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Inventory Management
The Inventory System at pple
The paper looks at the inventory system utilized by pple Inc. ccording to the 10-k pple account for the inventory using a first in first out (FIFO) system. The stock is fast moving and the efficiency which results in the company only having approximately five days worth of stock on hand at any point in time is facilitated through the use of a perpetual inventory system. This operates in real time. Inventory on hand is also minimized with finished products being shipped directly to customers from the outsource suppliers. There are alternate approaches pple could have adopted, such as the last in first out (LIFO) entry system. LIFO assumes that the last deliveries into a firm will be the first infantry to leave a firm. The firm could also adopt a periodic inventory system, where stock levels would only be updated periodically, assessing…
Apple Inc., is a highly successful firm. Inventory management is argued to have played an important role in that success by ensuring the goods get to the consumers in the right manner in a highly efficient and cost effective manner (Berka, 2009). To appreciate the inventories system it is necessary to look at the way in which inventory is accounted for, as well as the underlying inventory management systems.
Apple Inc., account for inventory using the first in first out system (FIFO). This is one of the most common methods of inventory valuation, calculated based on the assumption that inventory will all be utilized in date order. As inventories received into the company, it is assumed that the older stock will be utilized to fill the incoming orders (Elliott and Elliott, 2011). Therefore, valuation is relatively simple, using the most recent deliveries in reverse order to account for any inventory which remains the property of the company when the value is calculated. The FIFO is a theoretical approach, as the valuation will not always reflect the actual flow of the stock, although it will usually be rotated in line with the FIFO principles. The actual valuation given to the inventorying on hand will be based on the lowest of actual cost, or market value, whichever is lower (Apple, 2012).
The current inventory system was developed by the current CEO, and former COO, Tim Cook. Cook was brought in when Bill Gates return to Apple, at a time when the company was facing a large number of challenges (Nui, 2012). The Apple inventory system was a mess, and a great deal capital was tied up in the stock. The primary motivation in the changes created in the inventory management system were to eliminate the in-house manufacturing which would significantly reduce the amount of working capital tied up in stock. Furthermore, the systems were developed in order to streamline the inventories system to reduce the amount of goods that had to be held by the company. Tim adopted the view that "in the employee is evil," a term that has subsequently been widely cited (Nui, 2012). In order to hold minimal levels of inventory that still ensure there is sufficient to meet consumer demand, a perpetual inventory system had to be adopted. At any point in time the company can refer to the inventory system in order to know exactly what stock is held and where,
Inventory System Upgrade
The project aims to develop a system whereby inventory maintenance would become easier, efficient and less time-consuming. This proposal includes a change in management practices, use of advanced technology and a system that would ensure minimum deterioration of facilities. Four school administrators will take part in the implementation of this plan. Out of them, the most experienced one is selected as project leader because only implementation and planning can be best handled by one specialist. "Whether an administrator or project management specialist, a single individual should provide the project leadership necessary to effectively manage the time, cost and quality of a project from inception to completion." (Gaydon, 2002)
Needs Assessment careful analysis and examination of school facilities reveal that inventory system needs to be completely revamped in order to avoid extra costs that are incurred every year on unexpected wear and tear of school facilities. It has…
Bibliography
Focuses on funding problems for school facilities and how they can be effectively removed: Facilities Management, American School & University, Dec 1, 2002
Discusses successful formulation and implementation of a plan. Tony Gaydon, Managing Success, American School & University, Aug 1, 2002
Myes-Biggs is a pesonality inventoy system that is based on Cal Jung's theoy of pesonality types. It has been well eseached and is a popula model. Pesonalities ae classified by diffeent categoies in which thee ae two poles by someone can be ated between a spectum that lies between them. Fo example, someone can be intoveted o extoveted o somewhee in between the two poles. This measue is based off of a self-epoted instument that is non-judgmental and is stictly to help people undestand diffeent pesonality types in themselves and othes.
Explain each of the fou pais of lettes.(I and E, S and N, T and F, J and Individuals ae classified as:
Extoveted o intoveted (E o I).
Sensing o intuitive (S o N).
Thinking o feeling (T o F).
Peceiving o judging (P o J).
Intoveted and extovesion deal with how likely a peson is to engage with…
references of working when considering if an employee is good at their job. A more objective performance measure will be a better indicator than a whether or not the individual fits in with other personality types. Sometimes a level of friction is actually good in an organization and can drive employees towards high performances.
8. Identify one person with whom you tend to clash. Can you tell if their type is different from yours? What would you say is the strength of their type and how does it serve the organization?
In many cases I have conflicts with very detailed oriented people that have more trouble seeing the bigger picture. I can definitely tell their personality is different than mine because they focus on the steps or details while I typically frame things in the end goal or bigger picture. It is difficult for me to work with this type of person sometimes because when they focus too much on each step, then I can get frustrated and fatigued. However, at the same time, if I work with people who are more like me then we can lose focus of the details or the individual steps and move too fast. I think it makes sense to have the two different personality types work with each other as a type of balance. However, to work well together the two types of personality must learn to respect each other's differences.
Inventory Policy
Controlling inventory is a control of 45% to 90% of all expenses related to business is very important also to see that the business has the correct goods on hand so that it does not get into stock-outs, or shrinkage of inventory due to spoilage or theft, and helps in providing a correct accounting. When inventory is not maintained properly, then the major part of the assets of a retailer gets tied up into inventory, and probably these are the wrong types of inventory that do not sell easily. The reason for low sales may be due to the age of stock, worn out, being spoilt through storage in the shop, out of date for the users, wrong in sizes or colors, or may be stored in a wrong type of products that are not liked by customers. (Inventory Control) The importance of controlling capital is recognized even…
References
'Berkshire Hathaway INC" Retrieved from http://www.berkshirehathaway.com/letters/1988.html Accessed on 25 June, 2005
Boyles, Bob. "GMROI and Turn & Earn" Retrieved from http://www.smarterdistribution.com/article35.htm Accessed on 25 June, 2005
"FIFO" Wikipedia, the free encyclopedia. Retrieved from http://en.wikipedia.org/wiki/FIFO Accessed on 25 June, 2005
"LIFO" Wikipedia, the free encyclopedia. Retrieved from http://en.wikipedia.org/wiki/LIFO Accessed on 25 June, 2005
Inventory
The organization I want to study is Wal-Mart, the world's largest retailer. Wal-Mart is a retailer that sells a wide range of goods, including food, and does so in many countries around the world. They are the biggest retailer in the world, and one of the biggest companies.
I chose Wal-Mart because its supply chain management is famous. They are a good case study for inventory management. The basic business model for Wal-Mart is cost leadership. This business model relies on selling high volumes of goods on slim margins, so there is considerable emphasis on the part of the company to have a highly efficient supply chain. Wal-Mart has nearly $45 billion in inventory, but turns it over 10.6 times per year, or once per month, roughly.
Wal-Mart is known to use a number of intriguing technologies to help with its inventory management. The company uses RFID to keep…
Inventory Process Improvement
his work is focused on "Inventory Process Improvement" and will be comprised of Part One, or the Executive Statement to this work, Part wo which will consist of process flow charts, procedures, or policy statements which articulate the business requirements in terms of specific process or business development needs, Part hree which will include software and hardware recommendations for the information technology solution and Part Four which will summarize the project proposal.
his project is centered on "Riordan Manufacturing." Manufacturer of global plastics, Riordan, employs approximately 550 individuals whose salaries total an estimated $46 million on an annual basis. Listed by Fortune 1000 as having $1 billion plus yearly revenues Riordan Industries completely owns the company. he product line is inclusive of containers for beverages made from plastics in Albany, Georgia while Pontiac Michigan produces plastic parts that are custom made and the Hangzhou,
China plant manufactures…
The original processes within the company involved a lag between making the sale and ordering the materials which slows down the entire process within the company costing time and money. Further the lack of automation results in a large loss of time and revenues for the company each year. A system which uses automation in ordering, scheduling receiving, shipping, and building of parts within the company as well as has the ability to after a one-time entry to track real time information in relation to company inventory and cash on hand is a great asset to any company and will result in Riordan Industries saving of time, expenditures and will streamline the company which should show in a reduction in costs and a raise in revenues upon implementation of this inventory management system within all four locations of Riordan Industries.
Microsoft Net (2004) Driving Business Value from the Microsoft Platform) available at: http://www.microsoft.com /NET/Basics.aspx
Ibid.
Inventory apacity and Whether Insurance and osts of Storage Increase as Inventory Increases
At least $6,010.00, again this number may change depending on how many orders the company places per year.
Generally, $1,000 depending upon whether this number increases to meet a larger inventory capacity.
couldn't answer it…turned in early so the client would have enough time to answer it himself.
