Currently Competition Bikes purchases inventory for production the month before it goes to the production line. To ensure that inventory is being used in a smart way, the company should negotiate terms with fewer manufacturers to purchase materials on consignment. This would allow the materials to be stored at the manufacturing facility to be available on demand without the necessity of carrying that inventory in the books. The inventory would then be purchased and paid for at the time of use. This reduces the carrying costs of the inventory that is ordered as well as insuring that unused items are not held from month to month.
For example, in both surveys there is an approximately a 60/40 split on customer satisfaction for customer service representatives being courteous (Apollo Group, Inc., 2011). Instead of looking to improve on their products and services, perhaps the company should be looking to their customer service. The marketing objective could improve the amount of people agreeing with the level of customer service. Customer service is as important, if not more so, than the products themselves. If a customer is not happy with service they received in a store, they are more likely not to return regardless of the quality of the product.
While many will only be looking for other dollar stores following exactly the same format, that is incorrect. In today's marketplace all types of retailers are adding dollar departments and dollar aisles to their stores. Every one of these companies represents a threat to your business. It's important that you know them and what they are doing. Determine how best to use your company's strengths to overcome the strengths and overall performance of the competition you've found.
The applicant may be told that their job role may tail off into different roles during the time period they are there. For example for one year they might be behind a till, dealing with the successful transaction of a purchase from a customer. In the next year, the applicant may become a sales assistant which is responsible for dealing with customer’s queries and questions which if done successfully may lead to customer satisfaction and a high level of customer service will be maintained. The applicant has to be aware of this so that they do not completely focus on one job role and get misled on the fact that they only have to deal with one role. After the job
He believes that the premoney valuation of the company should be at least $10 million based on the potential profitability of the company and the successful efforts to date in lining up several key sponsorships with national retailers. You have been hired by Chapin as a consultant to advice on the valuation and how to negotiate with Biddle. Please use the following topics as a GUIDELINE ONLY: 1. How good an investment opportunity is Mindersoft? What are the key strengths and weaknesses of the opportunity and business plan?
The bottleneck is being used by a bottleneck operation to control the flow through the system and into the market. For example, if there are three machines on an assembly line and the first and second machines can produce 10 units in a minute, but the second machine can produce only 5 units in a minute, a bottleneck will be occurred in this case. This is because the third machine cannot produce enough units to keep pace with the other machines. 3. What are the production scheduling principles discussed in The Goal?
Overstating projections A problem that can arise from starting the budget is when the person who created the budget gets an idea that the business will sell more items than the business is realistically able to do. If this happens the business will spend a lot of money on items that the budget believe the business will sell but in reality the business will not be able to sell this stock. IF the business is in the food industry and this problem happens it will end up going to waste as food goes off. This will result in the business losing a lot of money which they could spend elsewhere and if the business doesn’t have much money this money could have been used to pay off their expenses. If the business does lose this money they might
Gourmet food is more expensive to purchase, than food at a regular grocery store. A gourmet specialty shop has higher fixed costs. Since there are no food preservatives in the food sold there, there is a high turnover rate for food expiration dates. The product waste potential is high, and ordering needs to be constant. An automated ordering system will help with this issue, as well.
Each store needs to do their own hiring and firing of employees. Kathy needs to explain to the managers her standards for employees and can check periodically to see if those are met. Each one of the managers should also do it’s own ordering. At the end of the week, all three managers need to come together with their needs that way they can continue to order in bulk to save money. One manager can order for the week and then alternate each week.
Business @ Work – Credit 2013 Chelsea Moore Section 2 4.a.) b.) One item I have selected for my Job Specification in my Production Assistant is “re-order stock from supplies when required” because if the assistant could do this then it would mean that I wouldn’t run out of stock or be low on stock and I wouldn’t have too much stock that I would have to put in storage and lose out on money by paying for the storage. Another item I have selected for my Job Specification in my Production Assistant is “Carry out safety checks on all equipment on a weekly basis” and this would mean that I could make sure all the equipment was working and if it wasn’t I would know if I had to buy new equipment and if something wasn’t safe I would know so I could get it fixed. c.) I used the Job Specification and Person Specification when recruiting and selecting my new employees because I can see what skills the employee would need and I can make sure the employee has the skills they need the job.