The Development and Evaluation of Bookstore Inventory Management Systems

for Lyceum of Alabang Inc

A Research Paper

Presented to the Faculty of 

Senior High School Department

Lyceum of Alabang

In Partial Fulfillment

of the Requirements in

Practical Research 2

By:

Shantel Anne B. Corpuz

Siena Langki

Annie Mae O. Nocito

Carmelita Jayne C. Guina

Dem William C. Alcantara

Jose Virgilio G. Ranario

 December 2022

CHAPTER 1

The Problem and Its Background

Project Context

The Book inventory management system is a system for speeding up the production

process and to check if there are more stocks or not and to know how much the price of

each purchase and what will be its total. Mainly focuses on the activities of a bookstore

such as information on books and books sold to customers. The database flexibility,

convenient features, the maximum increase in customer service, access to accurate

information make this ideal for all sizes of bookstores and the cost of inventory on hand,

as stated in an organization’s accounting records. This amount is compared to the

actual inventory on hand to see if there are any discrepancies in the accounting records,

which can indicate procedural or control problems that should be corrected.

The researchers used POS for inventory system Point of Sale Sell products directly to

customers and receive payment. Access clear information that is up to date to make

informed decisions on purchasing more of certain items and less of others.

The researchers conducted an observation and research. Nowadays, modern book

retailers require a powerful, easy-to-use bookstore point of sale system designed to

handle a variety of products including books, gifts, toys & games, and other specialty
items. Celerant’s new and used book inventory software includes all the functionality

bookstores need to run their business more efficiently, including a direct integration with

leading distributors such as Ingram; allowing you direct access from your POS to live

product inventory from 30,000+ publishers available for special orders & drop shipping.

With a mobile POS device that also functions as a bookstore inventory management

software, you can assist customers from anywhere in your store. The book inventory

management software the researchers will develop will allow the users to special order

products, look up prices, access inventory levels, process sales transactions with EMV

chip card readers, accept returns, put sales on hold, offer gift receipts and more. Books

open a world of possibilities. Unfamiliar places, ideas, cultures, and more. The printed

word remains vital in our ever-changing world, but how does your business remain

current while delivering the goods and services that your customers expect? This is the

Digital Age, and consumers’ expectations are constantly changing and growing beyond

what previous generations could have even conceived of.

Inventory management is to ensure there is enough goods or materials to meet demand

without creating overstock, or excess inventory. Inventory Management system

provides information to efficiently manage the flow of materials, effectively utilize people

and equipment, coordinate internal activities, and communicate with customers.

Inventory Management does not make decisions or manage operations, they provide

the information to managers who make more accurate and timely decisions to manage

their operations. inventory as the blocked Working Capital of an organization in the form

of materials. As this is the blocked Working Capital of the organization, ideally it should

be zero. But we are maintaining Inventory. This Inventory is maintained to take care of
fluctuations in demand and lead time. In some cases, it is maintained to take care of

increasing price tendency of commodities or rebate in bulk buying. Traditional Supply

Chain solutions such as Materials Requirement Planning, Inventory Control, typically

focuses on implementing more rapid and efficient systems to reduce the cost of

communicating information between and across the Inventory links in the SCM.COM

focuses in optimizing the total investment of materials cost and workload for every

Inventory item throughout the chain from procurement of raw materials to finished

goods Inventory. Optimization means providing a balance of supply to meet the demand

at a minimum total cost, Inventory level and workload to meet customers service goal

for each item in the link of Inventory Chain. the process by which you track your goods

throughout your entire supply chain, from purchasing to production to end sales. It

governs how you approach inventory management for your business.

Based on the study The truth is that just as demands have been going up, technology

and the means of providing for those demands have also been steadily increasing while

also becoming more readily available to a greater number of businesses. Even small

and medium-sized businesses now have access to the same inventory software and

other tools that large organizations do. And that is welcome news as we turn the page

on history and enter a new world of book inventory software.

Background of the Study

To most Grade 12 ICT students, challenges are something difficult that you feel

determined to solve or achieve and closely combined with development and evaluation.

This qualitative research study aimed to better understand the information and system
encountered by Grade 12 ICT students in their journey of learning development of

system management. 

