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Balaji Project

This document outlines the objectives and scope of an inventory management system project. The primary objectives are to complete a bachelor's degree and learn .NET technology. The secondary objectives are to develop an application to easily manage inventory details like sales, purchases, and stock balances to provide a competitive advantage and stock information. The scope of the inventory system covers valuing, measuring changes in, and planning inventory levels. The system is targeted at small to medium organizations with a single person responsible for records. Limitations include not knowing exact counts between periods for periodic systems and human errors for perpetual systems.

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36 views4 pages

Balaji Project

This document outlines the objectives and scope of an inventory management system project. The primary objectives are to complete a bachelor's degree and learn .NET technology. The secondary objectives are to develop an application to easily manage inventory details like sales, purchases, and stock balances to provide a competitive advantage and stock information. The scope of the inventory system covers valuing, measuring changes in, and planning inventory levels. The system is targeted at small to medium organizations with a single person responsible for records. Limitations include not knowing exact counts between periods for periodic systems and human errors for perpetual systems.

Uploaded by

RanG
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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OBJECTIVES

PRIMARY OBJECTIVES
 To fulfil the requirement for achieving the bachelor’s degree of Computer
Information System.
 To know the fundamentals of the Net Technology and Visual Studio with
the Net Framework.

SECONDARY OBJECTIVES

 To develop an application that deals with the day-to-day requirement of


any production organization
 
 To develop the easy management of the inventory
 
 To handle the inventory details like sales details, purchase details and
balance stock details.

 
 To provide competitive advantage to the organization.
 
 To provide details information about the stock balance.
 
 To make the stock manageable and simplify the use of inventory in the
organization.
SCOPE OF THE STUDY

The scope of an inventory system can cover many needs, including


valuing the inventory, measuring the change in inventory, and planning
for future inventory levels. The value of the inventory at the end of
each period provides a basis for financial reporting on the balance
sheet. Measuring the change in inventory allows the company to
determine the cost of inventory sold during the period. This allows the
company to plan for future inventory needs.

Inventory Management System (IMS) is targeted to the small or


medium organization Which doesn’t have many gods whom or
warehouses i.e., only to those organization that has single power of
authority.

 Only one person is responsible in assigning the details or


record.

 It is security driven.

 God own can be added as per the requirement.


LIMITATION OF THE STUDY

 The limitations of the periodic system include not knowing an


exact inventory count in the middle of the period and running the
risk of stockouts.

 With the periodic system, the company knows the inventory level
with certainty only when it physically counts the inventory at the
end of each period.

 The company takes customer orders without knowing the exact


inventory count or whether enough products are available to meet
customer demand.

 The limitations of a perpetual inventory system include a false


sense of reliability and dependence on human entry.

 Although a perpetual system updates each time a transaction


enters the system, it might lack information regarding stolen,
damaged, or scrapped units.

 The company remains unaware of the theft or waste, known as


shrinkage, until it performs a physical count at least once per
year.

 The other limitation is that an employee might enter data


incorrectly, introducing inaccurate information that can
compromise decision- making.
LITERATURE REVIEWE

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