Chopra & Meindl

1. Consider a supermarket deciding on the size of its replenishment order from Proctor & Gamble. What costs should it take into account when making this decision? The main cost categories for the supermarket’s inventory policy are material costs, ordering costs, and holding costs. Material cost is the money paid to Proctor and Gamble for the goods themselves. Ordering costs, also called procurement costs, are incurred by requesting the goods from the supplier and are fixed in the sense that they do not vary with the size of the order. Examples of such fixed costs are the labor required to place the order, handle the resultant paperwork and the transportation fee to ship the order. The holding cost is the cost to carry one unit in inventory for a specified period of time, usually one year. This cost is variable and includes the cost of capital and all of the costs associated with physically storing inventory – shrinkage, spoilage or obsolescence, insurance, the cost of capital, the cost of the warehouse space, etc. 2. Discuss how various costs for the supermarket change as it decreases the lot size ordered from Proctor & Gamble. As the lot size ordered from the supplier decreases, the holding cost (variable with respect to lot size) decreases. As the lot size decreases, the ordering cost remains the same, but the annual ordering cost will rise since the total number of orders each year must increase. As the lot size decreases, the cost of the materials will drop on a per-order basis but will stay the same on an annual basis since total annual demand hasn’t changed. The exception to this occurs if the supplier has a price break for an order size above a certain threshold; in this case the cost of the goods might increase if the reduced order size is not sufficient to trigger a substantial per unit discount. 3. As demand at the supermarket chain grows, how would you expect the cycle inventory measured in days of inventory to change? Explain. As the demand at the supermarket chain grows, we would expect the cycle inventory as measured in days of inventory to also increase, although the increase in cycle inventory is only 40% of the increase in demand. This is because the relationship between the optimal lot size Q* and the annual demand D is [pic]. Since D is under the radical, its doubling to 2D does not translate to a jump from a Q* to a 2Q* order; it translates to a jump from a Q* to a 1. 4Q* order. 4. The manager at the supermarket wants to decrease the lot size without increasing the costs he incurs. What actions can he take to achieve his objective? One action would be to simply decrease the lot size and let the robust nature of the EOQ model work its magic. The total cost curve on either side of the optimal order quantity, the Q*, is relatively flat, so movements in either direction have little impact on total annual procurement and carrying costs. If greater cuts in lot size are desired, the manager can aggregate multiple products in a single order. Recall that the EOQ model is based on a one-product-at-a-time assumption; if multiple products are aggregated, then the fixed procurement cost is spread over all of the items and dramatic lot size reductions are possible. If the same products are being ordered by another supermarket in the same chain (or at least by stores that are willing to cooperate) the combined orders can be delivered by a single truck making multiple stops, thereby reducing transportation expense. Other techniques that should be deployed when aggregating across product lines include advanced shipping notices and RFID tags that will make inventory tracking and warehouse management simpler. 5. When are quantity discounts justified in a supply chain? Quantity discounts are justified in a supply chain as long as they are the fruits of a coordinated supply chain and maximize total supply chain profits. For commodity products for which price is set by the market, manufacturers with large fixed costs per lot can use lot size-based quantity discounts to maximize total supply chain profits. 6. What is the difference between lot size-based and volume-based quantity discounts? Lot size discounts are based on the quantity purchased per lot, not the rate of purchase. Lot size-based discounts tend to raise cycle inventory in the supply chain by encouraging retailers to increase the size of each lot. Lot size-based discounts make sense only when the manufacturer incurs a very high fixed cost per order. For commodity products for which price is set by the market, manufacturers with large fixed costs per lot can use lot size-based quantity discounts to maximize total supply chain profits. Volume discounts are based on the rate of purchase or volume purchased per specified time period. Volume-based discounts are compatible with small lots that reduce the cycle inventory. If the manufacturer does not incur a very high fixed cost per order, it is better for the supply chain to have volume-based discounts. For products for which a firm has market power, volume-based discounts can be used to achieve coordination in the supply chain and maximize supply chain profits. 7. Why do manufacturers such as Kraft and Sara Lee offer trade promotions? What impact do trade promotions have on the supply chain? How should trade promotions be structured to maximize their impact while minimizing the additional cost they impose on the supply chain? Manufacturers use trade promotions to offer a discounted price and a time period over which the discount is effective. The goal of manufacturers such as Kraft and Sara Lee is to influence retailers to act in a way that helps the manufacturer achieve its objectives. These objectives may include increased sales, a shifting of inventory from manufacturer to retailer, and defense against the competition. Trade promotions may cause a retailer to pass through some or all of the promotion to customers to spur sales, which increases sales for the entire supply chain. What happens more frequently in practice is that retailers may choose to pass through very little of the promotion to customers, purchase in greater quantities, and hold this cheaper inventory in greater quantities. This action increases both cycle inventory and flow times within the supply chain. Trade promotions should be structured such that a retailer’s optimal response benefits the entire supply chain, i. e. , retailers limit their forward buying and pass along more of the discount to end customers. If the manufacturer has accumulated excessive inventory, then a trade promotion may provide sufficient incentive to the buyer to forward buy, thus drawing inventories down to an appropriate level. The manufacturer may be able to smooth demand by shifting it to a period of anticipated low demand with a trade promotion. Research has shown that trade promotions by the manufacturer are effective for products with high deal elasticity that ensures high pass-through (passing the discount on to the consumer) and high holding costs that ensure low forward buying, paper goods being the poster child for this combination. Trade promotions are also more effective with strong brands relative to weak brands and may make sense as a competitive response. 8. Why is it appropriate to include only the incremental cost when estimating the holding and order cost for a firm? The cycle inventory models discussed in the chapter are robust; thus incremental (variable) costs per lot size are more important than costs that are fixed with respect to lot size. The labor component of procurement or setup costs may be salaried; therefore changes in lot size do not impact this component.

