Small Business Solutions
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Transcript of Small Business Solutions
![Page 1: Small Business Solutions](https://reader036.fdocuments.net/reader036/viewer/2022070400/56813532550346895d9c9a45/html5/thumbnails/1.jpg)
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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