Stock Info
Stock Info
INTRODUCTION
Stock management is the process of efficiently overseeing the constant flow of units into and out
of an existing stock of goods. This process usually involves controlling the transfer of units in
order to prevent the inventory from becoming too high, or dwindling to levels that could put the
operation of the company into jeopardy. Inventory management is primarily about specifying the
size and placement of stocked goods. It is a science primarily about specifying the shape and
percentage of stocked goods. Stock management is required at different locations within a
facility or within multiple locations of a supply network to protect the regular and planned course
of production against the random disturbance of running out of materials or goods. The scope of
inventory management also concerns the fine lines between replenishment lead time, carrying
costs of inventory, asset management, inventory forecasting, inventory valuation, inventory
visibility, future inventory price forecasting, physical inventory, available physical space for
inventory, quality management, replenishment, returns and defective goods and demand
forecasting. Planning and controlling of inventory management is concerned with the following
three basic questions:
In this context, the planning stage deals with the question of which items should be kept on stock
and which specific to stock the items has to be defined. The third question is concerned with the
re-order point, of when to order in which order quantity. These questions are closely concerned
with the overall research aim and the implementation of ecommerce. The initial question is about
which items or spare parts should be provided to the customer to fulfill the customer needs.
Furthermore, the whole distribution site and supply chain processes have to be determined.
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1.2 STATEMENT OF PROBLEM
The current system operates manual stock system, from stocks, products, ordering and purchases
etc recorded in a book. This is faced with errors, incompleteness, and insufficient data for
analysis. Information regarding stocks, products, sales and purchases are still in black and white
which is not properly organized and managed. From the wholesalers to retailer bills, tickets,
vouchers, receipts of products are recorded in a book but further operations are not being
properly handled. As a result it is difficult in processing, updating and managing. The factors for
these difficulties are:
1. Time Consumption: Manual inventory systems are time consuming, as the business
owner must keep track of inventory sales on a daily basis, while updating the system
manually at the end of the day.
3. Physical Counts: A manual inventory system does not provide any number, as all
numbers from the inventory are gained through physical inventory counts. One of the
difficulties of running a manual inventory system is that physical inventory counts
must be performed frequently to control the items in the inventory. This is time
consuming and can cost the business money, if employees must come in to help out
outside of business hours.
2
difficult task, as one employee may lose the list of items sold or another may forget to
write down a sale.
5. Ordering Supplies: A manual inventory system does not update at the end of the day
with updated inventory counts. This means you must go through the inventory items
each time you need to place an order for new raw materials, products or supplies for
the inventory. This can be a time consuming process, as you will physically have to
go through each product box and browse through the items.
3
time to something more useful, by removing the unnecessary error prone complications and
efforts
4
MYSQL: MYSQL is a relational database management system written in C and C++ that runs
as a server providing multi user access to a number of databases.
PHP: Hypertext Preprocessor is a scripting language originally designed for producing dynamic
web pages.
Unified Modeling Language (UML): It is used to specify, visualize, modify, construct, and
document the artifacts of an object-oriented software-intensive system under development.
5
CHAPTER TWO
LITERATURE REVIEW
Products are considered as the business resources for the organization. This includes managing
the product with appropriate way to review any time as per the requirement. Therefore it is
important to have a computer based Stock Management System which has the ability to generate
reports, maintain the balance of the stock, details about the purchase and sales in the
organization. Before developing this application we came up with two Stock Management
System existing in the market, which helps to give the knowledge for the development of our
projects. This application software are only used by the large organization but so we came up
with the application which can be used by small company for the management of their stock in
the production houses.
After analyzing the other stock management system, we decided to include some of common and
key features that should be included in every stock management system. So we decided to
include those things that helps the small organization in a way or other.
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stock control will go a long way in preventing loses and waste as such increase the point level of
the organization.
