Inventory Management System Research Articles

The Functionality of Financial Control Activities in a Decentralised Basic Education Program in Uganda

Financial control activities are critical in enhancing financial accountability. This article aimed at determining the functionality of financial control activities in decentralised basic education programmes. It sought to investigate how control activities in the Universal Primary Education programme (UPE) affect the internal controls and subsequently financial accountability of the grant. The researchers conducted an exploratory review of the literature and used semi-structured interviews to collect primary data. The findings focused on physical controls in the UPE capitation grant. Under physical controls, emphasis was placed on mechanisms for securing cash and inventory. The findings revealed that physical control of the custody of cash in UPE schools is weak. This puts other school assets at risk of burglary by individuals who may get to know that there is cash in the office. The weak physical controls create an urge for the head teachers to divert resources. A scrutiny of the inventory management process exposed some gaps affecting the entire physical control system. The inventory management system is heavily compromised. Given the foregoing findings, we can argue that the financial control activities in this UPE programme are dysfunctional. The functionality of financial control activities will be enhanced if the physical control activities are strengthened and all the receipts and inventories are properly recorded. Keywords: Functionality, Financial Control, Decentralised Basic Education System and Financial Accountability

Rancang Bangun Sistem Inventory (Studi Kasus: UD. Asia Pratama Pekanbaru)

UD Asia Pratama Pekanbaru, a trading company in the building industry, is facing problems in managing inventory which is still manual, causing inefficiencies and inaccurate data. This research aims to design and implement an efficient and effective web-based inventory management system. The system development method uses the Waterfall model, including requirements analysis, design, implementation and testing. Data was collected through interviews with employees and analysis of documents related to inventory. The research results show that the system developed can increase inventory management efficiency, with real-time stock management features, recording of incoming and outgoing goods, and accurate reporting. User testing and evaluation shows that the system is acceptable and meets UD Asia Pratama's needs in overcoming inventory problems.

Developing a Performance Evaluation Benchmark for Event Sourcing Databases

In the domain of software architecture, Event Sourcing (ES) has emerged as a significant paradigm, especially for systems requiring high levels of auditability, traceability, and intricate state management. Systems such as financial transaction platforms, inventory management systems, customer relationship management (CRM) software, and any application requiring a detailed audit trail can significantly benefit from this approach. Numerous aspects of ES remain unexplored, as they have yet to be thoroughly investigated by scientific research. The unique demands of such systems, particularly in terms of database performance and functionality, are not adequately addressed by existing database benchmarks. By establishing benchmarks, organizations can compare different databases to determine which best meets their needs for applications. This aids in selecting the most appropriate technology based on empirical data rather than assumptions or marketing claims.This paper introduces a novel benchmarking framework specifically designed for evaluating databases in the context of event sourcing. The framework addresses critical aspects unique to ES, including event append performance, efficient handling of Projections (separate databases for read operations), strong consistency, ordered data insertion, and robust versioning controls. Through rigorous testing and analysis, this framework aims to fill the gap in existing database benchmarking tools, providing a more accurate and relevant assessment for ES systems. We also conducted experiments that not only demonstrated the effectiveness of our approach but also yielded meaningful results, substantiating its practicality and applicability.

Exploring Green Inventory Management through Periodic Review Inventory Systems—A Comprehensive Literature Review and Directions for Future Research

With the increasing environmental concerns and legislative pressures, the focus on incorporating ecologically sustainable practices into inventory management systems has grown, leading to the emergence of green inventory management. However, this field is not without its challenges, with numerous conflicting real-world constraints and goals. A comprehensive literature review targeting green inventory management operating under a periodic review inventory system was conducted to identify research gaps and potential directions for future research. Despite the growing interest in the field, this review highlighted the scarcity of relevant studies. Out of the 1272 papers reviewed, only 16 studies, or 1.3%, met the criteria for exploring periodic review inventory systems while simultaneously considering environmental and economic aspects. These studies were further analyzed in detail and categorized according to key classification criteria. The future research directions highlighted the need for additional studies on periodic review inventory systems operating under stochastic market demand in the context of green supply chain management. The standardization of emission calculation methodologies was also emphasized as a crucial step towards aligning inventory management practices with the aim of increasing inventory management efficiency and the related improvement in the environmental performance of supply chains.

