Enhanced Financial Management
Since implementing the JD Edwards platform, Sundan has unified its entire supply chain, from order management to distribution and supplier payment. Regular stock monitoring and daily communication with retail stores ensure there is enough inventories on hand to meet customer demand while maximizing capital utilization rates. More efficient stock and delivery management significantly reduced purchasing, inventory, and distribution costs at the company.
Enhanced Financial Management Tighter control over accounting processes has helped Sundan improve financial management at the company. For example, a centralized purchasing system is integrated with the supplier database, allowing accounting staff to track purchase orders against supplier invoices. This ensures vendors are appropriately compensated while avoiding double payment. Sales data from retail stores are delivered everyday so staff can review up-to-date financial data. This helps them determine cash flow and develop budget plans.
Operations management is about the way organizations produce goods and services. Everything you wear, eat, sit on, use, read or knock about on the sports field comes to you courtesy of the operations managers who organized its production. Operations management is important. It is concerned with creating the products and services upon which we all depend. And creating products and services is the very reason for any organisation’s existence, whether that organisation be large or small, manufacturing or service, for profit or not for profit.
There is evidence that organisations are spending increasing amounts of money on improving their operations. Operations management is the largest segment of the market. Effective operations management gives the potential to improve revenues and, at the same time, enables goods and services to be produced more efficiently. It is this combination of higher revenues and lower costs which is understandably important to any organisation.
Shenzhen Sundan Stock Co. Ltd certainly understands its market and how it can serve the needs of its customers. Furthermore, its products must be regarded by its customers as representing outstanding value for money. At least as important, however, is the way it organises the delivery of its services within its stores. This is the responsibility of the company’s operations management – the people who manage its store operations.