Sales and Inventory Thesis

To be successful in today’s business environment, an organization must be able to perform certain fundamentals accurately and efficiently. One of these elements is having an effective and efficient Inventory System Management (ISM). ISM enables one to have the knowledge of where his or her inventory is at every step of the way. This allows one to better interact with consumer and make sales. Choosing the right ISM can lead and pave the ground work for future business success and profitability.

Merchandising inventory is goods that have been acquired by a distributer, wholesaler, or retailer from suppliers with the intent of selling the goods to third parties. (Accountingtools.com, 2015) When choosing the type of method to use for merchandising inventory it is important for the business to understand what type of services or goods that are being provided. This can offer a better insight to the proper and most cost effective method. When deciding there are four types of inventory cost methods to elect from.

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.

When conducting operation functions in any organization, a set of rules and common procedures must be abided by to ensure that the highest level of consistency and accuracy is maintained. The receiving of Raw material can be improved upon by reducing the paper load that one would have to follow just to be able to track and store data from the point of shipping to unloading the raw materials at a factory. By creating a new system

When Kudler opened its first store back in 1998, Microsoft Access was chosen as the database platform used to track inventory, orders and customers. While this initially proved to be an adequate solution, it has since outgrown its usefulness. Now with three stores and a fourth due to open soon, a new database management system must be put into place.

The strength in the existing information system is that the modules that are installed reduce the manual data entry, thus eliminating unnecessary errors to the information, by allowing the modules to share information provided by the point-of sale machines. The POS system itself is a major benefit to the IT system as a whole, due to the number of transactions it is

The current database provides a basic inventory system. For the new application to be a success, there are several items that need to be addressed with the current Kudler Database. For instance, Kudler needs additional tables such as Reserved Inventory table. This table will be a transaction table that will reserve the items by removing them from inventory and holding them in the reserved table until one of the following conditions is met.

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

Also by these systems the company reduced its business cost and maintains the information and the data very updated form.

Monitoring item levels and creating a report based on customer needs, by upgrading this allows the company to keep track of low inventory which would be accessed by the customers via their smart phones. Efficient and confident inventory control is a major factor that would help increate revenue and sustain it.

The company problem is they using chaos system and it is difficult for the admin to estimate their profit. With the new system developed, the company can manage their inventory data easily, quickly and more secured.

Managing what's in a warehouse or on the shop floor can be extremely complex if you're looking for optimal cost and supply chain management capabilities( Needleman, 2017 ). Inventory estimation and control is directly impacted a company’s profitability.

goods. They can also be in process between different locations. Holding of inventories can cost a

Centralised inventory data, orders and payment systems give the company the ability to monitor overall product and cash flows. Every shop will also use the same system to perform the same tasks.

Inventory itself is a list of products that a company has available for sale to customers. So what is Inventory Management? By definition according to BusinessDictionary.com, “Inventory Management is policies, procedures, and techniques employed in maintaining the optimum number or amount of each inventory item”.