ELECTRONIC STOCK CONTROL

Electronic Stock Control System

Electronic Stock Control System

Introduction

The main purpose of this paper is to make a case analysis of leading children charity. The main problem of this charity was space problem for keeping the stock. Therefore, the main purpose of this paper is to show the benefits of implementing electronic sell system, and make an analysis of cost-benefit analysis of electronic stock control system.

Case Analysis

This study is about a leading children charity, selling the different items with a limited number of shops. The items are considered to be scrapped if they are not sufficient to sell. Normally, shops do not transfer material to each other, in case one shop has additional products and other shops have limited material, only then they transfer material (Abdel-Khalik, 2005, p. 447). The main customers of shops are below average wage earning families and old age pensioners. The shops were facing cost problem because they have to save the material in their shops. The space was consuming much cost; therefore, the charity is planning to save the cost by starting e-commerce. Charity is planning to sell there products online by introducing the electronic stock control system.

Discussion

Now a day, different companies are going for electronic stock control system. This system helps companies in managing their stock properly through this system. Electronic stock control systems have the same principles which the manual system follows, but the main difference is that they have more flexibility and is very convenient that managers can easily retrieve information from it. Through this system, you can very easily monitor the stock system and identify that how well the stock system is working. The electronic stock control system is a very beneficial option for businesses who manages different kinds of stocks. There are some important features of it like;

The stock and pricing data better integrates with the invoice and accounting system. There is only one set of data in which all systems have to input their appropriate data. The stock balances and statistics automatically enhance and integrate the processed orders through sales order processing and purchase order processing.

The stock is automatically monitored and triggered when the re-order level is needed.

In case the goods are produced in batches, then it automatically controls the batches.

It identifies the cheapest and fastest suppliers very efficiently.

In order to increasing the speed of processing and recording, they use the Bar coding systems. This software easily prints the bar codes. In order to manage the individual products, or components to be monitored by using the supply chain by using Radio Frequency Identification (RFID). This system is very helpful in data monitoring and gives the exact figures.

Many managers in companies prefer the electronic stock control system because it helps in killing the test scheduling problems, defect reporting and costs of testing (Ahadiat, 2006, p. 29). There are many positive impacts of electronic stock control system in different areas, and it has different success stories and assures that the implementation of electronic stock control system is very helpful and ...