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Inventory Management System

This is a project I have try first time hope this help other for better knowledge

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krishnabanjara2003
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16 views

Inventory Management System

This is a project I have try first time hope this help other for better knowledge

Uploaded by

krishnabanjara2003
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 13

Inventory Management

System
.
Definition of Inventory
Inventory refers to the complete list and records of all the goods, materials, and
supplies held by a business or organization. It includes all the items that are
available for sale, used in production, or kept for operational purposes. The
inventory is typically valued at its cost price and is an important aspect of
managing and controlling a company's assets and operations.
Inventory Management System
Inventory management system refers to the software and processes used by a
company to track, manage, and organize its inventory of goods. This system helps
businesses keep track of their stock levels, sales, purchase orders, and supply chain
activities in order to optimize their inventory levels and ensure efficient operations. It
also assists with forecasting demand, reducing carrying costs, preventing stockouts or
overstocking, and ultimately improving customer satisfaction.
Problem Statement
The problem statement for an inventory management system includes the need to
efficiently handle the process of selecting items for inventory. This involves accurately
identifying items, as well as managing their storage and movement . The selection
process must be streamlined to ensure that the right items are chosen and stocked in
a timely manner, while minimizing errors and unnecessary costs. The system should
also provide tools for analyzing demand patterns, forecasting future needs, and
optimizing stock levels to meet customer demand.
Objectives
The objectives of inventory management system may be a formatting error or a
placeholder for a specific term. However, the general objectives of an inventory
management system include minimizing stockouts and overstocking, reducing holding
costs, improving order fulfillment. The system aims to provide accurate and up-to-
date information about stock levels, facilitate timely reordering of items, and cost
savings and improved customer satisfaction.
Literature Review
An inventory Management system is essential for efficiently, tracking and managing
goods across various industries. It helps to optimize the levels, reduce the costs and
decision making through challenges like high implementation costs.
Methodology
The term methodology of inventory management system refers to the process of
selecting the appropriate items or products to be included in the inventory. This
selection process involves analyzing factors such as demand forecasting, lead time,
supplier reliability, and economic order quantity. By carefully considering these
factors, businesses can ensure that their inventory includes the right mix of products
to meet customer demand while minimizing carrying costs and stockouts. The
selection process is crucial for maintaining an efficient and cost-effective inventory
management system.
Study of Existing System
Existing inventory systems range from manual spreadsheets and paper records to
basic and advanced software. Basic software may not have all needed features or
handle growth well and advanced system can be expensive and complicated.
Requirement Collection
i. User Requirement: Collection detailed needs from end-users regarding
functionality and usability.
ii. Admin Requirement: It include managing user accounts and permissions,
overseeing inventory control by adding, updating and tracking products.
Feasibility Study
1.Technical Feasibility
a. Technology Requirement: The project will use HTML, CSS, JavaScript, PHP, and
MYSQL tools to develop a system.
b. System Integration: It will integrate with any existing systems.
c. Technical skills: If you have or can acquire the necessary skills to use these

Technologies.
2. Operational Feasibility
a. User Requirements: Gather and analyze requirements from potential users to ensure the system.
b. Implementation Plan: How the system will be deployed and integrated into existing process.

3. Economic Feasibility
a. Cost Analysis: Estimate cost for developed the system.
Flow Chart
.
Start

User Login

Main Display Error


Menu Message

Manage Inventory
Generate Reports

Exit

Stop
Working Mechanism of the proposed System
The system is divided into three major components:
i. Front-End Design: The system will have a user-friendly interface built using
HTML, CSS, JavaScript.
ii. Back-End Design: The inventory management system back-end built using
PHP or another language.
iii. Database Design: The system uses MYSQL to store data such as product
name, stock levels, costs and sales record.
Gantt Chart
Start 1-2 3-5 6-8 9-10 11-12 Status
Date week week week week week
Planning 28-Aug Active
Frontend 10-Sep Upcoming
Development
Backend 21-Sep Upcoming
Development
Testing 6-Nov Upcoming
Delivery 26-Nov Upcoming
Expected Outcomes
It include improved accuracy in tracking inventory, reduced stockouts,
better forecasting and planning, increased efficiency in managing stock,
and ultimately cost savings for the organization. These expected outcomes
help guide the development and implementation of an effective inventory
management system.

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