...Kudler Fine Foods Business Analysis Karen D Glover BSA 310 April 15, 2012 Joseph Rezendes Kudler Fine Foods Business Analysis Kathy Kudler, the founder of Kudler Fine Foods (KFF) has a primary goal in establishing a retail food store that provides a selection of gourmet foods in order to meet the needs of the typical consumer, all within one store. Kudler’s mission statement is clear;”provide our customers the finest in selected foodstuffs, wines and related needs in the unparalleled consumer environment.”(Kudler Fine Foods Mission Statement, University of Phoenix Virtual Organization Portals, 2008) With the wide variety of foods is offered at Kudler Fine Foods, the different departments include gourmet baked goods, dairy, gourmet cheese, and wine, organic, non-organic produce sections, fresh meats, and seafood. In addition, within the three retail locations, KFF offers cooking classes along with monthly cheese and wine customer appreciation classes. Some of these services will be expanded into the private residence sector. Adding to their list of offered services, KFF has just added a new catering service in an attempt to attract new customers, as well as, increasing revenue from their existing customer base. There have been some recent operational changes at Kudler that will be advantageous to the success of their stores. Kudler is able to increase their profitability by using operational strategies, such as, establishing contracts with local producers of organic produce...
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...able to assist customers. The founder, Kathy Kudler developed a business plan and obtained a financing and was able to open a store all within a six month time a turn that business into a profitable business in the first year. Over the next five years 2 more stores were opened and continuing to thrive. In order to continue growing Kudler’s is evaluating their accounting information system needs and determine if there are changes that can be made to improve their systems with either system changes or technology upgrades, as well as identify an potential technology threats that may need to be addressed. Identify Kudler’s Key business and Accounting Information Needs Kathy Kudler and her management team understand the benefits of a system that would meet the needs of this business and help to continue to thrive. Kudler’s computer system will be used to integrate their point of sale (POS) systems along with their asset management and accounting, accounts payable modules, general ledger, bank reconciliations, and lastly one of the most important systems the security systems. “The initial business plan for Kudler’s included funds in excess of $50,000 to hire a consulting firm to assist in the selection and installation of a comprehensive Retail Enterprise Management System (REMS)” (University of Phoenix, n.d., para 1). Smith Systems Consulting was awarded the contract and made recommendations based on Kudler’s needs, with a system that would meet those needs. They also maintained...
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...Group, Inc., (2010), Kudler Fine Foods has an assortment of local and international food and beverages including items such as seafood, produce, condiments, meat, dairy products, bakery, packaged foods, wine, and cheese. Kudler Fine Foods hires Seeley’s Firm to evaluate Kudler’s accounting and information technology systems. Seeley’s Firm will report Kudler’s business and accounting needs, current hardware and software, strengths and weaknesses of current computer system, investigate prospects to improve the technology use, assess risks concerning the current computer system, and recommendations to improve Kudler’s ability to manage business. Business and Accounting Needs Concerning Kudler’s over-all business and accounting needs, the general needs are human resources, maintenance, sales, information technology marketing, consumer relations, communications, and advertising. Kudler’s accounting needs is inventory, purchasing, security, payroll, general ledger, bank reconciliations, accounts payable, point of service transactions, capital assets, and accounts receivable. It is essential that Kudler Fine Foods needs are met in a cost effective way to remain to offer the best in specialty foods to Kudler’s current and future consumer base. Seeley’s Firm needs to investigate the current computer system that Kudler is using to meet the current and future consumer satisfaction that Kudler wants. Current Hardware and Software Kudler currently uses a modular and scalable retail...
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...time and money as well as reducing inaccuracies inherent in the manual ordering process. Current Ordering System Currently, there is no central purchasing department for the string of three stores. It is the responsibility of each of the three department managers within each store to determine requirements for the items in their departments and to place purchase orders directly with suppliers (Apollo Group, Inc., 2011). The department managers are required to fill out a standard, manual purchase order form for each order as well as receive and manually verify each shipment as it comes in. To place an order, these forms must be mailed, faxed, e-mailed, or even handed to suppliers (Apollo Group, Inc., 2011). These forms then become the primary tracking and financial documents for all merchandise orders (Apollo Group, Inc., 2011). This vast amount of paperwork must be maintained and stored in the accounting department to ensure vendors are paid. Another hurdle exists in that each department manager is independently responsible for obtaining the best pricing, quality, and delivery possible (Apollo Group, Inc., 2011). Each of the department managers is encouraged to check with his or her counterparts within the other stores to see how their pricing, quality, and delivery schedules stack up (Apollo Group, Inc., 2011). From Kudler’s standpoint, this can lead to inconsistent pricing...
