DESIGN AND IMPLEMENTATION OF A COMPUTERISED HOUSEHOLD INVENTORY SYSTEM
CHAPTER ONE INTRODUCTION 1.1 STUDY BACKGROUND
A household inventory is a record of every thing in your home that you can refer to in the event of a calamity, such as a burglary or fire. It usually includes a list of the objects and/or a recorded walkthrough of your home with photographs of the things. When dealing with insurance companies, a household inventory can be quite valuable because it gives proof of the objects you own, which can help your case for an insurance payment. Today, a computerized household inventory system comprises, either directly or indirectly, a private and public area of activity centered on the ownership, possession, and usage of the inventory system. The term “inventory” differs from establishment to establishment and household to household and can thus be defined in three ways; inventory for the household daily transaction. In the ordinary course of business and expenditures. Are used in the process of consumption record keeping.
In other words, it does not always refer to tangible goods on a shelf. The system then assists in determining whether the needed household items are in stock, whether the items are available for acceptable usage and consumption, and the quantity of inventory items in balance. The transaction processing system records daily transaction usage, which must account for the fact that a business transaction has recently occurred. Aside from automatically monitoring the control system, practically every inventory control system generates a variety of reports for management. The report could include the following items: (a) ordering commodities in reasonable quantities and avoiding excessive stockpiles of non-essential goods.
(a) Losses owing to poor inspection, material damage, deterioration, obsolescence, and pilferage are reduced.
(c) Providing accurate cost accounting grounds for inventory management and control (Rubin, 2007).
Furthermore, greater caution should be exercised to avoid pilferage, inaccuracies, and manipulations. The potential of any of these events occurring stems from the fact that, unlike other assets whose values can be seen in the book of accounts. Physical checks on balance sheet data can yield the values of all classes of household inventory. They are stated at the lowest of cost or net dependability. Many households kept a high level of stock, which is required for them to perform their job at the balancing level. It is necessary for a household’s survival, but effective control of that supply and its associated costs is equally important to success. Inventory management can make the difference between profit and loss, success and failure. Because the country is currently experiencing rapid inflation, inventory control in each household is critical to achieving the best possible results.
1.2 THE PROBLEM’S STATEMENT
The significance of a household inventory system cannot be fully appreciated until it is quantified. Although the worth of each household inventory varies from location to location and period to time, the fundamentals of any valuation are relatively the same in the same time and place. Manual household inventory problems range from inaccuracy to understocking or overstocking, which has hampered the growth of some households because they cannot suggest items that have fallen below the minimum re-order level. Many households incur avoidable financial and item loss and misuse of their possessions as a result of their overdependence on paper work (Zenz, 2004).
1.3 THE STUDY’S OBJECTIVES
The research project attempted to eliminate the manual system of household inventory system, namely to: 1. Design and implement a computer-based household inventory system.
2. Improve the effectiveness of management information systems in most computer-based firms by using a computer-based household inventory system.
3. Determine the necessity of a household inventory system.
4. Investigate the difficulties that families have when managing manual inventories.
5. Determine how to improve the household’s standard of living using an automated inventory system.
1.4 QUESTIONS FOR RESEARCH
1. How can the manual household inventory method be eliminated?
2. Can a computerized household inventory system improve the efficacy of management information?
3. Why is a household inventory system required?
4. What are the difficulties that families experience in managing manual inventory?
5. How may the installation of an automated household inventory system improve the family’s standard of living?
1.5 THE STUDY’S IMPORTANCE
Clearly, the development of this computer-based inventory system is expected to improve efficiency in households, businesses, and industries. It will aid in preventing pilferage. This means that stock keepers who intend to deceive the store may be discouraged because every item is regulated by the computer screen. The automated stock control will aid in restoring customer trust in the store. Every piece of information is saved in the computer memory so that a single button press provides all of the essential information. This study will undoubtedly assess all overstocking and understocking issues that are common with manual inventory control. The computer system will calculate “when” and “how much” to order; for each item in the house, a minimum quality (ordering amount) and a maximum quantity (ordering point) should be defined. Furthermore, this research will help to relieve the problem of financial accounting inaccuracy, which is caused by the unreliability of the human brain combined with clerical errors. In terms of accuracy and speed, human intelligence will never be able to compete with a computer’s brain. Furthermore, this research will address the issue of an overcrowded working environment connected with some households. The bulk of problems encountered by homes were revealed to be caused by a lack of an inventory control system. As a result, using automated stock control eliminates these issues.
1.6 STUDY OBJECTIVES
This research focuses on the design and implementation of a computerized household inventory system, with selected hotels in Lagos serving as case studies.
1.7 THE STUDY’S LIMITATIONS
1. Financial constraint- Inadequate funds tend to hamper the researcher’s efficiency in locating relevant materials, literature, or information, as well as in the data collection procedure (internet, questionnaire, and interview).
2. Time constraint- The researcher will conduct this investigation alongside other academic activities. As a result, the amount of time spent on research will be reduced.
1.8 TERMS AND CONDITIONS
Automated: These are programs that control how the computer system operates.
A computer is an electronic device that can accept data through its input unit and produce the result through its output unit.
Manual labor: The utilization of human effort to complete a specified task.
Loading is the process of putting people or luggage into a certain system.
Software: These are programs that control how a computer system operates.
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