Inventory Management System Chapter

The word 'Inventory' can refer to both the total amount of goods and the act of counting them. Many companies take an inventory of their supplies on a regular basis in order to avoid running out of popular items. Others take an inventory to insure the number of items ordered matches the actual number of items counted physically. Shortages or overages after an inventory can indicate a problem with theft (called 'shrinkage' in retail circles) inaccurate accounting practices. (http://www. Weeklies. Com/what-is-inventory. HTML) Keeping records and inventory numbers by paper are a thing of the past.

With doing that you can't have up to date accurate numbers and by not having up to date accurate numbers It can make your day a little InventoryManagementSystem of Rowan's ART 2 more challenging than It normally should be. Everything is about the now and with the now, comes with a new technology. We all know that paper records are not anything new; it is an old habit that needs to be broken.

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How can we break this habit, is that there are plenty of ways to break this habit and that is updating an old inventory system with a new technology.

By replacing the old paper inventory sheets with the imputer kiosks and tablets in all the shipping and manufacturing departments. (http://www. Oho. Com/info_7954427_inventiveness's. HTML) Inventory management is the active control program which allows the management of sales, purchases and payments. Inventory management software helps create invoices, purchase orders, receiving lists, payment receipts and can print bar coded labels.

An inventory management software system conferred to your warehouse, retail or product line will help to create revenue for your company.

The Inventory Management understanding. Information, will we control are inventory your source costs software provide better tools. (http://environmentalist. Com/) These days a computerized inventory system is the most likely to be used by medium and large businesses although some small businesses may also use this. This can be used to keep a track of 3 customer orders, monitor the stock a business has available for fulfilling orders and also provide details of when inventory needs to be restocked. Modularized inventory systems make it possible to integrate the various functional subsystems that are a part of the inventory management into a single cohesive system. In the year 1987, Rowan's ART started as a canteen and named as Rowan's Canteen which is owned and managed by Mr.. And Mrs.. Toto O. Actuating. As the year goes by, in 1989 they totally changed their kind of business as a ready to wear (ART) retailer. There starting capital is about PH 6,000. 00 and starts to gain sales through the years.

In 2007, they decided to expand their store because of continuing started inventing them in a manual process, in this process; they are having a hard time in maintaining the number of their products. Some number of products does to match at their logbook, as a solution, they need a computer that can help to automate their inventory and to lessen their time in inspecting and calculating the number of their products. In this case, the researchers wanted to help in ART business to give a system that can benefit their store in terms of inventory management.

The researchers also aims to improve the service process for the security and convenience of the user and for the store as well. 4 Theoretical Framework of the Study The ISO 1 5489:2001 standard defines records management as "The Field of management responsible for the efficient and systematic control of the reaction, receipt, maintenance, use and disposition of records, including the processes for capturing and maintaining evidence of and information about business activities and transactions in the form of records".

The ISO defines record as "information created, received and maintained as evidence and information by an organization or person, in pursuance of legal obligations or in the transaction of business". Conceptual Framework of the Study Driven by competitive pressures, companies employing inventory system for a variety of purposes. Its main advantage is to increase revenues optimal customer ratter management. Inventory system strengthens the operational core of a business by reducing the amount of loss and instability.

Hence inventory system has been playing a role of bridge between businesses and end customers in a most effective manner. (Neat, 2010) Figure 1 shows the paradigm of Inventory Management System for Rowan's ART that processes the data record in order to produce the data record meaningful output. Input will come from the employee from where information of products is listed. The process is done through the system, which is the Inventory Management System for Rowan's ART. 5 The system will process different form of ordered products that would benefit the store.

Input Process Sales and Management System of Rowan's Ready to Wear Business Product Description and Information Supplier Information Ordered Products Customer Information Stock-on-hand Efficient System Figure 1 . Paradigm of the Study Statement of the Problem The main objective of the developed study was to develop and implement an Inventory Management System that will generate fast and efficient operations and services of Rowan's ART. Specifically, the study would give clear solutions on the following problems: . What was the existing system being used in processing Inventory Products of Rowan's ART? . What were the problems encountered in managing and processing inventory products? 6 3. What were the features of the developed system? 4. What security measures will be needed on the developed system? 5. What were the benefits of the developed inventory system if once implemented? Objective of the Study The general objective of the study was to develop an Inventory Management System for Rowan's ART to generate efficient operations and services of Rowan's ART. 1 . To identify the existing system in processing inventory products of Rowan's ART. 2.

To list down the problems usually encountered in managing and processing inventory products. 3. To enumerate the features of the developed system. 4. To determine the security measures implementation of the developed system. 5. To identify the benefits of the Inventory Management System for Rowan's ART. 7 Scope and Delimitation Since Rowan's ART used manual system to record the list of garments and to organize their products, the researchers believed that the store needs to have an automated inventory management system. The researchers therefore developed an inventory management system to replace the manual system of the store.

The developed inventory management system would lessen the time and effort of the user in recording data and it is user-friendly. It can also access the products faster and can generate reports easily. The developed inventory management system will promote the importance of computer technology and will improve the quality of the service of the products that will benefit the store's needs. The developed system will also provide a password to secure the records from unauthorized users. Significance of the Study To the ART Business Community.

They would realize that computerizing of system into application that will improve accurate number of products instead of their expenses and sooner the ART community will soon accept other advantages of computer technology with confidence. To Rowan's ART. The system would provide instant information about all inventory items. Since they are the one who will manage the 8 supplies, they can easily track or manage the supplies and they can generate reports faster and reliable. The system also provides up-to-date information about garments. It will improve the quality of the services that will benefit every customer's needs.

It can also generate reports easily. They can easily monitor the incoming and the outgoing supplies. The proposed system will also provide a password to secure the records from unauthorized users. To the users. The in-charge of the store, filing of records will become easy and To the researchers. It will improve their logic and skills in computer programming, and gain better recognition and position in the field of Computer Science. To the future researchers. It will open another gate of discovery, experiment and duty in the field of computer science, and it will serve as a guide and reference for their study.

The operation of the developed system is limited to authorize personnel only. The authorized personnel are consists of the owner and the staff. The developed system is not accessible to unauthorized person because it is provided with a surname and a password, which is known to the authorized personnel. Having the needed skills of personnel who will be using the system is very much 9 important for them to improve their business, improve the method of generating reports and make monitoring of stocks easier. Implementing the developed system will give economical benefit to the business.