...The Synopsis of the problem: Specialty Toys, a retailer of Children’s toys is planning to launch a new toy called “Weather Teddy”. Sales Managers at the stores are working relentlessly to forecast the most appropriate demand order quantity in such a way that profit could be maximized. The analysis of the problem calls for an ideal demand order quantity situation with lower probability of stock-out option. Following is the statistical information given: The cost of goods sold per unit = $ 16 The cost of Sales price Per Unit = $ 24 Surplus inventory sales price per unit = $ 5 Cost of excess inventory per unit = $ 16- $ 5 = $ 11 Expected Demand predicted by Sales Forecaster= 20,000 units Probability of demand between 10,000 units and 30,000 units = 0.95 Solution of the problem: In order to make the most appropriate recommendation to Management, a Managerial report has been prepared that addresses following issues: 1. Normal Probability Distribution sketch used to approximate the demand distribution with the its mean and Standard Deviation 0.4750 0.4750 0.95 10,000 20,000 30,000 10,000 20,000 30,000 Figure 1: Normal Probability Distribution Curve for Expected demand Expected Demand = 20,000 Hence, Mean () = 20,000 The probability of demand units to be in between 10,000 and 20,000 is 0.95 as also given in the Figure 1. In order to compute Standard Deviation, we will use following statistical formula: ...
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...Gg Toys Case St G.G.Toys Thedecline margins our popular in on Gtoftry doIIproduct become has intolerable. production Increasing haae costs dropped pretaxmarginto less our than10%, below historical our 257omargins, wearegoing If far to increase margins, need consider our we to drastically shiftingour production towards sfecialtydolts aie that earning large prnniumin priceoaer standard line. a our doll -Robert Parker,President, G.G.Toys Background Robert Parker, president of G.G. Toys, was discussing last month's operating results with Audrey Hausner, G.G.'s conkoller, and David Morehouse, G.G.'s manufacturing manager. The meeting was taking place in an atmosphere tinged with apprehension because margins on thelr most popular product, the "Geoffrey doll," had been declining rapidly in the last few years due to rising production costs (summary operating results for the previous month, March 2000, arc shown in Exhibits 1 and 2). Parker saw no choice but to shift the company's product mix towards specialty dolls that carried a high price premium, and thus, a 34% margin. G.G. Toys was a leading supplier of high-quality dolls to retail toy stores throughout the U.S, The comPany had started with a unique design for molding highly durable dolls using vinyl and resin materials. G.G. quickly established a loyal customer base among retailers because of the high quality and popularity of its manufactured dolls. It soon established a major presence in the market with its high-volume...
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...[Writer Name] [Supervisor Name] [Subject] [Date] Fieldwork Paper In my fieldwork project observed a number of gamers who will be divided into 2 categories of addicts and non addicts. People who play for more than 5 hours a day are called addicts and those who play less time than that are called non-addicts. Which will focus on the specific players in a game called World of Warcraft. This game is a very popular game worldwide with over 5000 people playing at any given time (Cronin 113-147). Its popularity is one of the reasons why people are getting addicted to it. Gamers are all the time looking for new and interesting games and as they find something new they started playing and telling their friends and family about it. In this way those people themselves get obsessed of games as well as they make others overwhelmed with the interest of gaming. I would define this group of players as a culture because they have their own way of life that is very different from anything one is, they spend much of their time in gaming which is no more than a way to get busy. And this activity does not mean anything useful. In addition at one point these 5000 players are playing then a sort of a social group of their own. Some of my songs are complete addicts and play this game at least 8 hours a day without worrying about college, sleep or work. These people have no friends and not have any food because they are busy playing Warcraft all day (Mayra 45-113). We think that it will be a great...
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...Lego occupies a strong position in the market for construction toys with relatively few rivals one must consider that Lego is now competing in boarder market of children's entertainment which in the lead up to 2004 began in include large incumbents from the electronics sector such as Sega and Nintendo. Power of buys The power of the buyer in the case of Lego may be seen as relatively high with low switching costs between alternative toys and even substitute products such as video games and television. Power of suppliers The power of suppliers may be seen as average, Lego's products on the whole may be seen as largely based upon standardised inputs such as plastics and chemicals. There is the consideration that were Lego chooses to move into non-traditional areas such as sets associated with films or games the power of suppliers will increase as a key input becomes that of licences which is a form of intellectual property. Threat of substitutes This may be seen as the largest threat to the Lego group in the run up to the end of 2004. Although it is difficult to define what market a company occupies (Grant 2008, Porter 2004) for the purpose of considering the impact of substitution one must consider Lego to be a provider of children's entertainment. In this case the threat from substitutes are rather high given that consumers may substitute between alternative traditional toys such as action figures or toy cars through to electronic products such as video games and...
