• Hiram Phillips could have used benchmarking to assist in his cost reduction efforts by following the five stages of benchmarking. Initially, an internal study and preliminary competitive analysis should have been conducted to determine how it currently performs on its dimensions. Some of these activities are labor cost, delivery of shipments, customer service time spent on the phone, and cost of commissions on sales to employees. Using the company internal data and preliminary external competitive analysis, using industry comparisons of quality from reliable consumer reports, would determine the scope and significance of the study for each area.
• In the second stage, a benchmarking team should have been developed of committed
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While another team in the customer service call center is responsible for dealing with trade and retail customer’s complaints and questions. Continuous education and training programs should be implemented to train the customer service call center representatives, on how to efficiently take orders, handle questions and complaints while maintaining quality customer service. Through gathering of information from benchmarking partners, the customer service call center should have an average time spent on the phone with customers. Representatives that constantly provide quality customer service and do better than the average time spent on the phone should be acknowledged and rewarded with an incentive that will create competition among the reps to perform better continuously.
• Appraisal Cost:
An example of an appraisal cost in Hiram’s business would be the delivery of shipments because as stated in the article, “no reliable metric had been in place to track it,” and according to Billy Benton, an order that was supposed to be shipped was never shipped, all along it was sitting on a railroad siding across from the plant, referring to Rainbarrel’s shipping process. In order to monitor the shipping process, an appraisal cost would have to be incurred because it relates to inspecting products to make sure they meet both internal and external customers’ requirements. Tracking of the shipment is tracked through tracking numbers
Competition and technology changes in the telecommunications industry has resulted in declining profits for Desert Communications Incorporated (DCI). The competitive business climate in the telecommunications industry requires DCI to initiate proactive strategies to drive profits. The conventional view of the customer contact center is as a cost center for supporting customer relations (Kaiser, 2011). Learning Team B will demonstrate
During 1992, Hanson’s share of industry sales was 12% for type 101, 8% for 102, and 10% for 103. The industry wide quoted selling prices were $9.41, $9.91, $10.56, respectively. Wessling order no immediate changes, however he advice to wait for results of the first half of 1993. He instructed the accounting department to provide detailed expenses and earnings statements by products for 1992. In addition, he requested an explanation of the nature of the costs including their expected future behavior (exhibit 3). For control purposes, he had the accounting department prepare monthly statements using as standard costs the actual costs per cwt. from 1992 profit and loss statement (exhibit 2).
|Selling Price per|Year 1 Sales Units |Year 1 Year End Stock units |Year 2 Unit Sales |Sales Revenue Year 1 |
Contrary to the situation at E-Z RP, there is no linkage of customer service representatives to development teams. For instance, CRSs are often the last to gain access about new information or new products. In terms of the organization of customer service, E-Z RP uses a specialized call center where customer service representatives deal with a single product. At Datatronics, the call center is centralized and CRSs deal with all products. E-Z RP uses the second tier support while Datatronics uses a minimal second-tier support. In terms of the training of CSRs, Datatronics only provides minimal on-the-job training while E-Z RP provides extensive training. Datatronics hires employees with basic customer service ability while E-Z RP recruits employees based on customer service skills, business knowledge, and communication ability. The performance metric at E-Z RP is the level of customer satisfaction, while the metric at Datatronics is the time on call or between calls. Although Matt does not intend to reproduce E-Z RP’s customer service system at Datatronics, these are the key issues that he ought to consider in making recommendations for changes at Datatronics.
Dominite customer relations and sales for the long term can be improved not only by product services, technical assistance
This memo highlights segmented reporting and the variable approach to preparing income statements. Segmental reporting is necessary since there is a need to understand the cost data for each section. Proper cost allocation is critical to preparing the income statements, while it is also easier to identify the costs that are common and not attributable to any specific segment. Typically, the management analyzes the cost behavior by making the assumption that the total costs change occur because of change in level of a single activity (Slideshare, n.d.). The variable costing
Introduction to Customer Effort Score was discussed, the types of effort a customer goes through and the 7 Ideal Behaviors that reduces customer effort. The trainees were paired for practice calls on order entry, general inquiry and updating profile online scenarios, and were asked to switch roles. Everyone participated in giving their feedback on the activity. Each trainee gave their input on how they will score a particular call presented and discussed why they gave that CES score. They were able to defend the scores they gave and based it on which among the 4 different types of efforts is present, consequently they were also able to gave which of the 7 ideal behaviors they can use to reduce customer effort on a particular call being discussed.
A financial report that summarizes the amounts and types of costs that were incurred in the manufacturing process during the period is a: Manufacturing statement.
The observation companies in this paper would be Verizon Wireless and Time Warner Cable. Both of the companies are in the similar industry, both of them are telecommunication providers. I am currently a customer of Verizon Wireless and Time Warner Cable for four and three years respectively. The customer service is a critical part of any business operation that involves customer as they need to keep customer’s satisfaction to ensure that they are able to make revenue. The observation of customer service in this paper is based on the experience with dealing both of the company’s customer service over the phone, and over the social media. The customer service through the social media is popular in the past few years. The paper will discuss
INTRODUCTION Businesses – from manufacturing, merchandising and service industries alike – take careful consideration in the analysis of their costing systems in order to be able to set up competitive prices in the market. Misallocation of costs may lead to incorrect price estimates, continuous production of unprofitable products, and ineffective processing schedules. In this case study, we will discuss the costing methods which Zauner Ornaments have used or is currently using and, in conclusion, be able to distinguish the advantages and disadvantages of each costing method. CASE CONTEXT The case seeks to assist Zauner’s comptroller, Yu Chia-yi, in determining the best costing method for their overhead costs. In addition we also aim to
Utilizing Will’s old costing method, we see below the only difference between the costs (per gallon) of Polynesian Fantasy and Vanilla products was the 20 cent difference in the cost of direct material (DH). The overhead rate (OH) was 200 percent of direct labor (DL) dollars. Seeing that the direct labor dollars were $300,000, the next step in calculating the overhead rate is to multiply 300,000 by 2.00, or 200%, which gives us $600,000. To ensure our arithmetic is correct, we must divide the $600,000 by the $300,000 which equates to 2.00, or 200%, indicating our arithmetic was in fact correct.
Provide a means for customers to provide feedback after calls to acquire their satisfaction score on the overall service experience and allow them to point to areas that need improvement
The customer service personnel should be in a position to acknowledge their clients and pay attention well to whatever they say and put into practice active listening. They should also give a chance to the customers to respond to the services the company offers perhaps through the enterprise’s website. For any company to prosper, good customer relation is paramount in building a loyal
Businesses – from manufacturing, merchandising and service industries alike – take careful considerations for their costing systems. Setting-up competitive prices in the market can be a result of proper costing methods. Misallocation of costs may lead to incorrect price estimates, continuous production of unprofitable products, and ineffective processing schedules. In this case study, we will discuss the costing methods Zauner Ornaments are currently using and upon conclusion, it will enable us to distinguish the advantages and disadvantages of each costing method.
o Performance evaluations are formal review processes designed to encourage the informal day-to-day practice of performance management, while providing a framework in support of merit pay adjustments, promotion and employment decisions. Evaluating staff performance and helping employees develop their skills are important duties associated with performance management. Performance management begins with supervisors and employees collaboratively setting goals and standards, clearly communicating performance expectations and evaluating the results during the performance evaluation process.