Local Literature

Importance of Inventory System

This system is important for a big company and also for a small

business this is the vital role by accouting all goods or products.

It also shows where a particular item is in the flow of sales,whether

it is in a warehouse or on a store shelf ,it also identifies which product is

out of stocks.Inventory sytem also tells the management about loss,

making it invaluable for implementation of loss control procedure.That is all

according to Bernard A Baretto.(Baretto,B,A.,2008)

Learning to do Inventory

The stocks inventory is as crucial as any other aspect of the

Business.According to Henry Ong,the way you handle your inventory

can mean the difference between success and failure ,since it’s one of the

crucial aspects of managing a business.(Ong,H.,2008)

Managing your Inventory

There are various notions about inventory.One school of thought

contends that having inventory when costumers want them outweight

the costs of carrying them.According to SME.com.ph,inventories exist

to allow companies to meet costumer requirements and it also exists normally

to smoothen the flow of goods through the production process.

The Philippines

Inventory has different types of management procedures

depending on the type of product being handled.According to J.I Herbon

et al, the inventory they undertook is to provide information for three

separate but interested studies.This is actually tells that products must not

be seen exactly same.(J.I Herbon et al ,2011)

Medicines Price Components in the Philippines

According to Douglas Ball and Klara Tisocki,for generic products,

retailer mark-ups ranged from 5% to 355% and distributor mark-ups were

of the order of 18-117%.Pricing as part of the business must be correctly

managed to avoid customers from finding other stores.

(Douglas Ball and Klara ,Tisocki .2007)

Financial Aspects of Inventory Management

Pharmacy managers face unique challenges when it comes to the

proper management of inventory, with balancing inventory levels that

satisfy patient’ needs while minimizing costs the primary goal. Based on

what the authors Keith N. Herist and Brent L. Rollins said, when discussing

inventory costs, most managers’ first think of the actual purchase cost of inventory .

However ,there are basic costs attributed to the overall cost of inventory,

ordering ,carrying,and stock-out costs.(Keith N.Herist and Brent L.Rollins,2009)

Point of sales is a system that is used for managing the sales of

Retail goods including their inventory.According to Bernard A.Barreto,

most business small or big use this for their cashier because they use this

system from making the transaction easy and fast.(Baretto,B..A.,2006)

Learning to do Inventory

“The stock Inventory is a crucial as any other aspect of business.(Henry Ong,2011)”

Inventory plays a vital role in a success of managing a business.Regardless of the size

of the Inventory of products that a company sells,valuing the essence of stocking

can control the investments for the productivity as well as the profits of a company

Take control of your Inventory

Whether,you run a mun and popas a big business effective inventory management is

A must(Henry Ong,2013).

As stated in his article,there are risk to take in every move an entrepreneur will do.

like,even an advantage can be a disadvantage example ,stocking for the holiday

seasons in which enterpreneurs tend to grab as an opputunity,of sales because of

quantity discounts.But little did they know that overstacking can be a serious cash

flow problem
Computer Programming Languages

According to Juny Pilapil La Putt author of introduction to Computer Concepts

Were published in 1984,most programmers of today’s evolution uses high level

Programming languages that can write,debug and understand easily.Pascal C,

Visual Basic.HTML,Javascript and Java are most commonly used by the programmers.

Effective Warehouse Management

In order for a business to have a organized

Infrastructure and orderly management to maintain a systematized warehouse.This will

Minimize the Inventory costs.The management a processes will be more effective when

Individuals of participants involved in the inventory management of a particular company

can practice and understand the flow of process with a help of a seminars.(Henry

Ong,2009).

Inventory Count Procedure

As started in,completing a precise and reliable inventory count a company should follow

Steps to achieve accurate reports.These processes are time consuming and take a great

deal of effort.Other than it costs a lot for the company to undergo these certain steps in

the process.They even did not know if it is accurate or not.These cause of the idea of

having a computerized inventory computerized inventory system because it gives the

needed reports as quick possible as well as it more accurate and reliable rather than

manual couting.Hence,it is expensive to buy a computerized inventory system,it only

costs you one time only and maintainance is not that much cost instead of weekly,

monthly,yearly physical counting.

According to Juny Pilapil La Putt in the Book Introduction to Computer Concepts,

1984,Operating System is a collection of programs that does a variety of task or

Funtions and added that operating system make data management that provides a stage

of system security that protects a certain form of data or information

Utility Software

According to La Putt (1984).The Operating System has already utility software programs

Includedin its package.Nortion utikities is an example of Utility Software that can

Diagnose and repair damaged disk,recover some files that are accidentally deleted,

ressured a crashed hard disk,and optimize hard disk drives performance

DOS (Disk Operation System)

In the early 1980’s and early 1990’s,DOS dominates the market as a standard operating

System for PC’s .It is because it has a character –based user interface ,meaning the

user have to type a command to,perform a meaning task,like copying,deleting

or running certain software of file,(La Putt,1984).