Software Project on Inventory Management
Software Project on Inventory Management
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INNER TITLE PAGE
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DECLARATION
In our opinion, it is satisfactory and up to the mark and therefore fulfills the requirements
of BS in Computer Sciences.
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DEDICATION
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ACKNOWLEDGEMENT
All gratitude and thanks to Almighty Allah, the gracious, the most merciful and
beneficent, who gave us courage to undertake and complete this task. We are very much
obliged to our ever caring and loving parents whose prayers have enabled us to reach this
stage.
We are grateful to almighty Allah who made us able to complete the work presented in
this project. It is due to HIS unending mercy that this work moved towards success.
We hereby take this opportunity to express our deep gratitude to our beloved teachers
whose encouragement is the main source of guidance to complete project successfully.
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Table of Contents
INNER TITLE PAGE ................................................................................................................... 2
DECLARATION ........................................................................................................................... 3
DEDICATION ............................................................................................................................... 4
ACKNOWLEDGEMENT ............................................................................................................. 5
1.ABSTRACT ................................................................................................................................. 7
2.INTRODUCTION....................................................................................................................... 8
2.1-Project Statement ................................................................................................................... 9
2.2-Objectives, Scopes and limitations of Project: ...................................................................... 9
2.3-Software Type and Methodology: ....................................................................................... 10
Introduction of Topic: ................................................................................................................ 13
Introduction of Relevant Sector / Industry:................................................................................ 14
Information of Related Software: .............................................................................................. 14
3.LITERATURE REVIEW ........................................................................................................ 15
3.1 Literature Review on Point of Sale................................................................................. 15
4.ANALYSIS AND DETAILED DISCUSSION ....................................................................... 19
4.1 Analysis of Project & Organization: .................................................................................... 19
4.2 Analysis of Sector and Industry: .......................................................................................... 29
5. CONCLUSIONS AND RECOMMENDATIONS ................................................................. 30
5.1 Findings ............................................................................................................................... 30
5.2 Conclusion ........................................................................................................................... 31
5.3 Recommendations & Suggestions ....................................................................................... 32
BIBLOGRAPHY ......................................................................................................................... 33
ANNEXURES............................................................................................................................... 34
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1.ABSTRACT
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2.INTRODUCTION
Effective inventory management is important as not only is inventory one of the most
valuable assets to a business; there is a direct link between inventory levels and company
profits. Inventory represents an investment that is tied up until either the item is sold, or it
is used in the production of another item that is sold. Businesses are reliant on having items
in stock; otherwise customers will simply go to a competitor who can provide what they
want.
However, holding inventory in stock is not without costs – storage, insurance and
maintenance all must be considered. When it comes to replenishing stock levels, most
management plans seek to strike a balance between having enough units when required,
and ensuring supplies are not overstocked. This is why having an inventory management
system can be advantageous.
An inventory management system monitors all aspects of a company’s inventory as items
move through the production and sales process. The process involves tracking customer
orders, shipping, costs, stock and sales. Whether or not a business has some form of
inventory software in place, there are some critical elements every system needs in order
to function efficiently. This includes well-organized location names, easy to read and
unambiguous location labels, unique item numbers, units of measure, a good starting count,
good policies and – most importantly – people who know and can follow those policies.
On top of all these things, a software system that tracks all inventory activity can be used,
as keeping track of inventory data by hand or in a spreadsheet often doesn’t cut it. Good
inventory management software can make it easier to track stock and provide different
people with access to the data, as well as offer a detailed insight into the inventory activity
of a business. It also provides an accurate historical record of inventory movements and
sales.
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All of the factors mentioned above will help businesses to keep costs in check, allowing
them to maintain a suitable amount of stock, set targets and monitor profits efficiently. As
inventory is one of the most important assets a business has in its arsenal, an adequate
inventory management system will help a business to track those assets and control them
accordingly.
