Trimming Business Plan Review Meeting

TRIMMING BUSINESS PLAN REVIEW MEETING

15 & 16 NOVEMBER 2001

Present: P. J. Wilson A. McKee J. Simmons E. Svoboda T. Di Losa F. Torcasio G. Anderson

PJW opened meeting by welcoming Tom Di Losa and advised under Accessories restructure Tom has been appointed as National Accessories Sales Manager effective immediately.

AGENDA

1. Review of previous minutes – May 24th & 25th, 2001.  Most ‘T’ competitors still operating despite tough market conditions. All need to be aware and push harder to ensure pressure is increased to close down competitors businesses.  Shann business still up for sale, general opinion is that business is in a mess and not of interest to C.P. as a “whole” package at this stage.  PJW reinforced all National Managers continue to be fully responsible for, and the ownership of, their own business areas.  Review price lists with look to re-issue as at 1st March 2002 (irrespective of changes or not). This process to occur annually.

2. Review KPI’s from Business Plan  National Trimming sales/GP - Overall 1st quarter results reasonably good. - Domestic margin needs to be increased. - Our Business Plan figures are gross figures (e.g. GP/mark up) where as D. Dobbie/D. Taylor produce net gross figures.  Sales & Marketing - Year ending 2000/2001 figures were unsatisfactory. - 1st quarter trends OK, mark ups and overheads need to be continually monitored/attended to.  Operations - Overall ‘T’ stock turn target is 3.0 as per JL. - Credits report future figures to be shown per state representatives. AMcK - Must standardise national customer pricing systems A.S.A.P. (refer AMcK/FT/GA) - Vic to implement use of summary invoices on larger customers e.g. Stafford Group.

D:\Docs\2017-12-29\0f9b57f4933cd0f4e3e8029eba84a832.docPage 1 of 4 3. Subdivision Review  Trimmings - AMcK/FT/ES to survey size of non woven market and re-confirm to PJW where we are missing business and to whom. - AMcK/FT review non woven range and reduce to minimal “working” number of products. - Most action plan issues already implemented and some continuing to be followed through. - Entire ‘T’ product range to be standardised/cut back which will also help enable reduce overall stock value. - Due to closing down of Japanese mill/dyehouse ‘T’ stock will increase early 2002 by approximately $600,000 (stock pile of 140,000 metres Viscose lining)  Bandings - General sales figures holding up, Fiji sales excellent. - Under collar moving OK, new business obtained with Flair and Andre J. - Waxing products continue to grow, QLD sales good, more business potential in SA and WA. - New CPT 201 band fuse now successfully imported in pre-cut form, Fiji sales increasing.  Shoulder Pads - Worrying signs as sales decreasing but stock increasing. FT to analyse all stocks held for which customers and report details back to PJW. - Any new buying must be kept to an absolute minimum. - Bra pad coverage in Vic. Needs to be passed on to local representative as EW now more involved with Accessories.  Denim - 1st quarter figures down but JS predicts yearly sales forecast figures will be obtained (possibly ½ to 1 mill increase in offshore sales vs. budget) - Overstocked in local fabric area, push to sell within next 6 months. - Jean/jacket sales will kick with Myer and Harris Scarfe now on board (ED Harry & Target also showing keen interest). - Initial offshore distribution of Corduroy through R. Oberstein looks promising, hopefully spreading to garments at a later stage – Shanghai quality control is important (implementation of person being co-ordinated by Shaw Shaw and M. Montgomery)  Industrial - 1st quarter sales excellent, target mark up of 37% adjusted to 33% but target sales increased to counteract this. - Internet Web page required link to C.P. covering our industrial products, PJW to follow up with R. Hosking. Also see J.L. regarding company profile on CD Rom. - Accelerate efforts to distribute safety wear and monitor results closely. - Filtration market products have been sourced. Authorisation given to ES to employ ‘filtration expert’ to sell product. - Need to push industrial sales in QLD. PJW/ES/AMcK/TD to discuss. - Increased sales targets set for N. Parsons and to be monitored by ES.

D:\Docs\2017-12-29\0f9b57f4933cd0f4e3e8029eba84a832.docPage 2 of 4  Accessories - New thread ex Bitrim should yield extra $100,000 sales per annum. - NSW margins on improve after selling off clearance stock.

4. C.P. Shanghai  Top priority to select specific ‘T’ fabric Quality Control person.

5. ‘T’ Division Management System  New ‘T” report menu, details to be distributed to necessary staff following administration meeting 20th November 2001.  Allocation of product group/item responsibility against specific users in some business areas (eg Accessories) is still required.

6. National Rep Budgets  Melbourne/Sydney system to be adopted on a national basis (PJW to discuss with P. Brockett need for national budgets to be set)  Flexible new system which allows periodical updates (e.g. weekly, monthly etc.)  Data set representatives budgets must be set to 12 monthly figures for financial year period.

7. QLD Warehouse/Stock Holding  TD to investigate future deliveries of QLD orders directly ex. NSW for selected orders/customers

8. Trimming Daily Sales Report  At this stage leave ‘T’ report in its current format.  FT to highlight low Melbourne margins ex. Daily Report and follow up with representatives.  AMcK/ES to confirm with GA possible requirements in NSW and QLD of detailed national daily product reports (previous days sales)

9. Merging of Subdivisions – Not discussed

10. Hit Up Lists  Quarterly review required at minimum – more often if deemed necessary.

11. Industrial Division – Discussed in Subdivision Review.

12. Commercial Investigation  Nursing/Hospitals/Hotels, very large market, Terry Wearne to table market survey report with AMcK/PJW end of November. Decision on future direction to be made after report is investigated.

13. Overseas Trips  ES to attend Ghuangzhu Fair in April to cover industrial needs, also look at new products. Depending on Shanghai office development, AMcK may also visit.

D:\Docs\2017-12-29\0f9b57f4933cd0f4e3e8029eba84a832.docPage 3 of 4  Details of further anticipated trips to be discussed with PJW.  Bob Tomlinson to visit Australia 27th November 2001 for approximately 1 week.

14. Training/C.P. Textile Course  PJW to contact Taria regarding details of next C.P. Course intake and to ensure distribution to all divisions (‘T’ earmark Dean Stephens & Caroline Moss)  Any training/course requirements for individuals, details to be forwarded to PJW prior to Christmas.

15. Recent Acquisitions  PJW to see JL regarding weft knit product presentation and exchanging of customer lists.

Next Meeting: Mid/End April 2002 – PJW to confirm exact date later.

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