1 Assessment of outsourcing criteria Vorlesungsvortrag ITTM, Outsourcing, WS INTRODUCTION 2 2 FINDING OF CRITERIA People involved Methods 3 3 OUTSOURCING BARRIERS Technical criteria Legal criteria Strategic criteria Suitable enterprises 5 4 COST CRITERIA Costs Prologue: Fixed and variable costs Saved Costs in the company Costs for the provided product Additional costs Graph Assessment of costs Prologue: Direct and overhead costs: Calculation Scheme Dynamic investment invoice 11 5 QUALITATIVE CRITERIA Criteria Liquidity Tax Control Transparency Flexibility Organisation Know how Method of valuation (example) Point value table 13 6 ASSESSMENT OF OUTSOURCING CRITERIA Empirical view Pro outsourcing Against outsourcing Decision-making Strategy Assessment process 15 7 SUMMARY 17
2 Assessment of outsourcing criteria Seite 2 von 17 1 Introduction In this presentation, the most important criteria for an outsourcing-decision will be explained, followed by methods for assessment. We will show, that there are different kinds of criteria, which have to be dealt with differently. The list of criteria mentioned in this presentation should be seen as examples, that have to be further developed in an outsourcing process. For terms: In this presentation we will use the word outsourcing company for the company that is outsourcing, and servicing company for the company, that is providing the outsourcing company with the product. The literature and sources used for this presentation: Mueller, Outsourcing Management, Bund 1997 Macha, Grundlagen der Kosten und Leistungsrechnung, Campus 1999 Nagengast, Outsourcing von Dienstleistungen industrielle Unternehmen, Dr. Kovac 1997 Studie des Europaeischen Forschungszentrum fuer Einkauf und Logistik, Wien, Outsourcing Sourcing Agencies, Internet 2003, Tempobrain AG, Kosten sparen mit Inhouse Consulting, Internet 2002 Smalla, Vertikale Integration oder Outsourcing Meldearbeit, Internet 1998
3 Assessment of outsourcing criteria Seite 3 von 17 2 Finding of criteria Criteria for an outsourcing decision have to be found and assessed by people involved in or with the results of an outsourcing process. This chapter will describe by whom and how the criteria could be set. 2.1 People involved With respect to the outsourcing-process, there are four main stakeholders in the company. The internal customer as receiver of the product (or anybody else, responsible for the quality of the product); the subjected department that is outsourced (being the control authority of the outsourcing process; maybe people who are likely to lose their job afterward should be excluded); Personnel department as a responsible place for possible staff measures; Works committee, dto.; at least one member of the general board, depending on the importance of the decision. 2.2 Methods There are different Methodologies for the finding of criteria. The first is likely to be a kind of brainstorming, followed by comprehensible quantitative methods of valuation. Some possible valuation methods will be described later in the text.
4 Assessment of outsourcing criteria Seite 4 von 17 3 Outsourcing barriers In these chapter, criteria will, be described, which should be positively fulfilled. Otherwise an outsourcing is impossible in practice. 3.1 Technical criteria Technical criteria are related to the process itself. Of course there is always a possibility to make an outsourcing, however complicated the situation is going to be. But here an economic view has be in mind. The process to be outsourced should to be in an more ore less isolated field, the process should be relatively closed. If not, the defining and controlling of interfaces could take to much effort. The know how within the company with respect to the outsourcing products should be sufficient to control the process and to reintegrate the product into the company processes. 3.2 Legal criteria Legal criteria are often given from outside and without influence of the company. Especially rules for human rights and safety are provided and controlled by government and can hinder an outsourcing-decision. Secrecy regulations set by the governmental law (personal data, client or banking secret) or company policy (R&D data) must be fulfilled all the time. If not, outsourcing can do massive harm with respect to damage compensation or company know-how. Safety regulations, esp. medicine, food, environmental protection must be fulfilled also. In this case, the government will also at least observe the outsourcing process.
5 Assessment of outsourcing criteria Seite 5 von Strategic criteria A business-strategy should be developed by the company. Only if the strategy is clear, strengths and targets can be found and decisions made. Core competencies (competencies, in that the company is able to compete on the market or even has a kind of leadership) must not be outsourced. Core Competencies can be found out by benchmarking techniques (comparing of key figures like productivity). For future development the processes in growing markets should be developed on site. 3.4 Suitable enterprises Of course outsourcing only can take place if there are suitable companies existing on the market. They not only have to be able, but willing to take the processes.
