeddah Saudi Arabia owned by Abdullah Aref Alsharif. It was founded in 2006. It offers the customer a variety of services such as a design for residential and public buildings, road design, road construction,and gardens. Aref Contracting has a large number of clients from Jeddah, Riyadh, Makkah, Dammam and Tabuk, and now wants to expand in Saudi Arabia. The success is a strong relationship with customers and the believe in customer satisfaction.
1.1.2 Aref Contractor Company nature
Aref Contractor Company is providing all materials, labor and equipment such as cars, tools, engineers and services required to build the project. The general contractor is the person who hires the workers to perform construction work.