Eugene F. Brigman, Fundamentals of Financial Management, 5th ed., (Hinsdale: Holt, Richard and Winston Sounders College Publishing, 2000), pp. 840-841.
Companies are increasingly employing Inventory System. A computer start with an inventory counts in memory. Withdrawals are recorded by the computer as they are made, and the inventory balance is constantly revised. When the recorded point is reached, the computer automatically places an order, when this new order is received, the recorded balance is increased. Retail stores have carried this system quite far, each item has a magnetic codes, and as on item is checked out, it passes over an electronic reader, which then adjusts the computers inventory balance, at the same time the price is fed to cash register tape. When the balance drops to the recorder point, an order is place. Chapter 3
The authors aim to develop a automated inventory system which is technically, operationally, and economically feasible for PhilHealth Company, Dagupan City.
The method used by the researchers to develop a automated inventory system is Descriptive Method.
The researchers conduct several interviews in order to gather information about the present existing conditions of the inventory system, knowing its problems and enhancing it by developing an automated inventory system. Questionnaires were also distributed to all interviewees for additional information. Using the descriptive method, the researchers also observe the functionality of the present inventory system of the PhilHealth, which help them discover that Electronic Data Processing is Advantageous than other.
Please join StudyMode to read the full document