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Business Cycle

In: Business and Management

Submitted By wallytam80
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Revenue Cycle
Sales order entry
The revenue cycle begins with the sales order entry. Web sites provide a way to automate sales order entry. This improves efficiency and reduce cost by company can employ fewer staff. Another way to improve the sales order entry process involves using electronic data interchange (EDI) to link directly with customers. With EDI, retail stores would send their orders directly to sales order system; it can reduce the need for data entry. Retailers can save money; manufacturers can have more accurate sales forecasts to operate production and delivery schedules.
Shipping
When stock has been determined, the system will create a picking ticket which lists the items, and quantities of each item that the customer ordered. The picking tickets are electronic forms which displayed on portable handheld devices or on monitors built into forklifts. The picking ticket printed by sales order entry triggers the pick and pack process. An automated warehouse system has computers, bar-code scanners, and communications technology. When replacing the bar-code with RFID tag reduce the need to align items with scanners; the tags can be read as the stock moves throughout the warehouse. Automated warehouse systems beside cut cost and improve efficiency in handling stock; it can also enable more customer-responsive shipments. After counts the goods form warehouse, it produces a packing slip and bill of lading. In order to maximize the efficiency and effectiveness of shipping function, an organization must include logistics software. RFID systems can provide real time information on shipping status and provide additional value to customers.
Billing
Sales invoice can tell customers the amount to be paid and where to send payment. Sending invoices with EDI is faster and cheaper than mailing paper document. Company also can let customers access to a Web site to…...

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