Computerized Cooperative Society Systems enable new kinds of applications and services. Corresponding visions stretch across virtually any domain of embedded systems and it is obvious that there lies a huge potential for economic, ecologic and societal improvements and success. However, to unlock this potential we first need to overcome diverse engineering challenges. Most importantly, we need to be able to ensure safety of such systems. Unfortunately, established safety assurance methods and standards do not live up to this task as they have been designed with closed deterministic systems in mind. This paper structures safety assurance challenges of cooperative automated systems and provides an overview and discussion on corresponding solution approaches.
As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Limitation of the study and Definition of technical terms.
1.2 Background of Study
A cooperative system is any machine, which can accept data and information presented to it in a prescribed from, carryout some operations on the input an supply the required results in a specified format as information. Cooperative society is the coming together of group of people for the purpose of improving their financial position or standings by pulling their resources together which would have been difficult or almost to achieve individual. Technology that was once beyond the reach of small business is now common in all places, giving rise to new breed of entrepreneurs who use the computer to produce new products and seek out to and capture new market due to:
- A high proportion of repetitive operations.
- To improve cash flow from sales of product.
The advent of computers has brought about invaluable achievement to means of life. Computers were able to achieve a lot in a very short period of time. The situation of computer being scarcely available in some years ago has now improved drastically as the cost of acquiring computer system has drastically reduced and has allowed thousands of personal computers. Computer technologies have contributed to business all over the world. Companies, banks, institutions and others now rely on computers to assist in virtually every aspect of commence. They are essential for efficiency and prompt responsiveness, so there is need for automation. Computerized cooperative society operations will make the expected benefits to be realized.
1.3 Statement of Problems
Investigation reveals the problems of the Computerized Cooperative Society System existing system which are stated as follows:
- Inadequate provision of security on records of the union.
- Insufficient attempt of misplacement of data.
- Poor data validation process of the existing system
- Inaccurate computation of withdraw of money.
However, even blocking the whole communication is a huge problem, since for wireless communication systems, jamming the communication channels does not require (direct) physical access and might reduce performance or prevent cooperation.
1.4 Aim and Objectives of Study
The main aim of the study is Design and Implementation of a Computerized Cooperative Society System which focus the various ways by which the use of computer can be of great benefit to the cooperative societies. In achieving this aim, the following specific objectives were laid out as follows to design and develop an application software that will:
- Provide adequate security on records of the union.
- Reduce any attempt of misplacement of data.
- Ease the problems of loan acquisition.
- Make data validation easier and faster
- Computerize the system that will ensure prompt and accurate withdraw of money.
1.5 Significance of Study
The following are the relevance of the research work which is stated as follows:
- Prompt and effective cooperative societies information management
- Reduction of stress involved in cross checking financial.
- Maintenance of a high level accuracy in the financial dealings of cooperative societies.
- Fast and reliable processing of in formations.
- Effective and prompt accessibility to members information without delay.
1.7 Scope of Study
The study focuses on the Design and Implementation of a Computerized Cooperative Society System using Ayedire Local Government staff cooperative Investment and credit union society as a case study. It is presently located in the premises of the Ayedire Local Government. The scope of the study will cover the process of computerizing all the transaction made by the above named union.
1.8 Limitations of the study
The limitations of the proposed system are:
- The proposed system will not cater for the payment of salaries of the staffs
- involved in the operation because we were not give any information pertaining to that.
- The proposed system will not determine that maximum period of loan repayment due to time constraint.
- The proposed system will not accept a divorce into the union because the personnel were not specific if there is divorce or not, it will only process for only married and single.
1.8 Definition of Terms
- Credit: Way of delayed payment of goods and service which allows for regular payment over a period of time.
- Loan: A sun of money issued to a person on credit with an accompanying duration of time for repayments to be done.
- Dividend: A share profits paid to member who own share in an organization.
- Thrift: It refers to a prudent economy that is, the habit o saving money and spending it carefully.
- Interest: A calculated sum of money with a given rate charged on load.
- Guarantor: A person who guarantees a loan.
- Savings: This is the monthly amount that member is keeping or saving in the society as his/ her assets.
- Shares: This is the mount contributed one to the society that qualifies him/her as a stake holder.