COSTING AND MANAGEMENT ACCOUNTING PRACTICES
COMPANY:
BATA INDIA Ltd.
EXECUTIVE SUMMARY
This report discusses the detail of 1) Bata’s main line of business. 2) Its main competitors and their value chain comparison. 3) Strategy the company is following. 4) Current Costing System of the company. 5) Decision making on the basis of cost and information. 6) Decisions are being taken using management accounting information.
To summarise the above points we know that Bata is the fastest growing footwear brand in the country with a presence across 400 cities. The brand offers a wide range of comfortable, stylish and trendy footwear at affordable prices, ensuring there is something in the collection for everyone. The USP of the
…show more content…
Now they are not dependant on some third party for procurement of raw material.
Sales and distribution-
Bata operated through exclusive chain of executive own and franchise stores located in prime location country wide. Bata owns network of 300 exclusive wholesalers who serviced 30,000 retail outlets throughout country. Overall it has over 1,600 showrooms, 27 wholesale depots and 8 distribution centers across the country.
Technological resources-
In 2004, Bata installed point of sale management information system (POS), for providing sales and inventory information across the company’s stores. This provides company to plan production and optimize inventory level.
LIBERTY SHOES LTD.:
Technology –
It has introduced a new material called TPU (Thermo Plastic Urethane), for high quality footwear, into the country. This material has better properties than PVC or TPR (conventional materials used for footwear).
Liberty has also been instrumental in introducing EVA (Ethyl Vinyl Acetate), which is a direct injection moulding used for making sole for the first time in Asia. This technology uses very light material & the footwear is made with the direct injection system.
Liberty also pioneered the PU (Poly Urethane) Technology in India for the footwear industry.
Besides these Thermo Plastic Elastomer has been developed for the first time in India at Liberty. A CAD/CAM design centre is in place at Liberty. The Sympatex waterproof technology in footwear was
Footwear International is a multinational manufacturer and marketer of footwear that has 83 companies in 70 different countries. One of these locations is
Sloan & Spencer Auditing Firm LLC, proudly announces that ours auditing firm is respected and reliable auditing firm in the United States. Our firm is also Service Auditor (SAS 70) Assessments certify among other auditing firms, and have specialization auditing in the areas of superior athletic podiatric products. Our auditing firm provides services like recovery audit and revenue Optimization, Coding Accuracy
| how big the incentive payment per non-defective pair is; whether shoes are produced with 100% standard materials or 100% superior materials, the durability and of its footwear; and how many models/styles are included in its product line.
Sneakers have been a part of human society for many decades. They are used on a daily bases by ordinary citizens, industrial workers, and athletes. One of the key parts of a shoe is the outsole, the layer that is in direct contact with surfaces. Ancient civilizations adapted the outsoles of their “sneakers” to their environment. Modern day sneaker companies determine the material and texture of their outsoles by examining the way their target consumers will use the product and by using the science of friction.
There are other footwear’s that provide the same level of comfort and satisfaction such as the shoes designed by Nike, Adidas, Bata etc. as well as sell at a competitive price.
The strength in the existing information system is that the modules that are installed reduce the manual data entry, thus eliminating unnecessary errors to the information, by allowing the modules to share information provided by the point-of sale machines. The POS system itself is a major benefit to the IT system as a whole, due to the number of transactions it is
Essence is about special pattern, detailing, modern, layering. “This theme looks at the world with fresh eyes: it drags society out of its daily coma and urges people to go beneath the mass of detail to see the beauty in the everyday and transform the ordinary into the extraordinary.”(WGSN) The design inspiration board I find which are color, woven panels, routine textures, webbing, D-ring lacing and outdoors technology. The contrast-color sole is bold primary or seasonal bright is added to wedge and cleated soles across both. Also I look up the Nike ACG outdoor series have very professional and high technique outdoor sneaker. For the Chaco winter series I deiced the layering idea for the general orientation. The main material of the upper of the sneaker is suede. And there are printed mesh material under the suede piece. The suede material is a popular material used in sneaker and the printed mesh material should give the whole sneaker and ankle greater protection. I choose speed lace hardware and climbing-rope laces to give the whole sneaker more outdoor looking. Those materials are not only durable for the hiking, but also easy to take down. The sole have two parts, which is EVA midsole, and Rubber outsole. The EVA material is a synthetic material that relieves the overall weight of the sneaker. The Rubber material make the sole strongly and wearproof. The color of the series that I choice army green, brindle, gray and black. Those are all color form nature, which doesn’t show the dirt so much. And also let people steady and simply. The midsole have inkjet printing that gives more detail of the sneaker. There are both of sneaker use the webbing techniques form