The earliest due date rule requires the job with the earliest due date to be selected. The job with the earliest due date is selected first. The user inputs the number of jobs along with their names, processing time and due dates of each job or the use the data values given at the starting point. Next one sorts out the earliest due date among the jobs. Then calculate each jobs flow time by using the processing time; the flow time is the accumulations of processing time for each…
Chase, Richard B, Jacobs, Robert F. Operations and Supply Chain Management Textbook: Operations and Supply Chain Management; 13th edition
Krajewski, Lee, The value of production schedule integration in supply chains, Decision Sciences, Monday, October 1, 2001
Vokurka, R.J., & O'Leary-Kelly, S.W. (2000). A review of empirical research on manufacturing flexibility. Journal of Operations Management, 18(4), 485501.
As is shown in the case, CCBCC begins with an intensive commitment to the initial collaborative planning phases of ensuring front end alignment with their distribution channel partners. Joint business plans ensure the company has the ability to effectively plan for spikes in demand more effectively than traditional, and less flexible means allow for. The collaborative planning phase of the CPF Model is essential for ensuring a high degree of logistics coordination and collaboration has been achieved (Bonet, 2005). The collaborative forecasting process including sales forecasting, exception management and resolving expectations, all essential for making a strategic commitment to CPF function correctly, are also evidence in the CCBCC implementation (Ireland, 2005). Finally the steps of creating and fine-tuning order forecasts, defining identifying exceptions and resolving exceptions to drive orders are also evidence in how CCBCC creates demand management workflows with the applications installed. It is very important to realize that…
References
Barratt, M., & Oliveira, a. (2001). Exploring the experiences of collaborative planning initiatives. International Journal of Physical Distribution & Logistics Management, 31(4), 266-289.
Bonet, D. (2005). A new approach for understanding hindrances to collaborative practices in the logistics channel.International Journal of Retail & Distribution Management, 33(8), 583-596.
Crampton-Thomas, P. (2006). Enabling profitable growth through demand driven supply networks. Supply Chain Europe, 15(2), 18-21. R
Ireland, R. (2005). Abc of collaborative planning forecasting and replenishment. The Journal of Business Forecasting,24(2), 3-4+.
Systems Implementation
System Implementations
Describe the company, the business problem the company was addressing with the system implementation, the system chosen to implement, and the company's rationale for selecting the system to solve the problem.
Wal-Mart, a company that enjoys a significant market share in the U.S. food industry, rolled out its multi-phased project. This marked the beginning of implementing the company's long ditched in-house IT systems, which favored their operations with vendors. However, implementation of the SAP system is already raising red flags. This is because the system comes with costly financial works, which have strained the company (Scheck, 2010). While the project was aimed at leading the firm to growth, Wal-Mart recorded a significant sales decline. This was one of the company's worst performance over three decades now, been beaten by new corporations from Germany and South Korea. As local competitors maintained the pace set by Wal-Mart, most…
References
Hellens, L, Nielsen, S., Beekhuyzen, J., & Ebrary, Inc. (2008). Qualitative case studies on implementation of enterprise wide systems. Hershey, PA: Idea Group Pub.
Jacobs, A.J. (2012). Information system implementations: Using a leadership quality matrix for success. S.l.: Authorhouse.
Ramachandran, S. (2007). Digital VLSI systems design: A design manual for implementation of projects on FPGAs and ASICs using Verilog. Dordrecht, Netherlands: Springer.
Scheck, D.E. (2010). Implementation project for traffic signal monitor/recorder and analysis system. Athens, Ohio: Dept. Of Industrial & Systems Engineering, Ohio University.
Systems Media Table: Comparison
System
Uses
Word processor
The main purpose of this program is to construct sentences of the perceived information and manipulate paragraphs to form a word document. The program uses a display format 'what-you-see-is-what-you-get' to enhance the quality of the expected hardcopy.
WordPerfect and Microsoft Word are mostly superseded by both organization and personal computers to perform functions such as word formatting, letter processing and some simple designing. Accordingly, it is the most frequently used program in day-to-day operation.
It is used to type the text, save, and format and print the text.
It is used to insert pictures into the text page.
It is used to spell check the text document.
It is used to prepare letters and other word documents.
Hierarchical database
This kind of database system is to display a structure that would relieve the presentation of information using parent to child relationship. The…
References
AJ, W., & al, e. (2007). The role of decision aids in promoting evidence-based patient choice in Edwards A and Elwyn E (eds) Evidence-based patient choice:. O'Connor A and Edwards A.
European Commission DG Health and Consumer. (2012). Guidlines on the Qualification and Classification of Stand-alone Software used in Healthcare withing the Regulatory Framework of Medical Devices. Articles of Directive 93/42/EEC .
Eysenbach, G., Powell, J., Gunter, T.D., & Terry, N.P. (2005). The Emergence of National Electronic Health Record Architectures in the United States and Australia: Models, Costs, and Questions. Journal of Medical Internet Research: The Leading Peer-reviewed Internet Journal.
Fesenko, N. (2007). Compression Technologyes of Graphic Information. International Journal "Information Theories & Applications."
To the extent the totality of circumstances suggest that possibility, even acceptance of the most nominal gratuities (i.e. A cup of coffee) is ethically inappropriate.
Similarly, even where the gratuity involved is of nominal value and there is no potential misunderstanding on the part of the individual proffering an otherwise appropriate gratuity, there is the issue of creating the appearance or inference of an improper relationship from the perspective of others observing the exchange. For example, while the proffer and acceptance of a single cup of coffee is excusable within the framework of ordinary positive community relations, the conspicuous regular transfer of even nominal gratuities in the presence of third parties can create an apparent inference of inappropriate influence regardless of whether or not that inference is necessarily accurate.
Conclusion
The SOI is intended to ensure that police officers do not misuse their duly authorized latitude to take different degrees…
References
Conlon E. (2004). Blue Blood. Riverhead, NY: Bantam.
Peak K. (2002). Policing America: Methods, Issues, Challenges. New Jersey: Prentice
Hall.
Schmalleger F. (2008). Criminal Justice Today: An Introductory Text for the 21st
System Operational Feasibility great deal of time and intellectual resources go into the conceptual design stage of a systems engineering process once a need is clearly defined by the end-user. However, this initial development step is a moot point if the product is not operationally feasible, which means, according to Benjamin Blanchard in his book Systems Engineering and Analysis, "that the system will perform as intended in an effective and efficient manner for as long as necessary."
In order for the systems engineer to determine operational feasibility, it is necessary to properly integrate the design-related specialties such as reliability, maintainability, human factors and supportability.
Reliability is one of the most important design elements, since it confirms or denies the long-term use of the product without major maintenance and repair. Unreliable systems do not meet the original project goals and lead to unnecessary expenditures of valuable resources. Simply stated, "reliability is…
Inventory Management System
An inventory management plan can cost thousands of dollars, depending on what vendor/software is used, but the same principles can also be applied in Excel for much less. Since the cost of lost merchandise is $1,000/yr, the Excel option seems to be one that will have a reasonable return on investment, though that depends entirely on how much time is taken to keep the inventory up-to-date. OI is important because many of the most effective inventory management systems are geared towards clients much bigger than a school concession and are thus going to cost a lot more than $1,000 per year (Burg, 2013). To truly get a return on investment might require something a little more low-tech, like stickers on inventory noting a use by date, and checks prior to menu planning to ensure that perishable goods are used swiftly.
Let's say for the sake of argument…
References
Accounting Tools (2015). Inventory audit procedures. Accounting Tools.com. Retrieved November 20, .2015 from http://www.accountingtools.com/inventory-audit-procedures
Burg, N. (2013) The 5 best inventory management apps. Forbes. Retrieved November 20, 2015 from http://www.forbes.com/sites/ups/2013/06/10/the-5-best-inventory-management-apps/
felt differently. She was concerned about the bad decisions that were made throughout the year based on the incorrect inventory numbers. She felt that she and the other accountants should have helped develop more timely and effective system controls."
Accountant B. was right to be concerned. However, the balance sheets that were created during the year would eventually be checked, and the inventory balances would be noted. It would also be noted that inventory balances had been adjusted to reflect all downward adjustments at the end of the year The related income statement account would then have the periodic adjusting entry, which for CBU, when compiled at the end of the year, should equal the amount of $1 million.
Losses in supplies, but usually not inventory, need to be entered into the asset account in order to reduce the periodic balances. If part of January's inventory had been lost, that…
Works Cited
Accounting Coach, L.L.C., 2006, http://www.accountingcoach.com/online-accounting-course/12Xpg03.html#cost-of-goods-sold-periodic-lifoand http://www.accountingcoach.com/online-accounting-course/12Xpg02.html#cost-of-goods-sold-inventory-systems .
Vendor Managed Inventory
Supply Chain And Operations Management:
Supply chain management is a major concerned of all large and small firms in today's highly unpredictable business environment. hile the buyers or distributors are worried about timely deliveries of products and efficiency of products, manufacturers are more concerned about how their customers judge demand and place orders. This is because unpredictable changes in demand can force the customers to place orders for products whose production level has not yet been increased. For this reason, supply chain management has become a major issue.