Construction of a controller for discrete inventory management systems based on forecast

Construction of a controller for discrete inventory management systems based on forecast

An Inventory Model for Deteriorating Items with Stock-Dependent Demand under Fuzzy Lead Time and Partial Backlogging

For inventory management purposes, lead time refers to the amount of time it takes for a purchase order to be completed. Its effect is an important phenomenon in inventory management system. It also plays a significant role when lead time unknown to the decision makers. This paper deals with an inventory model for deteriorating items under fuzzy lead time. The stock dependent demand with partially backlogged shortages are considered in the proposed model. The total inventory costs for both crisp model and fuzzy model are derived. The fuzzy lead time is assumed to be triangular and trapezoidal numbers. The signed distance methods (SD) is used for defuzzification purpose. The developed model is validated with the help of numerical illustration under both crisp and fuzzy scenario. A pictorial presentation is furnished to explain the behaviour of the total inventory costs towards lead-crisp, lead-triangular and lead-trapezoidal values. Lastly a sensitivity analysis is performed to judge the sensitive behaviour of the total cost towards changes of the cost parameters.

Factors Affecting the Management of Warehouse Inventory through the Vendor Managed Inventory (VMI) System in Superstore Businesses in the Bangkok Metropolitan Area

Factors Affecting the Management of Warehouse Inventory through the Vendor Managed Inventory (VMI) System in Superstore Businesses in the Bangkok Metropolitan Area

A Structural Break in the Aggregate Earnings–Returns Relation

Abstract This study empirically estimates the date of the structural change in the aggregate earnings–returns relation and reports it as the fourth quarter of 1991. We identify three sources of the structural change: (i) an increase in the relative importance of cash flow news contained in stock returns; (ii) a decrease in the importance of discount rate news contained in aggregate earnings; and (iii) a decrease in the persistence or the predictability of aggregate earnings and returns. Next, we examine the components of aggregate earnings and find that the change in the aggregate earnings–returns relation is largely driven by intertemporal changes in aggregate inventory accruals, suggesting the structural change is attributable to improved inventory management systems.

Collaborative system model construction and simulation optimization of e-commerce enterprise supply chain

ABSTRACT With the rise and rapid development of the e-commerce industry, the pressure borne by the supply chain of e-commerce enterprises is increasing, which greatly increases the complexity and uncertainty of inventory management in the e-commerce supply chain. The study integrates system dynamics and collaborative supply chain inventory management to construct a new model. The study first uses the concept of system dynamics to optimize the supply chain inventory management system; then the collaborative supply chain is used to construct a system model by combining the optimized management system. The results show that the collaborative supply chain inventory management model constructed by the study can better accelerate the product turnover rate, improve the overall operational efficiency and market competitiveness of the supply chain, and can provide new support for the development of e-commerce enterprises.

Implementation of the Boyer-Moore Majority Vote Algorithm in an Internet of Things-Based Inventory Management System

Implementation of the Boyer-Moore Majority Vote Algorithm in an Internet of Things-Based Inventory Management System

A systematic approach to the supply of non-metallic construction materials on river transportation

n the presented study, the process of extraction and supply of non-metallic building materials on river transport is described from a systematic point of view. In the course of the study, functional and organizational models of a generalized river transport enterprise were developed for the system of extraction and supply of non-metallic building materials, as well as several organizational models of the following functional subsystems included in it: pre-production, extraction and production of non-metallic building materials, supply management, planning, logistics. Special attention is paid to the study of the pre-production stage of the logistic process of extraction and production of these materials. A systematic approach has made it possible to show that currently the weakest link in the supply of non-metallic building materials by river transport is the backward technical base of production and transshipment of non-metallic building materials. This is due to the fact that the modernization of mining equipment is hampered, on the one hand, by the practical absence of its production by domestic enterprises, and, on the other hand, by sanctions restrictions on foreign supplies. This affects the cost and quality of non-metallic construction materials supplied; environmental processes accompanying the extraction process. Additionally, the weak development of digital technologies in interaction with customers has an impact on supply management in general, and the lack of a scientifically based inventory management system in the process of year-round production and supply affects the level of service and cost of supplies.

