The aim of company carry out the customer mafed essay profitability analysis is to determine the profits that have been brought by each of company customer group. The changes are due to the impact of the global economic recession which leads to the declining of number of the customers. This can be achieve by making a survey through mails, telephone and ask the degree of their satisfaction in terms of product, service or quality. The disadvantages of customer profitability analysis are the management may not have the required resources and data capture systems including the information technology, equipment and staff for the analysis and preparation of the customer profitability to produce accurate estimation of customer segmental revenues and costs. First step is company need to identify customer driven activities which are the order level activities, customer level activities and market level activities. Let see, if process number one incurred more cost, thus company need to focus more on that process in order to eliminate the cost. Quality: The next reason that the change is not wise is in term of quality. It means that, from the analysis, the management can identify which of their customers are profitable and which are not profitable to the company. MegaEssays, "Essay on justice. There are five (5) cores of customer measures that apply to all forms of organization. Then, they also demand a good service from the company not only during buying the product, but also after sales.
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In order to know whether customer is satisfied or not, company need to have customer performance measurements to define and measure the customer performance. It sounds simple on the surface, but it is actually quite complex. However, simple activity analysis in is not very useful when it comes to cost management, thus ABM analysis need more comprehensive analysis that cover matters in details. Management cannot reduce their cost if the spare capacity is not reduced. Due to the high quality of product, it indirectly will improve customers satisfaction because of the product was fulfilled their need. So from that, company will produce products that have high quality then it will indirectly increase profit of the company. In the case, CendolBucks customers loves the cendol because of its best quality. Through this step, manager of the company will eliminated the non-value added activities so mafed essay in order to eliminate the company will find the real root cause of non-value added activities. At this stage, company must identify each activity and its cost incurred in organization.
In addition to tracking cost mafed essay drivers, activity-based performances enable the company to monitor and improve quality and delivery. In traditional, company has minimum understanding on how to increase the customer profitability. The first step is identifying the major opportunities for cost reduction. It is very important to identify the activity driver because it helps the company to assign the cost more accurately as we know what the activities that drive the costs are. The objective of ABM is to improve the effectiveness and efficiencies of organization in securing its markets. Traditional versus customer profitability analysis approach Before customer profitability analysis develops, all customers are treated equally regardless of their contribution. For customer profitability analysis, the cost that incurred to facilitate the customer will be spread over each of the customer group. However, during recession, if CendolBucks aims on cost and use instant cendol instead of fresh cendol, the specialty taste of their cendol will be gone, and now loyal customer who desire that taste will be gone too. First, company need to identify which one out of four processes of non-value added activities incur more cost. By continuously monitoring company performance, managers could obtain feedback on their performance, set target that they want to achieve in future and take corrective actions when required.
Customer who makes frequent order will use more resources than those who make infrequent order. In simple way, company can apply customer profitability analysis in this level. Advantages AND disadvantages OF customer profitability analysis Information on the customer profitability can be used in the strategic decision of the management. Some customer may purchase products directly from the company, some of them may purchase from warehouse, agents or internet. This method is used to monitor the effectiveness of cost reduction effort and customer value. For free space on factory floor, since company cannot eliminate these free space as they still need incurred cost on that particular area such as factory lease, factory insurance and maintenance cost of factory, company can used it for other. There are five (5) steps that should be taken by management to carry out customer profitability analysis.
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Thus, company need to satisfy the customer and maintain their relationship so that they can bring last longer profit to the company. But since the customer profitability analysis develop, the service is driven by customer contribution to maximized value and ensure the customer relationship is profitable. For example, if there is a problem incurred on the product, the company will send their staff to provide with repairing and maintenance services. This can be measured by calculating the number of new customers mafed essay and what are the total sales that have been contributed by them. Besides that, as the customer profitability analysis depends on the mix of products or services that the customers bought however, the analysis might be used on specific underperforming products or services and will overlook the impact of sales of other products to the customers. Differences in customer costs arise from the way customers use companys resources by using the downstream activities which can be divided into four customer groups. There are three levels of customer driven activities. Customer loyalty tends the customer to voluntarily choose companys product against another for his need. CendolBucks is very famous because of the quality of its cendols, so when it uses instant cendols, it will lose its main competitive advantage.
There are two ways that occurred in order to eliminated non-value added cost, first by transform activities into process and second by performing cost drivers analysis. Specialized in designing, supplying, engineering, installing, testing, commissioning and maintenance services, we are recognized as success stems by our clients as we create a high performing fire saf. This stage is very important as company need to know what their customer wants the most so that they can satisfy their needs. Those spare capacities must be eliminated or used for other value added activities in order for company to achieve their objective. For example, in Malaysia there are a lot of company that provide courier services such as Pos Malaysia to deliver the products to customers. The first step is identify major opportunities, follow by determine the real root cause, develop a new program and introduce and monitor the performance of the program. After know what type of non-value added cost was incurred, the company will minimize as well the cost that only incurred value added and few cost of non-value added so that cost saving of the company can be achieved. Furthermore, company can make certain promotion to attract the new customer because majority of the customer love to buy the product at lower price. After main root of the cause was found in the previous step, then company need to develop new program that can overcome the root cause.
