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Essay / Research Paper Abstract
This 13 page paper examines the potential results of information technology being implemented in a business. Using cause and effect the introduction of a computerised till system on a bar is considered in terms of the ability to increase control over stock, and the apparent lack of value that it adds to the bottom line. Each is discussed in full with reference to the relevant theory. The biography cites 9 sources.
13 pages (~225 words per page)
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Unformatted sample text from the term paper:
over the internet and the more visible aspects of technological application. However, technology may be seen as valuable at a more basic level, helping with the operations, adding value. When
considering cause and effect technology may add operational value, but in terms of the overall advantage and the ability the benefits may also be more limited. By looking at
cause an effect of a potential application the variant outcomes may be assessed. If we consider a restaurant or bar environment there is the reliance of stock levels, traditionally stock
would be ordered several times a week, in a process that could be labour intensive and with levels set with a safety margin so allow for errors. In a bar
or restaurant the level of stock can tie up a high level of working capital as well as require a large labour cost to assess and maintain, it is also
a potentially costly stock as inventory can be easily damaged. The introduction of a computerised till system in a bar allows for several advantages which are a direct result
of the introduction of the computerised system. If we look at this in terms of cause an effect we can start with thee increased control that is given over
the inventory. In many industries tools such as just in time inventory control are seen in vogue, but within a bar this would not be suitable, as such other methods
of inventory control need to be assessed. In businesses where there is the need to hold a large level of stock, especially where it may turnover at changeable rates
one of the methods that has proven to be useful in the past has been Economic Order Quantity (EOQ). This is model that has many advantages, but due to its