...Inventory Management System for small business Jim Shrestha Washington Adventist University, Takoma Park, Silver Spring, MD Abstract In this paper, I tried to illustrate the importance of inventory management system for small business. The term small business denotes to all those business which is family or person owned and donot have maximum revenue. This paper explains the idea, how to set up new inventory management system with minimal budget. As my paper focuses more on small business, I explain very common and effortless way of setting up new inventory management system. Most of the informations are extracted from different inventory management supplier’s official websites. With these information and some visual figures, I anticipate everyone can understand how setting up new inventory management system in their business can be more economical and time saving. Inventory Management System Inventory management system is the key term to the modern business era. Without a proper inventory management tools, a business cannot perform in it’s fullest. Simply it is the automated management method of business inventory where every purchase and sale are listed in an organised fashion. The systems ensure customers always have enough of what they want and balance that goal against a retailer's financial need to maintain as little stock as possible. Because mismanaged inventory leads to disappointed customers. That’s why this inventory management system has become...
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...18, 2011 at 10:56pm Foreign And Local Literature About Sales And Inventory System AMA EDUCATION SYSTEM LUCENA CAMPUS LC Pc Net Sales and Inventory System A Case Study Presented To The Dean and Faculty Of Department of Computer Studies Background of the Study Technology has taken a big leap forward in 21st century, with computer programs, electronics upgrading by the month & even by the day. Technology has influenced & greatly simplified almost in every aspect of a student’s life today. It is amazing what technology has done to our society and how dependent we have become on it. Having computers in the workplace has enable the business to our more efficiently and has contributed in having on all around Is this Essay helpful? Join OPPapers to read more and access more than 350,000 just like it! GET BETTER GRADES better businesses, using computers cut down our work time, we don’t have to write everything out by hands or type out on typewriters. This increase in usage of computer proves that computers have affected every aspect of our lives and have become one of the necessities. Many developers have contributed to such an advancement and widespread of computer technology. Nowadays there are so many companies using technical system to improve the quality of service of their company, but there are some companies still using manual computing for their product inventory like LC Pc Net Sales & Services. LC Pc Net Sales & Services is owned by Mr. Leo Boongaling. It is established...
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...Riordan Raw Material and Final Product ERP System Gerald Anderson, Henry Perkins, Kenneth Nelson CIS\207 May 18, 2015 Pat Sullivan Riordan Raw Material and Final Product ERP System It has been requested by Riordan to create an Enterprise Resource Planning (ERP) system to track raw materials and finished products across all their plants. Riordan has previously implemented a standard set of procedures to ensure each plant is managing the resources and products inventories appropriately. Currently their raw materials and finished products are manually entered by an inventory clerk into systems at each plant. The new ERP would integrate with the current inventory systems or replace the current inventory systems to provide a global view of resources and finished products. This would allow Riordan to have a global view of resources and product completion without manually requesting information from each individual plant. If a system replacement is selected, it should provide the ability to enter resources, sub assembly products, final products, customer orders and billing information. Whether integration or a replacement solution is selected, it would need to provide the ability to produce analytical reports to assist Riordan with raw material usage, final product completion and sales analysis. To accomplish these needs, the system will need to have the ability to tie raw materials to products and sales. This will require each system to have a key unique element to accomplish...
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...Pamplona Tres,Las Piñas City Title: Computerized Inventory System Subject: Software Engineering Author: Bautista,Jan Royette L. Calim,Michellle Lumbang,Matt Andrew Degree: 2nd year student Date Started: January 2016 Date completed: Objective of the Study The general objective of the study is to develop a computerized inventory system that will make the owners inventory system easier and comfortable for the benefits of the company. And to identify a minimum stock level to keep detailed records with a good inventory system. Scope and Limitation The Computerized Inventory System provides a good quality system that can organize the food inventory system easier than manual of the system. The Inventory keeper of the company can handle the security of their inventory using the system provides. The system we provided is limited because it only keeps or stores the inventory record. Easily deletes the data in the system. The other limitation is that an employee might enter data incorrectly, introducing inaccurate information that can compromise decision-making. Output of the study A computerized inventory system can manage the stocks of their inventory if it is low count or a big count of food supply. The system can be also use for keeping the previous data of the food inventory. Stores the food stocks and manage inadequate and volume...
