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Justification of ERP Investments Part 1: Quantifiable Benefits from an ERP System
Studies that surveyed manufacturers about the impact of ERP systems on firm performance indicate that company size and industry do not affect the results

example award justification  stock price for the example company could be increased from $30 to $58.80 per share. Figure 3.3 Calculating the potential stock appreciation   Before ERP After ERP Before tax profit $500,000.00 $980,000.00 Earnings per share $ 5.00 $9.80 Current stock price $30.00 6 * 9.80 = $58.80 Multiplier 6 6 These calculations suggest that ERP systems can lead to significant impacts on financial results, including the balance sheet, income statement, key ratios, and stock price. This concludes Part One of a Read More

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Documents related to » example award justification


The Why of Data Collection
Data collection systems work; however, they require a investment in technology. Before the investment can be justified, we need to understand why a data

example award justification  the event happens. An example of this would be forwarding case counts to the production control system as the case goes past the scanner. An alternative example could include a selection of inventory for a shipment gained through a bar code reader on the forklift, and can be immediately used to update both the inventory and the order status. As an aside, when the need is termed real time , we should ask what that really means. It often means as soon as the person needs it , which could be either once a Read More
Competuition: Teach Competition to Your Procurement Process
High-profile corporate scandal has resulted in laws such as the Sarbanes-Oxley Act, to monitor business practices. To help safeguard against unethical practices

example award justification  Sole source is an example of non-competitive purchase or procurement process accomplished after soliciting and negotiating with only one source, so-called sole source, thus limiting full and open competition . Sole source solicitation constitutes a violation of the CICA unless it is justified under one of seven specific circumstances. These circumstances, which can be invoked as sole source justification, are described in FAR 6.302 as follows: Only one responsible source and no other supplies or services Read More
Harness the Power of Your Virtual Sales Team
Early in the campaign, the important thing is to get all your team members on the same page, share available knowledge, and plan ways to gather other required

example award justification  common purpose. If, for example, you need an expert to tell your prospect how your company provides tech support to its customers, but the person available for that task gets defensive and rude when questioned, you have some work to do. You'll need to coach that person before the meeting, or if that fails, bring in someone else. Don't leave it up to chance. Like any good manager, you must learn to depend on other people to achieve your goals. With this challenge in mind, how can you better manage your Read More
User Recommendations for Pricing Management
Price management might improve revenue (by a few percent) and gross margin (even by an umpteen percent), but the truly amazing benefits should only come when

example award justification  in the works. For example, the ability to handle multiple pricing waterfall definitions for different business units, in a single instance of product, is also being improved. Furthermore, a high percentage of Vendavo clients are also SAP clients, which should help SAP manage their expectations. Additionally, the improved price execution functionality should make SAP more competitive in non-SAP environments too. SAP has a solid native price execution functionality for administering prices once they are Read More
Vertical Marketing--What Is A Vertical?
What is vertical marketing? Vertical marketing is product and promotion efforts targeted at specific industries. Many benefits are derived from vertical

example award justification  a vertical. A good example is the market for manufacturing software. That market is usually subdivided into process and discrete. While this is meaningful from a product function point of view, it may not be very meaningful relative to marketing. End users do not think in terms of verticals. They do see themselves as a member of a group, and the definition of that group (see below) is what vendors need to identify as their vertical market. If you ask end users how they define their group, they might say Read More
Managing Global Trade Flows
In global trade, the flow of information must support the tracking and management of the goods to enable the secure and compliant entry and exit to and from

example award justification  and landed costs. For example Order management requires the ability to track the business terms of the order correctly. As an order progresses, it is essential to reconcile all shipment activities against the order to ensure that the process is smooth from a transactional and security perspective. Trade compliance requires the ability to manage import and export compliance processes. The proper management of these processes includes screening trading partners against governmental prohibition lists, Read More
The Art, Science, and Software behind (Optimal) Retail Pricing - Part 2
Part 1 of this blog post series expanded on some of TEC’s earlier articles about companies’ need for better pricing management and optimization practices. This