6 Assessment of outsourcing criteria Seite 6 von 17 4 Cost criteria Costs and cost assessment are the main factors for an outsourcing-decision. This chapter will give examples of costs and an outsourcing-valuation method. Of course these depend heavily on the quality of accounting methods and the availability of cost-figures in the Company. 4.1 Costs The easiest way for finding costs is to have a look in the profit and loss tableau of the company. Many of them can be find here. Accounting/Controlling is also an good address, even when internal calculation figures are available. The following arrangement first mentions the company costs, that might be reduced after an outsourcing, after this the costs for the servicing company and also additional costs, that have to be taken into account Prologue: Fixed and variable costs Variable costs are costs which increase or fall with the production. Fixed costs are independent of this. Fix- and variable costs can change their character with the time period looked at (e.g. personnel: fixed in a quarter year period (employees cant be thrown out easily, at least not in Germany), variable in a five years period (figures can be changed by not replacing leaving persons) Saved Costs in the company Again, these costs may, however, must not get effective (in some cases they will even rise!). Only costs with a maybe fixed, maybe variable character will be discussed Material (current assets) Example: Raw materials, tools (variable) The most variable costs of all. Be aware of the material on stock (may be sold to the servicing company).
7 Assessment of outsourcing criteria Seite 7 von Running costs Example: water, current, pressure air (variable) As above. But they may be related to provisions (pressure air system) Workforce Example: Blue collar workers, master (?) As mentioned it depends on the time schedule. In a short outsourcing process it may be complicated to get rid of the workforce, there may be even additional costs Overhead Example: Management, purchase, staff, quality, logistics, IE (normally fixed) Even it would be logical to reduce heads in overhead after an outsourcing, it is very difficult in practice. To much Know How would leave the company and because many of overhead staff is specialised, vital functions are not longer provided in-house. And for the management...(ever Know someone that killed his own job? ) These costs can be a severe danger for an outsourcing process. A solution can be found in a management buy out situation, where the overhead is part of the outsource Provisions Depending on assets (fixed) Depends on how is dealt with the property. If the building, machinery etc. can be sold, they are gone. Otherwise the provisions stay. Example: Building (property) Easy to calculate if the building is rented and if there is the possibility to cancel the contract. Then these costs will go zero. A problem may occur if the contract has a duration longer than the building will be needed (and there is no other purpose for the object), then the contract has to be cancelled by paying a compensation. Otherwise rental costs stay how they are. If the building is own property, then it has to be sold or rented to a third party (if possible). Provisions may further occur. Example: production machines (property)
8 Assessment of outsourcing criteria Seite 8 von 17 Also depending on what is done. Can be sold to the servicing Company. Otherwise there will be a one time loss Capital Interests for short and long term credits (?) Normally Credits are not related to the investment (Beware if not: e.g. governmental credits). So the money can be used elsewhere. Short term credits can normally easily changed. Credits are used for assets and current assets, both may be reduced (look above) Costs for the provided product Product costs The cost of the product provided by the servicing company. Normally variable, but may be fixed by contract Costs for Logistics Costs for the delivery to and back from the servicing company Additional costs Transaction costs Transaction costs inherit the afford for a divided organisation. The include for example costs for the initiation (search for a servicing company), agreement (especially costs for lawyers), control (quality and delivery control) and customisation (fitting different processes and products in two companies). Transaction costs will rise with the uncertainty and complexity of a project, also with the specifics and frequency of change with respect to the product Risk-management costs These costs summarise One time effects (e.g. costs for extra stock, costs for quality or delivering problems in the first time etc. Also the costs to provide the company with a Plan B can occur.
9 Assessment of outsourcing criteria Seite 9 von Graph before Outsourcing after Outsourcing Production cost: Overhead, Personnel Infrastructure Material... One time effects Profit Transaction costs N bl Fi d Product cost 4.2 Assessment of costs The quality of the assessment is directly related to the quality of the cost accounting in the company. Often costs are only estimated by management, which can be right due to the experience and afford avoided, that normally is necessary for a correct calculation. The more vital the outsourcing for the company will be, the less should costs be estimated during decision Prologue: Direct and overhead costs: Direct costs are directly caused by somebody or something (direct relation), overhead costs are costs that appear in connection with direct costs, but are distributed by keys (sales volume, value of materials, pieces etc.) E.g. Material costs for the production not only inherit costs of the supplier, but also costs for the stock-workforce, interests for the stock, warehouse...
