Inventory Management Systems
Prof. Kurt Brandquist
In a changing and growing market, many businesses are turning toward automated systems to perform not just inventory, but many tasks that are in their everyday routine. Automated systems can replace the cost and time consuming processes that were once completed by hand while providing companies with more accurate data. This system is used to track the merchandise and goods of retail stores, grocery stores, hardware stores, etc. In this paper I will discuss the background of automated inventory systems, including what they are, how they work and what type of data and what goes into the implementation of ...view middle of the document...
This process allows data to be more accurate than the previous process because the business knows exactly how much inventory they have in stock at any given time. If the inventory becomes low, the business is notified by the system to order more inventories.
Now that we know how an Automated Inventory system works, let’s take a look at the cost and maintenance of such a system. Given that the provided scenario/business we have is small, we can take a look at more cost-effective solutions that can still provide an effective system in a retail environment and yet, not break the bank in doing so. For logistical purposes, I will break down the price by each piece of necessary inventory. Firstly, we need the bar code scanner. In today’s market, there are a wide variety of different brands and models of bar code scanners which make it easy to find the right one that fits your budget. Three of the top selling bar code scanners are the Honeywell Xenon 1902h (for approx., $860), Symbol LS2208 (for approx. $120), and the Unitech AS10 (for approx. $50). Given that we are looking at cutting costs for this type of a system and also given the low volume the system will be dealing with, it would be prudent to choose the third option as the better fit. Keep in mind that you could purchase two of these scanners for a price that is less than the total price of the two previous options. Along the same lines, there are other methods to scanning, such as mobile computers. However, these tend to be on the high end in terms of price and so this would not be the prudent route for a small retail business.
Next up is the software to store and process the inventory for your automated system in various ways. As a general statement, this is where your money will be spent most on. Regardless of what you are trying to accomplish, you will need to make sure that the software has the necessary requirements for what you’re trying to accomplish in your business setting. There are so many options for this type of software but, one option that is top rated on multiple sites is labeled Scout topShelf Plus. With this software, you will have the ability to create purchase orders/sales orders, receive products, pick/pack/ship products, create reports, manage serialized assets and integrate your barcode scanner or scanner’s. Relative to the rest of the competition, this software is priced at $600 and that is a one year price. This is a fairly new product and so this price is for one year, as it is a cloud based application that will store any information on a server rather than relying on your computers HDD space.
Moving right along is the bar code printer of which prices will change frequently and you will need to provide up to date information regarding your products to customers and employees alike. These printers can be used for printing asset labels from your desk or in the warehouse making shipping labels. In this market, there are, once again, an abundant amount of...