Inventory System Essay Example for Free

Inventory System Essay 1.0 Background of the study Computer nowadays is a basic need for businesses or companies. It helps a lot in such a way that it makes work more progressive and productive. It is an important thing that a company that manipulating data. Having computer programs may help a company grow bigger and be competitive in the flow of business world. It helps a lot because almost all the companies nowadays uses computer literate and very competitive in many aspects. Whatever kind of business you manage, you’re required by law to keep financial records relating to it. Bryan’s School Supplies and Accessories have to branches, all branches is using a manual inventory system. Each branch has its own inventory system and records transactions a day. The owner comes to visit in every branch to check the inventory and sales of the business weekly. It takes long time for them to record and file. All their transactions and they find difficulties and finding and searching their record in the past year or months. When recording their daily sales and inventory they should work together or their lot of people working in order to finish the job on time. The records of two branches are separated with each other. The owner found difficulty on checking records and sales of his business because the two branches are located in different place so he has to travel in order to check his business. The owner is looking for the most convenient way where the owner can save his money time and effort when checking the stocks inventory and sales of his business. A system that can merge all the records of their inventory and sales so that the owner don’t have to visit every branch of his business. 1.1 OBJECTIVES OF THE STUDY The main objectives of the study are to create an inventory system that could help the company increase their sales. Project aims to develop a web where the stock and sales record of company is stored. This system will help the  company to record and view all the record easy and fast, and also for the owner to view sales and inventory of his/her business even without visiting to it. The records of stocks of all branches are stored in the web. Specifically, this study aims to: 1. Provide an fast and easy to use inventory system for Bryan’s School Supplies and Accessories 2. Replace manual inventory with automated online inventory 3. Develop a system to help Bryan’s School Supplies and Accessories with their problem in terms of their stock records and sales inventory 4. Create a website where they can save and view their stock inventory and daily sales 5. Create a system that could help their business be more productive 6. Create a report about the daily stock records through the use of internet 7. Create a secure inventory system in web 1.2 SIGNIFICANCE OF THE STUDY This research would highly propulsive and could provide the community a solution for their problem regarding the said topic. The findings of this piece of research may provide an important informational base for the improvement of the business industries. The result of this research studies would specifically facilitate the policy makers and planners in devising suitable strategies for the future plan of action for getting better quality of education as the foundation of the business system. This study could benefit the following: The company: this study can help the companies to become more progressive and productive this study could provide the companies the idea on how to minimize the cost, time and effort of their stocks and employees in terms of recording daily transaction, sales and inventory. Company’s Staff: this study could give staff a benefit because if the company prefers to use this study as their system, their job would be easier and faster. Employees: the result of the study could benefit the employees to lessen their jobs and it will be easy for them to record all the transaction and inventory every day. Future researchers: this study could provide information for the future researchers that have a related topic. They can  use this study as related literature on their research study. Technical Review of Related Literature 2.0 Review of Related Literature This chapter presents the related literature and studies after the thorough and in-depth search done by the researchers. This will also present the synthesis of the art, theoretical and conceptual framework to fully understand the research to be done and lastly the definition of terms for better comprehension of the study. 2.1 Introductory Statement Organizations need to make the right choice and select the inventory control system that not only supports their current needs, but more importantly, is able to support additional functionality to narrow the business growth and technology gap at the right cost. The following are examples of inventory control systems that may suit your organization. In order for our project to be successful and much better than others, we made a system that can cater all the data and transactions of a business. Also, we add some additional and unique features to distinguish the difference of our system to the other systems used by some business firms. We gathered information about the features of some business inventory management system and compared it in our project as a related literature. The graph below shows the comparison of inventory systems in terms of their functionalities. 