BMD0003 Intelligent Business Information Systems Assignment Sample 2024
1. Question 1
Trade-offs
In a company for each activity, the given normal and crash duration has become a well-known problem throughout a critical path analysis. Corresponding costs and a minimum scheduled budget have to be determined for all possible durations of the project. In order to cope with this critical issue, a minimum capacity cut-set is constructed initially and through minimum cost network flow iteratively an optimal solution can be found (Mahmud, 2017).
A well-conceived product is considered worthless if it cannot be available to the customers at the right time under the right conditions along with the right information (Yontar, 2019). In this trade-off report, the network is an optimal solution that will be analysed in order to get a clear picture of how cost or time trade-off works.
Some assumptions are to be made at the beginning of the discussion such as time can be manipulated with money and thus each activity deadline can be willingly reduced within limits. The CPM technique has been used here for cost information. A common view on the completion time of each activity is linearly proportional to each activity cost.
In the above flow chart, the Y-axis represents Activity cost where the X-axis represents each Activity completion time. ‘Crashing’ is known as the process of reducing the activity completion time.
- Crashing: In order to understand this process, let’s assume two critical paths X-Y-Z and A-B-C in a network. Since activity X has the lowest incremental cost, it will not affect the critical path A-Y-Z (Grube & Wynn, 2019). Thus, in respect of activity X, overall project completion time will not be affected. In order to reduce the completion time for the entire project, one activity needs to be crashed on the A-Y-Z path. In this critical analysis scenario, we can consider these three options:
- Crash both A and X by one-time unit.
- Crash Y by one-time unit.
- Crash Z by one-time unit.
Here is more than one critical path that makes the situation more complicated. Through a more technical approach, the activity with the lowest incremental cost is chosen among the paths. This would be a guaranteed optimal approach towards crashing.
- Positive aspects of trade-offs: Trade-offs can be a source of transformation and creativity as well as innovation for an organization. Companies develop critical strategies just to cope with the tensions created by tradeoffs (Haddara, 2018). Social responsibilities can be developed within an organization through this as it was seen in globally established companies like Walmart and Nike. In order to handle the stakeholders, Nike came up with less toxic glue and more environmentally friendly materials in the production of its shoes. Walmart made some changes in their packaging, reducing waste and focusing on more environmentally friendly shipping (Elbahri et al.2019).
Often trade-offs make the stakeholders the source of innovation for the organization. In order to understand the customer’s expectations of the product, critical analysis techniques are applied (Grube & Wynn, 2019). Thus, the company can utilize the stakeholders to expand the business more rapidly. Moreover, globally many organizations made changes in their businesses both internally and externally, which was predominantly supported by their stakeholders. Innovation and creativity can be implemented indirectly through trade-offs in a business in order for a sustainable long-term goal.
- Introducing tradeoffs incorporate portfolio decisions: Organization managers always focus on the businesses they should not own and stick with those businesses they should quit. It is a complicated situation for the managers to think repeatedly on this part just to cope with these situations using effective techniques through making some tough decisions. If a business is willing to sell its products for more than its actual worth, there are fewer reasons left to buy the product on behalf of a customer (Brownet al. 2018).
- Classification of trade-offs: Here are several recommendations on tradeoff practices that have been done by many organization managers in order to navigate the hierarchy through effective decision making (Hosseiniet al. 2018). This results in transforming the trade-offs into synergies. Corporate sustainability (CS) associated with CSR is used in order to gain sustainability. CS often is used interchangeably with CSR. The environmental performance or social performance (EP/SP) forms a binary perspective on trade-offs by conflicting with the financial performance (FP). In order to view it to a lesser extent, environmental performance (EP) can be conflicted with Social performance (SP).
Challenges to an enterprise-level analytics solution
Challenges have been faced by many organizations in order to stay in the market competition worldwide. Here some of those major challenges are discussed in the following:
- Business strategy: Strategies become essential in order for setting up a business with sustainability. An effective business strategy evolves with time and situations aiming to seek out a profit with each business strategy application. The effectiveness of a strategy is judged by giving a suitable shape to the corresponding systems and processes. This strategy is applied with the help of business process management that involves various methods of discovering, modelling, analysing, measuring, improving, optimizing, and forming an automatic business process (Younous et al.2018). The successful completion of this process puts an impact on both external and internal communication as well as the morale of the organization.
