What is computerized inventory system?

Answer 1

Most likely a database. Something created with Microsoft Access. Inventory control system? Computerized inventory system? What is accountory n inventory? What the inventory system does? What is computerized inventory? Computerrized inventory system? What is an inventory system called? How do you set up an inventory system? Example of perpetual inventory system? Advantages of periodic inventory system? What is bad order in an inventory system? Need of computerized inventory accountoing? What benefits will you get having a inventory system? What is the Benefit of computerized inventory system? What are the theoretical framework of inventory system? Consider developing a system for inventory for super marketthat has anumber of branches all over city?

Answer 2

A computerized inventory system allows a business to keep track of inventory levels in real time throughout the day. Inventory management software allows businesses to keep track of inventory orders, counts, and sales. Thanks to computerized inventory, employees and customers may find out if an item is in stock in seconds. Shipment and receiving orders are also made easier and less error-prone with computerized inventory systems.

Answer 3

Answer: In today's tight economy, manufacturers and retailers (M & R) do not want to carry any more inventory than they have to, as excessive inventory increases a company's overhead expense. Over the past decade, M & Rs started to employ JIT (Just in time) inventory strategies that are based on a Min/Max equation. Simply put, M & Rs want to ensure that they have at least the minimum quantity of a given item in stock based on analysis of trended sales of that given item. The maximum quantity for that item represents a realistic buffer inventory should the item experience spikes in sales demand. Having a computerized Inventory system provides "real time" assessment of inventory levels. As an given item is sold, the inventory level for that item is automatically adjusted and when that item's inventory level reaches the Minimum level, the system automatically generates a purchase order that can be electronically transmitted to the supplier. This is a very basic example. What happens in reality is that the system keeps track of every item that is close to reaching its minimum inventory level and at the end of the day, compiles a list of all items that require replenishing sorted by supplier. Then multiple purchase orders (as many as there are suppliers) are generated and transmitted to the suppliers with a copy of each P.O. also transmitted to Accounting. When the goods arrive from each supplier, the inventory levels are adjusted accordingly and the system will also issue a notification to the Accounting department that will be used against the supplier's invoice and P.O. copy. In some inventory systems, provision is made to house multiple suppliers for given item with real time updates with respect to a given item's cost from each supplier. This allows the system to issue purchase orders to those suppliers with lower price points. There is definitely much more detail involved; however, it is plain to see that a smart inventory system provides the following advantages. Keeps just enough inventory in stock. Monitors inventory levels and automatically issues P.O,s when required. Computerized transmission of P.O.s to the suppliers offering the best price. Notifies the Accounting department of what was ordered versus what was received. Does all of the above more efficiently and expeditiously than could humans. .