Inventory System for Gamot Publiko Drugstore Document Essay

1.1Background of the Study It has been disclosed during the interview that Gamot Publiko Drugstore needs a computerized inventory system. The company’s current inventory monitory system though works for them has to automate. A simplified computerized inventory 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 control 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, consumables, 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 user and can be easily updated without having to scroll through spreadsheets. 1.2Statement of the Problem As business has grown rapidly , inventory monitoring becomes significant factor in managing overall business operation. The company had humble beginnings in terms of sales. From a few easy to handle flow of inventory stocks, the company had to handle large 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. 1.3Objectives of the Study 1.3.1General Objective To develop a computerized inventory system for Gamot Publiko Drugstore that will make its inventory monitoring convenient, efficient and timely. 1.3.2Specific Objective †¢To develop a module that will automate the monitoring and updating of the company’s inventory. †¢To develop a module that will provide a timely and convenient report generation. 1.4Significance of the Study The company currently maintains inventory level at three months of its sales requirements. Before the company’s inventory turns low of its inventory level requirement, an order needs to be placed through a Purchase Order duly approved by the company’s responsible approving officers. This Purchase Order is then sent to suppliers for acceptance and delivery. Sometimes, 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 Limitation For the company Our System would help the company to make easier to store and retrieve all the data file. I will allow the management to check and closely monitor the data file transaction and status of their stock. For the user This System lessens their time of work in checking and updating all the files and protecting of the files are included in this system so the user might open the file without concern of something happen to it. Transactions Stock Ordering A 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 Purchase A Customer Purchase simply means that the customer will buy what they want or what they need in the company.