...S U P P LY M A N A G E m E N T SPOTLIGHT on Procurement’s Chance to Shine Procurement professionals today have a huge opportunity to make a powerful impact on business performance. By Marc Hochman and Robert Boll Marc Hochman is a Vice President and Robert Boll is an Engagement Director at A.T. Kearney Procurement & Analytic Solutions. They can be reached at marc.hochman@ atkearney.com and robert.boll@ atkearney.com. The business contribution expectations for procurement professionals are increasing; gone are the days of simply “I need a PO for this.” Successful transformation of the procurement organization hinges on enhancing its professionalism. The three key dimensions of the required transformation are: • Increasing responsibilities and higher value contributions. • Understanding and analyzing supply market dynamics. • Increasing support and alignment with business and functional strategies. Increasing responsibilities and higher value contributions. Customer demands on procurement and the supply chain overall are increasingly more diverse and complex. Procurement must be positioned to anticipate changes in business requirements, adapt to these changes, and accelerate change implementation to capture opportunities ahead of the competition. The capability to align customer segments with the right products/services and to develop adaptive supply chains are core elements of the value-added contributions that procurement is increasingly expected to deliver. A.T. Kearney’s...
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...Explaining the concept of business intelligence and its use in business “BI is about turning data into information” (searchbusinessanalytics.techtarget.com/). The author gives an example that “…plotting spatial data onto a map is…[a] BI because it makes the data much more accessible to the user and therefore turns it into information.” (Ibid.). He adds, “BI systems are … very good at sifting through (and/or aggregating) huge volumes of data and turning it into information.” (Ibid.). (Turban 2013, p. 345) concurs, “BI systems are very good at filtering and aggregating huge data volumes into information.” With a business intelligence system, it is possible to summarize sales data for a region and assess the impact of a marketing campaign by product or by geographical area and present the same to users “on mashups.” (searchbusinessanalytics.techtarget.com/). The mention of mashups leads us to the issue of “business intelligence” systems “for the masses” on mobile devices (Turban 2013, p.349). Thus, with mobile and BI technologies respectively and concurrently, “mobile dashboards” have eased and popularized the implementation of “mobile intelligence.” (Ibid.). Today we have what would be called, “Mobile dashboard-supplied [business] intelligence” whereby data and information are accessible online, real-time, anywhere (Turban 249-350). With todays “visualization technologies…like “business dashboards, enterprise mashups, interactive reporting tools, and visualization apps...
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... 1) Understanding Marketing Management a) Define the term supply chain. b) What is the task environment? c) What is meant by holistic marketing? d) What is the Product Market Expansion Grid? e) Explain the differences between a strategic marketing plan and a tactical marketing plan. f) Define Market Opportunity Analysis (MOA). A. Define the term supply chain. Supply chain management can be defined as the process of planning, implementing and monitoring the everyday operations of a supply chain Supply chain management is an all encompassing process as it undertakes the management of availability of raw materials, their processing into finished goods and the distributions of the same. The aim of all this is to provide the highest level of satisfaction to the customer and thus increase the business of the company. And with the increasing complexity of the supply chain, supply chain management has also become about coordinating and collaborating with the different trade partners now involved in the supply chain. Supply chain management decisions are made on three different levels- the tactical, strategic and operational levels. Strategic level involves long term decisions while tactical level includes medium term decisions while operational level is concerned with very short term day-to-day operational concerns. The problems that the supply chain system is supposed to address include the following: I. Distributor Network...
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...Strategic component answers the question "why do security enterprise problems exist?" This question of security leads to developing security policies that deal with people issues, and evaluates internal/external risks. Organizations are urging top executives to make information security a priority. Therefore, quality and trustworthiness of information are becoming key business issues (Ezingeard et al, 2005). To better accomplish information security in an organization, a management level infrastructure approach is needed. Just as information and data characteristics are different at the different levels of management, information security has different characteristics at the different levels of management. These levels of management are strategic, tactical, and operational. At the operations level, transaction data is produced and serves as input to create information. Maintaining and monitoring of integrity, confidentiality, and availability of the transaction data are primary objectives which are supported by organizational procedures and guidelines. At the tactical level, information is interpreted and utilized in decision making. Implementations of preventative, detective, and responsive controls are a primary objective which is supported by organizational standards. Further analysis/aggregation of the information creates knowledge to help make strategic level decisions Information security policy provides a framework to ensure that systems are developed and operated in...
