Oracle Thesis

Topics: Application software, Computer program, Computer software Pages: 7 (1843 words) Published: August 10, 2013
I. Introduction
Inventory management software 
is a computer-based system for tracking inventory levels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages. It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets. It is often associated with and is similar to distribution software. -------------------------------------------------

Features
Inventory management software is made up of several key components, all working together to create a cohesive inventory for many organizations' systems. These features include: Order management
Should inventory reach a certain threshold, a company's inventory management system can be programmed to tell managers to reorder that product. This helps companies avoid running out of products or tying up too much capital in inventory. Asset tracking

When a product is in a warehouse or store, it can be tracked via its barcode and/or other tracking criteria, such as serial number, lot number or revision number. Nowadays, inventory management software often utilizes barcode, radio-frequency identification (RFID), and/or wireless tracking technology. Service management

Companies that are primarily service-oriented rather than product-oriented can use inventory management software to track the cost of the materials they use to provide services, such as cleaning supplies. This way, they can attach prices to their services that reflect the total cost of performing them. Product identification

Barcodes are often the means whereby data on products and orders is inputted into inventory management software. A barcode readeris used to read barcodes and look up information on the products they represent. Radio-frequency identification (RFID) tags and wireless methods of product identification are also growing in popularity. -------------------------------------------------

History
The Universal Product Code (UPC) was adopted by the grocery industry in April 1973 as the standard barcode for all grocers, though it was not introduced at retailing locations until 1974. This helped drive down costs for inventory management because retailers in the United States and Canada didn’t have to purchase multiple barcode readers to scan competing barcodes. There was now one primary barcode for grocers and other retailers to buy one type of reader for. In the early 1980s, personal computers debuted and started becoming popular. This further pushed down the cost of barcodes and readers. It also allowed the first versions of inventory management software to be put into place. One of the biggest hurdles in selling readers and barcodes to retailers was the fact that they didn’t have a place to store the information they scanned. As computers became more common and affordable, this hurdle was overcome. Once barcodes and inventory management programs started spreading through grocery stores, inventory management by hand became less practical. Writing inventory data by hand on paper was replaced by scanning products and inputting information into a computer by hand. Starting in the early 2000s, inventory management software progressed to the point where businesspeople no longer needed to input data by hand but could instantly update their database with barcode readers. -------------------------------------------------

Purpose
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Companies often use inventory management software to reduce their carrying costs. The software is used to track products and parts as they are transported from a vendor to a warehouse, between warehouses, and finally to a retail location or directly to a customer. Inventory management software is used for a variety of purposes, including: * Maintaining a balance between too much and too little...
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