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Discount Rate In Manufacturing Company

Electrical Electronics Engineering | Industrial Physics | Engineering

In the context of a manufacturing company, the discount rate plays a crucial role in evaluating investment opportunities and determining the present value of future cash flows. This rate, often referred to as the cost of capital, encompasses various factors such as the company’s cost of debt, cost of equity, and the risk associated with the investment. By utilizing an appropriate discount rate, companies can assess the feasibility of capital projects, make informed decisions regarding resource allocation, and gauge the potential return on investment. Factors influencing the discount rate in a manufacturing setting may include market conditions, industry trends, inflation rates, and the company’s financial stability. Efficiently managing the discount rate is imperative for ensuring sustainable growth, profitability, and competitiveness in the dynamic landscape of the manufacturing sector.

ABSTRACT

The basic aim of this project is to provide a simplified method of discount rate for manufacturing company using Mount Olive Company as a case study. Due to the rapid improvement in modern science and technology in ratifications of life there is need for the management of the company to apply computer in their transaction of the discount rate to make a quick decision with the existing method due to this difficulties. This project is designed to take care of the difficulties, and this program is written in Visual Basic programming (6.0) language which creates database file that will keep all the transaction information when any action is been taken.

TABLE OF CONTENT

Title page i

Certification ii

Dedication iii

Acknowledgement iv

Abstract v

Table of content vi

CHAPTER ONE

General Introduction 1

Background to the Study 1

Statement of the Problem 3
Aims and Objectives 3
Significance of the Study 4

1.5 Scope of the Study 5

1.6 Organization of the Report 6

CHAPTER TWO

Literature review 8

CHAPTER THREE

Methodology and Analysis of the System 12

3.1 Research Methodology 12

3.2 analysis of the Existing System 13

3.3 Problems of the Existing System 14

3.4 Description of the Proposed System 15

3.5 Advantages of the Proposed System 16

CHAPTER FOUR

4.0 Design and Implementation of the System 18

4.1 System Design. 18

4.1.1 Output Design 21

4.1.2 Input Design 23

4.1.3 Database design 24

4.1.4 Procedure design 27

4.2. Implementation of the system 29

4.2.1 Choice of programming language 31

4.2.3 Software requirements 32

4.3.1 Program documentation 33

4.3.2 Operating the system 33

4.3.3 Maintaining the system 34

CHAPTER FIVE

Conclusion and recommendations

5.1 Summary 35

5.2 Conclusion 36

5.3 Recommendations 37

Reference 39

Appendices

System Flowchart
Program Flowchart
Source Listings
Computer Output

CHAPTER ONE

GENERAL INTRODUCTION

BACKGROUND TO THE STUDY

Computer is an electronic device which has been accredited as a powerful tools for solving sonic human problems in a faster and sometimes, cheaper way. This project considered the significance and uses of computer in sales and discount rate analysis.Computer needs less human interventions, as it very accurate, informative in sales, and accounts can be stored on it for a very long time.Most problems involves some data or information upon which some actions are required in order to obtain some desire results, thus 3 main phrase can be identify in solving problems with computer by applying computer to Mount Olive Company. It will be automated their job and as well as disable unauthorized person to have access to their information or accounts.

Manufacturing company is a production company whereby they produce different kinds of goods and services for general public use industry computerizing the discount rate of Mount Olive company is to introduce tools that will make their transaction to be perfect and error free.

Introduction of computer application to Mount Olive Company is to help their efficiency areas of sales and expenses on transaction.Discount rate is the reduction of total amount to be paid on a particular commodity, in order to increase the demand of that particular commodity.With the computerization of Mount olive company quality and quantity product will be produced, the production will be very efficient and accurate.Error that may be associated with manual record keeping such as; inconsistency in calculating, datamismatch, record data will be eliminated and increase rate of process, provide proper and maximum security will be used by providing users password.and this program is written in Visual Basic programming (6.0) language which creates database file that will keep all the transaction information when any action is been taken.

1.2 STATEMENT OF THE PROBLEM

PROBLEMS OF THE EXISTING SYSTEM

I gone through the computation procedure of the discount rate, we may find it simple clear and easy to do manually, but when the works becomes voluminous, a large number of problems occurs. This project is therefore design to eradicate these problems which some of them are listed below:

Inaccuracy
Slow preparation of report
Unauthorized access to information
Destruction of files and valuable information
Movement of file

1.3 AIMS AND OBJECTIVES

The aims and objectives of the computerization of discount rate Mount Olive Company is to minimize error that may be associated with manual record keeping such as inconsistency in calculating and data mitmatch.

