A study on the production of Sponge Gloves Plus

• Main Authors: Gandia, Jennifer, Nuevas, Maria Carolina, Pua, Rolaida, Ramos, Maricar Gelvez, Raviz, Marjorie Gaspar, Salinas, Nitze Belle Yap, Santiago, Farrah Crizel Andaya
• Format: text
• Language: English
• Published: Animo Repository 1998
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/11982
• Institution: De La Salle University

Executive Summary. As a household care manufacturing company, Innovators' Circle Corporation aims to provide care then convenience to housewives against irritating cleaning agents and to improve domestic conditions in every household. Thus, we will be introducing Sponge Gloves Plus, a premium quality cleaning material. Sponge Gloves Plus will be positioned as a sponge with a glove. This product will definitely release the consumers from the inconveniences of cleaning. It is designed to aide consumers, particularly housewives in doing the household chores. Our company will market Sponge Gloves Plus in the National Capital Region. The results of the survey supported our initial expectations. Sponge Gloves Plus expected to be well received by the target market. The survey conducted resulted in 80.79% level of acceptance among prospective buyers. The results are very clear. It indicates that housewives realize that Sponge Gloves Plus is another product that offer consumers a value for their money with superior quality compared to household products already existing in the market. Sponge Gloves Plus is a uniquely designed household care product consisting of a pair of latex rubber gloves and detachable sponge and scouring pad. The left/right hand glove is differentiated by having the velcro horizontally fastened on the middle and across the middle of the palm area. With the use of velcro, users can easily interchange the sponge and the scouring pad with the assurance that the materials will always stay in place, thereby giving the much needed flexibility in dishwashing as well as when doing other cleaning chores. Sponge Gloves Plus will be manufactured in our own plant in San Pedro, Laguna. Raw materials used will be derived from various suppliers in Metro Manila. The office is also located in the same compound where both the factory and stock room are situated. The office will house the administrative department, which will look after the logistic requirements of the business. The production process includes various activities like preparation of raw materials, cutting, sewing, gluing, drying and labeling. The financial aspect of the study proves that manufacturing of Sponge Gloves Plus is a worthy undertaking. The projected increase in net income through the years assures financial viability and thus provides a reasonable rate of return in owners' investments. The projected balance sheets, cash flows and ratio analysis also indicate strong financial position as far as profitability and liquidity are concerned. The company's gross profit margin is approximately 55.08%. The high rate is caused by low material cost in the manufacture of Sponge Gloves Plus. This is an advantage for Innovators' Circle Corporation which uses locally purchased and procured raw materials compared to the imported process materials that competitors use. In the future, Innovators' Circle Corporation plans to expand its market. By that time, our company have already established its name in the household products industry as a result of its continuous improvement of the product. Another portion for Innovators' Circle Corporation is the development of other household care product which can supplement the intended expansion of market. This projected expansion will be achieved by utilizing the accumulated cash equivalents in excess of operating requirements for the five-year period.