Free Essay

Inventory System

In:

Submitted By marklys005
Words 2743
Pages 11
CHAPTER I
PROJECT BACKGROUND

1.1 INTRODUCTION During early years, stereo type approach was used such as logbooks, shortlists and even journals. Collecting data and retrieval was a bit difficult to due to manual operation without the aid of an electronic processing program. With modern programming, it will make logging; retrieving and saving are possible in just a snitch. All data will be registered and save electronically and manual basis and will be an alternative solution for black and white paper works. On this, readers as well students in the same field of interest will gain information about data system management and its purpose in making clerical work possible without extending much effort and also by using such system will enables the user/users to monitor establishments operation. No longer hours of paper work, have any more ribbons to change, simply a small technical known on how to operate a computer can make a difference in a fast growing trend of businesses as well taking the benefits of programming as a whole. Computers enable the efficient processing and storage of information. As of now many company use computer to make their works faster and lessen the unnecessary time they spend working towards something that they can be done using computer unlike in file processing system every transaction take a lot of time and give bounty of works resulting to waste of time and human energy. It’s not an easy task to manage a business you need to focus to plan and to control your business especially if you are using computation process. It takes time to compute their payments and their balances compare to computer.
This is the project is intended to help the user for their inventory system, to perform easier and faster process for information school items to be record. Details are gathered through the conducted interview with the school faculties to know about the contents they want to feature in the system. We imagine many of the potential benefits and often want to use the new technology at once. The optimist within us dreams about how the innovation can make our lives more meaningful, easier, or just more enjoyable.
[2]The manual data management has been a way of life for people a long time ago. Recording information using log books can be very time-consuming, redundant record and inefficient not to mention unsafe. Nowadays, computer based inventory system plays a vital role in making companies competitive and productive. It helps people lead a healthier and more enjoyable life because of its fast and effective approach.
Our project here is to create a bespoke database system to manage the main business process of Mercedes high school for the system entitled (“Mercedes High Schools Computer-Based Laboratory System”) As well as managing the day to day tasks and User-friendly relationship. It can also generate needed management and financial reports of the business.
This Proposed Mercedes High School Computer Based Laboratory System made because it wants to reduce or lessen the time consuming effort of the teachers in recording their items and to warning the faculties that their items are empty or less and need to buy an item for their courses. In this system they are two file options first is file option is MODE file that supports the budget and item of the school that is used in their curriculum and it has a 2 parts the tool for entering the item that is used in curriculums for example is electrical wiring and installation, electronics, food processing, fisheries and hardware servicing. The other is materials that used in schools supplies need by the students. The second file option is Tech Book File that support by the national budget and the parts is the same in MODE file.
This Proposed Transaction System helps the teacher for checking the items that they need for their courses and to less their work and for free from errors.
A technology advances are a biggest help, to the school uses modern methods of data management. In this study makes more efficient and good quality services to secure the file handling of the clients. They would make an easy stored of information of all items using by the Computer Based Laboratory System. May implies to offers secured databases that would impede unauthorized access to the system and secure the file handling of the clients to minimize the redundancy.
The information of all items came from schools budget and government budget produced will be fairly standard tabular reports. And also all reports will be access through MODE file or Tech Book File option, which gives a common interface for the user.

1.2 PROJECT CONTEXT [2]This project is all about the point of inventory system in Mercedes High School. This system will help there employee lessen their work and reduce the time consume. It also avoids in error that manual system has. A Mercedes High School is using manual system. This is the reason why researcher had come up to an idea of proposing a system entitled “Mercedes High School Computer Based Laboratory System” A school of Mercedes High School near at Mercedes cock pit provide a good service in teaching students and has a good courses for the Senior High Schools. Their Mission is to lessen their works and service to inventorying items in their storage. Through series of methods of data gathering such as survey, Interview and researching through the use of web. The researchers were able to gather enough information that has been used in the study. The proposed system has only one user the admin accessible only by the staff in charge. The system will keep a record of the stocks that are available in the store.
Therefore while process a system will gather data and store for the remaining items in the MOOE file and Other File management. In this section it explains who will interact with the said proposed system. And how the users communicate with the system, what information the system needs to the users and what information they need from the system and what other devices will interact with the system.