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...accounting writers tend to present management accounting as a loosely connected set of decision‑making tools. Although the various textbooks on management accounting make no attempt to develop an integrated theory, there is a high degree of consistency and standardization in methodology of presentation. In this chapter, the concepts and assumptions which form the basis of management accounting will be formulated in a comprehensive management accounting decision model. The formulation of theory in terms of conceptual models is a common practice. Virtually all textbooks in business administration use some type of conceptual framework or model to integrate the fundamentals being presented. In economic theory, there are conceptual models of the firm, markets, and the economy. In management courses, there are models of organizational structure and managerial functions. In marketing, there are models of marketing decision‑making and channels of distribution. Even in financial accounting, models of financial statements are used as a framework for teaching the fundamentals of basic financial accounting. The model, A = L + C, is very effective in conveying an understanding of accounting. Management accounting texts are based on a very specific model of the business enterprise. For example, all texts assume that the business which is likely to use management accounting is a manufacturing business. Also, there is unanimity in assuming that the behavior of variable costs within a relevant range...
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...To From Subject Course Date Mr. R. Nijland Luuk Harleman (2430113) Business case Auditing Report 26th of March 2013 luukharleman@gmail.com (243011) 2 Executive Summary In the following case a business process is described of a particular subject which is discussed during the lectures of the APM course. The choice was to write one from your own experience or from an existing company. I chose an existing company since you can keep an interview and it will be easier to identify the current situation and to draw up a “plan for the future” which will contain some adjustments and benefits the company. The company I chose is an advertisement agency which focuses on online graphical design and target group analysis to efficiently meet today’s customer demands. luukharleman@gmail.com (243011) 3 Table Of Contents Executive Summary ................................................................................................................................ 3 1.Company Analysis ................................................................................................................................ 5 Organisation chart ............................................................................................................................... 5 Brief outline ......................................................................................................................................... 5 Products.....................................................
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...1. How does e-Enabled create value for Boeing? In the “Essentials of information systems for managers”, Piccoli does not only define value creation as the genesis of worthwhile things that did not exist before (Pic, 214), but also explains the two major ways with which added value could be created (Pic, 222): either increasing customer willingness to pay by doing something of value for customers, or decreasing supplier opportunity cost by working with the firms’ suppliers on providing the needed resources for less money. The former (CWP) is defined as the maximum amount the customers are ready to spend on the firm’s product or service (Pic, 215), whereas the latter (SOC) is defined as the minimum amount of money the suppliers are willing to accept before providing the needed resources (Pic, 215). As far as Boeing is concerned, the new e-Enabled strategy focused on increasing the customer willingness to pay, and I quote from the case (LYN, 1): “Boeing unveiled a new strategy that executives believed would help its airline customers improve efficiency and profitability and also differentiate its products in the market place.” If we analyze this quoted statement, we will see that the way Boeing intended its customers to create added value from e-Enabled is twofold: First, from e-Enabled’s potential to reduce costs complexity, provide real-time situational awareness for both flight crews and airline operations centers, improve operational efficiency, enhance the travel experience...
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...activities to the communities to enjoy. Their objective is to build quality activities and enjoyment to the community as well as to maximize their profits at the same time. In this case, marketing role has help A’Famosa Water-World to achieve its objectives in a way that it provides awareness and information regarding the water theme park to the customers. Through this report, an evaluation on A’Famosa Water-World current practices is able to define. Recommendations on marketing strategy and one year integrated plan will be defined in this report as well. This generally helps to create a clearer picture on how A’Famosa Water-World is playing a role in business world and business market. (Sources at: http://www.afamosa.com/main.php?m=Content&op=page&id=17) 2. Strategic Planning Tool - SWOT Analysis SWOT is an important strategic planning tool; it helps to compare internal organizational strengths and weaknesses with external opportunities and threats. This analysis provides a critical view of the organization’ internal and external environments and helps on evaluation of the basic mission for firm’s fulfillment. A firm’s strengths reflects its core competencies which are capabilities that customers value and competitors find difficult to copy. Firms will face a problem when environmental threats attack their weaknesses. Therefore, firms...
