Inventory Management for Large Scale Industries

Abstract

Companies can use inventory management to determine which and how much stock to order at what time. It keeps track of inventory from the time goods are bought to sold. In order to ensure that there is always sufficient stock to fulfill customer orders and that adequate notice is given in the event of a shortage, the procedure identifies and responds to trends. Inventory turnover is one indicator of effective inventory management. Inventory turnover is a accounting measure of how frequently stock is sold over a period. A company does not want more inventory than it sells. Deadstock, or stock that has not been sold, can result from low inventory turnover. A company's health depends on its inventory management because it helps ensure that there is never too much or too little stock on hand, reducing the likelihood of stockouts and inaccurate records. A useful inventory management system is one that allows shopkeepers to keep track of purchases and sales. Customers will be dissatisfied if inventory is mismanaged. This inventory will eliminate paper work, human errors, manual delays, and speed up the process. This inventory management system will be able to track sales and available inventory, telling a shopkeeper when it's time to reorder and how much to purchase. too much cash tied up in slower sales and warehouses. The inventory management system is a Windows application designed specifically for Windows operating systems that focuses on inventory control and generation. The software consists of two components: Microsoft Visual Basic 2010 is used to build the frontend, and SQL Server Database 2008 serves as the backend. Keywords: Software, public inventory, and a database