In fact a slide percentages increase in efficiency a stock control will amplifies the profitability
level. Since stock is often regarded as a life wire or life given element of an organization, the
control of stock therefore is highly significant and should start right from the time the need is
identified to purchase order expediting. Receipt and inspecting storage and issue so that services
will be rendered in the most effective manner and at the lower possible cost. The achievement of
the potential benefits that are there in an efficient stock control system will only be possible if
any one when store personal are well trained in their profession make available necessary
material handling equipment and above all ensure an effective secure o the stock card, store
house, store personnel as well as the keys to every entrance.
In September, 1969 the federal military government decided to merge the (ECN) Electricity
Corporation of Nigeria and (NDA) Nigeria Dams Authority into a single body to avoid
duplication for resources in the two organizations.
A year later, a Canadian firm of consultants (Shansimont Ltd) was appointed to look into the
technical detail of the merger. The report was submitted in 1974.consequently a decree merging
the two organizations in the National Electric power authority (NEPA) is to develop in efficient,
coordinated and economical system of electricity for all parts of the federation.
The national grib connected the facilities resulting from the merger, the grib interconnection
includes generating at Kainji, Lagos (Ijora) Ughali (Delta) Afarm and Oji River.
In addition there were diesel generator installation at Ibadan, Benin,Warri, Aba, Enugu, Zaria,
Kaduna, Owerri, Abeokuta and Oshogbo further, diesel generation supplied system in
population centers isolated from the grib include Gusau, Sokoto, Bauchi, Yola, Maidugari,
Potiskum and Mubi. The grib was fact two major sub-system since the connection between the
western system and Onitsha and was yet to be effected, a 330Kva transmission was in operation
in the western system between Kainji and Lagos.
March 2005, witnessed major milestone in the electricity power sector reform process with the
signing into law of the (EPSR) act in March, 2005 and the mergence of Power Holding
Company of Nigeria Plc in place of National Electric Power Authority as well as the subsequent
Electricity Regulatory Commission (NERC) on 31st October, 2005. The visible results of the
ongoing transformation of the company include staff re-orientation anchored on customer service
7
delivery. The new focus in the unbundled units has resulted in improved revenue collection and
customer services delivery with a land mark collection of seven billion Naira (N7,000,000,000)
in October 2005.
In the last three months we have consistently on a daily basis achieved pack generation of over
3000- mw to the national grid we are optimistic that with this improvement in generation
availability and the federal government commitment to built it new power station that will add
6000 Mw new capacity their quest to meet the 10,00 Mw target by 2010 was not reality. The
National Electric Power Authority central Kaduna was established in 1976 now Power Holding
Company of Nigeria (PHCN) made up of the following.
Administration
receipt and packaging
issue and storage
Account
stock control
At inception, there were about twenty (20) staff but since then, there has been an increased
manpower section namely inspection and audit section the principal objective of establishing a
central issue to fifteen (15) states at the Northern state.
Since national electric power authority has three central store which the country made up of
central store Oshodi, Issuing material to western states of the country and central store port-
Harcourt for eastern states of the country.
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1. Raising your level of customer service quality, reducing the loss of sales due to lack of
product and generating greater loyalty to your company.
2. Improving cash flow of your company and having higher stock turnover.
3. Being able to identify seasonality in your products will help you plan better.
4. Easily detecting slow-moving items to develop strategies to get rid of them easily.
5. Reducing your freight costs for further planning and reduction of emergency purchases.
6. Monitoring the quality of the products to have them well identified and monitored.
7. Releasing and optimizing space in your stock to increase profitability per square meter of
storage.
8. Controlling inputs, outputs and location of the goods.
Implement a stock control management system as soon as possible to improve your
company’s financial performance and operational efficiency.
Finances
The cost of borrowing money to stock your stock is an external factor that varies with the
economy. Closely watching interest rates can help you plan your purchases. The tax write-offs
associated with your stock costs are internal factors that always come into consideration,
especially when preparing for end-of-year tax returns. The risk you take when buying stock may
guide your buying decisions as well. An installment loan requires that you make payments
regardless of your sales while an equity loan usually doesn't require repayment until you've made
some profits. Other financial factors that affect your stock management decisions include cost of
warehouse operations and transportation costs. The cost of gas is an external factor while the
choice to purchase your own trucks or use outside contractors can prove to be a more predictable
internal factor.
