Retail Loading Inventory System free essay sample

Introduction Along the rapidly advancing technology, there also arises a need to adopt the easy way to earn money. In every corner you will find an E-Load station. At the rate that people use their mobile phones and prepaid broadband connections, loading is now a basic need. It is needed for services ranging from communication, internet, bill payments and sales. A reloading business seems to be an easy way to earn money. It is because mobile phone now a day is necessity. Everyone asks for loads meaning everybody are customer. Dealers and retailers don’t need to ask people to buy their product because customer will automatically go for it when they need a mobile phone loads. This business is the most feasible business today it is because there about 35 million mobile phone subscriber and sending 1 million messages daily in the Philippine. Now a day, Entrepreneurs and consumers are investing and spending their money in easiest way to earn profit with the help of advancing technology. They can manage easily and manipulate their business without monitoring their sales per hour sales to compute the expected target income. With this, the researcher saw the opportunity to improve their business skills by creating an inventory system that will enhance their knowledge in manipulating and managing reloading business. Background of the study In a prepaid mobile phone, topping-up or reloading is needed to further enjoy the service offered by the proprietorship. There are a lot of options on how to reload a prepaid mobile phone. The most popular process is through purchasing prepaid card but due to security precautions, electronic reloading was developed. The technology of Electronic Reloading was first introduced in the Philippine by Smart Communication branding the service as SmartLoad and considered to be the world’s first electronic reloading service. The service offered micro-top ups meaning prepaid subscriber can top-up prepaid credits with small denomination. The service gained popularity and soon after other service provider also used technology in offering prepaid top-ups to its subscribers. In the Philippines, service provider uses different branding for electronic reload service. Smart Communication, Globe Telecoms and Sun Cellular use SmartLoad, AUTOLOADMax and XpressLoad respectively in branding the service. Entrepreneur and retailer of reloading businesses encountered problem in monitoring their targeted income. They also need to have an easy way to manage their returning customer by offering fast and good services. Purpose and Description The purpose of this study entitled â€Å"Retail loading inventory system of major network: GLOBE, SMART, and SUN† is to provide entrepreneur, proprietor, manager, and retailer an easy way to monitoring and updating their targeted income for the week, month and year. Aside from this, the researcher saw the need to minimize the hard work for the returning customer and need to establish inventory system to help both retailer and consumer to gain income and provide good services. Retail Loading Inventory System of major network: GLOBE, SMART, and SUN can encourage entrepreneur and retailer to have a retail loading business because this project has already formulated system to compute the targeted income of the business owner. The development of the system can help retailer to have technology advancement. Conceptual Framework This study entitled â€Å"Retail loading inventory system of major network: GLOBE, SMART, and SUN† help entrepreneur and retailer to easily manage and monitor the financial aspect of the retail loading system. By keeping the track of how much and how many times the retailer has reloaded so that the system can compute the expected target income. The target income should be enough to recover the expenses acquire and capital investment. Input Process Output The Figure above shows that the system requires the user to input the username and password for them to access the system. There was a manual process where retailer does the manual typing the list of customer reloaded to automatically compute the financial statement needed. It is resulted to Financial Statement and Files record of customer where the retailers can easily monitor and manage the targeted income and minimize hard work for multiple works. Statement of the Problem This study aimed to develop a Retail loading inventory system of major network: GLOBE, SMART and SUN. Specially, this sought answer to the following questions: 1. Do you earn more than your investment in Retail loading? a. Yes b. No c. Maybe 2. Is Retail loading profitable? a. Yes b. No c. Maybe 3. It is difficult to avail this kind of business? a. Yes b. No c. Maybe 4. Is it your retail business in demand in your place? a. Yes b. No c. Maybe Hypothesis It is hard to manage retail loading business in terms of computing targeted income you need to earn? a. Yes b. No c. Maybe Scope and Limitation The system require advance technology such as computer to the purpose of monitoring and managing financial stability of the retail loading business, minimize work of reloading the returning costumer and creating strategies to make business more in demand to the people. With the inventory system, the retailer can track and monitor the income and expenses acquired by the business and help them to know whether their income can be enough to recover the expenses acquired. It is also help them to minimize work of reloading returning customer because every number of customer is already recorded, their unique number use to track the transaction and know how many times their transact. This can be used to make promos for the returning customer. In the development of the system, software is use Microsoft Access 2010 and SQL database. The system requires atleast 300 RAM, colored monitor, keyboard and mouse. It can be used without internet connection. With regards to limitation, the system is restricted only with the retailer because he is the owner and right to making changes in the system. The system is track and monitor by each network provider which is Globe, Smart and Sun including their sub network such as TM and TalkNtext for the Globe and Smart respectively. Significance of the Project Study entitled â€Å"Retail loading inventory system of major network: GLOBE, SMART and SUN† can help to the following: To the