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Accounting Essay

278 words - 2 pages

Contingency Plans and Exit Strategies
We try to carefully plan our operations and order product when we think our sales will be the
highest. Because we deal quite a bit in perishable goods, we need to be aware of our buying
patterns. Although we are in the process of automating the inventory and ordering process, we
have been manually controlling and monitoring product as we go along.
When ...view middle of the document...

Sometimes we fail to recognize
local community events that bring people into the community who then stop by the store. We
conduct a “lessons learned” on all of these fluctuations and try to improve our performance for
the next ordering cycle.
If our sales are less than expected, we will make a note to do some extra promotional activity at
that same time next year. If our sales exceed our expectations, we try to assess the reason why.
Sometimes it is weather related, while other times it is related to special events or our
marketing efforts.
We try to monitor which products sell well and which ones we don’t want to order anymore.
The automated system will help us monitor this more but we still watch this closely, particularly
as related to the perishable foods.
Kathy Kudler is the vision behind the organization. She intends to grow and expand the business
for 10 – 15 years, at which time she will reach retirement age. Her intent is to sell the entire
organization at that time and no longer be involved in the operations.

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