 According to Hollerith's ideas, Harvard University created the first modern POS system

in the 1930’s. Punch cards corresponding to catalog products were used to create

invoices and manage inventory. In 1932 a Harvard University Business Administration

team led by Wallace Flint produced the first known automatic checkout/inventory control

design. Their system never got further than Flint's master’s thesis, but it was in some

ways superior to actual systems that see action today.

In fact, the earliest form of inventory management dates back over 50,000 years in

which people used “tally sticks” to count. Archaeologists have also discovered the use

of clay tokens dating back approximately 4,000 years ago.

The origins of inventory management are obscure, but it is safe to say that some of the

first pioneers in the field were merchants and shopkeepers. Pre-industrial inventory

management was very primitive. Shopkeepers and merchants had to rely on

handwritten notes and intuition when ordering. Proving stolen goods was exceedingly

difficult. It takes hours or days for the store owner to manually count all the physical

inventory to see if anything is missing. In all fairness, we were a smaller business back

then than we are now, so we did not feel pressured to be more efficient.
The Industrial Revolution completely changed the production process, increasing

efficiency and lowering unit costs. Lower unit prices and higher living standards have

created a boom in the consumer goods industry. Inventory is driven by demand, and

now that more people have disposable income, demand for goods has increased. High

volume production and improving the customer experience at the point of sale have

become the company's focus.

In 1889, Herman Hollerith invented the first machine-readable punch his card. Punching

tiny holes in paper has made it possible to record data for a variety of purposes, from

census to timesheets. Harvard University was inspired by Hollerith's ideas in the 1930s

to create the first modern his POS system. Punch cards corresponding to catalog

products were used to create invoices and manage inventory. The customer fills out the

punch card, the computer reads it, and the information is sent to the warehouse.

Warehouses deliver goods to customers. A version of this system is still used today for

expensive and controlled items such as pharmaceuticals, but its prohibitive cost and

long lead times make it less popular.

The predecessor of the current barcode was developed in the late 1940s and early

1950s. It consisted of a UV sensitive ink and a reader. Unfortunately, technology had

not yet caught up to their ideas, and the systems were too bulky and lacked the

processing power needed to succeed. In the 1960s, a group of retailers came together

to develop a modern inventory tracking barcode. Lasers made cheap and fast scanners

possible. The first barcode was born in the late 1960s and is the universally accepted
Universal Product Code (UPC). On June 26, 1974, at a Marsh supermarket in Troy,

Ohio, the first item whose barcode was scanned was his 10-pack of juicy fruit.

Technological advances in the 1980s and his 1990s made inventory tracking even more

efficient with the introduction of more advanced computers and software. These

systems worked in a cycle of purchasing, tracking, and monitoring inventory, and back

again. With the spread of personal computers, the prices of barcodes and scanners

have dropped significantly. One of the reasons barcode inventory managements has

been slow to grow, especially among small businesses, is that businesses had nowhere

to store the information they collected. Manual inventory tracking is now being replaced

by scanning products and manually entering information into computers. In the early

2000s, inventory management software evolved further, removing the need for

businesses to manually enter data and allowing barcode readers to update databases

on the fly.

Radio Frequency Identification (RFID) technology, which he first patented in the 1970s,

has become a staple in warehouses, factories, and retail stores in the 2000s. A

microchip is used to send product information such as serial number, product type and

manufacturer to the scanner. Think of it as a more advanced barcode. Scanners can

read RFID tags without being in direct line of sight, making them ideal for reaching high

shelves in warehouses. It can also store more information than a simple barcode. Every

business needs an inventory management system, whether it is a 10-person business

or a multinational corporation. Contact Bar Code Direct today to book a consultation for

all your barcode and wireless mobility needs.

For students to perform at the level of which they are capable, they must first recognize

their areas of weakness and develop strategies to overcome them. System

development and evaluation subject often requires students to engage with material that

is both unfamiliar and difficult. Without strategies, students risk becoming overwhelmed

by the task of learning without necessarily understanding why they are learning and

what they are learning. Strategies help provide structure and organization to a student's

experience with a particular topic or body of work, allowing them to make sense of it in a

way that best suits their needs.

Conceptual Framework

Construct of the Study:

"Use the EOQ (Economic Order Quantity) and ABC (Always Better Control) analysis to

study the impact of the cost of inventory (raw material cost, holding cost, and ordering

cost) on profitability and sales."

