Phoenix Fine Electronics would like more information about their system options and your recommendation. They are interested in learning how the st
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, double-spaced.
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
2
3
Executive Summary:
Systems Recommendation to PFE C-level Management
Executive Summary
Phoenix Fine Electronics faces many technological challenges that it must overcome to gain a competitive edge. The business requires systems that will enable c-level managers to make intelligent business decisions to achieve the ambitious goals for the company. As the business acquires new stores in its expansion strategy, the company must take advantage of the enormous customer data generated to identify new opportunities and use it to enhance customer experience (Aggarwal, 2021). This project aims to develop recommendations on how the company can leverage technology systems such as "decision support systems, customer relationship management systems, and enterprise resource planning systems to improve information gathering and reporting to its business operations" (Aggarwal, 2021). The features of each of these systems will be analyzed to determine how they will help achieve the desired outcomes.
For instance, business intelligence systems will provide accurate reporting of sales, improve data quality, enhance operational efficiency and increase the business's competitive advantage. ERP systems will enable c-level managers to make data-driven decisions, improve order processing, and replace outdated legacy systems and no longer serve the business needs by streamlining systems across all company's stores and future acquisitions (Aggarwal, 2021). In addition, the ERP solution will provide better customer service and improved on-time delivery of our products. Further, ERP systems will enhance the company's inventory management and incorporate the payroll functionality all in one place (Aggarwal, 2021). This, in turn, will increase transparency throughout business processes and automate repetitive tasks, thus improving workflow efficiency and employee productivity. Finally, the ERP system will be hosted on the cloud with redundant servers to back up data for disaster recovery processes. Cloud storage is the most secure, cost-effective, and scalable, and it is easy to deploy and automates software updates.
System comparison
|
ERP |
CRM |
BI/DSS |
|
|
Systems Elements |
The system comprises the following elements; human resources, supply chain management, finance, customer relationship management, inventory management, and business intelligence functionalities (Aggarwal, 2021). |
The customer relationship system will be composed of the following elements; business reporting, human resource management, workflow automation, and analytics. |
A business intelligence system comprises; a data warehouse, business analytics functionality, and business performance management |
|
Support management |
ERP will make it easier to track; customer purchase preferences, leads, and conversations with customers with its CRM functionality (Aggarwal, 2021). |
CRM will support c-level managers by helping them to keep track of potential customers and forecasting sales (Alt et al., 2020). Moreover, it will enable human resource managers to match job profiles according to the intellectual capability of employees (Alt et al., 2020). |
Business intelligence provides management with business analysis reports, helps the managers improve financial management, and provides analytics tools to get new insights. |
|
The partnership between IT and Business |
The system will automate most core business functions and provide more significant insights into the supply chain. |
The system will provide the data required to improve customer experience. |
A business intelligence system will provide managers will a user-friendly interface to identify new trends (Eriksson, 2021). |
References
Aggarwal, I., Anirudh, A., & Buddala, R. (2021). Literature Review: ERP Implementation in Various Industries. 2021 Innovations in Power and Advanced Computing Technologies (i-PACT), 1-6. https://ieeexplore.ieee.org/abstract/document/9696962/
Alt, R., & Reinhold, O. (2020). Social CRM: Tools and Functionalities. In Social Customer Relationship Management (pp. 57-80). Springer, Cham. https://link.springer.com/chapter/10.1007/978-3-030-23343-3_3
Eriksson, M., & Ferwerda, B. (2021). Towards a user experience framework for business intelligence. Journal of Computer Information Systems, 61(5), 428-437. https://www.tandfonline.com/doi/abs/10.1080/08874417.2019.1693936
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Learn: Course Scenario: Phoenix Fine Electronics
Read the following scenario, and refer to it when you complete the weekly assignments:
· Wk 1: Business vs. IT Strategy Presentation
· Wk 2: System Recommendation
· Wk 3: Measurable Values
· Wk 4: Strategic Sourcing Plan
· Wk 5: SWOT Analysis
· Wk 6: ROI Calculation and Business Case
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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