Ch 14 sales and operations planning

Sales and operations planning (S&OP) A process for coordinating supply and demand. Aggregate refers to? Sales and operations planning for product lines or families. For services, capacity is often limited by? Space Ex: hotel room, Seats on an airplane. What are the two objectives to sales and operations planning? 1. To establish a company-wide game […]

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Chapter 10 Sales

Review of the Sales Cycle Prospecting Preapproach Approach Needs Discovery Presentation Handling Objections Closing the Sale Customer Service After the Sale Needs Discovery (Identifying Needs) Selecting possible solution(s) Asking Questions Listening Probing Need discovery is more important than any other step in the sales cycle Plan your questions in sequence to gain information in a […]

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Chapter 20: The formation of sales and lease contracts

Contracts for the sale or lease of goods is governed by . . . Statutory law and the UCC article 2 of UCC sets forth requirements for sales contracts or the sales of goods Article 2A covers issues for lease contracts Sale and Goods To constitute as a sale it is passing of title from […]

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Sales Management Quiz 1

Customer Centric placing the customer first in everything inside and outside the firm. Customer Orientation is done by having a customer centric firm. Involves three things (1) Understanding your customer requirements (2) Getting knowledge from the marketplace and disseminating to employees within the firm (3) Align system capabilities internally so the organization responds with satisfaction […]

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Sales & Operations Planning

A process to develop tactical plans by integrating marketing plans for new and existing products with the management of the supply chain; brings together all the plans for the business into one set of integrated plans. Sales & Operations Planning Sales and operations planning is a _____________ plan, residing between the detailed and strategic. tactical […]

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Business Law Chapter 15: Formation and Performance of Sales and Lease Contracts

Significance of UCC clarifies sales law and makes this area of law more predictable to businesses that engage in transactions in more than one state Article 2 focuses on contracts for the sale of goods Article 2(A) focuses on contracts for the lease of goods 3 categories that can be bought and sold according to […]

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Chapter 1 Sales

professional selling direct to consumer -business to business -trade selling (selling to retailers) or can be called business to business selling =this is “where the money is at” Transactional selling -Retail -Inside sales (order taking) (this is where you get your “feet wet” or trial period) -Some non-human Sales Profession Fact: estimated 16.4 million people […]

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Chapter 15: Closing the Sale

closing the sale obtaining an agreement to buy from the customer buying signals things customers do or say to indicate a readiness to buy trial close an initial effort to close a sale which close encourages a customer to make a decision between two items standing-room-only close used when product is in short supply or […]

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Sales – Effects of a Contract of Sale

Contract of Sales – Two Main Effects 1. Transfer of Ownership of the thing sold from seller to buyer 2. Transfer of Risk of loss of the thing from seller to buyer Sellers Obligations (3) i. *Delivery* ii. *Warranty Against Eviction.* iii. *Warranty Against Redhibitory Defects.* Buyer’s Obligation (2) i. *Pay the Price Sold* ii. […]

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6.01 Understand sales and consumer law

Auction Buyer bids on item Barter exchange of goods. Bulk Transfer All or a major part of a business is sold. Cash and Carry Sales Pay cash and take immediate delivery COD Sales Collect on delivery Delivery Buyer possesses or has control of the item Existing Goods Goods that physically exist and are owned by […]

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Chapter 16 Sales of Personal Property Ashcroft Law for Business

Goods Movable personal property. Movable Personal Property All physical items except real estate. Property Subject to Sale A sales contract that does not meet the requirements of the UCC is unenforceable, if both parties-the buyer and the seller-choose to abide by its terms even if they are not legally bound, neither one can later avoid […]

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Pro Sales Midterm- Fifield

EAT Encourage Accountable (Hold) Train Begin with… The end in mind People hate being…. but love… sold, buying Business is all about successfully building and maintaining: Relationships Who is the most important person in your life? Self The 3 keys to personal selling are the right ____, the right ______, the right ______ Mindset, skill-set, […]

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Accounting for sales and sales returns (Chapter 4)

Sales The sale of goods in which the business trades Sales returns When goods previously sold on credit are returned to the business by it’s customers. Sales ledger A subsidiary ledger to general ledger, and contains the accounts of the trade receivables Financial documents Source documents for the accounting records Books of prime entry The […]

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Sales Training

Steps in Sales Process 1. Prospecting 2. Preapproach 3. Approach 4. Needs Discovery 5. Presentation 6. Handling Objections 7. Close the Sale 8. Post-Sale Customer Service Approach First initial contact with prospect (Potential Customer) **Not always face-face contact Approach Objectives 1. Make a good first impression 2. Secure Attention 3. Develop Interest 4. Establish Credibility […]

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AIS Chapter 9

Which function or department records a sale in the sales journal? A. Warehouse B. Sales department C. Billing department D. Inventory control Billing department Which functions should be segregated? A. Picking goods from the warehouse shelves and updating the inventory subsidiary ledger B. Authorized credit and determining reorder quantities C. Billing customers and posting the […]

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Accounting Lecture February 22: Bad Debt

Companies accept credit cards for several reasons -To increase sales When customers purchase on open account, they may be offered a sales discount to encourage early payment 2/10, n/30 2% discount 10 days in discount period n (net total sales less returns) 30 is the maximum credit period of 30 days Read as “Two, ten, […]

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Business Law Chapter 13 Sales Law: Terms, Formation, Obligations, and Titles

A simple definition of a “good” is movable, tangible property A good not yet manufactured is called A future good A contract to sell involves future transaction In performance of a contract, good faith: 1. Means honesty in fact 2. if lacking, breaches the contract A merchant: 1. Deals in goods of the kind 2. […]

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Chapter 14: Sales

Goods Any moveable physical object. Merchant Someone who routinely deals in the particular goods involved. UCC Statute of Frauds The UCC requires a writing for any sales of goods priced $500 or more. Additional Terms Raise issues not covered in the offer. Different Terms Contradict those in the offer. Gap-Fillers UCC rules for supplying missing […]

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F2: Accounting for Installment Sales

When is the Installment Method of Revenue Recognition used? The installment method of revenue recognition is used when there is no reasonable basis for estimating the degree of collectivility. Under the installment method, when is revenue recognized? Under installment accounting, revenue is not recognized at the time a sale is made, but rather when cash […]

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Chapter 1 Selling and Sales People

Personal Selling phenomenon of human-driven interaction between and within individuals/organizations in order to bring about economic exchange within a value-creation context value total benefit that the seller’s products and services provide to the buyer customer value proposition (CVP) collection of biter-specific benefits go-to-market strategies companies’ options in how they approach customers as they add value […]

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Accounting Exam #1

breakeven units formula method unit sales to break even = fixed expenses/unit CM breakeven units equation method profit = unit CM x Q – FE (the profit is 0) breakeven sales dollars formula method dollar sales to break even = fixed expenses/CM ratio breakeven sales dollars equation method profit = CM ratio x sales – […]

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