Currently Competition Bikes purchases inventory for production the month before it goes to the production line. To ensure that inventory is being used in a smart way, the company should negotiate terms with fewer manufacturers to purchase materials on consignment. This would allow the materials to be stored at the manufacturing facility to be available on demand without the necessity of carrying that inventory in the books. The inventory would then be purchased and paid for at the time of use. This reduces the carrying costs of the inventory that is ordered as well as insuring that unused items are not held from month to month.
Since consumers will be more likely to support American vendors, this will keep the American businesses running and not force them to cut costs to compete with imports. As long as American businesses do not have to cut costs and layoff workers to compete with imports, the American job base stays stable and possibly could grow.
UNIT 13 : Recruitment and selection (P1) In this report I will be explaining how organisations plan recruitment using internal and external sources. I will be relating my work to two organisations, Tesco (Market Leaders) and ASDA (Competition). Vacancies occur due to lack of staff; this may be because of reasons stated below: * maternity leave * promotion * changing jobs * paternity leave * retirement * etc Other reasons may include a business expanding and needing more staff to cope with demand. For example, a new Tesco Express being opened, this will mean more staff will have to be hired to run the new store. A competitor for Tesco such as ASDA may also be expanding and opening new stores in the fight for market leadership.
Using Budgets and Pro-Forma Statements to Plan Production Capacity One of my key lessons from this simulation was the importance of working in teams and openly discussing decisions that need to be made before making them. I approached the simulation as the only team member because the simulation didn’t include other participants. In retrospect, I would have assigned other members, at least in my mind, to gain additional team insights. I was not careful enough in setting pricing for my two products correctly in the second quarter when we actually began sales. I priced my high end Mercedes line accidentally at the price I had planned for my mainstream Workhorse line and vice-versa.
The problem is that the R&D is very unclear and some products may not hit a public market for years. Like the example of the IBM and non-IBM hardware not doing well until after more people owned personal computers and could decide how they wanted the computer to work for them, then that non-IBM hardware took off. By having patents you can use them to build relationships with other experts that you may not have the time or money to become an expert in all areas. I just hired an CPA for my company even though I really need office help but I feel having my company paperwork and taxes paid correctly and on time is more important, business taxes are far beyond my expertise so I just do not do my own taxes. The biggest thing that stands out to me is that if you have good R&D, and can either hold patents or build relationships with those who do hold the patents you need you can have a chance to maintain relationships with consumers giving you better chance to build a name brand and recognition for future
Positioning is extremely important for a retail firm, because of course a retail store cannot be everything, and firms that were previously positioned to target this generation were now left wondering what to do next. Market share was also getting more competitive with pressures for lower pricing, fast-fashion, and ethical behavior. Le Chateau was faced with the problem of positioning itself in the post-boomer market to achieve market share and profitability goals as it had done for the past 50 years. Target Market and it’s Evolution Le Chateau initially focused on marketing its apparel to fashion leaders. London’s Carnaby Street was a new fashion wave described as modern in the 1960’s.
But after knowing the demand, several of products will be designed base on the concept and developed so finally can come up with a product that can fit and sell to the target customers. To develop merchandise from design to product, many process and modification are needed. Apparel design and developing a line takes about 6 to 9 months, i.e. all forecasting for a season was made 9 months ago. But in a fast changing market as fashion, the trend can change rapidly and as few months pass, the forecasting may differ from what designer projected.
1. What did the salesperson do correctly in this situation? Do you think any errors were made? The salesperson first asked correctly the customer what they particular shoes are looking for although the customer didn’t know very much about running shoes. Then salesperson exactly gave the customer recommendations by asking the specific question how much does the customer run a week, where does the customer most run.
No need to ship the goods across the border, therefore no tariffs on the delivery. o Risk diversification- CEMEX could well spread their risks. If one market is not performing well, it could depend on the other ones. So, assuming there isn’t a world-wide recession, the revenues of its will be more stable because of diversification. o Talent across markets- Ability to identify new emerging markets and having advantage of an already set up network system o Proximity to raw materials gives benefits on distribution channel.
the retailers would guess what the customer would prefer and how many they would request and then order accordingly and usually this meant either overestimation which lead to unsold stock and subsequently loss, or underestimation which meant loss of potential profit. Crocs managed to develop a supply chain system that avoids these deficiencies by establishing a system that responded to customer needs on real time basis. This system allowed the retailers to place smaller orders and order more when needed, hence Crocs supply chain was able to manufacture the required product during the season and ship it quickly to the retailers. This ability enhanced Crocs relations with the retailers and allowed them to gain competitive edge over their competitors, especially that their products were differentiated by their functionality and new style. Crocs also marketed its products through having agreements with colleges and universities and through targeting healthcare and food industry workers which helped to prolong its products trends.