fmc group assignment

EXECUTIVE SUMMARYThis final assignment is written as an analytical business report on FUOB Milk Commodities.. The results of data analysis show that milk production sales will continue t

FOREIGN TRADE UNIVERSITY

FALCULTY OF INTERNATIONAL EDUCATION

- 

-FINAL ASSIGNMENT

Haiphong, 2021

EXECUTIVE SUMMARY

This final assignment is written as an analytical business report on FUOB Milk Commodities This report provides analysis based on the company's available data and gives direction for the upcoming business plan The results of data analysis show that milk production sales will continue to increase in the coming years Further analysis shows that by offering differentiated products, companies can remain competitive The report shows that the current position of FUOB Milk Commodities Pty Ltd is successful, however there are weaknesses that need to be reviewed by the general manager and other decision makers in the company The following recommendations discussed in the report include:

A EXCEL FOR BUSINESS INTELLIGENCE: FMC’S DATA GRAPHS

B DATA COLLECTION AND SAMPLING FOR MARKET RESEARCH: USING SURVEY METHOD FOR GATHERING THE DATA

C GENERAL QUESTIONS

TABLE OF CONTENTS

EXECUTIVE SUMMARY 2

INTRODUCTION 4

A EXCEL FOR BUSINESS INTELLIGENCE: FMC’S DATA GRAPHS 5

Figure 1: 5

Figure 2: 6

Figure 3: 7

B DATA COLLECTION AND SAMPLING FOR MARKET RESEARCH: USING SURVEY METHOD FOR GATHERING THE DATA 8

I Survey Method 8

II Why Choose Survey Method 10

III Survey Questionnaire Design 11

IV The Advantages and Disadvantaged of Survey Method 12

C GENERAL QUESTIONS 14

I The Important of Information in Organizations 14

II Recommendation on How FMC could be Modernized 14

III Web Analytics, Social Network Analysis and Customer Relationship Management 15

CONCLUSION 17

REFERENCE LIST 18

APPENDIX 19

EXCEL FILE 20

FUOB Milk Commodities Pty Ltd (FMC) is a successful company that manufactures a wide range of milk products as well as a variety of specialized milk products, which it distributes to major retailers FUOB Milk Commodities

is lucky to be able to sell their goods to some of these new estates as urban development of new housing expands further out into the metropolitan area The FMC is considering develop small unit of UHT flavored milk for the local market and they wants to evaluate the sales statistics for the past year and the current year to predict future sales The following report will analyze the company's data and point out the direction for FMC's business plan in the coming time

Excel data analysis, business process models, and general issues about the company and its progress towards a more technological business environment will be covered throughout this report by analyzing the required data

A EXCEL FOR BUSINESS INTELLIGENCE

FMC’S DATA GRAPHS

Figure 1: Total Orders by Customers for Week 32

This graph (Figure 1) represents the total orders for week 32, from 2016 to the projected year of 2018 Woolworths Petrol, Shell, 7Eleven, and Joe's Milk Bar are among the customers of FUOB Milk Commodities

Overall, we can see that Woolworths Petrol is the unit with the most orders in all

3 years 2016, 2017, 2018 In contrast, Joe's Milk Bar is the unit with the fewest orders of all

Looking more closely at the chart, we can see that the number of orders of stores tends to increase steadily year on year 2016 was the worst source of income for stores, with no place receiving more than 15 orders Woolworths Petrol is the store with the fastest growth when in 2016 they received 15 orders and it increased to 21 orders in 2018 In contrast, Joe's Milk Bar did not increase much, only 2 orders difference in the 3-year period Shell and 7Eleven have relatively comparable business growth

Besides, Woolworths Petrol is the biggest local store by consistently receiving the most orders Shell and 7Eleven have an equal competition as their orders for

3 years are almost equal Joe's Milk Bar is the smallest store of all The store's 3-year order volume is only a third of that of Woolworths

Figure 2: Milk Productions Week 32 (2016-2018)

Unit: Liter

This column chart shows the liters ordered of the different milk products provided by United Milk Commodities, from 2016 to the projected year of 2018

Overall, WM was the most consumed milk out of the 8 milks within 3 years On the contrary, not many consumers use OM milk

Going into the analysis, we can see that the amount of milk production within 3 years tends to increase There was a spike in WM milk production from 2016 to

