Based on our interview and the facts that were presented to us by Ari Lamb, General Manager, and Heather Hale, Office Manager, of Sign-A-Rama Ontario, we have found out that the company has been growing financially as evidenced by their best month sales of $100,000 before their fourth year in the business. Although the company has not utilized specific accounting software for its production process, it has taken advantage of technology to provide on-line ordering service in addition to walk-in services. Being a franchisee, the company is able to minimize its product costs due to special discounts of raw materials from their partner vendors. This shows that Sign-A-Rama Ontario places a huge importance on the quality of its products by purchasing
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They maintain a costing and pricing sheet (Exhibit 3) as reference when calculating price quotes of products and services. They also look out for control issues that may be external or internal. Additionally, Ms. Lamb is regularly staying up to date with major changes in technology (ex. use of on-line ordering services) that can affect her company for the better or worse. Companies always need to try to stay ahead of the pack and never be stagnant. Also, they stay on the lookout to see if there is a huge change in the market price, so they can increase their prices. Last January 2016, the company just increased their prices due to inflation. Sign-A-Rama Ontario also checks their prices and expenses semi-annually for changes so they keep up with their competitors. One of the main reasons is to remain competitive against companies like Gator Wraps and Lucky Signs, as noted earlier, other big competitors to Sign-A-Rama Ontario. Example of the expense monitoring is to try to minimize the amount of resources being wasted by employees. As for vendors, they have special deals with vendors where they can purchase materials at lower prices, despite fluctuations in the economy. But even with these management efforts, the company has not been able to successfully implement a solution to minimize inefficiencies in its labor activity, which constitutes a major portion of its product
They maintain a costing and pricing sheet (Exhibit 3) as reference when calculating price quotes of products and services. They also look out for control issues that may be external or internal. Additionally, Ms. Lamb is regularly staying up to date with major changes in technology (ex. use of on-line ordering services) that can affect her company for the better or worse. Companies always need to try to stay ahead of the pack and never be stagnant. Also, they stay on the lookout to see if there is a huge change in the market price, so they can increase their prices. Last January 2016, the company just increased their prices due to inflation. Sign-A-Rama Ontario also checks their prices and expenses semi-annually for changes so they keep up with their competitors. One of the main reasons is to remain competitive against companies like Gator Wraps and Lucky Signs, as noted earlier, other big competitors to Sign-A-Rama Ontario. Example of the expense monitoring is to try to minimize the amount of resources being wasted by employees. As for vendors, they have special deals with vendors where they can purchase materials at lower prices, despite fluctuations in the economy. But even with these management efforts, the company has not been able to successfully implement a solution to minimize inefficiencies in its labor activity, which constitutes a major portion of its product