IICT Supplies Inventory System Essay Sample

IICT Supplies Inventory System Pages
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The arising era of technology nowadays has been recorded in the history as the fastest among all. Scientists and inventors were continuously seeking for its improvement and development to be able to observe its maximum potentials. In other countries, technology has become the most important method in business industries and became the most common solution in making data processing and store management easier. Technically, inventory is the center heart of business reports.

Since technology became a part of business industries, even institutions adopted technology in educating students. It is also used in some offices of government agencies such as Land Transportation Office, National Bureau of Investigation, PhilHealth and others. The Isabela State University – Roxas Campus is also using technology in various matters but, due to lack of resources not all offices were equipped with systems for data processing especially in generating inventory reports of laboratory supplies and equipments records. Inventory of supplies and equipments purchased is one of the most important reports that an agency has to provide. It is used as the basis in purchasing additional materials that could be use in a certain period of time. In the case of manual inventory in the laboratory of IICT Department, it is time consuming and very much tedious. Data were not accurate for it is not computer generated. Printed reports were not automatically printed continuously. Records are not secured. Records do not automatically appear in just one click which results to the delay of reports.

Businesses started using inventory system since the birth of technology. Now that it is also applicable to institutions, it is highly recommended to use it in managing supplies and equipments purchased in the most favorable time. Thus, the proponents ought to propose the Inventory of Laboratory Supplies and Equipments System. The automation is an answer to the manually operated inventory system of the past since the manual process takes a lot of time in recording the transactions. This technologically aided process allows efficiency in data management. It paves the way for the removal of inconsistent data and costly charges for massive spreadsheet purchases. Moreover, this is a practical system because it allows the users to easily track down the purchases and records for all inventories. It also provides informations about each item depending on the query. Data security is also considered.

Through the years, automated inventory system has become main stream in some government agencies because like in business, time means profit. Thus, implementing the automated Inventory of Laboratory Supplies and Equipments System in IICT department is a big help because it lessen the work load of the employees and minimize the factor of human error. As a result, employees become more efficient and productive.

PURPOSE AND DESCRIPTION OF THE PROJECT

The purpose of the project proposed was to eliminate the manual system used in the inventory of laboratory supplies and equipments of the IICT Department. It is remarkably in need for improvement to create a new character for the department. The system is unusual because it is designed respectively for the IICT laboratories only. Its features were based on the categories provided by the IICT faculty. The main function of the system is to accept data, records data inputted, store data and print reports. The system concentrates in providing records of transactions made, accurate and reliable reports of laboratory supplies and equipments inventory. It is simple, secured and reliable. Effective in terms of time saving and its efficiency is undeniable.

OBJECTIVE OF THE PROJECT

Primary Objective
The overall objective of the project is to alter and totally eliminate the manual system used by the agency in the inventory of supplies and equipments of IICT laboratories to become more productive and progressive. The project aims to improve the efficiency, accuracy and reliability of data reporting.

Project Objectives and Targets
The specific objectives include:
1. To record each transaction made for each day.
2. To create and provide an organized and systematized reports.
3. To improve data security.
4. To develop the skills of employees in using computer-based systems.

Expected Impact
Strategic impacts of the project include:
1. Development of the inventory system for easier and faster transactions. 2. Integration of the system with other computer-based programs of other offices and departments for improvement. 3. Improvement of data security and skills in manipulating automated inventory system.

SCOPE AND LIMITATIONS OF THE PROJECT

The proposed project was designed and developed for the laboratories of IICT Department only. It is a stand-alone or window-based system for use by the system administrator. It allows the user to input data, record it, store and print the reports. It provides informations regarding a certain item, presents a couple of buttons to choose the action to be done such as to Add, Edit or Delete an item. The system is equipped with search engines to easily find a certain record. The project limits its ability to create a record of employees using the system. It does not generate any receipt of purchase it only track down the transactions with a given date, time, number of items and the name of the requisitioner/faculty. It does not have the ability to calculate the total expenses of the laboratories.

IMPORTANCE OF THE PROJECT

The study was conducted to integrate the technology in supplies and equipments management of the laboratories of IICT department. In this regards, the study hopes to become useful and beneficial to the following:

The Department. It would be easier to keep track a record especially in the purchase and distribution of supplies and equipments to the IICT faculty. Laboratories would have a systematized and organized record of supplies and equipments inventory accordingly.

The School. It would lessen the cost of resources being used in the preparation of inventory reports.

The Employees. It would lessen the time and effort of employees in generating reports using the manual system. It would be easier to find the acknowledgment receipt of property for the concerned faculty.

The Researchers. The study could give the researchers the ability to create another system related to the proposed system. They could develop or improve the existing system, with that, their understanding regarding the inventory system would be increasingly.

REVIEW OF RELATED LITERATURE

RELATED LITERATURE/ THEORETICAL BACKGROUND

Kakeeto (2003) [6] stated the problems that exist with manual inventory record system as being inconsistencies incurred when entering products onto stock cards, increasing volumes of stationery used, making it hard for the workers to identify the stock cards in time. Inventory management is one aspect of business computing that enhances a company is business performances so as to reap big from the business venture being undertaken. Maintaining too high e level of stock items with a limited shelf life can only result in wastage and unsold stock.