Independent Variable:

COST OF INVENTORY

● HOLDING COST

● ORDERING COST

● RAW MATERIAL COST

Dependent Variable:

● SALES

● PROFIT(PAT)

Concentrating on Low Consumption Products

According to Wanke (2011a), inventory management is a series of choices

intended to balance the supply of goods and materials with the demand already in

place. By evaluating the products, operations, and demand characteristics, this is done

to reach specified cost and service level targets. This article's objectives are to examine

the demand pattern, which is the primary impediment to inventory control.

 First, an examination of the choice of inventory management models reveals that

they were first concentrated on manufacturing and distribution settings where demand

and lead time are more predictable (Wanke and Saliby, 2009). Somehow, low and

extremely low consumption products like replacement components generate particular

issues (Botter and Fortuin, 2000). Using the term "analysts," an extremely low

consumption component is one with an average annual consumption of less than one

unit. However, a number of authors, like Feeney and Sherbrooke (1996), employed the

low consumption model to manage the inventory of spare parts, and as a result, the

replenishment order is frequently requested to recompose the stock at the highest

possible level.

Secondly, the conceptual framework is to enable inventory management, which

combines low consumption models that are most appropriate for certain demand

patterns. Low-consumption goods ideal for goods with a historical average demand that

can range between one and three hundred–five hundred units annually. The most

accurate probability distribution functions and inventory management model are

contained in the conceptual framework. To close the gap between theory and practice,

analysts must manage experiments on their practical capabilities in organizations in

addition to developing conceptual frameworks. This will help analysts get more practical

information now that the complexity of the environment and the managerial efforts made

by businesses are more obvious.

Next, the conceptual framework created by the analysts in a significant Brazilian

firm will next be discussed. To calculate potential advantages from the suggested
conceptual framework for inventory management, a VBA (Visual Basic Analysis)

program was used for real data. The amounts of stock required to split into three

separate service levels are estimated in the case of low consumption products that

follow the Poisson or Gamma distributions.

Finally, if the inventory models proposed by the conceptual framework were

acceptable, the researchers' study developed some working assumptions to be able to

evaluate if improvements would occur in both financial and service level terms. The

study assumed that the goal stock for each item for low consumption was equal to the

average of the three largest demand peaks. According to the computed results, the

company efficiently uses the opportunity cost for the level of stock provided by the VBA

(Visual Basic Analysis) tool.

At end, conceptual framework aids managers in selecting the optimal stock policy

that will be acceptable given the features of the product demand. Therefore, varied

demand characteristics have led to the conceptual framework's proposal, which shows

that the assumption that demand follows the normal distribution is not always true and

that managers should consider other probability distributions.

Statement of the Problem

The study was directed towards its main objective to determine the Development and

Evaluation of Bookstore Inventory Management Systems for Lyceum Of Alabang Inc.

Specifically, it aims to answer the following questions:

1. What is the status of the Bookstore Inventory Management systems in terms of:

1.1 Software

1.2 Service

1.3 Management

2. What are the relationships between the Bookstore Inventory and Software Systems?

And how can the system provide sufficient innovation for this management?

3.  What are the factors to consider in developing an effective inventory management?

Scope and Limitation

This research will be covering up beyond the affected students of Grade 12

ICT within the school grounds. The general intent of this study is to further discuss

the factors why such development of the system is encountered by the Grade 12

ICT students regarding the bookstore inventory management system such a way

wherein it is necessary to go on the farther side of the topic. Other proposals were

excluded because other suggestions in this scope of study were explicit aspects

that give details on how in-depth it is. Though, this will be done with limited time

constraints and financial resources but still, this study aims to create an expansion

of ideas regarding the topic we are holding out.

 
Significance of the Study

 The underlying success of the study will be benefited to the following:

Students. This study would help them adapt different strategies to develop a better

system subject.

Academe. This study would serve as guide for them to know what part of the system

that students find it more challenge and difficult and help them to enhance and develop

students’ understanding in developing system subject.

Future researchers. This study would generate new knowledge that could serve as the

basis for further studies.

Definition of Terms

Weeks of Supply (WOS) - is a measurement for safety stock as it relates to your future

demand. WOS acts as a metric to value the life of inventory on hand in weeks. In other

words, how many weeks it will take for an item to sell out based on current on hand

inventory and future projected weekly sales.

