CHAPTER 1 BACKGROUND OF THE STUDY AND ITS PROBLEM I.INTRODUCTION This chapter discloses the basis on how the researcher comes up with the project, This includes the conceptual framework, objectives, scope and limitations that set the boundaries of workbench, the significance of project in all possible aspects, and definition of terms as used in the context of this paper. II. BACKGROUND OF THE STUDY Inventory System is the process where by a business keeps track of the goods and material it has available. Sante Barley’s inventory system uses a record book where they process the records of every In and Out of goods in the factory or company. III. STATEMENT OF THE PROBLEM Sante Barley Corporation has a manual way of using checking their …show more content…
And to implement general and appropriate Inventory System. * The system will provide a Inventory system that able to record the products. * The system is able to check the schedules of In and Out of the products in the company. * The system is secured to unauthorized personnel. SPECIFIC * The system is user friendly. * The system is time-efficient. * The system can access by authorized personnel only. * The system should give an accurate records of data for Inventory. VII. SCOPE AND LIMITATION Scope: * The owner or administrator has the authority to create or terminate the account of the personnel. * The owner and the personnel can add, edit, and update the stocks that were used and remained. * The owner has the major authority in the system and the personnel have limited access in security settings. * The owner and the personnel can view the status of the remaining stocks as well as notifications to alert the user if the number of stocks is getting low. Limitations: * Losing of data when power interruption occurs while in the middle of encoding the data is not subject to retrieval unless it was saved. * The system can only be accessed in the computer where it is installed. * The significant values in the report can never be edited by the personnel once saved. Unless the administrator approved to correct the error that occurs. VII. DEFINITION OF TERMS The following terminologies were gathered for better and clearer
Typical outputs from the system would be a daily report that provides a checklist of the inventory held in each location. Another output from the system would to provide a trend for peak hours of operation to assess the need for allocating resources.
1) The company should install perpetual systems (on-line systems) so that the transactions such as stacked cartons list is updated immediately which can aid in transfer of control stock on real time basis. The advantage of on-line systems is that they are always up-to-date.
Based on the information provided in the above indicated inventory analysis the financial controller and all interested parties within management will be better able to become informed regarding all indicated irregularities, material misstatements or inventory shrinkage . Furthermore, this will assist the management team in understanding and more effectively managing
The inventory and production departments also have issues. Currently, inventory is done by the receiving area supervisor confirming the shipping documents against incoming orders by hand. This allows for human error and is not a quick or efficient way to do inventory. The same process is used when production takes items from inventory. The inventory system is only updated once daily when new raw materials arrive and then again once daily from production when the raw material is used. The lack of tracking and checking in a timely manner leaves the organization’s processes at a higher risk of failure. The inventory system does not currently communicate with the sales or with the Finance and Accounting applications. This may lead to a
After doing an evaluation on the inventory for Williams Oil Company, the auditor learned that the warehouse clerk is the person who is responsible for ordering parts and supply inventory for use in drilling, they also keep track of inventory that is received from the docks, record the receipts onto the inventory ledger and do an annual check on the inventory. There is no supervisor that reviews this clerks’ work.
Access Management helped eliminate the chance of risk of loss or harm to important informational assets. There were three different types of controls that were implemented by businesses or organizations. The most important types of controls related to access management was stated as the administrative controls. Physical and Logical controls were based on the implementation of administrative controls in an organization. This project focused mainly on the use of physical controls of Paxton Access Inc, which included door locks, keypads, and scanners.
Sophisticated system based on a relational database The accounts manager has showed a need for a database that captures information about the customer and contracts and automatically alerts when certain level of stock is a needed to reorder.
h. This system should be sharable among all four regions in a way that enables all employees to access and track any previous queries, issues, or problems raised by the
Section II offers information about market for registrant’s common equity and related stockholders matters, financial data, management analysis of financial condition and results of operations, quantity and quality disclosures regarding market risk, financial statements, and outcome of changes due to disagreements with accountants regarding accounting and financial disclosures and Hewlett-Packard’s control and procedures (Hewlett, 2007).
The lack of new curtains and air fresheners questions the efficiency of the inventory control. The organization must assign a person to check inventory on a regular basis to avoid any shortage.
SECURITYADMIN: Security chairmen. Can include and evacuate logins, include and uproot interfaced servers, change passwords.
Both the Microsoft advisory and security update stated the best practice would be that companies should only provide administrative access to people who have a need for it in doing their job.
Multiple Godown stock evolution: Tally helps to create multiple godowns as well as to create sub-godowns. Thus it is very helpful in factories, warehouses, godowns etc. evaluate stock in an organized manner and get summarized total for each level. Godowns can be separated by storing saleable and non-saleable goods separately and also can be valuated separately.