Supply chain management sounds like a complex series of integrated activities but it all boils down to one simple end i.e. customers must always have the items as and when required. Roger Blackwell, a professor of business studies at Ohio State University and acclaimed author of quite a few best-selling books on the subject of supply chain says, "Supply-chain…
Works Cited
Jacqueline Emigh, Vendor Managed Inventory., Computerworld, 08-23-1999, pp 52
Manage my inventory OR ELSE!., Computerworld, 01-31-1994, pp 93
Jilovec, Nahid, VMI success depends on a proper strategy. (Vendor Managed Inventory)(EDI Update) (Technology Information) Vol. 10, Midrange Systems, 04-11-1997, pp 32(1).
Heather Harreld, with Jennifer Jones contributing, FEATURES: Supply-chain collaboration., InfoWorld, 12-24-2001.
Accounting System Implemented at Chic Paints Limited
eport submitted in order to fulfil the requirements of AAT Accounting Qualification
Internal Controls and Fraud
Accounting System eview
Weaknesses in the Existing System and ecommendations
Cost and Benefit Analysis
Mapping of report to outcomes and criteria
The purpose of this report is to present the findings of the evaluation of existing accounting system implemented at Chic Paints Limited. Chic Paints Limited hired me as an Accounting Technician of the Company to review the accounting systems of the company and report on the operating effectiveness of the internal controls, and this report explains it.
The report also discusses the results of the evaluation of existing accounting systems implemented at Chic Paints Limited on the basis of the AAT code of Ethics and Sustainability requirements. The report also identifies and presents the weaknesses in the existing accounting system along with the effects of the…
References
Aat.org.uk (2013). AAT and sustainability | AAT. [Retrieved from: http://www.aat.org.uk/about-aat/aat-sustainability [Accessed: 16 Dec 2013].
AAT London (2011). AAT code of Professional Ethics. Code of Ethics. London: AAT.
Fraudiscovery.com (2013). 20 Question to Detect Fraud. Retrieved from: http://www.fraudiscovery.com/detect.html [Accessed: 16 Dec 2013].
Griffin, D. (2013). What Are Internal Accounting Controls? Retrieved from: http://smallbusiness.chron.com/internal-accounting-controls-3809.html [Accessed: 15 Dec 2013].
Systems for a etail Store
Nostalgic ecord Store Information Systems Proposal
Benefits and Drawbacks of Information Systems
Comparison of Cost and Benefits
Any new store will require a series of accounting, e-commerce, finance, customer relationship management (CM), pricing and services applications to ensure it stays profitable. When the products being sold are highly unique, as is the case with nostalgic music, the role of these systems becomes even more critical. It is the goal of this proposal to define five specific systems needed to operate the store profitably, in addition to listing the strengths and weaknesses of each. The five systems needed to successfully run the nostalgic record store include:
Small Business Accounting System
Low-end, preferably Software-as-a-Service (SaaS)-based CM system
E-Commerce Web Store
Transaction-oriented Point-Of-Sales System
Merchandise Inventory Management and Pricing Software System
Both the benefits and drawbacks of each of these systems are analyzed in this proposal.
Benefits and…
References
Bernoff, J., & Li, C. (2008). Harnessing the power of the oh-so-social web. MIT Sloan Management Review, 49(3), 36-42.
Limbasan, A., & Rusu, L. (2011). Implementing SaaS solution for CRM. Informatica Economica, 15(2), 175-183.
Sarapovas, T., & Cvilikas, A. (2008). The evaluation of e-commerce impact on business efficiency. Baltic Journal of Management, 3(1), 71-91.
Wichmann, H. (1983). Accounting and marketing - key small business problems. Entrepreneurship Theory and Practice, 7(4), 19-19.
inventory control "system" consists of orders for stock replenishment being made by the stockroom foreman, the purchasing manager, or the manufacturing manager whenever one of them notices that the inventory is low. An order for replenishment of inventory is also placed whenever someone (either a customer or an employee in the assembly area) wants an item and it is not in stock.
I would recommend that the company spend time ahead of the year, scrupulously planning the projects that they will undertake the coming year and resources needed for those projects. By planning in advance, they will be able to limit their cost and expense by selecting the cheapest items to procure. These items need not lose out on quality. The company will merely decide the suppliers best for them and the items that will best meet their needs whilst being simultaneously cheap. Indeed, "there were 973 different part numbers…
With respect to cash flow, many firms rely on revolving credit to smooth out the cash flow inherent in their businesses. Under normal circumstances, this credit is available. However, when it is not available, firms need to figure out new ways to create cash flow. The use of a credit card as a substitute for a line of credit highlights the downside of losing cash flow and not having a stockpile of cash available. It also highlights the need for budgets to include variables such as a higher cost of capital that will accrue from tightening credit markets.
Analysis
The credit crunch has impacted businesses in a number of negative ways. The business owners in this case have alluded to the improvements they have been forced to make in their operation in order to survive without credit. However, with these improvements there is little left to improve. That calls into…
Costco
Programs, Budgets and Procedures
Costco's approach to financial improvement will come in the form of a two-pronged strategy. The first is to increase inventory turnover, and the second will come in the form of increasing market share. Inventory turnover is a standard ratio that refers to "how many times a company's inventory is sold and replaced over a period of time," ("Inventory Turnover," (n.d.). Increasing market share usually depends on a multifaceted process that includes "innovation, strengthening customer relationships, smart hiring practices and acquiring competitors," (Investopedia, 2015).
While it is understood that Costco has exceptional inventory turnover rates, improving these will shorten the cash conversion cycle, and thus have a positive impact on the company's bottom line. There are two potential approaches to lowering the inventory turnover rate. The first is that the company can open more stores and seek to reduce the amount of days' inventory in each…
References
Ingram, D. (n.d.). What Are the Seven Internal Control Procedures in Accounting? Chronicle. Retrieved online: http://smallbusiness.chron.com/seven-internal-control-procedures-accounting-76070.html
"Inventory Turnover," (n.d.). Investopedia. Retrieved online: http://www.investopedia.com/terms/i/inventoryturnover.asp
Investopedia (2015). What strategies do companies employ to increase market share?
Retrieved online: http://www.investopedia.com/ask/answers/031815/what-strategies-do-companies-employ-increase-market-share.asp
Inventory Management
Inventory for business
For any business to achieve financial success, its inventory has to be properly managed. Through this the business gets to evaluate its needs for a specific good to fill its inventory with enough stock. The business therefore improves its sales outcome or profitability without spending too much in terms of financial and physical resources. To optimize inventory levels, businesses must assess their inventory. Inventory assessment involves evaluating assets and financial resources to ascertain if they can sustain the acquisition of goods and supplies through availability of funds. Businesses must also engage in inventory forecasting in order to optimize inventory levels (Harrison, 1997).
Inventory forecasting involves analysis of business future needs in order to maintain availability of stock in supplying the demands of the consumers. Inventory forecasting is integral in reducing shortage of stocks that may negatively impact generation of revenues. Inventory visibility is also an…
References List
Harrison, H. (1997). The Basic Concepts of Inventory Costing Methods. New York: Prentice
Hall.
StartupBizHub. (2012). Inventory Management Concepts. Retrieved April 18, 2013 from http://www.startupbizhub.com/inventory-management-concepts.htm
STREAM (2013). Basic concepts of business management. Retrieved April 18, 2013 from http://www.authorstream.com/Presentation/e34448-1626515-basic-concept-inventory-management/
Beck Depression Inventory-II (BDI-II) is a 21-item clinician administered and scored scale that is designed to measure a person's mood and symptoms related to depression. The BDI-II was designed to conform to the DSM-IV depression diagnostic criteria and represents a substantial improvement over its predecessor, the original Beck Depression Inventory. The BDI-II has been used both as a research measure (its primary intended use) and to assist with the clinical diagnosis of depression. The BDI-II has been subject to numerous empirical studies designed to measure its internal consistency, convergent and discriminant validity, criterion validity, and construct validity and the test demonstrates acceptable psychometric qualities, but there have been some concerns with its use. This paper reviews the development of the BDI-II, its psychometric properties, uses, strengths, and weaknesses. Advantages and disadvantages of using the BDI-II and recommendations for future research regarding its use are also discussed.
Title of paper
The…
Analyze the appropriateness of HM technologies and best practices to recommend applications and strategies for your selected organization, in order to improve organizational effectiveness, workforce productivity, and systems integration
HM technologies are essential towards reduction of the cost of operations as well as an increment in the level of consumer satisfaction hence effective management of the resources and available opportunities. Wal-Mart should focus on the quality and efficient automation of the processes and departments for the purposes of eliminating errors and overhead costs. This is essential through management of the HM technologies such as CM, FID, and EP with the aim of achieving maximum profit levels and revenues at the end of the fiscal year.
eferences
Ho, C. (2007). Measuring system performance of an EP-based supply chain. International Journal of Production esearch, 45(6), 1255-1277. doi:
10.1080/00207540600635235
Karimi, J., Somers, T.M., & Bhattacherjee, A. (2007). The ole of Information Systems
esources…
References
Ho, C. (2007). Measuring system performance of an ERP-based supply chain. International Journal of Production Research, 45(6), 1255-1277. doi:
10.1080/00207540600635235
Karimi, J., Somers, T.M., & Bhattacherjee, A. (2007). The Role of Information Systems
Resources in ERP Capability Building and Business Process Outcomes. Journal Of
EP systems for accounting
EP refers to enterprise resource planning which is a software package that supports all of a business's operations and day-to-day accounting processes. The EP system of accounting provides an integrated system for an entire business organization by relating and coordinating the basic organizational functions such as financial planning, marketing of goods and services and human resource management. Many business organizations in the world today, both for profit and non-profit adopt the use of EP due to its ability to integrate and coordinate information from all departments, operations and processes. EP is a sophisticated system that ensures accuracy and accountability in processing and organizing business functions within an organization. This system generally can manage a business by allowing inventory control, material purchasing, accounting, marketing and distribution.
