Vending Machine Inventory Control System Proposal

IT is centrally-managed for each of CTC’s specific divisions. Retail stores use software to keep track of inventory and prices regarding items in stores. The stores then transmit this information to make purchases from CTC. It is an integral part of their supply chain and retail operations. They are continuing to upgrade these internally developed systems, which could pose a risk for exceptions. These systems will require increased test of controls

Kudler Fine Foods should upgrade to a system that has bar-coding and is linked to inventory. This system would be beneficial for any business in stocking food, clothes or any other inventory item. The barcodes on each item will keep your inventory records, starting from the point they are received into inventory and the moment they are purchased. With the bar-coding there is a set price for each item and will be automatically linked to the software used by Finance and Accounting. This system could get rid of the excel sheet tracker for inventory and can get rid of any potential transpost errors made by manually entering inventory. Major grocery stores are equipped with systems such as bar-coding and inventory control.

Discussion: The system’s administrative infrastructure shall be installed and tested before the software is connected to any POS stations. Training for administrative personnel will be conducted in three separate sessions at each Kudler location, in order to ensure that all backroom employees are not away from their duties at the same time. (Alternatively, training can be conducted after regular business hours, if Kudler Fine Foods would prefer this method.) Once the infrastructure is firmly in place, POS stations will be connected to the system and tested one at a time. This should require no additional training for the cashiers – the duty manager will be responsible for informing them about the new functionality of the card readers as they report for work.

The company can implement a wireless barcode input as well, which will help them achieve 99% inventory accuracy. Also the advantage realized in this system will allow CanGo to streamline their employees, paperwork, supplies, shipments and increase manageability of their reports.

One of the biggest improvements to be made that would assist the manufacturing, delivery and shipping systems are changes to the inventory management system. The inventory management system needs to be upgraded to a less manual, more automated system utilizing barcode technology. Barcodes would be placed on every product built and/or raw materials received by Riordan. Inventory would be scanned when picked from the shelves, would be scanned when placed on transit, and would be scanned upon arrival and departure at any Riordan facility. This would be put into place for both raw materials arriving as well as products that are post-production and ready for distribution. With accurate inventory counts, the company could better forecast low inventory levels and drive manufacturing based on the available inventory and projected orders from our customers. The system will have reorder quantities established and will auto-reorder when inventory levels get

The purpose of this course project is to address the ongoing issues surrounding my companies, REI (Recreation Equipment Inc.,) inventory management issue and to see if we can find a software program better suited to the companies needs. The goal is to find products quickly and efficiently. Customer satisfaction is key to driving sales and profit in any company. As a result a software upgrade is certainly needed in order to compete with other companies in the same industry.

The Walmart is able to keep track of its inventory with the help of a little gadget called, Telson. It scans the bar code which is not just a simple thing but it is almost like an encyclopedia as it tells all the information. The power of information is hidden in a bar code. It is very important as it keeps track of all the sales for example what is being sold, when is it being sold, history, sale prices and trend prices.

The Home Depot Rapid Deployment Center’s inventory tracking system is based on a star network configuration. Each employee uses a Radio Frequency (RF) scanning gun to create labels placed on all inventory as it is received into inventory. Then, the labels on the inventory are scanned and located to predetermined locations in the building, tracking the inventory’s movement through the building. This tracking ensures that no inventory is lost while transitioning from receiving until it is placed on the correct trailer for shipment to our stores. Another function of the RF guns are to track the work being performed by the employees to compare against a predetermined set of standards. This data tells a story of how effectively each person is completing

point of sale system. The POS system is a perpetual inventory counting method that electronically records items immediately upon their point of sale (Stevenson, 2015, pg. 552). In other words, as a cashier scans a customer 's groceries, each scanned item is automatically recorded in the system and deducted from the store’s inventory. Implementing a point of sale would benefit a business’s inventory management function in several ways. First, the POS system will provide managers with a continuous flow of updated information (Stevenson, 2015, pg. 552). As a result, the information will provide more accuracy when used for sales forecasts and analysis, which substantially affect inventory decisions. Continuously, this inventory system would also allow greater flexibility in the sense that it can be wirelessly linked to the main company’s inventory system, creating a network of the company’s inventory systems. The POS system is capable of tracking many operations at once and can be modified according to management’s needs (MacCarthy, n.d.). This flexibility would undoubtedly benefit a large company like Wegman’s with many store locations. Lastly, the system is able to help businesses maintain a high level of customer service. Because the system gives customers a receipt with the price and quantity of each item purchased, the customer is able to see exactly what he or she purchased. This practice

Computers can also track the actual inventory levels with the use of barcode scanners. Scanning entering and exiting inventory can current levels and avoids mistakes that can happen by using the card system.

The adoption of Electronic Point of Sale (EPoS), Electronic Funds Transfer Systems (EFTPoS) and electronic scanners have greatly improved the efficiency of distribution and stocking activities, with needs being communicated almost in real time to the supplier (Finch, 2004).

In the retail market, data record inaccuracies forms one of the most important causes of out-of stock situation. This leads to decrease in revenue for the retailers. Again, the organizations have to bear significant labor costs due to the manual system of data transfer regarding product information. This leads to indirect effects on poor data quality on the supply and demand chain (Legner & Schemm 2008, p.21). Coles Supermarkets have been using barcoding since early nineties. One of the challenges they have been facing was with the manual entries and increased labor costs if a barcode fails to scan. Secondly, barcodes lacked real-time product tracking and this is extremely important for them, as the supply chain is vast in terms of the intermediaries and the locations from which the goods are supplied and delivered. Coles have suppliers within Australia as well as from countries like India, China and Bangladesh. Due to this, they were lacking best practice opportunities of factory gate pricing and reverse logistics (Coles Centenary 2015)

The company problem is they using chaos system and it is difficult for the admin to estimate their profit. With the new system developed, the company can manage their inventory data easily, quickly and more secured.

A common way of decreasing the amount of inventory a business holds on a daily basis is implementing a just-in-time inventory process. A Just-In-Time inventory system means that the business gets the materials for a product, as they are demanded. “The electronic data

Consumers have many choices when deciding where to purchase their goods. While retailer managers are deciding how to win the consumer’s business and increase revenue, they are also constantly trying to figure out ways to reduce costs. Technology helps retail managers improve areas of inventory and supply chain management as well as customer satisfaction and loss prevention (Green, 2002). This paper explains how technology