2018 (nearly 200 liters increased to above 400 liters) In second place is RF milk with nearly 150 liters produced in 2016 and 400 liters produced in 2018 Five types of milk A2, FM, SM, UM all have production levels in 2018 ranging from 100-200 liters Only OM milk is produced in small quantities, about 50 liters

Figure 3: Total Amount of Liters Ordered from All of the Milk Products

This column chart represents the total amount of liters ordered from all of the milk products from 2016 to the projected year of 2018

We can see that the total number of liters of milk placed in 3 years tends to increase In 2016, total milk was ordered around 600 liters But by 2018, the number had jumped to 1600 liters, an increase of 266% compared to 3 years ago

B DATA COLLECTION AND SAMPLING FOR

MARKET RESEARCH

USING SURVEY METHOD FOR GATHERING THE

DATA

I Survey Method

1 Definition

The survey method of data gathering is a sort of descriptive research, and it is probably the most often used of the major approaches Surveys aren't very useful for analyzing actual social behavior, but they are a great method to learn about someone's perspective on a topic

A survey, like an interview, may include closed-ended, open-ended, or a combination of the two types of questions "Closed-ended questions" are those that only allow the respondent to choose from a limited set of options Closed-ended questions include multiple choice, check all that apply, and rating scale questions "Open-ended questions" are just that: questions that allow people to write their own answers

In psychology, surveys are a powerful instrument Although a researcher may choose to conduct a survey on a small group of people as the entirety of their study, surveys are frequently employed in experimental research as well A researcher may, for example, assign one group of people to an experimental condition in which they are urged to focus on all the unpleasant aspects of their week in order to produce a negative mood, while another group is assigned to a control group in which they read a book chapter He has both groups fill out a survey regarding their current emotions after the mood induction The mood induction condition is the independent (manipulated) variable in this case, while the emotion survey responses are the dependent variable

2 Some Ways to Survey

 Personal Interview: Many academics believe that the ideal way to

survey people is through a personal interview, in which an interviewer asks prepared questions to elicit information from a responder The advantage of a personal interview is that it has a greater predicted response rate than other data collection methods Furthermore, because the interviewer may clarify misunderstandings when asked, there will likely be fewer wrong responses as a result of respondents misinterpreting some questions However, the interviewer must be cautious not to say too much in order to avoid biasing the response To minimize biases like these and to get the most out of a personal interview, the interviewer must

be well-trained in correct interviewing techniques and well-informed on the study's aim Personal interviews have one major disadvantage: they are costly, especially when travel is involved

 Telephone Interview: A telephone interview is normally less expensive,

but it is also less personal, and the projected response rate is lower Many people will refuse to participate in telephone surveys unless the topic is of interest to them Telemarketers trying to sell something compound the problem

 Self-Administered Survey: The self-administered questionnaire, which

is frequently distributed to a sample of people, is a third popular technique of data collecting This is a low-cost method of conducting a survey, which makes it appealing when the number of persons to be polled is huge Self-administered questionnaires, on the other hand, typically have a poor response rate and a significant proportion of wrong responses due to respondents misinterpreting some questions

 Questionnaire Design: A questionnaire must be well prepared whether it

is self-administered or completed by an interviewer Knowledge, experience, time, and money are all required for proper questionnaire design Following are some basic points to consider when designing a questionnaire

1 First and foremost, the questionnaire should be kept as short as possible to encourage respondents to complete it Most people are unwilling to spend much time filling out a questionnaire

2 The questions themselves should also be short, as well as simply and clearly worded, to enable respondents to answer quickly, correctly, and without ambiguity

3 Questionnaires often begin with simple demographic questions to help respondents get started and become comfortable quickly

4 Dichotomous questions (questions with only two possible responses such as “yes” and “no” and multiple-choice questions)

are useful and popular because of their simplicity, but they also have possible shortcomings

5 Open-ended questions provide an opportunity for respondents to express opinions more fully, but they are time consuming and more difficult to tabulate and analyze

6 Avoid using leading questions, such as “Wouldn’t you agree that the statistics exam was too difficult?” These types of questions tend

to lead the respondent to a particular answer

7 Time permitting, it is useful to pretest a questionnaire on a small number of people in order to uncover potential problems such as ambiguous wording

8 Finally, when preparing the questions, think about how you intend

to tabulate and analyze the response First, determine whether you are soliciting values for an interval variable or a nominal variable Then consider which type of statistical techniques — descriptive or inferential — you intend to apply to the data to be collected, and note the requirements of the specific techniques to be used

II Why Choose Survey Method?

