Photo AI
AUS Swimsuit Ltd manufactures swimwear products at its Australian production facility - VCE - SSCE Business Management - Question 5 - 2018 - Paper 1
Question 5
AUS Swimsuit Ltd manufactures swimwear products at its Australian production facility. It sells to the public through retail outlets in major shopping centres around... show full transcript
Worked Solution & Example Answer:AUS Swimsuit Ltd manufactures swimwear products at its Australian production facility - VCE - SSCE Business Management - Question 5 - 2018 - Paper 1
Step 1
Describe how forecasting could assist AUS Swimsuit Ltd in improving its operations.
Answer
Forecasting involves looking at past business trends to predict future demand and trends. For AUS Swimsuit Ltd, this means analyzing previous sales data during the Australian summer months to better prepare for the upcoming season. By accurately forecasting demand, the company can optimize its production schedules and inventory management. This can help reduce costs associated with overproduction and stockouts, ensuring the right amount of products is available when needed. Furthermore, it allows AUS Swimsuit to align its marketing strategies with expected sales peaks, enhancing customer satisfaction and ultimately improving profitability.
Step 2
Describe how website development could assist AUS Swimsuit Ltd in improving its operations.
Answer
Website development is crucial for AUS Swimsuit Ltd as it provides an online platform to increase awareness and reach a broader customer base. A well-developed website enables the company to showcase its products effectively, provide detailed information, and potentially offer e-commerce functionalities where customers can place orders directly. This can significantly enhance customer engagement and streamline the order process, reducing time and resources spent on traditional sales methods. Additionally, a robust online presence can facilitate global marketing efforts and help diversify the selling season beyond the traditional Australian summer period.
Step 3
Outline the interests of two relevant stakeholders of Ocean Skate Hub.
Answer
-
Employees: Employees are primarily interested in job security, fair wages, and opportunities for career advancement. They seek a stable work environment where they can grow professionally.
-
Management: The management is focused on the overall profitability and sustainability of the business. They are interested in strategies that enhance productivity and business growth, which may involve cutting costs or restructuring.
Conflicts may arise as management might aim to reduce costs by streamlining operations, which could lead to job cuts or reduced wages, contradicting the employees' desire for job security and fair compensation.