Inventory Management System Proposal
1 Introduction
1.1 Overview Inventory Management System is a vital part of any retail business, Inventory management provides critical information about the condition of products, such as whether low on stock and the inventory needs to replenish. Inventory system also provides the customers with accurate information, letting them know when items are out of stock, back –ordered, or pre-orderable. Modern inventory control systems often rely upon barcodes and radio-frequency identification (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. To record an inventory transaction, the system uses a barcode scanner or RFID reader to automatically identify the inventory object, and then collects additional information from the operators via fixed terminals (workstations), or mobile computers. In consideration to these facts this project is meant to design Inventory management system for Vonall com plc.
1.2. Existing system Existing system of Vonall com plc is developed using Microsoft Excel it only has one function. The excel worksheet can accessed by any staff in the Vonall com company and modification can be done easily. The customer places an order and receives the product just from the stock. This system allows the staffs to manage what products are currently in stock and where they are located. Furthermore, users are able to find products by name or model number. The existing system provides text-based interface, which is not as user-friendly as Graphical user Interface. Since the system is implemented in Manual, so the response is very slow. The transactions are executed in off-line mode, hence on-line data capture and
1.1 Overview Inventory Management System is a vital part of any retail business, Inventory management provides critical information about the condition of products, such as whether low on stock and the inventory needs to replenish. Inventory system also provides the customers with accurate information, letting them know when items are out of stock, back –ordered, or pre-orderable. Modern inventory control systems often rely upon barcodes and radio-frequency identification (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. To record an inventory transaction, the system uses a barcode scanner or RFID reader to automatically identify the inventory object, and then collects additional information from the operators via fixed terminals (workstations), or mobile computers. In consideration to these facts this project is meant to design Inventory management system for Vonall com plc.
1.2. Existing system Existing system of Vonall com plc is developed using Microsoft Excel it only has one function. The excel worksheet can accessed by any staff in the Vonall com company and modification can be done easily. The customer places an order and receives the product just from the stock. This system allows the staffs to manage what products are currently in stock and where they are located. Furthermore, users are able to find products by name or model number. The existing system provides text-based interface, which is not as user-friendly as Graphical user Interface. Since the system is implemented in Manual, so the response is very slow. The transactions are executed in off-line mode, hence on-line data capture and