An Effective Inventory Management and Control System for Improving the Performance of the Manufacturing Enterprises

International Journal of Computer Science (IJCS) Published by SK Research Group of Companies (SKRGC).

Abstract

The main aim of this project is building a website which will help companies identify which and how much stock to order at what time. It tracks inventory from purchase to the sale of goods. The practice identifies and responds to trends to ensure there’s always enough stock to fulfill customer orders and proper warning of a shortage. Once sold, inventory becomes revenue. Before it sells, inventory (although reported as an asset on the balance sheet) ties up cash. Therefore, too much stock costs money and reduces cash flow. One measurement of good inventory management is inventory turnover. An accounting Measurement, inventory turnover reflects how often stock is sold in a period. A business does not want more stock than sales. Poor inventory turnover can lead to deadstock, or unsold stock. It also helps the customers know the actual goods they want to buy. eg, they should be able to see goods in stock and goods out of stock and with manufactured companies.

References

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Keywords

Inventory System Management, Securities and Exchange Commission.