10 Assessment of outsourcing criteria Seite 10 von Calculation Scheme This is a possible calculation scheme for a cost related outsourcing decision. Here additionally opportunity costs are taken into account costs that appear by NOT doing something (e.g. a trade not made: the lost profit is an opportunity cost). Make or buy? Material Indirect material costs Production personnel costs Costs of machinery Production overhead costs Special direct costs Production R&D Administration overhead costs Sales overhead costs Special direct costs Sale Production overhead costs Cost of production Sum variable costs reduction of fix costs It follows an obtaining calculation according to unit price (invoice) + Allocation amounts (packaging, loading, weighing, fees) + freight-, transport- and storage c - Discount and Compensation + Storage and Quality Assurance Prices expected by partner for product Result Savings due to outsourcing: Additional costs due to outsourcing: Opportunity costs Compare to: Safed costs in the company Compare to: Costs for the product Compare to: Additional Costs
11 Assessment of outsourcing criteria Seite 11 von Dynamic investment invoice If the outsourcing process takes a long time to amortise, a simple cost/savings-calculation is insufficient. Outsourcing then should be understood as an independent investment decision. In this case methods like the dynamic profit/loss calculations should be used. Here the costs and savings are discounted to the actual date (this is to take future interests into account).
12 Assessment of outsourcing criteria Seite 12 von 17 5 Qualitative criteria In this chapter some important of these criteria are shown, and in addition a method for assessment. 5.1 Criteria Cost criteria often are giving the impulse for an outsourcing decision. However, as important are qualitative criteria (compare to Outsourcing barriers) Liquidity This is perfectly performed by big automotive companies. Before outsourcing, they had to buy material, put it on stock (capital costs!) getting their money back when the car was paid. This often was a three-month delay, that had to be financed by banks. Today the suppliers have to buy the products, and are often paid with a three month delay. So the pre-financing and interests are the problem of the suppliers, their invoices are stated when the cars are paid. No liquidity problem at all for the Big companies Tax Control Outsourcing to another company within the same concern or group is a very interesting part of the taxation law. The prices paid between companies in the same concern but in different tax areas are often political prices to make sure that a minimum amount of tax is paid Transparency It is easier to do expense budgeting with external costs than with internal costs (due to the simplified cost accounting compare overhead costs). Staff is more likely to be cost conscious, if it could be given reliable cost figures.
13 Assessment of outsourcing criteria Seite 13 von Flexibility In case there are many suppliers available, capacity, time and place can be easily adapted to the needing of the company. But often there will be specialised suppliers, which are bound by contract in order to assure a continuos product flow Organisation It is expected, that servicing companies due to their specialisation have better reaction times. However, there are also more interfaces to be handled, so it depends on the very case. The company stuff is relieved of responsibilities other than belonging to the core process Know how Outsourcing often means an access to Know How not available in the company (IT is the most important business line). Smaller and medium sized companies have no recourses outside their core competencies, so tax, accounting, IT or law are given to external specialists. As for knowhow outsourcing can give access to specialised technology or technique. If the company is aware of know-how needed, there is also an insuring process possible. (think tanks of big companies) 5.2 Method of valuation (example) The big problem with respect to qualitative criteria is a fair method of valuation, so that the decision process can be understood afterwards. Due to the lack of figures (of course, the criteria is quantitative) there is no ranking possible at first hand. We will show a method, that tries to quantify the decision Point value table This method tries at first hand to give a weight to the criteria. The weight depends on the strategy of the company and of course a technical department will have other interests than sales. But an agreement within the decision party is the perquisite factor for the method. (Therefor a Member of the General board should be member of the party.)
14 Assessment of outsourcing criteria Seite 14 von 17 Feature weight Version 1 Version 2 Result 1 Result 2 Points Points Weighted Weighted Tax 35% 2 5 0,7 1,75 Flexibility 20% 3 2 0,6 0,4 Transparency 5% 5 1 0,25 0, Sum 100% 1,55 2,2 Following this weighting, the alternative Versions are evaluated by giving them numbers in a certain range (e.g. 1 = non fulfilled, 6 = extra fulfilled). After multiplying the weight and the evaluation number, we get the weighted evaluation. By adding these figures, we get a result, that shows the better alternative (that with the highest number).cost criteria can of cause also included.
