Phoenix Fine Electronics would like more information about their system options and your recommendation. They are interested in learning how the strengths of the system can be turned into measurable v

Phoenix Fine Electronics would like more information about their system options and your recommendation. They are interested in learning how the strengths of the system can be turned into measurable v
Phoenix Fine Electronics (PFE) is a medium or mid-sized company, but which is growing rapidly each year selling technology products to retail consumers. The company has an annual revenue of $15 million in sales. PFE started with one store but has grown to 25 stores and has expanded into a second state. PFE has one store in a town with a population of 100,000 and three stores in towns with populations exceeding 200,000. The goal of the company is to continue expansion into an additional 3 neighboring states within the next 5 years. PFE wants to utilize the same population numbers to determine the number of stores it should open. It would also like a marketing firm to do an analysis of each town that meets the population criteria to determine the best cities in which to open new stores. Each store employs a store manager and an IT manager, who both directly report to the Chief Executive Officer (CEO). The current IT plan for each store is to utilize technology to support the store; increase sales; track inventory; secure store customer data; perform payroll; and report all sales, inventory, and payroll data to the main office. The IT manager is responsible for managing the IT systems, making decisions on what technology and software are needed, and implementing the systems while ensuring accurate reporting to the main office. The store manager is responsible for all staffing, inventory, and sales functions within the store. With the expansion and acquisition of smaller independent stores, the CEO is worried about how department and customer data can be aggregated to allow the company to make better, timely business decisions. Even with such a wide footprint, the company must ensure unique, outstanding customer service and provide value to the consumer base. The CEO lacks IT experience and has been hesitant to adopt the suggestions of the store and IT managers, which is to give the company an online presence and advance it into national competition with other consumer electronics stores. The CEO hired a Chief Financial Officer (CFO) and Chief Information Officer/Chief Technology Officer (CIO/CTO). The CFO will oversee the company finances for the expansion. The CIO/CTO will oversee the consolidation of the disparate systems and technologies that exist between the stores, streamline the information gathering and reporting to the main office, and develop an online presence that will catapult the company into a competitive position on a national level. Your job is to help the new CIO/CTO move PFE toward the future.
Phoenix Fine Electronics would like more information about their system options and your recommendation. They are interested in learning how the strengths of the system can be turned into measurable v
Apply: IT Business Partnership Compare and Contrast PFE needs a structured solution to remedy its present situation towards expansion and establishing smaller self-reliant stores. The CEO also has ideas on combining department and customer information to enable PFE to make healthy and suitable business decisions. The essay will furnish the company with relevant information comparing how ERP, CRM, and BI can help the business and recommendations enable it to steer to its mission. Enterprise Resource Planning (ERP) incorporates management of main business procedures, normally in real-time and affected by software and technology. It provides a general outline of business enterprise through the database, organized, and directed by the management system. On the other hand, Pólkowski et al. (2016) explain that Business Intelligence (BI) is the business approach and innovation for data analysis of enterprise information. BI is a forum that demonstrates data in a functional, and right format that is appropriate for each customer in a way that enables them to make an informed decision. There are two classes of BI technology sources, hence, the internal and external sources. Internal sources include data files and databases in the business assets, while external sources include data and information acquired from the internet. Pólkowski et al. (2016) further explain that Customer Relationship Management (CRM) is a process in which an organization manages its association with clients, generally using data analysis to investigate a substantial amount of information. There is always uncertainty among ERP, BI, and CRM; for instance, many people believe that ERP and BI are the same. However, BI is a more sophisticated technology system that, even though it depends on ERP, also depends on the information and data from the back office (Pólkowski et al. 2016). Furthermore, an organization can merge the CRM functions into BI and ERP solutions. The highest and ideal use of CRM and BI systems’ capability needs to enclose them into a central system that promotes a company’s management. Therefore, appropriate management of the central system is an essential element responsible for business success since it is a key feature of an enterprise’s internal information technology infrastructure. PFE has an aspiration of extension into three more neighboring states in the next five years. The organization wants to use the same population numbers to ascertain the number of branches it should open. However, the CEO is concerned about department and customer information, which needs accumulation to enable the company to make healthy and timely decisions. The organization must establish distinctive, excellent customer service and offer quality to the client base. Since PFE is implementing enterprise solutions, it needs to invent a tactical sourcing plan to help them concentrate on future strategies through this uncertainty. Through the establishment of ERP, the company needs to develop a strategic sourcing team with a suitable experience level in different departments. This team would include engineering, supply chain, marketing, sales, and finance. Additionally, PFE should check their plan and develop a projection for organizing IT logistics, bring the company together, and reason tactically. According to Ali & Miller (2017), PFE needs to introduce a long-term emphasis on data management and analysis, with the capability to view data and concentrate on appropriate varieties. PFE’s work plan should be based on different categories, including a view of expenses and prices (Ali & Miller 2017). Besides, the company should ensure that suppliers are accessible while enhancing a relationship with other stakeholders. Finally, appropriate execution of ERP, BI, and CRM systems need to use designed techniques and approaches for the implementation of different stages. Advantages ERP CRM BI/DSS Focused IT Costs Reduced Cost Valuable insights into the business Improved Reporting and Planning Increased customer satisfaction Visualize important information Complete Customization Maximize opportunities Data Mining Standardized Business Processes Highlight poor operational procedures Performance Management Scalability Improved Analytical Data and Reporting Sales intelligence Data Security and Quality Inventory management Forecasting Get a competitive edge Disadvantages ERP CRM BI/DSS Cost of the software Software subscription or purchase fees Data Security is questionable Cost of implementation and maintenance Hardware and software requirements Regulations are evolving for business intelligence Customization Process IT resources needed Multiple BI applications Complexity Customization Different conclusions from the same data Might not see cost savings or benefits right away Staff training and upskilling Blends professional and personal boundaries References Ali, M., & Miller, L. (2017). ERP system implementation in large enterprises–a systematic literature review. Journal of Enterprise Information Management. https://doi.org/10.1108/JEIM-07-2014-0071 Pólkowski, Z. D. Z. I. S. L. A. W., Constantin, D. A. M. I. A. N., Raducu, A. I., & Blidaru, E. W. (2016). The integration of BI, ERP and CRM systems. Zeszyty Naukowe Uczelni Jana Wyżykowskiego. Studia z Nauk Technicznych. Retrieved from http://yadda.icm.edu.pl/baztech/element/bwmeta1.element.baztech-4b53ed4a-036c-424d-abbc-9371921f557a