Need some help with an assignment

PHOENIX FINE ELECTRONICS 2

Phoenix Fine Electronics

Patrick Carrasquillo

University of Phoenix

CMGT/583

Bruce Voris

7/04/2022 Overview of Business needs and Desired Outcomes

Medium-sized Phoenix Fine Electronics (PFE) is looking to grow. The company, which has 25 locations and generates $15 million in yearly sales, needs to expand into three surrounding states during the next five years through retail acquisitions. A retail manager and an information technology manager are assigned to each PFE location. The IT manager has ambitions to streamline several corporate operations using technology, including increasing revenue, keeping tabs on stock, gathering information about customers, and handling payroll and inventory. The PFE store manager and IT manager need a system to facilitate growth for the organization.

Project Scope

Store and IT management at PFE need a streamlined structure to facilitate growth. A strong online presence will allow PFE to reach a wider audience and provide managers with the tools to better integrate departmental operations and customer data for faster and more informed business decisions. This project's scope is to provide the most appropriate system recommendation for PFE to align the store and the IT and facilitate expansion for the organization.

System Recommendation for Phoenix Fine Electronics

I suggest that PFE implement an enterprise resource planning (ERP) system. The ERP system can record the critical data for PFE's growth. Most CRM and BI/DSS features are also incorporated in ERP systems (Kiran et al., 2019). Human Resources, Customer Relationship Management, Business Intelligence Support, Supply Chain Management, Inventory Management systems, and Financial Management are just a few examples of how ERP helps businesses run smoothly and fulfill the responsibilities of the store and IT managers at PFEs. ERP also aids management in several other ways, such as facilitating the administration and integration of company operations and serving as a source of crucial business information.

Measurable Organizational Values from ERP

The three most important measurable organizational values that PFE must focus on include maintaining strategic business goals, aligning to required performance, and working on cycle time. The ERP system aligns with the company's strategic business goals since it will facilitate consolidating currently disjointed systems and technology used by the organization (Al-Surmi et al., 2020). Prioritizing requirement performance will help guarantee that the ERP system provides everything PFE wants. The entire project duration, from its inception to its conclusion, is included in the cycle time. PFE, as a corporation, needs to be patient and realize that implementing ERP will not happen over a few months.

Benefits of the Values to Phoenix Fine Electronics

The three aforementioned organizational values will create several benefits for PFE. For instance, strategic alignment of projects will help PFE increase its project success rates. Projects aligned to business goals and objectives are more likely to achieve their organizational aims and deliver business benefits (Al-Surmi et al., 2020). Aligning to strategic business goals also fosters an increased focus on value creation and clear resource allocation and eliminates wastage of available resources. Performance requirements are vital in describing how best the ERP system will accomplish specified functions under specific conditions (Al-Sarayreh et al., 2020). This will help PFE determine system speed through execution time, response, and storage capacities. It is also crucial in supporting end-user activities. PFE can improve its ERP performance by optimizing the system by monitoring cycle time. For instance, a shorter cycle time will translate to increased efficiency, less wastage, and increased customer satisfaction by decreasing delays.

How the Values will differentiate Phoenix Fine Electronics to Customers

Implementing an ERP system at PFE will create a significant difference for customers because of the organizational values the ERP will generate for the company. For instance, PFE customers will experience faster product deliveries because inventory data will remain accurate and easily accessible. Customers will enjoy easy and more effective ordering processes through the cross-functional collaboration created by the ERP system (Al-Sarayreh et al., 2020). Another key difference the organizational values will develop for PFE customers is improved customer service. ERP system allows the programming of its tools, creating customized information for customers. Therefore, PFE customers will enjoy customized dashboards, making it easy for them to access the information they need.

The Risks of Doing the Project

Undertaking this project poses several risks and challenges for PFE. For instance, the organization may face challenges during ERP implementation for failure to design business processes and functions to align with the chosen software. Changing established procedures may be a major challenge for many medium-sized companies (Taghipour et al., 2020). Adopting an ERP system to work with existing practices is time-consuming and expensive, making it the most pressing concern about launching an ERP system. It is common practice for ERP projects to have hard timelines that must be adhered to. Therefore, there is little time to teach and equip most people with the knowledge and abilities they need to function adequately. Other ERP implementation risk factors for PFE involve technological novelty, application scale, application complexity, and failure of technology to fulfill specifications (Taghipour et al., 2020). A lack of sufficient technical competence and acceptable technology infrastructure for supporting project objectives may also create challenges with the ERP implementation.

