This is not only about management, but more sort of a way to eliminate costs, that are not essential for production process. Most businesses that manufacture their product spend most time on inspecting quality and repairing faulty products, which aims to eliminate errors from manufacturing process, in this simple method. Greatest benefit of JIT is that business reduces operating cost, and therefore has advantage over its competitors. There is also a benefit of reducing manufacturing times and shortening delivery
Our last weakness is that we are not a big company. We are not well known as some of our competitiors. Our opportunities would include advertising our store across the world to attact more customers due to we are a small clothing company. We also could improve our customer service to fulfill our customers needes. Providing excellent customer services would gain trust with our customer and keep them coming back to The Jordaz.
Selecting vendors from the expense test, complete the following steps: • Agree stated payment terms and vendor information to vendor master. • Verify that written reconciliations to statements were performed. b. Tender Process • Review and document the tender process. • Determine whether the provisions of the tender are considered, such as, freight terms, discounts, and service.
Question B Compare and Contrast Managerial Accounting and Financial Accounting. Be sure to discuss how managerial accounting is useful for providing information for at least one of the following management functions:
The RFID system may reduce operation costs in the long run. The combination of all above mentioned advantages will result in improved convenience On the other hand, the disadvantages of implementing this strategy include but not limited to reduction in staff because of the automation of many staff duties. Also, the high cost of buying, implementing, and maintaining the technology. In addition to that, having such technology requires training the sales associates on how to use RFID system. Finally,
If they couldn’t sell frozen products, people would most likely move to another supermarket with a wider variety of products on offer. Having stock displays isn’t very important for Sainsbury’s. They are useful to promote new products or offers. They catch the attention of customers making them notice what’s on offer ergo the product will sell faster than being on an ordinary shelf. Employees of Sainsbury’s represent the company to customers in stores, this is why uniform is important.
Cost savings can be computerized accounting programs reduce staff time doing accounts and reduce audit expenses as records are neat, up-to-date and accurate. This system allows them to record business transactions accurately and generate financial reports quickly for management review. However if Rumble carry less transactions this means they won’t need to have computerised accounting system because it is very expensive for them to use. In this case it is best for them to have manual accounting system because it is reliable, cheap and easy to use. They can easily do their transaction without problems.
Nordstrom shares many characteristic with other retailers such as their generous exchange policy, superior customer service, the product quality. Nordstrom is also known for their generous exchange policy even though they do not carry the item in the store they are willing to the customer a refund. Nordstrom may lose money on the returns, but maintain a consumer relationship with their consumers is top priority. Nordstrom shares the same characteristics as Macy, JC Penney’s, Sear, Kohl’s and Dillard’s who also sells clothing,
Returning at a store is faster because all it takes is a drive to the store and going through their return procedure as opposed to waiting for your returned item to ship and for the appropriate department to process the return and credit your account or credit card. Though there are often size charts and detailed product descriptions online nothing compares with being able to feel and check out the product for yourself. It is nice to have the option of trying on clothing or accessories and seeing how they look on your body or face shape. It is even nice to feel the materials of non clothing items such as furniture or other household items. I for one do not like to return anything if possible and trying something out before I buy is one way I eliminate that problem.
This is where we beat our competitors. We do not just have racks of the same things in the same style and shape with the expectance that it will look great on everyone. We have the latest fashions so you can dress like a model and offer tailoring at no additional cost. Our prices do not rise because of the size. Our employees give up their time to do this because they themselves know the meaning of wanting to feel