Assignment: Procurement‚ Inventory & Warehouse Management. Q1: What are the objectives of inventory management? To achieve satisfactory levels of customer Smooth-out variations in operation performances Avoid stock-out and shortage of material Safeguard against price changes and inflation Take advantage of quality discounts Goals & Objectives of an Inventory-Control System An inventory-control system is the mechanism within a company that is used for efficient management of the movement
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Colegio De San Juan De Letran College of Liberal Arts and Sciences 2nd Semester‚ School Year 2011-2012 Sales and Inventory System By: Panis‚ Hanna Katrina Navarro‚ Jenesis Dumanlang‚ Carmela Contreras‚ Amiel Chapter 1 I. Introduction Computers began from a wild imaginative idea to the world’s highly prioritized tool. Computers today are now used as a substitute to manual processes and other past inventions like the radio‚ television‚ etc. It is now used by
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necessities. Traditionally‚ organizations in the country communicate and share information in a manual manner. Pharmaceutical establishments use various paper materials and pens to process the sales and inventory. In this new era‚ there are establishments using automated transaction such as sales and inventory systems while other still depend on the manual procedures like Maureen Edisel Pharmacy. It is owned by Ms. Maureen Edisel C. Igmen‚ it was established on April 28‚ 2007. And it is located at Avenida
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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
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Introduction Most of the organizations in the sector of retails have invested a huge amount of money in inventories. Inventory management is considered very important for supermarkets due to the fact that it allows the replacement of a great variety of products at the right time and with low costs. As a consequence‚ organizations are focusing on controlling the capital in the activities involved in inventory management. Additionally‚ this field presents many important opportunities for potential improvements
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SALES AND INVENTORY SYSTEM System Features Product Management – Create and manage products/items. Set categories‚ packages and sub packages or bundled packages. Set retail price and wholesale price for customers and regular customers. Supplier Management – Add‚ update or delete suppliers. Create list of suppliers and monitor who is active. Your list of suppliers will also display your accounts payable. Customer Management – Create‚ update or delete customers. For regular customers‚ set
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Inventory Management System Proposal The new system proposal that will be introduced to Riorden manufacturing is an inventory management system. An inventory management system is used to control inventory for the products that are sold to the customers and the supplies that are used to help serve the customers. This new system will avoid mistakes as the inventory system will eliminate the need of manual inventory control and manual ordering of the products and supplies. This inventory management
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In order to fully and efficiently utilize our proposed vendor managed inventory system‚ we have performed extensive research of numerous hardware and software configurations. Among the many obvious requirements of the system are cost‚ scalability‚ compatibility‚ and ease of use. Some methods for consideration are outlined below. Cost - In order to keep costs down‚ we have decided to utilize the Internet. Vendors would be responsible for providing their own computer system in order to access
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objective forms a system.There are three major components in every system‚ namely‚ input‚ processing and output. The most commonly used system by several companies is the sales system and inventory system creating a window based system. Inventories are often the largest asset of company and a precise inventory management system is often needed to take into accent the sales‚ orders and the need for replenishments. It also ensures that goods are always stocked to an optimum level to meet customer demands
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Just In Time Inventory Management Definition: Just-in-Time (JIT) inventory management is the process of ordering and receiving inventory for production and customer sales only as it is needed and not before. This means that the company does not hold safety stock and operates with low inventory levels. This strategy helps companies lower their inventory carrying costs. Just-in-time inventory management is a cost-cutting inventory management strategy though it can lead to stock-outs. The goal
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