Point of Sale and Inventory System

A Point of Sale (POS) system is a system to manage the retail terminals and goods. POS system is a products combined by the software and hardware to deal with payment activities and to manage the functional information of retail, including sales tracking, storage management, security, accounting and customers’ information management.

This spreadsheet can help the cashier to choose the correct price and amount of products, then giving the customer their receipt of their order which is classed as a primary source as the information and data comes from the customer. The spreadsheet also help the manager to decide what ingredients and non-perishable food needs to be ordered from the wholesale. The spreadsheet shows the quantity of what items have been sold and the quantity left helping the manager to decide what needs to be ordered.

After careful assessment of the infrastructure and inventory systems used at Riordan Manufacturing, our team has identified these systems are outdated and unable to effectively manage the day to day processing. As a global leader in the manufacturing of plastic products, the performance and reliability of the infrastructure is crucial to the continued success and growth of your company’s operations. Therefore, our solution to uplift the infrastructure and launch of the Riordan Global Operations System (R.G.O) a new platform for supporting inventory and managing customer orders . Our system will enable your employees and customers see

The purpose of this course project is to address the ongoing issues surrounding my companies, REI (Recreation Equipment Inc.,) inventory management issue and to see if we can find a software program better suited to the companies needs. The goal is to find products quickly and efficiently. Customer satisfaction is key to driving sales and profit in any company. As a result a software upgrade is certainly needed in order to compete with other companies in the same industry.

Handheld mobile computers are efficient, have the ability to scan and allow for accurate, real-time data and inventory control and can be used throughout the supply chain process to enable instant inventory adjustments. Bar-coding is essential for just-in-time systems. Using scanners with a handheld PC will decrease the number of errors that occur from manual entry of data for inventory purposes. (ecampus.phoenix.edu, November 2009)

The POS is a great indicator of items in stock and knows when to order more stocks of the items. Every time any item is sold, POS updates the server and the inventory amount changes. Remember that POS system is the location where a transaction or checkout takes place. POS systems are able to track the internal stock and automatically schedule the replenishment stock from external sources. This inventory management is an important part of Information Systems. Inventory management is mainly about specifying the size and placement of stocked goods. Inventory management is also required at different locations of the supply chain; this encompasses everything from replenishment lead time, carrying the cost of inventory, inventory and demand forecasting, inventory valuation, inventory visibility, price forecasting, quality management, and returns of defective goods. The inventory management needs to be handled in the efficient manner as it is

Implementing the above automation processes will help the client to meet this requirement in a number of ways. However, in order for the automation processes to work an inventory management system must be put in place.

point of sale system. The POS system is a perpetual inventory counting method that electronically records items immediately upon their point of sale (Stevenson, 2015, pg. 552). In other words, as a cashier scans a customer 's groceries, each scanned item is automatically recorded in the system and deducted from the store’s inventory. Implementing a point of sale would benefit a business’s inventory management function in several ways. First, the POS system will provide managers with a continuous flow of updated information (Stevenson, 2015, pg. 552). As a result, the information will provide more accuracy when used for sales forecasts and analysis, which substantially affect inventory decisions. Continuously, this inventory system would also allow greater flexibility in the sense that it can be wirelessly linked to the main company’s inventory system, creating a network of the company’s inventory systems. The POS system is capable of tracking many operations at once and can be modified according to management’s needs (MacCarthy, n.d.). This flexibility would undoubtedly benefit a large company like Wegman’s with many store locations. Lastly, the system is able to help businesses maintain a high level of customer service. Because the system gives customers a receipt with the price and quantity of each item purchased, the customer is able to see exactly what he or she purchased. This practice

Used SAP tools with the project team and created a centralized system for inventory, finance and sales areas within a supply store system.

7. Customers acquire more interesting itemized receipts with a spot of sales devices. Many cash registers can only just print the time and the quantity of the deal, but since point of deal devices are linked in to the inventory control system they provides much more specific information, including a explanation of that, the list price and the sales price.

The adoption of Electronic Point of Sale (EPoS), Electronic Funds Transfer Systems (EFTPoS) and electronic scanners have greatly improved the efficiency of distribution and stocking activities, with needs being communicated almost in real time to the supplier (Finch, 2004).

Nowadays, in an era that has advanced technology and a place in the world. Everything can be linked only at your fingertips in the times of rapidly developing with the sophisticated technology of today. Therefore, an inventory system is also not lagging behind in introducing a method of keeping an inventory data systematically and safely. The system plays a very important role in improving the competitiveness of a business. Usually, organizations today face too many challenges to achieve the cost, speed and reliability. Efficient inventory system really help in order to make sure the store’s performance and data record is always in good condition and secured from abusers. The system basically to ease the admin to manage the

E-commerce is transactions conducted via electronic means such as the internet, email and SMS. It is considered to be one of the most important aspects of the internet to appear. As a result, people are able to exchange goods and services immediately regardless of their geographic location and time. More and more businesses conduct transactions on line, with some trading purely on-line thus reducing overheads and administrative costs.

Many organizations industriously look for the opportunity to gain the competitive advantages in their industries. One of the opportunities that frequently used by the organization is the implementation of e-commerce. Thus, the e-commerce and the online sale transaction become popular in each industry. E-commerce provides many benefits, such as the saving of shopping time, the cost savings, convenience, and free from geographical constraints.

A common way of decreasing the amount of inventory a business holds on a daily basis is implementing a just-in-time inventory process. A Just-In-Time inventory system means that the business gets the materials for a product, as they are demanded. “The electronic data