167-ocr_37276_prm_gce_f292_cs

167-ocr_37276_prm_gce_f292_cs - To be opened on receipt AS...

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INSTRUCTIONS TO TEACHERS This Case Study must be opened and given to candidates on receipt. INFORMATION FOR CANDIDATES You must make yourself familiar with the Case Study before you sit the examination. This copy may not be taken into the examination room. A clean copy of the Case Study will be given to you with the Question Paper. You must not take notes into the examination. The information contained within this Case Study is based upon one or more real businesses. This document consists of 8 pages. Any blank pages are indicated. To be opened on receipt AS GCE BUSINESS STUDIES F292/01/CS Business Functions PRE-RELEASE CASE STUDY OCR is an exempt Charity Turn over © OCR 2012 [T/500/7949] DC (NF/SW) 41890/4 JANUARY 2012 *F227420112*
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2 F292/01/CS Jan12 © OCR 2012 Suits You Ltd (SYL) Suits You Ltd (SYL) is a leading online men’s clothing retailer, specialising in men’s eveningwear, business suits and accessories. It was set up in the autumn of 2008 by two brothers, Jonny and Warren Devereux. During his gap year, Jonny had spent time in India and was impressed with the quality and price of the bespoke suits which were available in nearly every city which he visited. At the end of his first year at university, Jonny found it impossible to buy a good quality hand-made suit, at an affordable price, for the summer ball and remembered his experiences in India. Within six months, Jonny had dropped out of university and teamed up with his brother, who had just graduated with a degree in Computer Science, and SYL was born. Within three years, the business has achieved annual sales of nearly £3 million and made a pre-tax profit of £491,500 in the last financial year. The way in which SYL’s bespoke service works is very simple. The customer chooses a style of suit from over 50 available on, or designs their own using, SYL’s website. Then, following guidance on the website, the customer has to take up to 60 different body measurements and enter them into their online profile. Once payment has been made, the suit is produced. This work is sub-contracted to a firm in India which uses a team of 60 experienced tailors. The suit is then delivered direct to the customer within eight weeks of the order being placed. The average price of a suit is just over £300, which is about 10% of the price paid for a similar product from a bespoke tailor in London. In addition, SYL also sells men’s tuxedos, wedding suits and morning suits, along with the necessary accessories such as shoes, waistcoats, dress shirts, cummerbunds and cravats. Although most of these products are uniquely produced for SYL, they are sold ‘off the peg’. SYL holds a stock of over 300 different items (many of them in a variety of sizes) sourced from a number of suppliers mainly located in India, Nepal and Thailand, although a growing number of suppliers are in Eastern and Central Europe. SYL sets a buffer stock level for each of the items, although this has to be kept quite high given that the lead time on most of its supplies from South-East Asia
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This note was uploaded on 02/08/2012 for the course FIN FIN4345 taught by Professor Koij during the Spring '10 term at FIU.

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167-ocr_37276_prm_gce_f292_cs - To be opened on receipt AS...

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