According to Kibera (1996) [8], Inventory in most organizations is the largest single investment .Its therefore sensible that the management understands what it is and also effectively controls it. And due to this new era of system automation there is need to computerize every system in the organization to reduce on the problems associated with manual systems. Effective inventory management is, therefore about implementing strategies to meet or exceed customer related to a product availability by maintaining a sufficient stock of each of stock item, which will also maximize the convenience organizations profits. How can one maintain this aspect or come up with it? Automation of inventory will effectively maintain a sufficient buffer stock for the smooth running of the organization.

AcaDemon (2005) [1], Inventory control in the store business is important because these businesses depend on the rapid turnover of inventory items with a limited shelf life at relatively small margins. The store must be able to satisfy the customers by being able to supply the desired commodities when required. The stores shouldn’t have a large amount of capital tied up in the inventory items lying in the store. Inventory is the value of a firm’s current assets that are shown on the balance sheet, generally at cost. Periodic Inventory System is a physically count inventory, usually made at the end of the accounting period, which does not maintain a detailed record of the actual inventory kept during the accounting period. Persons in charge of managing the inventories in a business must follow certain steps and perform an accurate inventory control system in order to avoid highly costs due to over stocking matters. Such is how important is inventory is to an organization that it must be really taken seriously.

Kanyanyuz (2005) [7], in her project Fixed Asset Inventory System, the main objective of the project was to design and develop a database that will maintain the asset register. She developed a Web based database system to register and assist in tracking the assets. The project emphasis was mainly put on tracking the assets of the organization hence development of a register that will be used by the auditors who come to audit the organization. The main the objective was tracking assets of the organization whereas this project is looking at the managing of stocks meant to be sold.

A similar project was done on Stores Management Information System by Bwire (2004) [3].The project is main objective was to determine the stock levels by computing the received and distributed commodities and also to account for the stores rental goods by calculating the rented date and date of return. The aim of the study was to provide an Automated Computerized System for securing, quick evaluation and manipulation of records of goods received and distributed at the store. He also looked at the system to be able to collect, store, retrieve, communicate and use data for the purpose of efficient and effective management. The project mainly deals with stores looking at the aspect of goods whereby the control of services is not tackled. Since Victoria Insglass Ltd deals in some form of different inventory (offering of service by selling licenses) and it’s bought from only one organization i.e. KCC.

Amoro (2004) [2]in his project Automation of Business Transaction, whereby he focused on the system to be able to track the records of customers, orders and drugs as well as providing the reports on business transaction. His system further focused calculating the discount on large purchases of drugs and also able to carry out registration of drugs and customers particulars. The project was mainly to deal with production and sale of drugs in the organization putting emphasis on production organizations. Data and system have no meaning till put into context of what business or organization does.

This mainly tackled issues concerning organizations dealing in production and able to offer discounts unlike Victoria Insglass Ltd that cannot offer discounts and does not deal in production but it offers services by selling licenses .Inventory control in the convenience store business is important because these businesses depend on the rapid turnover of inventory items with a limited shelf life at relatively small margins. This particular inventory information is what manager’s base on to make vital decisions of an organization. The automation of the inventory system will hence help managers make the right decisions because information will be rightly available and in a correct format. Computerizing your inventory system brings you the potential for improving sales and profits through better analysis of inventory trends, including patterns of delivery and demand. It will almost certainly pay a significant return on your investment hence the significance of Victoria Insglass Limited automating its inventory management system.

RELATED STUDIES

According to Moskowitz(19950 [11], Inventory control – in whatever sense it applies to your business – can be done manually, of course but you can almost certainly do it faster, cheaper, and better by automating some or all of the inventory control process. Moskowitz(19950 [11], found that the four aspects of inventory control: counting and monitoring the items actually in inventory; recording and retrieving the precise locations of items in inventory; recording changes to inventory frequently and precisely enough so you make possible accurate inventory control; and anticipating inventory needs well enough to re-order just in time and to plan for inventory handling requirements. Computerizing your inventory system brings you the potential for improving sales and profits through better analysis of inventory trends, including patterns of delivery and demand. It will almost certainly pay a significant return on your investment (4). This really spells why the automation of inventory is apparently very much needed and not only computerization but also with the appropriate software.

Cameron Balloons Virtual Factory (2005) [4] came up with the following manual inventory systems:

* Fixed re-order stock level The fixed re-order stock level is whereby the business decides the minimum level of stocks it can tolerate and then re-orders before the stocks reach this level. The exact timing will depend how long the stocks take to arrive. This minimum level is set so as to be able to give time to the suppliers.

* Fixed time re-ordering Fixed time re-ordering, the firm re-orders stocks at a fixed time each month or week. Organisations set up different times depending on their convenience to re-order stocks.

* Economic order quantity Economic order quantity, firms usually estimates what is needed and order at once. This method is used at the beginning of each yearly quarter.

* Just-in-time production This method involves keeping stocks to an absolute minimum and the raw materials are ordered only when they are needed. It was developed in Japan. It deals in the production of goods. This can be wonderful for helping to reduce the need for working capital, but requires a very high level of organizational skill and a very close relationship with suppliers. These fours methods would suite the company that employs them but still, the manual work is too much plus the related problems that come with it. Combining the four methods and automating the whole inventory control process will give that particular organization a very big boast in managing its inventory.

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