- Lacking a clear vision: A long-term goal with a clear vision is required in a business that thrives to hold its position in the competitive market. The mission, as well as the vision of a business, is set by studying the market thoroughly. Successful managers decide to choose the right path by keeping the vision always in mind otherwise the procedure gets dull to understand and finally it affects the business in a negative way. In order to find an analytical solution to an internal issue, managers need to be assured of having a clear vision for sustainable business expansion (Armand & Roger, 2017).
- Congested market volume: Every business in the current market scenario wants to rise and shine. Thus, the market competition gets heavy each day making it difficult for the existing organizations to form a standalone giant in the ‘red ocean’ of businesses.
- Rapid development: The current ‘red ocean’ market compels industries to adopt new changes each time and often transforms several internal or external structures within the business (Umaret al. 2018). Moreover, it is a matter of capital and time in order to have a major change in the infrastructure or system. In-Depth knowledge of current market scenarios also assists this transformation in multiple ways. It can show up as a challenge when the studies are not done thoroughly along with ineffective planning.
- Relying on day-to-day operations only: Start-ups and many small-cap businesses face this challenge as they solely depend on the founding team. Managers in those organizations focus on day-to-day operations only and thus the workforce only can pursue daily achievements. In the contemporary competitive market, automation has become a common factor for many top-listed industries where only relying on day-to-day operational management can be a major issue for sustainable growth for many organizations (Khatoun & Zeadally, 2017).
- Failed operation management: The competitive market has put a significant effect on many factors like product values and qualities. Many start-ups accelerate their businesses by increasing their productivity but at the same time, they do not focus on product quality. This has been a huge issue for industries like that one that needs to do a significant change in their operation management. Customers demand a good quality product that also costs less comparatively. It often becomes so challenging for SMEs to cope with this particular situation and meet the customer’s requirements.
- Building a brand: Marketing strategies require knowledge as well as experience in order to build a successful brand for a company. Years and years of market analysis and resources as well determine the marketing strategies to be adopted. Successful marketing strategy requires an efficient measurement of the marketing initiative and also a proper allocation of resources (Vișnevschi, 2020).
Case study: Nationwide Mutual Insurance has become one of the largest insurances and financial services companies in the United States that generate $23 billion in revenues. It has already built a brand image that only requires proper maintenance. The company provides mainly intangible services that are solely based on the customer’s trust in the organization. The organization’s business units worked independently with a lot of autonomy. This actually led to the duplication of many processes pursued by the organization. Rapid implementation of innovation and creativity in the business will be helpful in order to cope with these kinds of issues.
The intangible services of the company can be enhanced by maintaining an excellent relationship with the customers utilizing multiple effective after-sales strategies. The company can issue multiple offers for the newcomers in order to form a sustainable brand image. Nationwide Mutual Insurance can also invest in marketing and to do this, the company needs to allocate sufficient resources and also analyse the current market scenario critically. Implementation of automation techniques in digital marketing would be a great approach. Thus, by forming a sustainable brand image the insurance company can outpace its competitors by satisfactory margins.
2. Question 2
The architecture of Master Data
Most business intelligence (BI) projects fail due to data quality issues. In many other cases, the issues reported on behalf of the customers are not taken seriously that directly leads to the delay or postponement of a project. Diving deep into the data-related issues, Master Data represents those sensitive data upon which the business transaction is made initially. The major analysis afterward is also conducted using these data. The architecture of Master Data Management (MDM) is classified into three separate architecture models such as:
- Registry architecture: This type of architecture model only allows to read the master data. Modifications cannot be made in this architecture as it only provides a read-only view. The registry architecture is only a hollow piece of the core MDM system and this makes the data inconsistent or incomplete compared to all the attributes in the MDM system (Shaghaghi et al.2020). This particular architecture is usually quick to deploy and can be operated maintaining a lower cost, especially for the downstream systems. It is useful to provide a consistent access path to the master data and also remove duplicates.
