BVN Industries Where the best quality, creates the best experience!
description
Transcript of BVN Industries Where the best quality, creates the best experience!
![Page 1: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/1.jpg)
BVN Industries
Where the best quality, creates the best experience!
Victoria GalvinNisha AkalananaBrian Freeman
![Page 2: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/2.jpg)
Introduction Approximately four years ago the three of us were
asked to take over this company. From there we went in rather blind with the
industry. We were unsure of the economy, and with little
experience in the industry of outdoor lighting and picture frames
We weighed all our options and with great experience in marketing, management, and finance we decided it was a step we were willing to take.
![Page 3: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/3.jpg)
Introduction (cont.) We are happy to present our triumphs and
realizations over the past four years. It was a learning and growing experience for
all, but we truly believe you can not grow any further without learning as you go.
We are pleased with where are company is ranked in comparison to its competition, and we would love the opportunity to share with you our journey.
![Page 4: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/4.jpg)
MarketingVictoria Galvin; CMO
![Page 5: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/5.jpg)
Overview When first starting out BVN Industries
unanimously decided to focus on quality. While evaluating various companies
who seem to use quality well, we finalized our decisions.
We researched the top companies for product quality. Qualit
y
Apple
Nordstrom
Amazon
![Page 6: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/6.jpg)
Overview (cont.) Upon discussion we concluded that
although quality may raise price, we assume consumers would be willing to pay the price for a product that would last longer.
Some say higher customer satisfaction leads to higher customer loyalty, which in turn, will potentially lead to higher profits.
![Page 7: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/7.jpg)
Areas of Concentration Target Markets- Tri-state Marketing Strategies
Advertising Research and Development
Pricing Strategies Company’s Long Term Plans Customer Impact
![Page 8: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/8.jpg)
Target Market-Digital Photo Viewer We were looking to distribute the Digital Photo Viewer to
consumers between the ages of 16-20 and 25-40. We figured ages 16-20 are around the age to starting making
their own money, while also being interested in technology, and would be interested in buying our product.
The majority of consumers in the 25-40 range have now bought their own home, and have probably started to have their own family. This would give this age group more reason to have a product to display their family photos throughout their house, without having the bulky photo albums.
Although these were our target markets, we also saw consumers in the ages above 40. Though not a huge market due to the technology, this age group were interested in having a display of their family photos.
![Page 9: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/9.jpg)
Target Market-Outdoor Light Fixture We wanted to focus on marketing our products to
younger home owners. We thought with the younger home owners, they
are likely to have kids as well host gatherings at their home. In this case you are more apt to be outside longer enjoying nice weather and so on.
We wanted families who were going to be spending a lot of time outside, with the reasoning that they would need more light fixtures than the average house.
![Page 10: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/10.jpg)
Marketing Strategies In the following slide you will see we put
most of our advertising dollars in web marketing. After much research we decided newspaper and magazines were a dying sector of marketing.
![Page 11: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/11.jpg)
Product 1 Q 1 Q 2 Q 3 Q 4 Q 5 Q 6 Q 7 Q 8 Q 9 Q 10 Q 11 Q 12 Q 13
Price 65 65 66 66 68 68 70 70 72 74 74 74 75Price Change 1 0 1 0 2 0 2 0 2 2 0 0 1
Quality 1.85 2.00 2.30 2.65 3.10 3.30 3.30 3.45 3.65 3.65 3.65 3.65 3.75News 6 3 0 0 0 0 0 0 0 0 0 0 0
Magazine 4 4 2 2 3 4 4 4 4 4 4 5 5
WWW 25,000 25,000 27,000 27,00027,00
0 27,000 27,000 27,000 27,000 30,000 33,000 33,000 33,000
Ad MessageQualityQuality QualityQualityQualit
y Quality Quality Quality Quality Quality Quality Quality QualitySales Forecast 6,000 6,250 9,000 6,650 7,650 8,000 10,700 8,661 12,000 11,900 8,000 10,000 10,000
Actual Sales 6,000 6,250 5,748 7,977 8,225 8,100 8,661 11,089 10,010 7,882 10,067 10,536 10,378Net Inventory -330 -811 2,502 525 -415 -1,545 2,089 -1,546 -1,725 4,018 1,451 415 1,887
Product 2 Q 1 Q 2 Q 3 Q 4 Q 5 Q 6 Q 7 Q 8 Q 9 Q 10 Q 11 Q 12 Q 13
Price 50 50 51 51 53 53 55 55 57 58 62 62 63Price Change 3 0 1 0 2 0 2 0 2 1 4 0 1
Quality 3.65 4.00 4.30 4.40 4.60 4.80 4.80 4.95 5.10 5.10 5.25 5.25 5.35News 6 3 0 0 0 0 0 0 0 0 0 0 0
Magazine 4 4 2 1 2 3 3 3 3 4 4 5 5
WWW 25,000 25,000 27,000 27,00027,00
0 27,000 27,000 27,000 27,000 30,000 33,000 33,000 33,000
Ad MessageQualityQuality QualityQualityQualit
y Quality Quality Quality Quality Quality Quality Quality QualitySales Forecast 5,100 5,400 7,500 4,306 3,000 4,000 7,700 7,412 10,000 6,900 9,000 9,000 12,000
Actual Sales 5,100 5,400 5,394 4,306 3,000 4,000 7,412 7,188 6,399 6,701 8,083 10,917 8,000Net Inventory -55 -981 1,806 -2,346 -1,359 -2,751 88 -3,690 501 -2,345 2,417 -1,142 -110
![Page 12: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/12.jpg)
Company’s Long Term Plans Our company would like to branch out in the WWW marketing. We will
continue along doing a few ads in the magazine industry, while promoting ourselves mainly through web.