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Lastly is market share which customer wants to measure the proportion of sales in the given market. After that, they can start to identify the root cause cost drivers of major non value added activities using cost driver analysis, a method that identifies root cause cost drivers of activities. Some customer may prefer to purchase products through online and some of them may prefer to purchase from sales gent through direct calls. The reason is that there are a great many possible answers to the question. All the customers are different and this can be due to differences in revenue charged to the customers and the differences in costs used to service the customers. Thus, it can maintain the presence of the company in the particular market attract more new customer. ABM analysis should cover all activities that incurred at greater level of detail which will reflect individual tasks or step in a process. Process TO reduce cost ON ABM Basically in order to achieve purposes of ABM which are to create customers value and to increase profitability of the company, manager of the company firstly need to reduce the cost of production. APA, mLA, chicago, essay on justice. The result of ABM enables company to produce more accurate budget and financial forecasts. Therefore, non-value added activities can be eliminated by the company. For example, when company eliminate non added activity like move material, they need to reorganize the position of machinery in companys factory to shorten the time taken by employees to move material from one machine to another machine.
Customer activities are the activities that facilitate the customer from taking customer order until delivered the product to the customer. From the customer profitability analysis, management can identify which of the customers generate the highest profit and how can the company mafed essay do to retain those customers, which of the customers generate lowest profit and what can the company to make. If CendolBucks change to a cost leadership strategy, they will stop having cendolians craft the cendols, and just use instant cendol. The last step is to measure company performance. It allows the management to analyze a particular customer or a large group of customer at one time. So those through using ABM it involve process to identify real cost drivers when making cost reduction. Lastly, in traditional approach, company has little or no awareness on how individual customer affects the profit. Impacts of using ABM are real cost had been identified, cost saving can be achieved, improved profitability and also increase customers satisfaction.
Value added activities is the activities that provided essential value to the customers or to functioning of businesses while non-value added activities is the product that did not add value of products from customers or businesss perspective. For example, some customers at Pizza Hut might request additional item to be added into their pizza such as adding more cheese or extra sauce. For employees involved in moving material activity, they are paid wages by company so in order to reduce the cost, company can terminate some of the employees or transfer them to other value added activities. If one of the customer groups always brought negative contribution, company who has deeper understanding will make an analysis and respond to it by influence their buying behavior of preference so that the profitability of that customer group. M, (December 31, 1969). Customer preferance measures For company, customer is very important because it can increase the profitability of the company.
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These will help the management to make strategic decisions on which mafed essay customers or distribution channels that need to be focus on and help to identify the areas for cost control and cost reduction. After knows the reason, company may influence their buying behaviour or preference so that the cost that incurred by that customer group can be reduce (positive contribution) and lastly increase the profit of the company. At this stage, company focus more on eliminating non-value added activities, so from there they need to find the real root cause of non-value added cost. After that, management will do analysis on activities involved in production process, cost driven and its performance. However, before company can know about it, company need to analyse them and making some observation through research or questionnaire. It allows management to determine which of the customer is profitable or if the company should charge a higher price. 680 WordsJul 12, 20133 Pages, prepared by: adam BIN MAT yusof ( ) aziyana binti azizan ( ) Prepared for: puan intan marzita binti saidon Group: ACB8Aa Business-level strategy addresses the question of how a firm will compete in a particular industry. Third, products can be offered through many distribution channels. To maintain the customer, company can give samples to the customer so that they can update themselves with the new product. After company knows the total cost, the cost need to be allocate according to each of the customer group so that company can determine the profitability of each customer group. For the second level is customer level activity.
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By transforming activities into process, company mafed essay can get better understanding on all process of production involved, start from input into output. Spare capacity that is created through reduction in root cause cost drivers need to eliminate or used for other value added activities. Thus, it contributes to the customer profitability which lastly increases the market share of company. Next, company needs to identify the activity driver. However, for ABC system the overhead cost that incurred to manufacture the product will be spread over the products. For the third level is market level activities, it relates with the particular markets or class of the customers. This is because, the techniques are just the same except that customer profitability analysis is emphasize more on customer cost whereas ABC system emphasize on the overhead cost. Since the purpose of using ABM is to reduce cost and improve profitability, company will take action in the production, in order to minimize the costs and improve the high quality of the product. For example, company will only targeting high performing customer and mediate the unprofitable customer. Some customers may require additional features to be added to the products. However, in customer profitability analysis, company has deeper understanding of customer profitability and knows how it can benefit the company. To attract the new customer, company can attract by making an initial call nd advertise about the new products and what is the special feature.
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