2.1-Project Statement
Inventory Management System is selected as project, and named it as “Up-Serve Inventory”. The
reason of selecting this topic as my final year project is because a lot of people and business man
are doing a lot of paper work every day we use a lot of man power for utilizing and managing the
business and all financial data.
Point-of-Sale module (POS) can be used to create Cash Receipts, Invoices, and receive A/R
Payments. In addition, you can create returns for Receipts and Invoices. The POS system replaces
the cash register in a retail store.
The POS system can track sales by various payment methods like cash, checks, credit cards,
coupons, and gift certificates.
The POS system requires that users have the Accounts Receivable and the Inventory modules. For
example, POS will update inventory sold figures in Inventory, or the salesperson’s commission in
Accounts Receivable. In addition, if you want to create Sales Orders, you will need the Order Entry
(O/E) module. Other modules are optional.
- Objectives:
The first objective of the POS Systems is to help in the management of your
business’ inventory. When conducting sales, most of the payments will be done
through the use of a credit card. Most of the systems make use of the barcodes to
track, receive and sell inventory products. This will enable the point of sale system
that you are using to collect all these data and use it.
- Scope:
Many companies use inventory systems in their production or retail operations
to manage inventory levels. Inventory might be one of a company's most valuable
assets and systems to manage it provide the foundation to meet customer demand.
Each inventory system falls within a specific scope and has certain limitations
that management must understand in order to choose the best system for the
company.
- Inventory systems provide a basis for recording sales, purchases. and the quantity
for each item at the end of the accounting period. The two primary inventory
systems are the periodic system and the perpetual system. The periodic system
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records the inventory only at the end of each period, leaving the balance
unchanged throughout the period. Since counting inventory takes time, smaller
businesses are more likely to use the periodic system. The perpetual system, in
contrast, adjusts the inventory balance each time a transaction, such as an
inventory purchase or a sale, occurs, and it provides real-time information.
- The scope of an inventory system can cover many needs, including valuing the
inventory, measuring the change in inventory and planning for future inventory
levels. The value of the inventory at the end of each period provides a basis for
financial reporting on the balance sheet. Measuring the change in inventory
allows the company to determine the cost of inventory sold during the period.
This allows the company to plan for future inventory needs.
- Limitations
An inventory management system can make or break your small business
performance. Products and services that depend on raw materials, parts and other
supplies need consistent inventories to operate effectively and to maximize
profits. The nature of the business and its industry may dictate the most suitable
type of inventory system, but bear in mind that all such systems come with
inherent limitations. Most businesses can adjust the inventory process to meet
their needs while limiting the impact of system limitations.
Here are some of the limitations of this POS software
- This software is designed in C-sharp programming language and can only work
on Windows Operating system
- In this software we don’t have options of barcode that’s why we have to add
inventory manually at the time of sale or purchase.
- We can use this POS software on only one Computer and its only for One Small
retail shop.
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2. Spiral Model:
Spiral Model is Waterfall model plus risk analysis
Each stage in spiral model is preceded by identification of alternatives and risk
analysis and is then followed by evaluation and planning for the next phase.
If risks cannot be resolved, project is immediately terminated.
Project estimates in terms of schedule, cost etc. become more and more realistic as
the project moves forward and loops in spiral get completed.
Risk management is one of the in-built features of the model, which makes it extra
attractive as compared to other models
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3. Adopted Methodology:
We adopt the combination of spiral model and waterfall model. The main idea of
this model is to avert risk as there is always an element of risk in development of
software.
In its simplified form, the spiral model is waterfall model plus risk analysis. In this
followed by evaluation and planning for the next phase.
Reasons of choosing the Methodology:
As we know that ever model have advantages and also disadvantages in accordance
with the project requirements. We should choose the right type of the Model to
implement based on the scope of the software project. This depends on a number
of factors, some of which are the scope of the project, project budget, environment,
available resources. But after studying the requirements of the project we choose
Hybrid process model which is a combination of waterfall and spiral models
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- The spiral model or the spiral development model combines the best of the both
top down and bottom up approaches and is specifically risk-driven. In essence the
spiral model is a combination of the classic waterfall model and risk analysis
- The Spiral Model Provides a rapid development and at the same time, incremental
versions of the software application
- The combination of waterfall and spiral models allows for feedback and
creativity.
