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Ceebee's Furniture

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Submitted By Marie01
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1. How does one achieve an immediate reduction in growing accounts receivable? How serious is this problem? Regular use of an aging schedule allows troublesome collection trends to be spotted so that appropriate action can be taken. Timely notification of customers regarding the status of their accounts is one of the most effective ways of keeping credit accounts current. Shorten the invoice process. Bill your customers immediately. Do not wait until the end of the month.
With some customers taking anywhere from 45, 90 or even 120 days to pay an invoice, companies are often faced with severe cash flow issues. Proper cash flow management saves businesses money. Getting paid sooner improves cash flow and improves gross profit. There are two options to help businesses. Recourse factoring is where the company selling the invoice guarantees it will be paid by their customer. Non-recourse is where the factoring company assumes all the risk in collecting from the customer. Each has its benefits and each has a different payout.

2. What should the focus of the company be? What is its strategic business opportunity? The focus of the company should be on strategic growth since Tom tries to be "all things to all people", this is one area that he has lost focus on. To do this they may need to use a differentiation strategy. They can do this by listening to their customers and offer a few different items such as entertainment centers that can be special ordered from the catalog. The strategic business opportunity of CeeBees is offering discounted priced furniture. Right now they are trying to be a low cost leader. They are very comparable to one of their competitors and slightly lower than another one of their competitors.
3. How does the company improve inefficient management practices? First, Tom should learn how to use the new computer and printer that was

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