The Risks of not Doing the Project

If the company keeps its current operational structure without deploying the ERP system, it will place all of its faith in the hands of the retail and IT managers at each site. The store and IT managers are responsible for accounting for all sales and stock levels without any oversight from upper management. With an IT manager on staff at each site, considerable funds have likely been wasted buying several copies of the same software and apps for each store. With only 25 outlets, it is a great time for PFE to consolidate its retail business. Since the expense of implementing ERP in the future will account for more money than what the firm can spend on the project right now, delaying the ERP initiative will make it more difficult to complete as the company continues to grow.

System Comparison Chart

Description	ERP	CRM	BI/DSS
Elements of the System	Human resources Customer Relationship Management Business Intelligence Support Supply Chain Management Inventory Management System Financial Management	Marketing Automation Sales Force Automation Customer Service Solutions and Management	Business Intelligence Data Management Application Management Cloud Computing
Benefits of the system in management	It helps the management in several ways, including managing and integrating business processes (Kiran et al., 2019). It is the source of business information, vital for management	Examines customer preferences and tastes Help in customer service support (Naim et al., 2021). Marketing	Decision Support Systems (DSS) offer an organization's managers the capability to visualize, analyze, and improve key business decisions (Fayoumi, 2018).
Partnership of the system with IT	The system effectively partners with IT, especially in implementation and maintenance.	The IT team can partner with the system to collect customer information.	The IT team can use the system to gather information and solutions for the business (Fayoumi, 2018).
Strength of System	· Streamline workflow · Better financial planning · Improved communication	· Allows consolidation of customer data for better insights. · Speeds sales conversions. · Improves customer experience	· Easier data visualization. · Easier to track KPIs.
Weakness of System	· Slow software implementation · Expensive to implement · It is complex	· Requires a process-driven sales structure. · Centralized data creates data security concerns.	· Blends professional and personal boundaries. · It may require multiple applications for BI.
Impact of System's Strength	Increased efficiency and speed in the internal processes of the organization.	Massive volumes of customer interaction data allow businesses to understand their clientele better.	Recent BI tools make it quick and easy to visualize massive amounts of data.
Impact of System's Weakness	May reduces the availability of resources for other business units due to the high implementation costs.	While the long-term benefits of instituting a formal sales process are clear, the short-term costs of switching from an informal to a formal sales process may be prohibitive for certain businesses.	Many companies offer business intelligence software as a service, and these companies' offerings might vary widely.

References

Al-Sarayreh, K. T., Meridji, K., Abran, A., & Trudel, S. (2020). System performance requirements: A standards-based model for early identification, allocation to software functions, and size measurement. e-Informatica Software Engineering Journal, 14(1). https://yadda.icm.edu.pl/baztech/element/bwmeta1.element.baztech-289c0dbc-bafa-4516-a2d0-107707f60bf7

Al-Surmi, A., Cao, G., & Duan, Y. (2020). The impact of aligning business, IT, and marketing strategies on firm performance. Industrial marketing management, 84, 39-49. https://www.sciencedirect.com/science/article/pii/S0019850118304449

Fayoumi, A. G. (2018). Evaluating the Effectiveness of Decision Support System: Findings and Comparison. International Journal of Advanced Computer Science and Applications, 9(10). https://pdfs.semanticscholar.org/00a2/4e13a23edc67a3122f6967d94853dbd7f78d.pdf

Kiran, T., & Reddy, A. (2019). Critical success factors of ERP implementation in SMEs. Journal of Project Management, 4(4), 267-280. http://m.growingscience.com/beta/jpm/3280-critical-success-factors-of-erp-implementation-in-smes.html

Naim, A., & Alqahtani, K. (2021). Role of Information Systems in Customer Relationship Management. Pulse, 2(2). https://www.ijiccn.com/images/files/vol-2-issue3/1059down.pdf

Taghipour, M., Shabrang, M., Habibi, M. H., & Shamami, N. (2020). Assessment and analysis of risk associated with implementing enterprise resource planning (ERP) project using FMEA technique (Including Case-Study). Management, 3(1), 29-46. https://www.researchgate.net/profile/Mohammad-Taghipour-7/publication/341151811_Assessment_and_Analysis_of_Risk_Associated_with_the_Implementation_of_Enterprise_Resource_Planning_ERP_Project_Using_FMEA_Technique/links/5eb13daf45851592d6b980ec/Assessment-and-Analysis-of-Risk-Associated-with-the-Implementation-of-Enterprise-Resource-Planning-ERP-Project-Using-FMEA-Technique.pdf