By conserving expenses with a more reduced sized store, Tiffany & Co. was able to increase its number of outlets. Consequently, customers were given more accessibility and availability to the products. Most importantly, with a physical presence, people could ‘feel’ the prestigious atmosphere as they walk in, get high-end service from a salesperson, see and feel the jewelry, and walk out immediately with a diamond ring. In some sense, this gives competitive advantage to Tiffany & Co. as it would not be easy for Blue Nile’s customers to spend thousands of dollars for intangible products that they have not seen or touched. The delivery time also plays a
Businesses can channel their vital resources and workforce to foster business productivity as they need not divert their resources to business intelligence (BI) gathering work. Since all BI gathering work is handled by the BI team, it results in cost saving, time saving and efficient reporting supporting improved business productivity. The BI gathering team can pull up vital information from customer interactions and present it in a manner that is easy to understand, communicate and execute. BI gathering teams ensure that detailed reports are provided to companies ensuring that all the crucial information is presented in a well-documented and presentable manner so that information can be used to efficiently manage the
This consolidated database can be useful in terms of CRM, association, accounting, manufacturing and inventory of the business. In order to improve the efficiency, using the ERP system can reduce the number of the repeated processes and the need of manual input information. In addition, this system can also improve the business processes and make it be more effective and efficient in collecting data. Also, using the ERP software can help making report to be much easier and more flexible, and according to this advantage, it can lead to having more ability to respond and handle with complex data requests. Without help from IT support, users can run their own reports easily as the system will improve the accuracy, consistency, security of data, and accessibility to be reasonable in order to increase the ease of user’s usability.
Moreover, company has rewarded shareholders by paying regular dividends and had announced interim dividend at 35% in current year. • Because of its expansion and access to the global market, EPS is expected increase. Return on equity is expected to be higher than the peers due to the higher expected return and increase in revenue. • Company’s EPS for FY 13-14 stands at Rs. 32.
2. Cultivate relationships. • Long term relationships with suppliers can create win – win situations in many business encounters. • Customers are more educated and precise about what they need and want, they are concerned with business practices and even environmental aspects, therefore a supplier with high environmental concern and good business practices will bring advantages to the organization. 3.
Business people can run businesses more smoothly with the use of foreign languages and their foreign customers will feel more comfortable. In business administration, not only are speaking and listening skills important but also other skills including reading, writing and negotiating. A foreign language is successful communicator that applies principles of human behavior. It plays a role in assisting customers who face problems in communication, especially in terms of communication with multi-national companies and companies outside a country. Many businesses are looking for people who are fluent in other languages.
adapts Filipino lifestyle , values and culture with their core value as implemented in their company system to personnel administrative functions, performance management and employee relations. Technological Forces -A technological Innovation may have a great impact on the environment of the company. Technological changes can lessen the costs barriers between businesses , build shorter production runs, lesser man power that may result in changing principles and perceptions of the employees, and the whole management. Cebu Reliance Motor Parts Inc. takes this as an advantage for they transformed their distribution into a more convenient and fully automated warehouse with modern, innovative and high quality equipments. Economic Forces-Cebu Reliance Motor Parts is focused on identifying and fulfilling consumer needs in specific markets, but all businesses can be affected by large-scale economic trends.
Hence, keeping manufactures in close proximity to the headquarters enables more flexibility in changing orders when keeping in line with the dynamic market trends offering more control over its production process. Moreover, only price sensitive basic items were outsourced while manufacturing high fashion and time sensitive items internally, or via suppliers within close proximity. This enables easy reordering if items that are in demand and will be in stores more
Complexity Reduction is a focused and overt effort to eradicate costly and unnecessary complexity from our products, supply chain and back room process and organizations. Complexity reduction enables all other SFS elements and, when successfully deployed, results in world-class cost, speed of execution and customer satisfaction. Global Supply Management focuses on strategically leveraging the Company 's scale to achieve the best possible price and payment terms with the best possible quality, service and delivery among all categories of spend. Order-to-Cash Excellence is a methodical, process-based approach that provides a user-friendly, automated and error-proof customer experience from intent-to-purchase to shipping and billing to payment, while minimizing cash collection cycle time and DSO (Days Sales Outstanding). Common Platforms are an essential component of leveraging technology to facilitate organic growth and integration of acquired companies.
HFT has established a distribution system with combination of direct sales and indirect sales. Direct sales such as retail stores, which are mainly located at the MTR station, precisely meet the needs of target customers, providing convenience in terms of time, places and accessibility. In addition, indirect sales in the form of cooperation with third-party retailers effectively expand the accessibility of its products. Meanwhile, distinct products are carefully selected to be sold in different channels, which has largely reduced channels conflict. Furthermore, it prudently controls the number of franchises, which ensures its control over channels and maintains its service and products level.