Inventory Turnover - In accounting, the inventory turnover is a measure of the number

of times inventory is sold or used in a time such as a year. It is calculated to see if a

business has an excessive inventory in comparison to its sales level.

Capital Asset Utilization - Asset utilization is a measure of the actual use of an asset

divided by the number of assets available to use. For example, if a machine runs three

shifts, its theoretical available use is 24 hours.

Inventory Planning - is a process for deciding what retail products to stock and how

much to order. The practice involves demand forecasting and budgeting, in which

retailers’ factor in sales data and trends to determine the optimal inventory levels and

the right timing for sales, promotions, and markdowns.

ABC Classification/Prioritization - Everything that falls into the A class is important. B-

objects are less important, and C-objects are negligible (at first). ABC analysis is always

used when data needs to be classified and prioritized to identify the most important

objects. 

Age Reserve Planning - An inventory reserve is a contra asset account on a company's

balance sheet made in anticipation of inventory that will not be able to be sold.

Safety Stock Planning - is an extra quantity of a product which is stored in the

warehouse to prevent an out-of-stock situation. It serves as insurance against

fluctuations in demand.
 CHAPTER 2

Review of Related Literature

Related Literature 

The research and articles that are relevant to the objectives study are discussed in this

chapter. It includes a discussion of related ideas including information systems,

management information systems, and inventory systems that could aid researchers in

developing and analyzing their planned studies more thoroughly.

Local Literature

Ocampo’s Incorporated Inventory System 

According to (Ocampo), Information technology (IT) is concerned with improvements in

a variety of human and organizational problem-solving endeavors through the design,

development, and use of technologically based systems and processes that enhance

the efficiency and effectiveness of information in a variety of strategic, tactical, and

operational situations. Ideally, this is accomplished through critical attention to the

information needs of humans in problem-solving tasks and in the provision of

technological aids, including electronic communication and computer-based systems of

hardware and software and associated processes. IT complements and enhances

traditional engineering through emphasis on the information basis for engineering.

Professional activities in IT and in the acquisition of IT systems range from requirements

definition or specification to conceptual and functional design and development of

communication and computer-based systems for information support. They are

concerned with such topics as architectural definition and evaluation. These activities

include integration of new systems into functionally operational existing systems and

maintenance of the result as user needs change over time.  The researchers will study

the inventory system of OCAMPO’s Incorporated in the City of San Fernando, La Union.

The study will conduct an interview to identify problems of their system, analyze and

interpret to be able to address the problem. The proposed system should include the

following: Client or server selection process asks the user if the computer is a server or

a client. The selection prepares the system for the network connection; User registration

and validation process creates users for the system. The administrator has the control

on the users and assigns a role in the business; Log-in/log-out process separates the

roles of the administrators and its fellow users.

Reference: https://www.inettutor.com/source-code/inventory-management-system-

review-of-related-literature/

Exact Globe Inventory System  

According to (Exact Holding N.V.), Exact Globe Inventory System is an advanced

information system, and it is a fully integrated solution where orders, receipts and
deliveries are entered and available in real-time, presenting costs and quantities at the

time of inquiry. It saves time, eliminates confusion, and gives you the power to make

decisions based on up-to-the minute information. It has Full Serial and Batch control for

trace and recall purposes and it can make use of 30 user-defined fields at the item level

to further describe inventory related properties. A Strong ability to perform ABC analysis

for fast / slow moving inventory management. Manage inventory in multiple warehouses

for costs and quantities as well as planning and production data Associate approved

suppliers with inventory, along with different supplier price lists. View detail Bill of

Material information within the main item master Assign landed costs for inventory

purchases for extraneous costs such as demurrage. Advanced functions for bar coding

and track & trace.

Reference: https://www.inettutor.com/source-code/inventory-management-system-

review-of-related-literature/

RFID Inventory System

According to (Riordan Manufacturing), inventory System RFID-based Tracking, the

primary weak-link in the value chain of Riordan Manufacturing is the manufacturing

process of raw materials inventory tracking. This system continues through the chain of

manufacturing from the point the raw materials arrive until the final product has been

assembled and shipped. This method yields a system that is data redundant, prone to

human error on the data entry level, and presents an opportunity for the data to be
misinterpreted by the Inventory Clerk for the raw materials ordering. Additionally, few to

zero records are being produced that will enable analysis of inventory levels (Riordan

Manufacturing). The purpose of this project will be to improve the manufacturing

process by implementing a new computer-based resource tracking system that will

eliminate the need for the Inventory Clerk to re-produce the forms into the Inventory PC.