Web-Based Design of Vehicle Management Information System of Widyatama University

Vehicle inventory management and data collection information system is a system based on a Management Information System so that it has complete implementation functions that aim to record all vehicles. The main objective of developing this information system is to provide services that are faster, transparent and accurate on the service side of borrowing official vehicles within the Widyatama University environment. In the current vehicle inventory information system, it is not yet computerized and is done manually. The new data collection system will later be connected to a coordinated and structured computer network, including to test motorized vehicles to determine eligibility standards according to their type so that the vehicles are ready for use and when they return. In terms of the business process, the applicant fills in vehicle data via computer, the officer tests the vehicle according to the request data and specifications of the vehicle to be tested so that the vehicle is included in the loan inventory data and is roadworthy. The inventory registration information system is expected to be useful for minimizing errors that have occurred so far such as the unclear condition of the vehicle and when the vehicle will return, the design of the inventory information system is expected to produce an inventory information system that can work optimally and efficiently can perform testing services, readiness of drivers and management of motorized vehicles that operate according to the provisions that have been regulated, where the type of service can be adjusted to vehicle test data that is periodic, mutations in (Arrive) / out (booking) can be seen clearly by officers or users, other functions are there are changes to the function and status of the vehicle so that the vehicle will always be available and ready to be used.)

Supporting young women’s health through girl-friendly drug vendors in Lake Zone, Tanzania: protocol for the AmbassADDOrs for Health cluster-randomised controlled trial

IntroductionAdverse sexual and reproductive health (SRH) outcomes, such as unplanned pregnancies and HIV infection, disproportionately affect adolescent girls and young women (AGYW; aged 15–24 years) in east Africa. Increasing uptake...

Fog Computing and Industry 4.0 for Newsvendor Inventory Model Using Attention Mechanism and Gated Recurrent Unit

Background: Efficient inventory management is critical for sustainability in supply chains. However, maintaining adequate inventory levels becomes challenging in the face of unpredictable demand patterns. Furthermore, the need to disseminate demand-related information throughout a company often relies on cloud services. However, this method sometimes encounters issues such as limited bandwidth and increased latency. Methods: To address these challenges, our study introduces a system that incorporates a machine learning algorithm to address inventory-related uncertainties arising from demand fluctuations. Our approach involves the use of an attention mechanism for accurate demand prediction. We combine it with the Newsvendor model to determine optimal inventory levels. The system is integrated with fog computing to facilitate the rapid dissemination of information throughout the company. Results: In experiments, we compare the proposed system with the conventional demand estimation approach based on historical data and observe that the proposed system consistently outperformed the conventional approach. Conclusions: This research introduces an inventory management system based on a novel deep learning architecture that integrates the attention mechanism with cloud computing to address the Newsvendor problem. Experiments demonstrate the better accuracy of this system in comparison to existing methods. More studies should be conducted to explore its applicability to other demand modeling scenarios.

ROI Analysis of RFID-Based Intelligent Inventory Management Systems

This paper investigates the return on investment (ROI) of RFID-based intelligent inventory management systems. RFID (Radio Frequency Identification) technology has revolutionized inventory management by providing real-time visibility, improved accuracy, and enhanced operational efficiency. The study employs a mixed-methods approach, integrating both qualitative insights from industry experts and quantitative data from surveys and existing literature. Initial setup costs, ongoing maintenance expenses, and tangible and intangible benefits are thoroughly analyzed. The findings reveal that while the initial investment in RFID technology can be substantial, the benefits in terms of reduced labor costs, minimized inventory shrinkage, and improved inventory accuracy significantly outweigh the costs. ROI calculations, including payback period and net present value (NPV), demonstrate the economic viability of RFID systems. Comparative analysis shows that RFID systems outperform traditional inventory management systems, especially in sectors such as retail and healthcare. This paper provides a comprehensive framework for evaluating the ROI of RFID technology and offers practical recommendations for businesses considering its adoption.

Leveraging Business Analytics for Strategic Merchandising Decisions in Fashion Retail

The application of business analytics to strategic merchandising decisions in the retail fashion industry is investigated in this study. Using data-driven insights has become essential for improving product assortments, pricing strategies, and inventory management as the business faces increasing complexity due to rapidly changing consumer preferences, seasonal demand changes, and more competition. The main goal of this study is to examine how fashion retailers may use business analytics to strengthen their merchandising plans, increase operational effectiveness, and increase profitability. The application of real-time inventory management systems, dynamic pricing models, and predictive analytics in the retail fashion industry is highlighted. This study attempts to provide actionable insights that enable retailers to make better-educated, data-centric decisions by addressing the opportunities and difficulties related to these sophisticated analytical tools. Despite its potential to improve retail operations, a major problem identified in this study is the underutilization of business analytics in merchandising decisions. To solve this issue, a qualitative research methodology was used to evaluate the current state of analytics integration in fashion retail using secondary data from industry reports, case studies, literature reviews, and other pertinent sources. The results show that using analytics has many benefits, including better demand forecasting, more accurate pricing, and more effective inventory management. However, the study also identifies barriers such as difficulties integrating data, the need for qualified staff, and moral dilemmas about the privacy of customer data. By shedding light on the efficient use of business analytics in the retail fashion industry, this study enhances theoretical knowledge and real-world implementation. It makes recommendations for removing adoption hurdles while highlighting the necessity of combining analytics with human knowledge and creativity. A better understanding of how data-driven decision-making affects merchandising procedures in fashion retail is one of the theoretical ramifications. Practically, the study suggests tactics for retailers to maximize their use of analytics to stay competitive in a market that is changing quickly. This study admits some limitations despite its insightful findings, most notably its reliance on secondary data that might not accurately represent the most recent advancements in technology or industry trends. Future studies should investigate how analytics affect consumer behavior and retail performance over the long run, as well as how small and medium-sized businesses may use these technologies efficiently.

