small business solutions
DESCRIPTION
Small Business Solutions. Jade Lee Elizabeth Ahn Estefi Medina Mike Andrews Esther Blinkoff Vidya Sathyamoorthy Dmitriy Portnyagin Nick Deckard Taylor Schulz Lauren Ficco Max Koehler Akhila Iruku Jeff Lue. Importance of Small Businesses. - PowerPoint PPT PresentationTRANSCRIPT
Jade LeeElizabeth AhnEstefi MedinaMike Andrews
Esther BlinkoffVidya Sathyamoorthy
Dmitriy PortnyaginNick DeckardTaylor SchulzLauren Ficco Max KoehlerAkhila Iruku
Jeff Lue
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“There are approximately 23 million small businesses in the United States, representing more than 99% of all firms...collectively, these firms
generate almost 50% of the sales revenues of all U.S. companies and employ more than half of the private-sector workforce.”
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Lack of…•attention in optimizing
small businesses’ processes
•efficient inventory and retail technologies for small businesses
•customization for select niches
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How can we improve retail management for small businesses in
order to reduce excess inventory, increase profits, and increase overall
efficiency?
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Inventory Control Finance/Accounting Customer
Relationship Management (CRM)
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Customer RelationshipManagement
Accounting/Finance
Inventory Management
•Balance Sheet
•Cash Flow
•Earnings
•Costs
•Efficient Customer Response
•Just-In-Time Inventory (JIT)
•Total Quality Management (TQM)
•Point-Of-Sale (POS)
•Quicker inventory turnover
•Reduce holding costs
•Improve forecast accuracy
•Pinpoint bottlenecks
•Increase customer satisfaction
•Increase cross-selling
•Increase up-selling
•Improve demand forecasting
•Increase revenue
•Cut costs
•Improve margins
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Informal Interviews• International Toy Fair 2009 – New York City• Local small business owners (11)
Consulted Experts• Vinayak Sathyamoorthy – Accenture Analyst• Mike Ficco – Programmer, Author - What Every
Engineer Should Know About Career Management
Posted Website• www.sbsmaryland.com • Beginning stages
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PURPOSE: Focus Research and Find Niche
Topical• Inventory• Finance/Accounting• CRM
Supplemental• Grants• IRB
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Finding a Niche
Search and Apply For Grants
Apply for IRB Approval
Informal Interviews
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Requirements Review Receive IRB Approval
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Finalize Requirements Review
Design Flow Chart
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Programmers Code System
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Pre-Test
Troubleshoot and Modify Program
Accordingly
Implement Prototype for 3-4 Months
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Post-Test Analyze Data
Begin Writing Thesis
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Continue Writing Final Thesis Investigate Market
Opportunities
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Finalize Thesis
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Any Questions?Any Questions?
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