Inventory system Essay

INTRODUCTIONBACKGROUND AND RATIONALEIn todays generation, we be engaged in highly computerized applied science aiming to enhance individual lifestyle and most especially in the world of agate line. Certainly, there ar plenty of small retail outlets, manufacturers, and other businesses that continue to aver on manual means of blood tracking. Many companies and businesses are using gross sales monitoring and inventory arrangings for their success and growth. It is an effective way for monitoring sales and tracking different products and materials that are transferred in and out of a companys warehouse or establishment. Moreover, a sales monitoring and inventory ashes promotes effective inventory control which ensures stocking the marketable and correct items in correct quantities. This system can help the company to avoid overstocking.When a company overstocks, coin is wasted since procuring, storing, and accounting for unneeded items require time, space, and money which cou ld harbour been used on more favourable and marketable assets. Having a developed system on sales monitoring and inventory makes the company more productive, efficient and convenient both to the company and its client. The sales and inventory system is meant to help the company employees and staff office to show customers more relevant items, hoping to expedite and increase the sales and most importantly to increase the profit of the company. With the aid of a sales monitoring and inventory systems, product management depart be more consistent, reliable and efficient.Soundpoint Electronics and General Merchandise is a retail enterprise located at Brgy. Taboc, Borongan City, owned and managed by Mr. Crisanto Jose C. Labro.The computerization of their existing system is one of the primary reason why I conducted this study. I believed that with the computerized sales monitoring and inventory system, the problems met on the existing system will lessen and eventually eliminate.STATEME NT OF THE PROBLEMThis study aims to solve the following existing manual sales monitoring and inventory problems1. Their present sales and inventory system is highly labor intensive because they require continuous monitoring on their business enterprise on a daily basis.2. In terms of their sales minutes, the only record that they have are the customers official receipts and the problem with that is not all customers ask for an official receipt. They cannot bump how much their total earnings are at the end of the day because their records or the official receipts that they keep are not complete.3. Lack of security in terms of their sales and their products. The business owner will find it difficult to see if some products are wanting or missing because they dont have any written records about the available products. 4. Unreliable inventory and sales extend. Because they dont have a complete records of their inventory and sales transactions, they cannot produce any inventory or sa les report that are really consistent and dependable.SCOPE AND restriction OF THE STUDYThis study was conducted at Soundpoint Electronics and General Merchandise located at Brgy. Taboc, Borongan City. This was conducted during the first semester of school year 2013 2014. The proposed sales monitoring and inventory system will 1. This can no longer be highly labor intensive because with the aid of the sales monitoring and inventory system, they can monitor their sales and determine their lacking and unavailable products with the accurate reports that the system will generate. 2. After each customer transaction, the system will generate an official receipt and from then, they will be able to have a record and they can now determine their earnings.3. Promote data security in terms of making the files always updated and low-cal to locate to provide a faster mean of doing the inventory. Unauthorized employees and persons will not be able to use the system unless under the supervision of the business enterprise owner. 4. Enable to produce accurate reports. A sales report to know the earnings of the business enterprise daily, weekly, monthly and yearly and an inventory report to seewhat products are lacking and unavailable. However this sales monitoring and inventory system will not cover the following1. Payroll report of the employees.2. ordering of the needed / lacking products in the business enterprise.SIGNIFICANCE OF THE STUDYSOUNDPOINT ELECTRONICS AND GEN. MERCHANDISEThis study will greatly contribute to the management in improving its take aim of sales and inventory management consistency, efficiency, accuracy and convenience in providing and giving services to owner, employees and customers.PROPONENTThis study will help the proponent understand and apprize the importance of the sales monitoring and inventory system for all business enterprises and establishments. This study will also improve her knowledge and experience in thesis writing as well as cre ating the Sales Monitoring and Inventory System.FUTURE RESEARCHERSThis study will greatly help the coming(prenominal) researchers to be certain on how important a sales and inventory systems in a certain business enterprise.This study can be a reference to the future researchers who undertake studies in the same nature, also as contribution for other topics/areas. In addition to this, it will offer essential information and learning experiences to the future researchers, to expand their knowledge in the fields of System Analysis and Design and Software Development. And the study will also help the future researchers to gather portentous information and to learn more about the problems that most business enterprises encountered in their sales and inventory management.CUSTOMERSThe customers will be benefited in a way that their processes andtransactions in the business enterprise will be much easier and faster because of the computerized sales monitoring and inventory system.SUPPL IERSThis study will also be laborsaving to the product suppliers in terms of in every product name, the name of the supplier or the company of the supplier will be seen. If the time comes that the products are already lacking in the business enterprise, the proprietor will know who the suppliers are and can contact the suppliers immediately.DEFINITION OF TERMSAccuracy- the ability to be hairsplitting and avoid errorsComplexity- the condition of being difficult to analyse, understand and solveComputer- machine that perform tasks, such as calculations or electronic communication, under the control of a set of instructions called a program Computerize to store information in a computer system or process it by a computerConvenience the quality of being or making things light(a), useful, or of increasing comfortCustomer a person or company that buys goods or servicesData information, a form that is suitable for storage in or processing by a computerEmployee a paid proleEnd User a person or group that is one of the ultimate consumers or users that a software product has been designed forFeasible sufficient of being achieved or put into effectGantt Chart a chart in which horizontal lines show the actual and projected amounts of time involved in completing a particular task or reaching specific levels of productionInventory System are tracking systems that inform you of the amount of dim materials, supplies or final products you have readily availableManageability able to be handled or controlled without much difficultyManufacture a factory, person, or agreement that produces finished goods from raw materials, especially on large industrial scaleMarketable Assets products that fit to be change, in demand and therefore relatively easy to sellMonitoring Staff- anemployee or personnel who checks for incorrect and damage productsPersonnel the people employed in an organization, business or armed forceProducts items sold in a storeProponent- the stude nt who analyzes and researches in great detail in order to understand and discover more about this study owner the owner of a commercial enterprise or establishmentReference a source of informationResearcher a person who study something methodicallySuppliers- a person that provides or sells available or needed products by a company or any retail enterprisesUtilize- to make use of something or find a practical or effective use of something