Online Customer Lifetime Value Calculator (CLTV), can be used to determine the value of a customer and understand the impact may bring if customers spending pattern has changed. Different decisions for different level of management teams could be made by using CLTV calculator:
Senior Management
- brand positioning decision, targeting the more profitable segments by evaluating the lifetime value and spending patterns.
Middle management
- planning suitable marketing campaign, marketing budget for selected segment,
- making price setting decision, as revenues and profits could be estimated for acquiring or retaining customers.
2.
After studying the OpenBravo ERP demo, different modules within the ERP could handle the following steps within the Order-to-Cash business process.
a) Accept/ Enter Order
Order details will be recorded in the "Sales Order" module of Sales Management and the "Sales Dimension Report" and "Sales Order" Report of Sales Management could reflect the volumn of Order taken.
b) Order Acknowledgement
c) Purchase Materials
After taken the order, the organization should create the PO for purchasing materials from suppliers and record the details under the "Purchase Order" module under the Procurement Management, and Purchase Order Report could be generated for review.
d) Receive Materials
"Purchase Invoice" and "Goods Receipt" modules of Procurement Management capture the details for materials received and Material Receipt Report shows the figure of material received.
e) Production
The "Process Plan", "Work Requirement", "Work Effort", "Periodic Quality Control Data", "Maintenance Plan" modules under Production management could be used to record and calculate the materials for production. The cost of the production, both the fix cost and total costs could be calculated from the "Calculate Standard Cost" and "Calculate Product Cost"respectively. Related status reports, costs reports, requirements reports could be generated under the analysis tools of Production Management as well. After production, the Warehouse Management could help maintaining the inventory record.
f) Packing
Packing requirement could be logged under the "Work Requirement" module under Production Management.
g) Shipping
Shipping record can be recorded in the "Goods shipment" module of Sales Management, and Shipment Report and Shippment dimension Report could be generated from under Sales Management and also will be refected under each order taken under "Sales Order" module of Sales Management.
h) Invoicing and collection
Invoice will be generated from "Sales Invoice" module of Sales Management. Reports such as "Payment tracker", "Payment Report" or "Payment aging report" of Financial Management Module could reflect the status of invoicing and collection.
3.
Operation team has to coordinate from start to finish of the Order-to-cash Process, first they have to valid check the order taken by sales team and acknowledge the order, afterwards they have to make necessary plans for materials procurement for production. With the requirements provided, they have to send request for productions, once the goods are produced, stocking / inventory and shipping orders have to be sent to specific department for further process. As well as coordinating with the finance team for the invoicing and collection process, they should streamline the whole process which is profit making. On the other hand, they should have reviewed the process from time to time, in order to sustain a certain level of cost and time efficiency.
With the ERP system, all data are reflected on the same platform which helps them to check and monitor the whole process in a more easy, unique and efficient way. Together with the analysis report provided, back and forth processes could be avoid, meanwhile, the costing and forecasting reports could help planning and streamline the whole process.
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Excellent and comprehensive answer !!!
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