- Hybrid architecture: This type of architecture is capable of fully materializing all the master data attributes in the MDM system. The cost to deploy this architecture is high as all master data attributes are harmonized, cleansed, and loaded into the MDM system (Ahmadet al. 2017). This architecture is way better than the previously described registry architecture and to justify this, many pros can be stated. The data quality is improved with this architecture. The data consist of all the attributes which makes it more sensitive and important. It can be accessed quickly and workflows in order to collaborate authoring of master data can be deployed much easier making it costlier than other available architectures.
- Repository architecture: This architecture helps process the master data in a more consistent, accurate, and complete way. The MDM system allows both read and write operations on the master data with this architecture resulting in an outcome of absolute consistency on master data. The processing delay is also not found in this repository architecture.
Component of SAP ERP
SAP ERP is made up of several modules such as financial accounting, asset accounting, sales and distribution, and many others. Other than these production planning as well as quality management is another fact that imports positive effects in business regulation and development in business environments (Ashibani & Mahmoud, 2017). Warehouse management and Material management are related to the SAP ERP system that in turn helps in logistic execution in detail. All the factors are explained below to deliver their importance on liability and regulation of business fact in a better way.
- Accounting: SAP ERP technique is a suitable aspect for making business more developed as well as feasibility in a financial scheme can be possible in a correct manner. This process has helped to provide a clear view of business and accountability of all financial data that can be acquired without any error. As a result, easy accessibility for all systems can be achieved and future errors regarding money can be minimized in a potential manner. Moreover, it provides a suitable monitoring process with high demand ability and technical feasibility can be acquired in a better manner.
- Production planning: Planning for the production of a particular company is necessary as it helps to provide a better impact on customer satisfaction and innovation in business can be possible. Modern technique is required to be incorporated by global firms as it helps to ensure better profitability (Piętowska-Laska, 2019). From the case study, it can be revealed that future stability in business processes is necessary for making it better and development in production can help to do so.
- Quality management: SAP ERP provides better assurance for product quality management and this, in turn, can develop a strategic view of the organization, and the resolution of business can be diversified (Piętowska-Laska, 2019). High-quality products are acceptable by all and it is beneficial for making aspects of business strategically fit in a competitive environment.
- Plant maintenance: Maintenance of plant can be considered as a major component of SAP ERP as it helps to provide a broad spectrum to satisfy all the stakeholders. Besides that, accessibility of organizational data becomes high and this provides better facts about business stability. Important cost maintenance schemes can also be achieved in a proper manner.
- Logistic execution: Components related to SAP ERP are the execution of logistic management and it is beneficial to make business better by communicating with customers. In this scheme of business system, supply of products is important and it provides better facts for schematic changes of people management (Sallemet al. 2017). Evaluation of business space can be possible as well as gaining of profit is another fact to be considered.
Importance of SAP ERP in sales and distribution
SAP Sales and distribution are one of those responsible components in the SAP ERP system that is used to manage shipping, billing, selling, and transportation of the products as well as services of the organization (Ribeiro & Björkman, 2017). The importance of the SAP ERP in SD is described as follows:
- Master Data Management: The SD master data consists of both material and customer data and also records of pricing conditions as well as credit management data. All transaction-related data can be found in this MDM system.
- Sales: Customer, as well as product details, are managed and analysed through this module. Moreover, details of pricing, stakeholder feedback, and also sales progress report can be tracked (Ribeiro & Björkman, 2017).
- Shipping: A successful completion of sales is linked with the distribution part performed on behalf of the organization. The data regarding product shipping can also be tracked through this module and thus each and every shipment detail can be processed further.
- After-sales services: In order to provide after-sales support, the organization needs to maintain a positive relationship with the customer offering them excellent customer support service. All the data exchanged between the customers and the support team are collected and documented through this model (Ribeiro & Björkman, 2017).
- Billing: The records of each billing are documented using this model in detail as it is considered a crucial part of the sales.
- Global trade: Data related to both the imported and exported products are collected and documented using this model.
References
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