The EP system consists of several enterprise software packages acquired based on specific needs, requirements and technical capabilities of a particular…
References
Monk, E.F., & Wagner, J.B. 2009.Enterprise Resource Planning. 3rd edition. New York: Cengage Learning.
Meer, K.H. 2005. Best Practices in ERP Software Applications: Accounting, Supply Chain Planning, Procurement and Inventory. Printed in the United States of America: iUniverse publications.
Grabski, S, Leech, S & Sangster, A. 2009. Management Accounting in Enterprise Resource Planning Systems. Printed in the United States of America: CIMA Publishing
Sawyers, R, Jenkins, J.G. & Jackson. S. 2009. Managerial Accounting: A Focus on Ethical Decision Making. Printed in Canada: Cengage Learning.
Subway Finance and Info Systems
The practice of finance and accounting is a very important component within the context of business operations. As the global economy continues its tepid pace of expansion, cost controls are now paramount to company success. Managing inventory, sales, loss, and other financial aspects are critical to the success of any franchise. Subway is no different in this regard as the company must content with intense price competition along with a consumer with less discretionary income. Throughout the course of my interviews, I acquired knowledge as to how many owner account and control costs. I also gained insights as to how these owners utilize information technology in an effort to forecast future demand while also eliminating inefficient behavior on the part of associates. Through these subsequent conversations, I was better able to garner a better understanding of the finance department. I was also better able to…
References
1) Richard Behar (March 16, 1998). "Why Subway Is 'The Biggest Problem In Franchising' That's the assessment of a congressional staffer who studied." Forbes Magazine. http://nextraterrestrial.com/pdf/FDeluca-Fortune%20March%2016%201998.htm . Retrieved August 1, 2012.
2) Joe Ducey (June 26, 2007). "Sub-Standard." KNXV-TV (Phoenix, Arizona. Archived from the original on August 18, 2007. http://web.archive.org/web/20070818130828/http://www.abc15.com/content/news/investigators/story.aspx?content_id=cf4c217c-1910-4040-9a33-0102fdd135c7 . Retrieved April 8, 2008. "His office recently warned Subway, for shorting a customer and the ABC 15 Investigators found Subway was the biggest offender in our test."
3) "SUBWAY Free Cookie Promotion for Completing SUBWAY Receipt Survey." Financial Tips and Articles on How to save More Money and Earn Extra Cash from Credit Card Offers and Banking Bonuses to Travel Savings and Shopping Discounts including Promotional Code Offers and Merchant Discount Links That Assist You in Maximizing Money. N.p., 6 June 2011. Web. 02 Aug. 2012. .
This is because it can provide and de-provide its resources dynamically, lead to a reduction of the unused capacity as well as maximize the available resources for improved efficiency.
Efficient: The SaaS EP system makes businesses to benefit from the shared hardware, familiar technologies as well as automated processes. This means that that system is able to effectively increase its peak-load capacity, provide access to organizational resources from almost everywhere via PC or any other internet enabled-devices. The system also leads to a reduction in the energy usage as well as the level of physical footprint.
Flexible: The SaaS EP system can adapt to the changing business needs.This means that it can easily adapt to the ever dynamic nature of a distributed workforce.
Secure: The system is also secure due to the multi-level data security system which it employs
The business would therefore need to engage on a total overhaul…
References
Al-Fawaz, K.,Al-Salti, Z and Eldabi, T (2008).Critical success factors in erp implementation: a review. European and Mediterranean Conference on Information Systems 2008
Drumm, J (2011). Four Benefits of Microsoft Dynamics ERP Cloud Computing
http://blog.sikichtechnology.com/post/2011/03/01/Four-Benefits-of-Microsoft-Dynamics-ERP-Cloud-Computing.aspx
Goel, S.,Kiran.,R ., Garg, D (2011) Impact of Cloud Computing on ERP implementations in Higher Education. International Journal of Advanced Computer Science and Applications, Vol (2) 6 2011
Although the research tools provided by the ISO 14001 framework are both qualitative and quantitative, this approach is consistent with the guidance provided by Neuman (2003) who points out that, "Both qualitative and quantitative research use several specific research techniques (e.g., survey, interview, and historical analysis), yet there is much overlap between the type of data and the style of research. Most qualitative-style researchers examine qualitative data and vice versa" (p. 16). Indeed, researchers have used qualitative and quantitative surveys to assess consumer reactions to proposed environmental initiatives at the local level (Neuman, 2003).
In fact, quantitative and qualitative research methods are characterized by a number of similarities that lend themselves to environmental systems analyses and development (as well as some differences) (Neuman, 2003). The distinct differences in the qualitative and quantitative research suggest that the use of quantitative data for environmental system development is highly appropriate, but that such…
References
Bonlac Foods. (2012). Bloomberg Businessweek. Retrieved from http://investing.business week.com/research/stocks/private/snapshot.asp?privcapId=883342.
McComb, S. (2010). Green building & green business informatics tool. Elusor. Retrieved from http://www.environmentalaccountingtools.com/magazine/tag/building.
Recardo, R. & Jolly, J. (1999). Organizational culture and teams. SAM Advanced Management
Journal, 62(2), 4-5.
Product Costing systems (ABC, job costing, put costing, .) advanced topic managerial accounting the thesis statemenit a position body paper show evidence support position. The paper discuss opposite point view discuss position valid.
Product costing systems
Product costing system is a management tool which identifies the actual cost of producing each product. It identifies the profits and loss which can be gained or incurred on each product, hence giving companies the opportunity of identifying and promoting of profitable product while dropping, re-pricing or redesigning of unprofitable products Brierley, 2008.
Product costing is a highly sensitive area for managerial accountants, recently, most of them have changed their focus such that they give their attention to appropriate treatment costs which are directly associated with resources that are committed to support activities, which within the company do not vary proportionally to production once the initial capacities have been set. In such as an…
References
Brierley, J.A. (2008). Toward an Understanding of the Sophistication of Product Costing Systems. [Article]. Journal of Management Accounting Research, 20, 61-78.
Brierley, J.A. (2010). The determinants of overhead assignment sophistication in product costing systems. [Article]. Journal of Corporate Accounting & Finance (Wiley), 21(4), 69-75. doi: 10.1002/jcaf.20597
Brierley, J.A. (2011). A Comparison of the Product Costing Practices of Large and Small- to Medium-Sized Enterprises: A Survey of British Manufacturing Firms. [Article]. International Journal of Management, 28(4), 184-193.
Drudy, & M. Tayles. (2005). The British Accounting Review Explicating the design of overhead absorption procedures in UK organizations, 37(1), 47 -- 84.
Decision Analysis System
Computers have brought a great change in our lives. A software program called spreadsheet turns the computer screen into a paper sheet one is working on. This program saves time by reducing the errors and repetitions of calculations. It is commonly used in physics labs in order to save time by getting accurate results and accumulating proper data in labs. Spreadsheets have traditionally been used by accountants for the purpose of bookkeeping and budgeting, when actually they can prove to be amazing tools for engineers and scientists as well. Using a spreadsheet, entered raw data could be manipulated and plotted through few easy commands. Furthermore, due to their built-in capability to easily plot data, spreadsheets prove to be especially useful (Karmakar et al., 2007).
Initially introduced in the corporate world in late 1970s and the early 1980s, it proved to be an immediate success. The usefulness, power…
References
Karmakar, S., C. Lagu, J. Agnew and H. Landry (2007) Integrated decision support system (DSS) for manure management: a review and perspective. Computers and Electronics in Agriculture, 57, 190 -- 201.
Kong, G., D.L. Xu, X. Liu and J.B. Yang. (2009) Applying a belief rule-base inference methodology to a guideline-based clinical decision support system. Expert Systems, 26, 391 -- 408.
Ragsdale, C.T., K.P. Scheibe and M.A. Trick (2008) Fashioning fair foursomes for the fairway (using a spreadsheet-based DSS as the driver). Decision Support Systems, 45, 997 -- 1006.
eref, Michelle M.H.; Ahuja, Ravindra K.; and Winston, Wayne L. (2007). Developing spreadsheet-based decision support systems: using Excel and VBA. Dynamic Ideas.
