...Running head: KUDLER’S FINE FOODS TECHNOLOGICAL ADVANCEMENTS Kudler Fine Foods Technological Advancements Tiffanie Tedesco University of Phoenix Kudler Fine Foods Technological Advancements Problem Statement Kudler Fine Foods is growing all over California and is continuing to grow over the next several years. In order for the gourmet specialty food chain to be successful Kathy needs to implement technology into the business. Kathy presently drives to all three locations each week and is the only person whom takes the inventory and orders the products. This would allow her to spend less time maintaining the inventory and purchasing at all three locations. Therefore, Kathy could focus her time on customer relations and expanding her stores. In the near future Kathy could hire someone with more experience to delegate the responsibilities of the purchasing process. In the long-term Kathy should implement the automated inventory system especially if her goal is to open several more locations throughout California. Kudler’s could be a truly successful gourmet chain once it has the technology in place to allow for purchasing and tracking sales. This will allow Kathy to see when to order a product and this will ultimately reduce the amount of perishables that are now being thrown away or donated to local charities. Kathy will be able to open the other locations already having an inventory system set up making it more convenient to open new locations and free up her time to have...
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...BADM 566 Supply Chain Management- write-up 3 Advancement Team 5: Yu Ting Tseng, Evren Yücel, Aslanbek Amrin, Nick Timmons, Jiraphong Tisavipat 1. HP is in an inventory crisis. What should it do? Qualitatively evaluate the options in case A. There are two significant, main issues in this case. First, we are inquiring into the best way to satisfy customer needs in terms of product availability, whilst minimizing inventory. The second refers to what exactly minimizing inventory means; is driving towards zero the proper focus for level of inventory? These issues arise because of H-P’s incredible success in the Inkjet Printers space. Their huge sales growth with the revolutionary Deskjet brought great revenue; And with that, the archetypal dual supply chain problem of decreasing availabilities amidst increasing inventories. There are several significant recommendations that we have, broken down according to A-E, listed below: A. Building a new European factory: We do not recommend building a new factory in Europe, because it is not entirely clear whether or not European volumes are large enough for the area to justify its own site. To be sure, the average demand in Europe is ~23,000 units/month, which is only 44% of total demand that Vancouver covers itself already. Besides, a new factory would add new overhead costs. So, even though the inventory and service crisis is most acute in Europe, and a new factory would go some ways in that regard, ultimately, there are more...
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...Importance of Logistics Systems in Business The importance of logistics systems lies in the fact that it leads to ultimate consummation of the sales contract. The buyer is not interested in the promises of the seller that he can supply goods at competitive price but that he actually does so. Delivery according to the contract is essential to fulfilling the commercial and legal requirements. In the event of failure to comply with the stipulated supply of period, the seller may not only get his sale amount back, but may also be legally penalized, if the sales contract so specifies. There is no doubt that better delivery schedule is a good promotional strategy when buyers are reluctant to invest in warehousing and keeping higher level of inventories. Similarly, better and/or timely delivery helps in getting repeat orders through creation of goodwill for the supplier. Thus, as effective logistics system contributes immensely to the achievements of the business and marketing objectives of a firm. It creates time and place utilities in the products and thereby helps in maximizing the value satisfaction to consumers. By ensuring quick deliveries in minimum time and cost, it relieves the customers of holding excess inventories. It also brings down the cost of carrying inventory, material handling, transportation and other related activities of distribution. In nutshell, an efficient system of physical distribution/logistics has a great potential for improving...
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...Inventory Proposal Peter Chadbourne, Joanna Harris, Kristen Hazel, Cheryl Hickman, Rick Kuchka QRB/501 July 23, 2012 Dr. Sam Obeng-Dompreh Inventory Proposal In today’s business world and with the changes of technology one may face challenges of technology malfunction, incorrect data as well as inventory problems. In the 21st century the way that one conducts business has changed over the last decade. It is important to keep up with the advancements of technology as well as implement cost-efficient systems and programs. A system used in some business such as Trader Joes, Best Buy, and Verizon Wireless id the POS (Point of Sale System). This system was designed to keep track of merchandise that was going in and out of the stores. When the merchandise is scanned at the cash register the system should transfer the data to let the inventory system know that one less product is in stock. However, the systems can malfunction causing and overstock of inventory. This is an inventory management problem that one in any of these organizations may be faced with. POS Inventory Problem An inventory management problem that applies to Team B’s personal and work lives is the Point of Sales (POS) System. This system is common to many retail locations such as Trader Joes, Best Buy, and Verizon Wireless. This system is used to track the sales of a business and to keep track of inventory needs. When a product purchased, this inventory system tracks how many are purchased and will...
