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CASE 5.1 Johnson Toy Company Located in Billowi, Miesissippi, the johnson Toy Company Lori, thase proserit indodod Carolyn Coes ma the firmin president, are sistrrs and are the thind generaion of their engineet. Coggins had fut reparted that ahe believed family to be invohed in the toy basiness. The firm mann- there were between 1.3 million and 2 million fingle fim ufactures and sells tors throughout the United Sates. the Joger dcilis in retail storts, and Sulitua had indThe toy buiness is very seasonal, with the mayority of catrd there were 2.567.112 conplete units in variea ales occurring before Ciriamas. A smaller peak occurs. public warchouses in Bilox. Vidal said that he wat itill in the late spring-eariy nummer period, when sales of trying to count all the unassembied compecmit parts, outdoor items are good. The firm relles on several bauk designs of toys - Steceived from supplien, dergte the cancellation. which have low profit margins but are steady selles-_ Amy sald, "Leth malk a frw weeks to get a compliete and on pen designs of uncoaventional toys, whose count of all the dolls and all the unascabled cerpointroduction is always risky bet promises high peofita if neet parts. Loei, Tim naming you to work with Carolyn the item becomes popular. The firm advertises regalarly and Kevin to develop recommendations as to how we an Siturlay moming television shows for children. can recyde the fungle lim item into something we can Late last year, jast before Christmas, the Johnson sell Given the nambers invoived. fm willing to turn cat Toy Compary introdaced fangle lim the logker doil, mod- some innocuous doll and seil it for a little more than the ded affer a popular television show. Sules akyrocketed, cos of recyching because we cant take a compiete lose and every retaiers stock of fangle lim the fogerr dolis was co al these damined fangle lim dolis' Grog sys we have sold out in mid-December, the Johinson Compary could neaty 2.6 minion of them to play with, so iets tilinik of have sold several million more units if they had been sometining" this doll, Anry and Lori made commitanents to manufac- "Dont forget that there may be nearly 2 million in the ture 10 million langle lim the losger dolls this year and to hands of the dealers and that they will return them." introdoce a wide line of accessory kems, which they hoped "Return themf" questiceed Amy. "The're not introdoce a wide line of accessory ikems, which they hoped well under way, and many retailess were happy to accept. The retailers made a poor choice. Ifs the same as if dolls in lanaary and February because they were still a they oedered sleds and then had a winter with no inow. fast-selliog item, even thoogh the toy buainess itsalf was We are no more rospenuble for jungle limis scr life than Aluggiah daring these months. Unfortunately, in the aftermath of a Valentineis atel" Cheryl Garidi spolke ape "You may be underesDay party in Hollywood, the television actor who por- timating the problem, Amy. One of oar policies is to traped lungle lim the Jopper became involved in a widdy accept the dealer's word as to what is defective, and right publicined serual misadventure, the details of which now there are a lot of dealen out there clatming defects ahoded and disgarted many readers and TV viewern, in the langle fim dolla. Ooe reason that Kevin cart grt and we would be enbarrassed to describe them. Fiatings an accurate count is that returned dolls are ahowing up had been decpped from the ale. On March 1, the Johnson stodk inventorn-" Compary had canceled further production of the langle "How can that happenf" aked Amy, angrily. lim the foczer dolla, although it had to pay penalvies to "Wicre not paying the fright, alsa, are wet" some of its appliers hecause of the cancrliation. The "So fas, na" responded Guride. The reallers ase contipany had little choice because it was obvious that puing the freight jast to get rid of them" mes had stopped. Os April.1, a ploony groep asseanbled in the has dedacted the costs of the largle fin dolls and of the fohnaon Coenpany confermoe room. Berldes Arry and freight for alippieg then back from what he owes us" said Sallinan. That was one inem 1 wanted to raise while assame that rikk the retailer is willing to take more of we were together," our merchandise" "We we cant allow that" exclaimed Amy. "Dont be so sure," responded Sallivan. "The "Tnformal ones," was Coggins' response. "It account in cuestion has paid every bill hes owed us on depends on the salesperson and the account. I don't time for 40 years. Do you want me to tell him we wont think there is mach abues, alhough there is nome" reimburse