The new system will allow the Inventory PC to do the tracking of raw materials upon all

throughout the manufacturing process. Raw Materials can then be ordered based on

known inventory levels, historical data of typical customer orders, and a number of other

factors that will be immediately accessible through the new system. The new system will

immediately be able to identify lost inventory, managers can immediately track the

inventory down and be able to identify trends if materials are repeatedly lost at a certain

point in the manufacturing process.

Reference: https://www.inettutor.com/source-code/inventory-management-system-

review-of-related-literature/

Bell Electronics Inventory System  

According to (Bchaney), Bell Electronics Lab Corporation situated in Calamba, Laguna

is engaged in testing and assembly of optoelectronics and sensor devices. The

company is concentrating on its resources in program is towards the development of

other types of optoelectronic and sensors device packaging to support their customer

requirements. The PDA module is composed of bar code scanner to scan issued and
received items, and a Z8F6423 Zilog micro controller to sore the information. A Product

Inventory System (PIS) application program is also discussed to show how the PDA

module can be interfaced with the PIS. Test results presented in this paper will show

apparent improvement of company’s inventory system.  Inventory system is an effective

way for monitoring and tracking unconventional materials that are transferred in and out

of a company’s warehouse or establishment usually for accounting purposes. It is also

important for a company to monitor all the transactions and movement of goods to keep

an account of all their stocks. However, in some establishments, the inventory of

materials is done manually in such a way that an employee writes down the information

of unconventional materials every time it is transferred in and out of the room. The same

case applies in Bell Electronics Corporation; and as a result, the inventory system

becomes prone to human error and would be more time consuming which will be a loss

for the company. In Bell Electronics Corporation, there is a corresponding form for every

incoming or outgoing item (from the stock room). These forms serve as the basis of

comparison when inspecting; that is, the amount of item that goes in or out must tally

with those written in the forms. After-wards, all the transactions will then be encoded.

Reference: https://www.inettutor.com/source-code/inventory-management-system-

review-of-related-literature/ 

Sales and Inventory System

In accordance with the study of De Alday Espino Ragudo (2010), Computerized Sales

and Inventory system for Ramon Trading. The replacement of manual system with the

proposed system provided more efficient and accurate processing of the transaction.

The system is reliable, eliminates errors and inaccurate information, and provided

valuable reports with integrity.

In accordance with the study of Navarro (2012), Sales and Inventory System, computer

is general purpose device which can be programmed to carry out the finite set

arithmetic or local operation, the computer has a big role in our nation today because of

technology. Wherever you go, computer exists, especially in business it makes the

procedure easy and source by programming the manual system into a computerized

system. The role of technology in our life today has a significant impact.

Reference: https://itsourcecode.com/fyp/chapter-2-related-literature-sales-and-

inventory-system/

Foreign Literature

According to (Jenkins, 2020), an inventory management system is a piece of software

that supports business owners in more effective inventory management. Our essay by

Jenkins is important to this study since it primarily focuses on an inventory management

system and how it functions. Additionally, it emphasizes how an inventory management

system may benefit a firm, particularly one that is struggling with an inventory

management issue. Jenkins, A. (2020). How do you manage your inventory? Benefits,

Categories, and Methods.

Reference:

http://103.47.12.35/bitstream/handle/1/1650/1713203027_Raj_Kumar_FinalProjectRepo

rt%20-

%20Raj%20kumar%20pachouri.pdf?sequence=1&isAllowed=y

According to (Deutch, 2020), a point-of-sale system allows a firm or business to accept

payments from clients and process payments. The arrangement may sometimes seem

simple, but it can function in a variety of ways depending on whether the firm is selling

online, has a physical store, or both. A point-of-sale system refers to the payment

procedure in a business. The present point of sales systems is entirely computerized;

this is so that staff may view a client and their transactions at any time. The employee

will have access to a point-of-sale system and a computer that can access the internet.