My Writing Experience

Cody Dwells 1-21-13 English 101 My writing experience hasn’t always been good. In fact I’ve had to get some help with it. I was the type that didn’t know how to start a sentence or end one. The help that I got was in grade school, and it really made me get looked down on, so that’s why I didn’t ask for help any more. This had a big impact on me. It made me not want anything to do with writing, because I thought I wasn’t any good at it.My senior year in high school I was put in Mrs. Effie Stidham’s class. She was the new teacher that year and no one really knew her, but she cared for her kids in class. She was the type of teacher who would really help with any problem, and she would do it in a way nobody else knew. The second day of class we had an essay to write, and it was about stop lights. Well I talked to her and told her about my problem. About me not liking to write and wasn’t that good at it.So she came up with the idea f or me to write about anything I could, so the first thing to hit my mind was some personal problems I had been having. One page led to another and it really felt great to get it out and off my chest. After I stared to write about all my problems I felt free, like I was expressing myself and doing away with my problems. That’s when my writing experience changed, it changed for the best. The only real problem I had was run on senesce and where to put comas.I had got into college, and my first year I took English under Randy Moon. He had brought new things to the table. Things that I needed to know, like where to put comas and what a run on was. He offered more help on how to write essays. It was hard for me to start writing essays, because here I was again trying to write about other things. Mr. Moon had made us try something in class one day called free writing. Free writing is where you start off on topic and write if your mind goes blank just keep writing about anything.Befo re you know it your mind goes right back to the topic. This has helped me so much to become a writer. I’m still not the best at writing, but it is a lot easier for me. I have become to like writing it’s one of my favorite subjects now. Writing is a very important part of life, no matter what you do. Sometimes you’re writing can determine if you get the big job or not. If you were like me and about to give up, don’t cause they are help out there you just have to find the right person that is willing to do so.

