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 the attached Phoenix Fine Electronics document by adding the following:
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, double-spaced.
Use the information from your executive summary and add the following information:
Running Head: IT BUSINESS 1
IT BUSINESS 5
IT Business Partnership
PFE should build a tactical sourcing team with members with a suitable level of involvement with different regions. A team of this size would incorporate sales, finance, designing, promotion, and inventory network. PFE ought to focus on their task and foster conjecture for planning IT operations; subsequently, this is an effort to unite the organization and begin thinking strategically. PFE requirements to foster a long-term focus (three to five years) that incorporates information management and assessment, with a capacity to focus on information and spotlight the correct classifications while developing suppliers as essential accomplices.
PFE's system should be founded on different classifications, including a perspective on expenses and costs and ensuring providers are set up, while fostering a relationship with their various partners. Furthermore, PFE needs to set up specific times for collaboration among all entities within the organization to guarantee everybody is in total agreement. It is additionally essential that PFE has a cross-functional team so every office knows about every upcoming change or execution. This will assist later on during the actual implementation because everybody from inside the different offices knows about any upcoming performance and settles on the attainability.
Note Figure 1 displays how DSS, ERP and CRM help organization in their operations From: Lytras & Naeve. (2017). Knowledge management strategies: A handbook of applied technologies: A handbook of applied technologies. IGI Global.
Dargam & Zaraté. (2018). Proceedings of the EWG-DSS Liverpool-2012 workshop: Decision support systems & operations management trends and solutions in industries. EWG-DSS.
Once they adopt a strategic sourcing plan, the organization needs to embed appropriate approaches and systems that will assist with guaranteeing leadership is adopted. They are aware of the critical perspectives, such as imagining cost examination and management rules, provider choice and agreement discussion, and supplier selection and performance management viewpoints. Under these conditions, PFE needs to distinguish key partners while working intimately with operations, selecting and holding ability, and using change and venture management.
PFE needs to focus on its predictable business cycle plan with its ongoing frameworks. If PFE's continuous frameworks don't give what is required, then a market assessment is essential; solution coverage, authoritative need, and provider types like usefulness, specialized benefits, general business upgrades, and evaluating requirements. Nonetheless, during the execution cycle through PFE's ERP framework, it might be essential to utilize electronic sourcing tools, such as purchase order, e-RFX, EDI, and reverse auction, to show exact information on how cash is spent (Seshadri, 2018). Here, it is crucial to recognize the traditional design, distinguish its significance, and assess the use of risk management tools. It is vital to the goal that the organization doesn't get into a situation it doesn't need.
Through risk assessment, PFE looks at its attributes such as accessibility of supply, cost, product, and application. It looks at market attributes, for example, global sourcing, capacity limit, number of qualified providers, economic situation, and valuing vulnerability. While additionally venturing into provider attributes such as capacity constraints, failure to reduce cost, inconsistent data framework, quality issues, eccentric process durations, volume, blended necessity change, stock administration, monetary well-being, threats, and legal liabilities (Keith & Kling 2019). Then these risks are placed into classes, strategic, and leveraged. Based on the classifications, methodologies are created on what is the right move to initiate. Finally, a rollout plan with tasks, achievements, resource necessities, and persona responsible is contrived.
Keith & Kling. (2019). Strategic sourcing in the new economy: Harnessing the potential of sourcing business models for modern procurement. Palgrave Macmillan.
Lehavi, D. (2017). Business partnership essentials: A step-by-step action plan for succeeding in business with a partner (2nd ed.). de Gruyter.
Seshadri, S. (2018). Sourcing strategy: Principles, policy, and designs. Springer Science & Business Media.
Phoenix Fine Electronics (PFE) is a medium or mid-sized company but which is growing rapidly each year selling technology products to retail consumers. The company has an annual revenue of $15 million in sales. PFE started with one store, but has grown to 25 stores and has expanded into a second state.
PFE has one store in a town with a population of 100,000 and three stores in towns with populations exceeding 200,000. The goal of the company is to continue expansion into an additional 3 neighboring states within the next 5 years. PFE wants to utilize the same population numbers to determine the number of stores it should open. It would also like a marketing firm to do an analysis of each town that meets the population criteria in order to determine the best cities in which to open new stores.
Each store employs a store manager and an IT manager, who both directly report to the Chief Executive Officer (CEO).
The current IT plan for each store is to utilize technology to support the store; increase sales; track inventory; secure store customer data; perform payroll; and report all sales, inventory, and payroll data to the main office. The IT manager is responsible for managing the IT systems, making decisions on what technology and software are needed, and implementing the systems while ensuring accurate reporting to the main office. The store manager is responsible for all staffing, inventory, and sales functions within the store.
With the expansion and acquisition of smaller independent stores, the CEO is worried about how department and customer data can be aggregated to allow the company to make better, timely business decisions. Even with such a wide footprint, the company must ensure unique, outstanding customer service and provide value to the consumer base. The CEO lacks IT experience and has been hesitant to adopt the suggestions of the store and IT managers, which is to give the company an online presence and advance it into national competition with other consumer electronics stores.
The CEO hired a Chief Financial Officer (CFO) and Chief Information Officer/Chief Technology Officer (CIO/CTO). The CFO will oversee the company finances for the expansion. The CIO/CTO will oversee the consolidation of the disparate systems and technologies that exist between the stores, streamline the information gathering and reporting to the main office, and develop an online presence that will catapult the company into a competitive position on a national level.
Your job is to help the new CIO/CTO move PFE toward the future.
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