Application Design of Stock Inventory of Meatball Serving Ingredients for Anhel MSME Bakso

Inventory management systems are a cornerstone of operational efficiency for MSMEs (Micro et al.). This study aims to develop and implement an inventory management information system for MSME Bakso ANHEL. The system, which enables real-time inventory tracking, order optimization, and improved supply chain efficiency, is a testament to the transformative power of information technology in enhancing the competitiveness of MSMEs. The findings of this study can provide valuable insights for MSME Bakso ANHEL and other similar businesses, equipping them with the tools to address inventory management challenges. The strategic use of information technology is a game-changer for micro, small, and medium enterprises (MSMEs).

Inventory Management System

For organizations that handle transactions involving consumer goods, an inventory management system is critical for quality control. A huge retail store could run out of supply of a critical item if inventory is not properly managed. When it’s time to reorder, an effective inventory management system will notify the retailer. This inventory management system is also useful for tracking huge shipments automatically. Counting each pair of stocks by hand will almost certainly result in a mistake. The risk of human error can be reduced by using an automated inventory management system. An Inventory Management System also aids in the tracking of retail product theft, providing useful information regarding store revenues and the need for theft-prevention devices. Scanning a barcode on the item or a barcode scanner is how Automated Inventory Management Systems function. The central computer system then keeps track of this data. The purchase order can also include a list of items that need to be pulled for packaging and shipping. In this situation, the Inventory Management System can perform a range of tasks. It can assist a warehouse worker in locating things on an order list, encoding shipment information such as tracking numbers and delivery addresses and removing purchased items from the inventory tally to maintain a correct count of in-stock items. All of this information works together to give firms real-time inventory tracking data. The simple search in a database makes it easy to find and look at inventory information in real-time.The inventory management system project abstract tells the overall function of the software. It consists of the reason why the project was proposed and the solutions made to answer the needs of the targeted users. To enlighten you with this, here’s the Inventory Management System Project Abstract

A Comprehensive Analysis of Inventory Management and Its Potential Implications on Financial Reports

Abstract: Inventory management plays a pivotal role in businesses' operational efficiency and financial success, encompassing processes aimed at maintaining optimal stock levels while minimizing costs and meeting customer demand. This paper presents a comprehensive analysis of inventory management practices, focusing on their impact on financial performance, challenges, opportunities, and best practices. Through a literature review, the study examines existing research on inventory management, highlighting its significant positive relationship with organizational performance. The research methodology includes correlation analysis, descriptive statistics, questionnaire analysis, and hypothesis testing to explore the intricate dynamics of inventory management. Findings reveal a strong correlation between efficient inventory management practices and improved financial metrics, emphasizing the importance of implementing advanced inventory management systems, enhancing forecasting accuracy, and fostering collaboration within supply chains. The study concludes with practical recommendations for businesses seeking to optimize their inventory management processes and enhance financial performance in today's competitive marketplace

SISTEM PENGELOLAAN PERSEDIAAN PADA PT BENDORO KREASI INDONESIA, JAKARTA

The inventory management system at PT. Bendoro Kreasi Indonesia is good enough. This can be seen from the existence of inventory management procedures that start from the arrival of inventory to the production of products. Likewise, the procedure is in accordance with the existing system, namely with a clear separation of functions between the operational department along with finance and marketing, as well as recording and reporting to the President Director with supporting documents. The inventory management system still has several weaknesses, namely in stock card recording or Daily Stock which uses manual recording which can still be improved. So that later there will be no mistakes and mistakes at the time of stock recording.