The And Of The Business - 2089 Words

Alex, Bill, Carl, Devon, and Xavier are all Christians and want their business to be organized and operated in accordance with the Christian worldview. Alex, Bill, Carl, and Devon father ran the business as a sole proprietorship, but they want to form a business entity to own the farm. I am going to be their accountant to help run their business the proper way and right way as Christians should. They are trying to avoid a lot of paperwork, but they also wants to allow their cousin Xavier to handle the day-to-day operations of the farm. Additionally, they want to know ways to minimize their taxes on the entity. They want to keep this a family business; they do not want a stranger owning any part of the business. I think this can be a great thing if their family is on one accord and want to expand the business. When you start having outsiders, they could come in a try to turn things around within the business and make a lot of unnecessary changes. With Xavier being their cousin, I thi nk they have a plan that will make the business successful. As stated above, in this case the form of business organization used by the deceased father is a sole proprietorship. A sole proprietor is someone who owns an unincorporated business by himself or herself (Sole Proprietorship, 2015). This form of business organization is a business in which one person is in control of the management and profits. A sole proprietorship has its disadvantages and advantages. With sole proprietorship, youShow MoreRelatedBusiness Impact Of Business On Business854 Words   |  4 PagesBusiness impacts each part of individuals lives. Acquiring goods or services that are obliged day by day to keep up and fulfill lives are the reasons why organizations succeed. Creating a business can be a troublesome assignment, when a person starts a business so many risks can develop. Not only is he or she considering the risks but the most important decision one has to make is to select the type of legal structure for the organization. This decision will have an impact on the amount of paperworkRead MoreBusiness Analysis : Business And Business1207 Words   |  5 PagesActually, the cost of sale for the Business to Business is outrageously priced and typically larger than the business to consumer market. The simplest way to describe this is that a business to business transaction always takes more consideration (Lake, 2016). During business to business, you focus on the logic of the product at the time you are marketing it. You pay more attention on the features of the product. There is no personal emotion attached to it while making a purchase decision. You wantRead MoreBusiness Impact Of Business On Business858 Words   |  4 PagesBusiness impacts each part of individual’s life. Acquiring goods or services that are obliged day by day to keep up and fulfill lives are the reasons why businesses succeed. Creating a business can be a troublesome assignment, when a person starts a business so many risks can develop. Not only is he or she cons idering the risks, but the most important decision one has to make is to select the type of legal structure. This decision will have an impact on the amount of paperwork the business will beRead MoreBusiness Writing : Business And Business2101 Words   |  9 Pages Business writing involves the writing of business related materials such as memorandums, business proposals and emails. The main aim of business writing is to communicate both internally and externally. Business writing is therefore a form of professional communication (Butterfield, 23). Business writing unlike other writings should be clear and easy to read so that one gets the message quickly. On the other hand, other forms of writings involve deep research and thus have so many details in themRead MoreBusiness Analysis : Business And Business2361 Words   |  10 PagesEach business has products or services they want to sell to consumers, whether this is the man on the street or a multi-nation organisation, the difference in which person they targets will depend on what the product or service the organisation is offering Business to Business Business to business markets is, for example where to company engage in a transaction of a product or service, this could be a waste management company removing waste from a warehouse that produce a vast amount of waste. AnotherRead MoreBusiness Plan For A Business1223 Words   |  5 Pagesstarting your own business is to prepare a business plan. A business plan is a written document describing your business future. It tells potential investors and customers what your goals are for the company and how you plan to achieve that. You will need to define your business, products and services, operating procedures and the route your company intends to take to achieve the goals that are set forth. This information summarizes the sense of your business in a single document. Business plans are inherentlyRead MoreBusiness Plan For A Business882 Words   |  4 PagesStarting a business can be very difficult. It can often take an immense amount of start-up funds that new entrepreneurs donâ⠂¬â„¢t have. However, based on the point in someone’s life at which they want to begin a business endeavor, their credit score may not allow for approval of certain loans or funds. Therefore, a new company, ZipCap, has started an innovative approach to borrowing funds for small business owners. For ZipCap, â€Å"The aim is to offer small retailers like restaurants, boutiques and serviceRead MoreBusiness Plan For A Business998 Words   |  4 PagesIntroduction Prior to initiating a business, it is necessary for the management and the people involved to make sure that a proper business plan is set out in order to understand the needs of the business. In addition to this, it should also be made sure that the market is properly analysed and all the competitors are studied before taking any step related to the new business. Every business has different needs and is initiated in a different scenario. The business plan under evaluation in this paperRead MoreBusiness Plan For A Business1276 Words   |  6 PagesA business plan is sometimes ignored by some people, but I think it is important to develop a good business plan. I think this should be an interesting topic to discuss about. Yesterday, I receive a phone call from a new client asking for help to build a business plan for his new business. My role in this part as a business consultant is to not blindly do the work for my client but asking them questions to generate information about his i deas, and level of involvement to better help him build hisRead MoreBusiness Plan For A Business840 Words   |  4 Pagesâ€Å"Business plans are statement of a business goals, reason they are attainable and plans on meeting it’ (FoxBuisness, 2013). A business plan maps the course and gives a detail plan on how these goals are achievable. It is also important to establish a solid business plan for funding. Some small business use venture capital, bank loans, personal funds, and private investors as sources of funding. The business plan must therefore, sell investors. A well-written convincing business plan can buy investors