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...Jennifer Smith G.G. Toys: Case study #2 G.G. Toys was a toy manufacturer facing problems with productivity and profitability. The company found a profitable product in their Geoffrey doll and Specialty branded doll #106. Retailers could customize to the specifications and buying habits of their customer base. On average, the Geoffrey Doll cost $19.19 to produce, and the #106 doll $23.74. To access in a study of their overhead cost for both of their plants, research showed that: 1. A setup was performed in the Chicago facility each time a modification to the dolls was made. Additionally, each time a specialty-branded doll was produced, a separate setup was required to process the raw materials to the required specifications. 2. Workers in the Chicago facility often operated several machines simultaneously once they were set up. Thus, machine-related expenses might relate more to the machine hours of a product than to its production-run labor hours. Because each retailer required slight alterations to the Geoffrey doll's overall appearance, a new setup and production run was required for each design change. Retailers were found to be conservative in their ordering patterns, ordering fewer units more frequently. Thus increasing the number of setups required, causing increased labor and material cost. The research done by the external group did show an area of opportunity. Because setup is time consuming, labor intensive, and costly, it would be within reason...
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...the notion of others- so if someone pick up his toy, he may throw a tantrum or voice a protest as he sees his object is an extension of his self Age 3 * Child’s brain is almost fully grown * Lying- a developmental milestone! As it demands quite advanced cognitive and social skills * Almost 4- children will lie on a regular basis * Purpose is different: 3- lie to avoid punishment; older child- control a social situation * Awareness of gender identity * Enjoy grown-up role play * Sharing responsibilities: household chores They enjoy learning about their world through role play and imitation * Sense of self has expanded- to include sense of others and this inspired him to share, take turns, empathize, and do cooperative play. It is also an ideal time to establish shared family events such as regular mealtimes * Peer pressure * When it comes to deciding on who is right and who is wrong, 3 year olds will go with the majority. * Age 3 * Play is the dominant feature of preschool life. Preschool phase is said to be the most playful stage of human life. Based on your observations or experiences, what are the toys usually enjoyed by preschool children? * Cooperative play * e.g. invention or copying of a set of rules; can spontaneously change rules * Others: puzzles, board games, card games, drawing and painting * Imaginary friends- invisible presence or a favorite toy that has been enrolled to play the part of the friend...
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...Jennifer Smith G.G. Toys: Case study #2 G.G. Toys was a toy manufacturer facing problems with productivity and profitability. The company found a profitable product in their Geoffrey doll and Specialty branded doll #106. Retailers could customize to the specifications and buying habits of their customer base. On average, the Geoffrey Doll cost $19.19 to produce, and the #106 doll $23.74. To access in a study of their overhead cost for both of their plants, research showed that: 1. A setup was performed in the Chicago facility each time a modification to the dolls was made. Additionally, each time a specialty-branded doll was produced, a separate setup was required to process the raw materials to the required specifications. 2. Workers in the Chicago facility often operated several machines simultaneously once they were set up. Thus, machine-related expenses might relate more to the machine hours of a product than to its production-run labor hours. Because each retailer required slight alterations to the Geoffrey doll's overall appearance, a new setup and production run was required for each design change. Retailers were found to be conservative in their ordering patterns, ordering fewer units more frequently. Thus increasing the number of setups required, causing increased labor and material cost. The research done by the external group did show an area of opportunity. Because setup is time consuming, labor intensive, and costly, it would be within reason (at least...
