Design And Implementation Of A Computerized Price Determining System For Shop Wares

(A Case Study Of Roban Stores Enugu)

7 Chapters
|
41 Pages
|
3,652 Words
|

A computerized price determining system for shop wares represents a sophisticated tool that integrates data analysis, market trends, and inventory management to establish optimal pricing strategies for merchandise. Leveraging algorithms and historical sales data, this system assesses various factors such as demand elasticity, competitor pricing, seasonal variations, and cost fluctuations to set competitive yet profitable prices. By automating this process, retailers can streamline pricing decisions, enhance pricing accuracy, and adapt swiftly to market dynamics, thereby maximizing revenue potential and maintaining a competitive edge in the retail landscape.

ABSTRACT

This project is aimed at the computerization of the commercial operations of ROBAN STORES. It involves maintenance of stock control, updating of sales record and display of goods available for sale at the store. The report also highlight the process involved in the buying of goods and subsequent payment in cash of the goods demanded by the customers.
It is also intended to inform and guide customers and the general public on the kind of services offered by ROBAN STORES as regards their commercial operations, goods and stock available for sale and the benefit and preferential treatments given to the customers who buy goods in bulk or in large quantities.
For efficiency and effectiveness of the system, the method of data collection are:- Interview method and personal observation.
Moreover, Q-basic was specifically chosen for the coding and exclusion of this report because it allows for interaction between the main proportion and their subprograms.

 

TABLE OF CONTENT

Cover page
Title page
Certification
Dedication
Acknowledgement
Abstract
Table of contents

CHAPTER ONE
Introduction
1.1 Background of the study
1.2 Statement of the problem
1.3 Purpose of the study
1.4 Aims and objectives of the study
1.5 Scope of the problem
1.6 Limitations of the study
1.7 Assumptions
1.8 Definition of terms

CHAPTER TWO
LITERATURE REVIEW

CHAPTER THREE
DESCRIPTION AND ANALYSIS OF EXISTING SYSTEM
3.1 General description of the existing system
3.2 Methods of data collection used
3.3 Objectives of the existing system
3.4 Organizational structure
3.5 Input, process and output analysis
3.6 Information flow diagram
3.7 Problem of the existing system
3.8 Justification of the existing system

CHAPTER FOUR
DESCRIPTION OF THE NEW SYSTEM
4.1 Output specification and design
4.2 File design
4.3 Procedure chart
4.4 System flow out
4.5 System requirement

CHAPTER FIVE
IMPLEMENTATION
5.1 Program design
5.2 Program flow chart
5.3 Pseudo codes
5.4 Sources program costing
5.5 Test run

CHAPTER SIX
DOCUMENTATION
6.1 System documentation
6.2 Program documentation
6.3 User documentation

CHAPTER SEVEN
CONCLUSION AND RECOMMENDATION
7.1 Conclusion
7.2 Recommendation
7.3 Bibliography

 

 

CHAPTER ONE

INTRODUCTION
With the write of their great capacity and speed, computers have been extremely effective in processing massive quantities of accounting transactions and producing essential documents and reports. It is no wonder, insecure, that many managers, planners administrators, educationists, researchers, chief executives and business men now feel an urgent need for computer in their respective organization. In the save view, the objectives of this project is to incorporate computer into the processing of information at ROBAN STORES. 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.

1.2 STATEMENT OF THE PROBLEM
In every organization (ROBAN STORES) encounter numerous problems, which include keeping goods, maintaining, checking and having goods account records for gods in stock.
Despite the good maintenance in the manual stock control system at ROBAN STORES, there will arise great inefficiency in its accounting system, as well as its record updating system.
However, the main aim of this study is to incorporate computer into the daily operations of the store with reference to mainly it’s accounting system, as well as its stock control system and its day to day commercial operations.
With introduction and application of computer into the operations of the STORE the organization will be able to improve dramatically on its daily information and accounting system.
The above problems discovered therefore prompted to a software design to be able to add to existing stock and delete goods in stock collectively refered to as updating, as well as producing an accurate accounting system for the STORE.

1.3 PURPOSE OF THE STUDY
The purpose of this study is to design and implement a system that will eliminate the above problems such as misplacement of rital information, documents, records, duplications of efforts etc, and a lot of time is wasted or taking when locating and processing of vital files.

1.4 OBJECTIVES OF THE STUDY
The aims and objectives of this project report is to study how the organization (ROBAN STORES) operational aims and other activities and how they are executed.
In areas of misplacement of vital documents a computer will be used to record, store, retrieval of large volume of documents; which will reduce the duplications efforts due to in-accuracy in activities and time taken in locating of files when it is required for processing.