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...nowadays which are high-priced medications. Founded by Mr. Mendoza, Mendoza Drugstore was established on March, 2011 in Santa Maria, Bulacan. The company has two employees and one administrator. Although the pharmacy provides cheap but effective medicines to their townsmen, problems arise with the pharmacy performance. The sales and inventory transactions in the store using only calculator has a very slow processing considering they do not have a computerized sales and inventory system yet. The processing of sales and inventory usually begins when a customer buy medicines over the counter. The employee will now perform the sales transaction. After the transaction, receipts should be given to the customers but they still do not have a receipt processing system. On the other hand, the medicines bought by the customers should be automatically reduced in the inventory area. Newly delivered medicines are also processed in the inventory. 1.2 Conceptual Framework Figure 1.0 Conceptual Framework of the Proposed System Figure 1.0 presents the main obstacles of the pharmacy since it settled down to business. From slow point of sale transactions...
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...CHAPTER I INTRODUCTION Many companies are using inventory systems for their success and growth. Inventory systems have a variety of functions purposes in businesses. Promoting the sales and shrinkage control are two main functions of inventory system. Promoting the sales function deals with availability of sufficient products for the customers whereas shrinkage control function deals with monitoring the occurrence of damage loss, or theft, etc. of the products. Another very important function of inventory control systems is asset valuation; that establishing the value of the products on the shelf for tax purposes at the end of the tax year. According to the Small Business Administration, all inventory systems strive to strike a balance between managing costs and the business advantages of a broad selection of goods to offer to customers. All inventory systems, regardless of technology, require some element of visual inventory management. The proposed system is a combination of an Inventory System for the King Dnarmsa Spirulina Int. The benefits of this system definitely outweigh any negative side effects the system may have. Inventory Systems also help businesses out because they help the specified site with the upkeep of their inventory and all their sales. This is beneficial to the business because doing things manually is very hustle. Inventory control requires the tracking of all parts and materials purchased, products processed, and products stored and ready for shipment...
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...records needed for the new sales and sales returns system. Principle risks will also be identified in the report. An effective internal control will be useful on addressing those risks, which will be helpful on making preventive and corrective measures. Works of auditor regarding to the new system will also be mentioned. This report is for internal use only, no circulation between third parties is allowed. Documentation, processes and records for the new sales and sales return system: When the Sales department has received a sales order from customers, they have to fill in a form and file it properly. The department will access to customer records for credit checking. If credit is fine, there will be one copy be sent for being a supporting document in sales report, another copy will be sent for making an invoice to accounts receivables department. The sales amount will be recorded in the general entries of accounts receivables. All these records will be reported to management monthly. When customer makes the payment, it will come with a remittance advice, the advice has to make two copies, one goes to accounts receivables department for recording, and paying into bank. Another one will be going into customer records, for updating the customer’s credit record, and estimating the chance that customer will fail to make the payment. At this time, sales authorisation will be made to the inventory department. RFID inventory control system will also be introduced. Before...
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...Your Hand" 26209 Fairfax Ave. Cincinnati, OH 45207 (513) 555-7272 Bradley Regent, CEO palmtopinnovations.com This document contains confidential information. It is disclosed to you for informational purposes only. Its contents shall remain the property of Palmtop Innovations and shall be returned to Palmtop Innovations when requested. This is a business plan and does not imply an offering of securities. Table of Contents 1. Executive Summary Business Opportunity Product/Service Description Current Business Position Financial Potential The Request 2. Company Background Business Description Company History Current Position and Business Objectives Ownership 3. The PalmPal Product Product Overview Competitive Analysis Suppliers and Inventory Research and Development 4. The Industry,...
