ACCT 540 Lecture Notes - Lecture 10: Financial Statement
Document Summary
Attending class and learning the basic process of the game, although we were still fuzzy with the details. Trial days: a lot of trouble logging in (assigned each of us a number so we don"t overlap) Everyone was running the game themselves (split up jobs) Multiple people on the same screen conflict. Slow at using erp and finding the correct actions slight panic. Before real sim: learn to use interface (read through erp presentation, watch videos) Inventory strategy: order exactly the amount of capacity. Pricing strategy: don"t sell under cost; monitor market prices + price our products slightly above market price. Marketing strategy: invest less money because it gets sold anyway (less emphasis) Increasing numbers in sales forecast to maintain enough raw materials for production. Buying more for better selling products (looking at the market report) More detailed analysis of market report: sorting things, usage of data. Increase marketing expense with the price increase (for the specific products)