Figure1.1 Project Methodology (SDLC)
The project development methodology that we used is the Waterfall System Development Methodology; it is related activities organized into phases of SDLC. The flow of the methodology encompasses a specific phase shown below:
a. Planning
In this phase we involve formulation of one or more detailed plans to achieved optimum balance of needs or demands with the available resources. Regarding the current system, also for the next expected system to be developed. This is also the part where scope, objectives and the goals for the proposed system are formed.
b. Analysis
For the analysis, we examine and evaluate some data and information, by breaking it into its component parts to uncover their interrelationships and we evaluate how the process manage the data. We observed and analyzed the problems of the establishment forming the specific and general objectives which will become the basis for the system development.
c. Design
This is the phase where a database design is formed. It is a guide to show the flow of the system. We used the entity relationship diagram (ERD) which describes and explains the process of managing the data by the system. The relationship between each table shows the path where the flow goes. The kind of database design we used for the system is the top-down approach because this process involves the identification of different entity types.
The users will have a big role for more precise and organized entity type identification. They will extract from a detailed description that will properly describe the entities, attributes, relationships and constraints.
d. Implementation
In this phase where the system will be loaded, further enhancements are also made to make sure the system is fully functional before the testing.
e. Testing
After loading the system, it is ready for a test performance. In this phase, the system will be test and evaluate being made to ensure the stability and integrity of the system. It will determine whether changes to the system itself are needed.
f. Evaluation And Maintenance
This is the last stage of the methodology. In this stage, the system developer will have a periodic routine and maintenance which is required for the system back-up and recoveries. This could also enhance the system if it encounters some difficulties and errors.

The Documentation Plan shown below; these projects provide a computerized system that will help them lessen their operations. It will be create a step by step task, estimated cost and time durations of the processing of the preceding topics of each chapter. Every task in table is important performed effectively for the reliable estimated plans of the system or business transactions of these operations. Because the advantages of this documentation plan is to manage time and scheduling, if when the task estimated time will done by the separate time for every task of each researchers.
Table1.
The Table 1 describe the task of the project background, the introduction and project context must be assign the person in charge, to interview the principal of the said school. This part has an estimated cost for the transportation, research and printed for the submitted documentation chapter1.
Table2.
The table 2 is divided into 5 parts, the existing system which is composed of Existing System, Business Analysis, Proposed System, Project plan, Scope, Expected Output, Stakeholders Transaction, System Objectives, Advantages and Disadvantages, Resources Required, Project and Operational Cost, System Design, Transaction Sequence Model, Conceptual Design, the second part which composed a 4 or 5 Diagram which is Entity Relationship Diagram, Context Flow Diagram, Data Flow Diagram, Database Normalization, Data Dictionary. The other parts are System Operations Architecture, System Development, Implementation Plan and Maintenance Plan.

Table3.
The table 3 there are 3 parts which is Summary, Conclusion and Recommendation. Every table the person in charge discussed and analyzed all data they gathered according to their topic.

In order for us to come up with the system, there are technologies that will be used in the system development such as:

 Hardware Technologies
 PC (Desktop / Laptop )
 Printer

 Software Technologies
 Operating System( windows 7)
 Microsoft Office 2007-2010
 Microsoft Visio 2007-2010
 Internet Browser
 Visual. Studio 2008