My Personal Journey On Social Work - 8705 Words

My Personal Journey to Social Work The decision to pursue my education in social work at Dalhousie University was not an easy one. While I was growing up, my career choice changed all of them time, but I always knew that I wanted to do something fulfilling, in which I could â€Å"help† and support people. My mom was a nurse and always loved helping people; I always figured I would follow in her footsteps, however I learned at an early age that sciences do not come easy to me. Unfortunately, my mom lost her battle to breast cancer when I was eight years old, so I hope that by me helping people socially, rather than medically like she did, will continue her legacy. I decided to obtain my Bachelor of Arts degree at Saint Mary’s University in Halifax, N.S. where I double majored in Criminology and Sociology and minored in Psychology. Once I graduated, I still did not know what career path was right for me, so I took a year off. In the meantime, I applied to three Schools of Social Work: Dalhousie University in Halifax, N.S., St. Thomas University in Fredericton, N.B., and Memorial University in St. John’s, N.L. I spent my gap year working to save up money so I could pay for my next two years of schooling. I decided to apply to schools of social work because I was really interested in my courses that were related to child development and behaviours, interactions between people and society, social inequality and justice, and human rights, which are all relevant to social work. IShow MoreRelatedPersonal Statement : Personal And Professional Goals1684 Words   |  7 PagesPersonal / Professional Goals I completed my BS in Human Services in March 2015. Since that time, I have been researching many colleges fluctuating between the MSW, MFT and Mental Health Counseling degrees. I consider my graduate school decision to be a positive life-altering decision requiring much thought, and research. 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This task helped me learn more about the insurance system and howRead MoreMental Illness Is A Taboo Subject834 Words   |  4 Pagesconcepts of mental illness during my high school years. At that time, I had a very close friend who suffered from depression. She c onfided in me that she was considering suicide. Shortly after our talk, I called her mother because I believed that her disclosure wasn’t a spontaneous, knee-jerk statement but a true threat to my wonderful friend. Her parents took her for evaluation, and she spent time in Havenwyck Hospital where she began treatment. She is still my wonderful, beautiful friend todayRead MoreFresa y Chocolate and The Borderlands1467 Words   |  6 Pagesas individuals, the conscious experience of the self-inside. (Kaufman cited in Anzaldà ºa, 1987, p.84) The objective of this essay will be to interpret the contradictions of identity produced in the movie Fresa y Chocolate and The Borderlands. 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The Church Of The Christian Faith - 1392 Words

Wesley believed that the living core of the Christian faith was revealed in Scripture, illumined by tradition, vivified in personal experience, and confirmed by reason. Stephen Gunter writes, Perhaps no theological topic has been the focus of more debate with The United Methodist Church over the past quarter century than the Wesleyan Quadrilateral . It should be noted that John Wesley never used the term Wesleyan Quadrilateral to describe his process of theological affirmation. The Wesleyan Quadrilateral has been misinterpreted to mean four equal sides; however, it was never meant to be understood that way. Scripture is always the most essential authority for determining our beliefs and practices. The Bible was so important to John Wesley s faith that he referred to himself as homo unius libri or a man of one book (The Bible). John Wesley believed that Scripture was the primary source for theological reflection and Scripture should be read and interpreted in context and as a whole . The role of tradition in Methodist theological thinking is another important aspect of the Quadrilateral. Ted Campbell writes, Methodism, Wesley claimed, was in continuity with the religion of the Bible, the religion of the primitive Church, [and] the religion of the Church of England . John Wesley was trying to illustrate that the tradition and history of the Church is vital to the understanding of our theology. The apostolic church s beginning is something that we should beShow MoreRelatedThe Church : A Diverse Body Of Persons Professing The Christian Faith1304 Words   |  6 PagesCB- Final Paper- PP The Church is a diverse body of persons professing the Christian faith. The people called Christians are those that understand and witness the birth and death of Jesus Christ. This conveys that they believe Jesus Christ to be the begotten son of God, the creator of this world. â€Å"Church† is a term that is used to identify Christians that exist in different parts of the world. 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As Avery Dulles maintains, â€Å"theologians have taken faith to be the fundamental

Discuss the Relationship Between Great Britain and the North American Colonies free essay sample

