The Control Matrix A tool designed to assist in analyzing the effectiveness of controls, PCAOB Auditing Standard Number 5 – “Effectiveness of Control Design” Establishes the criteria to be used in evaluating the controls in a particular business process Steps in Preparing a Control Matrix STEP I: Specify control goals 1. Identify the Operations Process Control Goals -Effectiveness goals -Efficiency goals -Security goals 2. Identify Information Process Control Goals -Input Goals -Update Goals Operations Process Goals: For cash receipts process, two examples are: A:Timely deposit of checks B:Comply with compensating balance agreements with the depository bank -Other possible goals of a cash receipts would be shown as goals C, D, etc. and …show more content…
Sales order processing 3. Picking and packing the goods 4. Shipping Process Definition and Functions To create information flows supporting: Repetitive work routines of the sales order department, the credit department, and the shipping department -Decision needs of those who manage various sales and marketing functions Horizontal Perspective Management Questions Using Data Mining to Support Marketing Data warehousing Data mining Global E-business E-business systems are divided into two categories: Buy Side -Systems use the Internet to automate and manage corporate vendors and purchases E.g. Electronic data interchange (EDI), Supply chain management (SCM) Sell Side -Systems are designed to allow a company to market, sell, deliver, and service goods and services to customers throughout the world via the Internet CRM Systems Cultivate customer relationships by prospecting, acquiring, servicing, and retaining customers Customer self-service systems Context Diagram Diagram 1: Validate Sales Order 1.1 - Verify inventory availability Diagram 1: Validate Sales Order 1.2 - Check credit Diagram 1: Validate Sales Order 1.3 - Complete sales order Diagram 1: Validate Sales Order External Data Flow of Process 1.3: A picking ticket authorizes the warehouse to “pick” the goods from the shelf and send them to shipping -A customer acknowledgment notifies the customer of the order’s acceptance and the expected shipment date -A sales order notification is sent to the billing
4. Internet Promotion (Acquisition and Retention) A promotion plan is created and promotions carried out aiming at the acquisition of new customers based on the plan. Performs integrated management of operations extending from the front E-Commerce system to the warehouse management system, and accumulate customer information, merchandise information, shipping information and inventory information. A variety of information is analyzed to formulate and implement measures for retention from outbound through calls and the Internet, etc. 5. Order Acceptance, Payment Processing and Inquiry Response Order acceptance is implemented and payment processing done based on order information from consumers. Customer inquiries are taken care of at the time of the order 6. Return Processing / Inquiries after
Business-to-Business ecommerce refers to electronic processing of transactions such as products/services or information between businesses (Shaw, 2015). It includes electronic data interchange and supply chain management. It also influences the buying decision of customers in that when customers decide on a purchase, they start by checking it
provide an automated, customer-accessible ordering system (which allows customer to track products ordered in transit),
Student Answer: Company is Geodis Logistics USAA1.We help our clients succeed by overcoming logistical constraints (Mission). We are the growth partner for our clients (Vision).B1. Maximize Growth PotentialB2. Develop Next Generation WorkforceB3.Ensure Customer Lifecycle excellenceThe goal that is directly aligned with our department is B3.C1. Make it easy for the client to do business with usC2.Always deliver a perfect serviceC3.Win, retain and develop profitable clientsC4. Establish quality relationship with Vendors and Customers through effective communicationD1. Building Shipments in a Timely Manner 1.Customers email there shipment request into a shared inbox 2. Once received we must obtain all proper addresses and times for pick up and deliveries 3. Then gather the freight information : pallet count, weight, dimensions, toxicity , etc 4. Choose the carrier that will deliver the product the fastest yet most cost efficient. 5. Send the Bill of Lading back to customer to start the process.D2. The only way to improve the efficiency of this process would be to update the system to soe that most of the reoccurring shipment information could auto-populate to save time on unnecesary keystrokes, www.Geodis.com
An order processing system will be trap the order information from the customer service or straight away get it from customers. The data will be stored in a central database and the order information will be send to the accounting and shipping departments. The order processing system will be generate the tracking data based on the orders and inventory for every step of the way. Order processing system is very useful in any company especially those retailer or supply chain company. This system can help to ensure that all of the customers’ orders are filled on time. Since it is an automatically systems thus it can reduce errors while order is processing. By using this system, it can create a win-win situation between their business and their customers. It will enhance customers’ experience with more reliable deliveries and zero mistakes order fulfillment. For the business side, it can maximize the profit of the company with all the accurate orders, not to mention about the long-term revenue boost that comes from consistently satisfying
The system also provides productivity information. It allows management to measure productivity by region, by plant. Managers are able to utilize the data to see which employees are the most productive. The CRM system tracks our suppliers, matching the orders placed, against deliverables. This assists the firm in identifying the premier suppliers. The suppliers are given a logon, and required to submit a quote for the goods that we need within 24 hours. The pricing they supply is automatically fed into our system, and is used in the calculation to see if the projected customer request is profitable based on that suppliers quote. The analysis is generated for the plants operation manager, and is helpful in the decision making process. The investment in technology pays for itself.