1.3 PURPOSE AND DESCRIPTION 1.3.1 PURPOSE
The purpose of this system is to help the Mercedes High School to lessen their works and time to their works. This system is all about collecting datas of the itmes received by the school came from the budget of the school or came from the budget of the government that gave to the school of Mercedes. It is focuses of the technological development of the system. It also much better to be used for minimize of the time consuming, human error, unsafe file handling, and redundant record.
1.3.2 DESCRIPTION
This proposed Mercedes High School Computer Based Laboratory System is to is to reduce or lessen the time consuming effort of the teachers in recording their items and to warning the faculties that their items are empty or less and need to buy an item for their courses. In the system they are two file options first is file option is MODE file that supports the budget and item of the school that is used in their curriculum and it has a 2 parts the tool for entering the item that is used in curriculums for example is electrical wiring and installation, electronics, food processing, fisheries and hardware servicing. The other is materials that used in schools supplies need by the students. The second file option is Tech Book File that support by the national budget and the parts is the same in MODE file.
This Proposed Transaction System helps the teacher for checking the items that they need for their courses and to less their work and for free from errors.
:
 User friendly, this database system is very simple, practical and easy to use and in storing and accessing data and information are uncomplicated.
 This could help other programmers to gain more knowledge about creating systems and making any kind of projects relating to database management system.
 It could develop our critical and analytical thinking skills.
 We could use this system as our guide in creating new database systems.
1.4 OBJECTIVES
1.4.1 General Objective
The general objectives on this study are to lessen, make it easier in working for the inventory of the items came from the school and the government. To lessen their time consuming and also to make their manual transaction into computer based system.
.
1.4.2 Specific objectives
The specific objective of this project was based on the data we gathered from our respondents during the interview.
1. To improve their manual transaction into computer based system.
2. To avoid from errors
3. To lessen the works of the user
4. To lessen the time consuming
1.5 SCOPE AND DELIMITATION Mercede High School will be benefited from the study because they will have new point of sale inventory system for their stores. This will help for monitored of every items received came from the government or schools. 1.5.1 SCOPE
[4]The scopes of the study focus on the monitoring of school items such as the papers, pencil, ball pen, and other items that used in there courses or in Technology and Livelihood Education or also known as TLE. It organizes the flows such as the In and Out of the school items, when do the items added to the inventory. Human error such as typographical error, miscount of items, wrong interpretations of the applicant is not a scope of the said study. The scope of an inventory system considers which needs the inventory system addresses.
These include valuing the inventory, measuring the change in inventory and planning for future inventory levels. The value of the inventory at the end of each period provides a basis for financial reporting on the balance sheet. Measuring the change in inventory allows the school to determine the number of inventory items uses or received during the period. The inventory level and changes allow the schools to plan for future inventory needs.
1.5.2 DELIMITATION
This proposed system will do only the following: search, update, delete and add and it has a two file option, the MODE file and the Tech Book file. Other confidential data, files and other records will not be included as settled by the school. Transactions are not included in the system.

1.6 DEFINITION OF TERMS
• Technical Terms
 Database- is an organized collection of facts and information. An organizations database can contain facts and information on employees, inventories, competitors and much more.[5]
 Internet Browser- the software application that lets you access internet.
 Operating System- the essential program in a computer that maintains disk files, runs applications, and handles devices such as the mouse and printer.
 Program- a list of instructions in a programming language that tells a computer to perform a task.

 Software- programs and applications that can be run on a computer system, e.g. word processing or database packages.
 System- an assembly of computer hardware, software, and peripherals functioning together.
 Technology-the study, development, and application of devices, machines, and techniques for manufacturing and productive processes.
• Non-Technical Terms
 Management- the act of handling or controlling something successfully. [7]
 Project- a task or planned program of work that requires a large amount of time, effort, and planning to complete.
 Project Description- the process of giving an account or explanation of the proposed system.

END NOTES:

[1]”Program”. http://en.wikipedia.org/wiki/TechnologyField.Wikipedia. 2009 Ed.02 Aug.2013
[2]Schantel, Lopez A. ET. al. Modern Database Management. 7th Edition 2005: 1-6. Practice Hall. 2009. Print.
[3]”Project Context”. http://en.wikipedia.org/wiki/ Definition/scope. Wikipedia. 2009 Ed.02 Aug.2013
[4]”Scope and Delimitation”. http://en.wikipedia.org/wiki/ Definition/scope. Wikipedia. 2009 Ed.02 Aug.2013
[5]”Database and Graphical User’s Interface”. http://en.wikipedia.org/wiki/ Definition of terms. Wikipedia. 2009 Ed.02 Aug.2013
[6]”Internet”. http://en.wikipedia.org/wiki/ Definition of terms. Wikipedia. 2009 Ed.02 Aug.2013
[7]”Technical Terms”. http://en.wikipedia.org/wiki/Non-Technical terms. Wikipedia. 2009 Ed.02 Aug.2013
[8]”Management”. http://en.wikipedia.org/wiki/Non-Technical terms. Wikipedia. 2009 Ed.02 Aug.2013

Similar Documents

Premium Essay

Inventory System

...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...

