Chapter 2

Review of Related Literature

 
 
FOREIGN LITERATURE

1.
According to S. Angeles (2016), Shop Keep is the best pick of POS for retailers because it
is
A cloud based service applications. Services or resources made available to users on demand via
internet from a cloud computing provider’s servers. This POS system for retailers comes with a
ton of useful features. Offers plenty of tools to help the retailers to save time and boost sales,
spend time growing the business and less time worrying back-end processes. Therefore, this
system help the retailers to easily manage inventories, gather information, boost sales, manage
employees and report scan be generated straight from the point of sale system. ( S. Angeles,
2016) [Link]

2.
According to A. Bianca (2012), Sales and Inventory Monitoring System can help the
company to make strategic business decision. This system collects company’s data to control the
stocks and determines the level of production according to the demand. This system gives the
company a competitive advantage by linking different automated processes and can exploit these
linkages. Therefore, Sales and inventory monitoring system will help the management to make a
rapid decision regarding with the stocks, production scheduling, material purchases, pricing,
logistics and other decisions to increase revenues and meet the customer’s demand. (A. Bianca,
2012) [Link]

3.
Inventory Management may seen complicated to some, but if one truly thinks about what
the word “inventory management” means, it is simple concept. Inventory basically a list of goods
and materials that are held by a business and are available in stock. Inventory Management is the
process of keeping track of inventory and having the delicate balance of supply and demand
firmly mastered. When having inventory, a company does not ever want to have too much of a
product, nor does it want to have not enough of that product to meet demand. Inventory
Management helps to ensure that a proper inventory is maintained at all times. (Ronsworth,
2010) [Link].

4.
Ensuring the availability of materials and goods is one of the major responsibilities and
goals of inventory management, requiring various techniques such as mathematical modeling
and computational methods. To introduce the basics of inventory systems and mathematical
assumptions for all models are grouped together, thereafter mathematical principles and
applications are treated as they relate to one another. With this clearly organized
systematic exposition and a unique balance is maintained between simplicity and rigor.
(Sapra, 2010) [Link]

5.
Inventory management systems do not make decisions directly, but help
employees to make decisions. A good inventory management system would also provide
help in forecasting the demand and supply apart from ensuring that the confusing
paper work is done away with. It makes sure that information about warehouse and
links to suppliers of raw materials as well as customers, retailers and wholesalers is readily
available for use. (Patel, 2010) [Link]

LOCAL LITERATURE

1.

By definition, the point of sale (POS), or point of purchase, is the time and place in your
retail store where transactions are completed. This is also known as the point of purchase. Think
of the point of sale as your store’s checkout counter—the place where you check out customers,
take payment, and complete transactions. ([Link], 2022)

2.
The Point Of Sale (also called POS or checkout, during computerization later
becoming electronic point of sale or EPOS) is the place where a retail transaction is completed. It
is the point at which a customer makes a payment to the merchant in exchange for goods or
services. At the point of sale the retailer would calculate the amount owed by the customer and
provide options for the customer to make payment. The merchant will also normally issue a
receipt for the transaction. (Raniza, 2014) [Link]
3.
“Technology is just a tool, in terms of getting the kids working together and motivating
them, the teacher is the most important. –Bill Gates”. As for our daily lives, technology has
surrounded us in a way that it helps us to communicate, to learn new things and to make our
work easier. And as years goes on, technology evolves and it was so much easier with our finger
tips unlike those years that people used manual pen and paper to their tasks. (Neaj, 2014)
[Link]
4.

Over the years, more enhancements were made to the cash registers until the early 1970s,
when the first computer-driven cash registers were introduced. The first computer-driven cash
registers were basically a mainframe computer packaged as a store controller that could control
certain registers. These points of sale systems were the first to commercially utilize client-server
technology, peer-to-peer communications, Local Area Network (LAN) backups, and remote
initialization. In the late 1980s, retail software based on PC technology began to make its way
into mainstream retail businesses. Today, retail point of sale systems are light years ahead of
where they began. Today's POS systems are faster, more secure, and more reliable than their
predecessors, and allow retailers to operate every facet of their business with a single, integrated
point of sale system. (*[Link] July
28, 2009) A peer-to-peer network allows two or more PCs to pool their resources together.
Individual resources like disk drives, CD-ROM drives, and even printers are transformed into
shared, collective resources that are accessible from every PC. Unlike client-server networks,
where network information is stored on a centralized file server PC and made available to tens,
hundreds, or thousands client PCs, the information stored across peer-to-peer networks is
uniquely decentralized. Because peer-to-peer PCs have their own hard disk drives that are
accessible by all computers, each PC acts as both a client (information requestor) and a server
(information provider). (Leslie Duremdes,  2009) [Link]
5.
Point of Sale Software for general retail, small merchants, small businesses, grocery
stores and other types of retail businesses is cheap, powerful, and very easy to learn and use. It
helps you manage your business effectively and efficiently. It reduces your payroll overhead by
allowing your employees to concentrate more on the business of selling instead of capturing
sales. Complete tracking of clients, employees, inventory, sales, credits, payments, refunds,
returns, and purchases. Powerful reports that can show you instantly how your business is
performing.(Genn Calda, 2014) [Link]
 Related Studies
FOREIGN STUDIES
1.
Retail businesses nowadays have been using Point-of-Sale (POS) in their daily sales and
inventory. Managers can do better analyses about the business with POS integrated into the
operation. However, some retailers accept credit options as one way to sell their products.
Although POS application is one of the technological advancement in today’s businesses (Fiorito
et al., 2010), the recent application does not include monitoring of due dates. Proper management
to the industry that offers credits to customers is necessary. (Geraldine B. Mangmang) [Link]
2.
Today Businesses are retiring their traditional manual recording books and opting for state-of-
the-art POS systems that utilize the latest technology. Because Technology todays evolves in
fast-changing phase; technology now are used in many ways to aid the users and give edge
control to its perspective fields, in business field an Automated POS Inventory System has been
created (Nurs Olep)
[Link]

