CHAPTER 2 Review of Related Literature A

CHAPTER 2 Review of Related Literature and Studies This chapter includes the ideas, fnished thesis, generalizaon generalizaon or conclusions, methodologies and others. Those that were included in thus chapter helps in amiliarizing inormaon that are relevant and similar to the present study 2.1.1 2.1.1

Forei Foreign gn Rela Related ted Liter Literat atur ure e

Sales & Inventor !onitoring Sste"s # Audra $ian%a 'e"and !edia Data Collecon for Decision-Making Decision- Making Using this type o system, system, a company company makes strategic strategic business decisions regarding raw material purchases, producon scheduling, pricing, logiscs and other decisions in the supply chain. Sales and inventory data enables the company to increase or decrease producon in the actory so the company wont have too many fnished goods stored in its warehouses. Funcon ! sales and inventory monitoring system collects data to aid in producon scheduling. "or e#ample, e#ample, some systems systems use recent sales data to orecast orecast how many o a type o product will be needed to meet consumer demand in the near uture. This includes monitoring the levels o a product at all locaon l ocaons. s. ! good e#ample is a global company with customers customers all over the world. The customer may live in $apan, but the system must see i the warehouse in %anada has a product available to ship to $apan. How it Works The system compares current inventory levels o a product and the number scheduled or produ produc con on with with the number number needed needed,, and determi determines nes i the level level o prod produc ucon on must must be changed. changed. & necessary necessary,, the syste system m sends sends a message message to the master master produc producon on schedule schedule to increase producon. !lso, the inventory monitoring system slows down producon when a products retail sales levels dont meet the sales orecast and the company overproduces the product. Compeve Advantage !utomated !utomated sales and inventory monitoring gives a company company a compeve compeve advantage by linking di'erent automated processes within the supply chain. "or e#ample, automang the ordering process or customers and the producon scheduling, then ad(usng manuacturing based on up)to)date inventory levels, makes a company more *e#ible, capable o deciding how to best sasy customer orders. +hen automated acvies are linked )) ensuring inormaon *ows rapidly rom one part o the supply chain to another )) a company can e#ploit these linkages.

anagement can make rapid decisions to increase revenues, such as ramping up producon immediately in one locaon because o a sudden surge in demand in another part o the world. SALES !()IT(RI)* S+STE! $ Cel,on !o#iles %elkon is one o leading manuacturing companies in &ndia. +e have pioneered mobile phone soluons and wireless technologies in &ndia. %elkon caters to the increasing smart needs o  mobile users across the world. -ur orte lies in providing innovave mobile technology to every customer. !t %elkon, we believe every user needs an e#perience more personalized than ever. +e are dedicated towards manuacturing customized user riendly phones. -ur value added eatures ensure the personality o the phone matches the taste o the user. The wide range o products available at %elkon ensures that there is a phone or every pocket. very %elkon product undergoes stringent /uality tests at every stage o producon. -ur main ocus is to e#cel and provide the user with best designs paired with unmatched technology. !onitoring Sales for A%%ounta#ilit $ Sales Creator Measuring Sales Performance ost companies have the problem o measuring the perormance o their sales sta' because each salesperson is di'erent and they work in varied methods. 0ecause a sale involves customers, there are other actors impacng sales, as well. %ustomers and their needs are di'erent, business condions vary, individual customer bases di'er and the product mi# o'ered to each customer can vary. +hat are the important components to track to determine sales success1 The actors can be tangible and intangible. +hen e#amining the tangible side o the sales ledger you need to consider methods or targeng, re/uency o contact, message and presentaon, and communicaons. Some intangible actors that can be di2cult to /uany are the salespersons ability to build relaonships and 3connect3 with customers, and whether or not there is a clear purpose o the call or meeng. The reason or contact can be to help the customer, or somemes it is to help the salespersons /uota.

