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Introduction:
Technology
used: Back end: ORACLE
7.3, Front end: Developer 2000.
What
is an Inventory Control?
All
commercial organizations such as factories, warehouses and
traders (whose sellers as well as retailers) keep items in
stock, either for their own use or for sale. The factories
also stock.
When
the size of an Organization grows, usually the Inventory size also grows. When an
Organization holds an Inventory, It blocks its money. Many
times, the size of the inventory becomes unnecessarily
large and thus a lot of money becomes unproductive
reducing the size and cost of Inventory is called
INVENTORY CONTROL.
The
important functions of the Inventory control program are:
- Supplying
instant and accurate position of stock.
- Grouping
and sorting of items.
- Providing
classifications to assist in actual INVENTORY CONTROL.
- Giving
information and latest stock position about a
particular item.
- Online
or batch mode of issue of material to various
departments/cost centers.
- Identifying
and preparing indents or purchase orders for the items
whose stock goes below the preset limit.
- Keeping
track of items being purchased.
- Helping
in production planning.
- Maintaining
a history file for all purchases and issues.
- When
the stock item falls for all purchases and issues.
- When
the stock item falls below a preset limit, the stores
department purchases additional stock.
The INVENTORY
CONTROL program should take care of the following 3 basic
jobs:
- Marinating
the correct position
- Issuing
items from store
- Receiving
purchased items
In
Addition to the above thing the program should also do the
following things:
·
Calculate the cost of inventory on demand.
·
Prepare the list of those items where the stock has
fallen below the predefined limit.
·
Prepare the list of items where the stock has gone
higher than the predefined limit.
·
Keep track of
the complete record of all items issued and
purchased so far for the record (history) and for the
costing purpose.
·
Print various reports.
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