2.3 Comparison of the other system to the proposed one Bryan’s Online Stocks and Inventory System use an input device such as Barcode Scanner and RFID (Radio Frequency Identification). Also this system has the ability to search and filter data easily. But unlike the other systems this project has some unique features that other systems don’t have. It is an improve inventory system that has a special features that other inventory systems don’t have. Others don’t have a function like notifying the user about the number of products in the inventory which is one of the special functions of this system. Also it has the ability to generate daily report and have compilation of all transactions and records done from the start up to the current date. It has the ability to store data online through the use of private network over the web. Also with this system you can customize your own desired user interface. With this kind of system the company can be more organize because they can store all their records and data online, it reduces paper works and it makes transactions easier and faster. They don’t need to worry if the computer will be  corrupted or destroy because all the data was being stored online, they can open it to any computer as long as they have the security password and username of their private site. All the transactions performed in this inventory system occur in real time. So when multiple users are accessing inventory you can rest assured that theyre all seeing the latest information. Updates occur instantly, no more waiting for transactions to post. We can say that this system is more advance and efficient to use compare to the other systems of the other companies. Methodology and Project Scheduling 3.1 Introductory Statement Literature review is an important element for this project since it will give general idea and concept on how to develop an Online Stocks and Inventory for Bryans Accessories and School Supplies. Besides it will provide the requirements and challenges that need to be face during the progress of the project development. Project schedule is a project progress plan that shows the activities that has been plan throughout this project development. It will provide the guide to implement the progress of the project. Bryan’s Online Stocks and Inventory System have the following SDLC and Hardware and Software to be complying in order to have a good system project result. 3.2 Systems Development Life Cycle (SDLC) The SDLC of Bryan’s Online Stocks and Inventory System develop composed of 6 phases to follow in order to develop the system. The six stages are project planning, project analysis, project development, testing and debugging, implementation and maintenance. 3.2.1 System Planning In this stage the proponents identify and select the software to be used for Bryan’s Inventory. In system planning the proponents choose the project, brainstorming, doing research, interview and the whole member of the team develops the system. The planning of the system determines the task of each members. Determining who will used the system and functions of the system to  its user, the devices to be used in platform of the system. 3.2.2 Project Analysis In system analysis phase it consists of scripting, business process, data flow and database structure as a backbone of the system. It also include the planning of the schedule on how to finish the system project, the process and documentation of the system 3.2.3 System Development and design The system development stage is the application where it develops physical design. The proponents create scripting codes to compute the inventory and designing of the system. 3.2.4 Testing and Debugging Check the system for bugs and errors. The proponents used the bar code scanner to test the system; using the scanner the proponents will determine the functionality of the system. Testing and debugging helps to detect whether the system is working properly or not. The proponents let someone use the system that is not familiar with the system to test the system functionality subject for improvement. 3.2.5 Implementation The implementation of the syste3m will be exclusive for bryan’s school supplies and accessories. In the implementation of the system requires an internet connection to view the inventory of the company. The user log-in to a private network intended only for the inventory of Bryan’s school supplies and accessories 3.2.6 Maintenance In case of error of the functionality in the system the user/company can easily contact the proponents through the email or call/text to fix the problem. The system will implement using the internet which the proponents check and update. The proponents will keep an eye for the maintenance for one year. 3.3 Software Requirements (Recommended) Bryan’s online inventory system supported operating system is any windows 7 variety with 32 bit and 64 bit processor. This system is online and it doesn’t have much software requirements but the researchers prefer to use windows for this system. 3.4 Hardware Requirements (Recommended) The hardware requirements for Bryan’s Online Stocks and Inventory System are mouse, keyboard, and monitor, CPU with 2 GB and up RAM memory, Intel processor with 2-8 cores, hard disk (250 GB) and power supply. 3.5 Project Scheduling Bryan’s Online Stocks and Inventory System takes 47 days to be able to implement and used by the company. The activities and schedule of events are shown in our PERT and Gantt chart which is shown below: Summary of the Findings, Conclusion, and Recommendation 4.1 Introduction This chapter presents the summary of the findings, conclusions and recommendations based on the data analyzed in the previous chapter. Some limitations have been identified. The researchers study deals with the analysis and enhancement of Bryan’s School supplies and Accessories current inventory system. The study focuses on improving and on enhancing the existing system to double the performance and circulation of data.The researchers proposed an online inventory system where all the transactions and processes are done through the use of private network over the web 4.2. Findings The researchers found out that the online inventory system has a big help to the company as well as to the user of the system unlike the existing system which exhibits different problems like: System breakdown Slow processing of data Time consuming Unorganized records Too many paper works Too many people required to process transactions and inventory The researchers also found out that the proposed replacement of the existing  system can give the following benefits: 5x faster processing of data compared to manual system of inventory Less time consuming Continuous access to the entire system Better compilation of record transactions and data Reduces paper works and employees needed 4.3. Conclusion The researchers concluded that: 1. By replacing the existing hardware can give solution to the problems encountered by the encoder/user. 2. Inputing of data will be continuous and faster. 3. The proposed solution can bring such benefits in terms of maintenance cost and overhead cost of electricity.