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...paragraph regarding the trend and implications about the future financial health of the company. Liquidity: The company has very strong ratios helping the company to do well. Dell’s current ratio and quick ratio are at 1.47 and 1.40 respectably, this similarity between one and the other is a reflection of their very low inventory compared to the amount of sales that the company has, also influencing the net working capital ratio of only 0.23. At first sight the current liabilities to inventory ratio of 15 might seem a bit high, although the denominator of the current liability to inventory ratio is inventory and it is really low. It’s really hard to compare the company to the industry average because there is no other company that handles its inventory like Dell does. The company’s operation ratio expense is 12.64, way below compare to their industry do to their very low inventory. Assets Utilization: Asset utilization is vital to the success of an organization, the way assets are used within the organization is their biggest and strongest strategy making Dell a leader in its industry. A reflection of this strategy is their impressive inventory turnover ratio of 45.45. Unlike the industry average low numbers on the rest of the asset utilization ratios such as fixed assets turnover, total assets ratio and asset to equity ratio, Dell’s average 50% higher than its competitors. Profitability: Dell has been successful due to its differentiated strategy compared...
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...of the purchase of the CAD/CAM to the forecasts of the company without the purchase of the computer. Once the forecasts have been made, the main variables of differentiation in the income statement will focus around the sales, inventory, cost of goods sold, and depreciation. The most promising aspect of technology investment is the increase in sales brought on by the efficient and effective method of production. The costs of goods sold would decline, as the efficiency of the production would increase with the system. Depreciation would also increase, as the CAD/CAM would be depreciated over some time. Due to the heavy cost and useful lifespan of the system, the system should depreciated in order to make the most of the tax benefits created by the acquisition. The firm may use straight line or MACRS. The main differentiation in the balance sheet will be accounts receivable, inventory, and total assets. Accounts receivable will increase as a result of the volume of sales increase. The production and sales increase will consist of purchases on credit, which will inflate the accounts receivables. The increase in sales and production will inflate inventory as the market creation will expand and meet economies of scale. Along with the acquisition of the CAD/CAM system which will also expand the firms market share and production, the division will make other acquisitions related to the expansion and the total assets account will increase as a result. The information provided in the...
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...Studies Computerized sales and inventory systems help manage products and ensure that transactions are completed correctly. These tools track products and provide ongoing inventory controls that reduce shrinkage. Use of these resources makes retail activities much easier and efficient. Using computerized sales and inventory systems allows for much greater accuracy in stocking and product management. They encourage ease of interaction between employees and shoppers as transactions are processed and items move from the business to the consumer. Computerized sales help provide better insight into which products are most popular. It also allows for enhanced marketing, stocking and oversight of critical sales objectives. Computerized sales and inventory systems save time for businesses by speeding up transactions while raising accuracy. This allows for confidence in accounting and accountability among employees as it is easy to verify how much money is in a till and what time transactions took place. They also allow for consistent experiences in terms of customer service. People know there is always a uniform interaction at the register that requires tendering payment, taking a receipt and transition of ownership of products and services. This generates confidence in a business and ensures ongoing consumer relationships. Computerized systems are the most common method of inventory control and sales processing in retail markets. Description of the Existing System This part describes...