SCM as a Method of Inventory Control
SCM and Inventory Control
This paper examines the use of supply chain management (SCM) as a tool for inventory control. SCM, which coordinates and integrates the activities of supply chain members, plays an increasingly important role in companies' reducing their costs and making better informed decisions. Companies benefit from SCM and inventory control by better meeting customer demands for product availability and pricing, and by competing more effectively and efficiently through more profitable operations.
Inventory is important to profitability. The faster a company turns its inventory, the greater the company's profitability. Inventory is a significant component of SCM success. Customers demand that their orders be completed on time and accurately, which requires that companies have the right inventory at the right price at the right time. Therein lies the challenge for SCM, being able to successfully manage inventory. These challenges apply to all…
Reference List
Alade, J.A., Sharma, D.K., and Sharma, H.P. (2004). Role of supply chain management decisions in effective inventory control. Journal of Academy of Business and Economics., (4)1. Available at http://www.freepatentsonline.com/article/Journal-Academy-Business-Economics/126933663.html
Craig, T. (2002). Inventory -- Critical issue in supply chain management. LTD Management. Available at http://www.ltdmgmt.com/inventory1102.asp
Dooley, F. (2006). Logistics, inventory control, and supply chain management. Choices Magazine. Available at http://www.choicesmagazine.org/2005-4/supplychain/2005-4-14.htm
Handfield, R. (2011). Why do you need to know about supply chain management (SCM)? North Carolina State University. Available at http://scm.ncsu.edu/scm-articles/article/why-do-you-need-to-know-about-scm
Clearly the ability to transform critical new product development, supply chain, sourcing and material yield and optimization strategies has paid off, as indicated by the exceptionally strong inventory turns a year in the latest fiscal period (29.78). This was also achieved in FY 2008 and due to several acquisitions during FY 2007 BAE Systems posted 52.31 inventory turns due to the consolidation of financial statements and operations with companies acquired during that time. Finally the metrics illustrate how well BAE is re-architecting key processes to gain high levels of cost efficiencies. This is seen in the trending of Return on Assets (ROA), which in 2005 was 3.03, increasing to 8.52 in 2006 and then dropping to 4.69 in 2007. The FY 2008 timeframe showed exceptional growth with the company reporting 7.58 ROA. On ROE the transition from 20.22 in 2005, to 47.16 in 2006, 17.78 in 2007, and 26.19 in…
Optimizing Inventory / Transportation
Optimizing Inventory/Transportation
Danny Wilco
Re: Quarterly Ordering Decisions
Problem Situation
Optimal order-quantity technique is one of the sophisticated inventory management systems that our organization can employ to manage our inventories. The traditional inventory management technique we are using is making our company to incur additional costs of operation. The annual inventory holding costs is 4% thereby increasing our costs operation, and reducing our profitability. In the course of this problem, we are required to implement the optimal order-quantity technique to assist our company to lower the costs of managing our inventory thereby increasing our profitability.
Assumptions
Our pricing estimate is based on the markup factor of 140% or 1.4.
There is an estimation of 4% of the annual inventory holding costs.
The quarterly sales forecast of the Kegs of the Imported Beer line is estimated based on the inflation of 100% for the last quarter, which…
Ethics Awareness Inventory
According to the Ethics Inventory, I fell into two categories: those who are obligation-oriented, and those who are results-oriented. In some ways, the ethical beliefs of these two categories are in conflict; for instance, usually people who base ethical decisions on obligation or duty are not as concerned with results as with principles. However, I scored high in the results-oriented category as well. I believe that my ability to span both categories of ethical decision making have proved beneficial for me in the past and will continue to in the future. For example, the ethics awareness inventory analysis indicated that I do not operate in terms of absolutes; I do not feel that there can be any absolute standards of right and wrong because the world is too complex. Therefore, I am more prone to being open-minded and flexible than people who do feel that there should…
Summary
The Keller/PSI approach to academic and professional training has been documented to improve student performance as measured by course completion rates and subject matter retention among students. On the other hand, there are considerable practical and technical problems implementing the Keller/PSI approach within traditional educational institutions. Meanwhile, there is little if any empirical evidence suggesting precisely how the Keller/PSI model benefits learning outside of the focus on the reduced deadline orientation that is the hallmark of that teaching methodology.
Substantial evidence exists to suggest that the success of the Keller/PSI approach is actually attributable to other changes typically attributable to Keller/PSI, such as the broadening of the range of media of instruction, despite the fact that those changes are natural consequences of the Keller/PSI design rather than deliberately conceived components of the approach. The empirical evidence of the increased success of CAPSI programs further bolsters that argument.
A wealth…
References
Abdulwahed, M. And Nagy, Z.K. "Applying Kolb's Experiential Learning Cycle for Laboratory Education." Journal of Engineering Education. American Society for Engineering Education. 2009. Retrieved January 19, 2010 from HighBeam
Research: http://www.highbeam.com/doc/1P3-1848852471.html
Burton, J.K., Moore, D.M., and Magliaro, S.G. (2004). Behaviorism and instructional technology. Lawrence Erlbaum Associates, Mahwah, NJ.
Dunne, J.D. (1997). Behavior Analysis: No Defense Required. Wright University.
Inventory management through VMI leads to a much more cohesive, integrated and concerted response to customer demand in the companies who have turned this process area into a best practice.
Additional benefits of adopting an aggressive state-of-the-art VMI system include the following, which are defined by Askegar and Suleski (2) in table 1 of their landmark research study on the topic. The ability of manufacturers and distribution companies alike to increase their level of segmentation to customer needs and requirements is immediately evident in companies who achieve best-in-class performance on VMI. This higher level of performance translates into an above-average level of eturn on Assets (OA) and also a higher level of performance on eturn on Invested Capital (OIC) which is a critical measure of how well warehouse, shipping and fulfillment operations are being utilized in conjunction with VMI workflows.
Secondly, these best-in-class companies who are relying on VMI as…
References
Askegar, Suleski. Vendor-Managed Inventory: Smart Investments Lead to Big Payoffs. Tuesday August 26, 2003. Vinay Askegar and Janet Suleski.
Cecere & Martin. What is Demand Visibility? AMR Research Report. Published March 14, 2006. Lora Cecere and Roddy Martin.
Scouras, Ismini. The Success of a VMI Program Depends on the Health of an Industry. Electronics Supply and Manufacturing. CMP United Business Media.
Accessed from the Internet on June 20, 2007:
Forest Limited
Inventory
Firstly, Forest Ltd. owned an automated machine used in creditor's ledger. The machine is programmed to use two currency units, United States dollar and Australian dollar. It appeared that there was no distinction between the rates of the two currencies, resulting in inaccurate creditor balances.
Secondly, End month turnover have proved challenging, with creditor balances mistakenly re-set at zero at the beginning of every month. This has required each creditor's history to be re-entered manually each month, a time-consuming process that is taking accounting staff away from their normal duties.
Thirdly, Forest Ltd. relies on automated technology to collect, maintain and communicate data to support accomplishment of their objectives. Nevertheless, there is a significant correlation in risk between the creditors and Forest Ltd., implying that systems with security problems also produce less useful management information. In order to have a strong secured program when developing their Information…
References
Davies, J., Finlay, M., McLenaghen, T., & Wilson, D. (2006). Key Risk Indicators -- Their Role in Operational Risk Management and Measurement. RiskBusiness International Limited.
Smith, M., Omar, N.H., Sayd Idris, S.I., & Baharuddin, I. (2005). Auditors' perception of fraud risk indicators: Malaysian evidence. Managerial Auditing Journal, 73-85.
Abstract
This particular report is an evaluation on AIS through case analysis and presentation involving AIS failure, possible alternatives the firm may have had and just how the management should have strategized to avert the failure. In the end, the paper reveals best practices for migration from another system to AIS.
To change the Accounting Information System (AIS) best practices
Accounting info systems (AIS) has transformed business processes on a worldwide scale. When financial data is entered into the AIS, financial statements and reports are created at several business levels to make profitability certain. Steinbart and romney (2012) revealed that the accounting systems process information to offer data to users so that they can not only plan, but also manage and operate respective businesses. Given this situation, accounting info system are viewed as a method which helps management in their planning and balance processes by offering data that is both…
Implicit in the use of these internal controls is keeping strategic plans and initiatives on track. This focus on continual alignment of strategies to their objectives through the use of internal controls is what separates those organizations attaining success with their supply chains or not.
One of the more successful organizations globally in orchestrating their supply chains through the use of internal EP controls is PC and laptop manufacturer Lenovo (Barrett, et.al.). According to studies of their supply chain completed by AM esearch, Lenovo has been able to attain a 37% reduction in supply chain costs over three years (Barrett, et.al.). In addition Lenovo has been able to stay profitable while experiencing 42% growth during the 4th quarter of 2009, a time when many of its competitors were facing financial losses. Compare their growth to the overall market growth of 17% and the value of supply chain-based internal controls becomes…
References
Hari Bapuji, and Paul W. Beamish. "Mattel and the Toy Recalls (A). " Richard Ivey School of Business Case Collection: 9B08M010: Mattel and the Toy Recalls (A) 21 December 2009
Barrett, Jane . " Lenovo: The Journey of a Supply Chain Leader ." AMR Research . AMR Research, 12 March 2010. Web. 8 Apr 2010. .
