INVENTORY MANAGEMENT SYSTEM

TAN CHEN WEI (54005)NG YU BENE (52843)TEOW JIAR LI (55097)FONG WENG JENG (51808)LIM POH SIM (52324)

CURRENT SCENARIOWhen a business requires maintaining stocks, it feels like walking a tightrope. When a business does not have enough inventory means that it is running the risk of losing sales and target customers, while having too much inventory is costly.

O Understock• Stock outs not only missed sales, but also lose

customers for good.O Overstock

• The longer period of an item stays unsold in inventory, the greater the chance it will never sell out at all. Products will be deteriorate, obsolete, spoil, damaged or stolen.

O Waste Time• Do it by hand or Excel is time-consuming.

Existing SolutionO A manual inventory control system determines the buying

cycle for each item.• determine the amount of each item typically used during each

buying cycle.

O A good approach transferring inventory can controlling supplies on hand and simplifying ordering is to develop a descriptive index.• This is an alphabetical listing of the practice's supplies, which also

serves as a cross-index of inventory control cards

O A manual billing process, which is use to bill tenants for one-time charges.• Such as, improvements, supplies, postage, promotions, and

repairs specific to a given tenant.

Proposed solutionNetiquette Inventory Management

System(IMS)

O can be tracking inventory in real time across different locations with network easy managing inventory across

different locations quantity, type, colour, size of all the

product

O can processing, organizing data and analyzing current inventory situation with automatic real-time data on inventory conditions and levels check current inventory numbers to more

accurate fulfillment and fewer the overstockO automatically collect data, conduct calculations

and create records, efficient more efficient and save time depends to the

normal stored in hard-copy form eliminating manual bottlenecks and errors

Process of activities for completing this project

O Step 1: Problem IdentificationMost of the business is facing the problem in inventory management

O Step 2: BrainstormingGroup members have propose a lot of suggestion and opinion

O Step 3: Information GatheringDo research for all the alternatives and gather all the information to choose the best alternatives

O Step 4: Proposed SolutionThe best solution for this problem is using inventory management software - Netiquette Inventory Management

JUSTIFICATION OF ICT TOOLS WE USED

O GOOGLE CHROME -used to surf the web to get info about the Inventory Management System (IMS) to complete our project.O YouTube -search for the videos about the Inventory Management System (IMS). https://www.youtube.com/watch?v=Xql0eRjA9AQO Netiqutte Inventory Management System https://ims.netiquette.asia/

CONCLUSIONO Inventory Management System can

help to manage inventory well during business operation.

O Overcome some business problems, like overstock.

O ICT tools like Google Chrome very important in help us to get the info about the system and its function to finish this project.

Thank You!