Answered: Table: Factors causing the decline in…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Table: Factors causing the decline in sales

Factors	% Contribution
Delayed deliveries	15%
Lack of delivery personnel	8%
Inaccurate sales orders	25%
Wrong deliveries	32%
Delayed invoicing	6%
Pilferage	7%
Expired items	7%

a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem.

Hint: know the vital few %

b. What are the vital factors or vital contributors to the problem?

c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem?

Hint: Use SMART GOAL

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