The similarity of the researcher study is that monitored of the items stocks in offices but not in warehouse and keep it tracks by the designate property number that we will identify were is those items assign. An Inventory control System is a system that encompasses all aspects of managing a company’s inventories: purchasing, shipping, receiving, tracking warehousing and storage, turnover, and reordering. In different firms, the activities associated with each of these areas may not be strictly contained in separate subsystems, but these functions must be performed in sequence in order to have a well-run inventory management, including counting and monitoring of inventory items, recording and retrieval of item storage location, recording changes to inventory, and anticipating inventory needs, including inventory handling requirements. Through the use of such system can be further increased when a business integrates its inventory control systems with other systems such accounting sales to better control inventory levels (Harris, Angela D, 2007).
The study about inventory management has a similarity to the researcher study because it also tracking but not in items but in sales and knowing the needs to restocked those is the dissimilarity. Inventory management is the process of managing inventory for product-related business. Inventory management is necessary for many reasons, including tracking your sales, knowing what needs to be restocked and conducting trend analysis (Asdem, 2012).
In this study about the inventory management has a similarity by maintain the inventory and easily monitored. Inventory management is important from the viewpoint that it enables to address two important issues: first, the firm has to maintain adequate inventory for smooth production and selling activities. And second, it has to minimize the investment in inventory to enhance firm’s profitability (Keshav, 2010).
In similarity with the proposed system, the system will use the property number to identify on each item. Using this property number, the system can also track the items or objects in the storage room. School property inventory of every departments or offices wherein selected items which the system can monitor the property inside. Using a portable or wireless handheld bar code or RF(real-time) the inventory can adjust real time as the products are received and ordered. It can also provide a multiple locations per products, group product and catalog numbers. Notify warehouse personnel of expiring/inactive products. Determine and track minimum stock levels. These programs help warehouses better understand how much stock is on hand, where each item is located, when certain items are nearing reorder points, and what orders need to be shipped to clients (Roland, 2015).
As the researched conducted by the U.S Small Business Administration, “Inventory refers to stock of anything necessary to do business” (U.S Small Business Administration, 2010) the U.S Small Business Administration publication describes what constitute successful inventory management balancing cost versus benefits of inventory, including maintaining a wide assortment without spreading the rapidly moving items too thin, increasing inventory turnover without sacrificing service, keeping stock low without sacrificing performance, obtaining lower price by making volume purchases, maintaining an adequate inventory without an excess of absolute items.
Companies are increasing employing Inventory System. Computers start with inventory counts in memory. Withdrawals are recorded by the computer as they are made, and the inventory balance is constantly revised. When this new order is received, the recorded balance is increased. Retail stores have carried this system quiet far, each item has magnetic codes, and as on item is checked out, it passes through an electronics reader, which then adjust the computers inventory balance, at the same time the price is fed to cash register tape. When the balance drops to the recorder point, an point is place. (Mr. Eugene F. Brigman 2006)