Performance evaluation and improvement among salesmen in the Nigerian fast moving consumer goods sector

This study examined the impact of systematic performance evaluation on performance improvement among salesmen in the Fast Moving Consumer Goods Sector in Nigeria. This is occasioned by the peculiar nature of the job of the salesman which requires that specific attention be paid to the mode of performance evaluation deployed for them and its impact on their productivity. Using Yamane formula, convenience sampling method was used to select 263 respondents from the sales team of PZ Cussons Nigeria PLC. Four hypotheses were subsequently tested using correlation test. Based on the analysis, the study found a significant influence of clear, specific and challenging goals on the performance of salesmen in the Fast Moving Consumer Goods sector in Nigeria. It was also deduced that there is no significant influence of detailed and timely feedback on the performance of salesmen in the Fast Moving Consumer Goods sector in Nigeria. Furthermore, the study also revealed a significant influence of employee reward and recognition, as well as, training and development on the performance of salesmen in the Fast Moving Consumer Goods sector in Nigeria. Based on the findings, the study recommended a clear, complete and inspiring job requirement of all salesmen so that the employee can continuously improve performance. Furthermore, feedback from appraisal and evaluation should also inspire, encourage and motivate salesmen without including any form of threat and fear of job security. Finally, Fast Moving Consumer Goods sector in Nigeria should embark on capacity development of human resources through training and mentoring. This study therefore contributes to limited studies on performance evaluation, as well as, validation of both the conceptual and theoretical postulations in the context of Fast Moving Consumer Goods sector in Nigeria

Otimização do processo de vendas : estudo de caso no Clube INTERPASS

Mestrado em Decisão Económica e EmpresarialTodas as semanas, a empresa CIF, através de roadshows realizados em Portugal, envia as suas equipas de vendas com o intuito de vender o seu produto. Este trabalho pretende então otimizar o processo de atribuição das várias equipas envolvidas nas sessões de vendas que se realizam em salas de hotéis nos vários concelhos do País. Para tal, recolheram-se os dados da população Portuguesa por concelho e, numa primeira fase, examina-se a distribuição geográfica dos atuais sócios para se avaliar e se determinar os concelhos que terão maior potencial para angariação de novos sócios. Tendo em conta os concelhos anteriormente visitados, calcula-se a eficácia das equipas de telemarketing e de vendas e os custos inerentes às deslocações e estadias dos mesmos. Como a oferta é limitada pelo número de semanas disponíveis de trabalho das equipas, determina-se a procura das reuniões por concelho e por ano. Por fim, alocam-se as reuniões em forma de roadshow às equipas num ano de modo a maximizar a margem da empresa e maximizar o número de UPs A. O problema de alocação de reuniões às equipas é modelizado em programação linear inteira multiobjectivo. Para encontrar soluções para o problema, obtêm-se os dois pontos lexicográficos, pontos não dominados que correspondem a soluções eficientes do modelo multiobjectivo e, de forma a encontrar outras soluções, reformula-se o referido modelo multiobjectivo em programação por metas atribuindo diferentes pesos aos objetivos. Estas soluções são encontradas através do software Premium Solver Pro e representam diferentes planos de roadshows em Portugal continental.Every week, using roadshows held throughout the country, CIF Company sends their sales teams to sell their product through a contract that provides access to a variety of services at the best market price. This work intends to optimize the assignment process of the various teams involved in the process of the sales sessions that take place in hotels all over Portuguese municipalities. At first, Portuguese population data was collected and then compared with the geographic distribution of the current associates in order to determinate and evaluate the municipalities with the greatest potential to attract new members. Formerly, the team?s effectiveness and their travelling costs are calculated. Taking into account that the offer is limited by the number of weeks available, the demand of sessions per municipality per year is also calculated. At last, the sales teams are allocated to the sales sessions, maximizing the company?s profit and number of A associates. The team?s allocation to the sessions problem is modeled as an multi-objective integer linear programming problem. To find a solution to the problem, the two lexicographical points are obtained, non-dominated points that correspond to efficient solution to the multi-objetive model, and, in order to find other possible efficient solutions, the multi-objective optimization model is reformulated by the goal programming method giving different weights to the objectives. These solutions are found through the Premium Solver Pro software and represent different plans for roadshows in mainland Portugal

