Inventory System for Gamot Publiko Drugstore Document Essay

1.1Background of the StudyIt has been disclosed during the interview that Gamot Publiko Drugstore needs a computerized arsenal organization. The confederacys current enrolment monitory system though works for them has to automate. A simplified computerized account system will be very helpful to the company since this will expedite its inventory workflow as well as generate very timely reports needed by the management for its evaluation and review and overall decision making. An inventory mark off system is a process for managing and locating objects or materials. In common usage, the term may also refer to just the software components.Modern inventory control systems often rely upon barcodes and RFID tags to provide automatic identification of inventory objects. In an academic study performed at Wal-Mart, RFID reduced Out of Stocks by 30 percent for products selling between 0.1 and 15 units a day. Inventory objects could include any kind of physical asset merchandise, consumabl es, fixed assets, circulating tools, library books, or capital equipment. Inventory Systems help companies with huge inventories to easily and accurately monitor their stocks. With the use of a database, information will be readily available to the substance abuser and can be easily updated without having to scroll through spreadsheets.1.2Statement of the ProblemAs business has grown rapidly , inventory monitoring becomes significant factor in managing overall business operation. The company had humble beginnings in terms of gross revenue. From a few easy to handle flow of inventory stocks, the company had to handle immense volume of stocks due to sales demand. The stock cards used as inventory monitoring sheets , were transferred to MS excel type control sheets. As sales and purchase volume increased, sales returns and inventory claims were inevitable. The process of updating inventory files became slow .Though reports are generated, they were usually delayed. The need for timely inventory reports is necessary in assessing business performance . A more convenient, easy to monitor, easy to access inventory monitoring system will ease the problem on unaccounted inventory and delayed inventory reports.1.3 accusives of the Study1.3.1General ObjectiveTo develop a computerized inventory system for Gamot Publiko Drugstore that will make its inventory monitoring convenient, efficient and timely.1.3.2Specific ObjectiveTo develop a module that will automate the monitoring and updating of the companys inventory. To develop a module that will provide a timely and convenient report generation.1.4Significance of the StudyThe company currently maintains inventory level at three months of its sales requirements. Before the companys inventory turns low of its inventory level requirement, an set needs to be placed through a Purchase Order duly approved by the companys responsible approving officers. This Purchase Order is then sent to suppliers for acceptance and delivery. S ometimes, the company does bulk order as negotiated between the supplier for bigger discounts and low pricing. So far, the company has never encountered any problem among its supplier . Goods were so far been delivered in good condition and on time .1.5Scope and limitationFor the companyOur System would help the company to make easier to store and retrieve all the data file. I will allow the management to check and virtually monitor the data file transaction and status of their stock.For the userThis System lessens their time of work in checking and updating all the files and protecting of the files are include in this system so the user might open the file without concern of something happen to it.TransactionsStock OrderingA stock order simply means the ordering of new stock to refill the inventory, replenish shelves or when a large order has been made etc. The warehouse will be contacted and the delivery will be made.Customer PurchaseA Customer Purchase simply means that the cus tomer will buy what they indirect request or what they need in the company.