Studo Guide Mis Essay Example for Free

Studo Guide Mis EssayData gathering and insurance coerage by manual process can affect the barter as humans mistakes discover with the info entry. It is also time consuming as it keeps back the completion of the profit and loss statements, as some discussion sections inquire to update data after submitting in which the analyst has to send the original re-create and forbear for completion before entering it into the final document. By haveing data of fifty plate at the same time and entering it into a spread sheet wont enjoin which agate line branch is experiencing problems and if they are making a lost or a profit. It go out squeeze the condescension as this spreadsheet software doesnt specify in detail the business braches performance and willing lead to make a lost in some branches. The business should see software that will permit them to sacrifice a closer look of the business performance of each branch. If a business branch is always making mistakes in th eir reports the person in charge of thatCASE STUDYSnyders of Hanover New Systems for an Old Family Company Harry V. Warehime began tempting the taste buds of southern Pennsylvanians with his Hanover Olde Tyme Pretzels in 1909. Since consequently, Snyders of Hanover, as the company came to be k in a flashn, has expanded its business beyond any scope that its founder might have dared to imagine. Snyders of Hanover remains a family-owned and family-run company, but it has become the worlds second largest pretzel maker, with 12.1 percent of the pretzel market. Snyders pretzel and chip varieties include Old Tyme Pretzels, Jalapeno Pieces, Butter Snaps, and EatSmart All Natural Veggie Crisps, as rise up as new(prenominal) popular snacks. In 2002, Snyders posted revenues of $164 trillion, trailing only Rold Gold, the reigning flair of the pretzel industry.In addition to manufacturing its complete line of snack foods, Snyders distributes its own crossings, as well as those of other sn ack food companies such as Tasty Baking Companys Tastykakes. With 40 diffusion facilities all over the United States and Europe, over 4,500 products, and over 150 product lines, the home blot in Hanover, Pennsylvania, has a considerable amount of data to manage. If there was one last vestige of ancient business left at Snyders, it was the companys method of managing and analyzing data. Although Snyders sells more than than 78 million bags of pretzels, chips, and organic snack items each year, some of its core schemas were still heavily manual and paper-based. Snyders pecuniary department was using electronic spreadsheets for much of its data-gathering and reporting.Lois Stambaugh, Hanovers financial analyst, would spend the entire final workweek of each month collecting Excel spreadsheets from the heads of more than 50 departments worldwide. Then she would consolidate and reenter all the data into another Excel spreadsheet, which would serve as the companys monthly profit-and -loss statement. The financial data were harvested and consolidate the same way at the end of each fiscal quarter and the end of each year. The arouse presence of the human factor made data-entry mistakes a concern. If a department needed to update its data with last-minute information after submitting its spreadsheet to the main office, the head analyst had to return the original spreadsheet, and then wait for the department to resubmit its data, before finally entering the updated data in the consolidated document.Perhaps approximately important, this system of gathering the companys financial statistics at regular, but infrequent, intervals meant that important data only when were not available as often as they were needed. Snyders lacked the ability to react to sudden trends and episodic events because the data were supplied too late to ad alone shipping schedules, pricing schedules, or delivery counts. CEO Michael Warehime and his precaution team could track the gross pro fits of business units but not the performance of each of Snyders 4,500-plus products and over 150 product lines. For example, the spreadsheet-based system lacked the detail to show whether a specific snack product such as Sourdough Hard Pretzels or Pumpernickel Onion Sticks was actually making or losing money. For a business focused on both occupation and distribution, this was a hindrance to growth.Additionally, the spreadsheets could not reveal which distribution routes were worthwhile and which were cutting into the companys profit margin. Under these circumstances, Snyders could only use the sales data it collected to make rough predictions about how much of a product should be manufacture and how quickly a product run should be repeated on a particular distribution route. Snyders market share had been growing steadily until 2002, when it suddenly stalled its annual sales growth, which had outpaced the industrys for years, was then no better than average. It was time to lea p forward to a more modern go up in which the company could react to data immediately.In late 2002, Snyders of Hanover solicited the help of Satori Group, a supplier of business performance management solutions to the consumer packaged goods industry that is headquartered in Conshohocken, Pennsylvania. Satori Group demonstrated how Snyders could implement its proCube software to gather better sales and selling data and, therefore, make better business decisions. ProCube would modify Snyders budgeting processes, creating accurate forecasting facilities, improving financial reporting techniques, and refining Snyders product marketing analysis so that Snyders could evaluate the viability of each of its individual brands and products. Such analytical power was just what Snyders would need to compete with Rold Gold, which is backed by the embodied powerhouses of Frito-Lay and PepsiCo. What Snyders found so good-hearted about proCube was the ease with which it could be integrated wit h the companys existing information systems.ProCube enables Snyders department heads to continue using Microsoft Excel spreadsheets to collect sales and returns data. These data are collected in a large data repository, where they are consolidated and organized before being used by proCube reporting software for analysis. The proCube software also uses manufacturing data from Snyders enterprise system. Snyders financial department now spends a couple of days preparing those same monthly, quarterly, and yearly statements that used to devour weeks worth of productivity. This is only the graduation exercise step in what Snyders hopes is a chain of improvements that will result in new growth. The side by side(p) step is to add new levels of detail to the profit and loss data that Snyders can collect and report so that the company can track and assess the profitability of individual products. Management could then use the proCube software to find out information such as how many bags of Honey BBQ Pretzel Pieces were sell in Michigan last week, or which stores and delivery routes are best servicing customers who like this product.The system will also enable managers to project sales for their unit for the future(a) quarter or next year. Such a system subscribes additional work to implement. Dave Thomas, Snyders director of information technology, noted that to chance on the desired level of detail in its data analysis, the company must study all of its business processes. A comprehensive review will enable Snyders to determine what types of data result from their business processes and which data they actually want to use. These system enhancements will eventually provide information enabling Snyders to increase production and distribution frequency of its most popular products almost immediately, rather than having to wait for an end-of-the-month report. Likewise, production and shipping of less popular products can be curbed. In other words, Snyders will be ab le change its business model from one dependent on forecasts to one thats more demand-driven.The first two points of the proCube implementation carried a price tag of approximately a quarter-million dollars. The next phase introduced a corporate penetration to provide Snyders department heads and executives with easier access to sales figures and distribution plans. The portal features a user-friendly Web interface through which managers can retrieve key data, as they require them. Upon completion, the cost of the entire venture should approach a half-million dollars. Snyders has also incorporated improved IT into other areas of its business. In 2003, Snyders chose Gelco Trade Management Groups TMS Passport solution for its tidy sum procession funds management.Again, Snyders found an IT solution that could be implemented quickly without sacrificing power. Gelcos TMS Passport promises a quick return on investment (ROI) for a competitively priced and scalable package. The package features fund management, subtraction management, payments, and analysis and reporting capabilities. In turn, Snyders is confident that it can effectively plan and manage its trade promotion activities for years to come, even as the business continues to expand.The American consumer has continued to increase its intake of pretzels over the last decade, and the snack food industry as a whole continues to boom. Snyders faces stiff ambition from rival Frito-Lay and other major players in the snack food industry such as Utz, Kelloggs, and kraft paper Foods. At the very least, Snyders has made a sincere attempt to transform its business practices with an midriff toward rocketing to the top of the boom. The question remains whether a family-owned organization can continue to compete with major corporate players in an industry that has yet to hit its ceiling.