- In spiral model, the project life cycle is divided into phases, and each phase is
executed in all of the iteration of the spiral model.
Unlike the waterfall model, where milestone is reached in a very linear manner,
and you are not allowed to backtrack,
Introduction of Topic:
Inventory management is an important aspect of any successful business. It is the process
of overseeing and controlling the flow of inventory units a business uses in the
production or manufacture of goods for sale or distribution. Inventories are usually made
up of a combination of goods, raw materials and finished products, and effective
management of these items is essential to ensure optimal stock levels and to maximize
the earning potential of the company. It also allows a business to prevent or mitigate any
inventory-associated losses. Inventory management software is used by businesses for
various reasons: it can track the costs of inventory throughout the manufacture and sales
process, tell businesses when to replenish stock, and allow them to track profits. It can
also be used to forecast inventory levels and prices, as well as expected product demand.
Effective inventory management is important as not only is inventory one of the most
valuable assets to a business; there is a direct link between inventory levels and company
profits. Inventory represents an investment that is tied up until either the item is sold, or it
is used in the production of another item that is sold. Businesses are reliant on having
items in stock; otherwise customers will simply go to a competitor who can provide what
they want.
However, holding inventory in stock is not without costs – storage, insurance and
maintenance all must be considered. When it comes to replenishing stock levels, most
management plans seek to strike a balance between having enough units when required,
and ensuring supplies are not overstocked. This is why having an inventory management
system can be advantageous.
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count, good policies and – most importantly – people who know and can follow those
policies.
On top of all these things, a software system that tracks all inventory activity can be used,
as keeping track of inventory data by hand or in a spreadsheet often doesn’t cut it. Good
inventory management software can make it easier to track stock and provide different
people with access to the data, as well as offer a detailed insight into the inventory
activity of a business. It also provides an accurate historical record of inventory
movements and sales.
All of the factors mentioned above will help businesses to keep costs in check, allowing
them to maintain a suitable amount of stock, set targets and monitor profits efficiently. As
inventory is one of the most important assets a business has in its arsenal, an adequate
inventory management system will help a business to track those assets and control them
accordingly.
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3.LITERATURE REVIEW
A literature review is a scholarly paper, which includes the current knowledge including
substantive findings, as well as theoretical and methodological contributions to a particular
topic. Literature reviews are secondary sources, and do not report new or original
experimental work.
Finger S and Dixon (1990) says that formal design research seems to have begun in the 1960’s,
with so-called “first generation” models used to attempt to find generic optimization routines
that could be applied to any type of problem. The architectural models tended to include cognitive
processes, while engineering models attempted to define stages in the design process.
Desmet and Hekkert (2007) say that surprisingly little is reported on the pragmatic influence of
project stakeholders on industrial designers’ selection of product materials and manufacturing
processes. This paper reports on a descriptive scoping study that revealed these influences as
critical in making effective selection decisions. Using interview and case study methods, the study
elicited the professional practices of industrial designers.
This paper, Kim and Kang (2008), identifies the critical factors of cross-functional cooperation for
design teams in new product development. The empirical research available defines eleven
critical success factors for the achievement of effective cross-functional teamwork with design
teams in NPD and provides evidence of the positive relationships of these factors with cooperative
work performance.
Davis (2008) identifies the pressures on knowledge generation exerted by the shift from a
mechanical, object centered paradigm for design practice to one characterized by systems that:
evolve and behave organically; transfer control from designers to users or participants; emphasize
the importance of community; acknowledge media convergence; and require work by
interdisciplinary teams to address the complexity of contemporary problems.
