Inventory system helps a company’s warehouse for checking and tracking items of inventory that are being used in the operation. In order to keep track and monitor all transaction, the movement of inventory must be consider and account of all their stocks. However, there are some establishments that are still
recording the inventory of materials manually in every time there is a transaction.
According to Latido et al. (2015), inventory is basically the items of goods that are readily available and stored in a warehouse.
Inventory system is important and needed to be used by the company in the industries. This will speed up the filling of records, manpower utilization, the company will able to track the stocks, updates, changes in the company and other matters that include managing. A manual system is old fashion and has no assurance that the files have a security. (Ely, Montojo ; Reonico, 2011)
Inventory system is divided into separate procedures for reviewing, receiving, issuing, or inventory on-hand. The system supervisor can control which employees can issue stock, order, or adjust quantities based on stock inventories. (Anabeza, Aycardo, et al., 2010)
According to Flores, Garcillan, ; Lorzano (2011), says that the inventory system has the information that will be printed on the customers receipt. It also updates the products record in the stock files to indicate that the product has been sold.
Inventory system is necessary portion of an industry for the reason that inventories are typically the major expenditures acquired from the business processes. Most of the companies use an inventory system that will track and maintain the inventory. (Osita, Paragas, et al, 2011)