This pass weekend I went fishing, and along the way I had stopped at Bi-Mart for some waders. The waders looked good, however, after walking several miles in them, one will realize the flaws of these waders. My feet were bruised and with blisters. The problem is apparent, people have different feet. That’s when I got the idea! What if there was some sort of foam or putty that conforms to your foot and then solidifies. This technology would be some kind of liquid gel that hardens to into a comfortable durable gel. One may spray or insert the gel, and then put their shoe on, and within minutes the liquid gel would harden to the contour of your foot. This gel would be non-toxic; safe on humans and the environment. That would be like a custom
point of sale system. The POS system is a perpetual inventory counting method that electronically records items immediately upon their point of sale (Stevenson, 2015, pg. 552). In other words, as a cashier scans a customer 's groceries, each scanned item is automatically recorded in the system and deducted from the store’s inventory. Implementing a point of sale would benefit a business’s inventory management function in several ways. First, the POS system will provide managers with a continuous flow of updated information (Stevenson, 2015, pg. 552). As a result, the information will provide more accuracy when used for sales forecasts and analysis, which substantially affect inventory decisions. Continuously, this inventory system would also allow greater flexibility in the sense that it can be wirelessly linked to the main company’s inventory system, creating a network of the company’s inventory systems. The POS system is capable of tracking many operations at once and can be modified according to management’s needs (MacCarthy, n.d.). This flexibility would undoubtedly benefit a large company like Wegman’s with many store locations. Lastly, the system is able to help businesses maintain a high level of customer service. Because the system gives customers a receipt with the price and quantity of each item purchased, the customer is able to see exactly what he or she purchased. This practice
Nike subcontracts the production process of its footwear to 900 contract factories located worldwide with Asian developing countries such as China, Indonesia and Vietnam accounting for the bulk of total world production. Production of the footwear is based on a vertically integrated model. In the primary stage, raw materials such as rubber, leather and plastic are extracted from places located in close proximity from the factories. In the secondary stage, the extracted resources are sent to the factories or “Sweatshops” for manufacturing. It should be noted that the whole production process of Nike footwear are being carried out by independent private contractors.
New Balance International was founded during the early 1990s specializing in orthopedic footware to improve the fit of their shoes. Today the company continues its founding values in a highly specialized niche business of providing athletic footware in a wide range of widths and sizes which distinguishes the product from its competitors. With the philosophy of “one size did not fit all,” New Balance expanded operation from the US and currently markets its product in 160 countries in six continents. New Balance Inc. first appeared in South Africa In 1976 when a Durban based company obtained a license to distribute the brand. Under this distribution plan the company held a very small percentage of
Moreover, Bata Company is engaged in building trust lies with the customer by implement the customer relationship management. If the customer is satisfied and loyal to their brand, the company will grow and give good returns to the investors which will further remunerate and motivate their employee. Customer relationship management also help the management level of Bata Company foresee the opportunities in the market growth and a rapidly expanding middle class. For this, they can systematically transform Bata into a completely customer centric organization to serve this new market.
A point of sales system is another great addition to nay growing business. The POS has many functions. The POS will contain a register for purchases, have the ability to track reports and menu maintenance, improve service speed, and enhance customer service. To increase service speed, the POS efficiently makes order entries that are then transferred to the kitchen. This results in fewer mistakes and the ability to track ticket and wait times. The system also has the function of splitting checks and makes card processing simple. This ensures more seat turnover and shorter wait times for the customers. In return this has the potential to increase revenue at every service. POS can create loyalty programs that ensure repeat customers and generate more sales of gift cards. POS provides operational control that analyzes “detailed reports to drill down on sales, server and restaurant performance” (NCR 2013). A software like ALOHA also provides a training interface that allows new employees to learn the system quickly. This reduces the cost a restaurant would ultimately have to pay on training new employees. The ALOHA system is very up to date with new technology trends, providing mobile and digital signage and cloud based solutions and social technologies. The variety of functions in a point of sales system makes it very attractive to new restaurant owners. The cost of a POS can range hundreds to thousands of dollars based on the size of the
Mr Mathangi Alagiah (42), his wife Priya (38) and their 13 year old son Maha are Sri Lankan Tamils who spent four years living in a refugee camp in India. They fled to Australia due to the living conditions in Sri Lanka. In Sri Lanka there has been a dramatic growth in rates throughout different minority groups especially Tamils. Tamils comprise of approximately 18% of Sri Lankans population (http://countrystudies.us/sri-lanka/25.htm U.S. Library of Congress, (2014). and Tamil is also one of the Dravidian languages found exclusively in peninsular India.