POS and inventory system
Chapter 1
INTRODUCTION
Inventory is basically the total amount of goods and materials held in stock by a factory, store and/or any businesses. An inventory system is a process whereby a business keeps track of the goods and materials available. In its simplest sense, it can be done manually by a count at the end of each day. In this way it is possible to keep a record of the goods coming in to the business and products being sold.
Point of Sale (POS) and Inventory management are vitally important for any business that sells a physical product. An inventory system must be balanced having enough inventories on hand to meet the demand of customers while investing as little money as possible in inventory. However this is only really appropriate for small businesses who have limited stocks. For larger businesses, it is more likely that a computerized system will be required. These days, a computerized Point of Sale and inventory system is most likely to be used by medium and large businesses although some small businesses use it too. This can be used to track customer orders, monitor the stock a business has available for fulfilling orders and also provides details of when of when inventory needs to be restocked. Since manual inventory consumes a lot of time and is susceptible to errors, it would be helpful to build a system that will automate the transactions from acquisition of the product description to update the inventory database. The automated inventory system will improve employees’ work efficiency by automating routinely and time consuming tasks such as the time spent in taking down product information. As a result, the time consumed can be used in more productive activities and would eliminate the need of constantly encoding lengthy details of products.
Company Background
Yakal as originally started at the year 1996 at its main branch at Candon City, Ilocos Sur. A year later, they built their branch at Del
INTRODUCTION
Inventory is basically the total amount of goods and materials held in stock by a factory, store and/or any businesses. An inventory system is a process whereby a business keeps track of the goods and materials available. In its simplest sense, it can be done manually by a count at the end of each day. In this way it is possible to keep a record of the goods coming in to the business and products being sold.
Point of Sale (POS) and Inventory management are vitally important for any business that sells a physical product. An inventory system must be balanced having enough inventories on hand to meet the demand of customers while investing as little money as possible in inventory. However this is only really appropriate for small businesses who have limited stocks. For larger businesses, it is more likely that a computerized system will be required. These days, a computerized Point of Sale and inventory system is most likely to be used by medium and large businesses although some small businesses use it too. This can be used to track customer orders, monitor the stock a business has available for fulfilling orders and also provides details of when of when inventory needs to be restocked. Since manual inventory consumes a lot of time and is susceptible to errors, it would be helpful to build a system that will automate the transactions from acquisition of the product description to update the inventory database. The automated inventory system will improve employees’ work efficiency by automating routinely and time consuming tasks such as the time spent in taking down product information. As a result, the time consumed can be used in more productive activities and would eliminate the need of constantly encoding lengthy details of products.
Company Background
Yakal as originally started at the year 1996 at its main branch at Candon City, Ilocos Sur. A year later, they built their branch at Del