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...2016 COMPUTERIZED MANAGEMENT AND MONITORING SYSTEM FOR RAPA GENERICS PHARMACY A proposal Presented to Mr. Neil Martin S. Maraneta In Partial Fulfillment of the Requirements for the Subject of Systems Analysis and Design by: Lastname, Firstname MI. Mr. Neil Martin S. Maraneta Instructor November 2015 1.1 Introduction A pastor named Ferdie Sinense together with his wife Marisa Sinense who works as an auditor, established Rapa Generics Pharmacy on September 23, 2011. The main branch of this Pharmacy is located at Pandi Road in Bulacan City. Anthony Rudil, a licensed pharmacist and Jennifer Robela the assistant pharmacist are currently managing the business. In addition to that, the business opened its door to three more branches located in Pulang Lupa, Pandi Bulacan and Marikina. 1.1.1 COMPUTERIZED MANAGEMENT AND MONITORING SYSTEM FOR RAPA GENERICS PHARMACY 1.1 Overview of the Current State of the Technology The use of manual business process has declined since the rise of computerized and automated systems, and nowadays, the use and need of these systems have become prevalent among developed and developing countries due to the increased productivity and efficiency of data processing. Because of this, our recipient decided to accept our proposal, which is the “COMPUTERIZED MANAGEMENT AND MONITORING SYSTEM FOR RAPA GENERICS PHARMACY”. And in order to achieve this, Sales and Inventory System for RX Drug Store...
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...automated asset tracking and management, Barcode and RFID technology, and client/server inventory management. They also offer installation services and 24/7 customer support. Intuit is the most popular inventory controls system since it is widely used in both small and larger organization. Intuit provides its customers with as easy startup plan that includes management inventory for tracking sales, returns, and exchanges, free hardware such as cash drawers, handheld scanners, pin number pads, and a “go payment” mobile card reader. Intuit also offers their customers full support on all hardware and software and a free trial period of 30 days. The current price for purchasing Intuits Management Inventory System is $900. James E Dodge Business Communications Author Note [Include any grant/funding information and a complete correspondence address.] automated asset tracking and management, Barcode and RFID technology, and client/server inventory management. They also offer installation services and 24/7 customer support. Intuit is the most popular inventory controls system since it is widely used in both small and larger organization. Intuit provides its customers with as easy startup plan that includes management inventory for tracking sales, returns, and exchanges, free hardware such as cash drawers, handheld scanners, pin number pads, and a “go payment” mobile card reader. Intuit also offers their customers full support on all hardware and software and a free trial period of 30...
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...Studies Computerized sales and inventory systems help manage products and ensure that transactions are completed correctly. These tools track products and provide ongoing inventory controls that reduce shrinkage. Use of these resources makes retail activities much easier and efficient. Using computerized sales and inventory systems allows for much greater accuracy in stocking and product management. They encourage ease of interaction between employees and shoppers as transactions are processed and items move from the business to the consumer. Computerized sales help provide better insight into which products are most popular. It also allows for enhanced marketing, stocking and oversight of critical sales objectives. Computerized sales and inventory systems save time for businesses by speeding up transactions while raising accuracy. This allows for confidence in accounting and accountability among employees as it is easy to verify how much money is in a till and what time transactions took place. They also allow for consistent experiences in terms of customer service. People know there is always a uniform interaction at the register that requires tendering payment, taking a receipt and transition of ownership of products and services. This generates confidence in a business and ensures ongoing consumer relationships. Computerized systems are the most common method of inventory control and sales processing in retail markets. Description of the Existing System This part describes...
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...A marketer is said to be using a multi-channel or hybrid distribution system when he utilizes more than one distribution design. As we have studied earlier in the example of Starbucks, multiple distribution designs are put to use in the distribution of its product. It uses a direct retail system when it sells its products in company-owned stores, a direct marketing system by selling via direct mail and single party selling system is put to use when its products are sold through grocery stores. Apart from these other distribution systems are also put to use. Multi-Channel distribution system is advantageous as it expands the distribution system and more customers can be reached. The possible disadvantage again is channel conflict of which the marketer should always be cautious. The Coca-Cola Company is the world’s largest beverage company. It is recognized as the world’s most valuable brand. It markets four of the world’s top five soft drink brands like Diet Coke, Fanta, and Sprite along with water, juices, tea, coffee and energy drinks. It has one of the world’s largest beverage distribution systems spread over 200 countries selling 1.6 billion servings a day. Let us first understand what a supply chain is and also the supply chain components we have chosen to focus on. Supply Chain A supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities...
