Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
This project work deal with the design of Automated inventory management system in pharmaceutical stores. It is an important part of an organization. The conventional manual system of inventory analysis has resulted in some problem creating room for errors. The inventory control system enables firm or organization to strike balance on the various costs so as to minimize the cost hence maximum. Profit it is also concerned with policies directed at achieving these objectives. It therefore becomes
Typology: Study Guides, Projects, Research
1 / 51
This page cannot be seen from the preview
Don't miss anything!
(A Case Study of Jimoh-Yusuf Pharmaceutical Store, Auchi)
(A Case Study of Jimoh-Yusuf Pharmaceutical Store, Auchi)
This project work is dedicated to God Almighty and to lovely parents Mr. and Mrs. Garuba for their support and encouragement.
My profound gratitude goes to God Almighty for his love and mercies over my life and throughout my stay in Auchi Polytechnic. He has been my source of inspiration and my hope for tomorrow. However, I remain grateful to my project supervisor; Mr. Momoh Taofik G. for his time, patience, cooperativeness, constructive and objective contributions which made this project work a successful one. It is highly necessary to acknowledge my source in this world, my parents Mr. and Mrs. Garuba Francis for their support and prayers My appreciation also goes to Dr. and Mrs. V.A Umoru for their patience, support and advice. I also want to thank my lovely brothers and sisters; Garuba ThankGod, Garuba Philip, Garuba Courage , Sister Victoria and Abel Victory. for their love and support and encouragement. And to my friends Elliot , Godwin Johnbull , and Ayo , I say a very big thank you to you all for your love and support. I specially appreciate my beloved and my heart desire is no other person than Muhammed Khadijah for her support, outstanding cooperation and unshakable understanding, for giving me his full support to make my schooling a success. Lastly I specially appreciate my beloved sisters from another mother; Momodu Bilkisu and Umaru Bilkisu for their love and support and encouragement. It is my sincere hope and fervent prayer that Almighty God will bless and protect you all continuously (Amen).
CHAPTER FIVE: SUMMARY, CONCLUSION AND
This pharmaceutical store as a small-scale business is to meet the need of those seeking drugs prescribed by medical doctors to save the cost of traveling out of Auchi. It is situated at No. 15, Otaru Road, off First Bank Plc, Auchi. This pharmaceutical store initially operates a manual system of drug dispersing and inventory keeping, which was done by the workers, comprising the; store keeper, the sales personnel and the cashier. JIMOH YUSUF PHARMACEUTICAL STORE operates now an automated inventory analysis system. This project work covers all that has to do with automated inventory analysis of JIMOH YUSUF PHARMACEUTICAL STORE AUCHI. The term “Inventory Analysis” is a detailed examination of a complete list of goods in any organization. This project work will aid in guiding and rendering the appropriate steps to achieve success in Jimoh Yusuf Pharmaceutical Store. It bothers on the information and manipulation of the continuous assessment on inventory analysis and to generate terminal reports. 1.1 STATEMENT OF THE PROBLEM This project is particularly important because of the problem usually encountered in the traditional or manual system. Adams. A And Abert G. (1986) Inventory Control. Jimoh Yusuf Pharmaceutical store whose inventory analysis is not automated are facing some problems and these problems are mainly caused by lack of use of computers. The following are some of the problems faced:
a. Inaccurate keeping of record of stock b. Inability to recognize all the goods in the store c. Delay in response to customers d. Inaccurate balancing of saves profit, credit for the day e. Poor information storage system f. Long processing time g. Fatigue h. Mismanagement i. Fraud j. Repetitive task 1.2 PURPOSE OF THE STUDY This study aim to reduce the error in compilation/record and delay in the computation and generation of inventory analysis record since they will only have to input the raw list of item in stock/store into the computer for computation and report generation which will save time, and allow planning ahead for the growth of the organization. 1.3 SIGNIFICANCE OF THE STUDY This project work in Jimoh Yusuf Pharmaceutical store have the ability to access and organize data in a quick and efficient manner with an automated inventory system, business can rely on computer to do tasks which were once performed manually, such as inventory checks and product sales. 1.4 SCOPE OF THE STUDY The study covers the activities of inventory store analysis of Jimoh Yusuf Pharmaceutical store, Auchi. It deals with how stock is control so that they do not run out of stock or keep excess stocks that will lead to obsolesce and damage. This seeks to investigate Jimoh Yusuf Pharmaceutical store
h. Telnet: It allows one data remote location, use remote puter attached to an internet, as if one is there. i. Web page: This refers to a single page of website. j. ISP: internet service provider is a commercial company that provides a communication to the Internet for both individual and companies. k. Search Engine: This is a program that uses computer caNed spider to ransack the web for information, when found the information is indexed in a giant database.