'ecve results rom measuring the perormance o each salesperson should have a purpose4 to help them be more proftable to your company. +hen this occurs they have more worth through addional pay and incenves, and they receive a value, and that is a good eeling about doing a great (ob. There are three steps in bringing about the improvement o an employee when a problem is idenfed4 measuring, correcng with training, and planning to make the change permanent.

Measuring te Performance The ability to measure perormance depends on the use o success)based criteria as a model to compare daily, weekly and monthly numbers. 5ere are some o the criteria that Sales %reators uses when designing a monitoring system or their customers4

6. Time spent selling, me spent in administraon, me prospecng 7. 8umber o calls made on e#isng accounts 9. 8umber o calls made to new customers, and number o new customers :. ;romptness in submiolume o sales, number, size, product mi# and repeat account ?. !ccuracy in /uong prices and delivery inormaon with approved margins to customer @. ethod o call backs set up with the customer A. %ost o customer to company B. arkeng and promoonal me, specifc areas 6C. &mprovement areas where me is being invested on the part o the salesperson and managementD this includes topics such as behavior modifcaon, appearance, schooling and other personal issues easuring must start with standards that are compiled rom the averages o all employees who are doing the same task. Then review the progress or the last 67 months and determine how it compares to the budget compliance standards. & the perormance levels do not meet the basic standards set by the company, or i their perormance alls more than 6C percent rom last years numbers then it is me to move into a correcve step o acon. !raining and Process for Correcon This is a posive step or improvement and it starts with management reevaluang the sales and markeng systems. &s there a need to increase promoonal campaigns, change or add prospecng methods, establish ghter controls with price variances, or get input to problems rom the sales sta'1 anagements frst duty means me spent working on f#ing the systemsD then it is me to provide help or the salesperson. They should have daily direcon and support, be provided with proper coaching by role)playing on specifc areas o weakness ound in the measuring perormance secon. ake mentoring me available with best salesperson and the salesperson that needs help and have them observe and listen to their instructor. Eaily progress must be recognized and acknowledged unl the problem is resolved by noceable improvement in a given area. Planning for a Posive Cange -nce a problem has been ound, management must help get it corrected. -nce it has been corrected it is me to outline an agreement to reach the stated goals. ;lanning in its fnal orm should be in wring with the steps needed to reach the fnal desnaon. Then the me must be alloFed to put managements system changes into e'ect by introducing them to the employees at a meeng.

2.1.2

Lo%al Related Literature Inventor (rdering Sste" $ *lo#e $usiness P-iliines +ith (ust a ew keystrokes, track your supplies using GlobeHs &nventory -rdering System. The cost)e'ecve and highly innovave inventory management system gives you instant access to stock levels, allowing or mely orders and zero wastage. Get real)me reports +hat the inventory system does is allow you to order supplies based on the most current data. This minimizes overstocking and at the same me, rees up resources or more urgent needs. %ut through red tape The &nventory -rdering System gives you beFer control over your supply chain, a'ording you the convenience o being able to place orders online or via SS. !nd because the system automacally generates inventory and sales reports, your employees will have less paperwork to fle and more me to ocus on operaons. ;erect or businesses with ranchise operaons, this user)riendly inventory management system can be customized or any mul)site company, commissary, or warehouse backend ordering operaon. "eatures I 0enefts  Jegistraon odule  -rder anagement  &nventory anagement  Sales anagement  Jeports odule  Te#t 0roadcast (nline Sales !onitoring and Inventor Sste" /an 2011 The problem o the conducted research is about the companyHs sales monitoring and inventory system. Keeping records o sales and inventories manually are the current method used by the company. Eue to this current method o inventory system, the company has encountered several problems regarding the monitoring and stocks checking. K-8K.%- management once said, Lanual method is very hassle and me consuming process o inventory. &t has many drawbacks as there are many mistakes while recording large data and it disturb some important transacon somemesM.

Upon hearing this, the researchers developed a system which will help the management keep record o inventories in systemac way and help them produce report about the inventory or stock currently available in their store in automac way. Through this the hassle and commi