Project Topics

DESIGN AND IMPLEMENTATION OF STOCK MANAGEMENT SYSTEM

DESIGN AND IMPLEMENTATION OF STOCK MANAGEMENT SYSTEM

ABSTRACT

A stock management system
is a key part of the supply chain and primarily aims to control the movement
and storage of materials within a warehouse and process the associated
transactions, including shipping, receiving, put away and picking. The systems
also direct and optimize warehouse put away based on real-time information
about the status of bin utilization.

In times of economic slowdown, cutting costs is the
major strategy used by the companies. There is a need to track the performance
of each product in terms of demands to determine how much to order and when to
order. The parameters that are required to answer these questions are economic
order quantity and the reorder point. The annual cost of each product is
obtained to determine the best deal for the invoices received for the product.
This project implements a warehouse management system and tracks the
performance of each product using a web application. This will help decision
makers to initiate accurate re-order and make forecast and demand of the
product at any point in time.

Stock management system is an essential activity that
must be undertaken in an organization to ensure proper management of
inventories. In other to ensure for the proper management of inventories,
systems and software has to be put in place. System has to be developed to keep
proper track of all in-coming and out-going inventories.

The stock management system is basically designed to
capture and automate all shipping of products into the warehouse of NUGAB
Resources limited and to keep records of all products sold out, with the main
objective of the software being to bring efficiency into EffisonLimitedlimited.

 

TABLE OF CONTENT

CHAPTER 1 INTRODUCTION

1.1  INTRODUCTION———————————————————————————–6

1.2  PROJECT OVERVIEW—————————————————————————-7

1.3  PROBLEM STATEMENT————————————————————————-8

1.4  OBJECTIVES—————————————————————————————-8

1.5  SCOPE OF STUDY ——————————————————————————–9

CHAPTER 2 LITERATURE REVIEW

2.1
REVIEW TOPIC————————————————————————————10

CHAPTER 3 SOFTWARE ANALYSIS REQUIREMENT

3.1
EXISTING SYSTEM——————————————————————————16

3.2
PROPOSED SYSTEM—————————————————————————–16

3.3
SOFTWARE REQUIREMENT——————————————————————17

3.4
HARDWARE REQUIREMENT—————————————————————–19

CHAPTER 4 DATA DESIGN

4.1
NORMALIZATION——————————————————————————-20

4.2
DATAFLOW DIAGRAM————————————————————————22

4.3
CONTEXT ANALYSIS DIAGRAM———————————————————–24

4.4
DECISION TREE/TABLE———————————————————————–24

4.5
ENTITY RELATIONSHIP DIAGRAM——————————————————-26

CHAPTER 5 TESTING AND EXPERIMENTAL RESULTS

5.1
TESTING METHOD—————————————————————————–29

5.2
SAMPLE DATA RESULT———————————————————————-32

5.3
SECURITY—————————————————————————————-36

CHAPTER 6 CONCLUSION

6.1
INTRODUCTION——————————————————————————–38

6.2
SUMMARY OF WORK ————————————————————————39

6.3
ADVANTAGES OF THE SYSTEM———————————————————–39

6.4
LIMITATIONS————————————————————————————39

6.5
FUTURE ENHANCEMENT——————————————————————–40

6.6
CONCLUSION————————————————————————————40

GLOSSARY——————————————————————————————–42

SAMPLE
CODE—————————————————————————————43

USER
MANUAL————————————————————————————–66

REFERENCE——————————————————————————————-72

 

CHAPTER 1

1.1 Introduction

A stock management system
is a key part of the supply chain and primarily aims to control the movement
and storage of materials within a warehouse and process the associated
transactions, including shipping, receiving, put away and picking. The systems
also direct and optimize warehouse put away based on real-time information
about the status of bin utilization.

The objective of a stock management system is to provide a set of
computerized procedures to handle the receipt of warehouse and returns into a warehouse
facility, model and manage the logical representation of the physical storage
facilities (e.g. racking etc), manage the warehouse within the facility and
enable a seamless link to order processing and logistics management in order to
pick, pack and ship product out of the facility.

