This project is an online stock management database system which will assist a stock exchange organization to improving and enhancing service offered and makes available important information to customers. It also an efficient online system compared to paper-based system which does not allow for perfect records keeping, disseminating and updating of information on a regular basis. Online stock management system database system is a system that should be incorporated in the operation of organizations that deals with stocks because dissemination of information is of paramount importance and faster for customers’ usage. The programming aspect of this project is powered by ASP.NET and MySQL at the back end to support the database for storage and convenient access to database information in an online stock management database system. This project has been able to develop a multi-user an online stock management database system which has been tested and found to be compatible and accessible by renowned web browsers.
- BACKGROUND OF THE STUDY
Primarily, a stock market is the place where companies can raise money to make their businesses bigger and better. Companies raise money by selling shares or stocks to investors. At the same time, the stock market gives investors an opportunity to invest in these companies and benefit from any profit they can make.
A stock market can also be called a capital or securities market as it encompasses the stock exchange, the branches, and the stockbrokers. An organized securities market requires a securities exchange, a securities commission or other regulatory agency, and intermediaries such as dealers, brokers, securities analysts, etc. Virtually all costs are borne by those who benefit. The intermediaries receive their fees from the issuers or investors to whom they provide a service. The stock market is usually funded through fees paid by investors and issuers; even the expenses of the securities commission may be partially paid for by registration fees rather than being a major burden on the government budget.
Companies which go public are subjected to continuous cost of providing financial information, transferring shares, paying dividends, and other aspects of shareholder relations (Adam, J.A., 2011). The stock market is the aspect of the financial system which mobilizes and channels long term funds for economic growth. The stock market embraces trading in both new issues (primary) and old issues of stocks (secondary). Securities are primarily of two types: debt and equity. The business function of Stock management is concerned with the planning, promotion, and sale of existing products in the existing markets and development of new products and new markets to better serve present and potential customers (Ndi, O. O., 2009).
Today Stock management system performs a vital function in the operation of a business enterprises i.e. (as the primary interface between the manufacturer and the customer) (Demetriades, P. 2010). Stock management system function in business has become a much difficult assignment because of the dynamic environment of today’s activities which includes: Rapidly changing market demands, Steadily increasing consumers pressure, Proliferation of new products, Intensified competition, Growing government regulations.
Business firms have increasingly turned to the computer to help them perform the vital stock management functions in the face of the rapid changes of today’s environment. Computer, therefore, because of its speed, memory capacity, versatility and accuracy, has been the catalyst in the development of stock management system, which integrate the information flow required by the many stock activities. Computer is also used to make business decision involving millions of naira and so saves man from a tremendous amount of time consuming work. Oyejide, T. (2014).
Today computer is used as a control system for controlling stock management costs, diagnosis of poor sales performance. Nevertheless, computer is also used as research system for advertising strategy, pricing strategy and evaluation of advertising expenditure and continuous experiment.
Stock Exchange is a form of investment that attempts to achieve a mixture of income and capital growth, it deals with an institutional arrangement involving the Securities and Exchange Commission (SEC), the Nigerian Stock Exchange (NSE), the operators, and the investors. Stock market is viewed as a medium to encourage saving, help channel savings into productive investment, and improve the efficiency and productivity of investment. The emphasis on the growth of stock markets for domestic resource mobilization has also been strengthened by the need to attract foreign capital in non- debt creating forms.
Stock Management System (SMS) is a software application to be developed to manage most of the activities or tasks running of a stock exchange. This system is divided to three main modules that is cashier and stock management, supplier information management and generating report, fingerprint authentication and staff management (Buckberg, G. 2009).
Stock management will manage stock information by generating barcode and tracing stock availability (Afees, A.S., &Kazeem, B.A. 2010). The design of cashier functionality will refer to the existing system to meet the requirements of the shop to handle business transaction and some enhancement will apply in this project such as the interface and the components design (Bassey, J.U. 2009). For the stock management, SMS will provide the barcode system to identify each type of stock and the barcode will be generated by the SMS itself (Ndi, O. 2009).
1.2 STATEMENT OF THE PROBLEM
In the NSE, many methods and technical analyses and forcasting have been developed and are being used. The large volume of stock coupled with the vast distribution of work creates some control and management problems.
Investors getting abused by capital market operators, such as stockbrokers, registrar, issuing houses and fund managers.
The operation of the NSE presently lacking some degree of information retrieval facilities. So, obtaining, storing and updating information on each of the items is not an easy task. It takes hours and at times, days, to locate any information acquired due to the volume of files involved.
For reliability issue, SMS authenticated user will able to modify the stock information as needed such as pricing, discounting rate or editing other information. Stock information included important information such as pricing, quantity, discount, description and others to act as the reference for the user on management. ( Oyejide, T. 2014).
1.3 AIM OF THE STUDY
The aim of the study is to design and implementation of stock management system, a case study of stock exchange in Nigeria.
- OBJECTIVES OF THE STUDY
The objectives of study are as follows;
- To introduce new system and procedure to be employed by the management of NSE in productivity in the stock management department.
- To keep track records of available items when needed, its re-order, and to indicate the stocks that are not selling in order not to waste investors time in keeping stock of the quantity of good purchases, sold, and produced.
- To find solution to the misinformation of the flow of data between the stock management procedure and decision, by introducing a computer stock management system which will reduce the misinformation, be faster, accurate, reliable and improve output report that will help the management in her plans and decision making.
- SCOPE OF THE STUDY
The study is attempted to analyse the stock management system concept of the NSE and the ways of improving its effectiveness with the aid of computer.
The study is limited to NSE depot with research from the Stock Report department.
1.6 LIMITATIONS OF THE STUDY
Some problems crop up in the course of carrying out the research. These are:
- financial constraint
- time factor
- Insufficient information from the Stock Marketing Report Department.
1.7 SIGNIFICANCE OF THE STUDY
This study will help stock brokers and managers on how to use the new system for stock management procedure and decision, by introducing a computer stock management system which will reduce the misinformation, be faster, accurate, reliable and improve output report that will help the management in her plans and decision making. it will enhance investors interest on how to indicate the product that are not selling in order not to waste money in keeping stock of the quantity of goods purchases, sold, and produced. This study will also be use as study material for students and other people interested in NSE or Stock Management issues.
1.8 OPERATIONAL DEFINITION OF TERMS
NSE: Nigerian Stock Exchange
STOCK: A store of goods etc. ready for sale or distribution etc.
EXCHANGE: The act or an instance of giving one thing and receiving another in its place. In another words, the giving of money for its equivalent in the money of the same or another country.
MANAGEMENT: This is the interlocking functions of creating corporate policy and organizing planning, controlling, and directing an organization’s resources in order to achieve the objectives of that policy.
SHAREHOLDER: A shareholder is an individual or institution (including a corporation) that legally owns a share of stock in a public or private corporation.
SHARES: One of the equal parts into which a company’s capital is divided, entitling the holder to a proportion of the profits.
SYSTEM: A set of principles or procedures according to which something is done; an organized scheme or method.