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Hospitality Information Systems and Users

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Submitted By jackson2331
Words 1159
Pages 5
Monique Chenard
Hospitality Information Systems and Users
Lauri Figueroa
Course # BIS/303

Inventory tracking is the controlling and overseeing of storage and the ordering of components that many companies use in producing items. Inventory tracking used also for overseeing and controlling of finished products for sale. A company’s inventory is their investment and a part of their assets that has sold and used in the company as part of its production. Inventories that are mismanaged may create sizeable financial and inventory problems for companies, whether the mismanagement results in an inventory shortage, over inventory and loss in possible sales.
The two types of inventory tracking used are Perpetual and Periodic. In a perpetual (usually used in supermarkets or department stores), a continuous flow of inventory count is tracked using a point of sale (POS) check out system. This system is perfect for companies to manage what has sold and reorder when a reorder point has reached. Another advantage of this system is its ability to account for shrinkage (theft) and inventory turnover.
The periodic system (used in smaller retailers) used to take a physical count of inventory at periodic intervals to replenish the inventory. This system would be most beneficial for companies that do not have products with UPC or bar codes, such as details and has purchased in large quantities at a time. In this case, someone on a line would monitor the level of the bin and notify a manager when an order would need placed.
IQ pos streamline point of sales manage through very effective, reliable and tools that are flexible enough to manage many operations in its entirety. IQ banquet delivers a range of features to control your group room sales, catering operations, increase staff and management productivity. IQ banquet and integration to IQ PMS, provides sales and manage

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