it led strategy towards enhanced profits and future expansion for a local bakery
DESCRIPTION
A research on the functioning of a local Bakery for a city. It studies the market scenario for the bakeries and patesseries in Gurgaon vis-a-vis The Captain's Table, a local bakery and what IT-led strategies it should adopt to steer clear of the increasing competition. The research provides the feasibility and validity of the suggested ERP system for the SME and its implications in the future.TRANSCRIPT
MIS Report Group 3 | 1
IS PLAN For
THE CAPTAIN’S TABLE
SUBMITTED TO
DR. DHRUV NATH
BY: GROUP 3, SECTION – D
Akashdeep Gupta (10P185) Anant Garg (10P187) Ashutosh Chaudhary (10P193) Harpreet Singh (10P200)
Kalika Jain (10P203)
Kamal Pandey (10P204)
DATE OF SUBMISSION: 12 MARCH 2011
Management Development Institute
Gurgaon-122001
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Acknowledgment
We are deeply indebted to Dr. Dhruv Nath, Professor, Information Management,
Management Development Institute, Gurgaon whose help, stimulating suggestions and
encouragement helped us in the time of research for developing the IS plan.
We would also like to thank Ms. Shruti Sud, the co-owner and manager of The Captain’s
Table for giving us valuable information about her bakery without which the project could
not have been complete.
Contact Information
1. Capt. Arvind Sud
Proprietor – The Captain’s Table
Mob.: +91 9953886109
2. Ms. Shruti Sud
Manager – The Captain’s Table
Mob.: +91 9911271169
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Executive Summary
The Business Analysis Report (BAR) documents the goals for The Captain’s Table based on discussion with management, identifies strategies for the defined goals, and goes on to determine information requirements, drawing in part from a process study. The report concludes by listing key application functionalities required to fulfil critical success factors. The relevance of IT-driven business processes is well-established for organisations that have the characteristics of high volume of transactions, frequent product launches and high growth rates. The bakery in question has goals and visions which it seeks to answer through the application of IT led strategies. The Captain’s Table is an established bakery in the Sector 14 market of Gurgaon from the past seven years. With an annual turnover above 3 lacs and association with retail stores such as Spencers and SRS, the enterprise is looking at avenues of rapid expansion. Following set of Long Term and Short Term Goals were determined after a set of detailed interview based discussions with Ms. Shruti Sud, Manager – The Captain’s Table.
Long Term Goals 1. Establish the brand "The Captain’s Table"
2. Expand "The Captain’s Table" successfully over the NCR region
Short Term Goals
1. Bring down wastage and pilferage to a tenth of what was being produced currently
2. Incorporate proper inventory management systems to expedite the procurement process
3. Introduce a comprehensive accounting system which integrates all the revenue generating units of the enterprise
4. Increase visibility of the enterprise vis-à-vis the competition
The stated goals are identified and IT applications are developed for their accomplishment.
The following applications are proposed for implementation:
The Captain’s Table Inventory Management System (TCT IMS)
The Captain’s Table Customer Relationship Management (TCT CRM)
The Captain’s Table Forecast Management System (TCT FMS)
The Captain’s Table Accounts Management System (TCT AMS)
The Captain’s Table Personnel Management System (TCT PMS)
Thus, the report analyses the stated goals and the feasibility of the proposed IT applications.
