Stage 2_Requirement Specifications - 1 Running Head Stage 2 Requirements Specification Stage 2 Requirements Specification UMUC IFSM 461 Stage 2

Stage 2_Requirement Specifications - 1 Running Head...

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1 Running Head: Stage 2: Requirements Specification Stage 2: Requirements Specification UMUC IFSM 461
Stage 2: Requirements Specification 2BackgroundPrecision Electronic Parts (PEP) is a small electronics company in Kansas that manufactures a variety of precision electronic components and replacement parts for medical equipment used in medical facilities. Recently they added custom low voltage motors which reduced electricity costs while making older equipment more environmentally friendly. Following that success, PEP decided to build and design a new line of motors to use in precision equipment outside of the healthcare industry, which cause a huge increase in orders and required an expansion in the manufacturing department and the sales and marketing teams.While other departments have expanded to accommodate the increase in sales the Ordering & Shipping, Inventory Management and the Finance Departments have remained the same which has caused a significate amount of strain as they try to keep the business processes moving. However, the Finance Department is currently falling behind on invoice, billing and payment processes causing the Business Administration Department to step in to keep the billing processes up to date. PEP new system will replace the current customer billing processes and will be able to handle their ever growing amount of billing and payment transactions and inventory tracking while being able to interface with other IT systems and updated business processes.I.Functional Requirements PEP currently has a monthly reporting schedule for every division, these reports include invoicing, sales, payments and collections but PEP wants a better way to stay up to date. They require real-time reporting of sales, invoicing and collections. Below are the functional requirements for the new system, it will identify what information needs to be inputted into the system, how the information will be processed and what information canbe retrieved from the system

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