Managerial Accounting by Kieso and WeygandtFull description
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Chapter 2 describes on research methodologyDeskripsi lengkap
OFC 2nd unit notes
Chapter 2 REVIEW OF RELATED SYSTEMS This chapter presents the review of related literature and studies that have some relevance to the research proposal about point of sale system.
Foreign Literature and Studies: As defined by Carolina Barcode Inc. (2013), a Point-of-Sale system is a computer software and hardware networked together to track sales and inventory as they occur. Point-of-Sale systems will solve a multitude of problems in your business. It is one of the focal points of any retail or hospitality business in the cash register. The ability to process transactions and tender cash are essential to the efficient operation of the enterprise. If you have a lot of cash transactions, replacing the cash registers with a Point-Of-Sale (POS) system save you money. In an early age when most of the company are still using the manual system in the sales and inventory, most of the company encountered so many problems and this is because of the process of the existing system is too slow and too long. According to Kaye Morris (2010), manual inventory management system can help sales and production managers control costs by identifying lost sales due to inventory shortages; inventory overrides on products that are not selling; losses due to employee’s theft or damage. Implementing an inventory management system can take a large amount of time depending on the size and diversity of inventory. According to the thesis of Carlo Magno “There was a ground swell to move from paper signature and documents because the task of record management was huge. We had
file cabinets full of backup materials. By converting from manual process, we would be able to eliminate a lot of paper. We could go further with the automation of manual process and remove manual paperwork if people trusted the technology. Point-of-sale systems have replaced traditional cash registers, largely for functionality reasons. POS systems, as they are sometimes called, are relatively easy touse and help provide valuable data for important decision makers. In order to keep upwith the record-keeping needs of small and mid-sized businesses, a good point-ofsalesystem is necessary. Web-based point-of-sale systems are preferred over softwarebased possystems because they are easily upgradeable, and feature access from multiple computers (Carter, 2012) The best thing about having a computerized POS System in your retail business is: as new stocks arrives and as it is sold, it keeps the stock levels current and updated, hence making it is easier to identify which items are selling and which items are not. A POS System is also good in checking for any obsolete or out of date stock that needs to be disposed. If you are still counting your inventory manually on the shelves or in the warehouse, you should think twice about your method, for there are many advantages in using a POS System. One advantage of a POS System is its ability to help your business achieve detailed real-time stock level information. In addition, a POS System can also give you information such as weather forecasts, public holidays and major sporting events, which can be of great help in determining the stock level of seasonal products. You can now efficiently and effectively handle your stock management accurately (Ganderton, 2010).
One of the biggest, and probably one of the most important, advantages of an automated sales and inventory system is that it helps businesses focus on their biggest goal, to improve the customers experience at the store (Mueller, 2011). With this system, companies can have a better understanding of customer demand through the analysis of their sales and inventory.
Local Literature and Studies: The Sales and Inventory System of the vital to any institution, agency, or department. The proper safekeeping, processing and disposal of records play important roles in the efficient, effective and smooth operation that eventually would lead to the success attainment of the goal and objectives of institution, agency and department concerned. Based on her recommendation there should be a central record management office that will hold data of the agency to serve as locator of the record and to control the disposal of each record. This can be possible with computerized system. Computer with the appropriate software package is capable of handling records efficiently and effectively. In addition, locating records that are computerized is faster than finding them in the filling cabinet (Magat, 2007). According to Gemma Navarro (2012) Computer is general purpose device which can be programmed to carry out a finite set arithmetic or local operation. Computer has a big rule in our nation today because of our technology. Wherever you go computer still exist, especially in business it makes the procedure easy and secure by programming the manual system into a computerizing system. The rule of technology in our life today has a big impact.
Averion, Gaela, and Libo (2009) stated that inventory system help to minimize the difficulty of the manager in processing inventory because physical counting products, stocks and computing inventory summary will be the system job. It will monitor the availability of products, items to prevent under stocking, over stocking and running out of stocks. The system will also simplify the transaction between dealer and supplier relationship because of the updated supplier information and price list of items will correspond to collaboration with other supplier.” According to the thesis of Carlo Magno “There was a ground swell to move from paper signature and documents because the task of record management was huge. We had file cabinets full of backup materials. By converting from manual process, we would be able to eliminate a lot of paper. We could go further with the automation of manual process and remove manual paperwork if people trusted the technology. According to J.De Leon and M. Ferrer (2009) Under the Koread RedGinseng Enterprise Sales and Inventory System, the researchers came up with acomputerized sales and inventory system. The proponents used database toeasy access of files and for easier and faster processing of the selling andinventory transaction. The program was designated to generate reports such asmonthly reports, inventory reports, sales invoice and list of items.