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Troubling Topic, Tremendous Return

In: Business and Management

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Lake Erie CollegeMBA 534 – Organizational Behavior Summer 2013 | “Troubling Topic, Tremendous Return” | “Incorporating Organizational Behavior Concepts in the Workplace to Improve the Business” | | | 6/26/2013 |

|
Bob Givens

Component 1 - Issue
The Accounts Payable department within any organization is an extremely important player throughout the entire company. The saying, “You have to spend money to make money” is spot on; especially for a manufacturing company. Whether it’s ordering raw materials, paying for electricity, travel expenses and of course payroll, are all examples of common payables for most companies. In order to maintain good vendor relations, the Accounts Payable department needs to maintain accurate records and provide payments to all vendors in accordance to the predetermined payment terms. Failure to pay promptly within the vendor’s terms will result in the inability to order from the vendor that has the material you need in order to fulfill your customer’s order which could very well result in a lost sale and or customer. The point is that having an efficient accounts payable department is an integral part of everyday business and having good policies and procedures, organization and best practices can actually save a company’s money.
Having previously worked in a manufacturing company as an accounts payable coordinator, I have the knowledge of what the position entails. The accounts payable department where I currently work has a multitude of issues on a daily basis such as being placed on credit hold by key vendors, misfiling of paperwork, embarrassing payment histories and difficulty obtaining payment records during the annual financial audits. As the consultant, I will identify key components that need addressed not only within the accounts payable department, but within the organization as a whole. By

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