The Process of How to Identify and Implement an Inventory System in an SME

Abstract

This thesis aims to identify how to implement an inventory management system that would benefit a small, start-up company. Research has shown that most startup companies neglect important business aspects such as inventory system development due to lack of time, training and fund. The main question sought to recognize what kind of inventorymanagement system would be beneficial, given the size and needs of the company?Several sub questions then developed to format a conclusion to the main question. Researchers for this project developed surveys, questionnaires, staff training and discussion forums as well as an educational PowerPoint. Key results indicated that the staff would benefit from educational training on inventory systems. It was also determined that a QuickBooks template was the best option. The template uses an Excel spreadsheet that is widely used in businesses. Additionally, it is able to automate formulas and inventory count with the use of a barcode scanner. While the CEO asked that the system include as many features and capture as much information as possible, based on the skillset of the staff, it was determined that a more complex system would be costly and not likely be used to its fullest capacity.