Inventory System free essay sample

Abstract The purpose of this study is to apply a MySQL database-equipped inventory system to a sample cellphone retail store where it would manage the store’s product inventory and improve the physical-writing of daily/monthly inventory reports for them to examine. It will be a process integration where we will install a computer system to help them generate an inventory report that they’ll just have to input certain data and the system would provide them of a formatted document. We haven’t actually produced any results yet since we are starting to process the system’s requirements and interface of a cellphone store and thus, this section of the abstract would be improve until the important data for this report is already obtained. II. Acknowledgements We would like to acknowledge the help of our Software Engineering course professor, Mr. Rolando Fajardo, for motivating us to strive hard and gave us the necessary sample materials to complete and further understand the completion of this documentation of our project. We will write a custom essay sample on Inventory System or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page We would also like to acknowledge the help and support that we got from our fellow colleagues here at Far Eastern University – Makati for the guidance and certain help they gave us while conducting and making this documentation III. Dedication We dedicate this documentation for all our batch mates and our fellow Information Technology students here at Far Eastern University – Makati as this documentation may inspire them to strive hard and further improve their skills as the future’s next leading programmers, designers and all other types of workers in the field of Information Technology. Introduction While it is somehow proven that physically-written reports are mostly fool-proof evidence of a legitimate or official document in certain businesses, it really takes too much time and effort for people to actually write these kinds of reports for their business. With a generation that mostly relies on technology nowadays, we do not consider anymore this kind of process of making it and now depending on computer to make one for us with just simply placing data in a certain program that would generate a well-designed report to be examined by people. Background of the Study In our technology-dependent generation right now, it is easy to say that written documents are already out of style right now since some computer applications or software are now integrated to analyse, formulate and produce documents that are well-formatted and well-designed by these programs. Our MySQL database-equipped cellphone inventory system would integrate the usual paper-recording of product inventory in certain store in which, we will apply this for a cellphone inventory store that usually updates their inventory for their stock availability, products sold and stock left in their store. We will integrate their system of updating it through a software inventory system that’s powered by a MySQL database to ease the burden of writing/recording and making an inventory report for daily or monthly sales report for their store. Research Paradigm Input Process Output New Product/Item (Details) Adding of New Item in Inventory (w/ Details) Report that a new item was added New Stock for Products Updating Inventory for new stock (Stock column) Report that stock column has been updated with new stock quantity Edit details of product Editing Inventory for details of a product Report that product details has been edited Delete product from Inventory Removal of Item/Product from Inventory Report that product has been removed from inventory Daily Sales Data Processing of store’s transactions Written/Formatted Report of Daily Sales Monthly Sales Data Processing of store’s transactions (w/in the whole month) Written/Formatted Report of store’s Monthly Sales Statement of the Problem The focus of this study is whether an inventory system equipped with a MySQL database would work for a cellphone store storing, updating, and deleting their products and its details for easy-completion of their store inventory. Significance of the Study We are motivated to pursue this study because of the application of an inventory system equipped with MySQL database for a cellphone store to integrate their store’s inventory system and to ease the paperwork usually needed to record the all of the products that go to their inventory Scope and Delimitation The scope of this study covers the adding, updating/editing, removing and other necessary tasks that a cellphone retail store does for their inventory management. This system integrates the written documents that were usually used before in writing an inventory report of their products and additional details that is necessary for it. The delimitation of this system is that it only covers the basic inventory process that these stores need for their inventory management. Additional features would be optional since our system would only be focusing on the main inventory process of the business. Added features are expected not to work efficiently or perfectly as of this moment since we are just integrating the basic functions of their inventory process. Definition of Terms Inventory an itemized list of current assets: as a catalogue of the property of an individual or estate or a list of goods on hand Inventory Management is vitally important for any business that sells a physical product. Cellular phone/Cellphone portable phone: a portable telephone operated through a cellular radio network Database collection of data on computer: a systematically arranged collection of computer data, structured so that it can be automatically retrieved or manipulated MySQL MySQL is an open source relational database management system (RDBMS) based on Structured Query Language (SQL). VI. Chapter 2 REVIEW OF RELATED LITERATURE AND STUDIES Foreign Literature(both should be from 2009-2014) Foreign Studies Local Literature Local Studies VII. Chapter 3 RESEARCH METHODOLOGY Specification of Research Design Respondents of the Study Research Instrument Data-Gathering Procedure/Source