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...of work: We will break this Asset Management System(AMS) development project into several phases and stages by using the system development life cycle (SDLC) theory with assumption of object oriented implementation. Phases in SDLC include planning, analysis, design, implementation and maintenance, but for now, we will only discuss about the planning phase. Planning phase Activities: 1. Identify, analyze, prioritize, and arrange our organization’s total information system needs, besides we also need to the details information for our fixed asset. 2. Inform the information system department about the needs of our system and the changes required for us to implement the new asset management system. 3. Determine which project should be undertaken by organization in the outcome of project identification and selection process. 4. Develop baseline project report to customize the standardized SDLC and the specifics the scope, time, expertise and resource needed for execution of project. 5. Do a feasibility assessment to assess the likelihood that organization’s information system capable to solve the problem or grip the opportunity and whether the cost of developing system is outweigh the benefit it could be given. 6. Planning work paper approved by Managing Director, Mr Lim Xian Zhen. Start a project team meeting. Sales system A sales process is a systematic approach to selling a product or service. Sales system improves the speed and accuracy of operation...
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...Operations Management Group L51 Subject : Inventory Management Project Subject List Part I Pages 1) Introduction 3 2) The Meaning Of Inventory Management 3 3) The Importance Of Inventory Management 3 , 4 , 5 4) How Does Wal-Mart Manage Their Inventory 5 , 6 , 7 5) Conclusion 7 , 8 Part II Pages 1) Networked Inventory Management Information Systems ( Emerald ) 9 , 10 2) Zero Inventory And Firm Performance (Taylor & Francis) 10 , 11 3) Managing Inventories In The Machine Building Industry (science direct ) 11 Introduction: Part I In any business or organization, all functions are interlinked and connected to each other and are often overlapping. Some key aspects like supply chain management, logistics and inventory form the backbone of the business delivery function. Therefore these functions are extremely important to marketing managers as well as finance controllers. Every organization constantly strives to maintain optimum inventory to be able to meet its requirements and avoid over or under inventory that can impact the financial figures. Inventory is always dynamic. Inventory management requires constant and careful evaluation of external and internal factors and control through planning and review. Most of the organizations have a separate department or job function called inventory planners who...
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...MAKERERE UNIVERSITY MAKERERE UNIVERSITY BUSINESS SCHOOL FACULTY OF MARKETING AND INTERNATONAL BUSINESS IMPACT OF INVENTORY MANAGEMENT AND PROFITABILITY OF A COMPANY A CASE OF KK FOODS EXPOTORS LIMITED AMANYA AMOS 12/U/15971/EVE SUPRRVISED BY ATUGONZA FAITH A RESEARCH REPORT SUBMITTED TO MAKERERE UNIVERSITY BUSINESS SCHOOL IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE OF BACHELOR OF INTERNATIONAL BUSINESS OF MAKERERE UNIVERSITY APRIL, 2015 DECLARATION I declare that this research report is my original work compiled from my personal exposure in the stated fields and never previously submitted by anyone to any other university or institution for any award. Signature..…………………………… Date……………………………… AMANYA AMOS 12/U/15971/EVE APPROVAL This research report by Amanya Amos has been submitted for examination with my approval as her academic supervisor. Signature..………………………… Date……………………………… ATUGONZA FAITH (ACADEMIC SUPERVISOR) DEDICATION This work is dedicated to all my family members who have worked so hard to educate me. My the lord bless them ACKNOWLEGMENT To begin with, I thank the Lord Almighty for having blessed me with all that I have always needed in my life, and seeing me through up to this level that I have reached. I owe special thanks to KK Foods Exporters limited to be attached to their organization. I really have to owe special thanks to my mother Mrs.Baguma Beatrice, my sisters patience Penelope and Kobusinge...
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