Inventory is stated in the Encydopedia Britannia as a term used to designate items of property, held in stock by a business firm. It includes held items for sale in the ordinary course of business, items that are in the process of producing goods and services to be available for sale (Brown, 1969). (Robert & Walter, 1979) expand the definition of inventory in three ways to fit manufacturing companies as “The aggregate of items of tangible personal property” which are: a. Held for sale in ordinary course of business b. In process of production for sale c. To be currently consumed in the production of goods and services to be available for sale. (Adam &Abert, 1986) defined inventory control as a systematic method of recording the movements of materials throughout a company from raw materials in the stock room through the manufacturing process to finishes product ready for the market process to furnishers product ready from the market inventory control can also be seen as the system used in commercial set up to control the firm’s investments in stock. Excellent inventory control depend on the ability to effectively control purchasing so that any time the size of inventory held is not more than the required to financial accounting and principle of production control (Batly, 1970) defines inventory as the method which used planned procedure and specially designed form, to show at any time, the stock on hand both as quantity are values, for each item of material and each part. If a store’s control account is
Since there are imperfection in human nature, there should be no hard degree of accuracy where the old system is been used. She also introduced a perfect working programming language. This was owing to the facts. That, in her study Dbase can always be used to channel data from one department to another and can handle large volume of data from hence; the need for automation has to be effected in determining the inventory level. It will be made known that too little, a too much inventories involves a greater cost. To arrive at a minimum cost, a level of well-automated system was kept. Inventory Management is an enterprise-wide discipline concerned with the identification and tracking of Information Services (IS) hardware and software assets. Its three main areas of concern are: Acquisition. Redeployment. Termination. Acquisition procedures are established to assist personnel in procurement of software and hardware products. Its main purpose is to ensure that proper justifications are performed and that financial guidelines are followed. Redeployment procedures are responsible for ensuring that assets are tracked when moved from one location to another and that budgetary considerations are adjusted as needed. Should a product be moved in conjunction with its original owner then the Inventory System is updated to reflect the new location. Should a product location and owner change, then the Inventory System must be updated to reflect the new owner and their location. In this case, the old product is deleted from the original owner's budget and added to the new owner's budget. Termination is responsible for deleting the asset from the inventory when it is discontinued, or replaced. The owner's budget will be updated to reflect
the asset termination and the asset will no longer be listed when location reports are generated. 2.1 INVENTORY CONTROL SYSTEM According to Adam Smith, the author of the book “Wealth of Nation” and the author Paul Samuelson the following analysis can be deduce from the theories they stated thus: The inventory control system enables firm organization to strike balance on the various cost so a to minimize the cost hence maximum profit. It is also concerned with policies directed at achieving these objectives and it is also involves the planning and utilization to be effective in an organization, as inventory control management must address the following: a. An arrangement for section and disposal of obsolete goods. b. Storage facilities with adequate space and environmental condition c. Proper record keeping d. Knowledge of store keeper and assistance/clerk According to (Bruce, 1928) states the following advantages of an inventory control system as follows: a. It eliminate unnecessary economical investment b. It reduces frequent physical control of stock items c. It provides management with ideal framework for cost analysis d. It gives assurance that the goods produced are in good condition that can meet specification. Inventory may be accumulation of: a. Raw materials b. Finished goods
business operations. Standards and Procedures Manual Like all databases, the Inventory System will only be effective if its information is kept current. To ensure the accuracy of the Inventory System, while not adding too great a burden to company personnel, every effort must be taken to implement processes that maintain inventory data with a minimum work effort from personnel. Inventory Management provides: Up-to-date information about data processing resources through the creation and archiving of records in a centralized repository. Financial records specific to a single component, or groups of components. Service records for all components in the inventory. Data used to support configuration diagrams of the hardware and software components contained within specific locations, or the entire data processing environment. The Need for Inventory System an Inventory System is to provide a Central Asset Repository of information used to define assets and relate the asset to its owner, location, and relative importance. This information will provide personnel with data needed to support their job functions, for example: Facilities Management: Will be able to plan Heating, Ventilation and Air Conditioning (HVAC) requirements, as well as power and floor space needed to support equipment listed in the Asset Repository for a specific location. Financial Services: Will be able to budget for asset procurement, depreciate assets over time, and prepare complete tax documents. Contracts Management: Will be able to negotiate vendor discounts and enterprise agreements.
Contingency Planning: Personnel will be able to develop recovery plans for mainframe and office assets contained within the Inventory System based on the assets relative importance (as stated within the Criticality field). Technical: Personnel will be able to resolve problems more quickly with the information contained within the Inventory System, because they will have a listing of the assets contained within a location and any support or maintenance activities associated on the asset. The Inventory System should be integrated within the everyday functions performed by personnel associated with entering and maintaining asset information. The system will reduce the effort devoted to asset management, while supplying many personnel with the information they need to perform their functional responsibilities. Every effort should be made to develop a central Asset Repository that covers the entire enterprise, rather than having separate Asset Repositories for mainframe, network, and distributed environments. Having a single repository will simplify accounting and asset management, while allowing for the implementation of enterprise-wide asset management standards and procedures. 2.3 THE NEED FOR AUTOMATION According to (Daniel, 1987) says that the automation helps with the use of a machine to do a perform work easily and accurately, i.e. the automation of some of the operation the store/supermarket, pharmaceutical store department etc would save great deal of time. Automation has many advantage such as security and safety of information, accuracy and timeless of periodic inventory reports. The following are some of the need for the automation of an inventory control system of a pharmaceutical store.
