Create a problem Statement
Tutorials-Economics, Accounting, Finance, and Statistics
Concentration and Consideration
January 10 2011.
Kudler Fine Foods
Every time that a business man or woman opens a new enterprise requires dedication and hard work to make the business success. Since the first day when Kathy opened the first store, she has devoted all of her time to her stores, often seven days a week. While Kathy has committed herself to the success of her business and works long hours each day, Kathy is concerned with her lack of available time to interact with ...view middle of the document...
With a current inventory loss of more than 10 percent, understanding the fluctuations in consumer spending will lower inventory loss and increase profits.
The hiring of an employee whose primary focus is on inventory control will enable Kathy to plan for additional in-store promotions on low selling items, customize the inventory for each store based on the local communities surrounding each store, and expand the inventory based on the demands of the consumers.
How to achieve her vision.
The success of a gourmet food store whose primary inventory is fresh produce will depend on the ability of Kathy to predict the needs of the consumers. Kathy currently has many responsibilities which do not provide her adequate time to properly track and analyze sales trends. Kathys vision for Kudler Fine Foods is to continue to grow and expand over the next 10 or more years requiring a dedication to understanding the impact a community has on each individual store. The products popular in one store may not be popular in another store and a lack of track sales will result in an increase in inventory waste and a decrease in store profits. If Kathy hopes to continue to expand Kudler Fine Foods over the next decade, Kathy must delegate the responsibility of inventory management to one who specializes in this area.
Tutorials: Economics, Accounting, Finance and statistics.
In which area do you need to develop a better understanding and what’s your plan to accomplish that better understanding?
After reviewing the four tutorials of Economics, Accounting, Finance, and Business Statistics I have come up with that I really need to review all of these areas because I have been out of school since graduating at the University San Marcos in native country (Peru) and I have been out of the business work place for over nine years. I feel I need a little more help in all this areas to refresh my memory and take my time to review my old notes that am sure that they will goanna help me with this issue . After going over each tutorial in the week number five I had some trouble in the finance and statistic section, some of the question requires time to investigate but is interesting find the answers on the internet or asking for help with my student partners . I really enjoyed the tutorial about economic because they explain clearly how the capitalism help the US Economy and the economy of other countries .
An important tool that I can use to...