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Generic Pharmacy Inventory and Point of Sale System Essay Sample

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Generic Pharmacy Inventory and Point of Sale System Essay Sample

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. For such businesses, it is more likely that a computerized system will be required. This can be used to monitor the stock a business has available and also provides details of when inventory needs to be restocked. One of the focal points of any retail or hospitality business is the cash register. The ability to process transactions and tender cash are essential to the efficient operation of the enterprise. If you have a lot of cash transactions, replacing the cash registers with a Point-Of-Sale (POS) system saves business owner money. A POS system is computer software and hardware networked together to track sales and inventory as they occur. POS systems will solve a multitude of problems in a business.

STATEMENT OF THE PROBLEM

1. Employee errors can cause inaccuracies in the inventory records, which can cause purchasing to fail to purchase materials or to acquire an excessive amount of inventory. 2. Business owners using manual inventory management can’t identify missing inventory and untrustworthy employees who may be stealing from the inventory.

3. Tallying can give an inaccurate result, products that have been sold within the day could not be matched with the total sales at the end of the day.

OBJECTIVES OF THE STUDY A. General Objective The main objective of this study is to develop and enhance the transaction and inventory process that will ensure every transaction are accurate and stocks are always monitored. B. Specific Objective The implementation of generic pharmacy inventory and POS system has the following benefits: 1. It can provide a fast-automatic calculation of every transaction. 2. It can produce a clear and reliable transaction and inventory reports generation. 3. The system will provide clear, reliable and accurate data and information in every

summary of the transaction reports. This ensures all the information written in the summary reports are reliable and realistic. 4. It can provide an accurate stocks monitoring system. 5. It can help the business in terms of tallying stocks to their inventory. 6. Data can be easily be backed up and retrieve. 7. Data will be secured. 8. Save more time. 9. Reduce errors on sales.

Scope and Limitations The system is planned only as the generic pharmacy inventory and POS system. The system will be limited to store, monitor the stocks, and total sales.

Definition of terms Inventory- Inventory is the total amount of goods and/or materials contained in a store at any given time. Store owners need to know the precise number of items on their shelves and storage areas in order to place orders or control losses. Point-of-sale – The physical location at which goods are sold to customers. Transaction – An agreement between a buyer and a seller to exchange an asset for payment. Computerized system – To enter, process, or store (information) in a computer or system of computers. Inventory System-the software used to plan and track inventory stocks. Stocks -is an economic magnitude that describes a quantity that exists at a point in time. Sales- Total dollar amount collected for goods and services provided Cash register – A business machine for regulating money transaction with costumers.

User Stories User/s Owner Goal/s 2.0 I want to manage user accounts wherein: 2.1 I can add a new entry of user’s account. 2.2 I can update user’s account if needed. 2.3 I can search user’s account. Reason/s So that I can monitor the user accounts of every employee/ user.

So that I have a printed report for future reference.

5.0 I want to print a report on the system regarding the medicines that are in stock and payments in a particular day. So that I can monitor the medicines (on stock / out of 3.0 I want to manage stock). medicines in stock in the So that I can accurately store system wherein: a new medicines. 3.1 I want to add new item of medicines. 3.2 I want to update the price and stocks of medicines. 3.3 I can conduct a search/view for different vaccines and medicines that are available in stock.

Cashier / Pharmacist

4.0 I want to manage payment wherein: 4.1 I want to add payment to the system whenever they pay. 4.2 I want to view the payment and have access to the system which will consist of all payments that had been stored.

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