The video below will demonstrate how to make a Sales Forecast for an existing product and a new product in MikesBikes Introduction, as well as the complementary production decisions for both. We have provided you with the script for the video below to read through: “This video will demonstrate how to make a Sales Forecast … Continue reading How to Forecast Sales in MikesBikes Introduction
The tech start up industry in Boston and New England is making a strong comeback after many years of stunted growth. To gain an edge in this competitive industry, recent business graduates from New England universities need something to make them stand out from the crowd. Engaging lectures, hands-on lab sessions, and relevant case studies … Continue reading How Business Simulations Help Graduates Get Ahead In New England’s Tech Industry
“Branding is simply a more efficient way to sell things.” -Al Ries Here are the Top 3 reasons why Branding is important in MikesBikes: 1. Branding increases the effectiveness of your product advertising and results in increased product awareness. 2. In the next period, consumers “forget” the advertising to some extent, but any new branding … Continue reading Question of the week: Why is spending in Branding important?
Are you a MikesBikes SuperFan? Take one of the Quizzes below for the opportunity to be awarded the title of MikesBikes SuperFan and win one of two US$50 Cash Prizes! Participants have up to three attempts to answer the most correct questions in the fastest time. Like the Smartsims Facebook Page to receive updates and winner … Continue reading MikesBikes SuperFan Quiz Competition
Increasing demands on instructors and pressure on tertiary Institutions to provide work-ready graduates, instructors are looking for new ways to engage their students as a means of ensuring success. What is action learning? Action learning is not one specific teaching method, but rather a philosophy and an approach which encourages action within a team environment … Continue reading Why Action Learning is Essential for Teaching Today’s Students
Manufacturing cycle time in MikesBikes Advanced is the time from when an order is received to the factory to when it leaves the factory (to go to the warehouse). It is often measured in weeks and indicates the responsiveness of the production process. While simply holding finished goods stocks allow rapid fulfillment of a customer’s … Continue reading Question of the Week: How do we reduce our Manufacturing Cycle Time?
The world is continually becoming smaller, and today’s students face the very real challenge of competing for jobs in a global marketplace where languages, culture and hands-on experience are critical to a successful job application. Many business students in Boston and other business school hubs across the United States find it difficult to secure a … Continue reading 7 Reasons Business Simulations Help U.S. Students Succeed in a Global Marketplace
The Product Specs is a statement of how a design is made, what it is intended to do and if it complies with the preferences of each market segment. The ideal product attribute levels desired by each segment and the actual attribute levels for all products on the market are in the Market Segments and … Continue reading Question of the week: What factors influence the Products Specs Index in the Market Summary Report?
We are proud to announce that 8 Smartsims Business Simulation users entered this year’s QS World Ranking’s Top 150 Schools in Social Sciences and Management. A big congratulations from all of us here at Smartsims! The QS World Rankings by Subject ranks the world’s top universities in individual subject areas. Each of the subject rankings is … Continue reading 2017 QS World University Rankings
In MikesBikes, as in real life, your factory is most effective when the capacity of your workers is well matched to the capacity of your plant. The formula used to calculate your Total Capacity (SCU) is: Total Capacity (SCU) = √ (Factory Workforce Capacity SCU * Plant Capacity SCU) This equation allows you to emphasize one form … Continue reading Question of the Week: How do we ensure that our factory is operating at its optimum level?