23 Sep Phoenix Fine Electronics would like more information about their system options and your recommendation. They are interested in learning how the strengths of the system can be turned into me
Phoenix Fine Electronics would like more information about their system options and your recommendation. They are interested in learning how the strengths of the system can be turned into measurable values for the business upon implementation.
Modify the chart from your Wk 2 assignment by adding the following:
- The strengths and weaknesses of each system
- The impact of the strength and weakness
Cite at least 2 sources in the additional columns in your chart.
Write a business case for your recommendation. This business case will be revisited in Wk 6. As a guideline, this section of the business case should be approximately 3 to 4 pages in length.
Use the information from your executive summary and add the following information:
- At least 3 measurable organizational values the new system will bring
- The benefits of the value to the business
- How these values will differentiate the business to customers
- The risks of doing the project
- The risks of not doing the project
- The modified comparison chart (from above)
- References
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CMGT/583 HM WK 2
Phoenix Fine Electronics hopes to grow its business by opening new locations and diversifying its business online in the future. The business has been expanding at a higher rate each year. PFE now has twenty-five locations spread over two states, with sales of $15 million yearly. Over the next five years, the group wants to grow by adding offices in three neighboring states while developing an online presence. As they expand, the company will need to incorporate technology in their operations both at the new and existing shops.
Business needs and desired outcomes
The main goals of PFE are to expand the company's revenue, market share, profitability, and consumer base. The company must use technology that supports each shop, boost sales, keeps inventory track, and protects customer data. How each department's client data from the various locations will be combined to allow the company to make better, quicker business choices while ensuring distinctly superior customer service and giving value to its clientele is a major challenge. Currently, each store is staffed by a Store Manager and an IT Manager who answer to the CEO. PFE requires a system to help the store manager with staffing, inventory management, and sales. The new system must also enable the IT Manager to oversee improved IT systems, make better-informed choices about required hardware and software, and execute the systems while ensuring that correct reports are sent to headquarters. The new system must also allow the CFO to manage the organization's finances to support growth. Additionally, it must make it possible for the CIO to oversee the integration of various technologies and systems already in use throughout the firm. The CIO must also be able to simplify obtained data and communicate it to the home office using the new technology. The CIO also needs technology to let him create a web presence that gives the company a competitive edge on a national scale.
Comparison chart
|
Comparing systems |
Definition |
Elements of the system |
Support Management |
Partnerships between business and IT |
|
ERP |
An ERP uses a central database that compiles inputs from all departments to automate business activities and provide insights and internal controls. |
ERP system's components include customer relationships, human resources, supply chain management, business intelligence, and financial management (Bjelland & Haddara, 2018). |
ERP will assist in reducing operating expenses, increasing efficiency, and reducing both management and operational costs. |
ERP will meet the system's capabilities and unmet requirements. Additionally, it will aid in the phase-out of the previous system. |
|
CRM |
CRM is a technology that controls all communications and interactions between a business and its clients and prospective clients. The objective is to strengthen business ties in order to support corporate expansion. |
CRM elements include HR administration, marketing, customer service, and business reporting. |
CRM will give managers a comprehensive understanding of the customer relationship, allowing real-time answers and boosting sales efficiency. |
The IT department will support the data, along with consumer touchpoints and apps (Osnes et al., 2018). The corporation will be able to strengthen its bonds with its clients and boost sales by continuing to maintain these systems. |
|
BI/DSS |
BI/DSS helps a company carry out an analysis of both historical and up-to-date data. |
BI/DSS elements include corporate performance, online analytical processing, real-time intelligence, and data sources. |
The BI/DSS helps in the effective and impactful use of data. Additionally, it facilitates the use of BI and keeps organizations in charge of the data to remain competitive. |
Together, the CIO and CFO design a governance program. Governance software will also solely evaluate the pertinent data. |
System recommendation
The recommendation is to integrate CRM and ERP into the new system. They will function as a cohesive team and jointly assist in regulating visibility. The ERP helps centralize all business processes, including workflow, scheduling, and order processing (Weking et al., 2020). The CRM will combine customer information with order history, which is beneficial for upcoming marketing initiatives. Together, the two will provide a comprehensive view of the customer, boost productivity, eliminate unnecessary data duplication, enable employee teamwork, and boost sales.
scope of the project
In this project, the CIO and the CFO will collaborate closely to ensure everything runs efficiently. To maintain the interest of their new customers, the CIO will need to do a better job of analyzing the types of items the customers are interested in. The CIO will need to ensure they can handle any situation the customer may have with the products. If the CIO cannot handle the situation or does not have the answers for the customer, the customer may look elsewhere for a similar product with a company that can respond to their questions. Finally, the CFO must ensure that the business has the funds to replace its outdated goods.
References
Bjelland, E., & Haddara, M. (2018). Evolution of ERP systems in the cloud: A study on system updates. Systems, 6(2), 22.
Osnes, K. B., Olsen, J. R., Vassilakopoulou, P., & Hustad, E. (2018). ERP systems in multinational enterprises: a literature review of post-implementation challenges. Procedia computer science, 138, 541-548.
Weking, J., Mandalenakis, M., Hein, A., Hermes, S., Böhm, M., & Krcmar, H. (2020). The impact of blockchain technology on business models–a taxonomy and archetypal patterns. Electronic Markets, 30(2), 285-305.
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