himf" "This is worse than 1 imagined," said Amy. "last cumstances?" avked Amy. warn-scratched, dented, and damaged. That makes in valoe of returned items that wind up back here. Carolyn's "I wiah 1 had an eay solution," said Coggins. "We "You know, Tm finding out more information ased to let oar salespeople give credit for defects and about inventories and returns than 1 thought existed," then dotroy everything out in the field. Unfortunatcly, said Amy. sorne abused the vytem and renold the toys to discount stores. At least now we can see everything weire buying the ochers all supressed smilis. beck 1 agree we are stuck with some shopwern items, Amy decided to ignore Loris remark, and she beck our salespeople are out there to sell, and nothing looked at Guridi and asked. "Are you aatiafied with your woild ruin a Hig ale gidar than for oar salespeople to control over inventories, Cheryfl" shopworn" "Well, not antil now," responded Cogsina. "Bat penon knows only him or her own territory. When Carolyn with this langle fie salu we can erpect the inse to and I art trying to montor the ules of worme new item, we occur. If fact, 1 have several phose pueries on my desk never know whether ith bombling in some areas and riding now," said Amy. some were able to write bigger ordern by inplyigg that we erver want to lear dhout the defectives from theie "That wounds like a better policy," aid Amy. "How knowledge about volume of parterns of returns antiliky worked fine. Now a number of large accounts are plead- who do nothing but deal with this problem? The retailing 'ipecial circumatances' or threatening to sue if we ers would be told to hang onto the defiectives antil eur dont take back the dolls" "They have no grounds for suit," declared Amy. Coggins replied, "That would be expenaive. buyers are refusing to see our sales staff until the matter thing and would expect our claims rep to be there immeis resolved. I fust heard about this yesterday and meant diately. Besides, it might undermine our selling efforta if pack, they don' know how to prepare shipping docugoods were actually destroyed. What if they are truly adopted by the lohnson Toy Company. Be certain to list defective, but improperly disposed of, then fall into the circumatance under which exeptions would be allowed. hands of children who pley with them and the defect hands of children who play with them and the defect 4. Should this polig, if adopted be printed and distributed to all of the retailes who handle lohnon Tor Company products? Why or why not? If it should not be distributed to them, who should receive copies? 5. Assume that it is decided to prepare a statement on returns to be distributed to all retallers and that it ahould be less the langle lim product involves nuch a large volame that 7. Ausame that you are Cheryl Garldi, the firmi logistia it is pradent and reasonakle to think up another product manager. Do you think that the returns policy fevored by that utilizes mary of the parts. It would even pay to modify anme machines for disarsembling the Jungle Jim doll." beat for the firmt Why or why not? "As 1 liaten to this discussion," aald Lori, "one Question 3 takes effect, how would yoe handlic the inme: fact becomes obvoux We will never have very good Questions 1. From the standpoint of an individual concerned with accounting controls, discuss and evaluate Johnson Toy Company's present policies for handling returned items. 2. Answer Question 1, but from the standpoint of an individual interested in marketing. 3. Propose a policy for handling returns that should be adopted by the Johnson Toy Company. Be certain to list circumstances under which exceptions would be allowed. Should it apply to the Jungle Jim dolls? 4. Should this policy, if adopted, be printed and distributed to all of the retailers who handle Johnson Toy Company products? Why or why not? If it should not be distributed to them, who should receive copies? 5. Assume that it is decided to prepare a statement on returns to be distributed to all retailers and that it should be less than a single double-spaced page. Prepare such a statement. 6. On the basis of the policy in your answer to Question 3, develop instructions for the Johnson Toy Company distribution and accounting departments with respect to their roles and procedures in the handling of returns. 