The effect of technology implementation on inventory management and accounting system
The effect of technology implementation on inventory management and accounting system

Summary/Abstract: The purpose of this paper is to show how specific technologies can contribute to the system of inventory management, i.e. to identification, coding and tracking. The introduction of an appropriate inventory management system can positively influence the cost reduction of not only stocks, but also labor that manages inventory, which would further significantly simplify accounting procedures and facilitate the accounting of stock. Some of the systems and technologies that can be employed for such purposes have long been used.The wide applicability of RFID technology has affected the multiple cost reduction and work processes optimization. A prerequisite for using this kind of technology is the establishment of both an appropriate supplies encryption system, and an acceptable accounting system.

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