Barrett, J.. "Demand-Driven is an Operational Strategy. " Industrial Management 1 Nov. 2007
Bhagwat, R., and M. Sharma. "Performance measurement of supply chain management using the analytical hierarchy process. " Production Planning & Control 18.8 (2007): 666.
There are various applications of the FID technology in the healthcare. These are explored by a HIBCC,(2006 ) report that studies the application of the FID technology in the healthcare setting with emphasis on its benefits, limitations as well as recommendations The report categorically pointed out that that the applications of the FID technology in the health care settings are numerous. They range from being used in the management of the hospital's supply chain to the management of the patients themselves. In terms of the supply chain management, the FID technology can be used in the organizing the delivery of supplies such as pacemakers, artificial limbs as well as defibrillators. This is because the supply chain of these crucial items is very complicated and requires the timely delivery of the consignments. The high degree of traceability that is needed to track the shipments from the supplier up to the time…
References
Anonymous (2004), RFID in the hospital, in RFID Gazette. July 15,
2004
Aarts, J., Doorewaard, H., and Berg, M.(2004), "Understanding implementation: the case of a computerized physician order entry system in a large Dutch university medical center," Journal of the American Medical Informatics Association, vol. 11, no. 3,
Chin-Yin,(2000)RFID-Enabled Analysis of Care Coordination and Patient Flow in Ambulatory Carpp. 207-216.
Women un Fotune 500 companies and men may become 'stay-at-home' dads. Howeve, despite the fact that a woman has made a cedible bid fo the pesidency in ecent memoy, and the geate success of women in pofessional life, it is likely that 'soft-spoken' is still viewed as a moe desiable attibute fo a female. Attibutes such as 'athletic' may have become moe gende-neutal, given the geate pemeation of women in spots and some of the most limiting steeotypes, that women ae moe 'shy' might have deceased to some degee. The list of positive female and male attibutes would likely have moe convegence today, and thus thee would be moe gende-neutal values. Howeve, some taits would likely still be seen as moe desiable fo men and women along the lines of the oiginal list, although to a lesse degee -- leadeship skills might be seen as moe impotant fo males to…
references to different words for assertiveness, presumably because women were discouraged from being assertive in Bem's view, when she first constructed the test. Today, we might be more apt to ask: why is assertiveness seen as the most positive value for men, and for women wishing to assume what are considered more masculine positions in the workforce? What does this say about our culture as well as about gender stereotypes? Being a good listener is equally as important as being a leader, as is intelligence and open-mindedness.
secondary research business information systems- * history business information systems impact mobile technology *
Business information systems
The modern day society evolves at the fastest rate known so far to humanity. And the trend setter for this rapid change is represented by technology. Innovations are present in all aspects of the daily operations, from the preparation of meals and the spending of the leisure time to the completion of the professional tasks.
Within the business community, technology has been adopted as a source of operational efficiencies. Technology allows economic agents to conduct research at superior levels, to process and store data, but also to provide support for manufacturing, marketing or managerial operations.
The technologies used by economic agents can generically be divided into two categories -- hardware and software. The hardware components include the computers, the machines, the peripheics or any other tangible devices. The software components include the applications…
References:
Curtis, G., Cobham, D., 2008, Business information systems: analysis, design and practice, 6th edition, Pearson Education, ISBN 0273713825
Hon, A., 2011, New technology: one day, everyone will have a magic tablet, The Telegraph, http://www.telegraph.co.uk/technology/technology-topics/8799481/New-technology-One-day-everyone-will-have-a-magic-tablet.html last accessed on October 28, 2011
Mohelska, H., Mobile technologies and their use in a company, WSEAS, http://www.wseas.us/e-library/conferences/2010/Tunisia/AEBD/AEBD-23.pdf last accessed on October 28, 2011
2011, Information system, PC Magazine, http://www.pcmag.com/encyclopedia_term/0,2542,t=business+information+system&i=44963,00.asp#fbid=aEvSu1daRi_ last accessed on October 28, 2011
Internet e-Systems to Support Purchasing Supply Chain Management Activities
Although the fundamental goals of effective supply chain management have not changed in recent years, companies of all types and sizes now have the ability to streamline their supply chain management activities in general and their purchasing function in particular through the use of Internet-based e-systems. Such e-systems include corporate intranets and business-to-business exchanges that can satisfy the entire spectrum of supply chain management needs in more efficient and cost-effective ways. To gain some further insights into recent and current trends in the use of Internet e-systems to support purchasing supply chain management activities, this paper provides a review of the relevant literature, followed by a summary of the research and important findings in the conclusion.
eview and Discussion
Innovations in telecommunications and transportation have profoundly affected the manner in which companies go about achieving their organizational goals. For instance, according…
References
Agrawal, M.K. & Pak, M.H. 2001 'Getting Smart about Supply Chain Management.' The
McKinsey Quarterly, p. 22.
Camm, F. 2001 Environmental Management in Proactive Commercial Firms: Lessons for Central Logistics Activities in the Department of Defense. Santa Monica, CA: Rand.
Chapman, K. & Ellinger, A.E. 2009 'Constructing Impact Factors to Measure the Influence of Supply Chain Management and Logistics Journals.' Journal of Business Logistics, vol.
Nostalgic Record tore Information ystem Plan Recommendation
Recommended ystems Benefits and Drawbacks
Comparing Costs and Benefits of ystems
Creating a new music store that specializes in selling nostalgic music will have a myriad of potential albums, artists, songs, titles and formats to contend with. In addition to accurately pricing these many products to ensure a profit is made, having a very accurate measure of inventory positions will also be critical. As many fans of nostalgic music are in the older age groups and rely on the Internet do to their shopping. All of these systems will need to support e-commerce in addition to in-store retailing and selling as well. The five systems the store will need include the following:
Accounting and Financial Management ystem
E-Commerce and Online Catalog Management ystem
Merchandise Inventory Management and Pricing
ales Force Automation ystem
Transaction and Point-Of-ale Applications
The following is an analysis of the…
Starting with the accounting and financial management system which will be the center of the IT architecture for the music store, the advantages of this type of system are its ability to quickly generate financial reports, track inventory positions, and report on incoming supplier deliveries. In short this system acts as the central coordination point for all activity in the store from a financial standpoint, coordinating accounts payable, accounts receivable and payment schedules for suppliers and all expenses. The Microsoft AX Platform is well-known as a scalable platform for stores looking to automate their accounting and financial management systems (Lamont, 2008). The downsides or drawbacks of this system are its cost, the large amount of time it takes to keep the records current, and also the time it takes to learn each new edition of software.
The second system that is required is for tracking the customer activity both within the store and online. The Customer Relationship Management (CRM) systems' benefits are the ability to create highly effective and targeted selling programs, the ability to track which promotion is generating with sale, and the ability to fine-tune product and promotion strategies to customers. There is also the advantage of being able to get up and running with the Software-as-a-Service (SaaS) versions of CRM quickly as well, as Salesforce.com has been able to build nearly a billion-dollar business on (Limbasan, Rusu, 2011). The downsides of this type of system is the high cost to keep its information current, the costs involved in creating a more effective series of strategies over time that reflect customers' changing needs using analytics (Limbasan, Rusu, 2011) and the high cost of integrating these systems with e-commerce ordering systems to track purchases (Sarapovas, Cvilikas, 2008). They are invaluable however in understanding how and why customers buy products and their analytics can help define future strategies for selling with a very high level of precision when analytics are used.
An e-commerce system is also going to be invaluable for the retail store as well, as the unique product mix of music will be popular with fans globally. Having a website will drive retail traffic to the store and also serve as a secondary selling channel as well. The advantages of e-commerce and online catalog management systems are their ability to quickly report product introductions, manage pricing and specific aspects of a given music's unique characteristics, and also complete a transaction entirely online (Sarapovas, Cvilikas, 2008). The disadvantages are that
Distribution Centers: The elevance of a Good Transportation System
Distribution centers, in basic terms, "are special forms of warehouses that focus on throughput where products from various manufacturers are combined into shipments of precise quantities for distribution according to customer needs" (Wang and Adams, 2010).
