![]() Every information is stored in the computer memory so that a press of the button provides all the necessary information. The automated of stock control will help to restore clients goodwill about the store. This means that some stock keepers who may have the intention of defrauding the store may be discourage since every items is regulated by the computer screen. ![]() Obviously, the designing of this computer based inventory system is expected to enhance efficiency in households, companies and industries. As the country is presently facing galloping inflation there is absolute need for the control of inventory in each household to ensure optimal result. Efficient management of inventory can mean the difference between profit and loss, success and failure. It is essential for the survival of a household, yet efficient control of that supply and its accompanying cost is equally crucial to success. Many household maintained a high level of stock which is the prerequisite for the discharge of their function at the balancing level. They are stated at lower of cost or net reliable values. The values of all classes of household inventory are derivable by physical check on balance sheet data. The possibility of any of these happening lies on the fact that unlike other asset whose values are visible from book of account. More so, extra care should be taken to avoid pilferage, errors and manipulations. (c) Provision of accurate bases for cost accounting for the management and control of inventory (Rubin, 2007). (b) Reduction of losses due to inadequate inspection, damage of material, deterioration, obsolescence and pilferage. (a) Ordering of goods in economic quantity and prevention of large build up to non-essential goods. Besides monitoring control system automatically, almost all inventory control system generates an assortment of report for management. The daily transaction consumption are recorded by the transaction processing system which must account for the fact that a business transaction has just taken place. The system then help to checks if the desired household items are in stock, if the items are available for adequate use and consumption and the number of items of inventory balance. ![]() In other words, it does not necessarily refer to tangible merchandise on a shelf. Are used in the process of consumption record keeping.In the ordinary course of business and expenditures.Inventory for the household daily transaction.The term “inventory varies from establishment to establishment and household to household and hence can be defined in three different ways Computerized household inventory system today encompasses either directly or indirectly, a field of activity both private and public that revolves around the ownership possession and use of the inventory system. Household inventory can be very useful when dealing with insurance companies, as it provides documentation of the items that you own, thus helping your case for an insurance settlement. A household inventory is a documentation of every item in your home so that you have this in the event of disaster, such as burglary or fire outbreak. It usually consists of a list of the items and/or a videotaped walk through of your home which captures images of the items. ![]()
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