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CHAPTER II

REVIEW OF LITERATURE AND STUDIES

This segment presents a review of documented sources on the meaning,


essence and development of sales and inventories. The researches sought to
highlight how sales and inventory systems have transformed as the industry
pursue to include more of technology. With these changes in system design, it is
therefore important to review these technologies and human computer interactivity
that make this revolution possible. The researchers also studied the literature to
recognize what advantage the industries stand to derived from this new system of
point-of-sale and inventory.

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.

Point-of-sale systems have replaced traditional cash registers, largely for


functionality reasons. POS systems, as they are sometimes called, are relatively
easy to use and help provide valuable data for important decision makers. In order
to keep up with the record-keeping needs of small and mid-sized businesses, a
good point-of-sale system is necessary. Web-based point-of-sale systems are
preferred over software-based point-of-sale systems 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

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.
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).

Averion, Gaela, and Libo (2009) stated that inventory system helps 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 study of Anna Marie Beltran Distor of Proposed Sales


Monitoring and Inventory System issued 1995, the enhanced work structure of the
company proper monitoring is vital in order to keep track of the establishment’s
sales activities. Her system aims to come up with an effective and precise
computerized system of preparing invoices that will keep track of the everyday
transaction and generate reports. Significant information will be provided by this
study in order to prove that the mechanization of the company’s operation and
attain a more consistent and effectual means of monitoring daily activities. Her
system concentrates on the analysis and design of the sales monitoring system
which will monitor the stacks inventory of the sales departments.
KONEK.COM management once said, “Manual method is very hassle and
time-consuming process of inventory. It has many drawbacks as there are many
mistakes while recording large data and it disturb some important transaction
sometimes”.

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 Korean Red


Ginseng Enterprise Sales and Inventory System, the researchers came up with a
computerized sales and inventory system. The proponents used database to easy
access of files and for easier and faster processing of the selling and inventory
transaction. The program was designated to generate reports such as monthly
reports, inventory reports, sales invoice and list of items.

SYNTHESIS

The primary idea behind any POS with inventory system, be it a manual or
a digital one, is to provide the information about the available resources within an
establishment and to keep a record of the daily transactions.

An POS system maintains its dominant position in the food industry, since
it is the core of food and drinks operations. It not only conveys the food and
beverage available, but also keeps track of the store’s sales. In addition to that, a
POS system can determine which products are more popular to the customers and
which don’t sell more.

In the current system, the POS system is used during transactions. This
study specifies the necessities for an electronic ordering system to lessen the
complications linked with the current method. Two related concepts are covered
by the general scope of the point-of-sale with inventory system. The first pertains
to the replacement of paper using an electronic format and the second surrounds
the course of recording said electronic orders. It should be noted that while the
suggested strategy includes the use of various hardware components, the primary
focus of this project, relates only to the fundamental software elements.

The electronic system designed at reducing human contact and improving


productivity during the food servicing in the cafe. This has brought about
divergence in their concept (manual and computerized POS system). This
divergence came from the integration of the ordering concept in the computerized
system. And this help by digitally recording on the choices of the regulars instead
of using manual means to carry out this function.

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