Achievers Project Materials 08058580848 and 08140350866: COMPUTERISED INVENTORY CONTROL SYSTEM OF A PHARMACEUTICAL RETAIL SHOP (a case study of NAFDAC)

ABSTRACT

The aim of this project is to computerize the inventory system taking into consideration their stock, sales and purchases in view of achieving the followings: To know when to make purchases of items, to be able to ascertain the exact number of each stock that is available. To ascertain the stock that is mostly sold. This will go a long way in eliminating mismanagement and maintaining a higher degree of accuracy and more reliability in the business transactions. The software developed was implemented using Visual Basic 6.0.

CHAPTER ONE

INTRODUCTION

For years, business processes were faced with much work to be carried out. Much error is committed in manual record keeping, leading to erroneous decision making by the management.
In view of this system and the function of inventory and sales management, holding, controlling Sales and purchases of stocks have become a very vital part of the retail business survival. Invariably, how well the stock recording is, determined how efficient the inventory control and the Sales information system performance. More so, information system tends to provide all the necessary transaction processing for an organization, as well as information and processing support for management and decision functions. Organizations have always required systems for collecting, processing, storing, retrieving, and distributing information. The computer has added a new technology to information system so that computer based information system supercedes manual and Electromechanical processing systems.
In the past few decades, technological advancement in information Technology (IT) has generally changed the nature, standard of information systems, which have presented challenges to industries, organizations and firms to change toward the direction of the new trend.
The challenges posed by information system has made it impossible for organizations to grow in the face of this challenges and the new order of information system, which shows down information dissemination, Data collection and processing, as well as information retrieval.
Based on this understanding, this project work was developed in order to computerized inventory control to provide information to support the organization, management and decision making functions in an organization.

1.1     Problem Statement
The problem and inadequacies inherent in the manual inventory and sales control system in business transactions, where many items are involved, the manual recording system becomes tedious and big to handle. Error inherent in manual calculation and balancing of stocks leads to excessive cost operation and hence may lead to wrong decision taken by the managers of a business firm.

1.2     Aims / Objectives of the Study
The main objective is to computerized the inventory control system of a pharmaceutical retail shop taking NAFDAC as a case study. This will help the manager know when to make purchases of items, ascertain the exact number of each items or stock available, to ascertain the stock that are either mostly or sparsely sold as well as knowing the exact number of each stock or items that are lacking thereby helping to improve workflow in the organization. Moreover to reduce time wasted in data processing and information retrieval. And finally to improve management activities, which will lead to improved productivity, accountability and business management of the organization.

1.3     Purpose of the Study
This purpose of this study is to design a computerized inventory system for a pharmaceutical retail shop. This will help in monitoring their stock.

1.4     Significance of the Study
In view of the rapid development of computer technology in virtually all fields of operation and its use in relation to information management, it has become important to look into the development of a computerized inventory control system to meet up with demands of the present day society. In this case, inventory system is a vital and very important function part of every business or organization since it provides services to every other function unit.
The process of making any decision is based upon a combination of factors, skill, judgment and information. The ability to refer to up to date information or data via the inventory control system will greatly improve the quality of the management information employed. Therefore, the quality of the decision made will be far greater in terms of accuracy, utility and cost. The development of a computer based Sales / inventory control system will instantly deck stock records to establish that sufficiently stocks held to cover the user requirement.
The stock processing or recording helps so that management can obtain data regarding the stocks at any time. The development of a computerized stock inventory will also provide part services to customers by reducing queuing.
On the order hand, the manner and rate at which stocks are recorded and retrieved are getting disgusted and bored, due to tremendous changes in information technology. From time to time, and information on stocks are requested by the management of the retail business for one reason or the other. The preparation and submission of these reports take longer time than necessary to prepare, and are sometimes inaccurate.
The project is aimed at designing, a new better alternative system to help the organization to: -
(a)     Produce available operational reports when needed.
(b)     Safeguard data and information in the system.
(c)      Reduced workload in the present system.
(d)     Keep accurate record on stock card
(e)      Reduce time wasted in data processing.

1.5     Scope / Delimitation
This project work is designed to cover all aspect of sales, purchases, and stock keeping a pharmaceutical retail shop. A case study of NAFDAC
The system incorporates the items stock recording, stock taking and recording. Recording system monitors current store level and determines whether new items must be ordered. This system keeps statistics of each item usage to determine the quantity to be ordered.

1.6     Constraints / Limitations
During the process of this research work some drawbacks were encountered while trying to get adequate needed data and information.
They include the reluctance of the management of the firm under study to release vital information, which they feared would jeopardize the security of the organization. And secondly, time and financial constraints which had great influence to this work.

1.7     Definition of Terms
Receipt: Receipt is the process of accepting from sources, all materials or items used in the organization.

Issue: This is the process of giving out items from store to various departments in the organization.

BIN CARD: is the different coloured cards used for updating stocks.
Computer Program: This is a set of instruction that guides the computer on the action to perform.

Flowchart: This is graphical representation of step by step by which computer can follow to execute a task.

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Achievers Project Materials 08058580848 and 08140350866

Tuesday, 24 January 2017

COMPUTERISED INVENTORY CONTROL SYSTEM OF A PHARMACEUTICAL RETAIL SHOP (a case study of NAFDAC)

ABSTRACT

INTRODUCTION

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