Current Event Paper - Assignment Example

Inventory Management Insert Insert Inventory is goods or goods quantity that is the store for a particular use or purpose. Inventory management is a program or actively controlled software which permits the sales payments and purchase management. This software creates purchase orders, invoice, and receipts for payments and can comfortably print the bar codes. When configurations of the inventory management are complete in a company or business, revenue generation is easy. Better understanding and operation costs are also in control by inventory management application.

In any business inventory is a vital aspect of operations both to the owner and to the potential customer. Repairs and maintenance, raw materials, merchandise, finished goods are various examples of inventory. A medical centre in the University of Maryland has initiation on the use of fingerprint scanners and pseudo codes for drug delivery by mobile controlled robot. This comes after a risk of drug and narcotics theft and mishandling cases in the world hospitals has become a topic of discussion.

High-tech solution has a consideration of radio frequency on tag identification and password initiation in the dispensing machines. Robotic prescription delivery software is in the application that monitors any suspicions. This helps the medics, nurses and patients as it has a tracking for errant medications and can make full calculations and corrections (Landro, 2014). This medication programme has a close relation to the inventory management. It has full reflection of inventory management function, in helping and decoupling operations in hospitals, and protection against medical thefts.

Encompassing of list is on point in this article, and password- protected operation and robotics signify full inventory control.Article URL: http://online.wsj.com/news/articles/SB10001424052702304104504579377283066012564?KEYWORDS=article+on+inventory+management&mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304104504579377283066012564.html%3FKEYWORDS%3Darticle%2Bon%2Binventory%2BmanagementReferencesLandro, L. (2014). Hospitals Address a Drug Problem:Software and Robots Help Secure and Monitor Medications.

The Wall Street Journal , 3.