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...amount. The operational managers would begin to look at daily activities of the firms inventory, monitor performance of sales task force and as well as daily scheduling. The tactical managers carry out the programs and plans of senior managers. They are involved with accomplishing top end executives goals that strive towards organizational goals. There main focus is on monthly budgeting, monthly scheduling and personal plans. Extra insight would be with the tactical manager with being charge of sales forecasting and sales management. They would provide extra insight with these because they want to make sure they are penetrating the right market with, the right product, to the right customer. This is a critical step as it is very expensive establishing your organization in a market. Tactical marketing mangers would have extreme impact on the organization’s success due to the fact that their sales research and possible sales forecasting will lead them to potential trends for selling products. The line graph illustrates are sales day by day providing extra insight on the highest for a product, which was the fire extinguisher. Overall, choosing the right market, product and customers have influence on your companies’ success with operational and tactical managers being front and center for all these tactical decisions. 2) Cross-functional accounting systems are a group of individuals are comprised of special abilities that provide value to the organization. It may include...
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...M1 and Dr. Suresh Subramoniam2 Lecturer Riyadh Community College King Saud University Saudi Arabia E-mail: nizarhussainm@yahoo.co.in 1 2 Assistant professor College of Business Administration Prince Sultan University Saudi Arabia E-mail: sureshsubramoniam@gmail.com Abstract: Supply chain management (S CM), a management method to optimize internal costs and productivities, has evolved as an application of e-business technologies. SCM is a powerful strategic function capable of radically improving customer value propositions by the reengineering of intranet and internet-enabled collaborative channel partnerships. Latest developments in information technology have propelled the e-Supply Chain Management (e-SCM) concept to newer dimensions. In the past, neither markets nor products changed much over time, enterprises that gained initial superiority could leverage on, considerable resources and process knowledge, mature distribution channels, advertising and marketing clout, and the newest technologies, to maintain that lead. Today, it is evident that there is no such thing as sustainable competitive advantage and also that all advantages are temporary. The cause for the rapid acceleration in the erosion of competitive advantage in almost all the businesses can be traced back to the rapidly developing newer technologies. Still more deadly is the sudden growth of newer business models that have been quick in challenging the present leaders by leveraging on special competencies...
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...Marketing Management, 14e (Kotler/Keller) Chapter 2 Developing Marketing Strategies and Plans 1) The task of any business is to ________. A) create customer needs B) differentiate in terms of cost of production C) deliver customer value at a profit D) reduce competition E) communicate similar value as provided by competitors Answer: C Page Ref: 33 Objective: 1 Difficulty: Easy 2) What is the traditional view of marketing? A) Firms should just focus on production because if the products are good then they will automatically sell. B) Firms should just focus on production and selling because marketing occurs as a part of the selling process. C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them. D) Firms should price their products as low as possible so that marketing them becomes easy. E) Firms should remember that promotion is the most important of the four Ps. Answer: B Page Ref: 33 Objective: 1 Difficulty: Easy 3) Value delivery process can be divided into three phases, out of which "choosing the value" implies _______, which is the essence of strategic marketing. A) segmentation, developing, and delivering B) targeting, positioning, and communicating C) targeting, positioning, and delivering D) segmentation, targeting, and positioning E) researching, developing, and delivering Answer: D Page Ref: 34 Objective: 1 AACSB: Reflective thinking Difficulty:...
