An Inventory System supports updating inventory information for all items, monitoring inventory depletion, and importing and exporting inventory information to and from external systems of record. Many companies are using inventory systems for their success and growth. Inventory systems have a variety functions purposes in business promoting the sales and shrinkage control are two main functions of inventory systems. In its simplest sense, it can be done manually by a count at the end of each day. In this way, it is possible to keep a record for the good of the business.
For larger business it is more likely that a computerized system will be required. Transaction processing systems are commonly used to operate business. In this era, manual transactions evolved into computerized ones. Manual inventory systems turned out to be slow and inaccurate resulted to problems like running out of stocks and slow computation of products. Today, businesses use the computer to assist in controlling and monitoring many aspects of the business. Since manual approach in data processing could no longer meet the demands increasing volume of transactions.
Locally, in our life today, computer is one of the many inventions that greatly affected our way of living. In fact, it is regarded as an essential tool in many areas including business, industries, sciences, education, school, home, and in almost any organization and establishment that exist. It can perform operation and process data rapidly, accurately and reliably and by using these machines, spending a lot of time and effort in doing certain task is minimized. Many schools and universities are using computers to aid their manual tiring problems of securing files and to make their tasks quicker and easier.
Globally, computer technology is one of the main reasons why almost everything become so simple and easy from difficulty and complicated way of accomplishing each job almost everything now is being operated and manage through computers. The significant increase or decrease the number of items and equipments in the particular establishment, has created not only job opportunities for the management and employees, but also resulted to the different problems stemmed from this trend. To resolve this problem, the management of the university has implemented numerous changes.
These changes involves adopting and acquiring new technologies such as the computerization of the different transactions particularly the newly implemented inventory process. Changes in technology bring significance and advancement in our lives from an industrial society, the researcher is in transition to an information society. The process of deriving in this transition and advancement of man are the computer and the people who strive to work for these changes. This advancement of computer had been a great factor in our daily living.
It makes every task as easy as possible and nothing seems too tiring if human tasks are aided with technology. The Inventory System is the process of which to keep track of what you have in your small store, large office or product development factory, it informs you when you need to purchase more products or supplies without spending too much time and effort. The Inventory System aims to be more reliable and user friendly to the management and to the employee as well. It will get rids if the usual manual practice, which is difficult and mistaken.