Sales and Monitoring

Topics: Time, Theory of Forms, Inventory Pages: 1 (391 words) Published: December 4, 2013
Chapter I
The Project and its Background
Inventory and Monitoring System is an effective way for monitoring and tracking different products and materials that are transferred in and out of a company’s warehouse or establishment, store or market place usually for accounting purposes. It is also important for a company to monitor all the transactions, events or movements of goods in order to keep an account of all their stocks. However in some establishments or company, the inventory of the product is done manually in such a way that an employee writes down the information of different products every time it is transferred in and out of the room. The same case applies in CLB Property Office; and as a result, the inventory and monitoring system becomes prone to human error and would be more time consuming which will most likely be a loss for the institute. In CLB Property Office, there is a corresponding form for every incoming or outgoing item (from the stock room). These forms serve as the basis of comparison when inspecting; that is, the amount of item that goes in or out must tally with those written in the forms. Afterwards, all the forms and records used in the transactions will then be kept for future reference. Besides, inventories are being computed every day without any tally or documentation for everyday inventory. Their inventory is being done once a week, but most of the time, monthly. In addition to the complexity of the process, the employee responsible on this task also needs to check the stocks once in a while so as to monitor which items are already getting below the allowable minimum quantity. Because of the draining work, there were circumstances when the inventory record in the admin does not tally with the actual amount of the available items. Another thing to consider in manual inventory is prone to errors since it is unavoidable that the employee assigned to do the sales and inventory would commit mistakes. Introduction

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