Inventory Management System For Small Business

1010 words - 5 pages

Inventory Management System for small business
Jim Shrestha
Washington Adventist University, Takoma Park, Silver Spring, MD
In this paper, I tried to illustrate the importance of inventory management system for small business. The term small business denotes to all those business which is family or person owned and donot have maximum revenue. This paper explains the idea, how to set up new inventory management system with minimal budget. As my paper focuses more on small business, I explain very common and effortless way of setting up new inventory management system. Most of the informations are extracted from different inventory management supplier’s official ...view middle of the document...

Because it has an ability to track sales and available inventory, communicate with suppliers and receive and incorporate other data like seasonal demand. Simply it will tell the store owner when it’s time to reorder the products and how much to purchase.
It definatly helps to minimizes the costs by maximizing the profit through well organisation of all the inventories and sales.

Managing Inventory Processing Orders

1.0 Planning
Before starting the system, we have to plan for the system. As it is one time cost, we need to be extra careful so that we can develop this project with great success. Belows are some of the planning we should be doing before setting up this system.
• Organise the product being inventoried with inventory technician.
• Design storage shelves to provide a clear line of site to each item.
• Create an inventory spreadsheet.
• Educate everyone in the bussiness about the new system being launch.
• Planning of the required budget for the new system.

2.0 Equipments needed
2.1 Hardwares-

• Scanners -Scanner selection is based upon the need to scan 1D or 2D barcodes. The mobility and ergonomics of the scanner should be considered as well as the need to integrate scanning into other tools such as a weigh scale.

• Mobile computers - They can scan 1D and 2D barcodes, including the increasingly popular QR code. They leverage local Wi-Fi networks and carrier-based services for external communication.

• Thermal label printers - In some barcode environments, printers are needed for custom labels or tags.

• Computers – They are the intergral part of this system. Usually everything is electronically organised. So computers are used to view the sales, inventories, profits, vendors and their products.

2.2 Softwares

Some of the most popular and cost effective softwares for small businesses are

• Primesoft organizer pro V3

• Fish bowl

• Free style commerce

2.3 Other requirements

• Wired Lan and Wireless network

• Cable

3.0 Cost of the system

In the market, both required hardware and software can be purchase as a bundle which is way too cheaper than the individual items. Following are some of the popular bundle with the least...

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