CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Computer is a deterministic device i.e. it uses input data and process to determine the anticipated outputs. Computer being an electronic machine, which accept data, process, store and retrieve information according to the predetermined program. The device obeys a particular application software manufactured by software companies for accepting, processing, storing and retrieving the post determined output for that particular purpose at that time. The processes undertaking by the computer may involve retrieving records sorting records, arithmetic calculations and other electronic manipulation processes. Computer displays information, prints information out, produce it in other form according to the instruction (software) given to it at the point of time. The computer undergoing program control, can equally performs arithmetic and logical operation with human intervention (Weiss, & Mark, 2015).
Computerization which practical application of the knowledge and processes of computer with our process. The growing of companies and transforming into the information technology (IT) has impetrated the need for designing and implementation of computerized business record keeping for the effective production and management. This idea is more pronounced on the researchers’ part of Nigeria. Most business owners produce goods and store them in the warehouse without taking due regard of taking record of them for profit maximization. This is primarily due to poor designing and implementation of the business outfit. Regret ability without prior to the objective and motive of the business, the goods are often deteriorated by reducing its marketable value and even by some unscrupulous and selfish staff of the business outfit (Weiss, et al., 2015).
Computerization of the price determining system is a remedy to such predicament because it picture out the pre-determined output at any point. It is deemed fit. Complex businesses comparing ought to have Buss-line Database. Any time the information about the business is needed by the manager or the appropriate personnel the data base of the business can be called up (retrieved) to give the required need. More so in a designed and implemented business sales and accounting system, loses are saved and profit is maximized (Weiss, et al., 2015).
With the great capacity and speed, computers have been extremely effective in processing massive quantities of accounting transactions and producing essential documents and reports. In the save view, the objectives of this project is to incorporate computer into the processing of information for Supermarket. Computerization of the store can remove wastage, guarantee quick service at service points of vital importance to the public and improve productivity. Such computerization effort often costs for less than the money and time it will save both the public and the organization.
What motivated or propelled me to write this project is because of some reasons that was observed in the existing system which sales her market based on manual pricing; firstly, much time is spent in processing massive quantities of accounting transactions, a lots of mistake are made during in the receipt/invoice, and documents could be physically damaged or lost due to insecurity issues, and finally, Sensitive records is at high tendency to be compromised by an unauthorized person. Because of the problems observed in the existing system, design and implementation of price determining system is initiated to ease all challenges.
- Statement of the Problems
Some problems faced in the financial management activities includes;
- Poor information circulation: poor information circulation leads to loss of customers, as the customers may be unaware of changes effected or if they could not obtain most of the time, the quantity of products they need.
- Much time is spent in processing massive quantities of accounting transactions and this leads to delay in product delivery.
- Mistakes are made in the receipt/invoice given to customers.
- Difficulty in determining when the branch is running out of stock.
- The control system is time consuming, less accurate and less efficient.
- Loss of record: Information and records stored in cabinets could be physically damaged or due to lack of backup or lost due to theft.
- Aim and Objectives of the Study
The aim and objective of this research work is to design and implement computerized price determining system for shop ware that will work towards the elimination of ineffective mode of operation in manual based price determining system.
The objectives of this study are as highlighted below;
- To develop software called price determining system that will replace the manual based price determining system.
- To develop software that will keep proper stock record so that stock will not be over stocked or under stocked.
- To develop software that would quickly record and compute all the sales made on daily basis.
- To ensure that quick and accurate calculations are carried out on all transaction without any suspicious of any sought.
- To enhanced method of record keeping which is less stressful and easy to replicate.
- To save the time wasted with manual based price determining system.
- To ensure easy flow of information between the shop and their customers.
1.4 Significance of the Study
The essence of price determining system is to assign price tag to each product, calculate all transaction made on daily basics, and generate receipts/invoice. Price determining system examines sales reports to see what product and services made the highest sales. The analysis is used to determine how to stock inventory, how to measure the effectiveness of a sales force, how to set manufacturing capacity and to see how the shop is performing against its goals. At any time during the fiscal year, sales managers may analyze the trends in the report to determine the best course of action.