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Table of Contents
1. INTRODUCTION………………………………………………………………………………………………………05
1.1 Captain’s Table - The story so far………………………………………………………………………..05
1.2 Business Model and Organizational Structure……………………………………………………..05
1.3 The Vision…………………………………………………………………………………………………………….07
2. CURRENT BUSINESS ENVIRONMENT……………………………………………………………………….08
3. CHALLENGES…………………………………………………………………………………………………………..11
4. ORGANIZATIONAL GOALS……………………………………………………………………………………….12
1.1 Methodology………………………………………………………………………………………………………..12
1.2 Long Term Goals…………………………………………………………………………………………………..12
1.3 Short Term Goals………………………………………………………………………………………………….12
5. STRATEGIES AND CRITICAL SUCCESS FACTORS………………………………………………………..13
1.1 Methodology…………………………………………………………………………………………………………13
1.2 Identified Strategy and related CSFs……………………………………………………………………..13
6. ANALYSIS OF CURRENT INFORMATION SYSTEMS AND INFORMATION GAPS………..16
1.1 Current Information Systems Assessment…………………………………………………………….16
1.2 Key Information Requirement………………………………………………………………………........16
1.3 Information Gaps and Automation Options…………………………………………………….......16
7. POSSIBLE IT INTERVENTIONS…………………………………………………………………………………..18
8. PRIORITIZATION……………………………………………………………………………………………………..21
1.1 Value Analysis………………………………………………………………………………………………….21
1.2 Readiness Analysis…………………………………………………………………………………………..22
1.3 Readiness Value Matrix……………………………………………………………………………………23
9. IMPLEMENTATION PLAN…………………………………………………………………………………………24
10. CONCLUSION………………………………………………….………………………………………………….25
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1. Introduction
1.1 The Captain’s Table – The story so far
It all started in the fall of 2003. A couple’s vision gave birth to an enterprise whose aim was to
satiate the taste buds of the city. In October 2003, Capt. Arvind Sud and Ms. Shruti Sud
started The Captain’s Table – a bakery which was innovative yet traditional, delicious yet
healthy, and though a shop yet homely ambient. Seven years later it has become the apple of
the eye of the people who flock the Sector 14 market. Be it the coconut pie or the chocolate
truffle or the cheese puffs, The Captain’s Table had the best variety a bakery could possibly
offer.
The Captain’s Table boasted of a spacious restaurant which was situated in the basement of
the bakery. It served as the perfect hanging out joint for the young and the old who enjoyed
the mouth-watering delicacies with the soothing ambience. But, unfortunately because of
some operational issues it had to be closed down in May 2010.
But just like it always had something new and exciting on its menu, The Captain’s Table also
had other sources of revenue generation at hand. It started supplying confectionary and
bakery items to the Spencer Retail Store in DLF Mall from October 2009. This year, i.e. in
2011, The Captain’s Table has acquired a separate counter at the SRS store in the new Raheja
Mall on Sohna road. This counter is not only bringing in more sales, but is also increasing the
market presence of the bakery. At present, The Captain’s Table has a turnover of above 3 lacs
annually from all the selling points.
During the discussions with Ms. Shruti Sud, the manager of the bakery, the vision of the
bakery were made clear. The Captain’s Table wants to establish itself as a brand all over
Gurgaon and also in the NCR region in the near future, apart from increase in the annual
sales.
1.2 Business Model and Organizational Structure
Mission Statement: Focus on mediocre personal gains with expansion through improved
returns from the lowest level.
The Business Model of Captain’s Table is that followed by any small in-house bakery. The
focus is on catering to the demands of the local area and providing innovative and quality
products superior to the branded products available in the market. The marketing spend is
low but inclination is more on providing preferred and tailor-made products for the
customers. The model is easy to function with and positions the bakery well in the market in
which it is situated.
The bakery works by providing two kinds of product types – one, which are pre-made and
others, which are ordered by the customers and can be customized based upon their
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requirements and preferences. The orders can be placed over the counter or over the phone,
as per the convenience of the customer.
Apart from the shop, the bakery also has an association with a Spencers Retail Shop, which
sells products of the bakery such as bread, muffins, etc. It also has an outlet at SRS Store in
Raheja mall, which is manned by a sales boy. The outlet provides the bakery a better
presence vis-à-vis the Spencers.
Currently, the bakery doesn’t have a specific hierarchical organizational structure with
positions of responsibility being rotated depending upon the requirements for a certain day
or period. The bakery is headed and managed by Ms. Shruti Sud, who’s a co-owner with Mr.
Sud. The organizational chart is shown below.
Organizational Chart of The Captain’s Table
As shown, the bakery has three bakers who are responsible for the production of the bakery
items sold. These bakers are supported by a helper staff of three, which means every baker
can have a separate helper at any given moment. Moreover, these helpers double as cleaners
and secondary help to the two counter boys, as and when they are needed. The billing
counter is manned by one cashier. In contingencies, the bakers might do the jobs assigned to
the helpers in the kitchen. Similarly, the billing counter is manned by any of the counter boys
in the absence of the cashier and vice versa. The sales boy manning the outlet at the SRS
Store also doubles as the cashier for the sales.
