Inventory System

A perpetual inventory tracking system is a method of immediately accounting for inventory sales in the inventory account, if there is no theft or spoilage. It is an inventory management system where store balances of inventory are recorded after every transaction. It eliminates the need for the store to close down constantly for inventory stock-taking as perpetual inventory systems allow for continuous stock-taking. Perpetual inventory systems keep a running account of the company's inventory. Perpetual inventory systems involve more record-keeping than periodic inventory systems.Every inventory item is kept on a separate ledger. These inventory ledgers contain information on cost of goods sold, purchases, and inventory on hand. Perpetual inventory management systems allow for a high degree of control of the company's inventory by management. Perpetual inventory management is generally used by companies who have the ability to scan the inventory items sold and who use  point-of-sal e inventory systems. Perpetual inventory systems provide the business owner with a record of what is sold, where it was sold from, when it was sold, and for what price it was sold.As a result, it allows for businesses to have more than one location with one centralized inventory management system. Even with a perpetual inventory management system, the company still needs to shut down at least annually to do a periodic, or manual, inventory count. The scanned data should tell the business owner exactly what inventory should be on hand. The major advantage of doing a periodic inventory count is to determine how much inventory has been lost, stolen, or subject to spoilage.What is a Periodic Inventory System? A periodic inventory system does not require day-to-day tracking of physical inventory. Purchases, cost of goods sold, and inventory on hand cannot be tracked until the end of the accounting time period when a physical inventory is performed and ending inventory is compared against the sum of beginning inventory and purchases. Cost of ending inventory can be calculated by using the  LIFO or FIFO inventory accounting methods, or other less common methods. Inventory System Janes (2001) stated that computers are extremely reliable device and very powerful calculators with some great accessories applications like word processing problem for all of business activities, regardless of size, computers have three advantages over other type of office equipment that process information because computer are faster, more accurate more economical Reyes (2005) task would be time consuming to accomplish manually and more practical with the aid of computers field in cabinet.Dioso (2001) stated    that computer assist    careful intelligent planning, organizing, actuating and controlling . This maybe observed from the past that they monitor production activities, solve scientific problem and help arrive in tentative answer to a multitude of involve conditions. Ralph M. Stair (1999) emphasized that the development of technology through the years have enabled us to do more with less effort. From the orientation of the light bulb to the industrial revolution and beyo nd, we have continuously tried to in a more efficient means of doing tasks.Lewis (2002) stated that the reason for using computers vary from person to person. Some of the computers in business are to perform accuracy, to be as productivity, to decrease bottle necks or hassles to alter cash flows or to simples elevate your status. Sybex    Inc (1999) stated that visual basic provide a graphical environment in which the users usually designed the forms and control that become the building block of tour application . Visual Basic support many useful tools that will help the user more productivity. Computerize sales and inventory systemComputers 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 people for much simpler, easier and faster way to do things. Some used it as a hobby, and some use it as a job. Technolog y has never stopped from advancing through the years. Its new innovations helps answer the people’s further complex questions. Why not use these advantages to benefit ourselves? Many people use computers in their daily lives.Some use it for transactions, some use it for educational purposes and others use it for data storage. Though it might sound unnecessary but in some cases when storing a file for such a big company, can you manage it properly? Organizing, finding a file, etc. With computers, it can help you simplify the process of storing and managing the files you need for future use and make finding files easier than the manual process. A Proposed Sales and Inventory System In business like merchandising, Sales and Inventory system plays an important role.It is used to track all the transactions made by the business and responsible for monitoring the items supplies. All the business transactions must be properly recorded and must be fully secured by password. A Computer ized system is the best solution and most innovative answer for their needs. The researchers had been motivated to do a study on this topic according to the above observation. The result may help others to understand more about computer-generated data processing, especially on how to deal with computers in terms of speed, accuracy and data security Inventory System This chapter of a thesis commences a brief statement and enumerating the main topics that are to be covered in it; namely;1) Research Design; 2) Sources of Data (Locale of the Study and Population/Sampling); 3) Instrumentation and Data Collection; and 4) Tools for Data Analysis.Research DesignThe appropriate research design should be specified and described.A research design encompasses the methodology and procedure employed to conduct scientific research. The design of a study defines the study type (descriptive, correlational, semi-experimental, experimental, review, meta-analytic) and sub-type (e.g.: descriptive-longitudinal case study), research question and hypotheses, independent and dependent variables, experimental design if applicable, data collection methods and a statistical analysis plan.Sources of DataDescribe the locale of the study and the research population.Locale of the Study Describes the place where the study was conducted and the rationale behind its choice. Popu lation/Sampling Describe the population of interest and the sampling of subjects used in the study. Instrumentation and Data CollectionDescribe the instrument, what it will measure, how to interpret, to whom it will be administered and if it is necessary, describe how it will be administered. Discuss how the validity and the reliability will be established. Specify the level of reliability (probability). Give details of instruction given to assistants if persons other than the researcher gather data. State qualifications of informants if used in the study.Tools for Data Analysis Determine and justify the statistical treatment for each sub-problem Determine and justify the scales of values used and the descriptive equivalent ratings, if any.In thesis writing, the most difficult part to defend is Chapter 4 because it is inthis section where you will present the results of the whole study. Here is a sample thesis format.In thesis writing, the most difficult part to defend is Chapter 4 because it is in this section where you will present the results of the whole study. Here is a sample thesis format.CHAPTER 4: PRESENTATION, ANALYSIS AND INTERPRETATION OF DATAPresentation of DataPresent the findings of the study in the order of the specific problem as stated in the statement of the Problem. Present the data in these forms: Tabular Textual Graphical (optional) The ZOOM LENS approach may be used for purposes of clarity in the presentation of data, i.e. general to particular, macro to micro or vice versa.Analysis of the DataData may be analyzed quantitatively or qualitatively depending on the level of measurement and the number of dimensions and variables of the study. Analyze in depth to give meaning to the data presented in the data presented in the table. Avoid table reading. State statistical descriptions in declarative sentences, e.g. in the studies involving:Correlation State level of correlation State whether positive or negative Indicate the level of significa nce Make a decision Differences of Measures State the obtained statistical results Indicate the level of significance of the difference Make a decision Interpretation of Data1. Establish interconnection between and among data 2. Check for indicators whether hypothesis/esis/are supported or not by findings. 