Manual Inventory

Topics: Point of sale, Business, Types of restaurants Pages: 5 (1771 words) Published: December 13, 2010
Manual inventory tracking compared with inventory tracking systems on your computer. A good inventory tracking system accomplishes four things: 1) it shows what merchandise is in stock, 2) it shows which items are on order, 3) it notifies the retailer when ordered merchandise is scheduled to arrive, and 4) it tells what merchandise has been sold. This information is used to plan future purchases, to determine what is selling and when it is selling, and it helps determine what items need to be reordered or discontinued. If the company carries a large inventory, has a large variety of items in stock, or re-orders frequently then a computerized system would be easier to use and maintain. They provide greater accuracy and more flexibility in the types of information and reports that can be generated by the program. Systems update inventory counts at the “point of sale” and because of this instant update, retailers have a better idea of what needs to be reordered, what items are moving, and what items are stale. it is easier to maintain and utilize than a manual system.

Tracking sales is much simpler because all the calculations are done by the computer and can be printed out in a number of financial reports. financial reports can be customized to show profit by day or by item. medium to large inventory with more than one item in stock a computerized system may be more effective in tracking you inventory and maintaining your records. ------------------------------------------------------------------------------------------------------------------------------------------ Wastage of space, problem in searching records manually, data redundancy, insufficient security of backups, no updated reports, data inconsistency and problems in identifying clients are the few problems that are faced by our current system. disadvantages' are not disadvantages, but problems with the quality of the input, setup, maintenance, and use of the system/data. ------------------------------------------------------------------------------------------------------------------------------------------ What Are the Benefits of Using a Computerized Inventory System? Efficiently tracking inventory is an imperative component to a small business’ successful operation. By having up-to-date data regarding all needed supplies, materials and merchandise for sale, an organization will drastically increase its bottom line. In addition to the money saved by not reordering unnecessary goods, an enterprise will be better positioned to services customers quickly, as well as navigate any unexpected changes in business, such as a supplier abruptly going out of business. Time Savings

As the old saying goes, “time is money.” The amount of time that can be saved by a business is, perhaps, the biggest benefit of using a computerized inventory system. Accuracy
An additional benefit of using a computerized inventory system is the accuracy it ensures. Eighteenth century English poet Alexander Pope is often quoted as having said, “To err is human.” When an inventory list is maintained by hand, the margin of error widens with each update. If one mathematical calculation is wrong or one typo is made, disaster may occur. Consistency

A small business operates most efficiently when its processes are executed in a consistent manner. By using a computerized inventory system, a business owner can ensures that all orders, reports and other documents relating to inventory are uniform in their presentation, regardless of who has created them. This will allow ease of reading. ------------------------------------------------------------------------------------------------------------------------------------------ Restaurant POS benefits

POS systems can greatly reduce the amount of time your staff spends in the kitchen and speed up the order process. In addition to the direct cost savings, restaurant POS...
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