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...Computer Systems Brief By Adam Copen July 2, 2012 ACC/542 Kudler’s Fine Foods is a place that sells wine, cheese, meats, seafood, produce and [in academic writing, if this is a series, place a comma before the final conjunction (and)] [Insert a comma before this word if this is the last in a list of more than two -- or if it begins a new clause] was a [Use "an"] European style bakery. Kudler’s Fine Foods has three locations in the San Diego, California [insert comma] area. Kudler’s Fine Foods was founded [The passive voice is a form of "be" (was) and a participle (founded). Over-use of the passive voice can make paragraphs officious and tedious to read. Prefer the active voice. For example, passive voice = The paper was completed on time. Active voice = the student completed the paper on time. See Center for Writing Excellence > Tutorials & Guides > Grammar & Writing Guides > Active & passive voice] by Kathy Kudler back in 1998. In this paper, four ideas will be addressed. The first on is to find out ["find out" is a "phrasal verb," two words that together mean something different from their individual meanings--looking up each word in the dictionary would not produce the meaning, which could cause misinterpretation in an international business communication. Use other words, like "discover" or simply "found"] what Kudler Fine Foods key business and accounting information needs are. The second is to analyze what strengths and weakness [Misspelling--The...
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...items such as, baked goods, meats, seafood’s, produce, cheese, dairy, etc. Kudler’s food establishment always sells their food fresh to better please their customer’s daily. Kudler’s main objective is to “improve the efficiency of its operation and increase customer service.” (Shaikh, 2009). Marketing research is a vital part of the business world. The marketing research for Kudler Fine Foods will be discussing the tactics and strategies they use and try to find areas that might need additional market research as well. The marketing operations for Kulder Fine Foods has had their flaws but, they wanted to focus on increasing their revenue and services to better improve the company. Kudler needed to increase the business so, the company needed to start small and work their way up. Kudler first started by hosting house parties for the purpose of allowing a wide variety of people to taste Kudler’s variations of foods as well as allowing the customers to be hands on and learning how to prepare the foods. This will allow Kudler’s to have a personal bond with the customer to make them feel more comfortable with what they are eating as well as broaden Kudler’s customer intake. Kudler’s would like to go a step further and move up on the scale to bring in well-qualified cooks/chiefs and guest celebrities to help boost sales at their stores. The guest appearances will help with the promotion aspect of the business, which will inevitably draw new customers to the stores. The end result will...
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...Kudler Fine Foods Operations Focus This paper will define how Kudler Fine Foods can benefit from Internet purchasing and how this new system and process will be implemented. This paper begins by analyzing Kudler’s current purchasing processes and systems and makes recommendations to systems and processes that Kudler could use to improve their current processes. Incorporating an Internet-based purchasing system would add convenience and provide Kudler with sustaining a robust customer and supplier relationship. Currently Kudler has no purchasing department in any of their locations but standard purchasing procedures have been implemented. Currently each department manager in each location determines requirements for the items his or her department sells. These managers place purchase orders directly with suppliers using standard purchase order forms in each location. Departmental managers have the responsibility to obtain the best price, quality, and delivery possible. Managers also receive and verify the orders to decipher if they received the correct items and quantities that arrived in undamaged condition. Items are documented on an order received form and forwarded to accounting in order for the invoices on the items to be paid (Kudler Fine Foods website, 2011). The department managers at each location must check with their counterparts in other locations on the pricing, quality, and delivery of the merchandise they order. Managers are also encouraged to combine orders...
