Understanding Of Simulation Programme Operation In Mike’s Bikes Essay.

This assessment is designed to ensure students understand the operation of the simulation programme so as to maximise their progress through the subject and the simulation, and take ownership of their decisions and the impact of those decisions.

Introduction to the simulation programme, forming of groups and reflection of individual performance to use as a baseline for the Final Reflection Report.

Completion of Single-Player induction activities.

Students need to write a reflection report discussing and analysing the SinglePlayer Simulation process undertaken during the simulation project. Students should refer to their performance, and explain how they operated SinglePlayer, and in their own specific performance. Students should conclude with at least three actions points that can improve their future group work performance, now that you have the benefit of experience and hindsight. You will need to refer to the reflections in this report as part of your Final Reflection Assessment.

Key Financial Results

This reflection report aims to assess the understanding of simulation programme operation in Single Player simulation Mike’s Bikes Intro as provided by Smart Sims. Here I am going to discuss and analyze the Single Player Simulation process undertaken by me during the simulation project. Throughout the completion of simulation project, the performance is analyzed.

Key Financial Results

The challenge for me in this year is to create a firm-level branding and distribution plan for my current bike.

In 2019, actual demand for Mountain segment is 37,073 units. But for other segments such as Road and Youth segments no demands available in market place of 2019. The sensitivity of the segments to the various product dimensions were analyzed. The low number of advertising is expected for "Road segments". As the quality of the road segment is high it does not need to advertise more rather than other two segments.

Branding both Mountain and Youth segments is necessary to achieve the challenge in 2019. So I have chosen branding option for my product. I thought it will boost the effectiveness of the direct product marketing so I took the Branding as $2,000,000. When I chose branding i realized that i could brand my product through different media channels.
  

The above table shows that the usage of different advertisement by medias for my product to reach audiences.

In Video 2, I learned that how to make the first year decision. It is much better to choose one of either TV or Internet when on a small budget. My budget is $10, 00,000 for Advertising for Mountain Bike. So I chose, $3, 00,000 for TV and $7, 00, 000 for Magazines. I could not chose internet for mall budget.

The above screenshot shows that my forecast net income is $45,956 higher than the actual result of year 2019.

Key Financial Results

Buying orders, limit, preparing, compensation, staff numbers, plant improvement and administration. These Ire regions that the Operational Manager must have the capacity to comprehend and convey unmistakably going to push for financing where it was required as capital was a constrained asset, the more one area would need, the more avocation that supervisor needed to present or they would be denied by alternate individuals in any event that is the means by which our gathering worked. It was essential for every division make a beeline for exhibit their case to the gathering and after that a gathering accord came to about the levels of subsidizing that would be appropriate on the grounds that everybody was influenced by everybody else choices so I felt this would be reasonable.

In this phase, I had to check whether i have enough capacity, too little capacity or too much capacity. By using the Production Planner Screen, I analyzed the capacity.  As the idle capacity is between the 0% and 10% of SCU. So, I have enough capacity.

We have the shareholder value $14.90 and it is little bit lower than the Mountain Top Cycles. We have Retails sales of Parta Bikes over $13,447,800, wholesale sales as $8,741,070, Gross margin value is over $3,965,682 and the Profit gained after paying tax is $1,585,944. So we have gained more profit when comparing to the Mountain Top, Cycles. Profit is the major factor that drives shareholder value. Based on this, we are in the right path.

Advertising for Mountain Bike

In this report, various information about all products of the market were provided. In Road Segment period, there were no sales done. Our product name is RC_RockHopper and the total number of sales is 21,690, it is higher than Mountain Top Cycles. In previous delivery it was 0.94 and now the current delivery status is 1.00.

Total sales units are 21,690. But the Actual Production units are more than this such as 22,124. As a factory, we can vary the actual production by up to 10%. Due to this, we are able to do clear all the demands in the last year. It is shown in the result as Lost Sales = 0.

Based on the decision we have taken in this last year, the retail sales was changed. Now again I need to make the second year decisions to improve my challenge.  I have made the last period. In Retail; price, it was set to 620. SO the price impact gives effective result. So I have not changed the Retail Price for second year.

Rather than cutting down the price, i have focused on improving the marketing decision in this year. So that the Forecast sales units is set based on the previous sales figures, demand and expected changes in upcoming year. So i changed the Forecast Sales unit as 22,124. 

In Forecast Sales, we have to sell 22,124 units. But awe have already 434 units in stocks.

The above table shows that the market summary. When comparing to Mountain Top Cycles, our firm needs to advertise little bit high. Ie, 1% more than another company.

In last, period, we did not allocate any amount for internet advertisement. So now, i put $250,00 for Internet.

