Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer all the questionss.,.within 30 minutes. make sure the explanation and reasons are explained in very detailed manner. else leave it for other tutor

please answer all the questionss.,.within 30 minutes. make sure the explanation and reasons are explained in very detailed manner. else leave it for other tutor otherwise i will give negative ratings and will also report your answer for unprofessionalism. Make sure the answer is 100% correct and IS NOT COPIED FROM ANYWHERE ELSE YOUR ANSWER WILL DOWNVOTED AND REPORTED STRAIGHTAWAY. USE YOUR OWN LANGUAGE WHILST WRITING.

ATTEMPT THE QUESTION ONLY IF YOU ARE 100% CORRECT AND SURE. ELSE LEAVE IT FOR ANOTHER TUTOR. BUT PLEASE DONT PUT WRONG ANSWER ELSE I WILL REPORT.

MAKE SURE THE ANSWER IS WELL EXPLAINED AND DETAILED.

image text in transcribed
Midwest Auto Parts, Inc.: Training Using Artificial Intelligence The engine electrical equipment industry is almost a $25-billion-dollar-a-year industry. In recent years competition from U.S. companies has increased, but the industry clearly is facing strong competition from abroad, particularly Japan and South Korea. The engine electrical equipment industry is divided into three main segments. Original equipment parts are supplied domestically to Ford, General Motors, and Chrysler. Companies supplying these parts are called OEM's. The second segment is called the after-market or replacement parts segment. Aftermarket parts are supplied to wholesalers and retailers of auto parts to be sold to repair automobiles after they have left the factory. The third segment is called the non-automotive segment - it supplies parts for engines other than automobiles. Midwest Auto Parts, Inc. sells to two of these segments: the OEM parts segment and the aftermarket parts segment. Midwest Auto Parts, Inc. has been in business for over 40 years and has manufacturing plants in the United States, Canada, and Mexico. Sales are coordinated by a National Sales Director and ten regional sales representatives. The regional sales reps line up independent manufacturer's reps who actually do the selling. The manufacturers' reps are paid on a commission basis and generally carry products of several non-competing companies. In the last few years the regional sales reps have had a lot of trouble recruiting and keeping manufacturers' reps. In the past they simply signed them up and they usually stayed with Midwest Auto Parts. But several years ago the industry leader, Premier Motor Products, Inc. started taking away their best reps. The National Sales Director could not understand why the reps were leaving their company and going to Premier Motor Products. The Director assumed that their commission schedule for reps was very competitive. The Director knew it was important to identify why their sales reps were leaving. The cost of hiring and training new reps is time consuming and very expensive for the company. The Director recently ran into one of Midwest Auto Parts former reps and asked him why he quit. He said the reason was that Premier Motor Products offered him a sales training class and an extensive sales support package. The former rep indicated the sales training class was especially helpful because it provided useful information on generating new prospects and minimizing problems with current customers through greater service. After talking with the former rep, the sales director from Midwest began exploring some training programs. One of the programs the Director found was called Virtual Simulation, an artificial intelligent (Al) program designed using virtual reality (VR). This program makes requests for merchandise based upon the trainee's interactions. After testing this program and other training methods with a small group of sales representatives, the Director found that utilizing Al and VR has improved employee retention, especially when the training identifies ways that employees can use their new knowledge to advance their careers. In addition, employee surveys have shown that opportunities to develop personal attributes and career advancement are major reasons why employees remain in their current job. The sales-support package utilized by Premier Motor Products included information on the following: Industry sales by region and state Industry sales by customer type Industry sales by product line A sales portal with simple instructions on how to apply sales analytics to identify sales opportunities In addition, the package included access to Salesforce.com data and analytics services, and, general information about the target market by state. Market Size by State *Information based on numbers gathered from Inc. Facts There is not a market size for Virginia, North Dakota, Massachusetts, Rhode Island, or West Virginia. Engine electrical equipment industry has yet to reach out to these states and offer their services to those markets. Questions What can Midwest Auto Parts, Inc. do to keep its reps from quitting, and going to work for Premier Motor Products? How could the sales rep use the information provided in the traditional sales support package? Which would be more beneficial to companies; the traditional sales support package, using artificial intelligence designed with virtual reality, or integrating both? What kinds of topics should be emphasized in a training program for a company like Midwest Auto Parts, Inc.? What strategy should Midwest Auto Parts, Inc. install to increase market share and/or expand to other areas that they are not a power in electrical equipment parts sales? Would it benefit Midwest Auto Parts, Inc. to become more automated? Should they include more artificial intelligence-based support packages to help the company expand and increase sales and market share, and potentially decrease training

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Intelligence

Authors: Efraim Turban, Ramesh Sharda, ...more

2nd Edition

013610066X, 9780136100669

More Books

Students also viewed these General Management questions

Question

Discuss how investment advisors can help their behavioral clients.

Answered: 1 week ago

Question

5. How can I help others in the network achieve their goals?

Answered: 1 week ago