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...The Effects of Technology on the Accounting Profession ACC/340 The Effects of Technology on the Accounting Profession Advancements in technology have allowed companies, small and large, to keep accurate financial records and eliminate paper entries. Technology has also allowed individuals in the accounting field the ability to interpret the financial information efficiently and effectively. With the introduction of the internet, a company now has the option to expand their business beyond a specific geographic area, and seek new opportunities for expansion around the globe. The introductions of new software programs, which can be designed to meet the specific needs of an industry, assist with the internal operations and profitability. While this new form of conducting business has been beneficial for an organization, it creates new challenges for the accounting field. Technology and Changes in Accounting Over the years technology has continued to provide valuable tools not only to a business, but to individuals who manage the financial aspect of the company. The introduction of the Microsoft Excel program allowed accountants to utilize an electronic spread sheet, eliminating pencil and paper entries as well as minimizing errors. As time advanced software programs such as Quick Books, Microsoft Money, and industry specific programs emerged. For smaller companies it allowed the business owner to have all financial information related to their company at their...
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...business in an evolving world. Modern technology advancements in accounting information systems will aid Kudler in the company’s growth and will eventually reduce accounting costs and the time it takes to complete accounting processes. We recommend that Kudler switch from paper accounting to an automated system, such as POS system to enhance the payroll, accounts payable, accounts receivable, and inventory processes. Accounting Information Systems Kudler Fine Foods is a company that was started with an idea and has now expanded their chain into three additional stores within a couple of years. They are in need of software suitable for the specific needs of the organization. Analyze the nature of the software that Kudler would benefit most from is very important. A collective discussion will be on the accounting information system (AIS) in regards to the internal controls of Kudler’s Fine Foods and what the company will need in order to run reports and statements. Rational and Analysis of Recommendation If a company takes the time to develop their accounting system it will provide the organization with a long term benefit. It allows a company to meet their financial obligations with accurate reporting. Kudler Fine Foods benefit best if they developing a customized system. Although the development of a customize system could become significantly costly and very time consuming with implementation the advantage is that the system is designed to support the companies specific processes...
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...maintain the selling price of its products for 12 years, until a significant change in the members of the top management and their ideals took over. The supply chain department and the company itself is at the verge of being out-dated by other companies through technological advancements, and its failure to adhere and adopt to the global standards and methods of supply chain management is placing the fate of the company in a very alarming situation. PROJECT NAME: The Implementation and Practice of Global Supply Chain Standards and Methodologies for a Filipino Pharmaceutical Company. DESCRIPTION OF THE PROJECT: The lack of knowledge on the global standards and methodologies in supply chain management, procrastination, and the lack of interest of the management to develop and adopt a more suitable and stable supply chain practice and strategy are the key factors that hinder the growth of the company. The efforts to expand will all go to waste and will only add unnecessary expenditures. Though the past 20 years for GXI has been a “lucky and fruitful” journey, a drastic change must now take place by strengthening the supply chain management functions and fully utilizing and adopting technological advancements and...
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..."operations management." Major, overall activities often include product creation, development, production and distribution. (These activities are also associated with Product and Service Management. However product management is usually in regard to one or more closely related product -- that is, a product line. Operations management is in regard to all operations within the organization.) Related activities include managing purchases, inventory control, quality control, storage, logistics and evaluations. A great deal of focus is on efficiency and effectiveness of processes. Therefore, operations management often includes substantial measurement and analysis of internal processes. Ultimately, the nature of how operations management is carried out in an organization depends very much on the nature of products or services in the organization, for example, retail, manufacturing, wholesale, etc. Sections of This Topic Include: Purchasing Control and Coordinating Function of Management Product and Service Management Quality Management Inventory Management Logistics and Transportation Management Facilities Management Configuration Management Distribution Channels General Resources [pic] Procurement (Purchasing) Practices This topic reviews guidelines for buying various materials from suppliers and vendors -- materials, including computers, services from lawyers, insurance, etc. Procurement (Purchasing) Practices Management Control and Coordinating Function ...