Words: 4399 - Pages: 18

Premium Essay

Inventory System

...Inventory System Background of the Study Effective inventory management is an important part of a manager’s job. Managers are tasked to make consistent, reliable, and timely decisions under the challenges of uncertainty, pressure, and lack of information. It is often that managers do not have enough time or information to make a perfect decision but they are forced to solve problems using resources within their control. Effective inventory control requires managers to ensure inventories of the right items in the correct quantities. When an organization overstocks, money is wasted since procuring, storing, and accounting for unneeded items require time, space, and money which could have been used on more critical assets. Likewise, when understocking occurs the organization will more likely to only partly meet their mission or possibly not meet the mission at all. Also, a weak inventory control system is more prone to errors and fraud. Statement of the Problem 1. How can our system generate quality use for the user? 2. Is our proposed system effective in processing needed reports? 3. How can our system guarantee the safety of the information stored? 4. How can our system reduce servile works for the staff involved in the type of field of work? Objectives of the Study This study tries to improve, introduce, and develop the use of inventory system for the ASIA GOLD CORPORATION. The system reduces work for the staff can make inputting of data at easier and faster...

Words: 321 - Pages: 2

Premium Essay

Inventory System

...[pic] Proposal of the software Inventory Control System Today’s competitive environment is forcing companies to optimize the procurement processes and inventory levels while at the same time ensure accuracy of controls and implementation Of standard procedures for the flow of materials. However, in the absence of appropriate systems and information infrastructure, companies are finding it difficult to achieve smooth and efficient Materials planning and execution due to the following information-based limitations. If these reflect your procurement and inventory management limitations as well, then Inventory Control and Valuation System by Core Solutions has the right answers to These critical problems ICVS – providing the right solutions for an efficient materials management. All-inclusive, functionality-rich software, the Inventory Control & Valuation System (ICVS) meets all the requirements for efficient management of inventories and materials procurement function Of small to large scale organizations. ICVS caters to all activities involved in the flow of materials Right from materials requirement determination, generating purchase orders to issue and receipt Of goods. The outcome is reliable maintenance of real-time records for item-wise, location-wise Stock count and its valuation. Issues in management of material flow • Unavailability of real-time and reliable record of inventories. • Manual requirement generation for materials across...

Words: 700 - Pages: 3

Premium Essay

Inventory System

...Background of the Study Effective inventory management is an important part of a manager’s job. Managers are tasked to make consistent, reliable, and timely decisions under the challenges of uncertainty, pressure, and lack of information. It is often that managers do not have enough time or information to make a perfect decision but they are forced to solve problems using resources within their control. Effective inventory control requires managers to ensure inventories of the right items in the correct quantities. When an organization overstocks, money is wasted since procuring, storing, and accounting for unneeded items require time, space, and money which could have been used on more critical assets. Likewise, when understocking occurs the organization will more likely to only partly meet their mission or possibly not meet the mission at all. Also, a weak inventory control system is more prone to errors and fraud. Statement of the Problem 1. How can our system generate quality use for the user? 2. Is our proposed system effective in processing needed reports? 3. How can our system guarantee the safety of the information stored? 4. How can our system reduce servile works for the staff involved in the type of field of work? Objectives of the Study This study tries to improve, introduce, and develop the use of inventory system for the ASIA GOLD CORPORATION. The system reduces work for the staff can make inputting of data at easier and faster generating outputs...

