Cis210

Inventory Control system

Shevonne Massicott

CIS210

Week 2 Assignment 1

An inventory control system maintains information about activities within companies. The subsystems that perform these functions include sales, manufacturing, warehousing, ordering and receiving. In different companies the activities associated with each of these areas may not be strictly contained within separate subsystems, but these functions must be performed in sequence in order to have a well-run inventory control system. In the business world today, even small and mid-sized businesses have come to rely on computerized inventory management systems. Inventory control is important to ensure quality control in business that handles transactions (big and small companies). I

Inventory can be a large expense for many businesses. Using an inventory budget can limit the procurement of too much inventory to be purchased at any given time. Many different budgets are available for inventory control. Standard budgets list a fixed amount available for inventory purchases. Flexible budgets rise or fall as business activity changes.

In this scenario I would advise my sister to use manual means of inventory tracking, since we are working with a tight budget. Using electronic inventory would be wasteful and also may be a big financial risk. When the business budget becomes financially stable to support a computerized inventory control system then the company owner can upgrade.

To track inventory manually, all you need is inventory track book.

• The first step would be to create rows and columns inside your inventory log book. There should be one row for each type of product being sold.

• Label each row with the name if the product for which you are tracking inventory. For example “Apple Bottom Jeans”, and “Candy Apple Flip Flops.

• The first column would include the original count. Label the second column expiration date or date received.

• After doing...