1.5 Scope of the Study
The scope of this project is limited to the development of a price determining system for shop ware, Roban Stores Owerri considering the price determining system. It is expected that this project will be successful enough to draw interest from other business companies.
1.6 Limitations of Study
Some of the constraints that may have in one-way or another affected the outcome of this work include:
- Lack of adequate fund to finance the project: this was one of the limitation to this work because much money is needed to carry out a detailed research work which is not easily borne by every student.
- The limited knowledge of ASP.net and Visual Basic programming was great challenge to this project. However, more research was made to complete this project successfully.
1.7 Definition of Terms
Analyst: This is a person or professional who studies the problem encountered by a system and creates means of solving them by introducing a better system.
Business: this is the activity of making one’s living or making money by producing or buying and selling products (such as goods and services). Simply put, it is “any activity or enterprise entered into for profit (Needles, & Marian, 2018).
Computer: It is an electronic device operating the control of instructions stored in its memory that can accept data (input) manipulate the data according to a specified rules (processing) produces result output and stores the result for future use.
Data processing: is defined as the entire process of converting or manipulating data into definite meaningful information (Adigwe, & Okoye, 2015).
Data: It is the facts collected for decision making they are facts that are kept to be processed to get more information.
Database Management System (DBMS): it is software which controls the flow of data and checks and checks on how data are stored.
Database: is an organized /unique collection of related files. It is a collection of schemas, tables, queries, reports, views and other object.
Documentation: material that provides official information or evidence that serves as record; written specifications and information that describes the product.
Electronic Data Processing Equipment (EDP): it is a machine that performs the work of data manipulation.
Finance: the management of money and other assets.
Information: is a processed data that can be read and understand.
Inventory: List of goods.
Invoice: It is a piece of legal paper smarting the intake or transfer of a certain material in and out of a store or warehouse.
Management Information System (MIS): Information system that generates accurate timely and organized information so that manager and other user can make decision, solve problem supervise activities and track progress.
Payment Receipt: it referred to as a receipt for payment, is an accounting document that a business provides its student as proof of full or partial payment toward a product or service.
Price: It is the quantity of payment or compensation given by one party to another in return for one unit of goods or services.
Security: This helps to prevent unauthorized users from illegally accessing certain data in the database, it protects your data/ files.
Shop: this is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise.
Software: These are set of logically related instructions given to the computer to perform some specific task.
System: Is the collection of hardware and software, data information procedure and people.
Transaction: it is a business event that has a monetary impact on an entity’s financial statements, and is recorded as an entry in its accounting records.
DISCLAIMER: All project works, files and documents posted on this website, UniProjectTopics.com are the property/copyright of their respective owners. They are for research reference/guidance purposes only and some of the works may be crowd-sourced. Please don’t submit someone’s work as your own to avoid plagiarism and its consequences. Use it as a reference/citation/guidance purpose only and not copy the work word for word (verbatim). The paper should be used as a guide or framework for your own paper. The contents of this paper should be able to help you in generating new ideas and thoughts for your own study. UniProjectTopics.com is a repository of research works where works are uploaded for research guidance. Our aim of providing this work is to help you eradicate the stress of going from one school library to another in search of research materials. This is a legal service because all tertiary institutions permit their students to read previous works, projects, books, articles, journals or papers while developing their own works. This is where the need for literature review comes in. “What a good artist understands is that nothing comes from nowhere. All creative work builds on what came before. Nothing is completely original.” - Austin Kleon. The paid subscription on UniProjectTopics.com is a means by which the website is maintained to support Open Education. If you see your work posted here by any means, and you want it to be removed/credited, please contact us with the web address link to the work. We will reply to and honour every request. Please notice it may take up to 24 – 48 hours to process your request.