Words: 363 - Pages: 2

Free Essay

Inventory Systems

...Businesses and Inventory Systems Inventory Systems Inventory systems are tracking systems designed for companies to maintain an accurate accountability of products in stock or on hand. Each time items are added or removed from inventory items on hand either decrease or increase in number. This paper will review inventory systems within Starbucks, Wal- Mart, Dell, Arby’s, and Starbucks. The paper will also provide information regarding the success of the inventory systems and if the companies are happy with the current systems. Businesses and Inventory Systems Dell is a leading global software company that manufactures desktop computers, notebook computers, network servers, work stations, and storage products. Dell uses the Just-In Time inventory system. Just-In-Time means a company can receive raw materials just in time to go into production and complete and assemble manufacturing parts just in time to ship to customers (Accounting 4 Management, 2012). The advantages of the Just-In-Time system are that it permits Dell to reduce overhead and have certainty that products are available. The Just –In-Time inventory system reduces the cost of doing business. For example, Dell does not have to spend an enormous amount of funds on the cost of warehouse storage and the customer receives the benefit of lower cost for products. The company has a high satisfaction rating because of their ability to produce products at a fast rate. The challenge includes the possibility...

Words: 1202 - Pages: 5

Premium Essay

Inventory Systems

...Inventory Systems Summary With the increasing demand to cut cost and increase revenues, developing the right inventory systems have become essential to compete in business. According to the Counselors to America’s Small Business, “Control of inventory, which typically represents 45% to 90% of all expenses for business, is needed to ensure that business has the right goods on hand to avoid product shortage and meet the consumer’s needs” (Counselors to America’s Small Business, p. 1). To ensure proper business practice Team A will evaluate four inventory systems and provide advantages and disadvantaged to ensure businesses can be cost-efficient, profitable, and provide for consumer’s needs. At the end of this report, a system will be suggested to meet the above criteria. Adria System Retailers are consistently faced with the challenge of properly managing their inventory to maximize profit for the company. As the second largest retailer in the United States, Target Corporation has implemented successfully an inventory system that works well for their business. Target currently uses the RFID program, also known as the radio frequency identification program. With this program, small tags are attached to each carton or pallet of merchandise delivered to the stores. “Many regard RFID tags as the new barcode to help businesses track and trace goods through the supply chain” (2011). Once the merchandise arrives at the store, the entire carton or pallet is scanned and the inventory...

Words: 1529 - Pages: 7

Premium Essay

Inventory System

... Inventory Valuation Overview Learning Team B Zhra Ghavam, Rochelle Ingram, Chris Staphylaris, and Glorina Tukes QRB/501 31 January 2013 Instructor: David Libhart Inventory Valuation Overview The inventory a company holds often accounts for a significant portion of all assets with a direct correlation to the balance sheet. Inventory includes assets intended for sale, assets in production, and assets that will be used for future production of goods. A company’s ending inventory can be calculated by adding the value of any beginning inventory with net purchases then subtracting the cost of goods sold. The equivalent mathematical representation is: Ending Inventory = Beginning Inventory + Net Purchases - Cost of Goods Sold (Inventory valuation, 2010). While there are numerous industry recognized standards for a valuation of inventory, three of the most common valuation systems include First-In, First-Out – FIFO, Last-In, First-Out – LIFO and Just-In-Time – JIT valuation systems. First-In, First-Out Goods processed or received by an organization are placed in holding as First-In, First-Out; this inventory system is used to track product for use and revenue gained. In the FIFO inventory valuation system, assets or inventory received first are the first ones to be used...

Words: 2902 - Pages: 12

Free Essay

Inventory System

...Shop Inventory System Student No: 081835 : 082232 An Information Systems Project Proposal Submitted to the Faculty of Information Technology in partial fulfillment of the requirements for the award of a Diploma in Business Information Technology Date of Submission: 10th February, 2015 Declaration We declare that this project has not been submitted to any other University for the award of a Diploma in Business Information Technology. Student Signature: Sign: ________________________ Date: ________________________ Sign: ________________________ Date: ________________________ Supervisor’s Signature: Sign: ________________________ Date: ________________________ Abstract In today’s growing market many businesses are turning towards automated systems to perform their everyday tasks. Automated systems have proved to outdate the cost and time wasting processes that are done and completed by manually while providing most businesses with more accurate and reliable data. The system will handle the processes in a well-manner running on a specific time, reducing the overwhelming power of doing them manually taking note of the products diversity. It will allow the business to input their inventory and track products that are delivered and sold on a daily basis. At the time of arrival of new ordered stock, the goods are registered into the database...