15 Assessment of outsourcing criteria Seite 15 von 17 6 Assessment of outsourcing criteria 6.1 Empirical view Asked for the criteria in the outsourcing decision, there were as many answers as companies asked. Nevertheless, there are some main criteria groups for and again outsourcing Pro outsourcing As expected, cost criteria are the most mentioned, together with related criteria like flexibility. For special business lines, the access to knowledge (IT) is also a reason, and the concentration on core competencies (facility Management) Against outsourcing Against outsourcing the criteria varies even more. But many can be summarised with fear for co-ordination problems and the loss or limited control in the process. 6.2 Decision-making How a decision is to be made? There is no ultimate answer. Many things have to be thought of, every company differs with respect to available figures interest an Organization Strategy One important thing to consider before the outsourcing (and every other) decision process takes place is the Strategy of the company. For those with cost leadership targets costs criteria are the most crucial and therefore a decision is a little bit easier to make. But for those with distinction strategies dependencies have to be considered as well as image and marketing (what does the customer say e.g. made in Germany...) Assessment process As always, there is no black and white. If the alternatives thought over do not differ much, perhaps there is a way between. There are different kinds of outsourcing (in-house (in the
16 Assessment of outsourcing criteria Seite 16 von 17 building), on site (near plant), on-shore (in the country), off shore (another continent) and stages of alliances within a concern or with other companies, that there might be a solution that takes the advantages without the disadvantages. More important is a consequent risk management, starting with things that can go wrong (personnel unwillingness due to possible work abolition followed by loss in quality) to a plan B scenario taking place when the outsourcing process fails.
17 Assessment of outsourcing criteria Seite 17 von 17 7 Summary The assessment of outsourcing criteria is the most important step in an outsourcing process. The decision should be made by all stakeholders and with at least one leading member of the general board. It should take all necessary criteria into account, calculate or evaluate them, making the decision as transparent as possible. There is seldom a best decision, so risk management should be included from the beginning. The finding of criteria should individually done for different companies or business lines. Even if there are no standard criteria, companies mainly mentioned costs and knowledge access for and the loss of control against an outsourcing decision.
LOGISTIK HEUTE Forum auf der CeMAT 2008 Hannover, 28. Mai 2008 Technik vs. Lean: Widerspruch oder Ergänzung Vortrag im Rahmen des Forums: Warehousing Prozesse und Technologien mit Lean Production-Konzepten
Purchase Order Finance So you are interested in Trade finance but you re not exactly sure what it is or how it works. Purchase Order finance is funding to your suppliers. It is where your product is drop
for you and your business 1 People are important in my business As a business owner you know what you need to make your business a success. Suitable premises, machinery and your computer systems may all
Management Accounting 31 Financial Statements for Manufacturing Businesses Importance of Financial Statements Accounting plays a critical role in decision-making. Accounting provides the financial framework
Concepts in Enterprise Resource Planning Chapter 5 Accounting in ERP Systems Chapter Objectives Describe the differences between financial and managerial accounting. Identify and describe problems associated
Customer Lifetime Value and it`s determination using the SAS Enterprise Miner and the SAS OROS-Software SAS Institute Germany Fachhochschule Nuertingen Monika Seyerle To acquire more customers Business
Business finance a practical guide BUILDING YOUR KNOWLEDGE Small Business Development Corporation 13 12 49 smallbusiness.wa.gov.au The small business specialists A practical guide to business finance An
Why you really do need to consider a WMS? - A white paper by Clydebuilt Business Solutions Ltd Why you really do need to consider a Warehouse Management System? Times are changing and more often than not
Seite 1 von 5 Public consultation on Draft Advice on customer complaint handling, Reporting and Classification VKU Response The German Association of Local Utilities (VKU) represents more than 700 municipal
Valuing Your Financial Planning Business 1. Observations on the Present Market for Financial Planning Businesses In the past few years I have helped quite a few people sell their financial planning businesses
