This report provides an analysis of Laurel Pty Ltd's inventory management and expenditure processes, identifying internal control weaknesses. The report highlights issues within the production and purchasing departments, such as the lack of a structured purchase order system and excessive inventory accumulation. It assesses the potential impacts of these weaknesses, including increased inventory costs and reduced profitability. Furthermore, the report proposes specific internal controls, such as implementing software for inventory management, improving data security, and utilizing business intelligence and digital dashboards. The second part of the report discusses the importance of business intelligence and digital dashboards in management decision-making, particularly in the context of improving operational efficiency, controlling supply chains, and visualizing manufacturing data. The report emphasizes the benefits of these tools in providing real-time information, enhancing communication, and supporting strategic planning for Laurel Pty Ltd.
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