Inventory System

Topics: Business, Inventory control system, Marketing Pages: 2 (579 words) Published: February 25, 2014
1.0Research Description

1.1 Overview of current state of technology
Technology in today's modern society is constantly evolving at a rapid pace. Almost every thing that surrounds us is all about technology. The need of technology is affecting almost every area of society, including company's businesses. In today’s business environment, even small and mid-sized businesses have come to rely on sales and inventory systems. Advanced system on sales provide more reliable recording of sales of the company. Sales and inventory makes the company more productive, efficient and convenient to the company and it's clients. This sales and inventory system is meant to help the company to show to their customers that they are inline with the use of technology for it's demand is extremely high. By providing more reliable recording of sales of the company, hoping to increase their sales and most to increase the profit of the company. Using the computerized way of inventory is much more superior and far quicker than using the manual system. Indeed, implementing sales and inventory system on a company is a big help because it lessen the work load of the employees and minimize the factor of human error.

Inventory systems are use in many different companies today as a tool to make sure the company strives into success. Inventory systems serve several different functions for businesses; one purpose is promoting the sales function by ensuring that a sufficient amount of product is available for customers. Another purpose is shrinkage control, that is monitoring the frequency of loss, theft, or breakage of products received. Another very important function of inventory control systems is asset valuation; that is 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...
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