Making EDI Work in India Stephen Vincent Page 1 of 7 Making EDI Work in India A series of articles by Stephen Vincent*, from the EU-India Maritime Transport Project. In the final article of this series,
Special report: Small Business in New Zealand: Myths and realities (Part 2) Level 7, 45 Johnston St, PO Box 10 617, Wellington, New Zealand P 04 499 3088 F 04 499 3414 E firstname.lastname@example.org W www.researchnz.com
GENERAL GUIDELINES FOR DEVELOPING A BUSINESS PLAN August 2012 Table of contents Introduction... 3 1. Executive Summary... 3 2. Business Summary... 3 2.1 Company Summary... 3 2.2 Management Summary... 3
Working Capital Introduction to the Management of Working Capital AS & A2 Business Studies PowerPoint Presentations 2005 Introduction All businesses need cash to survive Cash is needed to: Invest in fixed
This is an excerpt from Lawpack s book Understanding Accounts Made Easy. To find out more business accounting secrets and expert guidance on understanding accounts, click here. Understanding Accounts Made
Going to court Before you go to court If you have been negotiating with a trader to try and resolve a consumer complaint but have not been successful, you may want to consider going to court. You should
Applying System Dynamics to Business: An Expense Management Example Bill Harris Facilitated Systems http://facilitatedsystems.com/ May 17, 2000 Abstract If you re new to system dynamics, it may be hard
Placing a Value on Enterprise Risk Management ADVISORY Placing a Value on Enterprise Risk Management 1 In turbulent economic times, the case for investing in an enterprise risk management (ERM) program
How to choose the right phone system for your business We like to make it easy for you This guide aims to give you up to date information on the latest systems and features that are currently available
Part 7. Capital Budgeting What is Capital Budgeting? Nancy Garcia and Digital Solutions Digital Solutions, a software development house, is considering a number of new projects, including a joint venture
Location Introduction Most business studies textbooks can t resist starting a section on business location with the following phrase: The three most important things in retailing are location, location
Enabling e-commerce Creating an online store The term e-commerce refers to buying, selling or ordering goods and services on the Internet. It is a subset of e-business. So e-commerce happens when any commercial
Cost Accounting Acct 362/562 Analyzing Relevant Benefits & Costs Making good decisions is important to managers as they guide their organization. Sometimes the decision is based on both qualitative (non-financial)
The How to Guide: For Using UK Call Centre Services Essential Tips to think about before choosing Call Centre Services INDEX Introduction 3 - So what is a Call Centre 3 - How to choose the right Call Centre
Accounting for inventory Whats inside Accounting for your inventory is as important as accounting for your sales. Every product you have on the shelf has a cost value, and the total cost of goods is likely
LABOUR COSTS / ACCOUNTING FOR LABOUR. Introduction Labour cost is classified as direct and indirect. They form the labour cost which in turn forms a significant percentage of the total cost of production
63 COSTS AND COSTING 6 PROFIT AND LOSS AND BALANCE SHEETS Simple Financial Calculations Analysing Performance - The Balance Sheet Analysing Performance Analysing Financial Performance Profit And Loss Forecast
Top 5 Mistakes Made with Inventory Management for Online Stores For any product you sell, you have an inventory. And whether that inventory fills dozens of warehouses across the country, or is simply stacked
CHAPTER 23 WORKING CAPITAL FINANCING Uses of Musharakah instrument in working capital financing Where finances are required for the working capital of a running business, the instrument of Musharakah may
Leasing Business Premises: Occupier Guide This document is one of three component parts of the Code for Leasing Business Premises Copyright The Joint Working Group on Commercial Leases, 2007. Any of the
Written evidence for the Department of Business, Innovation and Skills: a small business commissioner About ACCA ACCA is the global body for professional accountants. We aim to offer business-relevant,
In the financial analysis examples in this book, you are generally given the all of the data you need to analyze the problem. In a real-life situation, you would need to frame the question, determine the
EQUIPMENT RENTAL by George M. Keen, Senior Consultant Rental is an interesting area to examine from a strategic point of view. Let's look at rental growth in the last 20 years. In 1987, did you consciously
A DV I C E B O O K L E T how to finance the business HOW TO FINANCE THE BUSINESS Getting enough of the right funding is one of the more difficult tasks that you will face as a new entrepreneur. Typically,