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Goals
Your sales goals and customer service objectives are internal controls that you direct. For
example, if you promise same-day delivery, your stock management must have the product on
hand to meet customer demands. Economic downturns, poor real estate markets or local
competition are external controls over which you often have no recourse. Flexibility to deal with
market ups and downs should be an integral part of your company goals to bend pricing rules,
offer discounts or sit on your stock when shifts in consumer buying habits occur.
Responsibility
As a business owner, you have the ultimate responsibility to oversee your inventory and ensure
orders are placed appropriately and regular audits performed. While you may hire managers and
accountants to oversee the process, your primary overseeing duties are the only internal control
you can count on. Employees typically don't have the same stake in your business as you do and
may not keep a close eye on inventory. As an external factor, you have some control over their
fate, however. You can reward employees who maintain stock controls set in place and remove
those who continually make bad stock decisions.
Availability
One of the most frustrating external factors for business owners is an unpredictable or unreliable
supplier. Product suppliers who deliver poor-quality merchandise also can throw unexpected
snags into your stock supply chain. Understanding suppliers' lead-time requirements can help
you maintain sufficient stock. Finding and utilizing backup suppliers is an internal decision that
also can cover stock shortages. Joining a bulk-purchasing group places some of your stock
control in the hands of others, but may prove to be worthwhile.
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CHAPTER THREE
SYSTEM METHODOLOGY AND DESIGN
3.1 DESCRIPTION OF EXISTING SYSTEM
The old manual system was suffering from a series of drawbacks. Since whole of the system was
to be maintained with hands the process of keeping, maintaining and retrieving the information
was very tedious and lengthy. The records were never used to be in a systematic order. There
used to be lots of difficulties in associating any particular transaction with a particular context. If
any information was to be found it was required to go through the different registers, document
there would never exist anything like report generation. There would always be unnecessary
consumption of time while entering the records. Once the records were entered it was very
difficult to update these records.
The reason behind it is that there is lot of information to be maintained and have to be kept in
mind running the business. For this reason we have provided features present system is partially
automated (computerized), actually existing system is quite laborious as one has to enter same
information at three different places.
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Proper control of the higher officials
Minimize manual data entry
Minimum time needed for the various processing
Greater efficiency
Better service
User friendliness and interactive
System analysis is conducted for the purpose of studying a system or its parts in order to identify
its objectives. It is a problem solving technique that improves the system and ensures that all the
components of the system work efficiently to accomplish their purpose.
A feasibility study is a short, focused study, which aims to answer a number of questions:
Does the system contribute to the overall objectives of the organizations?
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Can the system be implemented using current technology and within given cost and
schedule constrains?
Can the system be integrated with systems which are already in place?
Define the urgency of the problem and the acceptability of any solution; if the system is
developed, will it be used? Includes people-oriented and social issues: internal issues, such as
manpower problems, labour objections, manager resistance, organizational conflicts and policies;
also external issues, including social acceptability, legal aspects and government regulations.
In preliminary investigation feasibility study has three aspects..
Technical Feasibilty
Operational Feasibilty
Economical Feasibility
Technical Feasibility
Technical issues involved are the necessary technology existence, technical guarantees of
accuracy, reliability, ease of access, data security, aspects of future expansion.
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Technology exists to develop a system.
The proposed system is capable of holding data to be used.
The proposed system is capable of providing adequate response and regardless of
the number of users.
The proposed system being modular to the administrator, if he/she wants can add
more features in the future and as well as be able to expand the system.
As far as the hardware and software is concerned, the proposed system is
completely liable with proper backup and security.
Operational Feasibility
If the system meets the requirements of the customers and the administrator we can say that the
system is operationally feasible.
