History or the Company
Lempot Loading Station was founded on the year 1998. It was established by Mr. Eriberto and Melissa Malabiga. It is presently located at 42 P. Burgos St. Sto. Niño, Marikina City. During the company’s early years, they are just selling prepaid cards in retail and wholesale price. The company started retailing load when electronic load, also known as e-load, came in to the market somewhere in 2001 or 2002. Later on, their business grew and acquired a sub-dealer sim card that can transfer load to those who are selling retail load. The business is growing and gaining lots of customers. And in 2008, the company added a cash remittance service which enables the business to transfer money to different places around the Philippines powered by Smart Money.
Nature of the Business
Lempot Loading Station sells prepaid cards. The business also sells load directly to consumers and transfers load to those customers who are also selling load to consumers. The business also has a cash remittance service which enables the business to transfer money to different places around the Philippines powered by Smart Money.
Goal of the Company
The goal of the company is to grow more and to have a higher profit every year and to be able to open more branches in the near future.
History of the Existing System
The current system used in the business is processed manually. The products are counted manually and data is stored in a record book including the quantity and the price of the product. These are then computed manually using a calculator until they find the total inventory.
User of the Existing System
The Owner and the Auditor is responsible for the inventory of the products and update records
Data Flow of the Existing System
Statement of the Problem
Manual System is currently used by the business generally results to inaccuracy and delay of reports. Mainly due to the human limitations and efforts required by the manual processing. Specific Problems
* Delay of daily reports.
* Inaccurate computation
* Physical threats
Analysis of the Problem
Analysis of the problem
Manual inventory requires in checking the stock number and stock on hand daily. It also relies heavily on the actions of people, which increases the possibility of human error. If the auditor forgets to update record before the end of the day, there is a possibility to lose track of inventory sales. Data is recorded manually into a logbook and it is a very time consuming that can be resulted to inaccurate computation for the total inventory. Last is for physical threats like fire, flood, theft or malicious damage.
Formulation of Recommendation
Formulation of Recommendation
* Alternative Course of Action 1
* Make a tally sheet of the products that are purchased within the day. This will lessen the time in counting the products daily.
* Alternative Course of Action 2
* Make an Excel file that can monitor the inventory stocks and sales daily. This can also store the date in the spreadsheet. This can also help in accurate computation of the sales and total inventory.
* Alternative Course of Action 3
* Make an automated system that can monitor the inventory stocks and sales daily. The system can also store the data records in a database. The system can also automatically compute for the sales and the total inventory.
Validation of Recommendation
The proponent chose the Alternative Action 3 wherein it is more useful for the company to have the automated inventory system than to have manual inventory. Once the computerized inventory management system is in place, manager or workers can use it to automatically input and store data of their products daily and compute sales and total inventory. It...