Ms. Shruti Sud
Co-owner/ Manager
Bakers
(3)
Helpers
(3)
Customer
Attendants (2)
Cashier
(1)
Outlet
Attendant (1)
At bakery shop At retail outlet
Interchangeable roles when required
Capt. Arvind Sud
Proprietor
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1.3 The Vision
The vision of The Captain’s Table is to become a brand name by 2020, primarily in Gurgaon
and also in the rest of NCR. The bakery-cum-restaurant in the past was a step in this direction
but could not succeed because of improper operations planning and ignorance of public
demand. But of late, it has started expanding by making presence through Spencers and
other retail outlets. This step is helping the bakery in a two-fold manner – first, it is providing
the required market presence and second, it is bringing more revenue which is required by
the enterprise to further its business.
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2. Current Business Environment
The current business environment for The Captain’s Table is not very competitive but is
steadily moving towards it. With the presence of established players like Bisq, Om Sweets and
Café Coffee Day, and also small time bakeries, grocery shops, etc. it is important to capitulate
on the existing image of the brand before it gets diluted. Although The Captain’s Table is not a
big organisation, still a SWOT and Porter’s Five Forces analysis might help in ascertaining the
market in a more comprehensive manner.
SWOT Analysis
Strengths Weaknesses
1. Only shop in the area providing exclusive bakery products
2. Presence in the area from a long time 3. Established customer base 4. Large variety of bakery products
available 5. Provides everyday grocery product
such as breads, buns, etc to retailers such as Spencers which enhances its market presence
1. Inefficient information systems being used which hamper growth
2. Only a single presence in terms of eating joint
3. Mediocre customer service diluting brand image
4. Discouraging sit-and-eat option as the seating area is small, which decreases customer attachment and thus sales
Opportunities Threats
1. Increasing inclination of customers towards baked goods, because of avoidance of oily food due to health concerns
2. Competition at a nascent stage 3. Very few bakeries providing such
variety of products 4. Influx of youth in Gurgaon through
corporate and educational institutions, thus home delivery a good option
1. Slow but steady emergence of competition
2. Established bakery chains from NCR region trying to gain a foothold in the Gurgaon market
3. Grocery and Departmental stores have started stocking bakery products of the organisations like Britannia, etc.
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Porter’s Five Forces Analysis
Threat of intense segment rivalry
The bakery market is expanding everyday in the city. With this continuous expansion the established
players are increasing their hold in the market. This is increasing the competition and puts the bakery
under the threat of segment rivalry. Established players such as Om Sweets or Bisq have developed
eating joint model which provides the customers more options. Introduction of newer products is also
difficult.
Threat of new entrants
The threat of new entrants is fairly easy as the market is governed by prices making it easier for
anybody to enter. In the same manner, exit barriers are also absent and anybody can leave without
any resistance from the competition.
Threat of bargaining power of suppliers
As the competition is not severe, thus it also has an effect over the suppliers which are also large in
number and thus possess little bargaining power.
Potential
Entrants
Industry
Competitors
Rivalry among existing firms
Substitutes
Suppliers Buyers
Threat of new entrant
Bargaining power of
customers
Bargaining power of
suppliers
Threat of substitute
product or service
(Medium)
(High)
(Medium)
(Low)
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Threat of bargaining power of customers
As there is low brand value for the players, the customers possess high bargaining power. They don’t
have loyalty and base their choice over the prices offered. Absence of switching cost also helps them
to have the specified behaviour.
Threat of substitutes
The market has seen an influx of products such as cakes, muffins, puffs, etc. from big organizations
such as Nestlé, Britannia, Parle, ITC, etc. These substitute products have a better penetration in the
market and pose a decent threat to the bakery business.
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3. Challenges
The challenge for Captain’s Table is to maximize profits while maintaining quality and
heightened customer satisfaction. After delving into the possible causes of concerns and
bottlenecks which the enterprise was facing, the following challenges were figured which
collectively formed a hindrance to the profits:
1. Absence of control measures for wastage and pilferage
The Captain’s Table doesn’t have any means to control the wastage and pilferage happening
during the production as well as the selling process. The minimization of the waste is done
through approximate forecast of demand based upon the past sales figures. This method is
crude and doesn’t give the right picture. Thus, there is little or no reduction in the pilferage of
the products.
2. Absence of comprehensive Inventory management systems
As stated earlier, The Captain’s Table deploys crude methods for forecasting future demands.
