...would like to upgrade to an automated system that is on the low end of the expensive level. Being that I have technological skills and experience within the field, I agreed to help her purchase and installed a low budget automated inventory management system. I also took the time to explain to her how the system works. Inventory management is a database of hardware and software based tools that automate the process of tracking inventory. The kinds of inventory tracked with an inventory control system can include almost any type of quantifiable good, including food, clothing, books, equipment, and any other item that consumers, retailers, or wholesalers may purchase (inventory control system). This automated system is able to track merchandise, while altering when inventory is low, seasonal demands change, and communicating with suppliers in real-time. In addition the system can reduce the cost and time-consuming processes that were once completed by her manually, while providing her business with more accurate data. In addition, the system helps save time, keep a balanced inventory, and tracks inventory stock efficiently (Loackard). In order to establish an inventory management system there are necessary equipment that must be purchased. Due to the low availability of monetary funds, I would purchase the following; one laptop, wireless router, barcode scanner, barcode printer, barcode software, a printer, Internet service, and inventory software. An extra hard drive for backup/recovery...
Words: 1058 - Pages: 5
...Inventory Management Systems Inventory Management Systems Background: The client, my sister, owns a small clothing store. The store is not web-based; its customers are locals. There are three employees, a computer with Windows 7 Professional operating system, internet access, cash drawer and an inventory of over two hundreds clothing in stock. Client has been manually performing inventory and was frustrated at having to manually track and reorder high demand items. Objectives: To develop an inventory management system that will automatically perform inventory and track high demand items. Client’s budget is $3000 and at the moment she does not have any plan for expansion to internet commerce. There are five key components in information system: hardware, software, data, processes and personnel (Shelly & Rosenblatt, 2012). Hardware includes computer, monitor, printer, modem, cables, cash drawer, scanner, barcode maker, and barcode label. For a small budget I would not recommend networking, however, if future expansion is planned then it is better to set up network as soon as possible. Computer will be the central storage for data and software used for the system. Monitor, printer, modem and cables are input/output devices for the computer. Scanner or scanners are necessary for performing inventory which is automatically entered to the computer. Barcode maker and barcode label are for the clothing items. Software will include an operating system such as...
Words: 773 - Pages: 4
...on computerized inventory management systems. Automated systems can replace the cost and time consuming processes that were once completed by hand while providing companies with more accurate data. Inventory control is important to ensure control in businesses that handle transactions revolving around consumer goods. Without proper inventory control, a store may run out of stock on an important item. A good inventory control system will alert the retailer when it is time to reorder (www.barcodesinc.com). It will also aid in the prevention of theft and product loss. Overall, a good inventory system will increase the value of your business, satisfy your customers and create more freedom in your life. In this paper, I will describe all the necessary equipment for a low-cost automated inventory system for a small clothing store. I will also explain the costs involved in the creation of the system, describe the ongoing maintenance that will be required and provide a workflow diagram to illustrate how the system will work. An inventory control system that I feel best provides the need of a small clothing store consists of a PC (laptop), backup/recovery and archive device, wireless router, inventory control software, mobile scanning device, and barcode printer. The system shall provide versatility and reliable performance application demands. This system will make tracking inventory simple and intuitive. This system will allow for flexibility to scan and track inventory away from the...
Words: 973 - Pages: 4
...Inventory Management Systems Inventory Management Systems In the past inventories where done manually. An innovative business owner today will use an automated system to keep track of their inventory. This system would keep track of the products that support the business mission. “Before the Industrial Revolution, merchants basically had to write down all of the products they sold every day (Inventory Systems Blog, R. Lockard, 2012).” Automated inventory management systems would be advantageous to both the business owner and their customers. For the business the products can be monitored for their types, quantity, price, availability, cost, and trends. For the customer, reliability of the business to provide the latest trends, stock on hand, and price. In order to help my sister in creating an automated inventory system, converting from her manual inventory to an automated system on a small budget, would be to create a plan to identify what is needed. “Cost justification is the process of determining the return on a productivity investment. The savings are measured and evaluated relative to the cost of the system, in present value terms (Systems ID Warehouse, 2006).” The first would be to identify all aspects of the project for instance creating a list of the equipment, maintenance, and cost. Below is a spreadsheet identifying each item by name, cost, quantity, and total. Project Estimated Cost | | | | | | | Hardware | Item Name | Cost | Quantity...
Words: 2215 - Pages: 9
...INVENTORY MANAGEMENT SYSTEMS Joshua Crisp Prof. Raman Marwah CIS210 10 October, 2012 Manually tracking items in a store can be a waste of time and money. Most small businesses today use some type of automated inventory system that automatically updates inventory after point of sale (POS). This is especially important on high demand items that need to be reordered in a timely matter. First we need to look at the equipment, cost, and maintenance involved in adding an automated business system to the store. The vendor I choose was Wasp Barcode Technology Systems. EQUIPMENT First, we will look at the equipment necessary to implement a new inventory management system. To keep it simple we will need: * Software * UPC barcode printer * Labels * Scanner The software will tie into the POS system and automatically track sales, returns, and inventory levels. The software I suggest will alert you when inventory levels are low and need to be reordered. Every product will have a barcode that tells the software an item has been removed from the inventory or added to the inventory. Initially we will have to load the software with data about what products are associated with each barcode and print the barcodes to attach to the products. The scanner will be used to tell the software what items are being purchased or inventoried. COST After identifying what equipment we will use we can see how much the equipment and implementation will cost. * People-...