Forlizzi (2008) introduces Product Ecology as a theoretical design framework to describe how
products evoke social behavior, to provide a roadmap for choosing appropriate qualitative
research methods and to extend design culture within by allowing for flexible, design-centered
research planning and opportunity-seeking. This product-centered framework is illustrated as a
method for selecting a set of design research methods and for working with other research
approaches that study people in naturalistic settings.
Jerrard and et al (2008) research elicited the risks and risk perceptions involved in designing and
developing new products. Design practices will be able to identify with common practices and
utilize techniques in the research in order to recognize risk in design processes.
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Stolterman (2008) based on a comparison between the notion of complexity in science and in
design, it is argued that science is not the best place to look for approaches and methods on how
to approach design complexity. Instead, the case is made that any attempt by interaction design
research to produce outcomes aimed at supporting design practice must be grounded in a
fundamental understanding of the nature of design practice.
Heskett (2009) examines the influence of major economic theories in shaping views of what
constitutes value as created by design system. Its focus on markets and prices as set by market
forces are believed to solve all problems if left free from government interference. The implosion
of this system and its emphasis on unrestricted individualism is a crisis of theory as well as
practice.
This paper, Thomas Tieke(2009), we propose a framework for understanding congruence effects
in design based on recent studies addressing processing fluency. Based on these findings, the
authors propose that incongruence thwarts impression formation of product and brand by
inducing ambiguity, thereby negatively affecting attitude formation.
Vendanand Sakthidhasan (2010) addresses the application of lean manufacturing concepts to the
continuous production sector with a focus on the motor manufacturing industry. The goal of this
research is to investigate how lean manufacturing tools can be adapted from the discrete to the
continuous manufacturing environment.
Jha (2012) presents an overview of new approaches in rapid product development in production
networks from design points of view. Due to evolution of production networks, it has become
possible to obtain the mass production within a key short time, using emerging technology that
affect the speed and efficiency of product development.
Didonet and Díaz, (2012) explains, the supply chain management studies have verified that
integration and collaboration in the supply chain can provide important benefits to the companies
involved. Among these benefits are added value, the creation of efficiencies and client, which are
represented by the reduction in inventories, improvements in service delivery and quality and
shorter product development cycles
Zabala (2012) investigates whether decisions considered as common in new product development
literature are also valid in a region characterized by traditional industries. The author aims to link
the theoretical and empirical fields in the context of new product development and product
innovation management.
Babazadeh (2012) studies a multi-period, multi echelon and multi-product integrated forward-
reverse logistics network under uncertainty. First, an efficient complex mixed-integer linear
programming (MILP) model and then stochastic counterpart of the proposed MILP model.
Internal rate of return (IROR) method as a decision-making tool receives widespread use and
acceptance in economic analysis. Ahmad and Khaldoun (2011) research aim at presenting a
realistic approach for resolving the multiple rate of return (MROR) problem. The key advantage
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of the proposed approach is that it reflects real life opportunities and its decisions are consistent
with worth methods as well as with other approaches.
Berrah and François (2012) paper deals with the wide issue of overall performance expression of
a system made of interacting entities. Supply chain being a network of interconnected business
entities, it is proposed to consider it as a system of systems. Because system behavior depends
Antonelli et al. (2013), aims to identify Information Technology benefits in individual work. With
technologies fully implemented, greater satisfaction was observed for all constructs of the survey,
with statistically significant differences. The researchers concluded that comparing age, it was
found that younger users were more satisfied with the benefits of technology. Concerning the
number of employees, small business users were less satisfied with Information Technology.
Alderete (2013) presents an econometric model to determine whether an SME (Small and
Medium Sized Enterprise)’s probability of outsourcing depends on their levels of innovation and
information and communication technology use. The model predicts that the level of innovation
of an SME will significantly influence its probability of outsourcing. Besides, it stresses the negative
incidence of the information and communication technologies (ICT) access on the outsourcing
decision.
