Reference: Company B is currently running on an average rate. It does not earn too much but it makes sales enough for maintenance, salaries, income, and savings. Its business process includes cleaning and maintaining, purchasing, and kitchen work. They train their staff to be all-around workers who can do multitasking. In terms of management, they only make use of the basics since it is the only strategy needed. Company B makes use of a traditional inventory wherein they manually count their stocks and money. There is a designated person for each task. For its supplies, they make use of the consignment method. In this case, they only have one supplier for liquors. For other supplies which are accessible, they usually buy from the wet market nearby. Overall, Company B is in this venture because of the owner's passion and love for food. 3 Problems seen in the situation: 1. It does not earn too much but it makes sales enough for maintenance, salaries, income, and savings. 2. Company B makes use of a traditional inventory wherein they manually count their stocks and money. 3. They only have one supplier for liquors. For other supplies which are accessible, they usually buy from the wet market nearby. Goal: The goal of every company is to acquire a high profit margin and have good market share while minimizing costs for their operations. Along the way, most companies encounter problems that hinder them from achieving their goals. Some problems can be answered by simply allocating more budget for human resources, hardware or software upgrades, other problems would require more than the above- mentioned solutions. Simply put, companies will achieve their goals and improve their operations with the best use of computer technology, this can be done with the right evaluation and proposal of solutions through this business case. Proposed Solutions: Solution for no. 1- Digital marketing Solution for no. 2- Perpetual Inventory System Solution for no. 3- Supplier Quality Management System Were my proposed solutions right? I have already researched to come up with these solutions, but I am still doubting if they are the right ones because I have a hard time comprehending how they will fully work with the problems. Or, Can someone help me have a better solution if there is any? Or, if the solutions are already reasonable, can someone help me comprehend them better on how they will work with the problems?
Reference: Company B is currently running on an average rate. It does not earn too much but it makes sales enough for maintenance, salaries, income, and savings. Its business process includes cleaning and maintaining, purchasing, and kitchen work. They train their staff to be all-around workers who can do multitasking. In terms of management, they only make use of the basics since it is the only strategy needed. Company B makes use of a traditional inventory wherein they manually count their stocks and money. There is a designated person for each task. For its supplies, they make use of the consignment method. In this case, they only have one supplier for liquors. For other supplies which are accessible, they usually buy from the wet market nearby. Overall, Company B is in this venture because of the owner's passion and love for food. 3 Problems seen in the situation: 1. It does not earn too much but it makes sales enough for maintenance, salaries, income, and savings. 2. Company B makes use of a traditional inventory wherein they manually count their stocks and money. 3. They only have one supplier for liquors. For other supplies which are accessible, they usually buy from the wet market nearby. Goal: The goal of every company is to acquire a high profit margin and have good market share while minimizing costs for their operations. Along the way, most companies encounter problems that hinder them from achieving their goals. Some problems can be answered by simply allocating more budget for human resources, hardware or software upgrades, other problems would require more than the above- mentioned solutions. Simply put, companies will achieve their goals and improve their operations with the best use of computer technology, this can be done with the right evaluation and proposal of solutions through this business case. Proposed Solutions: Solution for no. 1- Digital marketing Solution for no. 2- Perpetual Inventory System Solution for no. 3- Supplier Quality Management System Were my proposed solutions right? I have already researched to come up with these solutions, but I am still doubting if they are the right ones because I have a hard time comprehending how they will fully work with the problems. Or, Can someone help me have a better solution if there is any? Or, if the solutions are already reasonable, can someone help me comprehend them better on how they will work with the problems?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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