The idea of Deutch's essay focuses on how the point-of-sale system functions makes it

relevant to our study. The article also discusses how the point-of-sale system may

assist the employee or even the business owner in keeping track of the consumer and

their transaction. 

Deutch, K. (2020). What Is POS (Point of Sales) Systems and How Do They Operate?

Reference: https://squareup.com/us/en/townsquare/what-pos-system
According to (Sorensen, 2018), a point-of-sale system is more than simply a single

piece of equipment or method; rather, it is a collection of several elements or items that

come together to efficiently handle customer-facing transactions and maximize sales-

related marketing activities. It will still differ depending on the technology used by the

staff, the payment alternatives that the company accepts, whether the company prints

paper receipts, and how they keep track of and arrange their sales. The fact that

Sorensen's work covers the fundamentals of the point-of-sale system makes it relevant

to our study. The article also mentions how the point-of-sale system's many

components must all operate together for the system to be completely functional.

Additionally, the records may be efficiently arranged with a point-of-sale system.

 Sorensen, E. (2018). The operation of a POS system the fundamentals are described.

Reference: https://www.mobiletransaction.org/how-pos-system-work/

According to (Digital Schools   of   Marketing, 2020), they   explained   that   the   term  

"sales   and   inventory   system “pertains to a development tool management solution

that is used to monitor sales transactions and also inventories   at   the   same   time.  

Distributors   and   e-commerce   resellers   alike   could   benefit   from   a

comprehensive system in which a complete transaction input records all the necessary

information about the client, the items purchased, the amount, and the date, while also

updating supply activity in real-time. Sales and inventory systems are increasing among

retail shops and online marketplaces as a means of assisting them in maintaining their

thumb on the pulse of their company activities. As a result of the high interest in this

specific software, it is predicted that the worldwide retail automated business will top

$275 billion (about R3.9 trillion) in revenue this year. The relevance of this article by the

Digital schools of marketing and to this research is that it analyzes how inventory

system works and how it helps the owner to have a successful business. It also includes

on how the system can input all necessary information in the business and look for it

anytime in a much faster way rather than looking for it for several minutes or even hours

when not using an inventory system.

What are a sales and inventory management system? (2020, January 20). Digital

School of Marketing.

According to (Digital Schools of Marketing, 2020), the phrase "sales and inventory

system" refers to a development tool management solution that is used to track both

sales transactions and inventories at the same time,  A thorough system that captures

every piece of information about the customer, the things purchased, the money paid,

and the date while simultaneously updating supply activities in real-time would be

beneficial to distributors and e-commerce retailers alike. Retail stores and online

marketplaces are increasingly implementing sales and inventory systems to help them

keep a finger on the pulse of their business operations. The global retail automated
business is expected to generate more than $275 billion (R3.9 trillion) in revenue this

year because of the high interest in this particular software. 

The relevance of this article by the Digital Schools of Marketing and to this research is

that it analyzes how the inventory system functions and how it aids the owner in having

a successful business. It also includes how the system can input all necessary

information in the business and log it.

What is a system for managing sales and inventory? (2020, January 20), digital

marketing school. 

Reference: https://digitalschoolofmarketing.co.za/blog/what-is-a-sales-and-inventory-

management-

system/

According to Anton Dolinsky (2010), In the early days of inventory keeping, merchants

recorded purchases or counted the number of units left at the end of the day to predict

future demands. In his essay on "Barcodes, sales, and inventory control." After the

Industrial Revolution, however, mass manufacturing and enhancing consumer

experiences at the point of sale became the fundamental objectives of business, making

it impossible to continue this approach. Early in the 1930s, the first modern check-out
system, which employed punch cards to connect with catalog items, was created by a

team from Harvard University. The introduction of inexpensive laser technology in the

1960s offered optimism for renewing the idea.

Synthesis

Several foreign and local Literatures existed in the context of The Development and

Evaluation of Bookstore Inventory Management Systems for Lyceum of Alabang Inc.

Related literature focuses on providing quality and effective Inventory System.

According to (Ocampo), Client or server selection process asks the user if the computer

is a server or a client. The selection prepares the system for the network connection;

User registration and validation process creates users for the system. The administrator

has the control on the users and assigns a role in the business; Log-in/log-out process
separates the roles of the administrators and its fellow users. This process mainly

concerned in which administrator has the power to manipulate the system, while users

only follow what administrator assigned them. In that way it will secure the Inventory

Management System to keep things and transaction organized. This system allows in

maintaining a smooth track of inventory and authorize managing inventory in real-time.

