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I.

PURPOSE

To provide a more efficient and effective accounting system through creating and implementing various
forms such as inventory requisition, purchase order receipts, receiving report and other similar forms.

II. BACKGROUND

Problem, Opportunity, or Directive Statement

In many years that market day take place, each group were having a hard time competing to each other
or even to the group itself. It is considered a competitive event. One of the reason why some market day
businesses don't prosper is the absence of an organized work system. This incapability to manage work
will cause operation inefficiency, thus lowering profit. Once the profits are low, it may lead to bankruptcy.
As the group observed and experienced, the following problems arised during market day:

Tight competition prevents the firm to increase price rates

Since there are a lot of players present in the market, most of them operates using their competitive
advantage in offering the “lowest” possible price. As a competent business, the management should try
to keep up with that as well but without decreasing the value of their products or services, because if
not, this will result the business’ incapability caused by low profit.

higher cost due to inefficiency

This includes the increasing prices of supplies needed. Lack of proper time management or scheduling
could also increase a business’ cost. Late delivery or defects means another cost. To lessen the
occurrence of this situation, a business should try to adapt other alternatives, and set a proper schedule
for the whole business operation.

and set a proper schedule for the whole business operation.


Suffers unorganized system

Due to lack of proper management, a business will surely have difficulty to even begin operating. A
management should establish their plan; determine productivity, disseminate task and responsibilities,
and have a well-designed organization. Present here as well is the insufficient number of manpower
wherein workers will be forced to do double-tasks that sometimes result in failure to provide good
customer service.

Lack of schedule of orders to suppliers.

- Having no proper schedule of orders to suppliers affects all departments in the organization - from
delay in production to delay in deliveries. someone must be assigned and be responsible enough in
handling this kind of transaction to avoid further costs and other problems.

understock/overstock of inventory

Understock results from delayed purchase of materials, production of products, lack of inventory
management, lack of proper scheduling etc, while problems in overstocking might be caused by ordering
too much quantity, low/poor advertisement/marketing strategy. Besides setting up a purchasing
schedule, quantity amount must be assured. Regarding the case of selling the products, the marketing
department together with the production department must work hand-in-hand for the success of
creating and advertising a product of good value that will surely attract customers and meet their
demands.

History

As the proponents observed during the previous market days, it is indeed a one of a kind event that
every Kingfisher students would treasure. A nerve cracking experience you shouldn't missed. It is an
event that will enhanced your skills, improve your character and build strong foundation of relationships.
Market days are also considered stressful days because of unanticipated problems arising before, during
and after the event. Some of which are the presence of irresponsible groupmate, unorganized work
system, insufficient supplies, etc. But such aspects are ingrained part of every celebration that are
inevitable.
Sugar Da’ Day is one of the groups formed during 2018 Market day in Kingfisher School of Business and
Finance. It was headed by Mr. Leonard Philipp De Mesa, a 3rd year management student. The group is
composed of fifteen BSA and Management students.

Given that “Sugar daddy” is a famous term given to a rich older man who lavishes on a young woman in
return for her company, the group decided to adopt the term because the members want to adopt the
idea of “we’re he’re to provide what you want”.

After, making the name, the group decided to set their investment which amounted to one thousand for
each member.