Sales and purchase Essay Example | Topics and Well Written Essays - 1000 words

Sales and purchase - Essay ExampleThe input data that is required are item category, brand, quantity, cost, customer dilate (name, address, phone and birthday), mode of payment, mode of barter and special(a) scheme (e.g. discount). Once these data are entered into the system, it undergoes various processes before finally culminating in the delivery of the item. These processes throw out be broadly classified into six main areas2. The system then differentiates the mode of sale and categorising it into direct sale order or internet base order. This gives the management to make appropriate strategies and plans for their existing or emerging market.3. With category and brand specified, it then checks for the stock status so that in case of every shortfall, alternative brands can be suggested or sold. This information (category and brand) as well as help to market other products that may add value to the items asked for.4. The system then checks for both special offer or discount that the item might have at that particular time. This is an important process because the current market scenario has necessitated introduction of special schemes to attract customers in order to main their competitive edge. The ultimate schedule (discount) is one which maximises the suppliers resultant economic gain, but does so at absolutely no added cost to the buyer (Monahan, 1984).5. If the mode of payment is other than cash transaction, the system performs credit check for the customer and accordingly, informs and suggests the customer for alternatives for payment schedules.6. The system then confirms or refuses the sale/ purchase order and sends the same information on the terminal and generates invoice or sale/ purchase receipt. The completion of sales order is but the branch of many other requisites of the input information that are essential for the management of the company. The growth and the future prospects of the business depend on the input data as they are able to divulge vital information about the products and the customers. The sale processing data helps the management to disseminate information that can be categorise into the following output formats1. The input data helps to generate current inventory status so that the products that need fresh stocks can be ordered lots in advance.2. The data also helps the management to assess the order flow pattern of the products and services so that the management is able to take appropriate stairs in meeting the demands of their customer either by increasing the shopping hours or employing more staff to deal with the rush. This helps the management to maintain a noble level of customer satisfaction and general efficiency. This applies both to the days of the months and the specific hours of the day, during which there is marked difference in the sales and purchase pattern.3. The data also help in finding out the popular items which are sold or purchased as well as the brands that are preferred t hus service of process the firm to introduce items or products that add value to the ones that are already popular. 4. The management can also maintain its client base by devising efforts to