Words: 6438 - Pages: 26

Premium Essay

System and Inventory

...customers, since they have been manageing their transactions and producing reports manually and have not manege to upgrade to a computerized system which will be a big improvement to their business operations like most successful business today. 1.2 Overview of the Current State of Technology 1.3 Project Rationale This Computerized Sales and Inventory System for (campany name)will improve their business transaction efficiency with its capability of securely compute, manage, save, back-up, restore and check critical inventory level all their business transaction information. Project Description 2.1 Problem Statement * To create a module that will always monitor the number of their products sold and stored * To create a module that will generate reports * To create a module that will maintain file in a safe storage * To create module that will store data accurately in a secure database 2.2 Proposed Research Project 2.2.1 General Problem * The company encounters problem on ordering of products. They are checking the stocks manually that can result to some confusion and inaccuracy 2.2.2 Specific Problem * The list of products information is only recorded in their logbook. 2.3 Proposed Research Project 2.3.1 General Objectives * To develop a Computerized Sales and Inventory System...

Words: 584 - Pages: 3

Premium Essay

Inventory System

...located in Pulang Lupa, Las Piňas and Marikina. The advent of new technology, most company nowadays is using computers in their transactions. Pharmacies in particular, are now making their systems computerized since that helps them minimize the time and efforts consumed by using manual system. Point-of-Sale Inventory System is one of the essential components of a successful business. It is a modern replacement for cash register in retail applications. It can help to record securely all the sales and customer’s orders and track products. A sale refers to the exchange of product or services for an amount of money or its equivalent while inventory, on the other hand, is the total amount of items and the act of counting them. A pharmacy owner must know the precise number of items in their storage areas in order to place orders and control losses up to date. Hence, computerizing both Sales and Inventory System will make an easier and faster transaction among the customers as well as monitoring the stocks of the products. Furthermore, the system also gives the person up-to-the-minute and detailed information on each item in your inventory. He/she will know exactly how much inventory comes in; is on-hand now, and where it goes. In fact, most entrepreneurs these days find that computerizing a system gives them a far wider range of information with less effort....

Words: 16309 - Pages: 66

Premium Essay

Inventory System

...complete functionality of how the inventory Updation takes place in the Inventory Management System for the products (both online and club) which are purchased from the eCommerce shopping site. Also this document will help you understand how the Inventory Management System is integrated with other applications in order to maintain the inventory level. 2. Overview of IMS: Global Inventory Management System is otherwise called as IMS. IMS is a single resource/entity where the inventory for all kinds of items is maintained/monitored. The different kinds of items available in the eCommerce shopping site are Online, Club and Auctions. The three important terms used in IMS are SUPPLY, DEMAND and AVAILABLE. These are the fields with which the inventory is monitored in IMS applications. SUPPLY – Overall Item Inventory available for purchase DEMAND – Ordered quantity by the customer for an item AVAILABLE – Item inventory available for purchase after the demand Let’s discuss more about these fields and the inventory updates in the following sections 3. Order Creation and Inventory Validation in IMS When an order is placed for an item from eCommerce application, immediately the inventory update happens in both Demand and Available fields in IMS application. When an item is added to shopping cart and on navigating to Shipping page, the item inventory is reserved for the ordered quantity in IMS. For example, let’s consider the item inventory as below before order creation. ...