CONTENTS Page Chapter 1 Developing a healthy appetite for risk [DTI] 3 Chapter 2 Getting the best bang per buck [DEFRA] 5 Chapter 3 Getting your house in order [Companies House] 9 Thinking About Risk -
Life is a construction site we supply the services for it. Construction machinery Industrial machinery Construction equipment DienstLeistung hoch www.nagel-gruppe.de Purchase or rental standard or specialised
How to Write a Marketing Plan: Identifying Your Market (Part 1 of 5) Any good marketing student will tell you that marketing consists of the four functions used to create a sale: The right product to the
FIA FA1 Recording Financial Transactions Chapter 1 Business transactions and documentation What is a business? Business transactions Discounts Sales tax Storage of information What is a business? Business
V-LAB-Instruction Ver 4.0.doc (A) DESNET Identification Name Addres s Web site E - mail UK Government Department supply of operational forms and marketing materials http://www.dwp.gov.uk/supplyingdwp/what_we_buy/general_goods_and_s
largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 CONTENTS What is equity release?... 3 How much money could I raise through an equity release?... 4 What
Steps to Exporting Success in international markets is critical to the long-term, sustainable growth of your business and good preparation is key to successfully managing the risks associated with exporting,
Achievement Standard 90976 Demonstrate understanding of accounting concepts for small entities ACCOUNTING. Externally assessed 3 credits Accounting 90976 (Accounting.) involves the recognition, definition
Defining the challenges to a wholesale business Like many businesses, wholesale companies are dependent on a balanced interaction of supply and demand. For them, it s a constant juggling act between the
For the Public Sector The Missing Link: Improving your organisation, by linking reward to performance Presented by: Transforming people management I. Introduction An increasing number of successful, large
THE ESSENTIAL TRAINING RESOURCE FOR SENIOR AND ASPIRING ADMINISTRATIVE PROFESSIONALS 2 secrets to cutting your business travel costs In association with By the end of this year, I will have spoken at over
Contracting for Agile Software Projects Author: Peter Stevens As a customer or supplier of software services at the beginning of a Software Development Project, you know that there is too much at stake
6 SOLE TRADER FINAL ACCOUNTS CASE STUDY Starting out in business Olivia Boulton used to work as a buyer of kitchen and cookware goods for a large department store in central London. She was good at her
INDUSTRIAL UNIVERSITY OF HO CHI MINH CITY AUDITING ACCOUNTING FACULTY 10.SHORT-TERM DECISIONS & CAPITAL INVESTMENT APPRAISAL 4 Topic List INDUSTRIAL UNIVERSITY OF HO CHI MINH CITY AUDITING ACCOUNTING FACULTY
Beyond the Polyester Veil : A Personal Injury Negotiations Case Study I m going to tell you something else almost as useful.i m going to tell you the big secret of handling your personal injury case. For
A DV I C E B O O K L E T product and service delivery PRODUCT / SERVICE DELIVERY Every business sells either a product (a physical item) or a service (something intangible), or both. Many businesses develop
HISTORY AND INTRODUCTION I 1 Introduction The APICS dictionary defines the term supply chain as either the processes from the initial raw materials to the ultimate consumption of the finished product linking
Information on: Deferred Payment Scheme From 1 April 2015 Introduction From April 2015 the way care and support is provided is changing for the better. The Care Act 2014 is a recent piece of legislation
KEY GUIDE The key stages of financial planning Financial planning has witnessed significant change, so it is not surprising that most people are unclear about what financial planners actually do. The aim
Your Freight. Our Team. Your Gain. www.vimich.com When you need a trusted partner place your confidence in Vimich Introduction Since 1984, outsourcing third party logistics has been our business. Beyond
THE INSTITUTE OF BUSINESS ADVISERS LONDON BRANCH Creative Industries Workshop Key IPR Issues Dr Rosanna Cooper, Principal, RT Coopers Telfords Yard, 6/8 The Highway London, E1W 2BS Tel: +44 207 488 2985
APRA REVIEW OF UNIT PRICING PRACTICES Unitisation is the process by which a pool of assets are broken into portions of ownership (units), which are conceptually similar to shares in a company. The process
7 Marginal and absorption costing this chapter covers... This chapter focuses on the costing methods of marginal and absorption costing and compares the profit made by a business under each method. The
6 Steps to Creating a Successful Marketing Database Why Invest in a Marketing Database? An organisation that has an ineffective marketing database, multiple databases that cannot communicate with one another,
IP Valuation WIPO Workshop on Innovation, Intellectual Asset Management and Successful Technology Licensing: Wealth Creation in the Arab Region Muscat, Oman, December 12 and 13, 2011 Topics Intangibles
