BSBMKG512 International Business Assignment Sample
Here’s the best sample of BSBMKG512 International Business Assignment, written by the expert.
Introduction
The main aim of this report is to analyse which method is used in forecasting the demand for Milk, meat, and cherry in forecasting the exporting in the relation of Tasmania. In the food and beverage industry, the name of Tasmanian is well known in the worlds. It is one of the largest producers of Milk, meat or cherry due to this, it exports these Milk, meat or cherry in the many countries such as Japan, China, India, Vietnam and Suadi Arabia. This report includes discusses some model such as projection model, scenario planning, and model building that is used in the forecasting.
Japan
Japan is a leading country that imports meat from the Tasmania. Japan is popular among the world in the context of eating the fish eating culture. Tasmania meat is world famous that is imported from Japan. Tasmania seafood has high demand in the Japan due to this, different variety of the meat send in Japan on the weekly basis with under the effective storage technique. In the business relationship between the Tasmania and Japan, there is a free trade deal that minimises the cost of the product as well as it also increases the ability of the county of import (Khashei & Bijari, 2011). In the context of import, Japan imports a number of items from the Tasmania that includes the seafood, beef, dairy, wine, fruit, and vegetables. On these products, there is an agreement between both countries that is known as the Japan-Australia economic partnership agreement signed.
Every year, Tasmania exports a number of quantities in the reference mean, milk and cherry that helps the Japan to complete the need of the people. In this, furcating method is used by the marketer to meet the demand. Under this, the forecasting method is used by the market that is projection. This method allows the producers to evaluate the past results and analyze them to know the actual market demand and situation in the future. Therefore, the producers become able to develop the strategy regarding the production (Rowe & Wright, 2011). There is also an opportunity for the Japanese and Tasmanian manufacturers, processors and wholesalers to offer the sufficient quantity to market.
China
Tasmania is a major source for China for importing the mile product. The quantity of the production comes from flights on the weekly basis. In the past data, it is found that 10 million litters of van milk are transferred from Tasmania to China that is distributed in the different place of the china. The milk dairy exporting activities by the Tasmanian helps China to consume the fresh and healthy milk. In case of milk product projection method can be used because milk consumption in China shows that it is increasing year by year the below figure shows milk consumption in the china (Sun & Morwitz, 2010).
In the case of the milk demand projection method is used. In this method, past data is used to forecast. In the context of the cherry, there is high demand in China. But, the demand of Cherry depends on other factors such as season and distributions channels. In this case, scenario planning is used that evaluate the market demand on the basis of the situation. Further, it can be said the china is also most one importer country that imports the meat from Tasmania. It is because most of the people in the china are non-vegetarian they like to ear varieties in the meat. Every year, in a large amount of meat, is imported from Tasmania in the china. The import and export of further business are estimated on basis of the past series data. In the case of the meat, producers and markets analyze the future of the business by the help of the projection method 9Yeh et al., 2011). It allows them to concern available data of import and export of meat from Tasmania to China.
India
The increasing the population of the country is an opportunity for the food and beverage industry. It is because the food is an essential thing in the life of the human life. As the increasing, the population of the country, the market demand for the food products such as Milk, cherry and meat are also increasing. Due to this, India concerns towards Tasmania to import this product. These importing activities are conducted under the director general of foreign trade and its regional office. In this, forecast methods are used to meet the demand (Bishop & Chung, 2015). However, India is also the largest big producer of the milk product that is why; the quantity of this product is not much in the data of important of import from the Tasmania. But, on the other hand, Cherry and meat are imported from the Tasmania in the large amount. In this, it is found that in order to forecast the demand cherry and meat, the Scenario planning method as the forecasting method is used. This is one of one of an important method that is used to forecast demand. This method allows the producers maintain the demand of the production accordingly. It is a method for offering the suitable quantity of the product according to the market. Under this method, the forecasting process happens on the basis of the seasonal demand. In India, the demand of the meat and cherry depend on the season. In this, it is found that the consumption of the cherry and meat increases in the winters as compared to summers (Guilliatt, 2013). Therefore, to estimate the future demand, farmer and producer investigate that whether their harvest will be productive or not depending upon the weather. It enables the producers to identify a future situation in the market.