We will be planning an expansion in Q17 to accommodate our company to make various products within each category.
We will be making digital photo viewers of various sizes to meet the needs of the younger consumers.
We will also be making different styles of lighting fixtures so our loyal consumers will be able to purchase an item that best fits their lifestyle.
Along with WWW marketing, we will begin promoting at local home and garden shows with our light fixtures. As a company we have decided the popularity of these showcases will allow us to reach more of our target market.
![Page 13: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/13.jpg)
Customer Preference As a whole we wanted to focus our
company on quality. I believe consumers wanted our products and were willing to pay the price due to our quality.
With quality we are able to guarantee our product, and stand behind our product with great pride.
![Page 14: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/14.jpg)
Community Involvement We have recently partnered with Habitat for
Humanity to give outdoor fixtures and lighting to the houses built within our community.
We felt that this was important to give back to our community since they have helped us grow beyond what we could have imagined.
In Quarter 20, after our expansion we have plans to join with Boys and Girls Club of America to give various young adults the opportunity to have a successful career.
![Page 15: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/15.jpg)
BVN Industries Presents the new Viking Outdoor Light Fixture
513.548.6852www.bvnindustries.com
BVNIndustries @BVNIndustries
![Page 16: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/16.jpg)
Sources for Research & Development http://
money.cnn.com/magazines/fortune/mostadmired/2011/best_worst/best8.html
http://www.acrwebsite.org/topic.asp?artid=278
![Page 17: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/17.jpg)
FinancialNisha Akalanana; CFO
![Page 18: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/18.jpg)
Cash Flow
1 2 3 4
-1,000,000
-500,000
0
500,000
1,000,000
1,500,000
2,000,000
Net Cash BalanceShort-Term LoanEnd Cash Balance
![Page 19: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/19.jpg)
Income
1 2 3 40
1,000,0002,000,0003,000,0004,000,0005,000,0006,000,000
Net Sales Mfg Cost of Goods Sold
![Page 20: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/20.jpg)
Balance Sheet
1 2 3 40
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
Total AssetsTotal LiabilitiesTotal Owner Equity
![Page 21: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/21.jpg)
Product Sales vs. Net Income
1 2 3 4$0
$500,000$1,000,000$1,500,000$2,000,000$2,500,000$3,000,000
P1 SalesP2 SalesNet Income
![Page 22: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/22.jpg)
ROA and Debt-Asset Ratio
1 2 3 40.0000
0.5000
1.0000
1.5000
2.0000
2.5000
Debt To Total AssetReturn On Total Asset
![Page 23: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/23.jpg)
Cost Control Measures Raw Materials: Ordered according to our
forecasted sales for future quarters. Manufacturing: Labor: Hired enough for next quarter. Let
staff work overtime if understaffed. If overstaffed, laid off excess labor.
Warehouse: Built extra production units according to expected demand.
Marketing: Concentrated on web marketing.
![Page 24: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/24.jpg)
Company Strengths Products: Quality Marketing: Web Based Marketing Personnel: Constantly Trained and
Improved Working Conditions
![Page 25: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/25.jpg)
Areas of Improvement Products:
Quality to beat competition. Marketing:
Increased web presence. Personnel:
Increased workforce so that there was no overtime (which could lead to low productivity levels).
