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Inventory control system case study
Project report on inventory management system
Why enterprise resource planning
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Market penetration
Ted’s business should pursue a market penetration strategy. The company should grow its current products (bikes), and services (bicycle repairs) in its current markets. For example, he should strategize to increase his market share by at least 4% by end of year one, and 14% by end of year 5. He should focus on selling more to the existing, and new customers such as tourists and students
Market development
The company should expand into new markets. For example, during the low seasons, he can expand into new locations, countries with its current product, and service offerings
Product development
With its current customer base, the company can create a new product line that will be attractive to existing customers and also
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For example, the market potentials, trends and bets practices should be clearly outlined.
Competitive Information- the nature of competition should be understood because it will determine the success of the company. He needs to be aware of his competitors and what they offer to customers so that he can advertise similar or better deals.
Government Regulation- He should understand the law and regulations that are likely to affect the company’s performances. For example, OSHA rules and regulations.
3). Identify and explain three business processes that Ted likely uses in his business and explain how a technology solution could help each one of them.
Material requirement planning- the company can control and manage inventor-using technology (Enterprise Resource Planning)
Sourcing for suppliers- he can use technology to look for the best suppliers (Material Requirements Planning)
Customer care- the company can manage customer relationship using the technology (Customer Relationship Management)
4). Ted has a website with information about his stores. Identify and explain two additional ways Ted could use the Internet in his business. Tie each use to a specific e-commerce business model and explain how that model
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Ted is not sure if he should implement an Enterprise Resource Planning (ERP) solution. Identify and explain three benefits to an ERP for Old Dominion Trail Bikes. Identify and explain two important considerations in implementing an ERP.
Reduced lead time Improved inventory system Customer satisfaction and faster decision making
9). If Ted implements an ERP for Old Dominion Trail Bikes, he will need to know whether the project was a success. List and explain three metrics (or measures) he can use to determine whether the project was a success.
Inventory numbers- if the company’s inventory levels changes either negatively or positively, then the ERP implementations was a success
New customer conversion- if the customer conversion rate improves then the ERP would have lead to these improvements.
Target- the company can determine if the targets are realized. Positive and or negative performance should be analyzed 10). Since neither Ted nor anyone on his staff has any experience with information technology, list and explain five things he should consider or address as he proceeds with his IT projects.
Costs- the cost associated with the project is significant to the projects success. The management should ensure that that the costs are
about what mix of product features and services might appeal to the customers he needed to target. Often, the need to move the instrument and a tech
Unacceptable performance variability reduction: the profit provided by WP over last few years varies significantly from $0 to $1,000,000. ERM will provide assessing the possibility and consequence of events happened. Furthermore, ERM will prepare the solution to avoid these events happen or control the impact when they happen. Therefore, ERM can help WP to earn a more stable profit which will be a great benefit to Peace Family, other employees and related stakeholders
An ERP Story : Background (A) and An ERP Story : Choosing a Project Leader (B)
By collected all the necessary resources we are be able to discuss more about ERP and the key factors in that in order to make the final conclusion for ERP. In the end the successful and unsuccessful are affected by several factors that explain in this essay.
A. To further my understanding of my friends business plan I would need to know the following:
-Customers: The company felt the importance of being customer-centric and innovate by adapting to customer
Controversial relationships between the client and implementation partner stop from the fact that the client feels that the implemented ERP solution does not cater to their business needs depending on the documented scope, and the end users cannot perform all these tasks that were implemented within the legacy systems without difficulty
It is important that an organization develops a coherent promoting strategy for the launch of every individual product in its portfolio. It’s of equal importance that these methods area unit compatible and support the firm’s overall objectives.
The ERP system allows a strategic flow of information between all areas within an enterprise in a consistently productive manner.
In order to be more productive and accurate, most of the companies depend on use of technology, with the help of enterprise resource planning (ERP) systems. (Olsen, and Saetre, 2007).
Different methods can be used in the evaluation; however, the major criteria used in evaluation should center on success factors like: efficiency, customer impact and satisfaction, business and direct success, and future potential (Mantel 273-274). The project should also be evaluated based upon the reasons why the project was selected in the first place, contributions to overall business goals, team member goals accomplished, and other factors that contributed to the strengths and weaknesses of the project. The true problem can lie in measuring the evaluation, especially when looking at earned values and expenditures. Therefore, it is important for the team to determine the measurement criteria before the project starts.
The project success can be considered as the accomplishment of a specific mix of desired goals and subjective measures listed out in the success criteria and evaluated at the end of the project. Achieving the company’s objectives has led to the quest for the success in projects that in turn prompted to formulate the factors that can lead to the success of the project. (Terry Cooke-Davies, 2002) ascertained that the factors are the inputs of a system that can lead to the success and the criteria as a measure of the tasks that must be carried out to determine the project success or failure, which in turn make the project acceptable to the client. In other words, the criterion sets the standards to test the project while the factors lead to the
In the commercial world the importance of keeping existing customers satisfied and expanding business is paramount.
Furthermore, the business can thus implement effective strategies that will allow the business to grow and offer products/goods that will satisfy the high demand from the
Managers must understand how to achieve efficiency internally through applying new technology to operational processes. Managing new technology requires a thorough understanding of business technology management.