Chapter 2 | Related Literature | Sales and Inventory System
This article will show you about Chapter 2 | Related Literature | Sales and Inventory System. The second chapter consists of the background of study that results in the terminologies and design of the evolved system. This chapter discusses the concepts which can beneficial and massive in growing the Sales and Inventory with decision Support System.
Chapter 2 | Related Literature | Sales and Inventory System : Background of the Study
In early 2000’s the company is called Rhine Enterprises, in year 2013 the company suffered from large loss of money due to many customers have not paid their debt, after few months, they managed to redeem all the money they have lost from previous transactions then renamed the company as RV Empire Incorporated in the year 2014.
The RV Empire Incorporated used manual sales and inventory system which sometimes give them the burden on computing and monitoring the acquired and obtained products as well as processing of the transactions. The company’s reports, personal, and transaction records can be easily modified by other personnel because of its poor security.
So as a solution to the stated problem above, a computerized sales and inventory system can reduce their burden and hard times in computing, monitoring and securing their transactions. The computerized system computes sales transaction accurately, and reduced time consumption.
RV Empire Incorporated also encountered problems in monitoring products that leads confusion to the staffs, so the system also provides a module wherein it records not only the transaction but also add the processed during transaction so that the manager can monitor. The data’s that were being listed on notes will be managed by the computerized system for storing so that this will be kept securely.
Chapter 2 | Related Literature | Sales and Inventory System : Related System
This chapter deals with a review of publication and investigation related to the present study that is related to out proposed system. By the use of this study,researchers can easily understand other and develop a more advanced and effective system for the sales and inventory system.
Sales and Inventory System
In accordance to the study of De Alday Espino Ragudo (2010), Computerized Sales and Inventory system for Ramon Trading. The replacement of manual system with the proposed system provided more efficient and accurate processing of the transaction. The system is reliable, eliminates errors and inaccurate information, and provided valuable reports with integrity.
In accordance to the study of Navarro (2012), Sales and Inventory System, computer is general purpose device which can be programmed to carry out the finite set arithmetic or local operation, the computer has a big role in our nation today because of technology. Wherever you go, computer exists, especially in business it makes the procedure easy and source by programming the manual system into a computerized system. The role of technology in our life today has a big impact.
Sales and Inventory Monitoring System
According to Bianca, Demand Media (2011), Sales and Inventory Monitoring System using this type of system, a company makes strategic business decision regarding raw materials purchased, production scheduling pricing, and other decisions in the supply, Sales and Inventory data enables the company to increases or decreases of products in the factory so that the company won’t have too finished goods stored in its warehouse.
Sales and inventory monitoring system collects data to aid in production scheduling. For example, some system use recent sales data to forecast how many of a type product will be needed to meet consumer demand in the near future. This includes monitoring the levels of a product at all location.
A good example is global company with customers around the world. The customer might live in Japan, but the system must monitor if the warehouse in Canada have available product to ship to Japan. Other people used computers in their daily living. Some use it for transactions; some people used it for educational purposes and used it for data storage.
Though it might sound unnecessary but in case storing files and etc. With the help of computers it simplifies the process of storing and managing the file you need for future use and make finding file easier than the manual process. Computerized Sales and Inventory System is a product of human knowledge with the use of technology, so why not use technology as advantage and benefit to ourselves.
This proposed system aims to lessen works and to resolve problems involving strict and complex recording and calculations.Sales and Inventory system is important in planning a small or big business transaction and to that business who don’t want to be bankrupt and lost profits.
That’s why the several study that they were conducted to develop a more reliable system and to help businessperson in doing their business transaction processing easier and faster providing the business more convenience and satisfaction.
Chapter 2 | Related Literature | Sales and Inventory System: Sales System
According to Janes (2011), computers are extremely reliable device and very powerful calculators with some great accessories application like processing problem for business activities, regardless of size, computers have three advantages over other type of business equipment that process information because computer are faster, more accurate and more economical.
Through the guidance of Audra Bianca (2015), using this type of system, a company makes strategic business decisions regarding purchased raw materials, scheduling production, pricing, logistics and other decisions in the supply chain. Sales and inventory enables the company data to increase or decrease production in the factory so the company won’t have too many finished goods that stored in their inventory.
The system collects data to aid in production scheduling. For example, some systems use recent sale data to forecast how many of a type product will be needed to meet consumer demand in the near future. The monitoring includes the levels of the product at all location.
The system compares current inventory levels of product and number for scheduled production with the amount needed and it determines if the level of production must be changed or not, if changed is necessary, the system sends a message to the master production scheduler to increase production. Also, the system slows down the production if the products retail sales don’t meet the sales that the company wants to reach.
Inventory Management System
According to Shanker (2013), the difference between manual and computerized system is speed. The processed data can minimize errors and increases efficiency. The data inputted can easily be summarized in just a few seconds.
While the manual computing with paper and pencil or ball penis cheaper than a computerized sales system, which requires a machine and system software. Other expensed associated with computer process include training and program maintenance.
According to Aberdeen Group (2012), companies are prioritizing supply visibility, inventory optimization and supply chain analytics, and supply chain outsourcing as ways to cut Supply Chain Management (SCM) cost this year.
According to the U.S. Small Business Administration (2010), inventory refers to stocks of anything necessary to do. The U.S. Small Business Administration describes what constitutes successful inventory management balancing cost benefits of inventory, including sustaining a wide collection without spreading the rapidly moving items too thin, Increasing inventory without sacrificing service, Keeping stock low without sacrificing performance, Obtaining lower price by making purchases volume, Maintaining an adequate inventory without an excess of obsolete items.
From the work of Jonas Claymore (2012), the cost-effective and highly innovative inventory management system gives you instant access to stock levels, allows timely orders and zero waste of time. Get real-time reports what the inventory system does is to allow you purchase supplies based on the most current order data record.
This minimizes overstocking and at the same time, frees up resources for more urgent needs.The Inventory Ordering System gives you better control over your supply chain, affording you the amenity of being capable to place orders online or via SMS.
And because the systems automatically produce inventory and sales reports, your workers will have less paperwork to file and more time to focus on operations. For superlative businesses with franchise activities, this user-friendly inventory management system can be customized for any multi-site such as company, commissary, or warehouse backend.
Download the Full Source Code of this project
Here’s the complete Source code RV Empire Sales and Inventory System