Give specifics: • Analyze how your company added value to the economy with its products and services. • Define the methods you used to recruit staff, identify and implement new technologies, to get feedback from your customers, etc. Provide these types of details as they apply to your venture. • Analyze and identify ways that your customers may perceive a higher value in your products or services due to your activities and assign a numerical value or representation for this value. • Look for your deficiencies in the execution of company policies and procedures.
What other factors need to be considered? Benefits: Woodmere and HomeHelp can earn many benefits from this proposal. As I mentioned above, both companies are more likely to respond faster to customer’s demand, and reduce inventory carrying cost. HomeHelp will have the ability to expand their business and reach more customers. In short term, HomeHelp can immediately meet the demand of Propartners by reducing delay
This should reduce the likelihood of managerial dishonesty in the pursuit of increased personal income and increase managerial seeking of organizational goals. 2. The human resources function should take a stronger role in the organizations. In sales, people are the key asset, and more attention needs to be paid to managing them here. 3.
It is still important however that they streamline and perfect processes to lower cost and raise overall customer satisfaction. When is comes to managing finished goods and inventories WCC is experiencing a high volume of finished good storage in order to keep up with sporadic demand. To help combat this WCC should consider Just-in-Time techniques, which is receiving materials needed to produce goods when they are needed for production to eliminate storing. WCC should also consider looking into creating or modifying the current safety stock with combined uncertainty practices, which will help WCC to only store enough manufactured goods to cover the possibility of an influx in a certain items sales in order to keep stock levels low. WCC also needs to have a good match
Do you think Altera’s new strategy will be successful? What are some advantages and disadvantages of the new strategy? Yes, I think their new strategy will be successful, because their new strategy offsets some of the risk associated with carrying too much inventory, since they only build finished products to customer orders and build die banks to stock. The intent of this strategy was to improve visibility into customer information, inventories and build plans, facilitate product development collaboration, and improve Altera’s inventory management. This allows them to reduce safety stock levels and inventory holding costs as well.
How has technological innovations affected your organization? Technology impacts the cost of production. Technology helps in lowering the cost of production and making economies more efficient – producing more outputs with the same number of inputs. Producers learn more about various aspects of production in which they specialize, and this attitude of them leads to more production. Innovation impacts the cost of production as well.
Lean’s solution provides benefits to outsourcing buyers. They include: ￼￼ Providing great value because the outsourced supplier can complete the work more efficiently and with higher quality Giving the supplier more flexibility to craft a better solution. Some suppliers use formal outsourcing models, which limits their flexibility. Focusing the supplier’s attention on the value the customer is looking for. By working backwards from the end state of the customer’s value, the supplier is able to design the process and then drive to that value.
Supply chain management is the complex process of managing systems to ensure that products are where they should be when they should be there, while minimizing costs and creating opportunities for profit. It is the strategic linkage and collaboration of all departments in a firm that enhances the product flow through the firm, which eventually adds value to the customer. Firms can lower costs, positively differentiate their services, constantly perform value-added services, increase flexibility and responsiveness, and engage in constant process innovation by incorporating best-practice supply chain management into their system. Not all supplier-buyer relationships are equal in value, and therefore, it is important to segment customers based on service needs and develop the appropriate relationship for that particular requirement. Robert J. Trent discusses four types of relationship management in his article “Why Relationships Matter.” Counterproductive relationships have no value because each organization is working against the other, this is often called a lose-lose relationship.
Computerised accounting systems allow managers to identify clearly and accurately the company’s financial position and so they can see where they need to makes changes in order to reduce their costs. This further benefits the company as the computerised accounting systems provide reports on stock, evaluation, payroll, customer accounts as well as profit and loss which contribute to the quick adjustments the company can make in their business strategy and reduce their
The findings of the study concluded that CRM technology “resulted in stronger customer relationships and a better understanding of buyer needs” (RODRIGUEZ and HONEYCUTT). Furthermore, a CRM strategy emphasizes internal collaboration flattening the company hierarchy, creating a more horizontal structure between departments. This is further demonstrated by the study where it was found that B2B salespersons were better able to gather information from different functional areas of the company through CRM collaboration. Furthermore, an effective CRM strategy can be directly linked to faster closing rates, as salespeople have more insight into the organizational buying behaviour as well as where they are in their buying decision. By more effectively managing their leads, salespeople can generate revenue faster with a CRM