Business Advisory

Assignment Taken

i) Formulate a product strategy for the chosen foreign market. ii) Define shipping method & International commercial terms (INCOTERMs) also advisewhich will be best in the interest of Ramalingam foods

Case Understanding

Ramalingam Foods the successful South Indian fast-food restaurant created a powdered form of Idli-dosa batter which instantly became a hit in India and now owing to the cash crunch Ramalingam foods need to extend its business internationally. The company needs proper forecasting tool to have less demand fidelity and more sales accuracy.

BCS Solution Summary

Analysing the market demand, the culture and data of countries such as Canada, South East Asian & Middle East countries. We have decided to expand in Middle Eastern countries the reason for which are 1] Indian population is being growing in these countries 2] Export cost 3] The resonating food palate of the native people  International Market Expansion plan Steps to be taken: 1] Website designing of Ramalingam Foods by IT department 2] Getting International License Key, Import Export Code (IEC). 3] Deciding on to distribution channels & transport ways 4] Creating buzz in the country by marketing department. 5] Actual sales.

Solution

Analysing the market demand, the culture and data of countries such as Canada, South East Asian & Middle East countries. We have decided to expand in Middle Eastern countries the reason for which are

1] Indian population is being growing in these countries

2] Export cost

3] The resonating food palate of the native people

• International Market Expansion plan

Steps to be taken:

1] Website designing of Ramalingam Foods by IT department

2] Getting International License Key, Import Export Code (IEC).

3] Deciding on to distribution channels & transport ways

4] Creating buzz in the country by marketing department.

5] Actual sales.

 

Finance Department:

To manage the financial division, we recommend a cloud-based financial management system which would help them to monitor sales, demand & also create financial reports also it can be accessed anywhere.

Transport:

For Shipping solutions suggested by Supply chain management, we plan to collaborate with logistics service providers and carriers to collaboratively manage the streamline the end-to-end process of transporting goods especially those working in business within the Middle East

Human Resource:

Hiring people for various departments which include

1] Marketing

2] Supply chain

3]IT support

4] Workers

We also suggest Cloud based software to store, assess performance of people & also for payments

 

Marketing Department:

Designing a promotional strategy to implement & watch over the sales of the company.

IT department:

Managing and providing support to every software and also design the website. Also real time package delivery with locations would be provided on app which is going to be created by IT department

 

 

Timelines for the events:

Permissions to trade: 5-6 months

Simultaneous website development (6 months) & app development (1 year)

Hiring of employees (2-3 months)

Collaboration with supply chain (1-2months)

 

Budget Allocation

Marketing Budget: 10 crores

HR budget: 5 crores

IT budget: 15 crores

Opening of stores: 20 crores

Conclusion

Ramalingam Foods should go with international expansion plan in Middle East.

Attached File Details