A good transportation system helps in the reduction of transportation costs. From the onset, it is important to note that the relevance of cutting down on transportation costs cannot be overstated. One way of cutting transportation costs is optimizing the location of distribution centers. The resulting shorter delivery routes come in handy in cost cutting attempts. As will be discussed elsewhere in this text, using Wal-Mart as an example, an appropriate location and multiple distribution centers mesh together to make the movement of products more efficient. The availability of transportation at warehouse locations, as Wang and Adams (2010) point out, "significantly impacts transportation costs and…
References
MWPVL. (2014). The Wal-Mart Distribution Center in the United States. Retrieved from http://www.mwpvl.com/html/walmart.html
Wang, B.X. & Adams, T.M. (2010). Warehousing and Distribution Centers. Retrieved from https://ceprofs.civil.tamu.edu/bwang/CVEN672/Warehousing-DC-Chapter-Wang-Adams.pdf
An unforeseen benefit of this online strategy Dell used to increase brand awareness and remove some of the tarnish from their brand image was Word-of-Mouth (WOM) of the brand began to grow significantly as a result (Jarvis, 2008). Dell had not experienced WOM success of its brand awareness strategies in nearly a decade prior, and what the marketing managers attributed this to was the commitment to listen and respond to customers and talk openly about the strengths and weaknesses of products. In short Dell was able to redefine their brand through the use of augmented branding strategies based on listening to customers. They showed they cared when they listened and this engenders trust, which was critical for their brand to be seen as credible again. Information technologies were tertiary to this effort. Web-based portal applications made it possible for Dell to get their website DellIdeaStorm.com up and running within weeks.…
References
Bernoff, J., & Li, C.. (2008). Harnessing the Power of the Oh-So-Social Web. MIT Sloan Management Review, 49(3), 36-42.
Bughin, J., Shenkan, A., & Singer, M.. (2009). How poor metrics undermine digital marketing. The McKinsey Quarterly,(1), 106.
Dan Coffey. (2005). Matching strategies in car assembly: the BMW-Rover-Toyota complex. International Journal of Automotive Technology and Management, 5(3), 320-335.
Duray, Rebecca. (2004). Mass Customizers' Use Of Inventory, Planning Techniques And Channel Management. Production Planning & Control, 15(4), 412-421. (125 mass merchandisers)
This stage is also a synthesis of various other stages. In the last, the system is described as a collection of modules or subsystems. In this stage, modular and subsystems programming code will take effect, and then the individual modules will be tested before they are integrated in the next level.
The code is tested and retested at various levels; system, unit, and user acceptance testing are often performed depending on the consultant's judgment and this is something that is repeatedly discussed with organization and stakeholders. The amount of testing, therefore, depends on the particular organization. The consultant has to know when to cease analysis.
The final stage -- instillation, implementation or deployment is when the software is put into production and actually used by the organization.
Maintenance will take place on a regular level. This is particularly so since changes of personnel in the organization (new ones entering, certain…
References
MKS Software Development Life Cycle (SDLC) / System Development
http://www.mks.com/resources/resource-pages/software-development-life-cycle-sdlc-system-development
SaaSSDLC.com -- Systems Engineering and Software Development Life Cycle Framework
http://opensdlc.org/mediawiki/index.php?title=Main_Page
Information System holds in Accounting Industry's future?
Looking through the glass and estimating what the future holds for any individual or profession is always a difficult exercise as the trends in any business or profession may change and so the path of development. It is better to look at the experience of some companies whose systems have changed over the past few years and thus try to estimate what is likely to happen.
There are many changes that have come to the world through the development of Information Technology and Computers. All the changes have come over a relatively short period of twenty years, and in many cases both industry and concerned humans are yet to adjust to the changes. There are many changes which have come in the accounting industry also, and those changes give an idea of what is likely to happen in the future.
The organization where…
REFERENCES
Anders, Susan B. (February, 2005) "Website of the Month: Legalbitstream" The CPA Journal.
Retrieved from http://www.nysscpa.org/cpajournal/2005/205/essentials/p70.htm Accessed on 12 July, 2005
Anders, Susan B. (July, 2005) "Website of the Month: Kaplan CPA Review" The CPA Journal.
Retrieved from http://www.nysscpa.org/cpajournal/2005/705/essentials/p70.htm Accessed on 12 July, 2005
Information Systems for a Nostalgic ecord Store
Benefits and Drawbacks of Information Systems
Comparison of Five Systems' Cost and Benefits
Launching a new record store that concentrates on nostalgic music can potentially be lucrative as many music fans like to listen to their favorite musicians and artists who may not be played on popular radio today. For a small brick -- and mortar music store specializing in nostalgic music, it is recommended that a series of five systems be considered for managing the business. These five systems include the following:
Accounting System
CM system
E-Commerce Website and supporting system
Point-Of-Sales System
Pricing and Merchandise Management System
The benefits and drawback of each of these systems id briefly described in this paper.
Benefits and Drawbacks of Information Systems
Each of the systems that the record store needs in order to operate profitably are defined in this section along with their benefits…
References
Sarapovas, T., & Cvilikas, A. (2008). The evaluation of e-commerce impact on business efficiency. Baltic Journal of Management, 3(1), 71-91.
Wichmann, H. (1983). Accounting and marketing - key small business problems. Entrepreneurship Theory and Practice, 7(4), 19-19.
HM-340-Human esource Info System Subject CASE SENAIO: Castle's Family estaurant restaurants northern California area approximately 300-340 employees.
Human resource information systems
The Castle Family estaurant is formed from a chain of eight facilities, employing an estimated 340 staff members, most of whom work as part time employees. The human resource responsibilities have been assigned to Jay Morgan, the operations manager, who is challenged by both the responsibilities, as well as the volume of work. Furthermore, Jay Morgan has to travel each week in each of the locations to implement the human resource measures which are necessary and the effort is becoming too costly for the overall firm.
In order to address these issues at Castle's Family estaurant, recommendations have been forwarded towards the development and implementation of a more comprehensive plan for human resource management. This plan would include the hiring of a specialized human resource manager, the delegation of…
REFERENCES:
Holbeche, L. (2012). HR Leadership. Routledge Types of human resource information systems. MBA Knowledge Base. http://www.mbaknol.com/management-information-systems/types-of-human-resource-information-systems-hris / accessed on September 27, 2012
(2010). Website of Apex Business Software. http://www.ihrsoftware.com / accessed on September 27, 2012
(2003). HRIS vendors / consultants. HR Guide. http://www.hr-guide.com/HRIS/HRIS_Vendors_Consultants.htmaccessed on September 27, 2012
(2006). Website of People Trak. http://www.people-trak.com accessed on September 27, 2012
accounting systems, their tradeoffs, and discusses the differences between countries in their approaches.
Each of the cost accounting systems discussed in the articles accomplishes some management goals better than other systems, but there are tradeoffs involved with each. Different nations approach their cost accounting systems differently due at least in part to differences within cultures. For instance, GP is more suited to countries where the culture is one of uncertainty avoidance, one of the five dimensions of Hofstede's taxonomy. GP offers the most uncertainty avoidance because there is relatively little ambiguity in the assignment of costs; GP is characterized by narrowly defined cost centers and strict cost center criteria. Cultures such as Germany's are characterized by a management environment that includes highly skilled workers and technical expertise among managers. This is in contrast to the U.S. where workers tend to have more generalist skill sets and managers have been educated…
Krumwiede, Kip & Suessmair, Augustin, (2008). A closer look at German cost accounting methods: a survey of the cost management systems used by companies in Germany, Switzerland, and Austria. Management Accounting Quarterly. Retrieved July 26, 2010, from http://findarticles.com/p/articles/mi_m0OOL/is_1_10/ai_n31370936/?tag=r bxcra.2.a.55
Lockhart, Julie & Taylor, Audrey, (2007). Environmental considerations in product mix decisions using ABC and TOC. Management Accounting Quarterly. http://proquest.umi.com/pqdweb?index=0&did=1411673321&SrchMode=1&sid=9&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1301590287&clientId=29440
Portz, K. & Lere, J.C. 2010. Cost Center Practices in Germany and the United States: Impact of Country Differences on Managerial Accounting Practices. American Journal of Business. Muncie: Spring, 2010. Vol. 25, Iss. 1; pg. 45. http://proquest.umi.com/pqdweb?index=25&did=1992507361&SrchMode=1&sid=6&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1315214891&clientId=29440
information technology) has opened the door for opportunities and risks. Organizations are increasingly facing competitions in the contemporary business market environment and to achieve competitive market advantages, many organizations are increasingly using EP (Enterprise resource planning) to decline costs and offer quality products at cheaper prices. EP is a business integration software assisting organizations to collect, manage, store as welling as interpreting data of business activities. (Vasilec, Avdejenkov, & Sosunov, 2009). Essentially, EP integrates core of business process using a real-time database system to achieve business functions such as asset management, purchase orders, production, track business resources and share data across various departments. Assets are very critical for organizational efficiency because assets assist organizations to generate revenues to enhance stakeholder's value. However, effective asset management is very critical for organizational efficiency. To manage organizational assets, increasing number of medium and large organizations are using asset management system integrated in EP…
Reference
Chisholm, M. (2004). How to Build a Business Rules Engine. Morgan Kaufman Publishers.
Infor (2012).Infor EAM User's Guide. Infor.
Oracle (2013). Oracle Enterprise Asset Management. Oracle Inc.
Smaizys, A. & Vasilecas, O. (2009). Business Rules Based Agile ERP Systems Development. Informatica, 20(3): 439-460.
4). The strength associated with this approach is ensuring that an organization has access to its mission-critical data in the event of a disaster, with the concomitant weakness being the relatively modest costs involved.
