IDIS 240 EXAM 3 - EVAN VESTAL - SPRING 2022

Steps of the Selling Process***

- Attention
- Discovery
- Solution
- Commitment

Attention

- Getting the other person's mind off what it is on and focused on YOU

- Getting the other person to see the value of spending time with YOU

Discovery

- Purpose - uncover problems (needs, concerns, something that needs to be corrected)

- Find something that you can provide a solution to

Solution

- Providing solutions to the buyer's problems

- Selling solutions over products

- KEY is to relate your products to a solution for the customer's problem

Commitment

- Asking for the business

- Most common mistake in sales is not asking for business

- The beginning of a relationship (no maidens (?))

Definition of Selling

- Successful selling should be centered on understanding your customers first

- Then, deploying a common/replicable process to create and manage opportunities and manage key customer relationships

What is the most common mistake most salespeople make during the selling process?

Not asking for business

Principles of Effective Communication***

- Before telling someone something, give them a reason to listen

- Encourage the other person to talk to get them involved in the conversation

- People don't care how much you know, until they see how you can benefit them. Got to give to receive.

- When making a point, end your statements with questions to gain confirmation and maintain control and continuation of the conversation: Question -> Answer -> Discussion

Distribution "101"

- Distributor sells a product

- Customer demands a product

- Distributor delivers it to the customer

Traditional Order Processing

- Customer sends order to Sales Force

- Orders are collated by Sales Force

- Collective Orders are placed into system

- Account section audits data and approves order

- Warehouse manager receives order and checks for part availability

- Is part available?
YES:
- Issue dispatch order and invoice
NO:
- Issue Manufacturing Order or Purchase Order
- Receive required quantity in stock

- Issue dispatch order and invoice

- Arrange for transportation

- Customer receives stock ordered

- Payment against invoice for quantity received

- Cycle Complete

Where is the most critical delay in the traditional order process?

Part availability, not having the item needed

Traditional Order Processing Issues

- Difficult to track orders from acceptance to fulfillment.

- Difficult to match purchase orders, inventory receipts and costing.

- Subject to human error/mistakes.

- Increased paperwork implies increased non-value added activities.

- Each step causes an unavoidable delay which increases lead time.

- Customer service impacts.

- Lacks integration.

Enterprise Resource Planning (ERP)

- In 1960s computing resources are applied to manufacturing.

- Realized for effective inventory control it needs to be integrated to production schedules.

- Integration of financial, manufacturing, and human resources on a single computer system.

- Many versions on the market.

- Look for cost & functionality.

- New trend is hosted versus on-site - 'cloud'.

- Also called 'Enterprise Resource Planning System' or simply ERP.

- Suite of integrated software modules and a common central database.

- Collects data from many divisions of firm for use in nearly all of firm's internal business activities.

- Information entered in one process is immediately available for other processes.

- Integrates and automates all your business processes.

Most Critical Functions of Enterprise Resource Planning (ERP)

What do I have?
- What is it?
- Where did it come from?
- How many do I have?
- Where is it?

How do I get more?
- Who do I re-order from?
- When do I re-order?
- How much do I re-order

Enterprise Resource Planning (ERP) Standard Components

- Centralized Database
- Finance & Accounting
- Human Resources:
- Manufacturing & Production
- Sales & Marketing

Centralized Database

- Connects it all together

Finance & Accounting

- Cash on hand
- Accounts receivable
- Customer credit
- Revenue

Human Resources

- Hours worked
- Labor cost
- Job skills

Manufacturing & Production

- Materials
-Production schedules
- Shipment dates
- Production capacity
- Purchases

Sales & Marketing

- Orders
- Sales forecasts
- Return requests
- Price changes

What does Enterprise Resource Planning (ERP) allow you to do?

- Track Products
- Track Salesforce
- Track Customers
- Track Vendors
- Track Financials
- Track provided analytics for informed decision making by leaders.

Employee Owned Holdings, Inc.

- 100% employee ownership
- Hydroquip, Elite Controls, GCC - Innovative Motion Control, Supreme Integration Technology

Geoffrey Hartnup & Jacob Sumrall

Guest speakers from Employee Owned Holdings, Inc.

The Talent Incubator Program

Tbh didn't really listen to what they said, I think it's a research program, kind of like an internship

Dr. Esther Rodriguez Silva

Guest speaker from The Talent Incubator Program

Ethics: The Overarching Premise

- Ask yourself "How would I like to be treated in this situation?"

- Thinking before you act
-- How does this affect those around me?
-- How would a third-party view this?
-- What would my mother/father/guardian/mentor think?

- Sometimes the best actions are not always the popular ones

- This is a guideline for any situation

Defining Morals

- What are morals?
-- The prevailing standards of behavior that enable people to live cooperatively
-- Society's views on right and acceptable


- Morals provide the guiding principles for the development of ethics

- Ethics aren't always moral and vice-versa
-- A vow of silence in discussion of activities in a criminal organization, ethically correct for the organization but morally wrong to society.
-- A moral action can also be unethical. A lawyer who tells the court that his client is guilty may be acting out of a moral desire to see justice done, but this is deeply unethical because it violates the attorney-client privilege.

How are ethics determined?

- Determined by your individual ideas of right and wrong
- You have the right to live how you want as long as you don't cause harm

- HOWEVER, they are also determined by societal views
-- These societal views must be taken into account
-- Be empathetic and place yourself in another person's shoes

5 Reasons People Use to Rationalize Unethical Behavior

1. My actions are not fully illegal

2. This action is in everyone's best interest

3. No one will find out

4. My organization will protect me

5. This is what I want, others don't matter

What should you remember when making decisions?

- Accept and understand the impact on others, and think of other's views

- Be aware of the influence that your choice can have, it will lead to better outcomes for all

Classroom Behavior Expectations

- Respect your peers.

- Respect your professors.

- Participate.

- Do not let outside distractions impair your classroom presence.

- Review Texas A&M Student Rule 21: "principle of freedom of expression for both instructors and students"

Interview Behavior Expectations

- Refrain from using foul language.

- Dress for success.

- Answer questions honestly.

- It is best to not ask about salary/pay, but if prompted be respectful.

- Make sure you have an appropriate background for online interviews.

- ALWAYS ARRIVE EARLY!

Informal Recruiting Environment Behavior Expectations

- Remember that you are being evaluated.

- If the group is ordering drinks, know your limit and keep it to a minimum.
-- If you are not 21, do not drink even if offered.

- Be mindful of the conversation topics; keep it appropriate.

- Put your phone away.

Group Project Behavior Expectations

- Contribute/do your part - you would be fired in
the real world.

- Be a team player.

- Complete your work when agreed upon.

- Show up for team meetings.

- Use the University writing center, etc.

Email Behavior Expectations

- Do not write emails that you do not want others to see.

- Be courteous.

- Be succinct.

- Check spelling before you send.

- Return emails within 24 hours, etcetera.

How to Prepare for Success

- Groom yourself.

- Dress for success.

- Use polite language.

- Make a plan.

- Keep a to-do list.

- Develop positive habits.

- Work hard.

- Network, etc.

Advice from a Graduating Senior

- "Attend classes - do not pretend you have something else important to do."

- Remember that your behavior is not only a reflection of yourself, but also of Texas A&M University, the College of Engineering, and the Industrial Distribution Program.