Stage 2: Requirements Specification

Stage 1- Preliminary Investigation Report

7

Stage 1- Preliminary Investigation Report

Stage 1- Preliminary Investigation Report

Nambo Francis

IFSM 461

November 2, 2021

Stage 1- Preliminary Investigation Report

Introduction

Precision Electronic Parts presents customer invoicing and payment systems as part of their due diligence, and Burton's BBISAC has examined any associated daily business operations. As a result, the Information Technology Advisory Committee of PEP requested this study.

Problem to be solved

Older medical equipment may now be made more eco-friendly by using PEP's low-voltage motor. PEP has also developed a new range of more competent low-voltage motors that are not just for medical applications anymore. As a result, the demand for motors has increased, and the existing operating system cannot meet it. There have been expansions in other areas to deal with the growth, but none have been made in the Purchases & Delivery, Inventory Operations, or Finance divisions. To keep up with orders and inventory, the Finance unit needs a systems overhaul. Current invoicing, billing, and consumer payments processing are being left at the Finance department's mercy. PEP requires a system that can manage an endless number of invoicing and payment processes and inventory tracking.

PRELIMINARY FINDINGS

Project Scope

If BBISAC designed it, or if PEP bought it off the shelf, this project aims to make PEP's daily business operations as efficient and successful as possible (COTS). Using this IT system will allow a PEP to speed up and enhance the quality of its standard business procedures while also ensuring the company adheres to HIPAA and Privacy Act industry regulations since they do business in the medical sector. With this new system, the finance department will be able to charge and deliver invoices to clients more quickly while also processing payments, in the same way, resulting in fewer backlogs. In addition, PEP will increase its workforce now that a new IT system has been implemented, as they will have the requisite technology to meet the increasing demand for low voltage motors. The system must be safe so that financial records may be stored and maintained according to the National Archivist's standards. Customer information will be appropriately uploaded and accessed by all PEP staff, and BBISAC will be in charge of the hardware and software setup. The new method will be taught to BBISAC employees, or training will be scheduled for them. Customers will be given training materials and manuals as well.

Project Constraints

The following issues have come to light concerning this undertaking: No access control will be possible because all transactions will be handled locally on the server. Suppliers will provide hardware and software resources, which will impact the timelines of included tasks and the overall project (once defined). This puts the entire project at risk for cost overruns if a section of it goes over budget. To avoid this, resources can be reallocated so that the project is done within the budget. Additionally, when in addition, when project team members are unable to work due to unforeseen circumstances, the timeliness of the final output may be compromised. Finally, if vendors stop supporting hardware or software components, additional costs or a reassessment of project architecture may be required.

Fact-finding

A rise in demand for PEP's product was already mentioned; thus, that department has been enlarged to fulfill this need and the sales and marketing branch; nonetheless, additional staff is needed in order and shipping and finance. To improve daily business procedures, the company will profit substantially from adding more employees. The new IT system will have a significant impact on how many personnel each department needs to keep. In addition, PEP wants to upgrade its current inventory control system to meet the present demand for low voltage motors. For the time being, they are facing hurdles, but with more employees and a more effective billing system, they will be able to handle the influx even better.

Current Costs

The current system's price has not been determined. The cost of a system update or replacement is determined by the proposal's hardware/software needs.

FEASIBILITY ANALYSIS

Technical Feasibility

The technological advance will necessitate either a complete system replacement or improvement that seamlessly integrates with the existing system. PEP's sales and marketing staff will be able to keep up with the increased demand.

Financial Feasibility

In the first year of the system's launch, PEP should see a return from the investment. Installed and adequately maintained, modern technology is easy to use and maintain at little expense.

Organizational/Behavioral Feasibility

The organizational structure does not need to be altered; only staffing needs to be increased slightly. There is no need to build any new facilities or make any new financial commitments. PEP will electronically contact a more extensive set of target populations thanks to this program at a cheaper cost. If PEP is successful, it will be able to serve companies from throughout the world.

RECOMMENDATION

Time & Cost

Estimate In the absence of a precise solution, BBISAC cannot guarantee an exact completion date for the project. Still, it should not take more than six months to complete, including testing before a full-scale rollout across the corporation. To use Intuit Quick Books, you will have to pay an annual fee of $480 (Intuit. n.d.). This program will help you keep track of your income and expenses. The process of estimating and billing should be undertaken to automate the synchronization of financial accounts and apps. Organize your finances and pay your debts. Real-time reports on sales and profits, Keep an eye on the inventory. Produce and publish Form 1099s as needed.

Expected Benefits

The IT department should fully characterize the inventory management system's shortcomings after the systems analysis phase. To avoid late billing and invoicing and the collection of payments, BBISAC will provide solutions that use a new system that reduces processing errors (Ma & Kim, 2017). Performing PEP with a department, area, or organization as a whole has the following advantages: In the workplace, information moves more quickly. Decisions are taken faster at all levels, and division/corporate goals are planned and followed. Other advantages may be realized depending on the organization's structure or culture, and they can be targeted accordingly. Additionally, our clients see a reduction in costs as a direct result of increased efficiency, as well as a variety of other benefits, including higher work quality and customer service; better business development; increased coordination and delegation; better strategic planning; higher staff morale; and better project initiation and implementation.

References

Intuit. (n.d.). Intuit QuickBooks. Retrieved on September 4, 2016 from https://quickbooks.intuit.com/ business-type/product-sellers/?cid=ppc_YB_Phrase_ US_QBO_US_NB_PBB_Phrase_Tier-2_YB_S_inventory-system_txt&cvosrc= ppc.bing.inventory%2520system&matchtype=p&adposition=%7badposition %7d&creative=%7bcreative %7d&content=&cvo_search=1&mobile=&X1ID=~uk~&ef_id=V8zNPgAABYHzkrHy:2 0160905014118:s

Ma, J., & Kim, N. (2017). Electronic part obsolescence forecasting based on time series modeling. International Journal of Precision Engineering and Manufacturing, 18(5), 771-777.