7. Assume that you are Cheryl Guridi, the firm's logistics manager. Do you think that the returns policy favored by the logistics manager would differ from what would be best for the firm? Why or why not? 8. Until the policy you recommend in your answer to Question 3 takes effect, how would you handle the immediate problem of retailers wanting to return unsold Jungle lim the Jogger dolls? CASE 5.1 Johnson Toy Company Located in Billowi, Miesissippi, the johnson Toy Company Lori, thase proserit indodod Carolyn Coes ma the firmin president, are sistrrs and are the thind generaion of their engineet. Coggins had fut reparted that ahe believed family to be invohed in the toy basiness. The firm mann- there were between 1.3 million and 2 million fingle fim ufactures and sells tors throughout the United Sates. the Joger dcilis in retail storts, and Sulitua had indThe toy buiness is very seasonal, with the mayority of catrd there were 2.567.112 conplete units in variea ales occurring before Ciriamas. A smaller peak occurs. public warchouses in Bilox. Vidal said that he wat itill in the late spring-eariy nummer period, when sales of trying to count all the unassembied compecmit parts, outdoor items are good. The firm relles on several bauk designs of toys - Steceived from supplien, dergte the cancellation. which have low profit margins but are steady selles-_ Amy sald, "Leth malk a frw weeks to get a compliete and on pen designs of uncoaventional toys, whose count of all the dolls and all the unascabled cerpointroduction is always risky bet promises high peofita if neet parts. Loei, Tim naming you to work with Carolyn the item becomes popular. The firm advertises regalarly and Kevin to develop recommendations as to how we an Siturlay moming television shows for children. can recyde the fungle lim item into something we can Late last year, jast before Christmas, the Johnson sell Given the nambers invoived. fm willing to turn cat Toy Compary introdaced fangle lim the logker doil, mod- some innocuous doll and seil it for a little more than the ded affer a popular television show. Sules akyrocketed, cos of recyching because we cant take a compiete lose and every retaiers stock of fangle lim the fogerr dolis was co al these damined fangle lim dolis' Grog sys we have sold out in mid-December, the Johinson Compary could neaty 2.6 minion of them to play with, so iets tilinik of have sold several million more units if they had been sometining" this doll, Anry and Lori made commitanents to manufac- "Dont forget that there may be nearly 2 million in the ture 10 million langle lim the losger dolls this year and to hands of the dealers and that they will return them." introdoce a wide line of accessory kems, which they hoped "Return themf" questiceed Amy. "The're not introdoce a wide line of accessory ikems, which they hoped well under way, and many retailess were happy to accept. The retailers made a poor choice. Ifs the same as if dolls in lanaary and February because they were still a they oedered sleds and then had a winter with no inow. fast-selliog item, even thoogh the toy buainess itsalf was We are no more rospenuble for jungle limis scr life than Aluggiah daring these months. Unfortunately, in the aftermath of a Valentineis atel" Cheryl Garidi spolke ape "You may be underesDay party in Hollywood, the television actor who por- timating the problem, Amy. One of oar policies is to traped lungle lim the Jopper became involved in a widdy accept the dealer's word as to what is defective, and right publicined serual misadventure, the details of which now there are a lot of dealen out there clatming defects ahoded and disgarted many readers and TV viewern, in the langle fim dolla. Ooe reason that Kevin cart grt and we would be enbarrassed to describe them. Fiatings an accurate count is that returned dolls are ahowing up had been decpped from the ale. On March 1, the Johnson stodk inventorn-" Compary had canceled further production of the langle "How can that happenf" aked Amy, angrily. lim the foczer dolla, although it had to pay penalvies to "Wicre not paying the fright, alsa, are wet" some of its appliers hecause of the cancrliation. The "So fas, na" responded Guride. The reallers ase contipany had little choice because it was obvious that puing the freight jast to get rid of them" mes had stopped. Os April.1, a ploony groep asseanbled in the has dedacted the costs of the largle fin dolls and of the fohnaon Coenpany confermoe room. Berldes Arry and freight for alippieg then back from what he owes us" said Sallinan. That was one inem 1 wanted to raise while assame that rikk the retailer is willing to take more of we were together," our merchandise" "We we cant allow that" exclaimed Amy. "Dont be so sure," responded Sallivan. "The "Tnformal ones," was Coggins' response. "It account in cuestion has paid every bill hes owed us on depends on the salesperson and the account. I don't time for 40 years. Do you want me to tell him we wont think there is mach abues, alhough there is nome" reimburse himf" "This is worse than 