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Review of related literature of pharmacy sales and inventory system

S Small Business Administration publication describes what constitutes successful inventory management balancing cost versus benefits of inventory, including: Maintaining a wide assortment without sacrificing service; Keeping stock low without sacrificing performance; Obtaining lower prices by making volume purchases; and Maintaining an adequate inventory without an excess of obsolute items.

Based on Brigman 2007Fundamentals of Financial Management, 5 th ed. A computer start with an inventory counts in memory. Withdrawals are recorded by the computer as they are made, and the inventory balance is the constantly revised.

When the recorded point is reached, the computer automatically places an order, when this new order is received, the recorded balance is increased.

Retail stores have carried this system quite far, each item has a magnetic codes, and as on item is checked out, it passes over an electronic reader, which then adjusts the computers inventory balance, at the same time the price is fed to cash register tape.

  1. Outside factors like a power failure or the loss of Internet or network connectivity can render the system temporarily useless.
  2. One of the main benefits of automated and efficient inventory replenishment systems is that you can quickly respond to reduced inventory levels.
  3. Some use it for transactions, some use it for educational purposes and others use it for data storage.

When the balance drops to the recorder point, an order is place. The proponent aim to develop an automated inventory system which is technically, operationally, and economically. The method used by the proponent to develop an automated inventory system is Descriptive Method. The proponent conduct several interviews in order to gather information about the present existing conditions of the inventory systems, knowing its problems and enhancing it by developing an automated inventory system.

Questionnaires were also distributed to all interviewees for additional information.

Chapter 2 - Sales Monitoring System

On an article written by White 2003merchandising means selling of products to retail customers. Merchandisers, also called retailers, buy products from wholesalers and manufacturers, add a mark-up or gross profit amount, and sell the products to consumers at a higher price than what they paid.

When you go to the mall, all the stores there are retailers, and you are a retail customer. Retailers deal with an inventory, all the goods products they have for sale. They account for inventory purchases and sales in one of two ways: As the names suggest these methods refer to how often the inventory account balances are updated. Based on Henderson 2008Inventory System Consist: An inventory control system is used in many warehouse to track the location, quantity and status of goods that are to be sold.

  • This increase in usage of computer proves that computers have affected every aspect of our lives and have become one of the necessities;
  • Visual Basic support many useful tools that will help the user more productivity.

Shipping and receiving of products is scheduled by and inventory control system. Inventory control uses barcodes and RFID tags to track specific items. An audit, or a physical count of inventory, is used to find out how many items are in an inventory. Inventory taking is often required in order to get an accurate count for accounting valuation purposes. Some inventory items have barcodes attached to them or imprinted on them. These barcodes can be read during an audit by barcode reading devices.

Featuring extensive content management tools, the E-Catalogue software may be administered and maintained without programming skills, freeing up your IT team. According to Oludare O. It stands for Short Messaging Service which is a protocol used in communications that gives way to the exchange of short text messages from one mobile telephone device to another. The technology behind SMS has paved the way for the rapid growth of improvement of text messaging that has now allowed users to broadcast SMS text messages not just from mobile phones but also from computers with the use of SMS software and through public SMS gateways.

Based on our earlier research and a diary study of payments with an online payment system and with online banking systems of a reputable bank, we proposed a set of 12 interaction design guidelines. The guidelines have been applied during the implementation and redesign of a new payment system. A computer scientist with interests in human-computer interaction, user experience, interaction design, and project management; he is a project manager and co-founder of Mobilnova.

  • It gives realistic ideas, guides and an alysis to be able to come up with the proposed study;
  • According to Balbiran, Geronimo, Porters, and Ruiz 2001 who develop an automated sales and inventory system for San Miguel Corporation Tubigon office that designing a system for involve careful planning and the system analyst must consider some factors in order to have an application program that is compact, efficient and could handle day-to-day transaction;
  • On an article written by White 2003 , merchandising means selling of products to retail customers;
  • Cost of customer to company 9;
  • Promptness in submitting reports and sales orders and accuracy of reports 5;
  • Reports are more timely and accurate.

Panos Markopoulos is a computer scientist doing research in intra-family communication, ambient intelligence, and interaction design for children; he is an Associate Professor in the Department of Industrial Design of the Eindhoven University of technology.

According to Henderson 2004they have three major advantages by using inventory system, there are: Time savings, Accuracy, and Consistency which helps a lot for a businessman to increase the sales of their business. The amount of time that can be saved by a business is, perhaps, the biggest benefit of using a computerized inventory system. A great example of this benefit is the retail industry.

In cases where a shop maintains all data manually, its manager must reconcile each sales receipt with every piece of physical inventory. Depending on the size of the establishments and how many different products are sold, this can be a daunting and time consuming task.

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If that same store, however, used a computerized point of sale POS system, the master inventory list would be updated electronically each time a sale is made. The only thing a manager would have to do each day is print out the report highlighting the inventory to be restocked. Accuracy, an additional benefit of using a computerized inventory system is the accuracy it ensures.

When an inventory list is maintained by hand, the margin of error widens with each update. If one mathematical calculation is wrong or one type is made, disaster may occur. For instance, if a clerk accidentally adds a zero to the end of a purchase order, a business could potentially end up paying for 10,000 units of merchandise as opposed to the 1,000 that is actually needed.

