Smart Management Scheme for the Efficient Control of Industrial Inventory

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.