PROJECT TOPIC: ANALYSIS AND DESIGN OF COMPUTERIZED STOCK CONTROL SYSTEM (A CASE STUDY OF CHAMPION BREWERY COMPANY UYO)
CHAPTER ONE
1.1 INTRODUCTION
This chapter introduces the fundamental of analysis and design of a computerized stock control system. It discusses the statement of the problem regarding the project topics, the purpose of the study, aim and objectives of the study the research questions, scope of the study, significance of the study and definition of terms, etc.
Development in business organizations in recent times and the credence lent to stock recording and controlling of business transactions by users, coupled with incessant fraud and misappropriation have warranted that stock controlling system be done with the help of a computer system.
Stock is defined as materials, items or goods stored in the shop or warehouse for company use. For many organizations, physical stock represents significant investments in resources. The problems associated with stock holding, be the problems about quantity and type of stock to holding, be the problems about quantity and type of stock to hold, the management of stock is of important of industrial organization. A careful control of purchasing quantities can be used in reduce the total investment in stock, and this is the main concern of inventory management. It is important that the variety of individual items hold in stock be reduced as this will also reduce the number of forms and paper work invalid in stack control. The simulation of alternative forecasting techniques is only the beginning of the various parameters that governs the performance of stock controlling system is very necessary.
Before discussing and example of a small lotion in this area, a resume of basis inventory, factors very enormous across the range, one person might be interest in developing a system that is virtual self running and will be willing to sacrifice a certain degree of efficiency, or ultimately, for the sake of having and automatic system, where as another persons prepared to devote a lot of time and thoughts toward the size of and order because it is in the nature of a “one off” decision and the question of automatic running from day to day is irrelevant. Not infrequently an entirely new item is requisitioned and continuously stocked despite the fact that a similar item that is already in stock would have to save the purpose. An item index or catalogs of some sort informing employees or what is in stock should help these types of duplication.
In some cases stock lines can be reduced by limiting the different models or type of item ordered. By standardizing the printer models for example, a firm can cut down on the different size of ribbons necessary to stock. A computerized stock controlling system runs on similar principle like manual ones, but are a more flexible and information is easier to retrieve. One can quietly get a stock valuation or find out how well a particular item of stock is moving. A computerized system is a good option for business or organizations dealing with many different types of stock.
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Stock controlling system is used to established the frequency and timing of purchase order as well as the quantity by analyzing the usage rates of cash items. These are becoming increasingly important as the time-lay between the placing of orders with supply and delivery which becomes longer and longer. Adequate documentations, moreover, should also help to improve searching. Most firms invariably discover goods or items disappearing with no indications whether it is through being careless, misdirection, pilferage and fraud. Good records reflects diffidence and discrepancies immediately so that they are effectively committed, the need for and error fraud prove stock controlling and monitoring because inadvertent. This led to the introduction of computer system in stock recording.
