TITLE:
Smart Management Scheme for the Efficient Control of Industrial Inventory
AUTHORS:
Palash Saha, Md. Ariful Alam
KEYWORDS:
EOQ, Efficient, Database, Inventory Management
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.12 No.4,
April
11,
2022
ABSTRACT: To fulfill the growing demand of industrial goods, companies are keeping
more inventories as a business trick. As keeping inventory database management
system is very costly, industrial companies are switching to the manual
management system which is done with unfriendly report usually. This research
investigates the influence of a database management system for industrial
inventory and developed a system which will be very less costly to launch, more
efficient and more reliable. Visual Basic 2017 has been used to develop the
front-end of the software. SQL server has been used to create the back-end of
the software. The system has an error of zero tolerance because the scheme of
coding of the database and debugging the codes guarantees that the errors can
be specified and solved within very less time. The system will reduce costs,
number of errors and make the whole management more versatile. This database
system has been developed also to determine the Economic Order Quantity (EOQ)
and Reorder Level (ROL) and also to decrease the stock-outs. This inventory
database management system is newly treated and can also be used for various
vending under vendor managed inventory. This work will also help the
researchers to compare the automated system of keeping inventory with a manual
approach.