Words: 602 - Pages: 3
...DESIGNING AN INVENTORY SYSTEM WEEK 2 – ASSIGNMENT 1 INVENTORY MANAGEMENT SYSTEMS Designing an effective inventory system for a small business can have a rewarding effect on a business with proper planning and implementation to provide employees and management a way to manage inventory. Having a proper plan in place it will save the company money, time, and provide a balances way of having stock available for customer. Assigning product code numbers on clothing merchandise upon delivery from vendors allow the item to be accounted for and to re-ordered the item and ensure that it will always be in stock and not create overstock that hurts company profit. Not meeting customer demands for a product by not keeping it in stock lessens the chance of repeat customers. There are a few disadvantages to having an automated inventory system such as human error due to inventory not being logged properly, software issues such as power outages, and software errors. Viruses and hacking can be an issue as well. Providing a backup of the inventory is a great way to ensure no total loss of inventory information. Policy and Procedures will need to be developed for employees and management to ensure everyone is being consistent with documenting inventory and to reduce errors. A case study done on the Herman Goelitz Candy Co. showed the difference having an automated inventory system had on the operations of the company. By utilizing this time of inventory control it gave them greater control...
Words: 1083 - Pages: 5
...Inventory Management Systems Sean Reynolds Ali Shaykhian, Ph,D CIS 210 10/20/12 Automated inventory systems play a large role in today’s businesses, especially the retail industry. This is because businesses want the ability to access and organize data in a quick and efficient manner. With an automated inventory system, businesses can rely on computers to do tasks that were once performed manually, such as inventory checks and product sales. These tasks can be very overwhelming for businesses to do manually because of their size, number of stores, and their product diversity. This can all be changed, though. With automated inventory systems these processes can be handled in a timelier manner and also be more accurate and reliable than ever before. Since I would have had this conversation with a family member at dinner time I would more than likely have to have a further conversation later about what they would want as far as a system is concerned and what the budget was since there are a few ideas that come to mind about systems like that. I would have to ask them what they want to achieve with having the automated inventory system. I would also have to figure out what their budget is for it as there are different levels of systems depending on the budget of the company. The budget would have to include buying the system itself as well as the maintenance of the system. One of the things that would be needed in the inventory management system...
Words: 1332 - Pages: 6
...Inventory Management Systems CIS 210 Nathan Heil 10/17/14 Prof. Kurt Brandquist In a changing and growing market, many businesses are turning toward automated systems to perform not just inventory, but many tasks that are in their everyday routine. Automated systems can replace the cost and time consuming processes that were once completed by hand while providing companies with more accurate data. This system is used to track the merchandise and goods of retail stores, grocery stores, hardware stores, etc. In this paper I will discuss the background of automated inventory systems, including what they are, how they work and what type of data and what goes into the implementation of such a system. Automated inventory systems play a large role in today’s businesses, especially the retail industry. This is because businesses want the ability to access and organize data in a quick and efficient manner. With an automated inventory system, businesses can rely on computers to do tasks that were once performed manually, such as inventory checks and product sales. These tasks can be very overwhelming for businesses to do manually because of their size, number of stores, and their product diversity. This can all be changed, though. With automated inventory systems these processes can be handled in a timelier manner and also be more accurate and reliable than ever before. Automated Inventory Systems are specialized software that allows businesses to input their inventory...
Words: 1373 - Pages: 6
...For an automated system she will need various types of equipment that will fit her daily needs. It will also provide her with the ease of tracking certain pertinent information needed for her merchandise. This could assist her in accessing the information in a quick and efficient manner with the use of computers. Therefore, the first piece of equipment that will be necessary for her to complete her inventory tasks is a computer. She could use this to keep track of all the information. The information that will be needed stored in a computer where it can be assessed anytime it is needed in real time. Using this automated system could help with most of the daily tasks that were completed manually. This also may decrease the chances of errors and may be more accurate and reliable. The product sales can be analyzed in real time and that’s important especially in the retail environment. She has to be sure what items are selling and which items aren’t. Doing inventory manually usually only occurs certain time through the year. Companies usually have to extend their hours to make sure they complete this task. This can leave openings for over and under stocking. With the automated software they can make more accurate sales predictions for the future. The software is also available to tell you when a specific item needs to be ordered again. There are also many inventory software that would send the order to the supplier once a item reaches it lowest point. They will be able to detect...