1.5 SCOPE OF THE PROBLEM
The researcher is limited to the study of computerized price determing system (ROBAN STORES, ENUGU)
The study is also limited to the limitation that is being acquired from (ROBAN STORES, ENUGU), more information were gathered from the write-ups of the existing system of back-up the study and design of the new system.

1.6 LIMITATION OF THE STUDY
One to lack of time and resources, the study is limited to certain area concerning problems being encountered and gathering of information’s on how goods are being sold, or kept and how to process them using a computer.

1.7 ASSUMPTION
This research was carried out with the assumption of the combusting that might arise in tackling stocks problem and computation inefficiencies.
For this purpose, the assumption reached was to design and implement a price determining software package that will eliminate and arrest any difficulties that involved in manual computation.

1.8 DEFINITION OF TERMS
ALOGORITHM: – A logical of instructions, which are carried out in a fixed order to find the solution to a problem.
COMPITER: A system software package that converts a problem oriented language to the language a computer understands.
COMPUTER: An electronic data processing machine which can store and process information at very high speeds.
COMPUTERIZATIONS: The use of computer to control an operation or system.
DATA: These are units of observation which do not curvy any meaning
DOS: An operating system that uses disk devices for permanent storage.
FLOWCHART: A diagram in which particular shapes and connecting lines are used for showing how each particular action in a system is connected with one another.
INFORMATION: Consists of facts resulting from processed data, providing knowledge relating to events or situation.
PASSWORD: A secret word, which one has to know before he can access to a particular system.
PROGRAM: Set of instruction, which is used to solve a problem.
SOFTWARE PACKAGE: A phrase used to define one or more programs or set of instructions.

 

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Computerized Price Determining System For Shop Wares:

A computerized price determining system for shop wares is a software-based solution designed to automate and streamline the process of setting prices for products in a retail store or e-commerce business. Such a system can help store owners and managers make informed pricing decisions, optimize pricing strategies, and enhance overall profitability. Here are key components and features of such a system:

  1. Inventory Management: The system should maintain a comprehensive database of all products in stock, including product descriptions, SKU numbers, supplier information, and current stock levels.
  2. Historical Sales Data: It should capture and analyze historical sales data, including sales volume, revenue, and profitability for each product.
  3. Market Research Integration: Integration with market research data sources to gather information on competitor pricing, demand trends, and market conditions. This data can be used to inform pricing decisions.
  4. Cost Analysis: The system should consider the cost of goods sold (COGS), which includes factors like purchase price, shipping, and handling costs, to determine the baseline price for each product.
  5. Markup Strategies: Support for various pricing strategies such as cost-plus pricing, dynamic pricing, keystone pricing, and psychological pricing.
  6. Seasonal and Promotional Pricing: Ability to set seasonal and promotional prices, with automated start and end dates.
  7. Profit Margin Optimization: Algorithms that calculate and suggest optimal pricing to maximize profit margins while staying competitive.
  8. Competitor Price Tracking: Real-time or periodic monitoring of competitors’ prices and automatic adjustment of prices to stay competitive.
  9. Price Tiers and Discounts: The ability to define price tiers for different customer segments (e.g., wholesale vs. retail) and apply discounts or markups accordingly.
  10. Integration with Sales Channels: Seamless integration with various sales channels (physical stores, e-commerce platforms, etc.) to ensure consistent pricing across all channels.
  11. Dynamic Pricing: Implement dynamic pricing strategies that adjust prices based on factors like demand, inventory levels, and competitor pricing.
  12. Price Change Approval Workflow: For larger organizations, a system that includes an approval workflow for price changes to ensure consistency and oversight.
  13. Reporting and Analytics: Robust reporting and analytics tools to track the effectiveness of pricing strategies, monitor sales performance, and identify trends.
  14. User Access Control: Role-based access control to ensure that only authorized personnel can make pricing changes.
  15. Data Security and Compliance: Strong data security measures and compliance with relevant data protection regulations to protect sensitive pricing data.
  16. Integration with POS Systems: Integration with point-of-sale (POS) systems for real-time pricing updates at physical stores.
  17. Feedback Mechanism: Mechanisms for collecting customer feedback on pricing and product value to inform future pricing decisions.
  18. Price Optimization Algorithms: Advanced algorithms that can adjust prices dynamically based on real-time data and market conditions.
  19. Scalability: The system should be scalable to accommodate a growing product catalog and increasing sales volume.

Implementing a computerized price determining system can help businesses optimize their pricing strategies, improve competitiveness, and ultimately increase profitability. It’s important to choose a system that aligns with your specific business needs and can be customized to suit your pricing strategy.