Premium Essay

Inventory System

In: Computers and Technology

Submitted By Jhai03
Words 1212
Pages 5
Introduction
An inventory system is basically a process whereby a business keeps track of the goods and material it has available. In its simplest sense it can be done manually by a count at the end of each day. In this way it is possible to keep a record of the goods coming in to the business and goods being sold. However this is only really appropriate for small businesses that do not have a lot of stock. For larger business it is more likely that a computerized system will be required. Transaction processing systems are commonly used to operate businesses. In this era, manual transactions evolved into computerized ones. Manual inventory systems turned out to be slow and inaccurate resulting to problems like running out of stocks and slow computations of product prices being bought by the customers. The degree of success of a business greatly depends upon controlling the merchandise inventory. The continuously improving and upgrading of computer usage into more powerful and useful applications has made managing business transactions a lot more efficient and easier. Today, businesses use the computer to assist in controlling and monitoring many aspects of the businesses, since manual approach in data processing could no longer meet the demands of increasing volume of transactions.

Background of the Study
Inventory is the term used for compiled list of goods. Inventory is important process in effective management of a business. The Company named Fast Services Corporation, as of now they do not have a new technology, they manually check and record of the products. The Fast Services Corporation using manual method in checking, finding and counting their products. As a result, they encountered unexpected problems like loss of stocks and having difficulties in counting products which consumes a lot of time. As the proponents conducted their research and analyze

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