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Chapter 1: The Problem and its Settings

INTRODUCTION

Inventory system software is an automated way for companies to keep track of their inventory from initial purchase to final sale.

Many companies are using inventory systems for their success and growth. Inventory systems have a variety of functions purposes in businesses.   Promoting the sales and shrinkage control are two main functions of inventory system. Promoting the sales function deals with availability of sufficient products for the customers where as shrink age control function deals with monitoring the occurrence of damage loss, or theft of the products. 

Inventory systems strive to strike a balance between managing costs and the business advantages of a broad selection of goods to offer to customers. All inventory systems, regardless of technology, require some element of visual inventory management.

Using this type of system, a company makes strategic business decisions regarding raw material purchases, production scheduling, pricing, logistics and other decisions in the supply chain. Sales and inventory data enables the company to increase or decrease production in the factory so the company won't have too many finished goods stored in its warehouses.

A sales and inventory monitoring system collects data to aid in production scheduling. For example, some systems use recent sales data to forecast how many of a type of product will be needed to meet consumer demand in the near future. This includes monitoring the levels of a product at all locations. 

1.1 Background of the Study

Wing And Marketing Incorporated is in the business of distribution of consumer products, buying, selling and trading of goods. They are currently using the manual way of recording their sales, and inventory of their products, so we decided to propose to that that we will provide, develop and design a system that will let them record and monitor their sales and inventory in a faster, more accurate and...