Gwapo
Chapter 1
PROJECT OVERVIEW
Background of the Study Inventory Management is the planning, control, organizing and leading the goods and materials required by the business (Collins, 2002) Living in a modernized time at the present, businesses needs to adapt to massive demands of our society in terms of production. This increase in demands tends to take a toll in handling inventory for products and resources. With these business entities incurring the biggest expense, needing it to be carefully controlled in order for the business to run effectively. Having the wrong inventory, or too much inventory can deplete resources to dangerous levels, so by managing it efficiently, the business will be aware of what stock they need to replenish and what needs to be shifted.
Through this aspect, An Inventory System plays a vital backbone to today’s businesses. Making data seamlessly flowing in to organized information necessary for financial success.
Review of Related Literature Inventory System, maintained within a database that ties an asset to its owner and defines the location where the asset resides. (Bronack, 2001) http://www.dcag.com/webdocs/INVENT01.html
Inventory management is to provide means of exercising a closed control over the flow of materials or goods into inventory and the flow of inventory into production or sales, thereby only preventing loss but also ensuring that adequate inventory levels are maintained. (Glautier, 1980 p.156) http://dspace.mit.edu/bitstream/handle/1721.1/28565
What is Inventory Management? Inventory Management, defined by (Isagani C. Belarmino) as a determinant for a business success or failure. It enables the business to meet or exceed expectations of the customer by making the product readily available.
(Donald and Lamarlee p.350-351) says that “No matter how diligently a store keeper performs the
PROJECT OVERVIEW
Background of the Study Inventory Management is the planning, control, organizing and leading the goods and materials required by the business (Collins, 2002) Living in a modernized time at the present, businesses needs to adapt to massive demands of our society in terms of production. This increase in demands tends to take a toll in handling inventory for products and resources. With these business entities incurring the biggest expense, needing it to be carefully controlled in order for the business to run effectively. Having the wrong inventory, or too much inventory can deplete resources to dangerous levels, so by managing it efficiently, the business will be aware of what stock they need to replenish and what needs to be shifted.
Through this aspect, An Inventory System plays a vital backbone to today’s businesses. Making data seamlessly flowing in to organized information necessary for financial success.
Review of Related Literature Inventory System, maintained within a database that ties an asset to its owner and defines the location where the asset resides. (Bronack, 2001) http://www.dcag.com/webdocs/INVENT01.html
Inventory management is to provide means of exercising a closed control over the flow of materials or goods into inventory and the flow of inventory into production or sales, thereby only preventing loss but also ensuring that adequate inventory levels are maintained. (Glautier, 1980 p.156) http://dspace.mit.edu/bitstream/handle/1721.1/28565
What is Inventory Management? Inventory Management, defined by (Isagani C. Belarmino) as a determinant for a business success or failure. It enables the business to meet or exceed expectations of the customer by making the product readily available.
(Donald and Lamarlee p.350-351) says that “No matter how diligently a store keeper performs the