1 imagined," said Amy. "last cumstances?" avked Amy. warn-scratched, dented, and damaged. That makes in valoe of returned items that wind up back here. Carolyn's "I wiah 1 had an eay solution," said Coggins. "We "You know, Tm finding out more information ased to let oar salespeople give credit for defects and about inventories and returns than 1 thought existed," then dotroy everything out in the field. Unfortunatcly, said Amy. sorne abused the vytem and renold the toys to discount stores. At least now we can see everything weire buying the ochers all supressed smilis. beck 1 agree we are stuck with some shopwern items, Amy decided to ignore Loris remark, and she beck our salespeople are out there to sell, and nothing looked at Guridi and asked. "Are you aatiafied with your woild ruin a Hig ale gidar than for oar salespeople to control over inventories, Cheryfl" shopworn" "Well, not antil now," responded Cogsina. "Bat penon knows only him or her own territory. When Carolyn with this langle fie salu we can erpect the inse to and I art trying to montor the ules of worme new item, we occur. If fact, 1 have several phose pueries on my desk never know whether ith bombling in some areas and riding now," said Amy. some were able to write bigger ordern by inplyigg that we erver want to lear dhout the defectives from theie "That wounds like a better policy," aid Amy. "How knowledge about volume of parterns of returns antiliky worked fine. Now a number of large accounts are plead- who do nothing but deal with this problem? The retailing 'ipecial circumatances' or threatening to sue if we ers would be told to hang onto the defiectives antil eur dont take back the dolls" "They have no grounds for suit," declared Amy. Coggins replied, "That would be expenaive. buyers are refusing to see our sales staff until the matter thing and would expect our claims rep to be there immeis resolved. I fust heard about this yesterday and meant diately. Besides, it might undermine our selling efforta if pack, they don' know how to prepare shipping docugoods were actually destroyed. What if they are truly adopted by the lohnson Toy Company. Be certain to list defective, but improperly disposed of, then fall into the circumatance under which exeptions would be allowed. hands of children who pley with them and the defect hands of children who play with them and the defect 4. Should this polig, if adopted be printed and distributed to all of the retailes who handle lohnon Tor Company products? Why or why not? If it should not be distributed to them, who should receive copies? 5. Assume that it is decided to prepare a statement on returns to be distributed to all retallers and that it ahould be less the langle lim product involves nuch a large volame that 7. Ausame that you are Cheryl Garldi, the firmi logistia it is pradent and reasonakle to think up another product manager. Do you think that the returns policy fevored by that utilizes mary of the parts. It would even pay to modify anme machines for disarsembling the Jungle Jim doll." beat for the firmt Why or why not? "As 1 liaten to this discussion," aald Lori, "one Question 3 takes effect, how would yoe handlic the inme: fact becomes obvoux We will never have very good Questions 1. From the standpoint of an individual concerned with accounting controls, discuss and evaluate Johnson Toy Company's present policies for handling returned items. 2. Answer Question 1, but from the standpoint of an individual interested in marketing. 3. Propose a policy for handling returns that should be adopted by the Johnson Toy Company. Be certain to list circumstances under which exceptions would be allowed. Should it apply to the Jungle Jim dolls? 4. Should this policy, if adopted, be printed and distributed to all of the retailers who handle Johnson Toy Company products? Why or why not? If it should not be distributed to them, who should receive copies? 5. Assume that it is decided to prepare a statement on returns to be distributed to all retailers and that it should be less than a single double-spaced page. Prepare such a statement. 6. On the basis of the policy in your answer to Question 3, develop instructions for the Johnson Toy Company distribution and accounting departments with respect to their roles and procedures in the handling of returns. 7. Assume that you are Cheryl Guridi, the firm's logistics manager. Do you think that the returns policy favored by the logistics manager would differ from what would be best for the firm? Why or why not? 8. Until the policy you recommend in your answer to Question 3 takes effect, how would you handle the immediate problem of retailers wanting to return unsold Jungle lim the Jogger dolls