chapter 2
CHAPTER II
Review of Related Literature and Studies
This chapter presents a brief discussion of the literature reviewed by the researchers which further enriched the conceptualization of the study and helped in describing the cognitive design that guided the conduct of the researcher.
Foreign Literature
Inventory Systems Summary
According to the U.S. Small Business Administration, “Inventory refers to stocks of anything necessary to do business” (U.S. Small Business Administration, 2010) The U.S.
Small Business Administration publication describes what constitutes successful inventory management balancing cost versus benefits of inventory, including Maintaining a wide assortment without spreading the rapidly moving items too thin, Increasing inventory turnover without sacrificing service, Keeping stock low without sacrificing performance, Obtaining lower prices by making volume purchases, Maintaining an adequate inventory without anexcess of obsolute items.
Companies need Inventory System
According to Eugene F. Brigman, in the book of Fundamentals of Financial Management published at year 2000 in the publishing company of Holt, Richard and Winston Sounders College Publishing; Companies are increasingly employing Inventory System. A computer start with an inventory counts in memory. Withdrawals are recorded by the computer as they are made, and the inventory balance is constantly revised. When the recorded point is reached, the computer automatically places an order, when this new order is received, the recorded balance is increased. Retail stores have carried this system quite far, each item has magnetic codes, and as on item is checked out, and it passes over an electronic reader, which then adjusts the computersinventory balance, at the same time the price is fed to cash register tape.
Inventory System Consist
An inventory control system is used in many warehouses to track the location, quantity, and status of goods that
Review of Related Literature and Studies
This chapter presents a brief discussion of the literature reviewed by the researchers which further enriched the conceptualization of the study and helped in describing the cognitive design that guided the conduct of the researcher.
Foreign Literature
Inventory Systems Summary
According to the U.S. Small Business Administration, “Inventory refers to stocks of anything necessary to do business” (U.S. Small Business Administration, 2010) The U.S.
Small Business Administration publication describes what constitutes successful inventory management balancing cost versus benefits of inventory, including Maintaining a wide assortment without spreading the rapidly moving items too thin, Increasing inventory turnover without sacrificing service, Keeping stock low without sacrificing performance, Obtaining lower prices by making volume purchases, Maintaining an adequate inventory without anexcess of obsolute items.
Companies need Inventory System
According to Eugene F. Brigman, in the book of Fundamentals of Financial Management published at year 2000 in the publishing company of Holt, Richard and Winston Sounders College Publishing; Companies are increasingly employing Inventory System. A computer start with an inventory counts in memory. Withdrawals are recorded by the computer as they are made, and the inventory balance is constantly revised. When the recorded point is reached, the computer automatically places an order, when this new order is received, the recorded balance is increased. Retail stores have carried this system quite far, each item has magnetic codes, and as on item is checked out, and it passes over an electronic reader, which then adjusts the computersinventory balance, at the same time the price is fed to cash register tape.
Inventory System Consist
An inventory control system is used in many warehouses to track the location, quantity, and status of goods that