Inventory System

Topics: Microsoft Access, Microsoft Office, Microsoft Jet Database Engine Pages: 22 (5456 words) Published: August 29, 2011

In today's business environment, even small and mid-sized businesses have come to rely on computerized inventory management systems. Certainly, there are plenty of small retail outlets, manufacturers, and other businesses that continue to rely on manual means of inventory tracking. Indeed, for some small businesses, like convenience stores, shoe stores, or nurseries, purchase of an electronic inventory tracking system might constitute a wasteful use of financial resources. But for other firms operating in industries that feature high volume turnover of raw materials and/or finished products, computerized tracking systems have emerged as a key component of business strategies aimed at increasing productivity and maintaining competitiveness. Moreover, the recent development of powerful computer programs capable of addressing a wide variety of record keeping needs—including inventory management—in one integrated system have also contributed to the growing popularity of electronic inventory control options.

Information system are collection of procedures, program, equipments methods that process data of make it useful to management for decision-making. The term Information Systems refers to the interaction between algorithmic processes and technology. This interaction can occur within or across organizational boundaries. An information system is not only the technology an organization uses, but also the way in which the organizations interact with the technology and the way in which the technology works with the organization’s business processes. Information systems are distinct from information technology (IT) in that an information system has an information technology component that interacts with the processes components. Methodical procedure or process, used as a delivery mechanism for providing specific goods or services to customers in a well defined market. Also called a company, enterprise or firm, it is a legally recognized organization designed to provide goods and/or services to consumers. Businesses are predominant in capitalist economies, most being privately owned and formed to earn profit that will increase the wealth of its owners and grow the business itself. The owners and operators of a business have as one of their main objectives the receipt or generations of a financial return in exchange for work and acceptance of risk. Notable exceptions include cooperative enterprises and state-owned enterprises. Businesses can also be formed not-for-profit or be state-owned.

1.1Background of the Study

In today's globalized and integrated economy, intense competition necessitates faster demand for goods and products, and manufacturers and producers cannot afford to stock more inventory than necessary. An inventory-control system (mostly automated or computerized) helps producers, warehouse owners and stockman to better manage inventory and control overhead expenses. It ensures that just enough inventories are kept in stock. A computerized inventory system monitors inventory level at all times and issues pay orders to suppliers and other business partners as required. Way back October 25, 2006, a business with the trade name of Double A Store was established. It was owned and managed by Mrs. Haidee Abel and her husband Mr. Julieto Abel. They started the business with a capital of P300,000. The store is located at Anilao Proper, Mabini, Batangas. The store has 15 local suppliers. Her store contain groceries, canned goods, rice, drinks, alcoholic beverages, snacks, cosmetics, gas tanks, shampoos, soap, beauty products, school supplies, and other things that are needed in everyday use that are monitored daily. But due to the large quantity of these products, they still experience out-of-stocking of the products. Thus, resulting inconvenience for the customers. And they are still looking for a solution to avoid problems such as out of stocking, over stocking, under stocking, fast and slow...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Inventory System Essay
  • Inventory System Essay
  • Essay on inventory system
  • Essay on Inventory Management Systems
  • Essay on Computerized Inventory System
  • Shapers Family Shop Sales Inventory System Essay
  • sales and inventory Essay
  • sales system documentation Essay

Become a StudyMode Member

Sign Up - It's Free