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Introduction In today’s world technological advances are taking place at a rapid pace. One of the goals of everyone is working towards is to satisfy customer needs. Since manual inventory consumes a lot of time and is prone to errors, it would be helpful to build a system that will computerize the transactions from acquisition of the product description to updating the inventory database. The computerized inventory system will improve employees’ work efficiency by computerizing routinely and time consuming tasks such as the time spent in taking down product information. As a result, the time can be used in more productive activities. The accuracy of the current system will also be improved, since the computerized inventory system would eliminate the need of constantly encoding lengthy details of products by having an inventory database. Monitoring encompasses the tracking of individual processes, so that information on their state can be easily seen, and statistics on the performance of one or more process can be provided.
Project Overview Inventory management system is a system that will replace a manual system in an organization (in this project, will focus on pharmacy) to manage their inventory adjustment and movement record. The purpose of inventory system is to help user keep track of their inventory. Besides, it can help user manage to make right decision in both when to order and how to maintain the delicate balance between carrying too much and too little stock. Carrying too much stock results in high inventory operating cost and carrying too little may cause stock-outs and high order-cost. The objective of an inventory management system is to make inventory decisions that minimize the total cost of inventory, which is distinctly different from minimizing inventory. It is often more expensive to run out of an item than simply to keep more units in stock.
Statement of the Problem • Keep Track of the Important records to prevent the slow and outdated inventory monitoring • A Security Identification that will identify only the authorized personnel to use the system and avoid other people from accessing the system. • A large database that allows you to store multiple data and information to lessen paper works and avoid the loss of data of their products. It can also prevent human errors concerning data storing and tracking. • A message box that will automatically prompt to inform the user if they are running out of stock or if there are products about to expire in order to secure the products they sell.
General Problem • Inadequate Store Preparation • Lack of Early Audit Verification • No Error Resolution during the Inventory Process • Not Controlling Your Inventory Environment • Incorrect use of Multiple Quantity Keys
Objectives of the Project The main objectives of the study is to evaluate the current pharmacy inventory control system of East Avenue Medical Center and come up with an enhanced inventory control system for the clinic’s pharmacy for a better inventory management and eliminate/reduce risks of errors and fraud. It will seek to give an enhancement and design the pharmacy could adopt for a more effective and efficient inventory system.
General Objectives • By and large, this is the most common mistake of all inventories, no matter the retailer. • Make sure that you have a process in place to check your counters at least an hour into the inventory process to review for errors, questions, or issues that might affect your count. • Errors, whether they're sourced to the counter, the product, or the methodology of the count, must be resolved prior to final submission of the inventory, even if they seem insignificant.
While most of us would prefer to conduct an inventory while the store is actually closed, it doesn't always happen that way. • While this point seems minute, it actually causes quite a few costly errors during the inventory process.
Significance and Scope of the Project The study intends to evaluate the current pharmacy inventory control system of East Avenue Medical Center. It will focus primarily on the pharmacy inventory and not on the inventory of the organization as a whole. It will cover medicines and laboratory supplies maintained by the pharmacy and will not involve inventory of equipments and other supplies maintained by the other departments of the organization.
