Inventory Management and Information System

This project is aimed at developing a web based application named Inventory Management System for managing the inventory system of  HIT. The Inventory Management System (IMS) refers to the system and processes to manage the stock of organization . This system can be used to store the details of

Project Title

Inventory Management and Information System

Project Area of Specialization

Software Engineering

Project Summary

This project is aimed at developing a web based application named Inventory Management System for managing the inventory system of  HIT. The Inventory Management System (IMS) refers to the system and processes to manage the stock of organization . This system can be used to store the details of the inventory, stock maintenance, update the inventory based on the sales details, generate sales and inventory report daily or weekly based. This project is categorize individual aspects for the sales and inventory management system. Without proper inventory control, a large retail store may run out of stock on an important item. A good inventory management system will alert the wholesaler when it is time to record. Inventory Management System is also on important means of automatically tracking large shipment. An automated Inventory management System helps to minimize the errors while recording the stock.

Project Objectives

Objectives

Our main objectives are:

• To develop an application that deals with the day to day requirement of production .

• To avoid both overstocking and understocking .
• To handle the inventory details like sales details, purchase details.
• To provide details information about the stock.

To ensure right quality goods at reasonable price

A web based application is being proposed to manage the inventory tasks of HIT in real world scenario in order to overcome all the difficulties they face in manual management system.

After analyzing many existing IMS we have now the obvious vision of the project to be developed. Before we started to build the application we had many challenges.We defined our problem statement as:

• To make web based application of IMS for small organization.
• To make the system easily managed and can be secured.
• To cover all the areas of IMS like purchase details, sales details and stockmanagement

Project Implementation Method

Project Implemetation and Methodology

•  Data Collection
         In this part of implementation we aill acwuire and gather data required for our project.

•  Analysis and Design
         In this section we will analyze available methods and designs to implement our proposed design.

•  Development and Implementation
         in this section we will develop strategies to implemet our design selected from above section
 

Benefits of the Project

A successful Inventory management operation is hard work, but there are systems out there to help remove a lot of the stress from the process. With these inventory management platforms, small businesses can stay competitive, and larger companies can more easily deal with complex daily operations.

Reduced Costs Across the Board

With improved order and inventory accuracy, you have fewer errors, which means fewer resources spent on fixing them. Fewer errors also translate to less being spent on damage control.

Organizing your inventory also reduces the money you spend storing unnecessary items. The system will identify the proper quantities of certain products so inventory managers can rest easy knowing the important things are set to renew as needed automatically. This allows for a wider variety of products and cuts back on the amount of money you spend holding onto inventory.

Inventory Accuracy and Efficiency

Many retailers, inventory is only accurate about 63% of the time. Once you understand how damaging an inaccurate order can be, this number is much lower than it seems. One of the most significant benefits of inventory tracking is that it reduces the amount of inventory companies has to keep on hand while improving order accuracy.

Decreasing held inventory allows companies to save massive amounts of money and effort. Companies that use a modern Inventory management system can actually close one or more Warehouse locations and save money associated with those cost centers.

Improved Data Visibility and Planning

• Where is inventory going and what customers are being served?
• Who are our biggest customers? What are the most popular products?
• How can agile inventory improve these processes even more?
• What does customer demand tell us about our customers? How can we apply that information to marketing operations?

Prevent Too Much or Too Little Stock
Inventory managers have to deal with keeping stock at the proper levels every day. If stock levels aren’t regularly checked, that can lead to either too much or too little inventory. Either situation is unfortunate because not ordering enough of a popular item can cause a stockout, which leads to missed sales and upset customers. Too much product makes it hard to move and takes up valuable warehouse space that could be used for other products.

Better Customer Service

Save Time With Automation

Manage and Coordinating Multiple Locations

Technical Details of Final Deliverable

Our final Deliverable will be:

1. Inventory Management and Information System
   we will be dealing whole details of inventory and its information in this system to keep the things of industries upto Mark.
2. Project Report and System Manual
   it will include the step by step method of implementation as well as manual to easily use the system.

Final Deliverable of the Project

Software System

Core Industry

IT

Other Industries

Core Technology

Internet of Things (IoT)

Other Technologies

Sustainable Development Goals

Decent Work and Economic Growth, Industry, Innovation and Infrastructure

Required Resources

If you need this project, please contact me on contact@adikhanofficial.com