Inventory management

About Inventory management system

1. Inventory Management System - Avishekh Bharati

2. Inventory ˈ ɪnv (ə) nt (ə) ri / noun :  inventory ; plural noun:  inventories a complete listing of merchandise or stock on hand, work in progress, raw materials, finished goods on hand, etc., made each year by a business concern. Synonyms: List, catalogue, directory, record

3. Types of Inventory Raw material Raw material Work in progress Work in progress Work in progress Work in progress Work in progress Work in progress Work in progress Work in progress Work in progress Finished goods C u s t o m e r Firm or Organization C u s t o m e r

4. Inventory Management : Why? Inventory management is a science primarily about specifying the shape and percentage of stocked goods. Reasons Avoid Stock-Outs Avoid Excess Inventory Move Goods Efficiently Maximize Profit Margin

5. Tasks involved Track inventory To look after the amount of inventory i.e. stock coming into the business. How much to order? To specify units of inventory to be used by organization. When to order? Specify the duration of getting the inventory.

6. ER diagram

7. Inventory Management Systems A computer-based  system  for tracking  inventory  levels, orders, sales and deliveries. TradeGecko inFlow iMagic Inventory Inventory Tracker Plus Inventoria Stitch Ordoro Inventory Pro Source: http://inventory-software-review.toptenreviews.com/

8. Advantages Improves accuracy of inventory orders More organized warehouse Saves time and money Increases efficiency and productivity Keeps your customers coming back for more

9. Screenshot

10. References Top Five Benefits of a Good Inventory Management Strategy | Inventory Management Systems. 2015.  Top Five Benefits of a Good Inventory Management Strategy | Inventory Management Systems . [ONLINE] Available at:  http://www.scanco.com/top-five-benefits-of-a-good-inventory-management-strategy/ . [Accessed 07 July 2015 ]. Inventory Management Definition & Example | Investing Answers. 2015. Inventory Management Definition & Example | Investing Answers . [ONLINE] Available at:  http:// www.investinganswers.com/financial-dictionary/financial-statement-analysis/inventory-management-5999 . [Accessed 07 July 2015 ]. Inventory Management System. 2015.  Inventory Management System . [ONLINE] Available at: http ://www.slideshare.net/pratikslideshare1/inventory-management-system-25878761?qid=8c582be6-a0c6-4e9e-9cfe-2983bf0eecad&v=qf1&b=&from_search=2 . [Accessed 07 July 2015].

11. - Thank you !