Inventory System for Gamot Publiko Drugstore Document

Topics: Inventory control system, Inventory, Supply chain management Pages: 2 (656 words) Published: February 18, 2013
Inventory System for Gamot Publiko Drugstore
1.1Background of the Study
It has been disclosed during the interview that Gamot Publiko Drugstore needs a computerized inventory system. The company’s current inventory monitory system though works for them has to automate. A simplified computerized inventory system will be very helpful to the company since this will expedite its inventory workflow as well as generate very timely reports needed by the management for its evaluation and review and overall decision making. An inventory control system is a process for managing and locating objects or materials. In common usage, the term may also refer to just the software components. Modern inventory control systems often rely upon barcodes and RFID tags to provide automatic identification of inventory objects. In an academic study performed at Wal-Mart, RFID reduced Out of Stocks by 30 percent for products selling between 0.1 and 15 units a day. Inventory objects could include any kind of physical asset: merchandise, consumables, fixed assets, circulating tools, library books, or capital equipment. Inventory Systems help companies with huge inventories to easily and accurately monitor their stocks. With the use of a database, information will be readily available to the user and can be easily updated without having to scroll through spreadsheets.

1.2Statement of the Problem
As business has grown rapidly , inventory monitoring becomes significant factor in managing overall business operation. The company had humble beginnings in terms of sales. From a few easy to handle flow of inventory stocks, the company had to handle large volume of stocks due to sales demand. The stock cards used as inventory monitoring sheets , were transferred to MS excel type control sheets. As sales and purchase volume increased, sales returns and inventory claims were inevitable. The process of updating inventory files became slow .Though reports are generated, they...
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