Mikes Bikes Intro Simulation: A Detailed Reflection Report

This reflection report provides an in-depth analysis of a Single Player Simulation project using Mike's Bikes Intro, as provided by Smartsims. It assesses the understanding of simulation programme operation through a year-by-year breakdown of decisions and outcomes from 2018 to 2021. The report covers key financial results, market research, capacity management, and strategic decision-making related to branding, advertising, and production planning. It also highlights lessons learned, such as the importance of entering new markets early and the need for incremental changes in business strategy. The simulation process improved skills in marketing and product development, emphasizing the balance between production efficiency, capacity, and profitability. Desklib provides a platform to access past papers and solved assignments for students.

Reflection Report on the Operation in Single Player Simulation Mikes Bikes Intro As Provided By
Smartsims

Contents
1. Introduction..............................................................................................................................3
2. First Year Decision (2018).......................................................................................................3
3. Second Year Decision (2019)...................................................................................................5
4. Third Year Decision (2020).....................................................................................................7
5. Fourth Year Decision (2021)..................................................................................................13
6. Conclusion and Future Work.................................................................................................19
References......................................................................................................................................20
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1. Introduction
This reflection report aims to assess the understanding of simulation programme
operation in Single Player simulation Mike’s Bikes Intro as provided by Smart Sims. Here I am
going to discuss and analyze the Single Player Simulation process undertaken by me during the
simulation project. Throughout the completion of simulation project, the performance is
analyzed.
2. First Year Decision (2018)
Key Financial Results
Parta Bikes MountainTop Cycles
Shareholder Value (SHV) $13.42 $13.96
Retail Sales $12,810,000 $13,279,100
Profit After Tax $1,538,110 $1,639,155
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The challenge for me in this year is to create a firm-level branding and distribution plan
for my current bike.
Market Research Report
In 2019, actual demand for Mountain segment is 37,073 units. But for other segments
such as Road and Youth segments no demands available in market place of 2019. The sensitivity
of the segments to the various product dimensions were analyzed. The low number of advertising
is expected for "Road segments". As the quality of the road segment is high it does not need to
advertise more rather than other two segments.
Branding both Mountain and Youth segments is necessary to achieve the challenge in
2019. So I have chosen branding option for my product. I thought it will boost the effectiveness
of the direct product marketing so I took the Branding as $2,000,000. When I chose branding i
realized that i could brand my product through different media channels.
Segment TV Internet Magazines
Road 10% 40% 60%
Mountain 40% 30% 50%
Youth 70% 20% 20%
Max Advertising $3,000,000
$3,000,00
0 $3,000,000
Max PR $3,000,000
$3,000,00
0 $3,000,000
The above table shows that the usage of different advertisement by medias for my
product to reach audiences.
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In Video 2, I learned that how to make the first year decision. It is much better to choose
one of either TV or Internet when on a small budget. My budget is $10, 00,000 for Advertising
for Mountain Bike. So I chose, $3, 00,000 for TV and $7, 00, 000 for Magazines. I could not
chose internet for mall budget.
3. Second Year Decision (2019)
Parta
Bikes MountainTop Cycles
Financial Results
Shareholder Value (SHV) $13.42 $13.96
Cumulative Change in SHV 18% 23%
Internal Results
Capacity (SCU) 20,000 20,000
Wastage 15% 15%
Idle Time 40% 39%
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Efficiency Index 0.75 0.75
Quality Index 0.75 0.75
No. of Products 1 1
Innovation and Learning
Process (Quality / Efficiency) $275,000 $275,000
No. of Product Devpts (2019) 0 0
No. of Product Devpts (Total) 0 0
Demand Forecast Accuracy 96% 91%
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The above screenshot shows that my forecast net income is $45,956 higher than the
actual result of year 2019.
4. Third Year Decision (2020)
Key Financial Results
Parta Bikes MountainTop Cycles
Shareholder Value (SHV) $14.90 $15.09
Retail Sales $13,447,800 $13,715,100
Profit After Tax $1,585,944 $1,490,151
Advertising
Buying orders, limit, preparing, compensation, staff numbers, plant improvement and
administration. These Ire regions that the Operational Manager must have the capacity to
comprehend and convey unmistakably going to push for financing where it was required as
capital was a constrained asset, the more one area would need, the more avocation that
supervisor needed to present or they would be denied by alternate individuals in any event that is
the means by which our gathering worked. It was essential for every division make a beeline for
exhibit their case to the gathering and after that a gathering accord came to about the levels of
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subsidizing that would be appropriate on the grounds that everybody was influenced by
everybody else choices so I felt this would be reasonable.
Capacity Management Strategy
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In this phase, I had to check whether i have enough capacity, too little capacity or too
much capacity. By using the Production Planner Screen, I analyzed the capacity. As the idle
capacity is between the 0% and 10% of SCU. So, I have enough capacity.
Parta Bikes MountainTop Cycles
Financial Results
Shareholder Value (SHV) $14.90 $15.09
Cumulative Change in
SHV 32% 33%
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Share Price $14.90 $15.09
Dividend Per Share $0.00 $0.00
Number of Shares 1,000,000 1,000,000
Market Capitalization $14,903,158 $15,086,979
Total Shareholder Value $14,903,158 $15,086,979
Retail Sales $13,447,800 $13,715,100
Wholesale Sales $8,741,070 $8,732,443
Gross Margin $3,965,682 $4,501,849
Profit After Tax $1,585,944 $1,490,151
We have the shareholder value $14.90 and it is little bit lower than the Mountain Top
Cycles. We have Retails sales of Parta Bikes over $13,447,800, wholesale sales as $8,741,070,
Gross margin value is over $3,965,682 and the Profit gained after paying tax is $1,585,944. So
we have gained more profit when comparing to the Mountain Top, Cycles. Profit is the major
factor that drives shareholder value. Based on this, we are in the right path.
Market Summary Current/2020
In this report, various information about all products of the market were provided. In
Road Segment period, there were no sales done. Our product name is RC_RockHopper and the
total number of sales is 21,690, it is higher than Mountain Top Cycles. In previous delivery it
was 0.94 and now the current delivery status is 1.00.
Product Summary
Total sales units are 21,690. But the Actual Production units are more than this such as
22,124. As a factory, we can vary the actual production by up to 10%. Due to this, we are able to
do clear all the demands in the last year. It is shown in the result as Lost Sales = 0.
Based on the decision we have taken in this last year, the retail sales was changed. Now
again I need to make the second year decisions to improve my challenge. I have made the last
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period. In Retail; price, it was set to 620. SO the price impact gives effective result. So I have not
changed the Retail Price for second year.
Pricing Second Year
Rather than cutting down the price, i have focused on improving the marketing decision
in this year. So that the Forecast sales units is set based on the previous sales figures, demand
and expected changes in upcoming year. So i changed the Forecast Sales unit as 22,124.
Production Planner
In Forecast Sales, we have to sell 22,124 units. But awe have already 434 units in stocks.
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Mountain Segment
Product
Name
Firm Sales Lost
Sales*
Market
Share*
Retail
Price
Awaren
ess
PR
RC_RockH
opper
Parta Bikes 21,69
0
0 53.8% $620 0.19 0.0
4
_MT_Rock
Hopper
MountainTo
p Cycles
18,66
0
0 46.2% $735 0.18 0.0
7
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