Beauty And Cosmetics Product Management Assessment Answer
Answer:
Slide no. 2:
L’Oreal deals with lines of beauty and cosmetics products such as hair care, coloring, skin care, make-up and perfume.
L’Oreal offers both men and women products all over the world with an array of prestigious and the renowned international brands that shows a unique heritage.
Slide no. 3:
L’Oreal deal with makeup and cosmetics products
The products are made of natural and chemical substances
The products have a limited validity and they are perishable after a span of time
It is for the same reason that the products are needed to be transported at the earliest
Slide no. 4:
L’Oreal has been facing challenges in meeting the demand of the dynamic customers choice
Delivering products to the customers in the shortest possible time has become challenging at some point
Several areas such as field warehouse, packaging, outbound shipping can interface with the distribution and logistic operation of L’Oreal
Marketing factors might also impact the logistic of the Company
Slide no. 5:
Incoterms or the International Commercial Terms are certain industrial terms issued by International Chamber of Commerce or ICC. The rules are used for basic transactions in business and other distribution processes (Stapleton et al, 2014).
The rules are used for commercial transactions and other distribution procurement processes (Stapleton et al, 2014).
The documents of shipping confirm that the goods have been shipped with the designated shipper.
The shortest and the most effective distribution channel will fetch better success to the Company.
Slide no. 6:
Different types of incoterms
- Ex Works where sellers makes the goods to be collected by the suppliers
- Carriage paid to where the seller paid to transport the goods
- Carriage and insurance paid where it is the duty of the seller to reach the product to the destination
- Delivered at terminal where buyer is responsible for carrying the goods
- Free alongside Ship where the sellers might collect the goods from
- Cost and Freight where seller must pay the cost for bringing the goods
Slide no. 7:
- Rules of Cost and Freight are restricted to transport goods by sea or inland water
- Seller might have direct access to the vessels for loading goods
- Seller is not responsible for insuring the goods
- The seller arranges and pays for transport for loading goods into the vessel
- Risk transfers from seller to buyers when the vessel reaches the port
For L’Oreal, CFR incoterm shall be the most effective incoterm and distribution strategy as it will benefit them to transport their goods to international boundaries
The company would not be responsible for any risk related to the condition of the products
Slide no. 8:
Recent distribution plan of L’Oreal showed partnership with CFAO as a part of the company’s strategic plan.
A world-class partnership has been witnessed when L’Oreal teamed with CFAO.
Slide no. 9:
It is recommended that L’Oreal would select Cost and Freight incoterms as a distribution strategy
The Company would be responsible for bringing the cost to the specified port
The buyer will be responsible for any kind of risk of loading and unloading
This would help the Company to stay balanced in their business
There will be less chance of any kind of loss in the transportation process
Slide no. 10:
The seller is responsible for paying costs and freight necessary to bring the goods to the destination port
The buyer is given sufficient notice that the goods are transported and the buyer becomes enable to receive the goods
A proof of delivering the products is provided to the buyer
The buyer is subjected to pay right at the point of receiving goods unless agreed upon other conditions
Slide no. 11
Top competitors of L’Oreal are Procter & Gamble Company, The ESTEE Lauder Companies Inc and Unilever. Therefore, it is important to understand their distribution strategies
Bargaining with freight provider is expected that would help the Company to compare different shipping costs offered by different shipping companies. The shortest and the most effective distribution channel will fetch better success to the Company.
It is also recommended that the Company will keep communicating with suppliers and distributers. Without proper communication, formulating an effective strategy is not possible.
Developing a common boundary between the logistic and production of product might prove to be effective and beneficiary to the Company.
Slide no. 12:
It has to be kept in mind that a buyer always wanted to remain competitive and always look for ways to save costs. Thus, saving costs in the distribution channels is the primary requisite.
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