Proposed research on the mechanism of Inventory Precision

The huge data generated by the wholesalers and the distributors have a large impact on the market in which they exist. The data generated by them if analyzed efficiently can lead to quality usage of resources. By quality usage of resources we mean minimal wastage of resources here. Taking the power of inventory precision we can produce goods and services in a very planned and efficient manner leading to minimum loss experienced by the firm. For this the concepts of inventory precision are being used under the data analytical algorithms to develop our inventory management system. The formation of the database consists of SQLLite3. The advantage of using Python is that it provides a rich library support for carrying out mathematical processes and mostly it provides a scope for executing analytical algorithms on huge quantity of data. Also Django the web framework of Python makes it easier to produce web applications which benefits the field of e-commerce.