The first strategic goal in Ted’s business is financial growth. Ted is trying to achieve financial growth by juggling between the different economic aspects in his line of business, for example, Ted closes his store in Bethesda, MD and also lets off his general manager in order to reduce expenses, Ted works in his stores two days a week and he is capitalizing on rentals and repairs which he thinks he has no internet competition. The second strategic goal is current/constituent objective. Ted starts his business with a single store and expands his business to six stores in order to increase his customer base; he also advertises his products in local papers and also has a website. Ted considers his customers preference and choice by having a wide array of different bikes. Ted has a customer retention tactic in which he offers customers quality bikes, and he has high-end and low-end bikes. The third strategic goal is internal/Operations strategic objectives. This objective strives on increasing location, capacity and internal efficiencies. Old Dominion Trail Bikes has six locations where it carries its business. Ted has fifteen employees and temporarily hires more when the workload increases, and he handles the general management tasks himself.
Ted needs to run the following categories of information; executive support system, management information system, decisions support systems, knowledge management systems and transaction processing systems (Edalat & Smyth, 1991). An Executive Support System (“ESS”) is intended to help senior administration settle on key choices. It assembles and analyzes the key external and internal data utilized as a part of the business. Management information system (MIS) is essentially concerned with inside sources of data. MIS normally take information from the transaction processing system and outline it into a progression of administration reports.
MIS reports have a tendency of being used by operational supervisors. Decisions supports systems (DSS) are particularly intended to help management settle on choices in circumstances where there is vulnerability about the conceivable results of those choices. DSS contain instruments and strategies to help assemble applicable data and investigate the alternatives and options. Knowledge management systems exist to help organizations make and offer data. These are normally utilized as a part of a business where representatives make new information and skill – which can then be shared by other individuals in the association to make further business opportunities. Transaction processing systems (TPS) are intended to process routine transactions effectively and precisely. A business will have a few TPS; for instance: Billing frameworks to send receipts to clients. The various types of information can help Ted in having efficient operations, having proper records, proper decision-making and communicate effectively with his employees, customers, and suppliers.
The three main business processes in Old Dominion Trail Bikes are management processes, operational processes and support processes. The management processes govern Old Dominion Trail Bikes operations, and Ted achieves this by trying to increase his customer base through quality service, offering a wide range of bike products and opening new stores. The operational processes involve taking orders from customers, selling, repairs and rentals for bikes. The support processes involve services that help run the business e.g. Ted advertises in local papers and websites and offers technical support by providing periodic maintenance to the bikes he sells to his clients. Technology can be used in the business through the extension of current IT systems, having a business process management solution with a business process automation extension and having a specialist business process automation tool. Technology helps in mechanizing business processes with a specific end goal to contain costs. It comprises of coordinating applications, rebuilding work assets and utilizing programming applications all through the business.
One of the ways that Old Dominion Trail Bikes is can make the internet work in their way is through having a subscription website. The subscription model allows potential clients to subscribe in a website and get information about an organization’s product. The use of E-mail is significant in communicating with clients. The main advantage of an E-mail is that a client can get detailed information about their queries. The use of E-mail entails a business to consumer model where a business sells the product directly to the end user. Ted can use the E-mail to sell his products directly to his consumers.
An effective supply chain management system can help Old Dominion Trail Bikes in four main ways. Ted can provide quality assurance to his clients by having a consistent supply of quality and cost-effective bikes which suits his clients’ tastes. Old Dominion Trail Bikes has various customers with different tastes and spending abilities, with an effective SPM, the organization can provide bike buffer levels by being flexible to meet the clients’ demands and at the same time minimizing the holding costs (Chopra & Menidl, 2007). Ted is facing a steep competition from the internet when it comes to bike sales, and thus an effective SPM will help readjust his supplies in order to meet the demands of his clients. Lastly, the SPM will help him mitigate risks by identifying the risks e.g. competitors and quality, and dealing with them effectively.
Ted can use the technology in three main ways to increase his rentals and repairs. Firstly, he should consider using cloud, famous distributed storage administrations like Google Drive store your records and information online, keeping data secure and giving you a chance to get to documents anyplace. Ted can use this to offer documents or pictures that are too enormous to email. Secondly, Ted should market through the social media. As his business depends on local customers, the use of social network apparatus Foursquare can drive traffic at his doorstep. Thirdly, Ted can enhance customer service by answering the most asked queries through his voice mail and business website, this can include things like location, operation hours and charges.
Implementation of an Enterprise Resource Planning can help in increased access to profitable corporate information conveys and to have a worldwide perspective of the business that drives persistent change systems and builds regular execution measurements and measures to gauge the strength of the business. According to Shanks (2003) ERP should help in procurement methodologies and drive arrangement to client requests, furthermore convey a concentrated purchasing model to reduce unapproved and pointless costs. Lastly, implementation of an ERP assists in computerizing business procedures, for example, invoicing and deals and inside one framework enhances determining precision and decreases inefficiencies. In implementing an ERP, Ted should consider working with a business programming supplier that can execute frameworks that are adaptable and versatile; this guarantees that the business is in control of its business-basic undertaking applications and information, notwithstanding continually changing authoritative necessities. Another consideration would be to work with an organization that can offer expertise dealing with that product day and night. Outrages can happen at any minute, so you require a group that is accessible 24/7. Working with a trusted facilitating supplier is the only way to ensure that you will have 24/7 backing.
The quickest pointer of an effective ERP is having gotten the new framework up and running without closing the organization down or seriously impeding operations. Ted can see whether the framework is working or not. You may not accomplish everything completely, but it may cutover glitches, and cost and time overruns. Another pointer is quantifiable advantages are constantly unmistakable. Be that as it may, not every unmistakable advantage is promptly quantifiable. For instance, ERP frameworks can give workers more and better data for doing their job. That will help them improve with better communication and minimal errors. The decrease in errors is both unmistakable and quantifiable. An ERP system should bring generalized improvements such as more repeat sales, good public image, high customer retention and better sales conversion rates.
The most important thing that Ted should consider while venturing in his IT projects is a reputable supplier(s). Because he does not have prior knowledge of these technological systems, he needs a supplier who will provide him quality services. Ted should measure if the IT systems being installed or implemented are cost effective because the whole point is to minimize cost, increase efficiency and increase the sales. Ted has to consider the organizational structure of Old Dominion Trail bikes so that the new systems can blend in without any inconsistencies. Old Dominion Trail bikes should have a change management plan to guide and direct them through as this new systems are being implemented, this will ensure that the employees welfare is taken care of and all the relevant stakeholders. Lastly, Ted should employ an IT expert to oversee the smooth transition, manage, and control, and ensure they are properly operated since he is not an IT expert himself.