Information from the sales sub-system can be used by management in conjunction with information from the other subsystems to make decisions regarding the direction and day to day operations of the business. Information from the sales subsystem is vital in the preparation of the income statement, balance sheet, profit and loss statement. Sales data is also used by management to manage cash flows and prepare sales budgets and targets. Information can be obtained through customer satisfaction surveys, feedback from customers via any number of channels including facebook and customer reviews along with information from the inventory and shipping sub-systems can be used to highlight areas for improvement and aid in planning activities for the business. If your business is not able to meet the needs and expectations of the customers the highly competitive nature of the market means that there are many other businesses both online and traditional retail stores that are more than happy to accommodate them. The information gained from the sales sub-system can be examined on its own to show specific areas where significant success or failure has occurred. It can just as easily be viewed in conjunction with information from other sources to aid in the long term planning for the business, identifying potential problem areas and showing the strengths of the business. Inventory management system: The data in the reports produced by the inventory system can be used to support
Analyzing Amazon’s case study it is clear that the company live up to its name by putting emphasis on the quote ”your customers are not always right, but they are always your customer” as the organization is built on customer feedback with a target of total customer satisfaction (Hyken, S. 2015). Organizations in today’s world know this but somehow still fail to meet customer’s needs. I would change my organization approach to marketing by doing a door to door survey to get customers feedback on each and every one of my products and service offered, set up online live chat or message drop-box just to get a general idea of what customers want and how can my organization satisfy them. Based on experience, reading and doing a general research on assignment one, it is clear that customer voice do drives strategic marketing decision, however, I learn that the best way to ensure that all these strategic marketing decision are implemented and executed where necessary, with maximum results, is to ensure that managers overseeing the implementation of these process ensure that all the necessary steps are taken with constant follow-up in order to have the required results and these processes maybe the deciding factor in a company growth and development. In all industries includes Amazon’s ecommerce industry is no different, there are competent and qualify team members that will help curve the shape of an organization, not to mention the suppliers who products the organization depends on. Going forward these are the areas we must focus on if we intend to get any results because if a company want the best then we must recruit the best, if we want the best product we most source the best suppliers thus proving to our customer that we want the best for them, then follow it up with fast, efficient and reliable delivery of products at the best possible
Typical outputs from the system would be a daily report that provides a checklist of the inventory held in each location. Another output from the system would to provide a trend for peak hours of operation to assess the need for allocating resources.
I decided to use the FTI consulting Inc firm to help you understand how this FTI consulting Inc helps other businesses and small owners to create a successful online retail marketing business. The FTI will illustrate through this research how to successfully market your product online. Keep in mind, that FTI is one of many firms that can help you to make your online store a success story and that there are many ways to go about marketing your company online. I choose this FTI consulting firm, because they know how to navigate a company’s product into the online marketing world. They will help us to understand how to not only get your successful product online but how to expand your company to other medias online. What I like about this FTI firm is that they will illustrate the advantages and disadvantages as well showing you what you need to do to become one of the successful company’s online. The greatest part of online retail store is that anyone can become an online retail owner if they follow the necessary steps outline in this report and to use the FTI consulting firms’ strategies to become successful in operating an online retail store. In addition, the BigCommerce firm owned by Mitchell Harper, and Eddie Manchaalani will help anyone who is serious about starting an online company regardless of your experience and knowledge of business background.
Moreover, the goal of any sales analysis is to isolate the pieces which comprise the entire organization to facilitate the recognition of areas that require attention (Russell, 1950). Accordingly, this deconstruction promotes comparison of financial data which allows managers, such as Lydell, to gain a stronger representation of the organization. This contributes to the management of employees and improved sales potential through the identification of areas that require supplementation or highlighting the areas that are functioning optimally (Russell, 1950). Lydell can use the internal financial records to capture data on sales history and patterns of the business. This information would give him the knowledge to gauge current sales and provide insight for recognizing positive or negative sales trends, including changes in customer habits. Lydell could also use the information regarding sales volumes and customer locations to gauge territory concentration and sales boundaries.
The purpose of this course project is to address the ongoing issues surrounding my companies, REI (Recreation Equipment Inc.,) inventory management issue and to see if we can find a software program better suited to the companies needs. The goal is to find products quickly and efficiently. Customer satisfaction is key to driving sales and profit in any company. As a result a software upgrade is certainly needed in order to compete with other companies in the same industry.
Based on the information provided in the above indicated inventory analysis the financial controller and all interested parties within management will be better able to become informed regarding all indicated irregularities, material misstatements or inventory shrinkage . Furthermore, this will assist the management team in understanding and more effectively managing
This information is captured for accounting and inventory, but too few companies actually use their point-of-sales system to collect customer information. More clicks-and-mortar companies will not only start collecting information at the cash register but will integrate this information with data collected online and from catalog sales, feeding it all into marketing automation systems." http://www.agilebrain.com/seybold.html Several factors have a role in the success of any e-commerce venture. They may include: 1.
Capability in dealing with Asset Inventory: Does the solution provide an asset inventory database? Is it feasible to extend the database schema to support additional fields, such
In order to gain information about the wants of the customers in each region, Macy should collect enough data from its Transaction Process System. The transaction process system will enable Macy’s to view what is being bought in each region. This enables for more accurate data to be implemented in the information systems. When data is collected form TPS, then management can collect the statistical data from the market and analyze them using analytical software applications, such as Hadoop. Another way that they can collect information for their information systems would be to create online campaign, a survey, whatever is available.
Appendix C is the quarterly inventory table I conduct in Daan, which is prepared by physically inspection and comparison with financial record. This task requires me have sufficient knowledge about the flow of inventory, in order to obtain the accurate number of goods.
Inventory counts will allow you to better manage stock levels, anticipate demand and prevent loss and theft. When tracking inventory, be sure to include maintenance items, equipment, furniture and any rentals. Because physical inventory counts are monotonous and laborious, consider dividing up the project into different sections or stages. For example, you can count by area or department. This will allow you to perform one part every day and reduce the burden on your employees. Be sure to regularly perform the inventory every quarter and use identical methodology and documentation. After a few years, you will be able to digitize this information into a spreadsheet to analyze past trends and make future
After critical analysis and research, we were able to discover and gain information on the behavior of our customers. It is evident, that the main focus of our customers is that they are looking for a one stop shop for all of their wants and needs. Furthermore, we were able to break down our analysis to three separate categories: social, personal, and psychological. Socially we took a look at the communities we are looking to engage, after our research it is evident that are target communities are those in which are significant family areas, particularly areas with a lot of schools as well as communities that are around median income. In a personal perspective, were are looking to target areas that have a lot of children as it relates back
The determination of these values requires you to add columns to the Inventory Analysis worksheet. Mr. Milligan asks you to use the worksheet provided. As Mr. Milligan will use the Inventory Analysis worksheet during a presentation, he wants the worksheet to have a professional appearance. To enhance the worksheet’s appearance, you include an appropriate header and format to the worksheet, column, and row labels. The header should display the name of the business, the name of the worksheet, and the current date. As you construct the worksheet, you use the currency format for all columns containing dollar values. Also, for any column that contains a percentage, you