Utvecklandet av en data-driven försäljningsprocess

To deal with an increase in the quantity and availability of data, companies are coming up with new ways to support their decisions and processes with data. This master’s thesis describes the design of a data-driven sales process for the acquisition of new corporate customers for Aktia, a medium-sized Finnish bank. The purpose of this redesign is to move from an ad hoc, relationship-based method of customer acquisition to a more systematic one, where data is utilized throughout the process. The sales process design is approached from both an empirical and a qualitative perspective. From the empirical perspective, the main deliverable is a statistical scoring model for the selection of new corporate customers. From a qualitative perspective, the thesis presents a process for deploying the customer selection suggested by the developed scoring model. Additionally, the thesis outlines a plan for establishing an iteratively improved process for the acquisition of new corporate customers. In terms of empirical findings, our modelling work brought to light several statistically significant predictors of customer quality. Among the most important predictors were variables relating to financial health, such as the relative indebtedness, and variables relating to profitability, such as the return on assets and the return on investment. In terms of methodological results, we found decision tree-based models to be the strongest-performing class of models. A successful implementation of the proposed analytics-based sales process has the potential to generate significant business gains for Aktia. Compared to the current, limited customer selection process, a formal customer selection model can lead to a significant improvement in the quality and profit potential of acquired customers. Additionally, by introducing techniques for analyzing and improving sales efforts, Aktia can improve its customer acquisition and retention rates. Concretely, these retention gains lead to more productive sales efforts and an increased rate of new customer acquisition, both of which match Aktia’s strategic growth targets.För att handskas med den alltjämt växande mängden data som samlas och lagras, utvecklar företag fortsättningsvis nya sätt att stöda sina beslut och processer med data. Detta diplomarbete beskriver planerandet och implementeringen av en ny data-driven försäljningsprocess för anskaffandet av nya företagskunder för den medelstora finländska banken Aktia. Syftet med omorganiseringen av försäljningsprocessen är att övergå från en ostrukturerad metod för nykundsanskaffningen till en mer systematisk process där data används i processens varje steg. Konstruktionen av försäljningsprocessen behandlas från både ett empiriskt och kvalitativt perspektiv. Ur ett empiriskt perspektiv utvecklar diplomarbetet en statistisk kund-scoring-modell som kan användas för att välja kunder med hög kvalité och lönsamhet. Kvalitativt presenterar diplomarbetet en process för att genomföra kundvalet baserat på den statistiska modellen. Ytterligare presenteras en plan för etableringen av en iterativt uppdaterad process för anskaffning av nya företagskunder. Modellen identifierade flera statistiskt signifikanta prediktorer av kvalitén av en företagskund. Faktorer som beskriver företagets finansiella hälsa var bland de mest betydande. Också faktorer som relaterar till företagets lönsamhet kom fram som statistiskt betydande. Av de testade modellklasserna, presterade beslutsträdsmodeller det bästa resultatet. En lyckad implementering av den föreslagna data-baserade försäljningsprocessen kan leda till betydande fördelar för Aktia. Jämfört med den nuvarande, något begränsade kundanskaffningsmetoden, kan en mer systematisk kundvalsprocess leda till en avsevärd ökning i kvalitén och lönsamheten av nya kunder. Genom att introducera metoder för analyserandet och förbättrandet av försäljningsinsatser, kan Aktia också effektivera sin nykundsanskaffning. Dessa effektiveringar leder till mer produktiva försäljningsinsatser och en ökad träffsäkerhet inom nykundsanskaffningen, som är i linje med Aktias strategiska tillväxtmål

Is operational research in UK universities fit-for-purpose for the growing field of analytics?

Over the last decade considerable interest has been generated into the use of analytical methods in organisations. Along with this, many have reported a significant gap between organisational demand for analytical-trained staff, and the number of potential recruits qualified for such roles. This interest is of high relevance to the operational research discipline, both in terms of raising the profile of the field, as well as in the teaching and training of graduates to fill these roles. However, what is less clear, is the extent to which operational research teaching in universities, or indeed teaching on the various courses labelled as analytics , are offering a curriculum that can prepare graduates for these roles. It is within this space that this research is positioned, specifically seeking to analyse the suitability of current provisions, limited to master s education in UK universities, and to make recommendations on how curricula may be developed. To do so, a mixed methods research design, in the pragmatic tradition, is presented. This includes a variety of research instruments. Firstly, a computational literature review is presented on analytics, assessing (amongst other things) the amount of research into analytics from a range of disciplines. Secondly, a historical analysis is performed of the literature regarding elements that can be seen as the pre-cursor of analytics, such as management information systems, decision support systems and business intelligence. Thirdly, an analysis of job adverts is included, utilising an online topic model and correlations analyses. Fourthly, online materials from UK universities concerning relevant degrees are analysed using a bagged support vector classifier and a bespoke module analysis algorithm. Finally, interviews with both potential employers of graduates, and also academics involved in analytics courses, are presented. The results of these separate analyses are synthesised and contrasted. The outcome of this is an assessment of the current state of the market, some reflections on the role operational research make have, and a framework for the development of analytics curricula. The principal contribution of this work is practical; providing tangible recommendations on curricula design and development, as well as to the operational research community in general in respect to how it may react to the growth of analytics. Additional contributions are made in respect to methodology, with a novel, mixed-method approach employed, and to theory, with insights as to the nature of how trends develop in both the jobs market and in academia. It is hoped that the insights here, may be of value to course designers seeking to react to similar trends in a wide range of disciplines and fields