Chapter 2 Inventory System

Chapter 2

This represents the review about the related reviews including literature and studies underlying theoretical and conceptual framework of our study. This also includes the generalization and synthesis made after review of the related.
Foreign Literature
The University of Alberta stated Facility Inventory System has the responsibility to ensure that all new equipment acquisitions are inventoried. Initially, this involves scrutinizing all completed purchase orders, followed by an 
Equipment Inventory staff member locating and tagging the equipment and processing the information.
Local Literature
 According to Ariel Magat (2002) he stated that the Inventory System of the vital to any institution, agency, or department. The proper safekeeping, processing and disposal of records play important roles in the efficient, effective and smooth operation that eventually would lead to the success attainment of the goal and objectives of institution, agency and department concerned.

Foreign Studies
Suresh Ram (2014) Managing our inventory as a retailer is a humongous task. Inventory management grows more and more complicated with increase in sales volume and diversification of product assortments.
Dr. Relph Brzeski. Inventory can be call as Professional Inventory Management if they meet the terms. Good Inventory, Extending Stock Classification for Greater Control, A worked example showing the impact of moving from 3 to 6classes, Buffer Stock Methodology, Simple buffer stock, Stochastic buffer stock, A worked example showing the impact of simple safety stock and stochastic safety stock.
According to Neil Kokemuller, by using of Inventory system they have some disadvantages by using of this. These are (Customer Needs, Inventory Costs, Coordination, and Risks).
Vaughan (1994) A model of the Perishable Inventory System with reference to consumer-realized product expiration; Publishing Company, Operational...