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A Point of Sale Inventory Management System Allows A Business Owner To Havemore Than One Business Location and Adequately Keep Track of Inventory at Each Withoutbeing Present
A Point of Sale Inventory Management System Allows A Business Owner To Havemore Than One Business Location and Adequately Keep Track of Inventory at Each Withoutbeing Present
business location and adequately keep track of inventory at each withoutbeing present. No more
worries about employee theft or pricing inconsistency betweenone location and another. The
boss can be away and not worry about employee theft.Employee efficiency can be maintained.
Point of sale systems take care of those problemsthat result when management isn't present.
Ravi (2010) pointed out that manual sales systems are time consuming, it is verytedious, lots of
paper work, slow data processing, it is not user-friendly environment andit is difficult to found
records due file management system.In an early age when the most of the company are still
using the manual system inthe sales and inventory most of the company encountered so many
problems and this isbecause of the process of the existing system is too slow and too long.
According to KayeMorris (2010), manual inventory management system can help sales and
productionmanagers control costs by identifying lost sales due to inventory shortages; inventory
overrides on products that are not selling; losses due to employee’s theft or
damage.
Implementing an inventory management system can take a large amount of timedepending on
the size and diversity of inventory.ERRORS! Beyond it being time consuming,
inventory counts and incorrect salesfigures can be detrimental to your business (Juarez, 2010).
2
To overcome the deficiencies of manual system, many companies haveautomated their
inventory system. This system is used to track or monitor themerchandise and goods of a retail
store. With an automated Sales and Inventory System,business rely on computers to do tasks
that were once performed manually, such asinventory check and product sales. Automated
Sales and Inventory System these processcan be handled in a timely manner and also be more
accurate and reliable than everbefore (Hartman, n.d.). It provides greater accuracy and more
flexibility in the types of information and reports that can be generated by the system.Point-of-
sale systems have replaced traditional cash registers, largely forfunctionality reasons. POS
systems, as they are sometimes called, are relatively easy touse and help provide valuable data
for important decision makers. In order to keep upwith the record-keeping needs of small and
mid-sized businesses, a good point-of-salesystem is a must. Web-based point-of-sale systems
are preferred over software based possystems because they are easily upgradeable, and feature
access from multiple computers(Carter, 2012).The best thing about having a computerized POS
System in your retail businessis: as new stocks arrives and as it is sold, it keeps the stock levels
current and updated,hence making it is easier to identify which items are selling and which
items are not. APOS System is also good in checking for any obsolete or out of date stock that
needs tobe disposed. If you are still counting your inventory manually on the shelves or in
thewarehouse, you should think twice about your method, for there are many advantages
inusing a POS System. One advantage of a POS System is its ability to help your business
file cabinets full of backup materials. By converting from manual process, we
would beable to eliminate a lot of paper. We could go further with the automation
of manual process and remove manual paperwork if people trusted the
technology.Point-of-sale systems have replaced traditional cash registers, largely
forfunctionality reasons. POS systems, as they are sometimes called, are relatively
easytouse and help provide valuable data for important decision makers. In order to
keepupwith the record-keeping needs of small and mid-sized businesses, a good
point-of-salesystem is necessary. Web-based point-of-sale systems are preferred
over software- based possystems
because they are easily upgradeable, and feature access from multiplecomputers
(Carter, 2012)The best thing about having a computerized POS System in your
retail businessis: as new stocks arrives and as it is sold, it keeps the stock levels
current and updated,hence making it is easier to identify which items are selling
and which items are not. APOS System is also good in checking for any obsolete
or out of date stock that needs
to be disposed. If you are still counting your inventory manually on the shelves or i
n thewarehouse, you should think twice about your method, for there are many
advantages inusing a POS System. One advantage of a POS System is its ability to
help your businessachieve detailed real-time stock level information. In addition, a
POS System can alsogive you information such as weather forecasts, public
holidays and major sportingevents, which can be of great help in determining the
stock level of seasonal products.You can now efficiently and effectively handle
your stock management accurately(Ganderton, 2010).
One of the biggest, and probably one of the most important, advantages of anauto
mated sales and inventory system is that it helps businesses focus on their
biggestgoal, to improve the customers experience at the store (Mueller, 2011).
With this system,companies can have a better understanding of customer demand
through the analysis oftheir sales and inventory.
Local Literature and Studies:
The Sales and Inventory System of the vital to any institution, agency,
ordepartment. The proper safekeeping, processing and disposal of records play
importantroles in the efficient, effective and smooth operation that eventually
would lead to thesuccess attainment of the goal and objectives of institution,
agency and departmentconcerned. Based on her recommendation there should be a
central record managementoffice that will hold data of the agency to serve as
locator of the record and to control thedisposal of each record. This can be possible
with computerized system. Computer withthe appropriate software package is
capable of handling records efficiently andeffectively. In addition, locating records
that are computerized is faster than finding themin the filling cabinet (Magat,
2007).According to Gemma Navarro (2012) Computer is general purpose device
whichcan be programmed to carry out a finite set arithmetic or local operation.
Computer has
a big rule in our nation today because of our technology. Wherever you go comput
er stillexist, especially in business it makes the procedure easy and secure by
programming themanual system into a computerizing system. The rule of
technology in our life today hasa big impact.
Averion, Gaela, and Libo (2009) stated that inventory system help to minimizethe
difficulty of the manager in processing inventory because physical counting
products,stocks and computing inventory summary will be the system job. It will
monitor theavailability of products, items to prevent under stocking, over stocking
and running out ofstocks. The system will also simplify the transaction between
dealer and supplierrelationship because of the updated supplier information and
price list of items willcorrespond to collaboration with
other supplier.”
According to the thesis of Carlo
Magno “There was a ground swell to move from
paper signature and documents because the task of record management was huge.
We hadfile cabinets full of backup materials. By converting from manual process,
we would beable to eliminate a lot of paper. We could go further with the
automation of manual process and remove manual paperwork if people trusted the
technology.According to J.De Leon and M. Ferrer (2009) Under the Koread
RedGinsengEnterprise Sales and Inventory System, the researchers came up with
acomputerized salesand inventory system. The proponents used database toeasy
access of files and for easierand faster processing of the selling andinventory
transaction. The program wasdesignated to generate reports such asmonthly
reports, inventory reports, sales invoiceand list of items.