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...integrating technology into its business operations. They have requested our services to provide them with a business brief detailing how computer systems might be more effectively integrated to meet their business needs and improve their accounting operations. The following business brief will identify Kudler’s key business and accounting information needs, analyze the strengths and weaknesses of Kudler’s current computer system and technology use. We will explain what opportunities Kudler has in terms of technology and provide suggestions for improving Kudler’s ability to maximize these opportunities. We will evaluate the threats that Kudler may encounter given their current system and will explore some solutions for those threats. Kudler’s business plan is to expand services and programs that will increase loyalty and profitability of existing customers and to gain new high-margin customers. Information technology will be needed to support their strategic sales objectives. The objectives of the sales plan are to design programs that will increase revenue and decrease costs. These programs include the New Customer Focused Programs, Frequent Shopper Program, Targeted Awareness Building and Cost Cutting Initiatives. Other Improvements are needed to support operating and accounting systems. The focus for improvements in these areas will include purchasing, inventory management, forecasting and accounting security. Currently, Kudler’s main office in La Jolla, California...
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...Running head: KUDLER'S MARKETING PLAN 1 Kudler's Marketing Plan Kathy Kudler had an idea and transformed that idea into what is known today as Kudler Fine Foods. Starting up a business can be a difficult task and so can future growth of that same business. As of present, Kathy has again had an idea and started the transition to implement catering services. In an effort to make this business venture successful, Kathy has to consider several marketing strategies that not only benefits the company in the immediate but also creates future growth and stability of revenue in the long term. Three Pieces of Market Research Kudler Fine Foods (KFF) marketing strategy will require the “organizational function and a set of processes for creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders” (p. 8). Based on that conclusion a market consists of potential customers with desires and ability to buy specific products. Through the three pieces of marketing research KFF will “define the marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions” (Kerin, Hartly, Berkowitz, & Rudelius, 2006, p. 205). Consumer and Company This organization will link the consumer and the company through information to identify and define marketing opportunities, and problems by reducing risks and uncertainty to improve decisions made by the marketing managers...
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...guide for the culinary community. Since the publishing of her cookbook and airing of her televised cooking show, practicing one’s culinary skills has become commonplace. Kathy Kudler is no exception. She has turned her passion for gourmet cooking into a successful business venture by starting her own business; Kudler’s Fine Foods. Kudler Fine Foods Sales Strategy The first Kudler Fine Foods specialty gourmet store, located in La Jolla, California, was opened in 1998. Kudler’s first store was so successful, turning a profit in the first year that two additional stores were opened in the years following in Del Mar in 2000 and Encinitas, California, in 2003. The company sells gourmet foods in these up-scale communities to customers who are willing to pay a premium for premium quality foods and service. The theme of Kudler’s sales strategy is to “Delight our new and existing customers” (Apollo Group, 2009). With this in mind, Kudler has created three strategic sales objectives aimed at promoting their foods and services, building new relationships with potential customers, and reinforcing the same with its current customers. The first of these strategies is to create new customer focused programs. Kudler’s will offer exclusive in-store parties to show customers how to prepare specialty foods, drawing customers in by providing the privilege of training with local celebrities, world-renowned chefs, and Kathy Kudler herself. The goal of this is to increase the customer’s...
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...California. Kudler Foods decided to expanded to expand their business and partner with organic farmers. In doing this Kudler Fine Foods was making a strategic move to attract new clientele and new generate new business for their organization. For this to be successful opportunity and venture for Kudler to work with the organic farmers, Kudler. [pic]In order to maintain success on the business enterprise to work with local farmers, Kudler must perform a strategic analysis of affected areas of their supply chain activities business processes, and the quality of control systems business processes The move to contract with local farmers will affect various business processes within Kudler Fine Foods.[pic] This will be accomplished by Kudler Fine Foods which include product forecasting and inventory management. purchasing, inventory management, and product forecasting. Each store of Kudler would have their own purchasing power and inventory, due to the fact the customer demands vary from each location. “They note in their 2003 strategic plan that gourmet foods (imported foods and organically grown food) cost just a little bit more than what you normally find in the grocery store. If the economy declines and people’s cash flow is decreased, customers may buy fewer gourmet items and purchase products at the local grocery store.” (University of Phoenix, 11). The partnership with local farmers will also affect Kudler’s management of their store inventory. In order to maintain their...
