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The retail industry is the fastest growing industry in India also in the world. The retail industry growth rate was 23% in 2017 in comparison to 2016 and is expected to grow at a higher rate in 2018. A research says retail industry in India expected to see a growth of 1100 trillion US $ by 2020. In the year 1990, the retail industry captured 23% of the total market and after 2000 it captured 43%. And with this growth rate, Indian retail industry is marching towards becoming the largest retail sector in the world. Let's take an example to depict the real growth of retail in India. In the year 2011, I have finished my graduation and at that time there was no shopping mall in my hometown (a rural place in the state Odisha). After 7 years i.e. in 2018, there is a lot of shopping mall emerged as the shopping hub. So, in these 7 years, the retail industry grows at a faster rate in India as well as worldwide. E-commerce is booming as another growth factor for the retail industry. E-commerce

Inventory refers to the goods stocked for future usage. Every retail chain has its own warehouse to stock the merchandise to be used

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