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...JBR-06929; No of Pages 8 ARTICLE IN PRESS Journal of Business Research xxx (2009) xxx–xxx Contents lists available at ScienceDirect Journal of Business Research Does management accounting play role in planning process? Fabio Frezatti a,⁎, Andson B. Aguiar a,b,1, Reinaldo Guerreiro a,2, Maria A. Gouvea a,2 a University of Sao Paulo, School of Economics, Business Administration, and Accounting, Av. Prof. Luciano Gualberto 908, FEA3, Cidade Universitária, São Paulo City, 05508-900, State of São Paulo, Brazil b Fucape Business School, Av. Fernando Ferrari, 1358, Boa Vista, Vitória-ES, 29075-505, Brazil a r t i c l e i n f o a b s t r a c t This study examines the relationship between management accounting and planning profiles in Brazilian companies. The main goal is to understand the consequences of not including a fully structured management accounting scheme in the planning process. The authors conducted a field research among medium and large-sized companies, using a probabilistic sample from a population of 2281 companies. Using analytic hierarchy process (AHP) and statistical cluster analysis, the authors grouped the entities' strategic budget planning processes into five profiles, after which the authors applied statistical tests to assess the five clusters. The study concludes that poor or fully implemented strategic and budget-planning processes relate to the management accounting profiles of the Brazilian organizations studied. © 2009 Published by Elsevier...
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...profitability. Karim N. Sidi and Dale A. Hutchinson L arge organizations, especially those that have grown through consolidation, mergers, and acquisitions, are often fraught with incompatible systems and data sources that are costly and difficult to manage. The systems usually do not avail efficient extraction, aggregation, and sharing of data within or across the boundaries of the business process. To address this problem, organizations can turn to an information management framework that facilitates managing raw data to create useful information that can be shared across the organization. SEPTEMBER/OCTOBER 2013 INFORMATIONMANAGEMENT 35 sist of a mix of home-grown, functionspecific applications and third-party systems built by disconnected teams without a shared reference for data definition. The solution – forethought and planning to create well-defined data standards – may appear obvious from an architectural perspective but may not be so easy to accomplish. The steps described below will help. Establish Processes, Rules, Policies Identifying the “truth” first and foremost requires that business processes, rules, and policies be clearly defined, shared, and understood inside and outside the organization. Metrics and audit checkpoints must be established to monitor the processes for accuracy and consistency. Map Data Flows The next step is to map the data flow from the source applications to define the required flow from one process step to the next so the organization’s...
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...Introduction Information and communication technologies (ICT) refer to several forms of information exchange between two or more computers through any of the several methods of interconnection. These technologies provide speedy, inexpensive and convenient means of communication. The adoption of these technologies in many countries by different sectors of the economy have been found to have direct positive impact on the organizations's efficiency and have led to more rapid acceleration of development in these countries. In Nigeria, however, preliminary investigations show that only a few organizations in the economy have adopted the ICTs, but there has not been formal study to determine the level of adoption and impact on the efficiency of the organizations and the consequent effect on the nation's economy. This study, is therefore, designed to determine the level of adoption in the Nigerian organizations, and the impact on the operations of these organizations as well as investigating the factors responsible for the present level of adoption of these technologies in the organizations. Globalization of the social economy will further increase during the 21st century. The mission of international air transportation will become more important, and all airports around the world will have a significant role to play. Furthermore, it is predicted that air transportation demand in the world will double over the next 15 years. In the meantime, since the September 11, 2001 terrorist attacks...
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...ARTICLE: Value chain analysis in interfirm relationships: a field study and Interorganizational cost management and relational context. Introduction A value chain is a chain of activities for a firm operating in a specific industry. The business unit is the appropriate level for construction of a value chain, not the divisional level or corporate level. Products pass through all activities of the chain in order, and at each activity the product gains some value. The chain of activities gives the products more added value than the sum of the independent activity's value. It is important not to mix the concept of the value chain with the costs occurring throughout the activities. A diamond cutter, as a profession, can be used to illustrate the difference of cost and the value chain. The cutting activity may have a low cost, but the activity adds much of the value to the end product, since a rough diamond is significantly less valuable than a cut diamond. Typically, the described value chain and the documentation of processes, assessment and auditing of adherence to the process routines are at the core of the quality certification of the business, e.g. ISO 9001. Diagram 1 The goal of these activities is to create value that exceeds the costs of providing the product or service and next generating a profit margin. A Value Chain Analysis (VCA) has five parts including: a) inbound logistics; include the receiving, warehousing, and inventory control of input materials. b) Operations;...
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