Improve productivity and reduce costs with industry leading Enterprise Asset Management (EAM) solutions. In asset intensive industries, any downtime can have a significant impact on an organisation s bottom
Management Accounting 137 Comprehensive Business Budgeting Goals and Objectives Profit planning, commonly called master budgeting or comprehensive business budgeting, is one of the more important techniques
Supplier Capacity Planning at IKEA Capacity planning from an outside-in perspective Johanna Larsson and Johanna Viklund Department of Industrial Management and Logistics Division of Engineering Logistics
THOUGHT LEADERSHIP SERIES 6 Questions CFOs Should Ask About 0 by Andy Thurmond, Karmak, Inc. One decision facing business managers is the method used to value inventory.* The decision has a great impact
Basic Economics of an Agricultural Cooperative A Self Study Guide for Members and Staff of Agricultural Cooperatives LESSON ONE: MARKETING SERVICES Objective: To learn the basics of how a cooperative can
AOM Example Question Paper and Mark Schemes Please be aware the live examinations are taken at a Pearson Vue test centre and the layout will be different to this example paper. During live examinations
NOTES TO ASSIST COMPLETION OF BUSINESS QUESTIONNAIRE Never change company shareholding without conferring with us because there are tax implications. Please note the following comments 1. Cars If you sell
Ten Things to Consider for Sourcing Success Director of Professional Services IHS Support Solutions Table of Contents List of Figures 2 List of Figures 1 Understand Your Current Environment 3 2 Understand
Sage 200 Accounts v2009 is supplied with a new help system. The new help system is complemented by a comprehensive search facility across all of the accounting modules. We have provided this Sage 200 v5.1
Competitive Organisational Structures Organisational structure basics Introduction The way in which a business is organised has a direct effect on its competitiveness. For a business to be able to achieve
Chapter 2 An Introduction to Forwards and Options Question 2.1. The payoff diagram of the stock is just a graph of the stock price as a function of the stock price: In order to obtain the profit diagram
Evaluating Your Needs Life is a series of making decisions. Some decisions are easy because they do not require a substantial investment of time or money. More importantly, easy decisions do not require
NSW BOARDING ACCOMODATION CALCULATOR USER GUIDELINES ORIGINALLY PREPARED FOR NSW DEPARTMENT OF HOUSING IN MAY 2007 BY HILL PDA. AMENDED JULY 2010 BY HOUSING NSW 1 WHAT IS THE BOARDING ACCOMMODATION CALCULATOR?
UNIT 1 ESTABLISHING AND OPERATING A SERVICE BUSINESS In Unit 1 of the VCE Accounting course, we will cover the following chapters: CHAPTER 1 THE NATURE AND ROLE OF ACCOUNTING IN SMALL BUSINESS 3 CHAPTER
Does the cashflow in your business ever get tight? Creditors Stretched and not paid Slow payment from customers Going without getting paid yourself Can t take on work because you can t afford it Equipment
Level 3, 66 King Street Sydney NSW 2000 Australia Telephone +61 2 9290 4444 or 1300 922 923 Business Opportunity Enablement through Information Security Compliance Page No.1 Business Opportunity Enablement
MODULE - 6A Cash Flow Statement 30 CASH FLOW STATEMENT In the previous lesson, you have learnt various types of analysis of financial statements and its tools such as comparative statements, common size
Administrative Systems and Institutional Infrastructure Some Key Considerations for ICT System 1 ICT Systems - Key Issues Why ICT? Stakeholders Gaining Support Institutional Responsibility Institutional
Building a financial perspective into an engineering program P.J.Gregory Department of Mechanical Engineering, Monash University, Clayton Campus, Victoria, Australia (Peter.email@example.com) Abstract
Outsourcing IT The Legal Aspects Planning, Contracting, Managing and the Law Second Edition Rachel Burnett Business Assets: Premises and Equipment Chapter 5 Special considerations arise in those outsourcing
General Comments Performance overall in March 2011 was comparable to the September 2010 diet. While the pass rate was acceptable, it could have been significantly improved if candidates had worked through
The Beginner s Guide to Inventory Management Brought to you by Cin7 What is inventory? Inventory is a broad term that encompasses every physical thing that a business owns - from the desks and computers
When Finances Go Wrong - Debt Very few people now have no debt at all after all a mobile phone contract, or your rent/mortgage are both debts. It becomes an issue for people when they cannot meet the payments
Chapter 10 Working capital 1 10.1 Working capital Working capital is the capital available for conducting the day-to-day operations of the business and consists of current assets and current liabilities.