The proposed system will be beneficial only if it can be turned into a system which
will meet the requirements of the store when it is developed and installed, and there is sufficient
support from the users
The proposed system will improve the total performance.
Customers here are the most important part of the system and the proposed system will
provide them with a convenient mode of operation for them.
The proposed system will be available to the customers throughout the globe.
The proposed system will provide a better market for different dealers.
Hence, the proposed system is operationally feasible.
Economical Feasibility
Economic Feasibility is the most frequently used method for evaluating the effectiveness of the
proposed system if the benefits of the proposed system outweighs the cost then the decision is
made to design and implement the system.
The cost of hardware and software is affordable.
High increase in the amount of profit earned by going global.
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Easy and cheap maintenance of the system possible.
Very cheap price for going global.
Hence, the proposed system is economically feasible.
Database design is the process of producing a detailed data model of database. This data model
contains all the needed logical and physical design choices and physical storage parameters
needed to generate a design in a data definition language, which can then be used to create a
database. A fully attributed data model contains detailed attributes for each entity.
The term database design can be used to describe many different parts of the design of an
overall database system. Principally, and most correctly, it can be thought of as the logical design
of the base data structures used to store the data. In the relational model these are
the tables and views. In an object database the entities and relationships map directly to object
classes and named relationships. However, the term database design could also be used to apply
to the overall process of designing, not just the base data structures, but also the forms and
queries used as part of the overall database application within the database management
system (DBMS).
The process of doing database design generally consists of a number of steps which will be
carried out by the database designer. Usually, the designer must:
Within the relational model the final step above can generally be broken down into two further
steps, that of determining the grouping of information within the system, generally determining
what are the basic objects about which information is being stored, and then determining the
relationships between these groups of information, or objects. This step is not necessary with
an Object database.
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Users Table
NAME TYPE FIELD SIZE EXTRA
Id INT 10 AUTO_INCREMENT
Email Varchar 50
Username Varchar 30
Stock Table
NAME TYPE FIELD SIZE EXTRA
Id INT 10 AUTO_INCREMENT
Stock Varchar 50
Price INT 10
Bags INT 10
Stcokdate DATE
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Record Table
Id INT 10 AUTO_INCREMENT
Stock Varchar 50
Price INT 10
Bags INT 10
Type Varchar 20
RecordDate DATE
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FLOW CHART
START
ADMIN LOGIN
NO YES
DASHBOARD
PROCESS
STOP
18
SYSTEM ARCHITECTURE
INDEX
ADMIN LOGIN
DASHBOARD
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CHAPTER FOUR
DESIGN AND IMPLEMENTATION
4.1 SYSTEM DESIGN
It is a process of planning a new business system or replacing an existing system by defining its
components or modules to satisfy the specific requirements. Before planning, you need to
understand the old system thoroughly and determine how computers can best be used in order to
operate efficiently.
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Back-End Languages
In this Web Application, Two back-end languages are used: The Server –Side programming
Language, And the Database
This section identifies all the modules in the new systems design and lthe relationship that exit
between them. System design is the process employed to develop a series with logical order i.e
developing an algorithm whereby input is applied to get a specified output. This stage determines
the manner in which an algorithm whereby input is applied to get a specified output. This stage
determines the manner in which program elements relate to one another as regards design.
Here the design stag is transformed into program codes. This phase is computer and compiler
specified. It is the stage whereby the develop actually writes out program codes that will carry
out all instruction to be performed by the system. In other words output documents of the design
stage are converted into program instructions in this stage.
However, to successfully build and implement this new system , a number of things are very
necessary and are much needed required to be in place. These requirement can be sub-grouped
into hardware software requirement or in other words system specifications.
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4.8 SYSTEM REQUIREMENT
The Software developed can be run on most Microsoft Operating Systems suchs as Windows
2000, Windows NT, Millennium or XP. It also requires compatible anti-virus software operating
system in use in order to check the system against virus attacks.
Stock Page
22
History Page
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CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
SUMMARY OF FINDNGS AND RECOMMENDATION
The main objective of this project is to produce an Inventory Management system for Retailers.
