Inventory Summary
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Inventory Systems Summary
Jana LeBeau, Mike McDonald, Diane Mendes, Erica Richardson, and Connor Shaw
QRB501
May 9, 2011
Paul Hermis
Inventory Systems Summary
There are a variety of different inventory systems. The main systems are manual count, radio frequency identification system (RFID), universal product code system (UPC), and newer models to include internet software. Choosing an inventory system is based on the type of business that one is running. It is crucial to select a system that works the best for the type of business, which would be using the system. By looking at the different systems a company can decide what will work best for their specific needs. To make an informed decision, a comparison of the different systems should be undertaken. Below are the different types of systems and the advantages and disadvantages of each.
Manual entry system. The first system we looked at was the manual entry system. A system, which falls into this category, would be the inventory system. According to Bragg (2011) the inventory system is a windows based and networkable system and is usually compatible with accounting software such as Quickbooks and programs such as Excel. This type of system is used to track and manage inventory, purchasing, manufacturing, packing and shipping, sales of products, and statistical data. The system is used for inventory control as well as the other items mentioned, which some companies like to keep track of depending on the type of company. The inventory control portion of this system keeps and filters a master list of items as well as the details of each unit. the system can track inventory at multiple warehouse locations and can act as a movement log (moving the inventory item from one warehouse to another or a warehouse to a point of sale location). The system can be used using serial numbers, lot numbers or the bar code system. The inventory can be categorized as well as accounting whether or not...
Jana LeBeau, Mike McDonald, Diane Mendes, Erica Richardson, and Connor Shaw
QRB501
May 9, 2011
Paul Hermis
Inventory Systems Summary
There are a variety of different inventory systems. The main systems are manual count, radio frequency identification system (RFID), universal product code system (UPC), and newer models to include internet software. Choosing an inventory system is based on the type of business that one is running. It is crucial to select a system that works the best for the type of business, which would be using the system. By looking at the different systems a company can decide what will work best for their specific needs. To make an informed decision, a comparison of the different systems should be undertaken. Below are the different types of systems and the advantages and disadvantages of each.
Manual entry system. The first system we looked at was the manual entry system. A system, which falls into this category, would be the inventory system. According to Bragg (2011) the inventory system is a windows based and networkable system and is usually compatible with accounting software such as Quickbooks and programs such as Excel. This type of system is used to track and manage inventory, purchasing, manufacturing, packing and shipping, sales of products, and statistical data. The system is used for inventory control as well as the other items mentioned, which some companies like to keep track of depending on the type of company. The inventory control portion of this system keeps and filters a master list of items as well as the details of each unit. the system can track inventory at multiple warehouse locations and can act as a movement log (moving the inventory item from one warehouse to another or a warehouse to a point of sale location). The system can be used using serial numbers, lot numbers or the bar code system. The inventory can be categorized as well as accounting whether or not...