Vietnam
In the international business environment, there is a significant relationship in Tasmania and Vietnam. Both counties import and export a large number of goods from each other each year. In this, Vietnam imports some food and beverage product from the Tasmania due to the uniqueness of the product. Tasmania is one of the major cities of Australia in terms of export there are different products such as seafood, beef, dairy, wine, fruit and vegetables that are exported by this city of Australia for different countries (Veitnam Lisson et al., 2010). It is because there is the high production of these products in Australia of meat, milk product and cherry, while there are also some countries like Vietnam from where the production of these products s quite low. Because of this concern, the government of Tasmania and the Vietnam had a free trade agreement that mad easy the Tasmania firms deliver the products and to earn the more profit. There are different agreements such as fresh beef tariffs would fall from 38.5 percent to 23.5 percent over 15 years and wine traffic would reduce from 15 percent to zero over seven years.
In the last 10 years, it has been seen that export of Cherry has increased to the great extent by Tasmania. The main reason for an increase in the export is raise in the production of the cherry in Tasmania. In the context of the Vietnam, the demand of cherry is forecasted on the basis of the projection method (Mazur et al., 2013). It is a traditional method that is helpful to forecast the future deals with the variables movement. Under this method, the analyst uses the series of the data.
| 2008 – 2009 | 2009 – 2010 | 2010 – 2011 | 2011 – 2012 | |
| Vietnam | 17712 | 36927 | 53511 | 77288 |
In the context of this, it is identified that in the reference of the dairy product, projection method used based on the past data. It provides estimation the required production for the future. At the same time, the Model building is adopted in the context of meat and cherry. It is used as the casually and it provides the quick result of the forecast.
Saudi Arabia
Saudi Arabia is also one of the major importers of Tasmania’s good and beverage products. Saudi Arabia is also one of the major importers of seafood and milk from Tasmania. It is because the agriculture department in Tasmania is very wide and due to this, here is the full availability of milk. So, Tasmania exports the milk and meat in other countries like Saudi Arabia.
| Country | 2008 – 2009 | 2009 – 2010 | 2010 – 2011 | 2011 – 2012 | Average | |||||
| MT | % Share of export | MT | %S hare of export | MT | % Share of export | MT | % Share of export | MT | % Share of export | |
| Saudi Arabia | 35 | 2 | 13 | 1 | 19 | 2 | 15 | 1 | 21 | 1 |
The above table shows that the averages share of export 2% from the Tasmania to Saudi Arabia in the reference of food and beverage. SA has a great business relationship with the Tasmanian. In this, the milk products are majors that exported in the large quantity Tasmania to SA. In order, it is a traditional method that is used for a long time. For this, reliable data set is used on the basis of the past transaction (Khashei & Bijari, 2011).
Conclusion
From the above discussion, it is concluded that Tasmania is involving in exporting the milk products, beef, cherry in the various countries such as Japan, India, China, Saudi Arabia and Vietnam. In this, there are some methods which are used to forecast demand or market. These methods are scenario planning, projection, and model building.
References
Guilliatt, R. (2013) China’s demand for milk powder becomes a white gold rush on Aussie dairy farms. USA: The New York Times.
Khashei, M., & Bijari, M. (2011). A novel hybridization of artificial neural networks and ARIMA models for time series forecasting. Applied Soft Computing, 11(2), 2664-2675.
Lisson, S., MacLeod, N., McDonald, C., Corfield, J., Pengelly, B., Wirajaswadi, L., … & Puspadi, K. (2010) A participatory, farming systems approach to improving Bali cattle production in the smallholder crop-livestock systems of Eastern Indonesia. Agricultural Systems, 103(7), pp. 486-497.
Mazur, K., Curtotti, R., Flood, M., Skirtun, M., George, D., & Stephan, M. (2013) Fisheries. Agricultural Commodities, 3(1), pp. 140.
Rowe, G., & Wright, G. (2011). The Delphi technique: Past, present, and future prospects—Introduction to the special issue. Technological Forecasting and Social Change, 78(9), 1487-1490.
Sun, B., & Morwitz, V. G. (2010). Stated intentions and purchase behavior: A unified model. International Journal of Research in Marketing, 27(4), 356-366.
Yeh, C. Y., Huang, C. W., & Lee, S. J. (2011). A multiple-kernel support vector regression approach for stock market price forecasting. Expert Systems with Applications, 38(3), 2177-2186.
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