Since you've likely got computers in your business anyway, it makes sense to maximize the value you get from them.
One way to do that is by computerizing your inventory system.
Perpetual Inventory Systems Broadly speaking, there are two ways to manage your inventory. This method benefits from computerization in a number of ways, although if your business is small enough, you can keep it entirely "old school" by using pens and paper.
This type of system keeps track of your sales and orders in real time, updating your inventory count with every transaction.
One of the greatest advantages of a computerized inventory system is that it makes for faster, more accurate counting. Scanning barcodes or QR codes is faster and easier than writing down stock numbers manually or flipping through pages of inventory sheets, looking for the correct item.
Better Receiving and Shipping Computerized inventory systems make shipping and receiving orders simpler as well, and leave less room for error. In much the same way, when you send out an order to your customers, you can scan each item out of inventory.
In retail, of course, your cashiers do the same thing as they swipe or scan each item sold. There are a number of potential reasons for that, with shoplifting and employee theft leading the list. Your own in-house administrative errors and vendor fraud are significant factors too.
According to figures from a National Retail Federation survey, they account for a combined total of more than 26 percent of shrinkage, which can add up to real money. By reducing opportunities for errors in your counting, shipping and receiving processes, computerized inventory systems can help bring that number down.
Better Inventory Management If you use a periodic inventory system, your book inventory count will usually be outdated by the time your accountant finishes updating the data.
That can represent a real cost saving. Real-Time Management Information One of the crucial advantages of a computerized perpetual inventory system is that it gives you the management information you need in real time. That goes beyond current sales figures and inventory levels, to the heart of your operations.
Consider your cost of goods sold COGSfor example. In between, you work from a cost flow assumption, which amounts to little more than a "best guess.You can use a computerized inventory system to manage your counting and record-keeping, or invest in a full blown perpetual inventory system that adds and subtracts product in real time as it goes.
The proposed system will help the company to make the Background of the study It has been disclosed during the interview that Mercury Drug Store – Balagtas Town Center Branch needs a computerized inventory system. A Study of Computerized Sales and Inventory System for Nelson & Lily Store with barcode Introduction Information System (IS) is processing of information received and transmitted to produce an efficient and effective process.
• To develop inventory module that will monitor the inventory of products. • To develop a module that will generate reports.
A Study of Computerized Sales and Inventory System for Nelson & Lily Store with barcode Introduction Information System (IS) is processing of information received and transmitted to produce an efficient and effective process.
Background of the Study An inventory system is a method of immediately accounting for inventory sales in the inventory account, if there is no item missing.
It is an inventory management system where store balances of inventory are recorded after every transaction. computerized inventory control, and computerized checkout forming a system study of a partially computerized grocery store, it is desirable to examine the application by dis-cussing some of the effects it will have.
There are many degrees of computer control - from sim- A system study of a computerized grocery store.