Contents

• Introduction

• Objective

• Block diagram

• Methodology

• Tools used

• Advantages and disadvantages

• Application of project

• Reference
 Introduction

• An inventory management system has several critical components. At its core,

inventory control works by tracking the two main functions of a warehouse:
receiving (incoming) and shipping (outgoing). Other activities such as the
movement or relocation of inventory also take place. Raw materials are
decremented and finished goods are incremented.

• Incoming shipments

• Outgoing orders

• Inventory

• Suppliers

• This web application is actually made by PHP which is very strong nowadays.
All the customization are done from inside of this Project Inventory
Management System. Thus, all the changes are saved on the project side, so
that you will be able to maintain the project and upgrade it in the future easily
and quickly.
 Objectives

An inventory management model or system serves many purposes when introduced

in an organization by making the work easier and simplified.

• It helps in minimizing the capital investment which gets stuck up due to

maintaining the excessive stocks. The actual requirement would be estimated
and the stock will be maintained accordingly. Hence, there would be no
excessive stocking.

• This method uses a scientific way for calculating inventory. This leads to a
more accurate result and hence helps in maintaining better stocks.
• Owing to the calculations for maintaining stocks, the fluctuations occurring in
the demand of the inventory can be managed as there is maintained a safety
stock all the time within the organization.

• A proper record of all the loss or the consumption of the stock is maintained at
all the times which helps in turn to replenish the stock as and when required.

• The inventory which is transported between various locations like the

warehouse and production area etc and be easily tracked with the help of
this inventory tracking management system.

• One of the most important purposes is to keep a track on the sales of the
product and the levels of inventory maintained. With this system in function, the
tracking can be easily done.
 Operational Concepts

• The Inventory Management System is a real-time inventory database capable

of connecting multiple stores.

• This can be used to track the inventory of a single store, or to manage the
distribution of stock between several branches of a larger franchise.

• However, the system merely records sales and restocking data and provides
notification of low stock at any location through email at a specified interval.

• The goal is to reduce the strain of tracking rather than to handle all store
maintenance.

• Further features may include the ability to generate reports of sales, but again
the interpretation is left to the management.

• In addition, since theft does occasionally occur, the system provides solutions
for confirming the store inventory and for correcting stock quantities.
 2. Technology Used

Front End Technologies: HTML, CSS, JavaScript

Back End Technologies:

Language: PHP
Database: MYSQL
Server: Apache
 Features:

• Login system
• Add, List, View and Delete items, stocks
• Expired Items
• Daily Sales
• Generates Report in PDF
 Advantages

• Improves the accuracy of inventory orders. Proper inventory management

helps you figure out exactly how much inventory you need to have on-hand.
This will help prevent product shortages and allow you to keep just enough
inventory without having too much in the warehouse.

• Leads to a more organized warehouse. A good inventory management

strategy supports an organized warehouse. If your warehouse is not organized,
you will have a hard time managing your inventory. Many companies choose
to optimize their warehouses by putting the highest selling products together
and in easily accessible places in the warehouse. This, in turn, helps speed up
the order fulfillment process and keeps customers happy.
• Helps save time and money.

Inventory management can have real-time and monetary benefits. By

keeping track of which products you have on-hand or ordered, you save
yourself the effort of having to do an inventory recount to ensure your
records are accurate. A good inventory management strategy also helps
you save money that could otherwise be wasted on slow-moving
products.

Increases efficiency and productivity.

Inventory management devices, such as barcode scanners and inventory

management software, can help drastically improve your efficiency and
productivity. These devices will help eliminate manual processes so your
employees can focus on other – more important – areas of the business.
 Order management:

• With the help of a proper and effective inventory system, an adequate amount
of inventory can be maintained at all times.

• The system raises an alarm in the case where the inventory drops down a
specific threshold limit or exceeds over and above the prescribed limit. In both
the conditions, due steps are taken and the needful is done.
 Asset tracking:

• In the case where there is a requirement of a specific product/ raw material and
it is not easily traceable with the naked eye or is stored in the warehouse, then
in that case measures are taken and the location of the same is identified using
the software.

• This easy tracking of the product helps a great deal in saving the time and
energy of the person incharge of finding it and the same can be invested
somewhere else and productivity can be reaped.

• The identification in such a case can be made through serial number, barcode
etc.
 Inventory optimization:

• An inventory management methods helps a great deal in optimizing the

inventory. It helps in deciding the reorder point for a manufacturing process,
i.e., when should the fresh order for inventory be placed along with the
appropriate quantity of inventory.

• It also helps in managing the stock in hand as well the days for which the stock
will be available in case there arises some emergency due to which the fresh
order cannot be placed for new stock.

• All of these features of the inventory management system make it one of the
most important systems which should be integrated within any business for
better productivity and more efficient results.
 Other Advantages

• Cost saving:

• Saves time:

• Increased efficiency

• Warehouse organization

• Updated data

• Data security
 Cons or Disadvantages of ERP Inventory Management Software:

• Although the system renders end number of advantages to the business, but
along with the positive points there are few negative points as well.

• Expensive:

• Extremely beneficial in many aspects, this management software is available

in the market at a high cost.

• Although the system provides such great features and makes the entire
business a lot better and efficient, but all this comes at a cost.

• Big time businesses are able to cover up the cost or the one time investment in
some time but in the case of small or medium-sized business, it is at times not
feasible to maintain such software.
• Complexity:

• Although the use of an inventory management system makes handling the

inventory quite easy but learning how to operate it is quite a task.

• Special training sessions and manuals should be adhered to, in order to

successfully operate the system.

• Learning how to operate the system can be lengthy, cumbersome as well as

complex.

• But once successfully installed and training completed, it can prove to be a

blessing for the business and it helps a great deal in the smooth operation.

• Limited elimination of business risk:

• Although the management system helps the business in eliminating many

kinds of risk, but even after using the system, the business is open to many
other risks.
 Reference

• http://www.google.com/
• https://www.wikipedia.org/
• http://php.net/
• https://www.w3schools.com/
• https://www.mysql.com/
• https://www.w3.org/Style/CSS/Overview.en.html
• https://en.wikipedia.org/wiki/Application_lifecycle_management