This is design to improved management control and increase rate of process, provide proper and maximum security by using user password such as special word like Alphabetic, Alphanumeric Numeric data to represent key, this will also grant proper security for manipulating the program.

Also entails the use of programming language in tabulating and processing of the company activities to design user’s friendly program, proper documentation, easy to debug and also to provide quality, accurate and efficient in nature. It may be upgraded at any time when it is necessary.

The entire manual problem will be provided with solutions, the program contains a form for user to process their data and also code for execution.

SIGINIFICANCEOF THE STUDY

In order to tackle the problem of wrong calculation, inability to keep costumers record at a time without miscalculation and wrong working, the entire process of Mount Olive Company need to be fully and properly computerized to maximize profit, minimize the cost of production and satisfy the wants of the customers.

In addition, this research work serve as guild line to other readers who may refer to it at any point in time when gathering full details on the procedure and problems of computerization of discount rate in manufacturing company.

This research will also expose the researcher to the practical aspect of discount rate which eventually the researcher will make used of it later in future.

SCOPE OF THE STUDY

The scope of the study is within the marketing and department of Mount Olive Company.

Discount plays an important role in Mount Olive Company by increasing the numbers of customers; increase the level of product demand and also by advertising, promoting publizing and of course marketing the company product.Discount can also be used to introduce new product in order to retain the existing customers or to derive growth for the company.During the course of investigation on computerizing the discount rate is to process the discount faster without may miscalculation and wrong working for many customers at a time.Also computer application in this field will facilitate easy working environment and also provide the necessary information accurately and timely.This project is limited to discount processing transaction and customers record keeping which means it cannot be used in any other department expect marketing/sale department and so it cannot be access on line.

1.6 ORGANIZATION OF THE REPORT

This project work on computerization discount rate in a manufacturing company, a case study of Mount Olive Company. The project is divided into five chapters, in order to simply and to aid the understanding of the project.

The chapter one of this project provides a general introduction on how computer is used in calculating discount rate in a manufacturing company, also included in this chapter are aims and objectives, significance of study, scope of the study, organization report and definition of major operational terms used.

Chapter two deals with the literature review and also basic computer concept.

Chapter three of this project explained the method of data collection (i.e. methodology), analysis of data and the existing system, description of the proposed system and the design and implementation methodologies.

Chapter four contains the design of the proposed system, output design, input design, database and procedure design, also in this chapter we have the implementation, the hardware support, the software support, the documentation, the program documentation, the operating of the system.

While the chapter five includes the brief summary of work done, experience gained problem encountered conclusion as well as the suggestions for future review research.

CHAPTER FIVE

CONCLUSION AND RECOMMENDATIONS

5.1 SUMMARY

These project focus its attention on the discount rate in Mount Olive Company. It deals with the application of computer of the discount in manufacturing company. By doing this, it has proved that all manufacturing company can be well computerized.

It has also established the fact that operations of any manufacturing, organization no matter how complex it is, it can be transformed from manual approach to a computerized format. Hence this project emphasize on making computer to solve many major problems relating to discount rate.

Moreover, it deals with how computer can be used to overcome the manual method. The input data was used to test the application of comparer in calculation of discount in a manufacturing company.

Finally, this is used to show that our new system is effective against the manual system.

5.2 CONCLUSION

In conclusion this project has provided a solution for the manual method by computerizing discount in Mount Olive Company.

This project eliminate the errors that may be associated with manual operation, record keeping such as inconsistency in calculating, data mismatch and provide proper and maximum security by using user’s name and password.

It also entails the uses of programming language in tabulating and processing of the company activities by using visual basic program (6.0) to design user friendly program, proper documentation, easy to debug and efficiency in nature.

This program written in visual basic can also be upgrade or updated anytime when necessary.

5.3 RECOMMENDATIONS

Based on our findings in the course of this study, we can make the following recommendation:-

That computerized system should be used in company handle all operations
They should be enough storage medium, backup system and storage put in place while the computer system itself should be kept in a cool and clean room with regulating conditioner, acting in response to the action of the heal produced the main element (computer).
Also, the full implementation of computer system in all Mount Olive Company will minimize the manual system approach problems.

Moreover, the following maintenance is also recommended for Mount Olive Company in order to ensure good, efficiency and utilization of resources in their company.

To ensure that the functions effectively and efficiently , unauthorized users should not be allowed to temper with the system.

There should be prevention of power out breakdown, it is definite that the above stated maintenance rules are adhered to the system, and there will be normal and efficiency in the company operation.