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...Magnetic Toys Can Hurt The major problem with Mega Brands is with the safety of the children that play with the toys. Magnets fall off of the toy and children swallow the magnets which can cause stomach flu like symptoms and has even caused one child to die. Another problem is Mega Brands refusing to cooperate with the U.S. Consumer Products Safety Commission. According to CPSC.com, “The U.S. Consumer Product Safety Commission is charged with protecting the public from unreasonable risks of injury or death from thousands of types of consumer products under the agency's jurisdiction. The U.S. Consumer Products Safety Commission is committed to protecting consumers and families from products that pose a fire, electrical, chemical, or mechanical hazard or can injure children.” The U.S. Consumer Products Safety Commission has a job to do as well as Mega Brands. From one business to another, Mega Brands should have responded to the recalls that could have prevented a lot of children from being sick. According to our text on page 263 “data was submitted covering 1,500 complaint reports made to Mega Brands”. Mega Brands “lacked an organized comprehensive reporting system.” (Brooks, Leonard J. Page 263.) If the organization was better this complaints could have been a red flag to get the toys off of the market. The concerns that I would express to the CEO about the Magnetix to issues would be that there has been a reported death from our toys. This alone should make...
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...ready to sell!! Moving Sale May 5th (Colonial Heights) Moving sale to start at 8am on may 5th Lots of furniture, house wears, baby items, books etc!!!112 Princeton Rd colonial heights VA 23834Past high school on conduit left onto Huntington rd then first left onto Princeton Baby items up to size 12m boys and girls Couches chairs lazyboy, beds other misc furniture. Needs to go!!! Multi-Family Yard Sale - Saturday 5/5 (Chester, VA) Multiple Family yard sale THIS SATURDAY May 5th FROM 8am till 1pm (NO EARLY BIRDS PLEASE). Something for everyone, NEW OR GOOD QUALITY ITEMS FROM; Some small Furniture, Home Decor, Kitchen gagits, Lamps, Silk Plants, Clocks, Exercise Equipment, Shelves, Bikes, Roller Blades, Kids Skates, Iron Steamer, Toys, Board games, 13" Color TV's, Computer gagits, Purses, Shoes & lots of clothing - all ages, NEW Bedroom linen, Dishes, Books, New Watches & Costume Jewelry, Holiday decorations, Garden Tools, Garden Hose Reels, Pictures, Rugs, too many items to list all. HILLTOP FARMS DRIVE, CHESTER, VA 23831 (From Rt 10 turn on Chester road about 2 miles, make right at 7/11 store, 1/2 block turn...
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...Industrial Promotion and Technology Branch TECHNOLOGY PAPER SERIES 6/05 Technology Transfer and Trade: The Toy Industry in India UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION I N D U S T R I A L P R O M OT I O N A N D T EC H N O LO GY B R A N C H Technology Transfer and Trade: The Toy Industry in India TECHNOLOGY PAPER SERIES TPS 6/05 December 2005 UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION Vienna, 2005 UNIDO Industrial Promotion and Technology Branch Technology Paper Series TPS No. 6/2005 December 2005 Technology Transfer & Trade in Toy Industry of India Copyright © 2004 by United Nations Industrial Development Organization (UNIDO) The designati ons employed and the presentation of the material in this document do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations Industrial Development Organization (UNIDO) concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. The responsibility for options expressed rests solely with the authors, and publication does not constitute an endorsement by UNIDO of the opinions expressed. This document has been produced without formal editing. The views expressed in this report do not necessarily reflect the views of the Secretariat of the United Nations Industrial Development Organization. Any indication of, or reference to, a country, institution...
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...GROUP 7 GROUP 7 TOY INDUSTRY SUBJECT: SMSP TOY INDUSTRY SUBJECT: SMSP DHARAM JOSHI VISHAL NARULA POOJA SAMPAT VINEET HARDA CHIRAG SHAH KUNAL PAREKH DHARAM JOSHI VISHAL NARULA POOJA SAMPAT VINEET HARDA CHIRAG SHAH KUNAL PAREKH GROUP MEMBERS GROUP MEMBERS India’s market potential The Indian toy industry is estimated at about 1.4 billion US dollars and until now has generated only 0.5 per cent of the global market. However, growth of some 15 % promises a rapid rise in this statistic, especially in the context of the growing middle class and increasing demand for quality and luxury goods. In recent years, cities like Ahmedabad, Bangalore, Hyderabad and Pune have become the most important manufacturing sites of the Indian toy industry. Among the local manufacturers in India about 59 % are still focusing on the production of cheap and unbranded toys which appeals to the price-sensitive Indian consumers. In the future it is expected that these companies will shift towards branded toys as well to stay competitive with international companies. Internet retailing is becoming a more and more important distribution channel due to several reasons. Consumers have increasing access to the internet and online retailers often have better merchandise in terms of variety, new launches and the offer of branded toys. The share of internet retailing in sales grew from 1 % in 2007 up to 18 % in 2012. Focus on quality Indian consumers pay more and more attention to high-quality...