of Data VIII. Chapter 4 SUMMARY, CONCLUSIONS AND RECOMMENDATIONS Summary of FindingsConclusionsRecommendations Further for Further Studies BIBLIOGRAPHY APPENDICES Letter of Request for Permission to Conduct Survey Questionnaire Curriculum Vitae USER’s MANUAL ( separate document) Inventory System free essay sample A perpetual inventory tracking system is a method of immediately accounting for inventory sales in the inventory account, if there is no theft or spoilage. It is an inventory management system where store balances of inventory are recorded after every transaction. It eliminates the need for the store to close down constantly for inventory stock-taking as perpetual inventory systems allow for continuous stock-taking. Perpetual inventory systems keep a running account of the companys inventory. Perpetual inventory systems involve more record-keeping than periodic inventory systems. Every inventory item is kept on a separate ledger. These inventory ledgers contain information on cost of goods sold, purchases, and inventory on hand. Perpetual inventory management systems allow for a high degree of control of the companys inventory by management. Perpetual inventory management is generally used by companies who have the ability to scan the inventory items sold and who use  point-of-sale inventory systems. We will write a custom essay sample on Inventory System or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Perpetual inventory systems provide the business owner with a record of what is sold, where it was sold from, when it was sold, and for what price it was sold. As a result, it allows for businesses to have more than one location with one centralized inventory management system. Even with a perpetual inventory management system, the company still needs to shut down at least annually to do a periodic, or manual, inventory count. The scanned data should tell the business owner exactly what inventory should be on hand. The major advantage of doing a periodic inventory count is to determine how much inventory has been lost, stolen, or subject to spoilage. What is a Periodic Inventory System? A periodic inventory system does not require day-to-day tracking of physical inventory. Purchases, cost of goods sold, and inventory on hand cannot be tracked until the end of the accounting time period when a physical inventory is performed and ending inventory is compared against the sum of beginning inventory and purchases. Cost of ending inventory can be calculated by using the  LIFO or FIFO inventory accounting methods, or other less common methods. Inventory System free essay sample Technology in todays modern society is constantly evolving at a rapid pace. Almost every thing that surrounds us is all about technology. The need of technology is affecting almost every area of society, including companys businesses. In today’s business environment, even small and mid-sized businesses have come to rely on sales and inventory systems. Advanced system on sales provide more reliable recording of sales of the company. Sales and inventory makes the company more productive, efficient and convenient to the company and its clients. This sales and inventory system is meant to help the company to show to their customers that they are inline with the use of technology for its demand is extremely high. By providing more reliable recording of sales of the company, hoping to increase their sales and most to increase the profit of the company. Using the computerized way of inventory is much more superior and far quicker than using the manual system. We will write a custom essay sample on Inventory System or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Indeed, implementing sales and inventory system on a company is a big help because it lessen the work load of the employees and minimize the factor of human error. Inventory systems are use in many different companies today as a tool to make sure the company strives into success. Inventory systems serve several different functions for businesses; one purpose is promoting the sales function by ensuring that a sufficient amount of product is available for customers. Another purpose is shrinkage control, that is monitoring the frequency of loss, theft, or breakage of products received. Another very important function of inventory control systems is asset valuation; that is establishing the value of the products on the shelf for tax purposes at the end of the tax year. According to the Small Business Administration, all inventory systems strive to strike a balance between managing costs and the business advantages of a broad selection of goods to offer to customers. 1. 2Research Objectives 1. 2. 1 General Objectives The main purpose of this research is to develop a useful sales and inventory system for one of the franchise of Waffle Time. A system that has the capability to encode the different lists of products. To add, edit and delete. To add a new list in the existing list. To edit the current list. And to delete a list that do not exist anymore. We also aim to keep track the sales and inventory products. The sold products are deducted from the stored items in the inventory system. The sale must be the totality of the products purchased of the customer in the sales system. 1. 2. 2 Specific Objectives To design a user-friendly interface that can easily be familiarized by the user. To produce appropriate reports of the sales. To produce appropriate reports of the inventory. To develop a Sale and Inventory System for the Waffle Time business that will give solutions to the inconvenience caused of using the manual system. Scope and Limitation of the Research This research aims to create sales and inventory system that provides user efficient working environment and to provide more reliable and appropriate sales and inventory of the business. This system covers only the sales and inventory of the Waffle Time business franchise USLS branch (not sure if we can this branch). This system provides user-friendly interface resulting for each of the employee knows each and every usability features of the system. This system also helps in tracking records of the business.