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...Monique Chenard Hospitality Information Systems and Users Lauri Figueroa Course # BIS/303 Inventory tracking is the controlling and overseeing of storage and the ordering of components that many companies use in producing items. Inventory tracking used also for overseeing and controlling of finished products for sale. A company’s inventory is their investment and a part of their assets that has sold and used in the company as part of its production. Inventories that are mismanaged may create sizeable financial and inventory problems for companies, whether the mismanagement results in an inventory shortage, over inventory and loss in possible sales. The two types of inventory tracking used are Perpetual and Periodic. In a perpetual (usually used in supermarkets or department stores), a continuous flow of inventory count is tracked using a point of sale (POS) check out system. This system is perfect for companies to manage what has sold and reorder when a reorder point has reached. Another advantage of this system is its ability to account for shrinkage (theft) and inventory turnover. The periodic system (used in smaller retailers) used to take a physical count of inventory at periodic intervals to replenish the inventory. This system would be most beneficial for companies that do not have products with UPC or bar codes, such as details and has purchased in large quantities at a time. In this case, someone on a line would monitor the level of the bin and notify a manager...
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...this paper is to address the critical role-play of Information Technology and IT enabled Services (ITeS) in Retail sector, which is booming in India, and a lime-light into security concerns and other important areas such as system integration, a right business intelligence (BI) solution, and technology for sales & customer care, etc.Large and medium retail houses need to look at an efficient integration with external and internal functional participants (Suppliers to POS), thus need of smart and secured networking. People and training them is also an integral part of the total infrastructure management, therefore technology advancement is considered to be cost effective and just-in-time-update. Keywords: Store operations, Information technology in retail store ,Supply Chain Management (SCM), Customer Relationship Management (CRM),IT enabled services. Introduction: Retailing is a “technology-intensive industry. It is a well-known fact that the retail industry always works on razor thin margins and the key to survival lies in optimization of resources both in space and time dimensions as well as maximization of customer satisfaction. Successful retailers today work closely with their vendors to predict consumer demand, shorten lead times, reduce inventory holding and ultimately save cost. Access to timely and even real-time information to a wide variety of channel and trading partners,...
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...Introduction of e-commerce Electronic commerce can be defined as sales or purchase of goods and services or any commercial transaction through electronic systems such as internet, telephone and e-mail. There are several forms of e-commerce, including: Business-to-Business (B2B) is the electronic transactions between enterprises for conducting business. Business-to-Consumer (B2C) is the business sell of products or services directly to customers, such as Gmarket, Alibaba etc. Consumer-to-consumer (C2C) is the business conduct between consumers. This usually is a form of auction or forum site, such as E-bay. Consumers post what they intend to sell on the webpage, other consumers can access and bid for the item. Customer-to-business (C2B) is a form of business offered by consumer to business to exchange for money. For example, designers sell a design to a multimedia manufacturing company online. One of the major subset of E-commerce is mobile commerce. It is the sale and purchase of goods or services or conducts any business activities through internet connection using handy devices such as mobile phones and tablets. Mobile commerce is getting popular and can be defined as the next generation of e-commerce. Businesses conduct e-commerce to stay competitive. Some of the businesses are successful with the use of e-commerce, such as online shop Amazon and DBS Bank. Amazon provides a massive range of products. They are focus on their selection, price and convenience. Customers can...
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...Area Cashier-Check-in/Check-out and Inventory System II. Specific Topic Point of Sale System in Business using LCD touch-screen monitor III. Specifics of Research A. Introduction POS or PoS, an abbreviation for Point of Sale, is a system for managing the sales of retail goods. This is a computerized network operated by a main computer and linked to several checkout terminals. The term POS use to refer to the software and hardware associated with checkout stands, and all of the bundled features which are included in one. This was truly revolutionized the business industry and made huge advancements from the mechanical cash registers for the first half of the 20th century and revolutionized into electrical and more sophisticated, powerful and user-friendly computer networks in commercial usage. Running business is a process. There are many things to consider in a business; analyzing data, monitoring products, adjust purchasing levels accordingly and maintaining sales history are the day-by-day works that must be handled as one. Deciding to have a system is the best decision that once business is made especially at today's world of industry. POS Systems drastically cut down total operating costs and mistakes due to human error. Just imagine how much longer the business process would take if no such solutions existed. The time and effort of the business heavily impacts the overall quantity & quality of the daily sales. Best-in-class customer service is...
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