At present the main target retailer has no stock management system in place. Any goods, which
are sold, are not re-stocked immediately. Telephone calls are made to specific suppliers to re-
order stocks when needed. The impact of the current manual paper based system relies on the
owner’s past business experience and memory, when placing orders and making purchases from
wholesalers. The current business processes do not allow for efficient business practices, which
can be a future business cost and also generating stock information manually can be time
consuming for the owner. This project aims to solve this problem with the following set of
objectives.
Conduct an investigation and develop an understanding of the current system and stock
processes
Investigate and assess possible technologies for improving the current system
Design, develop and create a prototype software solution for testing
Create a user manual of the system for the owner
It is recommended that this research work should be implemented for retailers. Effort should be
made by retailers to ensure that all records regarding the items are properly entered in to the
system. It is also recommended that the computerized system should replace the manual system
of inventory recording and processing in order to hasten managerial decision.
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CONCLUSION
This research has designed a Computerized Stock Management System for Retailers to ascertain
stock level for retailers, when to order for more stocks, keep status and updates of transactions,
thereby helping managerial decisions, progress level and stock taking. But there is always a room
for improvement in any software no matter how efficient the system may be. The important thing
is that the system should be flexible enough for future modifications. The system has been
factored into different modules for the management of stock system to make system adapt to the
further changes. Every effort has been made to cover all user requirements and make it user
friendly.
25
REFERENCES
26
Wallin, C., “What is the "right" inventory management approach for a
purchased item?” International Journal of Operations & Production
Management. Bradford: Vol. 26, Iss. 1/2;
Yang, B., and "Implications of postponement for the supply chain", International
Journal of Production Research, Vol. 41 No.9.
http://en.wikipedia.org/wiki/Inventory:// www.barcodesinc.com/
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APPENDIX
<!DOCTYPE HTML>
<html>
<head>
<title>Stock Management</title>
<link href="css/bootstrap.css" rel="stylesheet" type="text/css" media="all">
<!-- jQuery (necessary for Bootstrap's JavaScript plugins) -->
<script src="js/jquery-1.11.0.min.js"></script>
<!-- Custom Theme files -->
<link href="css/style.css" rel="stylesheet" type="text/css" media="all"/>
<!-- Custom Theme files -->
<meta name="viewport" content="width=device-width, initial-scale=1">
<meta http-equiv="Content-Type" content="text/html; charset=utf-8" />
<meta name="keywords" content="Training Responsive web template, Bootstrap Web
Templates, Flat Web Templates, Android Compatible web template,
Smartphone Compatible web template, free webdesigns for Nokia, Samsung, LG, SonyEricsson,
Motorola web design" />
<script type="application/x-javascript"> addEventListener("load", function() {
setTimeout(hideURLbar, 0); }, false); function hideURLbar(){ window.scrollTo(0,1); }
</script>
<!--Google Fonts-->
<link href='//fonts.googleapis.com/css?family=Asap:400,700' rel='stylesheet' type='text/css'>
<link href='//fonts.googleapis.com/css?family=Kreon:400,700,300' rel='stylesheet'
type='text/css'>
<!-- start-smoth-scrolling -->
<script type="text/javascript" src="js/move-top.js"></script>
<script type="text/javascript" src="js/easing.js"></script>
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<script src="js/clndr.js" type="text/javascript"></script>
<script type="text/javascript">
jQuery(document).ready(function($) {
$(".scroll").click(function(event){
event.preventDefault();
$('html,body').animate({scrollTop:$(this.hash).offset().top},1000);