In its simplest form, the stock management system can data track
products during the production process and act as an interpreter and message
buffer between existing ERP (Enterprise resource planning) and stock management systems. Stock
Management is not just managing within the boundaries of a warehouse today; it
is much wider and goes beyond the physical boundaries. Inventory management,
inventory planning, cost management, IT applications & communication
technology to be used are all related to warehouse management. The container
storage, loading and unloading are also covered by warehouse management today.
Even production management is to a great extent dependent on stock management.
Efficient stock management gives a cutting edge to a retail chain distribution
company. Warehouse management does not just start with receipt of material but
it actually starts with actual initial planning when container design is made
for a product. Warehouse design and process design within the warehouse (e.g.
Wave Picking) is also part of warehouse management. Warehouse management is
part of Logistics and SCM.

Warehouse Management monitors the progress of products through the warehouse.
It involves the physical warehouse infrastructure, tracking systems, and
communication between product stations.

Warehouse management deals with receipt, storage and movement of
goods, normally finished goods, to intermediate storage locations or to final
customer. In the multi-echelon model for distribution, there are levels of warehouses,
starting with the Central Warehouse(s), regional warehouses services by the
central warehouses and retail warehouses at the third level services by the
regional warehouses and so on. The objective of warehousing management is to
help in optimal cost of timely order fulfillment by managing the resources
economically.

1.2Project Overview

This project gives a company the convenience of
controlling the activity in the warehouse and thereby giving information to
managers to assist in proper decision making the company. This project is
pursued with Effison Limited as the focus of impact.  The major modules of the project are:

User login module:

This module would be the first to appear when a user launches the
proposed system. These would help to ensure that un-authorized user don’t have
access to the system. At start-up users would be required to login with their
username and password.

Reports module

This module would be used for managerial staff for proper decision
making in the day- to – day activity of the company.

Customer module

This module would be responsible in registering a customer into the
company database. This information used during the registration process would
then be used during shipping to direct goods to the appropriate customer

New item module

This would be responsible for the acknowledgment of goods into the warehouse.

Warehouse update module

This module would be used during the process of updating the
quantity of a particular good in the warehouse.

 

1.3
Problem Statement

The majority of the problems that occur in the warehouse occur
because of a lack of control: a lack of inventory control, operational control
and or management control. To become a dynamic, consistent organization, all
the operation must be under control. In order to achieve this control, all the
tools and technology available has to be used to get control and manage the warehouse
operation. A control system is a means, mechanism or procedure by which we
manage these operations

In Effison Limited the method used in tracking goods involves the
traditional record keeping and identifying products according to written
labels. Inventory management and distribution typically relies on a traditional
process of taking a physical inventory of products and manually ordering
refills, while also eliminating product that is nearing or passed its expiry.

In the recording of a transaction only a single employee at a time
is able to enter the record on a ledger book and furthermore some goods are not
entered in the book but sold directly. Reports are not generated daily, weekly
or monthly but only on a yearly basis and this cause mishandling of funds among
the employees. The warehouse does not have a backup and recovery for the
products of transactions journals made for the inventory items. Security is not
there because the users and the administrators both perform the same tasks.

1.4
Objectives

stock
management within warehouses is a challenge given the characteristic value
specific nature of the products. Global visibility of finished and
semi-finished products can greatly improve both inventory turnover and maximize
production efficiency. One of the major goals in Stock Management is to track,
store and move goods and materials efficiently; keeping inventory levels down
while still always having enough products on hand. Picking and packing,
controlling logistics documents, and in and outbound monitoring are all part of
this process. The operations of this software include the following:

·        
Lowering Working Capital

·        
Increase inventory
turns

·        
Managing Fixed Assets & Resources

·        
Improve physical
inventory process,

·        
Prevent selling expired
products.

·        
To keep track of all
transaction to prevent any losses.

·        
To conduct casual
analysis to identify common trends in transaction by means of reports.

·        
To prevent the company
from running out of warehouses.

1.5
Scope of the study

The Stock
management system is intended to cover all the operations of the company. The
scope and tasks of the research project include finding out the scale of
implementation of stock management system and perceived barriers for adoption,
evaluating the strengths and weaknesses of warehouse management system
currently adopted by the industry as a whole