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...partnered with a loyalty points program to provide customers with points which can be redeemed for high end gift items, airline first-class upgrades, or other specialty foods. This program will also enable the ability to track customer transactions and identify trends that will allow Kudler Fine Foods to customize its product base to better serve its customers. Before implementing this program, Kudler will need to identify legal, ethical, and security considerations as well as complete a financial analysis to justify the expenditures of the loyalty program. The Program According to Kudler Fine Food’s Sales & Marketing intranet website, customers prefer high quality and specialty foods are more important than high value prices. Kudler’s Sales and Marketing Department is developing a Frequent Shopper Program which will offer incentives to its members through point accumulation and offer Kudler valuable insight into the shopping tendencies of customers. Initially, this program should promote customer loyalty and give Kudler additional opportunities to react to customer spending habits. Customers will present a rewards membership card that will identify them when making purchases. After just a few purchases customers will have enough reward points accumulated on the rewards card to exchange for airline upgrades, assorted gifts, and free specialty foods. Currently, Kudler maintains a database that only...
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...Kudler’s Audit Processes Kudler Fine Food has expanded business and updated their computer systems to meet demands. As IT information is adopted within the organization, automation control processes has become more virtualized. To ensure that Kudler’s computerize systems function properly an audit must be performed on an annual basis. Management at Kudler Fine Foods wants to see the proposed audit schedules for all systems. Management wants to know the types of audit and how they will be conducted. In addition, management would like to know about events that might prevent reliance on auditing through the computer. Types of Audit Information technology and financial audits primary objectives are to ensure data integrity, safety, secure and operational effectiveness for Kudler’s business processes. Internal audit will provide an opinion on the accuracy and fairness of the financial statements. “This fairness evaluation is conducted in the context of generally accepted accounting principles (GAAP) and requires application of generalized auditing standards” (Bargranoff, 2008). External audits will assess computer-base accounting systems. The purpose of the audit is to determine how the computerized system impacts Kudler’s financial statements. Substantive test will be done to ensure proficiency; and it will begin with a preliminary test. A risk assessment will be another objective of the audit. “Risks of material misstatement can arise from a variety of sources, including external...
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...needed and analyze the importance of competitive intelligence. Lastly, it will provide an analysis in regards to the development of Kudler Fine Food’s marketing strategy and tactics. The Kudler Fine Foods stores began with a vision by owner Kathy Kudler. She envisioned the convenience of gourmet shopping in one location instead of purchasing many ingredients from a variety of stores throughout the area. Kudler Fine Foods has a bakery products, fresh produce, fresh meat, seafood, cheese products, and wine. Kathy Kudler decided to open her first store in 1998. This store is located in La Jolla, California. After two years, Kathy Kudler opened a second store in Del Mar, CA. Finally, in 2003, Kathy Kudler opened her third Kudler’s Fine Foods in Encinitas, California. Kathy Kudler’s goal is to “provide customers with the finest selection of the very best foods and wines so that customers’ culinary visions can come true” (Kudler, 2011). To achieve this goal, Kudler Fine Foods must provide to their customers the finest selection of goods and products for her customers to purchase. An effective business marketing plan can guide an organization in their business venture. An essential component of a marketing plan is marketing research. Whether Kudler Fine Foods is a single local neighborhood store, or a national chain, market research is critical to the success of the organization. Conducting market research is when an organization collects data on the product and/or services within...
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...wines, and other epicurean delights, in an unparalleled consumer environment, coupled by our experienced, helpful, and knowledgeable staff “ (Kudler Fine Foods, 2005, p. 1). Kudler Fine Foods has a business aspiration that encompasses quality product, aggressive pricing, and continued innovation. Kathy Kudler envisions a customer more inclined to pay a higher price for a quality brand. The following paper will discuss the strategies and opportunities presented to Kudler Fine Foods as the corporation embarks on a new business venture. Implementing a new sector to a business requires market research and development. The corporation must establish an effective marketing mix, ensure themselves the availability of their product, compare their aggressive pricing to competitors, and incorporate the recent merger with local growers into their marketing strategy. Before any of the previous objectives can be instituted, Kudler Fine Foods must determine the wants and needs of its potential catering customers, by analyzing its already existing sectors such as the cooking class socials and customer reward program. Throughout this course, the idea of increased product awareness, increased sales of high-margin products, and innovative product introduction has been a main focal point. Kudler’s in-store cooking social...
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