- There are 3 important reasons why a business conducts a survey:

 Get to know consumers

 Means to communicate with customers

 Improve product quality

- And when compared to FMC's situation, these are the issues the company is facing:

 Inadequate level of connectivity between the business and the clients

 Poor product promotion

1 Get to know consumers

- Survey methods can be used to understand consumers Understanding the consumer is always important to the success of any product

- If businesses design a good survey, they can get detailed information regarding what consumers tend to like, what they like about a product As a result, businesses will have a direction to improve and develop better products, suitable for consumers and bring higher sales

- Besides, understanding consumers can help businesses implement appropriate communication campaigns, bringing the highest efficiency for each campaign

2 Means to communicate with customers

- A survey will be a place for customers to easily make comments and reviews about an organization There is always a long distance between businesses and customers, making communication between the two parties not easy

- Surveys can bring up important topics for customers to express their opinions

on such as product quality, customer service, etc

- This can help you check your customers' reactions to what you're doing

3 Improve product quality

- A company can also use survey research to get customer feedback on a product It can be positive or negative feedback, criticism of features or wishes for new features This can help companies find ways to improve and develop their products to best serve consumers

III Survey Questionnaire Design

Survey Link: https://forms.gle/poWNyZmp8xzrWr5z6

IV The Advantages and Disadvantages of Survey Method

1 Advantages

One of the great benefits of using surveys in psychological research is that they allow researchers to collect large amounts of data relatively quickly and cheaply A survey can be administered as a structured interview or as a self-report measure, and data can be collected in person, by phone, or on a computer

 Surveys allow researchers to collect large amounts of data in a relatively short period of time

 Surveys are less expensive than many other data collection techniques

 Surveys can be created quickly and easily

 Surveys can be used to gather information about a wide range of facts, including personal facts, attitudes, past behaviors, and opinions

2 Disadvantages

One potential problem with written surveys is non-response bias Experts say a return of 85% or more is considered excellent, but anything below 60% can have a serious impact on the representativeness of the sample

 Poor survey construction and management can undermine well-designed studies

 The response options provided in a survey may not accurately reflect how participants feel

 Although random sampling is often used to select participants, response rates can skew survey results

 The social desire bias can cause people to react in a way that makes them look better than they really are For example, a respondent may report that they engage in healthier behaviors than they would in real life

C GENERAL QUESTIONS

I The Important of Information in Organizations

The most crucial aspect in a company's growth is information It is critical in providing a database for the entire firm, from the receipt of raw materials to their conversion into completed commodities Managers must have access to relevant data that expands their understanding of internal operations and the external business environment This knowledge minimizes ambiguity and allows managers to make more sensible and practical decisions Without relevant information, most managerial decisions will be based on trial and error, reducing efficiency and profitability while increasing uncertainty inside the business

Taking FMC as an example As we all know, milk is a popular fast-moving commodity in the market, therefore you'll need to put in a lot of effort to earn your consumers' trust, which is solely based on product quality and delivery A decision support system is required for a specific strategy in the dairy industry that deals with particularly sophisticated supply chain planning to get milk and milk-related commodities to the right place at the right time To plan and execute a strong supply chain, new skills must be created FMC, as a major player in the dairy industry, requires all relevant data in order to develop a dairy business strategy For decoding the supply chain route, information on suppliers and distributors, as well as their locations, is critical FMC builds on this approach to develop its business by applying the principles to determine all the components Operations management is a crucial tool for running any type of business

Because of the large range of dairy products that FMC offers, it might be difficult to keep track of product availability, expiry dates, delivery issues, defects and claims, and so on in an organization like FMC The information that allows the organization to make informed decisions will benefit it; but, if the information in the FMC is incorrect or inadequate, it can lead to poor judgments and cause significant harm monetary contribution to the organization

II Recommendation on How FMC could Be Modernized

The emergence of information technology services has made information flow easier and faster in the 21st century Many businesses use IT to sell their products and develop their networks in order to attract clients FMC should strengthen its data gathering system by linking all suppliers and distributors to