GearBike - Advanced Retail

The license fee for the program: 3 500 EUR + VAT

The simulation models the business decisions of a bike retail store. The simulation, on one hand, concentrates on improving the business decisions, on the other hand, gives a cooperation opportunity for the players in which teamwork, decision-making skills and analyzing competencies are in focus.

Decisions are separated based on business and management issues, so decision making about sales, purchasing, cost - and resource management and financial management each appear separately in the four quarterly periods. Decisions can be divided into 3 big categories. Firstly, companies have to make decisions about the market, including sales and supply management. Secondly, you have to plan the use of resources and the related costs. Finally, you have to make decisions to achieve a balanced cash management. The detailed description of these decisions and areas can be found in the relevant chapters.

The software is based on the business simulation model created by Dr. Tamás Kozák, Head of Department, college professor. The EcoSim team implemented the model in the edu.ecosim.hu online education system.

How GearBike simulation software works:

• The students form groups and take over the management of the virtual shop created by the simulation software.
• The virtual shop is managed by making strategic decisions for every quarter of a year. The software gives a written feedback about the results of the decisions, and it also shows the important economic indicators (profit, Cash flow, traffic,…) on a graph.
• The software settings can be modified in various ways based on different demands, purchase prices, the wage flexibility, credit conditions and a number of other factors.
• The software can simulate up to 12 periods

Advantages and learning points:

• The program simulates trade, which is one of the most important and basic economic activities, in a simplified form.
• As the program shows the management of a small economic unit, it is able to simulate the challenges that a small business may face in a competitive market.

Licensing conditions:

• The duration of the license: 5 years from signing the contract
• A program can only be used for educational purposes and within your own institution, but it can be used in multiple workstations without paying extra fees.
• The license fee can be paid in one sum, or in multiple installments (which means 40% of the fee upfront, and according to the agreement, semi-annual or monthly deposits.)