Therefore, the numbers of products and other information will be visible. It saves time,

eliminates confusion and gives you the power to make decisions based on up-to-the

minute information (Exact Holding N.V.). It is also important for a company to monitor all

the transactions and movement of goods to keep an account of all their stocks.

However, in some establishments, the inventory of materials is done manually in such a

way that an employee writes down the information of different materials every time it is

transferred in and out of the room, according to (Bchaney). To sum up monitoring

inventory system becomes prone to human error and would be more time consuming

which will be a loss for the company. 

According to (Jenkins, 2020), an inventory management system is a piece of software

that supports business owners in more effective inventory management. It emphasizes

how an inventory management system may benefit a firm, particularly one that is

struggling with an inventory management issue. According to (Deutch, 2020), a point-of-

sale system allows a firm or business to accept payments from clients and process

payments. The arrangement may sometimes seem simple, but it can function in a

variety of ways depending on whether the firm is selling online, has a physical store, or

both.  It will still differ depending on the technology used by the staff, the payment

alternatives that the company accepts, whether the company prints paper receipts, and

how they keep track of and arrange their sales (Sorensen, 2018). According to (Digital

Schools of Marketing, 2020), the phrase "sales and inventory system" refers to a

development tool management solution that is used to track both sales transactions and

inventories at the same time. It examines how the inventory system works and how it

helps the owner run a successful firm. It also describes how the system can input and

log all relevant information in the business. To summarize, good management helps

them avoid stockouts, manage multiple locations, and retain correct records. An

inventory solution simplifies these operations over doing them all manually.

Related Studies
Local Studies

Hussain (2018) the surrounding and including of our research project are focus on the

activities of a bookstore such as information on books and books sold to customers (p.

01) The database flexibility, convenient features, the maximum increase in customer

service, access to accurate information make this ideal for all sizes of bookstores. 

According to (Tariq Hussain Sheikh, 2018) Inventory management is a challenging

problem area in supply chain management. Companies need to have inventories in

warehouses to fulfill customer demand, meanwhile these inventories have holding

costs, and this is frozen fund that can be lost. Therefore, the task of inventory

management is to find the quantity of inventories that will fulfill the demand, avoiding

overstocks. This paper presents a case study for the steel manufacturing industry

(Small Scale Industry) on inventory management. The relationship between the

inventory management and company performance was determined based on inventory

days and return on asset (ROA) analysis. 

The research found that company X had a few inventory problems such as unorganized

inventory arrangement, large amount of inventory days / no cycle counting and no

accurate records balance due to unskilled workers. The study also proved that there

was a significant relationship between return on asset (ROA) and inventory days. This

paper also provides recommendation to the company and for further research.

Keywords --- ABC classification, demand forecasting methods, inventory management,

replenishment policies. 
The present study uses both primary and secondary data. Primary data is collected

from the steel industry (Small scale industry) units in the sample area through a

structured and unstructured questionnaire. In few cases to understand the depth of the

issue and the sensitivity of the variables in the study, the scholar personally met experts

in the industry having professional experience and had a personal interview using both

structured and unstructured interview schedule. This helps in understanding the issue at

broad prospective and to analyze the same in the research point of view. The

secondary data is collected from both print and electronic media. The print media

includes reports, magazines, journals, published research papers, thesis works,

unpublished industry reports, newspaper reports  and  the other text books.  The

electronic media sources include digital data bases, web portals, indexed journals in

direct access portals, industry association reports etc. 

The stock administration procedure is progressively helpful in deciding the perfect step

of stock and determining answers to the issue of good stock and lead time. Stock the

executives have gotten profoundly created to address the rising difficulties in most

Business elements and this is considering the way that inventory is a benefit of the

specific highlight. With the increasing weight and competition from worldwide powers on

the exchange, many nations have received the operation of Just-In-Time (JIT) inventory

frameworks. It speaks to a sizeable assumption and a potential source of waste that

should be thoroughly controlled. The amount to which inventory must flag that a request

must be put to renew a thing. Inventory Management System is programming, which is

useful for the organizations work tool shops, where storekeeper keeps the records of

offers and buy.

