Inventory System Documentation
CHAPTER I
INTRODUCTION
Efficient, fast, and effective inventory management are important factors of a store owner’s establishment. Store owners are tasked to make consistent, reliable, and timely decisions considering obstacles like uncertainty, pressure, and lack of information. It is often that store owners do not have enough time or information to make a perfect decision but they are forced to solve problems using resources within their control.
Effective inventory control requires store owners to ensure inventories of the right items in the correct quantities. When the store 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 store 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. These are some of the problems of Janilyn B. Ong Chung, Q.V. Store owner, the research client.
The Q.V. Store is a “sari-sari” store in a small compound somewhere in Arevalo, Iloilo City. Originally Sto Niño Store, it changed its name in 2007, after changing management and ownership, the Q.V. Store is known for its fast and reliable products and also for its location, making it convenient not only for the neighboring houses but for Villa Rosa’s, a beach resort right in front of the establishment, customers as well. It is a family-owned business passed from generation to generation. The store has 2 separate stock rooms for more space within the main building. Three refrigerators inside the main building are also used where beverages are stored and cooled. The second stockroom maintains the supply cases for the beverages for the three refrigerators through a manual inventory system. This research will aim to recommend an enhanced inventory control system to be used by the store’s supplies.
Statement of the
INTRODUCTION
Efficient, fast, and effective inventory management are important factors of a store owner’s establishment. Store owners are tasked to make consistent, reliable, and timely decisions considering obstacles like uncertainty, pressure, and lack of information. It is often that store owners do not have enough time or information to make a perfect decision but they are forced to solve problems using resources within their control.
Effective inventory control requires store owners to ensure inventories of the right items in the correct quantities. When the store 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 store 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. These are some of the problems of Janilyn B. Ong Chung, Q.V. Store owner, the research client.
The Q.V. Store is a “sari-sari” store in a small compound somewhere in Arevalo, Iloilo City. Originally Sto Niño Store, it changed its name in 2007, after changing management and ownership, the Q.V. Store is known for its fast and reliable products and also for its location, making it convenient not only for the neighboring houses but for Villa Rosa’s, a beach resort right in front of the establishment, customers as well. It is a family-owned business passed from generation to generation. The store has 2 separate stock rooms for more space within the main building. Three refrigerators inside the main building are also used where beverages are stored and cooled. The second stockroom maintains the supply cases for the beverages for the three refrigerators through a manual inventory system. This research will aim to recommend an enhanced inventory control system to be used by the store’s supplies.
Statement of the
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