Question one, Snyder’s of Hanover
Snyder's of Hanover had a big problem of managing and analyzing financial data. Although Snyder's sells more than 80 million bags of pretzels, chips, and organic snack items each year, its core systems of collecting data were entered manually and written down. Snyder's financial department was collecting spreadsheets from all departments to bring the financial analyst together.
Their financial analyst would spend the entire final week of each month collecting the spreadsheets from the heads of more than 50 departments worldwide. Then the spreadsheets would be consolidated and reentered into another spreadsheet. This consolidated sheet would be the company's monthly P&L or profit-and-loss statement. The financial data were harvested and consolidated the same way for years. If one department needed to update its data with last-minute information after submitting its spreadsheet to the financial department, the head analyst had to return the original spreadsheet, and then wait for the department to resubmit its data. After the resubmission, the head analyst would have to enter the updated data into the consolidated spreadsheet.
This way of gathering the company's financial statistics at the end of each month was irregular and sporadic. All of the financials were being collected but not on a regular basis. Financials should be collected as soon as possible. This important data should be available to track daily, weekly, monthly, quarterly and yearly sales. With the way that Snyder’s had been collecting this data, it meant that all of this important information was not available as often as needed. Snyder's wasn’t able to react fast enough to demand or popularity to a certain product. Due to the fact that they didn’t have a regularly updated collection of cash flow, certain events would not be predicted. If there was a regular cash forecasting system that was implemented, there would not be an issue of unpredicted events....
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