Ch.1 financial intermediation results from economies of scale and the specialization of financial transactions. (banks, inv. companies [mutual & pension funds], insurance companies, credit unions, brokerage firms, investment banks). Inv. banks assist firms in raising capital, create the market for innovative new securities that meet the risk and return demand (CMOs, collateralized mortgage obligations – derivative security that separates the cash flows of a mortgage pool into different classes with different maturities and risks). risk and return are the most important characteristics of financial assets. Another is tax. (high tax-bracket investors would, other things equal, would prefer tax-exempt securities [municipal bonds]).
This report provides information that has obtained through Five-Products-A-Day Business process analysis. Five-Products-A-Day is an Australian Base pick-up center chain that they think to remodel their Business process. Because today’s business world is very competitive it needs a very good Business process. In current situation there are some problems like some customer’s unable to pick up their order next day, Staff need to add
The headquarter of Ma Factory in San Jose need to process around 1,500 sales orders from six different branches each day. Currently, each department of company has MIS solution developed by IT department. And the systems do not have strong connection with each other, which means current system operate independently that requires a large amount of manual work between the data transfer. When a salesman places an order for customer in sales system, order details first come to credit department system to verify if the pay type is appropriate to the customer based on the payment history. Once the order get through the credit analysis, it goes to data entry department. And then employees in data entry import the data into invoice system, so that warehouse department could print invoices in their side. After warehouse finish packing the items, shipping department come to pick up the packages and invoices and ship
The e-tailer can offer the consumer a variety of options at this point, which include warranty purchases or express shipping. In the communication process, the e-tailer (sender) provides the consumer (receiver) with purchasing options and many customer service advantages (purpose). The noise during the transaction will normally be minimal because the sender (vendor) wants to ensure the purchasing phase is pleasant and enjoyable. This medium enables e-commerce because a good online purchase experience will ensure a return customer and purchase.
Dr. Marcel van Rinsum Associate Professor RSM Erasmus University Department Accounting & Control mrinsum@rsm.nl Introduction Financial Management Control Systems (FMCS) form the bridge between the organization’s strategy and its operations. Their purpose is to align managerial behaviour and decision making with organizational goals. Although management controls are typically embedded in the organization’s financial management and accounting systems, their design and use should be based on a thorough understanding of how managerial behaviour is influenced by typical control system elements, such as target setting, performance measurement and rewarding. Indeed, while the proper design of
Nowadays, more and more people are using online auction services. With the advancement of technology online auction is one of the in-demand transaction modern people use. In the report an analysis and evaluation of two of the most known e-auction, EBay and Grays Online and their supply chain and logistics processes. We will see how the use of e-business technology affect the supply chain management and what recommendations we may come-up to their strategies and process. The role that supply chain management in an organization can have a direct influence on a firm performance, particularly in the area of cost reduction. An advances in information technology, specifically the Internet, have made it possible to change the
As a solution for successful supply chain management, Cornerstone Furniture is proposing to purchase a software system for SCM. There are two main types of SCM software: planning applications and execution applications. "Planning applications use advanced algorithms to determine the best way to fill an order. Execution applications track the physical status of the goods, the management of materials, and financial information involving all parties" (TechTarget, 2010). Although the planning and execution applications are successful on their own, another form of application available is open data. Open data SCM application models that allow "upstream" sharing of data with suppliers and "downstream" sharing of data with clients are successful as they allow the entire supply chain to connect and share information (TechTarget, 2010).
The Internet has opened new ways for the customer to interact directly with a firm. Simple direct entry and monitoring of orders is only the first step in the progression of value-added services made possible through information sharing.
Company has a production facility where the goods (cheese, ice cream and yogurts) are produced. These finish goods are then transferred to three different regional distribution centers. Company salesmen collect their supplies and customer visiting list from the warehouse manager according to their assigned regional centers. Now salesmen visit their customers, sale goods and also take products back (from the previous sale) that customer doesn’t need. Salesmen carry a wireless device which has an application to create invoices. A salesman also takes a preorder for the next visit and collects payments. As salesmen are generating preorders, sales of this information is transferred to main office and warehouse database for further actions.