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
orders. 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
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.
PROJECT DEFINITION

Stock management is the practice overseeing and controlling of the ordering, storage
and use of components that a company uses in the production of the items it sells. Stock
management has been used as a decision-making in countless firms and has been extensively
studied in the academic and corporate spheres. The purposes of Stock system are to know the
details of the items including code, name, condition, location of items and the year of purchase.
It is also to make easy for manage the item. Usually, creating inventory list can be done two
ways either manually or computerized. Manually inventorying is usually written data with
handwriting on the data books. It has many disadvantages. One of them is when the admin staff
input the data, it is prone to be typographical errors. A number of institutes and companies are
moving from manually collecting and processing data to a computerize system. Computerize
system has many options. Word processing or spreadsheet program (e.g. Microsoft Office®)
can be utilized to do the task but it has disadvantages. Manually entering data into the
spreadsheet can take a very long time especially if users have a lot of data to enter. It is also
possible to view or edit the important data which should not be shown. This is very adverse for
the institutes or companies. This project aims to develop a web-based application and mobile
application to collect and process Stock data for Department Stock Management System is a
process of managing and locating objector materials. In common usage, the term may also refer
to just the software components.

PROJECT OBJECTIVE

The project is designed to help in the management of stock. The main objective of the
new system includes:

1. Design a computer – driven stock management system to keep record and track
materials on the basis of both quantity and value.
2. To generate reports on all the activities in the store
3. Design and develop a central database system that would serve as store database, which
will contain information on all the available product in the store.
4. To develop a stock management system.
5. To track an item inventory in department.
6. To give general information of the item.
MODULE DESCRIPTION

Product Management:

Product Management serves as a central repository for product and market data for
Sales, Marketing, Development, and other departments. Over the product-market lifecycle,
Product Management is responsible for identifying and supporting the development of desired,
practicable, viable, and sustainable products that meet customer needs.

Inventory Management:

Centralized database to store information about all inventory items. Ability to

categorize items based on various criteria such as type, supplier, location, etc., Real-time
tracking of stock levels, including quantities on hand, on order, and in transit.

Order Management:

Creation and processing of purchase orders, sales orders, and transfer orders.
Integration with suppliers and vendors for automated order placement and fulfillment. Order
status tracking to monitor the progress of orders from placement to delivery. Alerts and
notifications for low stock levels, backorders, and delayed shipments.

Security and Compliance:

Role-based access control to restrict access to sensitive inventory data. Audit trails and
logging to track changes to inventory records and transactions. Compliance with regulatory
requirements such as FDA regulations for pharmaceutical inventory. Data encryption and
backup procedures to safeguard inventory information.