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Role Of The Application Of Computer In Inventory Planning And Control In An Organization
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(10) INVENTORY CONTROL: This is the supervision of
the supply, storage and accessibility of items in order to ensure an
adequate supply with excessive or over supply.
(11) INVENTORY
MANAGEMENT: Is a major cost centre analysis which must be carefully
scrutinized by the firm with a view to employ prudent financial
management.
(12) Inventory planning: This is the activities and
techniques of determining the desired levels of items, whether raw
materials, work in process, or finished products include order
quantities and safety stock levels.
(13) Computer: this can be seen
as an electronic device which under the control of stored program,
accept data through its input devices,
(14) Computer science: is the
blending of principles theories and application of the technologies
that underlies the access to information
(15) STOCK OUT: This is a
situation where the stock position or level is nil. It is an ugly
situation that causes stoppage of operation.
(16) STOCK RECORD:
these are forms of clerical record designed to provide on the spot
information about all items of stock held within the stores
organization.
(17) DISCREPANCY: Can be defined as a non- arrestment
between the stock balance as indicated in the stock record and the
quantity physically funds and counted during stocktaking
(18) PILFERAGE: Means the act of stealing small amounts or small articles.
(19)
STORES: Is an area in an organization where various kinds of materials
needed for production, distribution, maintenance, packaging and general
administration etc. Are received in, stores and issued out on demand.
(20)
PURCHASING: This is a process involving the provision of raw materials,
tools and equipment of the right quality in the right quantity at of
the right time, at the right price and from the right place (source)
(21) DATE: This is raw- facts and figures generated by human’s and their activities.
(22) FRAUD: Is an international deception made for personal gain or to damage another individual.
(23)
OUTPUT: is the amount of materials/ products or result that a person, a
machine or an organization produces or the information, result, etc.
Produced by a computer
(24) INPUT: It means time, knowledge, ideas,
materials, etc that are out into work or a project etc in order to make a
success or produce a computer.
(25) WORK LOAD: This is the amount of work that has to be done by a particular person or an organization.
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ABSRACT - [ Total Page(s): 1 ]Inventories are the life wire of any services and manufacturing organization, they refer to the stock of items used in the operation of the business. This represents a significant portion of most firms assets and such demand proper management of efficiency and effectiveness and in that light it brings us to the research topic†the role of the application of computer in inventory planning and control in an organization .The role of computer as a data processing tools in business is today an ... Continue reading---