The next step in developing the organization's information system recover plan is to take stock of existing hardware. As Cohen emphasizes, "If you have been hosting your company's Web site on an office computer, it is time to stop. For the cost of a cup of coffee per day, a Web-hosting center can fully protect your site off-site, where it will not tie up your company's bandwidth" (p. 3). This approach to maintaining important contacts with customers and an organization's intranet has several strengths over an organization's hosting the Web site in-house. For instance, eagan (2006) notes that, "A hosted solution provides an organization with the flexibility of deploying an IP-enabled system without the maintenance costs…
References
Cohen, B. (2004, November 17). Data recovery planning -- What you need to know.
SmallBusinessComputing.com. [Online]. Available: http://www.smallbusiness computing.com/webmaster/article.php/3436831.
Reagan, C. (2006, February). Using VOIP to recover telecommunications services: A new generation of disaster recovery processes and telecom systems can help your enterprise deal with a crisis. Business Communications Review, 36(2), 60-61.
A survey will be developed as a part of implementation of the BSC system in this hospital to track customer satisfaction with the services that they receive here.
A positive image of the organization translates into repeat business and a more positive reputation in the neighborhood, Patient satisfaction translates into increased future revenues. It also has some positive impact on risk assessment as well. The more satisfied the customer is, the less likely they will file an adverse lawsuit against the hospital. Patient satisfaction has a direct impact on the profitability of the organization. The number of complains that the facility receives can also be an important measure of the overall customer satisfaction. However, this number alone may not tell the entire story. A customer survey is the best method for addressing overall satisfaction with the facility.
Patient involvement was another important indicator of BSC technologies. Patient involvement means providing…
References
National Health Foundation of California. 2004. Survey of Hospital Performance Measurement Activities in California. National Health Foundation of California. Available at http://www.nhfca.org/reports/PMSCAExecutiveSummary.pdf [Accessed 30 April 2008].
Walker, K. & Dunn, L. 2006. Improving hospital performance and productivity with the balanced scorecard. Academy of Health Care Management Journal. Annual. Available at http://findarticles.com/p/articles/mi_m1TOQ/is_2/ai_n25009491 [Accessed 30 April 2008].
The project will be initialized by system analysts who explore the implication of their current system and the constraints provided by the new MP solution. Project managers monitor the communication between the executive committee specifications and system analysts, while the it support division provides ongoing support, maintenance and training for the system. There are several constraints for this project, primarily, the MP solution must be developed in parallel in the current system so that no downtime is experienced during implementation. Which means that a flawless transition between systems must take place, taxing all agents involved. Implementation time will be significant because the longer the implementation period, more costs will accrue for double usage of the ongoing MP solution. However, careful implementation and training will allow for a smoother transition between systems, which will be crucial for operations. The training procedure will be two steps, first the it support staff then…
Resources software system analyst
System Software
MRP interface
GUI hardware
IT support
Performance/Reward System:
An organization can achieve a competitive edge only and only with the help of its employees. Therefore, it is necessary that right employees are selected then trained and developed and a performance-based reward system. The question then comes to the performance measurement system. In a furniture retail store where I work they stick to the old practice of a meeting of top managers and supervisor who sit down annually and critically review the performance of all customer service personnel. They carry out a thorough examination of employee performance with respect to the goal set for them by the management. In this setting where only goals are there to guide employees and performance appraisal system is vague and subjective, most employees are just interested in meeting their targets and they do not strive to exceed their employers expectations. Performance evaluation should be an evaluation and development tool with the…
Bibliography
Sims, R. (2002). Organizational Success through Effective Human Resources Management. Quorum Books. Westport, CT.
Kreiner, J. (2000). Examining the human Body. The Washington Times. March 18.
Prasad, S., Tata, J., & Thorn, R. (1999). The Influence of Organizational Structure on the Effectiveness of TQM Programs. Journal of Managerial Issue. Vol. 11.
HM
Characteristics of an Ideal Appraisal System
The concept of performance appraisal is not new; it has been undertaken for many years at organizational, departmental and individual levels as part of performance management strategies. There are many different types of appraisal systems, from standard feedback assessment to peer-based reviews and 360 degree reviews. The issue with many systems is not the underlying theory, but the way it is applied. An appraisal is simply a tool; the value will be in the way it is used rather than its presence. Therefore, when looking at appraisals it may be argued there are a number of key elements which should ideally be present in appraisal.
The key characteristics of any appraisal system will include the need to be clear and understood by those who use the system to give and/or receive appraisals with clear policy and implementation guidelines. The system should also have…
References
Atkins, P., Wood, R, (2002), Self-versus others' ratings as predictors of assessment center ratings: Validation evidence for 360-degree feedback programs, Personnel Psychology, 55(4), 871 -- 904
Boe, Gerard P, (2008), Performance standards: how well is the job being accomplished? An abbreviated approach, Journal of Continuing Education Topics & Issues, 10(3), 102.
Buchanan, D; Huczynski, A, (2007), Organisational Behaviour, Harlow, FT/Prentice Hall
Burke, Ronald J; Wilson, Douglas S. (1969), Characteristics Of Effective Employee Performance Review And Development Interviews, Personnel Psychology, 22(3), 291-305
Enterprise-Level Business Information Systems
In terms of workplace productivity and efficiency, one key aspect to when developing an effective information system for an enterprise is how to select a system that is simple enough to understand for the vast majority of its users, but technologically forward enough so that it has adequate backup for the data stored within the system's various components. Ideally as well, the system should be able to consolidate all data so that it may be shared at various levels within the business' structure, yet still have adequate passwords and security controls. "Experts say about 65% of all companies have lost control of the management or planning of a computer project at some stage," thus the creation of a system with adequate backup and maximum efficacy cannot be underestimated, not simply from a technical point-of-view, but also the point-of-view of the business as a whole. ("The Computer…
A. Discuss which business process mapping tools you recommend in documenting the design.
Firstly, the business must map out, what sorts of improvements or future successes, it desires to achieve with the new database design. If improvement of information sharing to increase sales is one goal, for instance, it must quantify the percentile increase it hopes to achieve. The overall success of the business in question must be quantified according to certain overall goals, as well as risks taken into consideration of not pursuing the new design. In documenting this design, firstly, the goals should be defined in terms of increased information sharing and data collection, coupled with the implementation of security procedures. After implementation, an audit of time saved by company members, questionnaires posited to company members regarding the system's ease and safety of usage, as well as an overall tabulation of increased productivity and sales must be taken into consideration. (Jacka & Keller, 2001)
In this area, it is important to remember that when new updates and projects go "astray, about 80% of the problem is management-oriented, not technical. You can hire lots of technicians to solve your problems, but most technicians
For startup companies, the key business functions include: Sales and Marketing, HR, Finance and Accounting, and Manufacturing. Present-day startups require information systems for monitoring all their business operations, such as business planning, material acquisition, production, quality control and delivery to markets. In view of the aforementioned key business roles of startup companies, the chief information systems required are; Marketing and Sales Information Systems, Production and Manufacturing Information Systems, Accounting and Finance Information Systems, Strategic Information Systems, Enterprise Collaboration or Office Automation Systems and HR Information Systems (Al-Mamary, Shamsuddin & Aziati, 2014).
Functions of Information Systems
Sales and Marketing Information Systems
Marketing and sales departments are in charge of selling company offerings. Marketing chiefly deals with: determining buyers of the company's services/products, ascertaining their demands and requirements, planning and creating services and products for satisfying their demands, and conducting advertising and promotion activities for these services and products. The sales function…
ADP in full refers to the Automatic Data Processing. I the computer world, ADP is defined as a system of one or numerous computers and associated software that have a common storage. This system is often referred to as ADPS meaning automatic data processing system prompting system. The various computers in this system and the associated artifacts are meant to work in a coherent manner or as a coherent entity.
There are various uses and importance of ADP systems implemented in several organizations. The ADP system is often used in payroll processing and payroll outsourcing for some organizations. In this case, there is a vendor that the organization gets linked to and helps it processing the payroll at the end of each month or whenever requested from a central point and the cash transmission to the individual employees and their payment details is automatically transmitted to their mail and accounts…
1. Privacy laws are continually in flux. The most recent blow to consumer privacy was the 2017 Congressional overturning of Internet privacy protections. According to the ACLU, those pro-privacy laws “would have prevented ISPs from sharing our browsing history with advertisers, forced ISPs to be clear about what information they’re collecting, and required ISPs to take reasonable steps to protect our data from hackers,” (ACLU, 2018). Several states, including Alaska, Washington, Oregon, Hawaii, and most of the Northeast have since begun the difficult process of working to reinstate Internet privacy laws (ACLU, 2018). The decision made in Washington, supported by the Trump administration, bequeaths a tremendous amount of power to Internet Service Providers (ISPs), giving them leeway and control over consumer information. Prior to this federal legislation, ISPs were not able to share customer data such as browsing history with marketers. The only potential benefit to customers would have been…