The Financial Accuracy Of 'New Hike'
The financial accuracy is 90.4% witch is a difference of $ 23,000,000. The inventory accuracy for New Coke is 75%. The accuracy for Diet Coke is 100%. And finally the accuracy for Coke classic is 50%. With an average total actual inventory accuracy of 75% and a financial accuracy of 90.4% I would not consider this to be at the level of accuracy described in the book which states that “most agree that an ongoing accuracy level in the very high 90 percentile range is required in order to maintain confidence in the accuracy of the information” (Chapman 112).
The reasons for the difference in the accounting vs the actual amount of inventory could be the result of the several things. One of the main reasons could be that some of the inventory that
was intended to be used for Coca-Cola Classic was instead used for either Diet Coke or New Coke and the used of these ingredients was not recorded. This would account for the inconsistency in this case.
To avoid future mistakes of this type of problem we must implement a new computer controlled inventory system that tracks what goods are on hand and which goods have been used. This would provide us with real time information about our current inventory levels and this in turn will give is the ability to make better decisions about the amount of supplies that need to ordered and the amount of our product that we can currently produce.
When contacting the supermarket to inform them of the mistake I would explain to them I could only deliver them 2 batches of Coca-Cola classic. I would then continue by apologizing profusely and immediately return the amount of money that they were overcharged because of the incident. Finally, I would make it clear to them that we were taking steps to make sure that an incident such as this does not happen again.
The reasons for the difference in the accounting vs the actual amount of inventory could be the result of the several things. One of the main reasons could be that some of the inventory that
was intended to be used for Coca-Cola Classic was instead used for either Diet Coke or New Coke and the used of these ingredients was not recorded. This would account for the inconsistency in this case.
To avoid future mistakes of this type of problem we must implement a new computer controlled inventory system that tracks what goods are on hand and which goods have been used. This would provide us with real time information about our current inventory levels and this in turn will give is the ability to make better decisions about the amount of supplies that need to ordered and the amount of our product that we can currently produce.
When contacting the supermarket to inform them of the mistake I would explain to them I could only deliver them 2 batches of Coca-Cola classic. I would then continue by apologizing profusely and immediately return the amount of money that they were overcharged because of the incident. Finally, I would make it clear to them that we were taking steps to make sure that an incident such as this does not happen again.