Poor Performance Data Consolidation between Two Vendors Based in Texas and Massachusetts - Case Study Example

Title: CASE STUDY ON POOR PERFORMANCE DATA CONSOLIDATION BETWEEN TWO VENDORS BASED IN TEXAS AND MASSACHUSETTS RESPECTIVELY, A GUIDE TO THE SOLUTION IN CONJUNCTION TO QUALITY ASSURANCE PROCESS By: Institution: Course: Instructor: Date INTRODUCTION: Definition of terms; Quality assurance is a designed method organized to avoid ‘mistakes or errors that manufactured products may have and the problems during the service and solution delivery to clients. It is based on physical products before production for certification or assurance of quality controls. Quality assurance is also an authoritative, strategic and orderly activity implemented for quality system in order for the objectives and a goal the product or service may require is achieved. Business Intelligence Strategy is a guideline rendered to for performance measurements in the business with a comprehensive outlined competitive advantages and humble attention to clients with the use of data mining and statistics. ABOUT THE CASE The study give information realized through quality assurance and business intelligence strategy regarding a large financial service firm and its two external vendors based in Texas and Massachusetts respectively. The two vendors were engaged to develop and deliver a new performance reporting product for financial correspondents, a problem occurred. There was poor information delivery with one vendor who was subjected to consolidate and send email to financial correspondents’ but ends up sending them to wrong audiences. This report, therefore, ensures maximum attention to the service and product delivery process on the electronic data consolidation process, the problems realized during the process, why there were such problems, reasons for such problems, how and why there was poor communication, and will provide elaborate explanations, solutions and alternatives that would ensure smooth running of the process in the product, service and information transfers. It also asserts comments to the three partners with concrete recommendations of the expected so that a win-win business relationship is progressively achieved. STATEMENT OF PROBLEM Poor Electronic data consolidation process in the printers on the individual investor’s performance against established financial benchmarks. This led to inaccurate data consolidation process, improper charts appearances and incorrect correspondents of the printed and mailed individual investor reports. A case due to geographical location, one investor in Texas and another in Massachusetts. The printer was to coordinate analyze the procedural performance of the vendors and mail them to Financial service correspondents. OBJECTIVES: Main; Quality assurance process in conjunction to business intelligence strategy was developed to improve and make a comprehensive end to end technique that would ensure the development of an accurate individual performance reports, and a correct investor report mailed to the appropriate correspondent. Others; To build a firm coordination to both the vendors on a daily basis so that they could asses root causes of quality problems and improve from their processes. To regularly allow open communication cycle that will ensure instant information delivery and response, swift progression. To redesign the process of communication to enable for efficient transaction procedures and service deliveries. AREAS OF CONSIDERATION Mutual dependency of the vendors. The vendors should mutually depend on one another for the effectives of the data consolidation process, and efficiency in communication. Dependency is mandatory for a success to be realized in any transaction involving more than on party. Lack of this bars the smooth transmission of the data, exposing them to poor performance. Geographical location. The two vendors being of different location their positions must be outline to help know some natural factors that may lead to misappropriation of data and information. For example network problems. Knowing the geography makes it easier for accessibility if the stated technique fails and urgency is needed. Time span for performance data consolidation This should be short for convenient and easier assessments. Having a long time span involves a lot of data which can be confusing, and if sent to a wrong person may be a big loss. Number of Correspondents An accurate performance with smooth flow is that with fewer correspondents as this create easier access. Many correspondents can be hectic to deal with especially where urgency is required and no stated rules to govern them. ALTERNATIVE COURSE ACTION 1. Purchase and use of new and modern technologies. 2. Setting up quarterly training programme 3. Setting up follow up in the mailing 4. Set up a team structure 5. Reduce the number of correspondents ANALYSIS OF EACH ALTERNATIVE COURSES OF ACTION 1. Purchase and use of new and modern gargets; new brooms sweeps clean therefore to new machines, little errors are realized in new ones as compared to old ones but alternatively others such as computers and higher power mobile phone e.g. I-phones can be used in substitute of printers for accuracy and reliability. 2. Setting up a follow up of mails; this can be done through use of high speed tracker that can retrieve the mails sent to wrong audiences. Follow assures that right people receive right mails and that and need of action can do within the stated course of time. 3. Setting up annual training programme; the vendors should be subject to proper annual training in sensitive areas, especially in the data consolidation process, the use of new and high speed machines in the firm. Training also exposes those (vendors) to new ideas that may substitute old ones for the better of the organization. 4. Reduced correspondent The smaller the number of audience the easier and efficient the coordination. Being that only one vendor is subject to mailing one hundred correspondents and a lot of errors be realized, putting them in groups or phase can work it out. For in phases e.g. Phase 1, Phase 2 up to a convenient number that can be easier to do with for accuracy. 5. Set up of a team structure Operation sharing; for example both the vendors to come as a team to consolidate their performance data explicitly, create a central point of comparison and adjustments before mailing the correspondents. Mailing should also in a defined ratio to avoid over working one vendor, the cause of poor correspondents. CONCLUSION: It is obvious that the aim of many financial organizations, partners, parastatals and even business ventures is make win-win relationship with their customers for maximum profit generation. This is evident in how they organize their flows of events, transactions and information delivery from one source to another in conjunction to their goals. Poor performance data consolidation and use of inefficient machines with people of little knowledge but to serve numerous clients may hinder the business progress thus its failure. Alternatives are therefore mandatory to awaken the diminishing organization for example purchase of new gargets or a replacement with another which can work more efficiently, creation of team structure where work is shared rationally, regularization of number of correspondents through organized annual training programme where this can be learnt. RECOMMENDATION I recommend for the situation that for a permanent and proper flow of information and a maintained win-win business relationship to the financial correspondents a new machine or machines should be purchased or their alternatives e.g. high speed computers and phones which are available in both the local and international shops be bought. This will be followed by qualified personnel to manage them whose chores distribution is well balanced to avoid overworking one. During the annual training programme, individuals from either vendor should be exposed to the new technologies with little provision of basic knowledge of how to operate them. Correspondents are also to be presented with these gargets to ensure efficiency. In terms of geography the two vendors should be accessible both through mails or physically where the information may be sent by road, water or air. A same case to correspondents. Bibliography COHEN, C. (2013). Business Intelligence the Effectiveness of Strategic Intelligence and Its Impact on the Performance of Organizations. London, Wiley. http://www.123library.org/book_details/?id=94026. Read More