This has an adverse effect on the inventory management of the enterprise. This also results in
wrong procurement cycle and leads to storage problems as well.
3. Absence of proper systems for accounting and billing functions
The system for cash accounting in The Captain’s Table is manual and is maintained by the
cashier. This system has its drawback in the manner that any anomaly in the accounts is
difficult to identify. Moreover, analyzing the sales data is complicated with manual data input
through this system.
4. Loss of market share because of increasing competition
The increasing competition in the market is diluting the market share of the bakery. The
enterprise is facing competition both from the local players, who are also cashing on the
increase in demand of the bakery products, as well as organized players like Nestlé, Britannia,
Parle, ITC, etc.
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4. Organizational Goals
1.1 Methodology
For the purpose of determining the Organizational goals for The Captain’s Table, interview
based discussions were conducted, both with the employer as well as the employees. Based
on their insights about the business and the issues they felt were affecting it, a list of both
Long Term and Short Term goals were deduced.
1.2 Long Term Goals
Goals with a time horizon of more than 5 years were categorized as long term goals. These
were identified after studying the strengths of The Captain’s Table and the opportunity the
market offered.
1. Establish brand “The Captain’s Table”
2. Expand “The Captain’s Table” successfully over the NCR region
1.3 Short Term Goals
Short term goals were those which were identified to have a period of 1-2 years for
accomplishment.
1. Bring down wastage and pilferage to a tenth of what was being produced
currently
2. Incorporate proper inventory management systems to expedite the
procurement process
3. Introduce a comprehensive accounting system which integrates all the revenue
generating units of the enterprise
4. Increase visibility of the enterprise vis-à-vis the competition
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5. Strategies and Critical Success Factors
1.1 Methodology
Strategies for the goals identified were worked out based on their analysis both in isolation as
well as collectively.
In terms of isolated viewing, goals were assessed on the requirements which were necessary
for their individual accomplishment. On the contrary, a collective approach was followed so
as to ascertain the strategies that the goals would require with respect to the market and
existing competition.
The Critical Success Factors (CSFs) are the differentiating factors which increase the
probability of the success of a strategy. In the given case, the CSFs were identified in
accordance with the strategies that were to be adopted for the accomplishment of the goals.
1.2 Identified Strategy
LTG1 – Establish brand “The Captain’s Table”
# Strategy Critical Success Factors
1. Increased marketing and advertising efforts
Point of Difference and Point of Parity
Communication Mix
Product Innovation
2. Improved packaging Quality
Creativity
Pricing
3. Increase in number of outlets Ease of availability of space
Collaboration with retailers and grocery stores
Standardized design for eating joints to facilitate quick implementation
LTG2 – Expand “The Captain’s Table” throught the NCR Region
# Strategy Critical Success Factors
1. Association with Retail Chains
Low price and Better margin
Wide range of products
Efficient delivery
2. Establishing more eating joints
Mapping customer requirement in every region of establishment
Customized ambience in-tune with the customer preference
Focused marketing for every region of establishment
3. Introduction of Street Stalls and Kiosks
Heightened visibility
Increased market penetration
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STG1 – Bring down the wastage and pilferage to one-tenth of what was being produced
currently
# Strategy Critical Success Factors
1. Adoption of robust forecasting methods
Standardized forecast mechanism
Inclusion of factors such as Seasonality
Better forecast figures than previous ones
2. Enhancing efficiency of production cycle
Controlled production
Enhanced supervision at the production level
Deployment of methods such as Kanban, Jidoka, etc.