Nezhad (2013) employed the decision on belief (DOB) approach for fault detection in univariate
process control. The concept of DOB and its application in decision making problems were
introduced, and then methodology of modeling fault detection in statistical process control by
DOB approach was discussed.
Cheng (2013) proposes a multi-objective production planning optimization model based on the
point of view of the integration of production planning and control, in order to achieve
optimization and control of enterprise manufacturing management.on process dynamics, the
performance of any company of the SC highly depends on the performance of its processes.
Leber (2014) reports the results of a survey on the use of innovation management techniques
with the potential to improve effectiveness of new product development, and customer
satisfaction. Failure mode and effects analysis was found as the most applied IMT in Slovene firms
with the highest perceived utility potential to reduce development costs and improve customer
satisfaction.
Dou (2014) paper is committed to design a logistics industry development policy model based on
system dynamic to simulate the policy measures which promote region economic and logistics
efficiency. The interaction between logistic industry development policy and economy needs to
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be investigated and the influence degree of logistic efficiency affected by industry policy needs to
be identified too.
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4.ANALYSIS AND DETAILED DISCUSSION
Purpose of Project:
Inventory Management must be designed to meet the dictates of market place and support
the company’s Strategic Plan. The many changes in the market demand, new opportunities
due to worldwide marketing, global sourcing of materials and new manufacturing
technology means many companies need to change their Inventory Management approach
and change the process for Inventory Control.
Functional Requirements:
User will be log-in with a username and password in order to use the system
The system will be able to record the sale of an item
The system will be able to capture purchase information by manual entry of a product id
and quantity
Will be able to register new members i.e. create and store a membership record
Allow for the searching and retrieval of a record using various fields for e.g. customer
name, customer id, etc.
Display the title and price of an item
Display membership details
Allow for the editing of member details (e.g. Change of address)
Automated warnings on low stock levels
Display member’s/customer’s account details, status etc.
Reduce inventory quantities automatically when a sale /rental is committed
Add item to shopping/rental cart at the time of selling an item
Remove or update items in database
generate total-sales reports with all of transactions order by datetime
generate reciept and can work with any printer, like thermal printer or inkjet printer etc.
can add any other employee
employee will have less access than admin account
employee will be able to make sale / purchase, but will not be able to delete any product
or transaction from database
Non-Functional Requirements:
The size of the system is not too much bigger, and its friendly for any version of
Windows operating system.
The interface is fully friendly and user can easily access any option in this software, as all
of the options are well placed
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This software works very quick, and will require no loading, it will be reliable for all
activities.
Ease of use is very simple of this software because in this all options and shortcuts follow
the keys from windows software, so a customer who works on widows can easily use all
shortcut keys and can easily work on this software.
The system should be performing its functions not only in usual routines but in
unexpected circumstances as well.
From the security point of view the system should have an identity confirmation system
in order to keep the user’s information secure.
Any unauthorized access to the application is not allowed
User must allow accessing the concerned information only.
User’s personal information should be secured and can’t be viewed either by the admin.
The ability of a system to perform and maintain its functions in routine circumstances, as
well as hostile or unexpected circumstances.
The system will prevent the users from errors and allow error recovery. The system will
ensure that user can only access data and services for which they have been properly
authorized.
It’s can easily run only 256 MB of RAM
The system must be capable to provide the back-up if any disastrous incident occurs. The
backup should be taken on daily basis.
The system must keep log files of all errors that occur during implementation of system
to have a look on these errors.
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Usage Scenarios:
Use Case Title Log In
Use Case id 1
Description: This use case is about accessing the POS application, The user must
provide a valid email and password to log in to system
Pre-Conditions:
1. Email and password is provided and is valid
2. Email and password is provided and not valid
Task sequence Exceptions
Admin / Employee enters email, password and select
User type and clicks the login button
System asks for necessary information
Preconditions:
- The Admin / Employee log into the system successfully
Unresolved issues:
- The email / and password is invalid
Modification History: 1.0
Author: Admin / User
Preconditions:
- The Product inserted successfully.
