Ops M1

Strategy Development

For this assignment I have to create a strategic development paper for my business opportunity for my company called JLD, LLC. In order for a business to be success the owners or managers have to do research and brainstorm ideas for the company. “These four things: problem, solution, market, and identity, are your business strategy. Don’t pull them apart. It’s the interrelationship between them that drives your business. Each affects the other three. Real businesses solve problems and to develop an effective business strategy, they have to know what problem they solve (Berry, 2018).”

The reason for creating the TrackUs application is due to truck drivers complaining about the wait time at warehouses and distribution centers. The problem is that since many truck drivers have the electronic logging devices installed in their trucks they are wasting a lot of time at shippers and loaders. The solution to this problem is to create a plan that would reduce wait time for truck drivers. The solution is the TrackUs app. The market for this application will be broad. This application will do well through social media platforms. Using technological platforms like TV ads and websites also will be beneficial. Another efficient way of getting the word out about the TrackUs application is from word of mouth from the truck drivers and warehouse workers. Finally, the identity of the strategic business plan. The identity is to show why JLD, LLC is the most wanted company to sell this product. First, JLD, LLC. is the first company to create this product. Our company is passionate about our products and satisfying the needs of customers. JLD, LLC. is a company that is keeping up with present times and looking forward to the future to keep up with changes.

Our company is about being a service to others and we will provide training sessions with customers to make them feel comfortable using our services.

The business goal for JLD, LLC and the TrackUs application is to create a trucking company that creates a service for truck drivers and warehouse and distribution center employees to transport products in a fast and efficient method. “JLD, LLC. cooperate mission is ‘To provide tracking services for cargo movement and delivery by providing the best monitoring techniques to provide a safe transit of your goods from a global standpoint. TrackUs is going to be used with the General Freight trucking industry both at present and in the future operations (Hutchins, 2020).”

The cost of the business is always classified as the fixed cost and the variable costs depending on the static and the fluctuation of the sales volume (Corporate Finance Institute, 2019). The pricing for our company varies because we have trucks that can transport merchandise that use the TrackUs app and the TrackUs can be bought separately. From the market today I can see more people buying the application separately because a lot of companies already have trucks. The way our company differentiate with our service is because no one else in the industry have this application. We pride ourselves in our products.

Demand Forecast

One of the objective of this assignment is to come up with an initial demand forecast for our service for the first six months of operation. Demand forecasting is “simply put, it refers to making estimations about future customer demand using historical data and other information. Proper demand forecasting gives businesses valuable information about their potential in their current market and other markets, so that managers can make informed decisions about pricing, business growth strategies, and market potential (TradeGecko, 2018).” Initially JLD, LLC will do research and retrieve data from truck drivers and warehouses on the duration of loading and unloading. Also we will conduct a survey on how many truck drivers and warehouse workers have smartphones, how often do they use mobile devices or tablets, and would tracking app help with the progress of getting loads unloaded and loaded quickly. It would be good to launch the application to companies and drivers that has this problem. With the demand forecasting the company seek potential competitors and what geographic location that we should start with. In the first six months this would give the company a little time for trial and error. With the data and trial period it will give JLD, LLC the opportunity to budget accordingly.

Technical Rationale1

The rationale technical behind JLD, LLC business plan is choosing which type of demand forecasting to use. For the trucking industry it would be wise to use the macro-level demand casting. Trucking companies transport for so many different companies to the point that they should not be limited to one specific thing. “Macro-level demand forecasting looks at general economic conditions, external forces, and other broad things disrupting commerce. These factors keep a business in the know around portfolio expansion opportunities, market research intel, and other shifts in the market (Lopienski, 2018).” This will give JLD, LLC a chance to plan appropriately for the TrackUs application and the consumers.

References Berry, T., & Parsons, N. (2018, September 04). How to Develop Your Business Strategy. Retrieved July 05, 2020, from https://articles.bplans.com/how-to-develop-your-business-strategy/ Corporate Finance Institute. (2019). Fixed and Variable Costs. Retrieved from CFI: https://corporatefinanceinstitute.com/resources/knowledge/accounting/fixed-and-variable-costs/ Hutchins, L. (2020). JLD, LLC. Comprehensive Business Plan. Unpublished manuscript. Southern New Hampshire University. TradeGecko. (2018, September 13). What is demand forecasting? Retrieved July 03, 2020, from https://www.tradegecko.com/blog/inventory-management/what-is-demand-forecasting-and-how-can-it-help-your-business Lopienski, K. (2020, June 26). Demand Forecasting: Why & How to Forecast Demand [+ Examples]. Retrieved July 05, 2020, from https://www.shipbob.com/blog/demand-forecasting/ .