Inventory System

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CHAPTER I

INTRODUCTION

In today’s generation, we are engaged in highly computerized technology aiming to enhance individual lifestyle and most especially in the world of business. The manual system is now considered obsolete after the birth of the computerized system. Windows Based transaction is now very common to widen the target market of the Company. It becomes more attractive to the clients considering it can save time and considered hassle-free. The most commonly used system by several companies is the sales system and inventory system creating a window based system. Advanced system on sales provide more reliable recording of sales of the company with comparison to its actual cost. In addition, the data needed by the company to decide matters in relation to inventory can be easily generated. Moreover, the inventory system promotes effective inventory control which ensures stocking the in demand and correct items in the correct quantities. This system can help the company to avoid overstocking. When an organization overstocks, money is wasted since procuring, storing, and accounting for unneeded items require time, space, and money which could have been used on more critical assets. Likewise, when under stocking occurs the organization will more likely to only partly meet their mission or possibly not meet the mission at all. Also, a weak inventory control system is more prone to errors and fraud. Having advanced systems on sales and inventories makes the company more productive, efficient and convenient both to the company and its client. The system is meant to help people show to 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 sales and inventory systems, management can easily make consistent, reliable, and timely decisions.

BACKGROUND OF THE STUDY

Through Sales and Management Inventory Control System, the importance of computerization is vastly utilized. A system is a set of detailed methods, procedures, and routines established or formulated to carry out a specific activity, perform a task, or solve a problem. Sales and Management Inventory Control System is one of the most important systems on process of any business because it involves the management of products, materials, and equipments which is vital on production management. Inventory is a process of counting products and listing goods and materials available in stock by a business. An inventory of stocks consists of all the physical assets of a business. It is usually performed in order to know the availability of products. A sale is the pinnacle activity involved in the selling of products or services in return for money or other compensation. It is an act of completion of a commercial activity. 

STATEMENT OF THE PROBLEM

The study will enhance the manual inventory control system for a better inventory management and to eliminate/reduce risks of errors and fraud. It will seek to answer what enhancement and design the company can adopt for a more effective and efficient inventory system.

Specifically, it endeavors to answer the following questions: 1. What are the current policies and procedures to account for their inventory? 2. What are the strengths and weaknesses of the current inventory control system? 3. What appropriate measures should be adopted to minimize risks from the weaknesses and threats? 4. What inventory management and accounting concepts, principles, and techniques should be applied to the enhanced inventory control system?

OBJECTIVE OF THE STUDY

The main objective with the use of the Sales and Management Inventory Control System, it can manage the process of the business as well as the daily transactions. It helps the personnel to do their jobs at the right time. It is much easier to do their reports and other communication for their customer.

The specific goal of the study is to evaluate the current...
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