Words: 408 - Pages: 2
...INVENTORY MANAGEMENT SYSTEM Project title: Sales and Inventory System INTRODUCTION: INVENTORY MANAGEMENT SYSTEM is developed for the partial fulfillment of the Bachelor of Science in Computer Science degree. It is a software application maintaining the records related to all the transactions occurring at the counter of a shop. PROJECT PURPOSE: INVENTORY MANAGEMENT SYSTEM is a software application maintaining the records related to purchase, sales, returns, stock updations, cash and bank flows and the reorder level of a shop. Objective: The “Sales and Inventory System “objective is to manage a shop and its marketing which is a very huge task. Through the considerable amount of time used by the automated system, the end users day to day job of managing the shop will be reduced. The system will take care of all the customers in a quick time.The users will consume less amount of time when compared to manual paper work through the automated system. The system will take care of all the sales activities done in a shop. Data storing is easier. Paper work will be reduced and the user spends more time on monitoring the progress .The system is user friendly and easy to use. All the important data’s will be stored in the database and it avoids any miscalculation. Scope: This system is helpful to computerise the scheduled events and also very helpful in calculating the bill without any miscalculation. The reports can be checked depending on month/year. PROJECT CATEGORY: ...
Words: 785 - Pages: 4
...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...
Words: 988 - Pages: 4
...Assignment 1: Inventory Management Systems Systems Analysis and Development April 18, 2014 My sister owns a small clothing store. During a conversation at a family dinner, she mentioned her frustration with having to manually track and reorder high demand items. She would like an automated system but has a very small budget. Manually tracking orders is not an effective way to do business. A good example would be if you were tracking inventory using EXCEL you could accidentally delete the file, or a virus could destroy your system. Pen and paper tracking is absolutely not efficient, and it leaves a lot of room for human error. The purpose of inventory management is to provide uninterrupted production, sales, and/or customer service levels at the minimum cost. Since for many companies inventory is the largest item in the current assets category, inventory problems can and do contribute to losses or even business failures (What is inventory management, n.d.). Inventory control is important for the largest companies, but it is equally important for the smallest businesses as well. For instance, my sister’s small clothing store needs to be able to track its best-selling items along with its slow moving items. It needs to keep a higher on-hand count of the best-selling items, so that customers will not be disappointed if the item that they are looking for is not in-stock. A good inventory system creates efficiency and increases profits. My sister’s budget is very limited. So...
Words: 1013 - Pages: 5
...high demand items. She would like an automated system but has a very small budget. Manually tracking orders is not a good way to do business. A good example would be if you were tracking inventory using EXCEL you could accidentally delete the file, or a virus could destroy your system. Pen and paper tracking is not efficient, and it leaves a lot of room for human error. The purpose of inventory management is to provide uninterrupted production, sales, and customer service levels at the minimum cost. Since for many companies’ inventory is the largest item in the current assets category, inventory problems can and do contribute to losses or even business failures. What is inventory management? Inventory control is important for the largest companies, and it is equally important for the smallest businesses as well. For example, my sister’s small clothing store needs to be able to track its best-selling items along with its slow moving items. It needs to keep a higher on-hand count of the best-selling items, so that customers will not be upset if the item that they are looking for is not in-stock. A good inventory system creates efficiency and increases profits. My sister’s budget is very limited. So, I am going to build the most effective system that I can for the least amount of money. Sister's main issue is tracking and reordering high demand items. Her requirements are having automatic inventory system with small budget and the system must provide her capabilities of tracking and...
Words: 592 - Pages: 3
...17 Pushkina St, Ussuriysk, Russia 6925191 Dear Mr. Alexey Morgunov: Enclosed is a copy of an Inventory Management System proposal that I completed during the fall of last year upon a request that was made to me by the IT Department Board. The main objective of the proposal was to analyze the operations of the Inventory Management system that is currently in use and come up with some its weaknesses and strengths. An integration of both would then enable the department to come up with a conclusion of a completely different system that would cover up for the shortcomings of the current system and add more value to its strengths. According to the proposal approved by the IT management Board, the proposed system would take at least three months to complete before implementation is done. The whole project would cost $1,500,000 to complete and implement. Some of the limitations as per the proposal included lack of enough capacity within the current PCs in use to accommodate the new system and so an upgrade to all the PCs was suggested. The user level of information was also to be upgraded to enable them use the new system effectively. The purpose of this letter is to request your office to consider the viability of this project in terms of cost effectiveness and achievement of desired results that would scale the company to higher heights in profit making. The IT Management Board is then supposed to proceed as necessary based upon the recommendations of your office. Thanks...
Words: 4132 - Pages: 17
...Implementing Automated Inventory Management Systems at Al-Baldani Trading Contracting Establishment. (BBA-604) Synopsis submitted by: Arifa Jamil Syed BBA (General) 541110506 Table of Content Executive Summary 3 Part 1: Understanding the industry & company 4 Part 2: Introduction 6 Objective 6 Methodology 7 Conclusion 8 5. Recommendation 8 Part 3: 1. Appendix 9 (Part 1) EXECUTIVE SUMMARY The goal of this project is to apply systems based engineering...
Words: 1447 - Pages: 6