Unresolved issues:
- The product doesn’t post
Modification History: 1.0
Author: Admin
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Use Case Title Manage Posted Inventory
Use Case id 3
Description: This use case is about updating and deleting any product that admin
added in inventory
Pre-Conditions:
2. Admin must be logged into the system
Task sequence Exceptions
4. Admin logged into the system
5. Admin have to go to the Manage Inventory option
6. System ask for the necessary information
Preconditions:
- The Product updated successfully.
- The Product deleted successfully.
Unresolved issues:
- The Product doesn’t delete
- The Product doesn’t update
Modification History: 1.0
Author: Admin
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Preconditions:
- The Category inserted successfully.
- The Category updated successfully.
- The Category Deleted successfully.
Unresolved issues:
- The Category doesn’t insert.
- The Category doesn’t update.
- The Category doesn’t delete
Modification History: 1.0
Author: Admin
Pre-Conditions:
5. Admin must be logged into the system
6. Admin have to go to Transactions option from menu
Preconditions:
Unresolved issues:
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Use Case Title Sales / Purchase
Use Case id 6
Description: This use case is about managing Sales / Purchase
Pre-Conditions:
7. Admin / Employee must be logged into the system
8. Admin / Employee have to go to Sales / Purchase Option
Preconditions:
Unresolved issues:
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Introduction of Design Document:
Analysis and design phase are extracted from Software Development Life Cycle (SDLC).
The analysis phase involves gathers requirements and resources of system according to
users and makes relevant system. In analysis section, it addresses security consideration.
Key activities for this phase include:
Conduct the risk assessment;
Analyze security requirements;
Perform functional and security test;
Design phase must be user friendly. Design phase refers to the correctness of your
system. Analysis are mold into design phase later. Design of the system must be detailed.
Physical design and its correlation to graphical user interface must be good. Design of the
system must be detailed.
This document describes the process followed for Detailed Analysis and Design Phase of
the Project Home Remedies (HR). It provides the programmer with enough information
to successfully code all the modules and functions necessary in delivering the Home
Remedies (HR) application.
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Entity Relationship Diagram:
Sequence Diagrams:
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Architectural diagram of the System:
Class Diagram:
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Database Design:
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4.2 Analysis of Sector and Industry:
POS software is a software that can be used in wholesale businesses. And it helps a lot in
wholesale businesses or departmental stores, because it saves too much time of users that
have to manually save all the data. Here they don’t have to save records manually here they
have to put purchase and sales data and other things can be done by this software, hence
this software is making Businesses greater and better every day, by helping them a lot in
their financial management and other management.
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5. CONCLUSIONS AND RECOMMENDATIONS
5.1 Findings
Test Case # 1 Testing for log in for Administrator.
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4. The Product added successfully
5. Use case ends.
Expected Results The Product is added successfully.
Tested By
Results Pass.
Tested By
Results Pass.
5.2 Conclusion
CONCLUSION Inventory management has to do with keeping accurate records of goods
that are ready for shipment. This often means having enough stock of goods to the
inventory totals as well as subtracting the most recent shipments of finished goods to
buyers. When the company has a return policy in place, there is usually a sub-category
contained in the finished goods inventory to account for any returned goods that are
reclassified or second grade quality. Accurately maintaining figures on the finished goods
inventory makes it possible to quickly convey information to sales personnel as to what is
available and ready for shipment at any given time by buyer. Inventory management is
important for keeping costs down, while meeting regulation. Supply and demand is a
delicate balance, and inventory management hopes to ensure that the balance is
undisturbed. Highly trained Inventory management and high-quality software will help
make Inventory management a success. The ROI of Inventory management will be seen
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in the forms of increased revenue and profits, positive employee atmosphere, and on
overall increase of customer satisfaction.
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BIBLOGRAPHY
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ANNEXURES
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