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...Beyersdorfer (2013) suggested in 2004, the market size of the toy industry is worth $61% billion in the wholesales revenue, with a steady growth of 4% per year in the retail market for toys. Thousands of toymakers flourish the market to serve global demand while keeping track of the 3 new trends in the industry which are toys demand rise while product life cycles decline, children has less time to play, and lastly increase demand of technology integration in physical toy or online worlds. Changes in conduct of competitors have change as witnessed by manufacturing in Asia, entering diverse retail channels and engaging in heavy marketing efforts. Therefore, we recommends LEGO Group to first, bring back LEGO DUPLO concepts and offer to unexplored market by establish strategic partnerships. Second, increase investment in R&D of new product designs and innovations. Third, adopt internal supply chain monitoring system and LEGO retailers’ system integrator. As external analysis has suggested increase of retail competition sector in the toy industry and this will have effect on LEGO Group because internal analysis shows that firms have high operational costs and as a result the firm is making no profit. By implementing these recommendations LEGO Group will achieve lower operational cost, establish sustained competitive advantages which will led to higher market shares and customer satisfaction. ANALYSIS The nature of the toy industry as analyzed by adopting the Porter (2008) Five Forces...
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...Don Bosco Global College In Partial Requirement In Communication Arts and Skills1 Presented To Ms. Mary Jane B. Medina Samiano, Cyndie A. Gomez, Airasel A Term paper “Defense of the Ancient” “Introduction” DOTA or Defense of the Ancient is a computer game that may cause happiness on the students. DOTA is an online game where you can play with your friends. We all know that DOTA is a well-known inline gaming that many students can be addicted in the game and can cause a damage to their studies and health. It can damage their studies because they choose to play DOTA that to attend their classes instead. It can damage their health too, because of playing of DOTA. They don’t eat on the right time because of playing that may cause ulcer. To their eyes, it may become vague because the play DOTA all day. Sometimes they don’t sleep just to play DOTA all night, it can cause eye abnormalities. The Problem and its background 1.)Family Problem -When there is a problem in their home he/she go to the shop to play DOTA instead of thinking on how to solve their problem. 2.) Peers/Friends -When they’re bored, and when they influence by other. 3.) Laziness in attending their class -Sometimes they didn’t do their assignments that’s why they don’t want to attend their class. 4.) Professional Player - Because this game can make you popular. 5.) Money - if they win in this game, they can ear Objective and Significance ...
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...Ven Ramos Sociology 100 Professor Sellers 4 May 2015 Socialization of Gender Toys R Us has been around for many years. When you go online you will notice that the boys section have action-oriented categories and the girls section has homemaking, beauty and imaginary categories. The baby section is the only one that is not separated by gender. According to the text book Gender is defined as “ psychological, social and cultural aspect of maleness and femaleness”. According to the textbook, “girl toys revolve around themes of domestic, fashion and motherhood.” while “boy toys, are emphasize action and adventure and encourage exploration, competition and aggression”. The four toys that I chose for boys are: Hot wheels, Minecraft, LEGO Train set and Home Depot Deluxe Power Tool Set. The toys that I chose for the girls are: My Little Pony Twilight Sparkle, Barbie, LEGO Friends Dolphin Cruiser and the Wooden Kitchen Center. The Hot wheels cars are different in size and have multiple colors, which are usually dark colors such as black, blue, green etc. The cars can teaches boys how to identify cars and grow up to like them as the boys grow up. Minecraft started out as a videogame that became popular where toys created for boys to play with. The package comes with Steve, Pig, Chestnut Horse, Saddle, two Grass Blocks and two Hay Blocks. The toys mimic the game where boys pretend to be Steve, who is the main character of the game and goes out to the virtual world and builds...
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...The giant wooden activity cube is a toy that has 4 parts by the side and one above. The side parts there are a board, a watch, squares to spin and a rainbow xylophone. While the upper part of a cube there is a spin, slide and the beads. This toy improves more than a part of the child’s development areas. Firstly, it focuses on the cognitive side, as it makes the child to think. He/she will think where to takes the beads to reach the other side. In addition, it also supports the physical development, as the child will start moving his hand and fingers by playing with the whole toy. Furthermore, according to the toy’s age range it is around the age 12 months to 36 months, which means from the age 1 to 3. In my point of view, I see that the toy...
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