STG2 – Incorporate proper inventory management systems to expedite the procurement
process
# Strategy Critical Success Factors
1. Collation of daily raw material usage
Daily material usage figure
Expeditious assignment of raw material to production
2. Working out better deals with suppliers
Assured supply
Cost benefit as compared to the competitors
Assurance of quality
Supply in case of emergency i.e. sudden increase in demand
STG3 – Introduce a comprehensive accounting system which integrates all the revenue
generating units of the enterprise
# Strategy Critical Success Factors
1. Uniform pricing structure for all products
Ease of management of price
Better management in case of price wars
2. Automated centralized accounting system
Ease in analyzing sales from any sales point
Easier calculation of turnover for any period
Enhanced control over sales-personnel
3. Minimization in sale of loose units Easier to track shop-lifting and theft
4. Usage of bar codes for sale of products to monitor exact sales figure
Exact sales figures
Ease in forecasting sales
Faster execution of sales leading to enhanced customer satisfaction
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STG4 – Increase visibility of the enterprise vis-à-vis competition
# Strategy Critical Success Factors
1. Expediting processes at the shop
Heightened customer satisfaction
Reduction in waiting line
Better process management
2. Employing promotional strategies
Increased customer preference
Better after-image of the brand
Better assessment of customer requirement
3. Collaborating with corporate and other enterprises
First mover advantage
Avenue of steady demand
Enhanced credibility
Better exposure to customer preferences
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6. Analysis of Current Information Systems and Information Gaps
1.1 Current Information Systems Assessment
The current information systems used at The Captain’s Table are all manual in nature. These
information systems are updated every day, and the inventory is maintained based on these
entries. There are four categories of information which is maintained under these
information systems, namely:
1. Daily sales figures
2. Raw material stock
3. Finished goods stock
4. Cash balance
1.2 Key Information Required
The current information system of the bakery is complex to maintain and does not have a
standard manner of being collected. Thus, a proper information system becomes the need of
the hour for the enterprise. After analysis of all the CSFs and the current information systems,
following information set would be required.
1. Comprehensive sales data for each day, collated over a month
2. Stock of finished goods every morning with the exact number of units for each
product
3. Stock of raw material consumed over the day/ one manufacturing cycle
4. Average amount of material required for a unit/lot of a particular product
5. Number of personnel at work on a day
6. Number of competitors
1.3 Information Gaps and Automation Required
From the list of current information systems at The Captain’s Table and the required
information set, the existing information gaps can be ascertained.
Key Information Required
Information provided by
current systems
Existing Information Gaps
Automation Required
Comprehensive sales data for each day, collated over a month
Yes
Does not give separate sales figures for the eating joint and the retail outlets
Yes
Stock of finished goods every morning with the exact number of units for each product
Yes Exact number of units not mentioned
Yes
Stock of raw material consumed over the day/ one manufacturing cycle
Yes Data tells overall consumption only
Yes
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Average amount of material required for a unit/lot of a particular product
No
No method to put the data; estimated amounts based on experience are used
Yes
Number of personnel at work on a day Yes No standard protocol Yes
Number of competitors No No intention to find Yes
Moreover, automation would also be required for streamlining the accounting methods of
the enterprise.
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7. Possible IT Interventions
From the analysis of the information collected from The Captain’s Table, it can be concluded
that the information systems are complex and old, lack in a number of areas and hamper the
vision of the enterprise as a whole. Thus, it becomes the need of the hour to replace them
with efficient IT systems which can answer the requirements of the enterprise
comprehensively, and aid it to achieve its goals.
Following are the possible IT applications which The Captain’s Table should employ, based on
the CSFs and Information Gaps identified:
The Captain’s Table Inventory Management System (TCT IMS)
The TCT IMS would be having the following sub applications:
Raw Material Management System (RMMS)
Finished Goods Record System (FGRS)
Sales Record System (SRS)
Scope This system will, as the name suggests, provide the support for inventory
management.
Business Logic The application will work in three areas – Raw Material Stock, Finished
Goods Stock and Sales Figures. The application will combine the above
stated figures to generate a daily log of the same in a collective manner.
Inputs Daily sales forecast (Initially manual, then automated). Inventory
Information regarding Raw material stock, finished goods stock and sales
figure (amount)
Outputs Daily Inventory report, Wastage report and Cost Analysis
Databases [CRU-]Raw material database, [CRU-]Finished Goods Database, [-R--]Sales
Database
Performance Expected Users
Accounts Manager at all outlets and the central location
The Captain’s Table Customer Relationship Management (TCT CRM)
Scope CRM system will be used to maintain customer database and generate
analysis on customer behavior and preferences.
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Business Logic Analysis of customer data can provide rich insight into customer’s
purchasing power, buying preferences, likes and dislikes etc. It
would help to provide customised products and services at
premium to the selected customers.
Special occasions like birthdays, anniversary etc. constitute major
portion of annuals sales. Customer data could be used to pitch
products to the customers and also to forecast sales for a particular
day.
Customer data can be used to maintain customer relations by
contacting through phone calls or SMSs. This would help in
generating repeat business.
