Today I Attended three different meetings. The first was a meeting called, "The 9" which is held at 9am every tuesday and friday. In The 9, the heads of each separate division of the company come together and talk about what their plans are for the week. Also what needs to happen to stay up with their deadlines. The people who attend this meeting are the heads of shipping, recieving, labeling, marketing, sales, the junior president, the COO, and the CEO. Today they talked about needing the shipping department to send out forty pallets of product to petsmart. Also, receiving shippments from Iraq and Iran in mid July, and the new products that are coming in. They were receiving new products such as softgels to send to Rite Aid and Discount DrugMart (DDM). Due to the new product being made, they needed to contact label artist to draw new labels so the product could be allowcated to the companies. An important idea I learned in The 9 was to go out to the stores and check on products, both your own and your competitors. This is because it is very important to know where your product is located on the shelf, it can affect the way it is being sold. Also, to make sure your product is not clumping while sitting on the shelves. Companies need to check on the competitors product to make sure they are staying competitive, in the sense of both price and quantity.
The other two meetings I attended were the accounting meeting and a meeting with a computer information technology company. In the accounting meeting I learned that when you sell to companies, a lot of the time they will not pay in full and will come up wirth reasons why they have deducted from the products value. When this happens the company needs to decide what to do about the money being lost, either to write it off, or to defend their product and try to get the full payment. The other meeting with the I.T company was very interesting. The CFO, Jim Jumpeter, told me when meeting with businesses you may sign with, a lot has to do with your emotional and gut feeling torwards them because if you sign a deal, you are starting a relationship with the company for the next 3-5 years. Make sure you feel confortable with that business.
Hours: 6am-3pm
The other two meetings I attended were the accounting meeting and a meeting with a computer information technology company. In the accounting meeting I learned that when you sell to companies, a lot of the time they will not pay in full and will come up wirth reasons why they have deducted from the products value. When this happens the company needs to decide what to do about the money being lost, either to write it off, or to defend their product and try to get the full payment. The other meeting with the I.T company was very interesting. The CFO, Jim Jumpeter, told me when meeting with businesses you may sign with, a lot has to do with your emotional and gut feeling torwards them because if you sign a deal, you are starting a relationship with the company for the next 3-5 years. Make sure you feel confortable with that business.
Hours: 6am-3pm