Sunflower: On-Demand Products Across the Globe, Different Tastes & Experiences - Essay Sample

Introduction

Sunflower’s products have been on-demand across the globe, whereby individuals are searching for seeds and sunflowers oil (Mehrabi et al., 2019). These products vary in price across many countries. TourneSol is a firm that deals with the production and processing of sunflowers, thus making more valuable products, which give clients different tastes. Different forms of sunflowers give consumers an opportunity to fully explore the product (Abou Maroun et al., 2019). Most individuals believe that processed products of sunflowers should earn more income. However, there are numerous aspects that affect it production; for example, the cost and machines required in the processing. These challenges have highly impacted TourneSol Company, which is clearly outlined by a low-performance rate. For many years, sunflower production has been a challenge, particularly in those countries with low GDP, and this has hindered its success.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Save 25%

Purpose

The objective of this task is to explain the highest profit from TourneSol Canada Ltd. The process is conducted by taking samples of the outcomes, for instance, the price index of the goods, which involves the finished products of the sunflower seeds. The data is collected based on a given financial period in the last one year, whereby the company has been in the market.

The information is collected with a lot of accuracies by taking the level of records taken in a time when the demand for sunflower products was high. The data appears in cross-sectional because the time used does not repute the different periods deployed in the information (Inoua & Smith, 2020). The outcome after computation of the sunflower’s production costs is determined to form the base for a future prediction about the market performance (Mehrabi et al., 2019). The outcome will also assist firms in understanding the trends of the expenses that are required in a particular production level.

Description of the Problem

There are numerous issues encountered during the production of fatty acid from sunflower. Different forms of cost functions are experienced, and this impacts the income of a company, thus causing challenges during the production and converting the raw materials to finished goods (Mehrabi et al., 2019). The three supplier cost functions, TC=f ($75,000), appears to be more as compared to the total revenue the company is making in the financial period. The issue can be solved by the application of internal auditors to assist in giving advice on financial allocation in a company (Mehrabi et al., 2019). In this case, internal auditors may offer advice on all aspects of fatty acid and sunflower production within a particular period.

Additionally, the company is experiencing a challenge of lacking particular products, in which oleic acid is only produced at a minimum rate of 77 percent and iodine 0.78 percent, and this affects the quantity balancing according to consumers' demand (Mehrabi et al., 2019). The information obtained gives the firm an issue, especially when analyzing statistically (Abou Maroun et al., 2019). As such, there are high chances that errors may occur in production sectors, hence exaggerating the profit or the loss in the company.

Methodology

The part involves the illustration of data collection and analysis of the performance of the TournerSol Company and the definition of error that may have occurred during when supplying the finished products in the organization.

Findings or Results

According to the theory of demand and supply, price changes based on demand and supply of products (Inoua & Smith, 2020). When the sales prices of the sunflower produce are higher, the rate of demand for the finished products is lower. In this case, the moving averages are impacted by the price index of the commodities that are lower than when more sales are made per financial time due to low change in demand (Hussain & Haroon, 2018). In regards, the demand for sunflower mashes is among farmers is high, and this makes plays a vital role in balancing the supply rate (Inoua & Smith, 2020). When TourneSol advertises the products, the sale increases as compared to the period when there is no advertisement (Mehrabi et al., 2019). The total cost of production is greater because the expenses required to convert raw materials to the final product are higher.

Recommendation and Conclusion

Based on the information, farmers seem to spend a lot of money when buying animal feed as compared to other customers. The correlation on the amount spends on the sunflower commodities when being advertised to people illustrates that the level of the population will define the amount of fatty required by farmers and other clients (Mehrabi et al., 2019). As such, the more the company engages promotion strategies on the sunflower products, the higher the chances of attracting more consumers, hence increasing the sale volume of products.

It is advisable that the firm continues engaging more promotional strategies, which will assist in increasing the demand for products (Inoua & Smith, 2020). When the demand is high, the company will manage to reach a large number of clients, thus increasing productivity and sales. As such, the company should target young individuals, children, and families as they have special needs for fatty acid as compared to the elderly (Inoua & Smith, 2020). Additionally, the company should set more branches in highly populated areas, which will increase the chances of consumers buying the products. These areas should be accompanied by promotion, thus creating awareness about different products the company is offering (Mehrabi et al., 2019). Through the approach, the company will be in a better position to increase the sale, thus forming a background for its growth.

References

Abou Maroun, E., Zowghi, D., & Agarwal, R. (2019). Challenges in forecasting uncertain product demand in supply chain: A systematic literature review. 32nd Annual Australian and New Zealand Academy of Management. https://opus.lib.uts.edu.au/bitstream/10453/134532/1/Challenges%20in%20forecasting%20uncertain%20product%20demand%20in%20supply%20chain%20A%20systematic%20literature%20review.pdf

Hussain, F., & Haroon, S. (2018). Predictive and comparative analysis on products demand in supply chain and management. Journal of Independent Studies and Research-Computing, 16(1), 37-43. http://jisrc.szabist.edu.pk/index.php/jisrc/article/download/49/19

Inoua, S. M., & Smith, V. L. (2020). The classical theory of supply and demand. https://digitalcommons.chapman.edu/cgi/viewcontent.cgi?article=1305&context=esi_working_papers

Mehrabi, Z., Pironon, S., Kantar, M., Ramankutty, N., & Rieseberg, L. (2019). Shifts in the abiotic and biotic environment of cultivated sunflower under future climate change. OCL, 26, 9. https://www.ocl-journal.org/articles/ocl/pdf/2019/01/ocl180022.pdf