Entrepreneurs. The developed system provides business that the investors put their money and have a business that can help economic stability. To the Retailers. The developed system helps to minimize the hard work about the multiple returning customers and formulated financial statement needed for the business. To the Manager. The developed system provides and efficient way to manage and monitoring whereabouts they can easily access the system and making strategies for the business. To the Researcher. The developed system plays a big role in helping their to discover, learn and enhance their knowledge in enhancing the business and doing the entire system. Definition of terms Technical terms The following terms are defined technically: Software. A general term used to describe a collection of computer programs. Microsoft Access. Is a database management system that combines relational Microsoft Jet Database Engine with graphical user interface and software-development tools. ( office. microsoft. com/en-001/access) SQL. Short for Structured Query Language providing data manipulation (store, retrieve, update, delete) and database creation. Inventory System. A process of tracking and monitoring different network provider to maintain target income. E-Loading. Short for Electronic reloading prepaid subscriber can top-up prepaid credits in small denomination. Operational Terms The following terms are defined operationally. Retailer. A business or a person that sells load to the consumer and has thr right to access all program in the system. Username. An identification used by retailer to access the system. Password. An secret word or phrase that can identify the username to access the system. Financial statement. Include the incomes statement, and expenses acquired and real income earned. CHAPTER 2 REVIEW OF RELATED LITERATURE AND STUDIES This chapter discussed the literature and studies on Retail loading inventory system which has evident relation to the study. Related Literature Foreign Literature According to Mr. Eugene F. Brigman, Fundamentals of Financial Management, 5TH edition, it cited the importance and effectiveness of using computer database inventory system. According to him a computer start with an inventory counts in memory. Withdrawals are recorded by the computer as they are made, and the inventory balance is constantly revised. When the recorded point is reached, the computer automatically places an order, when this new transaction is received, the recorded balance is increased. It used the latest technology in supporting this project to secure and to maintain the earn profits of this financial inventory system. Results were automatically produced by the system therefore saving valuable time and resources. According to Dollar Days the Basics of Retail Math, Retailing is all about change, because consumers change and so do their tastes. If you don’t change, you don’t grow. Financial Freedom, Setting your own schedule, being your own boss. Take your pick no matter what your collateral reasons for opening a retail store, the numbers are obviously what drive your decision about whether or not to invest the large and intense amount of time and effort it takes to build a business you can call your own. By Marvin Traub, former Chief Executive Officer (CEO) of Bloomingdale’s. Bloomingdale’s is an upscale chain of department stores currently owned by Macy’s Inc. Founded in 1861, its primary competitors are Neiman Marcus, Saks Fifth Avenue, Bergdorf Goodman, Barneys New York, Lord Taylor and Nordstrom. According to a website (http://www. studymode. com/essays/Chapter-Ii-Related-Literature-And-Studies-767850. html), It cited that it is nearly impossible to overemphasize the importance of keeping inventory levels under control, â€Å"Ronals Pachura wrote in an article for IIE solutions ( IIE reserves the right to manage its system and network resources utilized by each web site, and to make whatever changes necessary to ensure optimum performance for all of our customers. ), â€Å"Whether the problems incurred are cause by carrying too little or too much inventory, manufacturers need to become aware that inventory control is not just a materials management or warehouse department issue. The purchasing, receiving, and accounting departments all contribute to the accuracy of the inventory methods and records. â€Å"It is little wonder that business experts commonly cite inventory management as a vital element that can spell the difference between success and failure in today’s keenly competitive business world. Writing in Production and Inventory Management Journal, Godwin Udo described telecommunications technology as a critical organizational asset that can help a company realize important competitive gains in the area of inventory management. According to Technology Advances in Retail In the general enterprise market, wireless LAN’s are being adopted primarily as part of the networking infrastructure, to support standard desktop applications such as email, web browsing, file server access, and other conventional enterprises applications. In the retail industry, wireless LAN’s are deployed to support much more specific and Innovative applications, with a focus on either improving existing processes or adding new ones. According to a PDF file document (ARUBA NETWORKS), Improving Margins using Wireless Networks. The retail industry is one that lives and dies on margins, with managers on a never-ending quest to increase revenue and decrease costs. Technology has been an area of intense focus in retail industries as a way to accomplish both goals. Improvements have been made in areas such as supply chain management, Inventory management, customer experience, and loss prevention. Wireless technology, permitting communication between people and devices anywhere and without cables, has enabled the dramatic transformation of business processes in the past, and continues to do so. However, wireless deployment, inadequate management solutions, lack of standards, and availability of innovative solutions. Rapid advances in wireless local area network (WLAN), technology in recent years along with widespread adoption of the technology. This white paper discusses the applications for this technology, the security requirements in a retail environment, and considerations when selecting the right architecture for mobile network deployments.