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Point of Sales and Inventory Essay Sample

Point of Sales and Inventory Pages
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Sophie Martins which is located at #202 Sophie Office Pantalan Street Caniogan Morong Rizal. Sophie Paris’ journey to success is fuelled by hard work, exceptional skills, supreme talent, strong motivation and pure guts. Encouraged by the strong acceptance in the Indonesian market and nearly saturating the population with the Sophie fever, there was no other way to go but to expand internationally.

So in 2002, Sophie Paris invaded the Philippine market as it opened its first affiliate in the country. Putting up its first Manila Head Office in Shaw Boulevard, Mandaluyong City, Sophie Martin Philippines, Inc. (SMPI) instantly established itself as a significant player in the country’s Direct Selling and Multi Level Marketing Industry as being the company of choice for high quality yet reasonably priced fashion products.

With a wide array of French-designed bags, watches, garments, shoes, and other fashion products to choose from and offering additional 80 fresh new styles every 6 weeks, members and clients alike always find something to fall for in every catalogue. Backed by highly competitive products, a lucrative marketing plan, and efficient sales and marketing tools, SMPI’s member base continues to grow counting up to more than 260,000 members and over 100 Business Centers nationwide.

Driven by the unrelenting support and passion of Sophie’s loyal members, SMPI’s dynamic team of 65 employees are committed to serve Sophie members nationwide to help them grow their Sophie business. As one Sophie family, we will be with you every step of the way as you achieve your dreams.

In today’s generation, we are engaged in highly computerized technology aiming to enhance individual lifestyle and most especially in the world of business. The manual system is now considered obsolete after the birth of the computerized system. On-line transaction is now very common to widen the target market of the companies. It becomes more attractive to the clients considering it can save time and considered hassle-free. The most commonly used system by several companies is the sales system and inventory system creating a web-based system. Advanced system on sales provide more reliable recording of sales of the company with comparison to its actual cost. In addition, the data needed by the company to decide matters in relation to inventory can be easily generated. Moreover, the inventory system promotes effective inventory control which ensures stocking the in demand and correct items in the correct quantities.

This system can help the company to avoid overstocking. When an organization overstocks, money is wasted since procuring, storing, and accounting for unneeded items require time, space, and money which could have been used on more critical assets. Likewise, when under stocking occurs the organization will more likely to only partly meet their mission or possibly not meet the mission at all. Also, a weak inventory control system is more prone to errors and fraud. Having advanced systems on sales and inventories makes the company more productive, efficient and convenient both to the company and its client. The system is meant to help people show to customers more relevant items, hoping to expedite and increase the sales and most importantly to increase the profit of the company. With the aid of sales and inventory systems, management can easily make consistent, reliable, and timely decisions.

Background:

Point of Sale (POS) and Inventory management is vitally important for any business that sells a physical product. An inventory system must balance having enough inventories on hand to meet the demand of customers while investing as little money as possible in inventory. An inventory system is basically a process whereby a business keeps track of the goods and material it has available. In its simplest sense it can be done manually by a count at the end of each day. In this way it is possible to keep a record of the goods coming in to the business and goods being sold. However this is only really appropriate for small businesses that do not have a lot of stock. For larger business it is more likely that a computerized system will be required. These days a computerized Point of Sale and inventory system is the most likely to be used by medium and large businesses although some small businesses may also use this. These typically use barcodes or radio frequency identification tags to keep a record of inventory objects.

This can be used to keep a track of customer orders, monitor the stock a business has available for fulfilling orders and also provide details of when inventory needs to be restocked. Using computerized Point of Sale with Inventory will give benefits to the business owners, employees and to the customers. Computers and bar codes allow for a more efficient management of inventory levels and provide a clearer view of inventory movement. More businesses are using transactional review systems because computerized systems can link to the point of sale with automatic debiting of inventory occurring in real time when the sale occurs. Is a multilevel marketing company that was established by a French husband-and-wife team; Bruno Hasson and SOPHIE MARTIN – who came to Indonesia in 1995.

Sophie Martin’s talent in designing fashion products, particularly bags, coupled with Bruno Hasson’s management skills, have resulted in Sophie Martin growing rapidly over the last twelve years. Thanks to the extraordinary business acumen of Bruno Hasson, Sophie Martin has been able to weather the storms that buffeted the Indonesian economy during the dark days of the crisis. Not only has the company weathered the storms, however, it has also grown to be Indonesia’s No. 1 Multilevel Marketing Company in the fashion field, with over a million members and more than 350 business centers spread throughout Indonesia.

Sophie Martin is a direct selling company newly introduced in BRUNEI. Their line of products range from stylish and classy bags, wallets, accessories, cosmetics, and skin care. Sophie Martin used to design bags for Christian Dior but has since established a new line of product for herself. Women who have seen their catalog simply fall in love with their array of bags and wallets. Be part of the multitude of women using and enjoying Sophie Martin products in the market today! If you want to be chic and classy, then Sophie Martin is the right product for you as they offer trendy and affordable items.

Theoretical Framework:

INPUTPROCESSOUTPUT

Statement of the Problem:

This study attempted to identify the problem of the manual inventory system. Sometimes they forget to list down some transaction thereafter more allotted time consumed when doing monthly sales and inventory. Based on the observations that the team conducted during the interview, we found out that due to manual recording of their sales are not tally based on their tally sheet.

Hypothesis:

The proposed action of our group is to create an Point of Sales and Inventory System. A new system will be introduces hence, computing of the sales and inventory of the products are accurate and fast. It’s significance is to minimize the work of manual inventory transaction so that work is/are done in efficient and effective manner.

Significance of the Study:

This study will help Sophie Martin Paris to modernize their sales and inventory record from manual recording to computerized recording; and for the proponent side this study will help our and ability to produce friendly user system.

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