});
});
</script>
<!-- //end-smoth-scrolling -->
<script src="js/bootstrap.min.js"></script>
</head>
<body>
<!--header start here-->
<div class="banner">
<div class="container">
<div class="header">
<div class="col-md-7 logo">
<a href="index.php"><h1>MichealInv Stock Mg</h1></a>
</div>
<div class="col-md-5 details">
<div class="addre">
<span class="location"> </span>
<div class="detail-para">
<p>One reject</p>
</div>
<div class="clearfix"> </div>
</div>
<div class="addre ad-para">
<span class="tel-ph"> </span>
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<div class="detail-para">
<p> Email: <a
href="mailto:info@example.com">inventory@michealinv.com</a></p>
</div>
<div class="clearfix"> </div>
</div>
<div class="addre addres-mes">
<span class="mess"> </span>
<div class="detail-para">
<p>+2348173606527</p>
</div>
<div class="clearfix"> </div>
</div>
<div class="clearfix"> </div>
</div>
<div class="clearfix"> </div>
</div>
<div class="top-nav">
<div class="navbar-header">
<button type="button" class="navbar-toggle collapsed" data-
toggle="collapse" data-target="#navbar" aria-expanded="false" aria-controls="navbar">
<span class="sr-only">Toggle navigation</span>
<span class="icon-bar"></span>
<span class="icon-bar"></span>
<span class="icon-bar"></span>
</button>
</div>
<div id="navbar" class="navbar-collapse collapse">
<ul class="nav navbar-nav">
<li class="home"><a href="admin.php">Dashboard</a></li>
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<li class=""><a href="stock.php">Stock</a></li>
<li class=""><a href="record.php">Records</a></li>
<li class=""><a href="calcu.php">Calculate
Profit</a></li>
<li class=""><a href="history.php">History</a></li>
</ul>
</div>
</div>
</div>
</div>
31
$totalquan+= $row['bags'];
}
echo $totalquan;
?>
</span></h3>
</div>
</div>
</div>
<div class="col-md-4">
<div class="panel panel-info">
<div class="panel-heading">
<h3 class="panel-title">Total Capital <span class="badge" style="float:
right;">
<?php
$totalrev = 0;
$sql5 = "SELECT * FROM
stocktab";
$result5 = mysqli_query($conn,
$sql5);
while($row =
mysqli_fetch_array($result5)){
$totalrev+= $row['price'];
}
echo "N". $totalrev;
?>
</span></h3>
</div>
</div>
</div>
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<div class="col-md-4">
<div class="panel panel-danger">
<div class="panel-heading">
<h3 class="panel-title">Stock <span class="badge" style="float:
right;">4</span></h3>
</div>
</div>
</div>
</div>
<div class="row">
<div class="col-md-4">
<div class="panel panel-danger">
<div class="panel-body" style="background-color: green; ">
<center><h1><?php $count1 = 0;
$dsdate = date("Y-m-d");
$sql = "SELECT * FROM records WHERE
recorddate = '$dsdate' AND type = 'Sold' ";
$result = mysqli_query($conn, $sql);
while($row = mysqli_fetch_array($result)){
$count1++;
}
echo $count1;
?></h1></center>
</div>
<div class="panel-body">
<center><h4>Today's Sales</h4></center>
</div>
</div>
</div>
</div>
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<div class="row">
<div class="col-md-4">
<div class="panel panel-danger">
<div class="panel-body" style="background-color: gold">
<center><h1><?php $count2 = 0;
$sql1 = "SELECT * FROM records WHERE
recorddate = '$dsdate' AND type = 'Purchase' ";
$result1 = mysqli_query($conn, $sql1);
while($row = mysqli_fetch_array($result1)){
$count1++;
}
echo $count2;
?></h1></center>
</div>
<div class="panel-body">
<center><h4>Today's Order</h4></center>
</div>
</div>
</div>
</div>
<div class="row">
<div class="col-md-4">
<div class="panel panel-danger">
<div class="panel-body" style="background-color: blue">
<center><h1>15</h1></center>
</div>
<div class="panel-body">
<center><h4>Total Dailysales</h4></center>
</div>
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</div>
</div>
</div>
</div>
<!--<div class="panel-body">
Panel content
</div>
</div>
header strat here-->
<!--welcome start here-->
<!--welcome end here-->
<!--testimonial start here-->
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</div>
<!--/copy rights-->
</body>
</html>
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