This war was one f the first wars that would be fought on a global scale requiring more resources to aid in the war effort. Britain poured very large sums of money into the war in order to protect the colonists. By the end of the war, after Britains victory and the signing of the treaty of Paris of 1 763, Britain had expended much of its resources. Americans, after hearing the news of Britains victory in the war, were readily making plans to venture westward into newly acquired lands.Britain, fearing that Indians would attack the colonies, quickly passed the proclamation of 1763 prohibiting settlement est. of the Appalachians. Doing this was one effort to prevent future conflicts that would in turn require Britain to utilize more of its resources. Britain had dug an economic hole so deep that it would require vast amounts of dirt to refill it. Where was the money to come from? The Americans, having barely supported the war effort, would become the mule that was to carry the burden. We will write a custom essay sample on Discuss the Relationship Between Great Britain and the North American Colonies or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The war was in fact fought to protect the colonies; thereby the colonists should have to pay for the money that was used for their own defense. Britain embraced this idea ND started passing tax acts and enforced the navigation acts. Of the acts that were passed to raise tax revenue the first was the Sugar Act. This act placed a tax on all sugar that was imported into the colonies. Another act that was passed was the stamp act which placed taxes on playing cards, marriage licenses and other printed goods.The colonists showed fierce resentment to this as they eventually formed the stamp act congress. As seen in Document B sections Ill and IV the colonists believed that they did not need to pay these taxes as they were not even being Implemented y their own government. Other forms of resentment would arise as groups known as the sons of liberty and daughters of liberty would be formed. In document C It Is shown that the sons of liberty were a group of common townsfolk workers.These men and women would cry for liberty, no stamps, and property as they believed that they should not have to pay for the taxes. They also enforced importation agreements to make other fellow colonists support their cause to rebel against the mother country. The navigation acts also posed as a serious threat to the colonists as they forced read specifically between them and England exempting other countries from the sell goods to other countries as they could possibly obtain larger profits as they could sell more goods and at higher prices.In document D Benjamin Franklin talks about how the colonists are restricted to trade with England except for the smuggling that occurs between Spanish and colonial trade. He feels that some action should be taken that would eventually b etter the colonies economically. Overall, economics were the roots of the weeds that had been planted by Britain sparking a major conflict that cost them an entire nation.

KES The Play Essay Example

KES The Play Essay The play Kes portrays the life of a fifteen years old, Billy Casper, who lives with is mother, Mrs. Casper, and his step-brother Jud. The play occurs during and after Billys last days at school. It shows the way Billy was feeling toward his hawk, and the way he was affected by it. The play takes different stages to build up the plot, Billy notices the hawk in the farms near by his house, getting impressed by the way it lives, catches its food, feeds its youngs. Billy starts to have thoughts about having a hawk as a pet or as an animal that he would care after, and keep for himself. The story takes place in the surroundings of Billys life: his house; newsagent, as he works there for Mr. Porter; Macs house, as the play provides the sense that he is the only friend he has, apart from the argument and fights they have had in the school; the public library as Billy has nicked a book about falconry that had helped him to deal with his hawk and provided him the knowledge he needed to take good care of his hawk; the school that Billy attends, as the play takes some parts in the school and as he faces some trouble there; and some local shops that he passes by. We will write a custom essay sample on KES The Play specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on KES The Play specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on KES The Play specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Billy is not welcomed by the people he lives with as it shows in his behavior with them, his attitude towards them, and their behavior and the way they treat him. His mother at the beginning of the play accused him of having fags, even thought she sounded like not being sure, and then she asked him for several things to get her before going to his school. I think due to her accusing him of having fags he refused to get her the cigarettes and other things she asked for, giving an excuse that he will be late for school. Some days later Billy goes to Macs house, as he needed someone to go with to the birds nest, watching them fly, land, feed and look after there kids. Macs mother mistreated him by telling him bugger off you little sod, as a reward of throwing a hand full of dirt at the window after she refused to wake up Mac giving reasons that its still early for him to hang out. Billy and his brother Jud dont live a good relationship, it goes on at the beginning of the play, as Jud refuses to set the alarm for Billy, he drains the milk pot so he wont leave any for Billy, being pessimistic with Billy Jud tries to convince him that he will only find work down the pit after he finishes school, for that Billy eats Juds snap that Jud has prepared for work. But Billy tries not to think about working there as it shows from the way he was talking to the teacher when he was offering a job down the pit, but Jud keep on telling him that he cant work down the pit either because he cant read and write or either because he is not tough enough to work there as he calls him a weedy little bugger. As things were go on good with his work boss Mr. Porter in his newsagent shop until Billy shakes the ladder that Mr.Porter was standing on, on purpose that made Mr. Porter calls him You clumsy young bugger. Mr. Porter was quite worried that Billy might not be able to deliver all his papers at time, as his brother Jud have taken his bike, and that might cause him some loss in his shops profit if Billy delivers the papers later than he is supposed. I learn that these people treat him generally in the same way, but with a difference from one to the other. I think Billy likes to have conversations with people even though he dont know them, as when he was delivering his papers in the early morning, after leaving Mr. Porters newsagent, and saw the milkman who started an conversation with Billy about having something to deliver his papers with even if its a Third class riding which is better than first class walking, as the milkman thinks, but according to Billy that is no good as he says that it do no more than five miles per hour, and that he can do faster on a kids scooter.