“If opportunity doesn’t knock, build a door.” –Milton Berle.
MonsoonSIM’s cloud-based ERP simulation and experiential learning software platform comprehensively gather business concepts and theories spanning over thirteen interconnected business departments into one convenient platform.
With more to teach and easier to teach as some of MonsoonSIM’s core missions, this leads to the carefully and meticulously crafted MonsoonSIM curriculum roadmap. This provides a visual reference of MonsoonSIM’s education standards and learning checkpoints, as well as the resources teachers use to meet those standards within the classroom. MonsoonSIM, in particular, has 14 micro-courses within the Enterprise Resource Planning curriculum roadmap—ERP 101 to ERP 114.
To learn more about MonsoonSIM as a platform this video will sum it up.
The first module, ERP 101: Retail Business 1, has been outlined in a previous article, which can be found here.
ERP 102: Retail Business 2
These next few paragraphs will specifically cover the learning points of ERP 202 (Retail Business 2). This second module involves the same business departments as in ERP 201 (Finance, Procurement, and Retail Sales), but now with the addition of Planning/Forecasting.
In this module, besides covering the lessons learnt in ERP 101 which entail the basic retail sales and basic analysis, learners will explore and have a deeper understanding of process flows, demand forecasts, and demand variations and strategy. Additionally, learners will also draw further insights on business relations through vendor performance analysis.
Besides that, ERP 102 also covers forecast analysis which involve the daily demand per product per location and also the “festive day” demand. Data sales will also be available for analysis, raising awareness of understock, overstock, the effect of pricing on changes in units sold as well as the differences between the actual and forecasted units sold. Learners have the opportunity to make sharp business decisions and decide on which vendors have more reliable shipment time (lead time) and in turn, the effect of volume discount on the average cost. Financial data, which involve any overflow (overstock) penalties and more, can also be utilized by learners when it comes to deciding whether to open new stores.
In this module, the main learning goals are for learners to be able to:
1. Understand the process flow in procurement
2. Analyze and make demand forecasts
3. Deal with demand variations and strategies
4. Conduct vendor performance analysis
5. Cover the basics of retail sales
6. Conduct basic data analysis
Essentially, the ERP 102 module provides the perfect chance to facilitate experiential learning for students when it comes to concepts such as demand planning, drawing up procurement strategies and price strategies, as well as ensuring its successful and effective implementation.
MonsoonSIM’s immersive business simulation and gamification education platform ensure that learners and teachers alike will have an enjoyable and meaningful learning experience as a class. Offering a unique, experiential learning opportunity for students and transforms the way business concepts are taught in class, MonsoonSIM looks forward to supporting more students worldwide in a way where there’s more to learn, easier to learn.