Consistency, a small business operates most efficiently when its processes are executed in a consistent manner. By using a computerized inventory system, a business owner can ensures that all orders, reports and other documents relating to inventory are uniform in their presentation, regardless of who has created them.

This will allow ease of reading. In addition, uniformity creates a professional appearance, which can go a long way to impress associates, such as potential investors. On an article written by Sanders 2010Computer-based system is a complex system wherein information technology plays a major role. It makes the work easier, faster and more accurate. Due to that fact, the automated scheme has become essential to small and big companies for they are expected to give the best services possible.

Nevertheless, some businesses still prefer sticking with the system that is not integrated with technology. Profitable causes are computer illiterate staff and lack of funds. One of the most sought after automated systems of different companies is a purchasing and inventory system which comes hand in hands. A purchasing and inventory system is very important in every organization because a good and inventory management can create an excellent productivity.

Primarily, inventory review of related literature of pharmacy sales and inventory system consists of input, output and restock. Input is a process of buying new products into the inventory and replacing the old products with the new ones. Meanwhile output is a procedure of taking out the products for the inventory for sales or usage and refill the insufficient products or escalating demands. Most of the retailing market is using traditional way in the inventory management system where a person is assigned to check and record the stock by hand using pen and paper.

It is where operations with regards to all the stock will be archived. Based on Kaizer 2008Inventory control systems maintain Information about activities within firms that ensure the delivery of products to customers. The subsystems that perform these functions include sales, manufacturing, warehousing, ordering, and receiving.

In different firms the activities associated with each of these areas may not be strictly contained within separate subsystems, but these functions must be performed in sequence in order to have a well-run inventory control system.

Certainly, there are plenty of small retail outlets, manufacturers, and other businesses that continue to rely on manual means of inventory tracking.

Indeed, for some small businesses, like convenience stores, shoe stores, or nurseries, purchase of an electronic inventory tracking system might constitute a wasteful use of financial resources. Moreover, the recent development of powerful computer programs capable of addressing a wide variety of record keeping needs including inventory management in one integrated system have also contributed to the growing popularity of electronic inventory control options. It has been mentioned that inventory system is more functional because of the distinctive performance in the aspect of speed, accuracy and stability of the system means that inventory and POS system with E-Catalogue and SMS Notification can increased production efficiency and reduce time and effort of an individual.

The said foreign and local studies contribute ideas to the proponent order to originate the proposed study. The proponent used database to easy access of files and for easier and faster processing of the selling and inventory transaction. The program was designated to generate reports such as monthly reports, inventory reports, sales invoice and list of items. In connection with the proposed system, the proponent proposed a new and faster way of processing business transactions.

The system also helped the user to know availability of the products. Review of related literature of pharmacy sales and inventory system also helped the manager to monitor the stocks and to get immediate notice for acquisition of additional products. The proponent acquires knowledge about the file processing and report generations through this study. This system can be used to store the details of the inventory, update the inventory based on the sale details, produce receipts for sales, generate sales and inventory reports periodically, etc.

This is one integrated system that contains both the user component used by salesperson, sales manager, inventory managers, etc. This system runs on multiple terminals, offer GUI to its users and connects to a common database s. The proponent acquires knowledge on real time inventor, generations of receipts and security features where in restricted information are only accessible by employees, managers, administrators, etch. The proposed system can be accessible by employees, administrators and customers, making online transaction possible.

Her system aims to come up with an efficient, and accurate mechanized system of preparing invoices that will keep track of the daily transaction and generate reports.

Her system focuses on the analysis and design of the sales monitoring system which will monitor the stacks inventory of the sales departments. This system of hers is somewhat related to our study but our system focuses more on the inventory monitoring system of a trading company. As a stated at the book of Passion 2004to improve their efficiency and reduce their cost of operation. Reports are more timely and accurate.

Computers have a large capacity to store data and tremendous speed to manipulate and recall data to the format a user wished to use which introduction of microcomputer computation of business is more affordable. Lewis 2002stated that: Some of the computers in business are to perform accuracy, to be as productivity, to decrease bottle necks or hassles, to alter cash flows, or to simply elevate your status.

According to Sybex Inc 2000visual basic provides a graphical environment in which the users usually designed the forms and control that become the building block of tour application. Visual Basic support many useful tools that will help the user to be more productive.

The hardware of a POS system is also distinctive and important. A typical system includes a display screen for the clerk, a customer display, a cash drawer, a credit card swiping system, a printer, and a bar code scanner, along with the computer loaded with the POS software.

Custom features may be added or removed, depending on the industry.

Pharmacy Sales and Inventory System Essay

A restaurant POS system, for example, may have a feature which prints order tickets directly in the kitchen, or a grocery store may have an integrated scale for weighing goods. The Financial management system can be used in different business establishment engaged in sales.

The said foreign and local studies contribute ideas to the proponent in order to originate the proposed literature. The facts and data contained in related literatures and studies are related to the proponent proposed study. It gives realistic ideas, guides and an alysis to be able to come up with the proposed study.