20-06-2013, 03:42 PM
Inventory control system
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Abstract
• An inventory control system is a process for managing and locating objects or materials. In common usage, the term may also refer to just the software components.
• Modern inventory control systems often rely upon barcodes and radio-frequency identification (RFID) tags to provide automatic identification of inventory objects. In an academic study[1] performed at Wal-Mart, RFID reduced Out of Stocks by 30 percent for products selling between 0.1 and 15 units a day. Inventory objects could include any kind of physical asset: merchandise, consumables, fixed assets, circulating tools, library books, or capital equipment. To record an inventory transaction, the system uses a barcode scanner or RFID reader to automatically identify the inventory object, and then collects additional information from the operators via fixed terminals (workstations), or mobile computers.
• Applications
• An inventory control system may be used to automate a sales order fulfillment process. Such a system contains a list of orders to be filled, and then prompts workers to pick the necessary items, and provides them with packaging and shipping
• An inventory system also manages in and outwards material of hardware.
• Real-time inventory control systems may use wireless, mobile terminals to record inventory transactions at the moment they occur. A wireless LAN transmits the transaction information to a central database.
• Physical inventory counting and cycle counting are features of many inventory control systems which can enhance the organization.