3.
For many small businesses, creating a captivating retail experience is the key to success, and
finding the right technologies to enable that experience is crucial for sustaining a competitive
advantage. This project is a case study designed to evaluate and select a Point of Sale (POS)
system and Inventory Management (IM) system for a small business based upon its specific
industry needs. The project creates a three step framework leading up to the real world
implementation of these systems and uses the Rhode Island based company - Wildwood Inc. - as
the subject of the study.(Bryant University by Mathew Cote)
[Link]

4.
According Krismiaji (2015), the information system is an organized way to collect, add, process,
and store the data so that the group / organization can achieve its objectives. According to
Laudon (2014), Information Systems is a set of interrelated components that collect, process,
store, and distribute information to assist in decision-making and business management.
(Krismiaji, 2015) [Link]
5.
Point of Sales or simply called POS, it can be defined as software that records sales transactions.
Before the POS system is developed, many people use a cash register, or even manually, to
manage their business. But the teller machine function itself is no longer sufficient, so that POS
has been developed (Krismiaji, 2015) [Link]

Local Studies
1.
Point of sale (POS) or checkout is the place where a transaction occurs in exchange for goods or
services. The point of sale often refers to the physical electronic cash register or dedicated POS
hardware used for checkout, but the POS is simply the location where the sale is conducted,
money changes hands and a receipt is given, which can also occur on a smartphone, tablet,
laptop, or mobile POS device when the right hardware and POS software is combined with the
mobile device. (Guil tiaw, 2013) [Link]

2.

Now we are experiencing the computer revolution as we see the effects of the computer on
transportation, economy, education, business, and even in our homes. Today, there is an
extensive use of computers in a various applications, a computation of bank statements, the use
of robotics machine to speed up some factory works, enrollment and grading system in school
and universities, networking and others. Man slowly realized the importance of computer to
speed up communication even in remote areas and as means of transferring data for business
needs. Computer can also store information in a mass storage device. It can recall information in
a speed of microseconds or even in nanoseconds. Therefore man can easily retrieved stored
information, change it and then store it again. (Emjay, 2013) [Link]

3.
Most of this day the business organizations are using latest technology to ease their transaction
and to improve their business process to another level. They are now applying computerized
systems to their transactions according to their needs.
Point of sale system is one of the most systems that are used of many businesses. It helps to
improve the process and to fasten the transaction with the customers. Point of sale system is
commonly used in fast food chain, pharmacy store, grocery store and some of the business that
needs to monitor their transactions, sales and financial status. (Natan Tienzo)
[Link]

4.
Technology has computerized outcome that has been a common part of the researchers’
everyday needs. For small businesses such as a mini-grocery, some use manual computation that
can consume considerable time and bring more hustle to their customer and workers. Point-of-
sale (POS) system is a computerized system that can be used in groceries to compute fast and
determine the prices quickly. (Joel Morales) [Link]
5.
A Point of Sale System is a enterprise solution primarily based on software program used to tune
sales pastime and inventory simultaneously. Manufacturers and outlets can both benefit from a
comprehensive answer the place single transaction entry records, quintessential client details,
purchased products; rate and date are also updated. The gadget would be of awesome assist to t
due to the fact it serves as many customers as possible at a speedy tempo and helps to screen all
kinds of data faster, less co conveniently. The Inventory Point of Sale System may be a computer
and additional dependable than physically. (Analyn Rubio Mendoza)
[Link]
ANOOS, JOHN CHRISTIAN D. CUMPIO, YOLYMAR M.
PROGRAMMER LEADER/RESEARCHER

FUENTES, MIGUEL SABANG, JOSHUA B.

ESPARZA, MARK JUDE

POS AND INVENTORY

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