Key Financial Results

In this year, we have to make decisions regarding branding strategy and financial management strategy.

The following key results have been forecasted for 2021:

In third year, the shareholder value is increased rather than Mountain Top Cycles. The profit is the main factor for running business. Here, we have gained profit than Mountain Top Cycles (Kashi and Franek 2014).

Market Summary

Total number of bikes sold by Partas Bikes is 21,892 and it is higher than the sales of Mountain Top Cycles. There are no lost sales. The retail price is $620 and it is $100 lesser than the retail price. The current delivery rating is same as the previous period delivery rate i.e., 1.00.  

Chart Data Table for Perceptual Map of All Products - Period 2021 - Durga Jayanth SEETHAMSETTY

The technique began somewhat quite unbalanced as it regularly does. In any case, I gained everything under command and had several rollovers to examine where I were at with respect to the opposition (Tsalikis and Peralta 2018). In the end, I have confirmed that renewing an organization is surprisingly troublesome and it would have had some more help from Mike's Bike and more opportunity to make sense of how to keep on keeping the methodology going (Nadarajah and Syed A. Kadir 2016). I confirmed that excessively numerous progressions was not the approach. It was best to keep the progressions to a base and when I rolled out improvements I made them incrementally and gradually. I found that I had a considerable amount of money that I expected to utilize thus I utilized this money to make another bicycle line which helped kick off our organization.

Capacity Analysis

2018 T2 - BUS303 Business Project - Durga Jayanth SEETHAMSETTY - Parta Bikes - 2021

In this year I have not found any financial decisions to be made. The repurchasing is not required because, there was no issues found in among shares as it is the start up Production Company.

Making the operational decisions is essential to make confirm that the production procedures are efficiently applicable and the demands in the market absolutely met with my production strategy (Ježovita 2015). As the production efficiency is increased, the capacity and profits also increased. And also, my strategy plan, result was adequate to the production of optimum number of bikes sold when I have avoided the cost effective inventory storage on idle time (Khurram and Pestre 2017).

Conclusion and Future Work 

A lesson to take from this simulation process is that it is very essential to become into new market places initially and take advantage of on the absence of competitors because it is too hard to increase a share of an already recognized marketplace (Brown 2018).

By understanding the operation, I can maximize the progress throughout the subject and simulation process. It helps me to take ownership of my decisions and to manage the impact of those decisions. Actually I was not good performer in skill sets of marketing and product development field. After involving in this project, I have gained some more confident on these areas. So I could able to reach the original skills. In the manufacturing process, to obtain the optimum levels of quality production, I was just needed to adjust huge variables in this simulation process. The size of my plant was very tiny for many rollovers. Because, I have sold all the bikes that I had made. After that I have realized that, if the number of workers increased and the capacity is increased, then I can sell more products and I can gain more profits.

As the production efficiency is enhanced, the idle time is increased and the manufacturing cost will also be increased. Throughout this simulation project, I have learnt that the huge variance among plan settings and carry them out. As I have done my simulation work with better strategy of operating in high quality at high marketplace, I ought to be adjust with the competitors.

My main weakness is managing the financial procedures. So it is very important to understand the basic financial statement in future. So that I can understand the cash flow, profit and loss in the business simulation process. I understood that the importance of the selling shares of someone's company at early rollovers. So I could increase the company's share.

References

Brown, Brookes. 2018. "Beyond Profit And Politics: Reciprocity And The Role Of For-Profit Business". Journal Of Business Ethics. doi:10.1007/s10551-018-3777-6.

Ježovita, Ana. 2015. "Accounting Information In A Business Decision-Making Process – Evidence From Croatia". Zagreb International Review Of Economics And Business 18 (1): 61-79. doi:10.1515/zireb-2015-0004.

Kashi, Kate?ina, and Ji?í Franek. 2014. "Applying Group Decision Making And Multiple Attribute Decision Making Methods In Business Processes". Applied Mechanics And Materials 693: 237-242. doi:10.4028/www.scientific.net/amm.693.237.

Khurram, Shahzad, and Florent Pestre. 2017. "Rethinking The Salience Of Not-For-Profit And For-Profit Stakeholders Of A Firm". Society And Business Review 12 (2): 136-151. doi:10.1108/sbr-09-2016-0051.

Nadarajah, Devika, and Sharifah Latifah Syed A. Kadir. 2016. "Measuring Business Process Management Using Business Process Orientation And Process Improvement Initiatives". Business Process Management Journal 22 (6): 1069-1078. doi:10.1108/bpmj-01-2014-0001.

Tsalikis, John, and Ana Peralta. 2018. "Priming Effects On Business Ethical Decision Making". Priming Effects On Business Ethical Decision Making 01 (01). doi:10.15556/ijsim.01.01.001.