3. Link the present findings with the previous literature. 4. Use parallel observations with contemporary events to give credence presented in the introduction. 5. Draw out implications.In thesis writing, the Chapter is simply a summary of what the researcher had done all throughout the whole research. The following format serves as a sample:CHAPTER 5: SUMMARY, CONCLUSIONS AND RECOMMENDATIONSSummary of Findings This describes the problem, research design, and the findings (answer to the questions raised). The recommended format is the paragraph form instead of the enumeration form. For each of the problems, present:The salient findings, The results of the hypothesis tested Conclusions These are brief, generalized statements in answer to the general and each of the specific sub-problems. These contain generalized in relation to the population. These are general inferences applicable to a wider and similar population. Flexibility is considered in making of conclusions. It is not a must to state conclusions on a one-to-one correspondence with the problems and the findings as all variables can be subsume in one paragraph. Conclusions may be used as generalizations from a micro to a macro-level or vice versa (ZOOM LENS approach).Recommendations They should be based on the findings and conclusion of the study. Recommendations may be specific or general or both. They may include suggestions for fu rther studies. They should be in non-technical (skilled) language.They should be feasible, workable, flexible, doable, adaptable. An action plan is optional. Inventory System A perpetual inventory tracking system is a method of immediately accounting for inventory sales in the inventory account, if there is no theft or spoilage. It is an inventory management system where store balances of inventory are recorded after every transaction. It eliminates the need for the store to close down constantly for inventory stock-taking as perpetual inventory systems allow for continuous stock-taking. Perpetual inventory systems keep a running account of the company's inventory. Perpetual inventory systems involve more record-keeping than periodic inventory systems.Every inventory item is kept on a separate ledger. These inventory ledgers contain information on cost of goods sold, purchases, and inventory on hand. Perpetual inventory management systems allow for a high degree of control of the company's inventory by management. Perpetual inventory management is generally used by companies who have the ability to scan the inventory items sold and who use  point-of-sal e inventory systems. Perpetual inventory systems provide the business owner with a record of what is sold, where it was sold from, when it was sold, and for what price it was sold.As a result, it allows for businesses to have more than one location with one centralized inventory management system. Even with a perpetual inventory management system, the company still needs to shut down at least annually to do a periodic, or manual, inventory count. The scanned data should tell the business owner exactly what inventory should be on hand. The major advantage of doing a periodic inventory count is to determine how much inventory has been lost, stolen, or subject to spoilage.What is a Periodic Inventory System? A periodic inventory system does not require day-to-day tracking of physical inventory. Purchases, cost of goods sold, and inventory on hand cannot be tracked until the end of the accounting time period when a physical inventory is performed and ending inventory is compared against the sum of beginning inventory and purchases. Cost of ending inventory can be calculated by using the  LIFO or FIFO inventory accounting methods, or other less common methods. Inventory System Janes (2001) stated that computers are extremely reliable device and very powerful calculators with some great accessories applications like word processing problem for all of business activities, regardless of size, computers have three advantages over other type of office equipment that process information because computer are faster, more accurate more economical Reyes (2005) task would be time consuming to accomplish manually and more practical with the aid of computers field in cabinet.Dioso (2001) stated    that computer assist    careful intelligent planning, organizing, actuating and controlling . This maybe observed from the past that they monitor production activities, solve scientific problem and help arrive in tentative answer to a multitude of involve conditions. Ralph M. Stair (1999) emphasized that the development of technology through the years have enabled us to do more with less effort. From the orientation of the light bulb to the industrial revolution and beyo nd, we have continuously tried to in a more efficient means of doing tasks.Lewis (2002) stated that the reason for using computers vary from person to person. Some of the computers in business are to perform accuracy, to be as productivity, to decrease bottle necks or hassles to alter cash flows or to simples elevate your status. Sybex    Inc (1999) stated that visual basic provide a graphical environment in which the users usually designed the forms and control that become the building block of tour application . Visual Basic support many useful tools that will help the user more productivity. Computerize sales and inventory systemComputers 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 people for much simpler, easier and faster way to do things. Some used it as a hobby, and some use it as a job. Technolog y has never stopped from advancing through the years. Its new innovations helps answer the people’s further complex questions. Why not use these advantages to benefit ourselves? Many people use computers in their daily lives.Some use it for transactions, some use it for educational purposes and others use it for data storage. Though it might sound unnecessary but in some cases when storing a file for such a big company, can you manage it properly? Organizing, finding a file, etc. With computers, it can help you simplify the process of storing and managing the files you need for future use and make finding files easier than the manual process. A Proposed Sales and Inventory System In business like merchandising, Sales and Inventory system plays an important role.It is used to track all the transactions made by the business and responsible for monitoring the items supplies. All the business transactions must be properly recorded and must be fully secured by password. A Computer ized system is the best solution and most innovative answer for their needs. The researchers had been motivated to do a study on this topic according to the above observation. The result may help others to understand more about computer-generated data processing, especially on how to deal with computers in terms of speed, accuracy and data security