Udo, Marian, & Uduak Corporation (UMUC) Case Study UMUC is a medium-sized electronics company. For the last two decades, UMUC has provided key precision components to various institutions, including pharmacies, doctors’ offices and hospitals. The organization recently began manufacturing and delivering custom range voltage monitors with the goal of shifting the outlook of the company towards an environmentally friendly outlook. The company has recorded a steady increase in the consumer requests that demand an ‘extended’ manufacturing service. The current system is inadequate for the task and it is likely to be rendered obsolete by advancements in technology (Maryland University College, 2009). This paper shall examine the current billing and payment system and provide …show more content…
It is an in-house program based on Microsoft Access manages the customers’ payments and billings. Regular software updates are done by the Invoicing and Accounts Receivables departments. The Sales Department collaborates with the Invoicing Departments to add new accounts, update the present accounts and close some existing accounts. The ordering and shipping department sends monthly reports to Invoicing Departments for the ordering and shipping of products and the entry of their codes into the invoicing module. It is also the responsibility of the Invoicing Department to add, update and maintain the product codes and the purchase pricing that is used by the Invoicing database on the 15th every month. All updates are sent to the Marketing department on a monthly basis. The Invoicing Department then prepares the customers’ bills and sends them to the customers on the last day of every month. Invoicing Department also determines the identification of the accounts that are one and two months overdue, The accounts that are overdue had a 2 percent more added to their
They offer a variety of accounting software to growing companies. Armanino focus on changing QuickBooks, MAS, Peachtree, and other software to Intacct, which gives access to real-time financial and non-financial data, simplifies and minimizes order processing times, financial consolidations, close processes, and more. These changes in technology contribute to the growth of their clients because they are getting the best resources. Also, Armanino provides innovation according to the company’s industry, so they can succeed in whereever they
customer days after the due date. This is happening because there is an increase in truck
The billing process is important because is crucial in maintaining the financial stability, the hospital must have an efficient process for obtaining reimbursement from patients and third-party payers. Alongside the billing process Accounts Receivable (A/R) Management is responsible for monitor outstanding accounts from patients the government, and other payers to ensure that payments are received in a timely manner.
Accuracy: All Purchases are authorized at the appropriate level. All invoices prices and quantities are compared with purchase orders and receiving reports. Journal entries are review at the appropriate level. All the Financial statements are review and approved by the senior level.
In order for the SAP system to be used effectively at Novartis, they must first re-design the invoice process to better integrate with the software. Currently, the process is inefficient and is thus resulting in a backlog of overdue bills. By focusing on business processes first, Novartis can eliminate this concern, ensuring the system automatically makes payments before they are due.
The company has self organizing team and use groupware, emails and blogs to communicate with the customers.
The Darby Company is re-evaluating its current production and distribution system in order to determine whether it is cost-effective or if a different approach should be considered. The company produces meters that measure the consumption of electrical power. Currently, they produce these meters are two locations – El Paso, Texas and San Bernardino, California. The San Bernardino plant is newer, and therefore the technology is more effective, meaning that their cost per unit is $10.00, while the El Paso plant produces at $10.50. However, the El Paso plant has a higher capacity at 30,000 to San Bernardino’s 20,000. Once manufactured, the meters are sent to one of three distribution centers – Ft. Worth, Texas, Santa Fe, New Mexico and Las Vegas. Due to the proximity of El Paso to Ft. Worth, they are only plant to ship to Ft. Worth. The costs associated with each shipment are described in detail in Appendix 2.2A. From these distribution centers, meters are shipped to one of nine customer zones. The Ft. Worth center services Dallas, San Antonio, Wichita and Kansas City, the Santa Fe center services Denver, Salt Lake City, and Phoenix, and the Las Vegas center ships to Los Angeles and San Diego.
QuickBooks is an accounting software package which is developed by Intuit, Inc. It was launched in the 90's and since than it is one of the market leaders in accounting software. The software was designed to help the small business owners who had no formal accounting training. Very shortly after the introduction, there was no doubt that the product is going to be a hit. With a deep focus for the non-accountant, and a lower price than the competitor's products, it outsmarted its competitions. Intuit states that the company's mission is to create new ways to manage personal finances and small businesses that are so profound and simple, customers cannot i...
Setup early warning system to inform customer about a potential stock out and supplier about a delayed order from CMO. This will help in reducing stock out situations.
Finally, we provide some insights of the industry and study in detail how the current trends can be reversed or strengthened by reduction in costs and adapting the cutting edge-technology to a better customer experience.
Arrow Electronics is a distributor of electronic parts, including semiconductors and passive components. It was founded in 1935 and has reached number one position among electronics distributors by 1992. Arrow’s North American operations were headquartered in Melville, N.Y. Sales and marketing functions were divided among five operating groups. This case study focuses on the largest of Arrow’s groups, Arrow/Schweber (A/S).
O’Reilly Auto Parts utilizes replenishment software to achieve this goal. The economic downturn, resulted in negative effects for Cisco Systems and Black & Decker. However, at O’Reilly’s, the economic downturn provided an increase in business. Obviously, when the economy is in a nosedive consumers and businesses will severely limit what they choose to purchase. Therefore, instead of spending money on technology or home improvement supplies, consumers purchased auto parts to repair their old vehicles. Consequently, O’Reilly’s goal was to increase customer support and replenish inventory on a nightly basis. However, to accomplish this, the company uses software from Manhattan Associates Inc to collect data every half-hour, and, send updates every night to its distribution centers. Thus, the company could immediately fulfill request, while freeing up over $50 million by reducing its inventory levels (O 'Brien, & Marakas,
Unilab is committed to helping you provide quality patient care by offering customized laboratory service characterized by quick turnaround time and a high level of customer service.
and is especially popular among eBay customers. Fig.1 briefly illustrates Company’s business. The system enables its
E-commerce application is a platform where there is buying and selling of products and services which are done by businesses and consumers via an electronic medium, mostly without using any paper documents. “E-Commerce applications support transactions between businesses and their customers. They provide 24/7 customer support, allowing customers to order products, check orders and track shipping, review previous orders, reorder products, and manage their accounts.” (Auburn SeeWolf llc , 2009-2012)