Facts and findings establish what the existing system does and what the 

problems are, and leads to a definition of a set of options from which users may choose 

their required system (Yeates and Wakefield, 2004). 

This section maps out unique perspective which relate to the project that will 

be developed. It focuses on the question of how the function of inventory management

system is important to every student, teachers, and employee in bookstore

management. Moreover, it describes any elements or methods 

which is useful to be used for the purpose of searching and gathering useful

information 

in developing this system.

References: https://inventorysystemsoftware.wordpress.com/2012/02/06/brief-history-

inventory-management/

Foreign Studies

According to Lockard (2012) inventory management was first invented by Adam when

he named all the animals, or by Noah when he counted the clean and dirty animals in

the ark. But for the sake of brevity, they jump to modern times.
Before the Industrial Revolution, merchants had to track all their goods daily. After that, I

had to order more products based on handwritten notes and intuition. This was an

incredibly inefficient and inaccurate way of doing business.

Merchants could not really account for stolen goods without regular, time-consuming

physical inventories. They also struggled to make sure they received the correct number

of products when an order came in, due to poor recordkeeping. But it was the best they

could do. 

According to Torrico (2021), effective inventory management impacts every aspect of a

company's operations. Inventory management in developing countries is a difficult

business process because companies do not use basic inventory management

concepts and techniques. In addition, developing countries are characterized by trade

imbalances with developed countries due to process inefficiencies, bureaucracy, and

communication problems. This leads to long lead times and uncertain delivery times. As

a result, firms try to overcome supply uncertainty by holding unnecessary amounts of

buffer stock.

They analyzed the inventory management system of an international lifestyle product

retailer in Bolivia and found that, as the literature predicted, the firm showed no use of

basic inventory control techniques. Particularly, it did not make data-driven decisions,

lacked an effective inventory management system, or knew which products had higher

consumer demand, and thus worked under a prominent level of supply uncertainty and
inventory management illiteracy. Therefore, to reduce supply uncertainty, we developed

a new inventory management system based on two strategies:

(a) strategies to reduce demand uncertainty; and (b) strategies to reduce process

uncertainty. Specifically, we implemented triple exponential smoothing for product

demand forecasting, ABC segmentation to identify the most important products in the

firm's portfolio, the news model to determine optimal inventory levels, powers-of-two

policies, to optimize reorder times, and Turnover Based Metrics to arrange in the

warehouse. Overall, they results suggest the significance of considering the country in

which any firm operates. It is therefore not surprising that firms in developing countries

have high buffer stocks and adopt reactive flexibility.

References: https://inventorysystemsoftware.wordpress.com/2012/02/06/brief-history-

inventory-management/

Synthesis

According to the U.S. Small Business Administration (2010), inventory refers to stocks

of anything necessary to do. The U.S. Small Business Administration describes what

constitutes successful inventory management balancing cost benefits of inventory,

including sustaining a wide collection without spreading the rapidly moving items too

thin, increasing inventory without sacrificing service, keeping stock low without

sacrificing performance, obtaining lower price by making purchases volume, Maintaining

an adequate inventory without an excess of obsolete items. From the work of Jonas
Claymore (2012), the cost-effective and highly innovative inventory management

system gives you instant access to stock levels, allows timely orders and zero waste of

time. Get real-time reports what the inventory system does is to allow you purchase

supplies based on the most current order data record.

This minimizes overstocking and at the same time, frees up resources for more urgent

Inventory System. The Inventory System gives you better control over your supply

chain, affording you the amenity of being capable to place orders online or via SMS.

and because the systems automatically produce inventory and sales reports, your

workers will have less paperwork to file and more time to focus on operations. For

superlative businesses with franchise activities, this user-friendly inventory management

system can be customized for any multi-site such as company, commissary, or

warehouse backend. This research is a way to be more organized and should be used

just like the technology that is being used today in today’s generation. It is about

creating a system that will make it easier to do what needs to be done for less hassle

and time management. It is better to use it and costs less; you only need to place one

order to find out how many stocks are present, when they were purchased, and of

course what was purchased. This is a good method to use, particularly for the Lyceum

of Alabang students.
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IN-TEXT CITATION

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homework (Snow, 1982).

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many students" (p.34).