example award justification  soft drink product packaging example from Part 1 demonstrates another cannibalistic relationship in which each packing size is potentially a substitute for the others. Conversely, affinity is when the sale of one product has a positive impact on another. This is sometimes also called the  halo effect . For example, a retailer lowers the price on hot dogs and it ends up generating better than usual sales on buns, ketchup, mustard, and relish, all at their normal prices. In other words, complementary Read More
The Fuzzy Logic Between Lead and Lag Indicators
Analog Devices was the first company to implement a balanced scorecard company-wide on an Executive Information System. In fact, it has been running for 13

example award justification  point in time. For example, companies that achieve fast cycle times later reported triple the revenue growth and double the profits over industry average competitors. However, given the many complex interactions between parts of the organization and the external environment, a quantified linkage is a stretch. Architecture Impacts Companies need a business reporting architecture that ensures that the right information is provided at the right time. As opposed to quantifying the lead-lag relationship, Read More
How to Reshape Your Supply Chain Network (and Why You Need to Do It Now)
The landscape of the supply chain has changed drastically over the past five years. It went from local to global in manufacturing, procurement, sourcing

example award justification  the supply chain. For example, the customer could be in North America and ordering a product via the Internet from Ireland—but this creates a problem. Why? Each party involved is not aware of the rules and regulations they need to comply with, and do not understand that an order confirmation from the manufacturer is crucial to the retailer’s (manufacturer’s customer) delivery schedule to the end consumer. It is difficult to make the pieces of the puzzle fit cohesively. Each process within the Read More
Benchmarking: How Am I Really Performing?
Benchmarking, as defined by the dictionary, is

example award justification  not absolute numbers. For example, imagine if we told you that a good sales benchmark is $900,000. What would that tell you if you were operating a small store with only 800 square feet of selling space? It is almost impossible for a store that size to achieve sales of $900,000! A more realistic number for an 800-square-foot store would be sales of $400,000. So using the total sales number is really not a very good idea. A better way is to make the measure more fair is by using sales per square foot. Read More
Continuous Improvement Offers CMMS Maintenance Benefits
Computer maintenance management system (CMMS) packages are excellent tools for collecting, analyzing, and reporting data and can offer insight into a process

example award justification  a paradigm shift (for example, altering the mental models of company leadership). This isn't an easy feat because it may require a major change in attitude. To successfully overcome many related barriers, the continuous improvement program must focus on simple and measurable drivers. The three most effective drivers are time, quality and cost. Tracking time How much time do you spend each day doing unproductive activities, such as waiting for someone to answer the phone, setting up an appointment or Read More
To ERP or Not to ERP, that Is the C-level Question
Whether your organization is looking to take the leap into an enterprise resource planning (ERP) system for the first time or seeking to add to the current ERP

example award justification  by your organization. An example high-level view of an ERP system broken down into its composite application modules is shown below. In this example, an ERP system that would support the needs of the organization includes the functional modules of financials, human capital management, customer relationship management, transportation management, manufacturing management, and inventory management. ERP Component Examples Let’s look at a couple of examples where a best-of-breed, component approach to an ERP Read More
6 Steps for Linking Corporate Strategy to the Budget
Ask any three people in an organization why they budget and you’ll get three different answers. But no one says they budget in order to direct the way in which

example award justification  performance management. The following example uses Extensity® MPC performance management software to illustrate how technology can improve the visibility of the cause-and-effect relationships of corporate strategies, day-to-day activities, and the resources that support them. Creating the Strategic Plan with Extensity® MPC Extensity MPC's strategy management capabilities enable senior executives and operational managers to work together in creating plans. It supports a range of management Read More
Is There a Way to Avoid Lengthy Catalog Numbers?
A sales configurator needs to be able to

example award justification  even nested sequences. An example to illustrate where intelligent serialization is important would be ensuring that a 480-volt, 5-horsepower, 10-ampere combination of a conductor's features will always be identified with the number 1 in a particular position of the part number. This logic resembles the sequences' and positions' designations in bar codes, where a 480-volt, 10-horsepower, 10-ampere set, for example, annotated with 2 would do the same, and so on. By creating this sort of metadata, one can Read More

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