Ct Concepts Sales and Inventory System
I. Introduction
Background of the Study Originally, in the era before computers, sales were tracked with counter ledgers or, later on, mechanically issued receipts from cash registers. Inventories had their own ledger book, meaning that the two systems were entirely separate out of necessity. With the advent of modern computer technology, it has become possible to combine the two systems into one digital process.
While there have been a number of half-and-half systems created that incorporate computer design and sales/inventory control systems using periodic update methods, the most advanced systems use a process known as perpetual inventory systems. In a perpetual inventory system, newly arriving inventory is debited to the computerized inventory account, whereas traditional ledger or half-and-half digital/traditional systems use periodic entries and a purchase account, which is a less efficient process overall and can lead to intermittent reporting inaccuracies. [1]
Globally, in U.S. Wal-Mart run its stores on a perpetual inventory system. This system records the quantity of items sold as items are purchased. The computer system at Wal-Mart constantly keeps up with additions or deductions from inventory and tells management what items are on hand. The organization also conducts counts of employee manual counts of inventory periodically. When an item arrives at the Wal-Mart distribution center it is scanned into the inventory system. When the items are purchased by the consumer, the point-of-sale system reduces the inventory from that purchase. According to Wal-Mart’s Gail Lavielle, a leaner inventory will help clear out store clutter and help Wal-Mart focus on specific brands and products that consumers want. [2]
Nationally and locally, CT Concepts Enterprises, a branch in Davao City covers sales for the whole Mindanao. They are providing food service equipment to industrial, manufacturing facilities, commercial properties, residential communities
Background of the Study Originally, in the era before computers, sales were tracked with counter ledgers or, later on, mechanically issued receipts from cash registers. Inventories had their own ledger book, meaning that the two systems were entirely separate out of necessity. With the advent of modern computer technology, it has become possible to combine the two systems into one digital process.
While there have been a number of half-and-half systems created that incorporate computer design and sales/inventory control systems using periodic update methods, the most advanced systems use a process known as perpetual inventory systems. In a perpetual inventory system, newly arriving inventory is debited to the computerized inventory account, whereas traditional ledger or half-and-half digital/traditional systems use periodic entries and a purchase account, which is a less efficient process overall and can lead to intermittent reporting inaccuracies. [1]
Globally, in U.S. Wal-Mart run its stores on a perpetual inventory system. This system records the quantity of items sold as items are purchased. The computer system at Wal-Mart constantly keeps up with additions or deductions from inventory and tells management what items are on hand. The organization also conducts counts of employee manual counts of inventory periodically. When an item arrives at the Wal-Mart distribution center it is scanned into the inventory system. When the items are purchased by the consumer, the point-of-sale system reduces the inventory from that purchase. According to Wal-Mart’s Gail Lavielle, a leaner inventory will help clear out store clutter and help Wal-Mart focus on specific brands and products that consumers want. [2]
Nationally and locally, CT Concepts Enterprises, a branch in Davao City covers sales for the whole Mindanao. They are providing food service equipment to industrial, manufacturing facilities, commercial properties, residential communities