Analysis of customer data will help in identifying customer segment
and targeting new customers.
Inputs Customer phone nos., address, personal details, preference etc.
Outputs Customer analysis report (Geography, Income, Age, Frequency
segmentation), Daily notifications for contacting customers
Databases [CRUD] Customer Information Database (Address, Phone no, Preference,
Complains etc.)
The Captain’s Table Forecast Management System (TCT FMS)
Scope This system would generate steady forecasts based on past sales figures
employing a robust forecasting mechanism. The TCT FMS will not only
generate figures as target sales but will also aid in determining the budget
of the enterprise.
Business Logic TCT is in the business of perishable food items. To achieve the target of
cost control it is imperative to have forecasting capability. Historical sales
data, data from point of sales and CRM system will be used in generating
daily and weekly forecasts. The forecasting mechanism can be different
for different sales points, thus giving an all-encompassing forecast.
Inputs Historical sales data, Data from CRM system regarding special occasions
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like birthdays, anniversary etc.
Outputs Daily sales forecasts for each outlet
Databases [-R-] Transaction History Database, [CRUD]Forecast Database
The Captain’s Table Accounts Management System (TCT AMS)
Scope This system will provide The Captain’s Table a panoptic view of all the
financial transactions taking place at the retail outlets as well as the eating
joints.
Business Logic All the transactions will be recorded and sales figures compiled on daily
basis. It will connect to TCT IMS and TCT PMS to compile inventory costs
and employee costs. This reports generated from the data will be used for
financial planning and cost control.
Inputs Employee information, payroll information, leaves and advances etc.
Outputs Profit and loss statements, costs and works accounting reports, variance
analysis reports.
Databases [CRU-] Sales, [CRU-] Purchases, [CRU-] Expenses, [--R-] Payroll Database
The Captain’s Table Personnel Management System (TCT PMS)
Scope This application is suggested keeping in mind the vision of The Captain’s
Table to expand and create a brand name in the future. Thus, as the size
of the organization grows, the size of the workforce would also grow with
it. Hence, it is very important to have a system which helps in better
management of the workforce.
Business Logic The TCT PMS will contain the data such as attendance, leave, salary and
wages, incentives, etc. It will also be connected to TCT AMS for accounting
purposes.
Inputs Employee information, payroll information, leaves and advances etc.
Outputs Payroll generation, reports on employee productivity, manpower planning
Databases [CRU-] Employee Database, [CRU-] Payroll Database
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8. Prioritization
1.1 Value Analysis
Information System
Sales Improvement
Cost Reduction Planning Facilitation
Overall Impact
Inventory Management
System (TCTIMS)
NA
Customer Relationship Management (TCTCRM)
NA
Forecast Management System (TCTFMS) Account Management System (TCTAMS)
NA
Personnel Management System (TCTPMS)
Size of segment shows relative contribution for a given attribute.
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1.2 Readiness Analysis
Information System
People Issues
Data Issues Technology Issues
Other Issues Readiness
Inventory Management
System (TCTIMS)
No dedicated person to account for inventory.
Automating Inventory data collection tough and costly
No issue No previous process to log inventory transactions.
Customer Relationship Management (TCTCRM)
No issue No previous data. Database needs to be built up from scratch.
No issue No issue
Forecast Management System (TCTFMS)
No issue Historical data difficult to obtain intially, to test the forecast models.
Forecast models need to be developed.
No issue
Account Management System (TCTAMS)
Could lead to worker overload
No issue No issue No existing process for cost and work accounting
Personnel Management System (TCTPMS)
Performance tracking could be an issue
Performance Metrics not defined
No issue No issue
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1.3 Readiness Value Matrix V
alu
e
Readiness
Customer Relationship Management
Personnel Management System
Inventory Management System
Forecast Management System
Account Management System
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9. Implementation Plan
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10. Conclusion
The report suggests that the goals suggested by the enterprise can be achieved on
comprehensive implementation of proposed IT led strategies. Moreover, on analysis of the
existing information systems at The Captain’s Table, it was found that they were manual and
inefficient which was becoming a bottleneck in the smooth functioning of the enterprise.
Thus, proposed strategies would be beneficial as they were not only efficient and robust, but
also had the flexibility of incorporating future expansion plans of the bakery.