moleskine-ipo-report-04-03-2013-mediobanca

Moleskine
MOLESKINE: product development
Input
Output
New product
plan
definition
Strategic plan
Product marketing
plan
New product
development
Product marketing
plan
New product
development plan
New product
prototypes
1 2 3 4
New product
development plan
Resp. Marketing PDP 1 Operations PDP 1
Source: Company data (1) product, design and publishing
d) Sourcing and production control
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New product
approval
Prototypes
Prototypes New product to be
included in the
catalogue
Although the manufacturing process is fully outsourced, Moleskine keeps a tight control over the
production process which entails the following key phases:
Supplier development & planning: Moleskine continuously controls and certificates its
external manufacturing suppliers base, carrying out a 12 month forward monthly capacity plan
and planning production need on a monthly basis, based on existing sales and budget;
Purchasing and procurement: raw materials are directly purchased by the company and
then transferred to external manufacturers at 100% for covers and 20% of paper. WTR raw
materials are 100% bought locally by manufacturers. As far as both paper and materials for
cover are concerned, sourcing is concentrated in a very limited and selected number of
suppliers (the top 5 accounting for approx 95% of the total purchase of raw materials);
Quality control: a tight quality control on both raw materials and finished products is carried
out on a statistical basis at suppliers’ premises and at the group logistic hub locations in Milan
(Italy) and Futian (China), based on the company’s quality standard and procedures. Quality
issues are really limited, as defective products represent historically less than 0.025% of the
total products sold;
Logistics & distribution: Finished products are transferred from the suppliers’ premises to
logistics provider warehouse in China where the partner is DB Shenker, located in the free
trade zone of Futian. From there they are shipped across the world to distributors’ warehouses
and specifically:
a) To the APAC and Central and South America distributors’ warehouses, based on
orders received by distributors;
b) To the warehouses of US and Canadian distributors, in consignment, based on
transfer orders generated by the group’s planning Department;
c) To the warehouse of Moleskine European logistics service provider, Swiss Post, near
Milan, based on transfer orders generated by the group’s planning department.
From here products are transferred to the warehouses of EMEA distributors, based
on purchase orders for non-consignment distributors, or orders generated by the
group’s planning department, for consignment distributors.
IPO
04 March 2013 ◆ 24