Inventory System Introduction

Topics: Point of sale, Retailing, Receipt Pages: 2 (439 words) Published: February 9, 2011
Many companies are using inventory systems for their success and growth. Inventory systems have a variety of functions purposes in businesses. Promoting the sales and shrinkage control are two main functions of inventory system. Promoting the sales function deals with availability of sufficient products for the customers where as shrink age control function deals with monitoring the occurrence of damage loss, or theft, etc. of the products. Another very important function of inventory control systems is asset valuation; that establishing the value of the products on the shelf for tax purposes at the end of the tax year. According to the Small Business Administration, all inventory systems strive to strike a balance between managing costs and the business advantages of a broad selection of goods to offer to customers. All inventory systems, regardless of technology, require some element of visual inventory management. Point of sales (POS) is a software application for retail sales management. It runs on an ordinary Windows PC with a receipt printer. Point of sales (POS) can mean a retail shop, a checkout counter in a shop, or the location where a transaction occurs. More specifically, the point of sale often refers to the hardware and software used for checkouts -- the equivalent of an electronic cash register. Point of sale systems are used in supermarkets, restaurants, hotels, stadiums, and casinos, as well as almost any type of retail establishment. Using (POS) in the proposed system makes the transaction less human effort. It is also accurate to the retailed price listed and it minimizes the encoding of personnel in the inventory. The time taken in using (POS) will be lessened and it will be benefit the company and to their clients. Transaction processing system (TPS) is one of the any types of information system within most business organization. It processed the detailed data necessary to update records about fundamental business operations. much more...
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