Words: 1095 - Pages: 5

Free Essay

Inventory System

...No. 1, March 2007, pp. 138-150 Automated Inventory System Using Portable Data Acquisition Module for Bell Electronics Corporation Zarina Ira V. Bernabe Monchie C. Dela Cruz Karen K. Jao Department of Electronics and Communications Engineering De La Salle University, Manila email: ira.bernabe@yahoo.com, chie08_elx@yahoo.com, karenjao@yahoo.com, Jingel A. Tio, Antonio S. Gonzales Jr. Department of Electronics and Communications Engineering De La Salle University, Manila Email: tioj@dlsu.edu.ph, gonzalesa@dlsu.edu.ph Bell Electronics Lab Corporation situated in Calamba, Laguna is engaged in test and assembly of optoelectronics and sensor devices. The company is concentrating on its resources in metal can packaging. The second phase of the company's program is towards the development of other types of optoelectronics and sensors device packaging to support their customer requirements. In this paper, the proponents will present an Automated Inventory System using Portable Data Acquisition (PDA) module to help the company’s growing business. The PDA module is composed of barcode scanner to scan issued and received items, and a Z8F6423 Zilog microcontroller to store the information. A Product Inventory System (PIS) application program is also discussed to show how the PDA module can be interfaced with the PIS. Test results presented in this paper will show apparent improvement of company’s inventory system. 1.0 INTRODUCTION Inventory system is an effective way for monitoring and tracking...

Words: 3213 - Pages: 13

Premium Essay

Inventory Systems

...Inventory Systems and Calculating Revenues, Expenses, and Income Inventory Systems and Calculating Revenues, Expenses, and Income QS 5-8A Contrasting periodic and perpetual systems Identify whether each description best applies to a periodic or a perpetual inventory system. a. Provides more timely information to managers. - Perpetual b. Requires an adjusting entry to record inventory shrinkage – Perpetual c. Markedly increased in frequency and popularity in business within the past decade. - Perpetual d. Records cost of goods sold each time a sales transaction occurs. - Perpetual Cost of goods sold = (Purchases + Beginning inventory – ending inventory) Gross Profit = (Net Sales – COGS) Net Income (Gross Profit – Expenses) a.36000 + 6000 - x = 3405042000 - x = 34050-x = -7950x = 7950 | b.x + 17050 - 2700 = 15900x + 14350 = 15950x = 1600 | c.36000 - x = 3750-x = 3750 - 36000-x = -32250x = 32250 | d.32000 + 7000 - 6600 = x32400 = x | e.5600 + 2560 - x = 56008160 - x = 5600-x = -2560x = 2560 | | | x + 7500 - 9000 = 32250x - 1500 = 32250x = 33750 | x - 32400 = 45600x = 78000 | | Journalize the following merchandising transactions for CSI Systems assuming it uses (a) a periodic inventory system and (b) a perpetual inventory system. 1. On November 1, CSI Systems purchases merchandise for $1,400 on credit with terms of 2_5, n_30, FOB shipping point; invoice dated November 1. n_30, FOB shipping point; invoice dated November 1. 2. On...

Words: 310 - Pages: 2

Premium Essay

Inventory System

...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...

Words: 1212 - Pages: 5

Premium Essay

Inventory System

...THE BASIC INVENTORY SYSTEM The basic inventory problem that the firm is now facing is that Joan Glass is holding minimal stock on hand, evidently proving that she is working with the Lean inventory system. This system is a strategic method which is a credible and desirable system, but on the same note it poses profitable implications of the firm such that if excess stock needed at any given time there is none available due to decreases with in-process inventory levels and associated carrying costs thus causing major problems. With this problem the firm also faces the repercussions of additional costs and problems such as: drastic changes in transport costing; damaged materials; interrupted integration; long lead times; late supplies; unsatisfied customers; inability to build up strong working capital; inaccurate forecasting of present sales and future sales and cost of the firm. Joan is un-able to use other cheaper methods of transportation such as road and ship transportation, due to her taking upon multiple last minute orders, thus resulting in her using the Airfreight method. This method is preferred as its travel times are much quicker than most other transport methods given that she has limited time to supply to customer, with this advantage the major downfall of using this method is that is that it brings about a huge financial loss on the company (Moncka,et al,2009). “Look at these air freight bills! Here’s one for R955—more than the damn part is worth.”(President...

Words: 703 - Pages: 3