An inventory system is basically a process whereby a business keeps track of the goods and material it has available. In its simplest sense it can be done manually by a count at the end of each day. In this way it is possible to keep a record of the goods coming in to the business and goods being sold. However this is only really appropriate for small businesses that do not have a lot of stock. For larger business it is more likely that a computerized system will be required. Transaction processing systems are commonly used to operate businesses. In this era, manual transactions evolved into computerized ones. Manual inventory systems turned out to be slow and inaccurate resulting to problems like running out of stocks and slow computations of product prices being bought by the customers. The degree of success of a business greatly depends upon controlling the merchandise inventory. The continuously improving and upgrading of computer usage into more powerful and useful applications has made managing business transactions a lot more efficient and easier. Today, businesses use the computer to assist in controlling and monitoring many aspects of the businesses, since manual approach in data processing could no longer meet the demands of increasing volume of transactions.
Background of the Study
Lagamayo Telecoms is a retail firm engaged in telecom and media trading business founded by Mary Guillan B. Lagamayo almost ten years ago. In the late 1990’s, with the mobile phone service still in infancy in the Philippines, Mary Guillan B. Lagamayo started to notice the growing popularity of using cell phones among Filipinos. Customers were lining up at cell phone kiosks just to grab one of the latest handsets. At this time, she realized that the “next big thing” in business was already happening, the telecom trading business. With this in mind, Lagamayo Telecoms was established in February of 2001 as a single-proprietorship firm under her name with its first kiosk-type store located on the ground floor of Alabang Metropolis in Muntinlupa Now, the business has grown to a network of 13 stores and 50 employees spread in the Bicol Region and Cavite. The main problem of the company from its existing manual system is that they are having a hard time monitoring all stocks from every branch due to slow process of transactions. Daily reports were not accurate since they manually process large volume of data. It takes a lot of time and effort to make it. This study will help the company solve the problems stated. With the use of Inventory System with Point of Sale, it will minimize the time consumed on the retrieval of information. It will monitor stocks and the reordering of products to avoid from running out. It will generate accurate reports faster to be needed in decision making. The point of sale system is really convenient in this kind of business because it minimizes the time of processing transactions due to its automatic price computation. I.T. Innovation
Since the evolution of computers, it has touched every aspect of human life development. Through the use of sophisticated computer applications, many businesses have thrived and expanded. Communications have become more convenient, fast, and in real time. The proponents will be using barcode reader. The scanner is connected to a computer with software that records the transactions. The proponents will be using Visual Basic.Net as its programming language to develop the software and MySQL for its database. Rationale
The proponents chose to develop this system to consider numerous benefits that would make the company more effective in their business operations. With this, they can monitor and maintain stocks. It will speed up and accurately record the store transactions that will ease the work of the employees. It instantly reduces errors and makes it simple to update prices. Also, it will generate timely...