Inventory Management System

Inventory Management System Product ProfileThe Inventory Management System is aimed at giving high transparency in managing the stores. In the present situation the Inventory management system should be able to manage stock as well as the Amount for the stores.In any Inventory Management System, the whole system is divided into two main modules. They are: Purchases and Sales.Sales ModuleThe Sales Section consists of the receipts against the cash or credit given by the customer.The Purchases Section consists of the Invoices that are given by the Suppliers against the Purchases made by the Stores.The data that is present with the Stores need to be imparted into the Database. For that we need to enter data into the database. The input form should be handful here. The design and other details regarding input should be as specified by the Stores in charge. Also there should be specific provisions for modifications. If possible the items should be grouped into particular section if they have special offers or if any extra taxes need to be levied on them.For billing we need the form where the current date and time are already present, and the entry of other details should be from the Bar code scanner. Once an item is scanned then all the details of that particular item should be filled in the respective places. We also give the stores in-charge to put VAT on the item if required. Also there is a special provision for giving discount if needed. Then after the bill is paid by the customer the bill receipt is saved into database wih a unique Receipt no. and the Stores In charge should be able to the print the bill using printer.The next most important part is to have a particular set of reports as per the specification of the Stores Manager. This can be day wise bill report and or monthly report andor Quarterly, half-yearly or annul reports. Apart from this we can also provide the sales report according to the item or according to company brand over a period of time.Creating Master information for the database is another important aspect in inventory management. The Master information can be designed in such a manner that it has gives the details about items list as per group or as per item. The most important aspect is giving information about the Closing stock and Opening Stock day to day. This is must because if we want to get reports period wise the closing stock and opening stock and their costs details should be present.Puchases ModuleThe Purchase Module is most important part in maintaining the inventory it describes when and where the products are purchased and at what cost how much. These are to be registered so that it becomes easy to directly assess the costs and closing balances. Here in Purchases the master information about Suppliers is stored through input form. Any new Supplier is added into the database through the input form. So the input form for new supplier should be maintained.The invoices for the goods that are given by the supplier should also be stored, through the input form. Also the stock and the bill amount for the no. of products should be entered. The bill payments either by credit or unpaid bills details and replacement offers should be specifically mentioned.Features Provided The stock details should be managed as a day to day activity.The reports for the Purchase section are normally very specific from business to business. Though generally the invoice reports detailing about the details of the new items purchased should be given. They are again specific which could be either weekly, monthly, quarterly or over the period of time. The account report on how the stores performed should be given to show the payments dues or to show the profits.

The Inventory Management System is aimed at giving high transparency in managing the stores.