![Page 26: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/26.jpg)
Future Operating Plan Concentrate in quality over quantity. Continue training workforce and
maintain manufacturing plant. Increase advertisement to reach larger
demography Invest company’s net profit. Pay off all mortgages and look at
possible expansion into a different market area.
![Page 27: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/27.jpg)
Future BudgetYear 5 Year 6
Revenue 6, 200, 000 7, 600, 000Manufacturing Costs 3, 500, 000 4, 000, 000Selling and Administrative Exp.
300, 000 300, 000
Warehouse Exp. 50, 000 50, 000Other Exp. 20, 000 20, 000Expected Gross Profit 2, 330, 000 3, 230, 000
![Page 28: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/28.jpg)
OperationsBrian Freeman; COO
![Page 29: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/29.jpg)
Production Plan was to produce equal amount of both Average production for Digital Photo Viewer
Year 1-6,625, Year 2-7,888, Year 3-9,728 Year 4-9,363
Average productions of Outdoor light fixture Year 1-5,050, Year 2-4900, Year 3-8025Year 4-9275
![Page 30: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/30.jpg)
Production cont. We wanted to have happy employees Spent on average for maintenance
Year 1 $5,537.50 Year 2-$4,737.50 Year 3- $7,387.75 Year $4-8,00
Only had to subcontract for one quarter On average cost to produce both products
Year 1-$42.41, Year 2-$43.39, Year 3-$42.53 Year 4-$43.41
![Page 31: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/31.jpg)
Inventory Our original plan was to keep at least
1500 of each We switched to order as need for both
products Our finished good was on the go
For most of the quarters we should all the products we produced
![Page 32: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/32.jpg)
Raw Material On average raw material available
Digital Photo viewer Year 1-7563, Year 2-9,793, Year 3-11,218,
Year 4- 12,937 Outdoor Light fixture
Year 1 5,800 Year 2-6,375 Year 3-11,300, Year 4-11,450
![Page 33: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/33.jpg)
Raw Material cont. On average raw material ordered
Digital Photo viewers Year 1-5,675, Year 2-8,600, Year 3-10,188,
Year 4-8,500 Outdoor light fixture
Year 1-4,450, Year 2-5,500, Year 3-9,900 Year 4-10,000
![Page 34: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/34.jpg)
Inventory Costs On average to order raw materials
Year 1-96,562.50 Year 2-211146.50 Year 3-178,827.50 Year 4-198,862.50
Increased warehouse size by 108 percent Went from 11,100 to 23,100
On average warehouse cost Year 1- 6,810, Year 2-2,658, Year 3-
4,618.67 Year 4-11,690.75
![Page 35: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/35.jpg)
Workforce Our workforce doubled Did not have to lay many people off Our worker productivity increased
throughout the years Product one workers increased 4% Product two workers increased 4%
![Page 36: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/36.jpg)
Workforce Costs On labor, quality and overhead on
average we spent Year 1-355,128 Year 2-490,738.25 Year 3-533,740 Year 4-0560,325.50
![Page 37: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/37.jpg)
Workforce cont. On average spent on training
Year 1$-5,366.50 Year 2-$6,212.50, Year 3-$7,150 Year 4-$7,900
We wanted to have the most trained and skilled workers
Learned how to utilize workers better
![Page 38: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/38.jpg)
Our Competitors Our direct competion was QAD Solutions Our indirect competion was JTM
Enterprise
![Page 39: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/39.jpg)
Quality For the Digital Photo Viewer on average
we invested Year 1-2.20, Year 2-3.29 Year 3-3.65 Year
4-3.90 For the Outdoor light fixture on average
we invested Year 1-4.09, Year 2-4.78, Year 3-5.18 Year
4-5.50
![Page 40: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/40.jpg)
Quality Cont.
1 2 3 4 5 6 7 80.00
1.00
2.00
3.00
4.00
5.00
6.00
Product 1Product 2
TEAMS
QUALITY IN DOLLARS
![Page 41: BVN Industries Where the best quality, creates the best experience!](https://reader036.fdocuments.in/reader036/viewer/2022081514/56816141550346895dd0b18d/html5/thumbnails/41.jpg)
BVN IndustriesWe thank you for taking some time with
us today, and we hope you enjoyed learning about BVN Industries!
At this time we would like to offer up the opportunity to ask any questions.