...companies can employ to safeguard itself against foreign losses. The foreign exchange market is a market that converts currency of one country to that of another country (Hill, 2011, p. 313). The foreign exchange market has two main functions, the one of currency conversion mentioned above and the other is to provide some insurance against unpredictable changes in exchange rates (Hill, 2011, p. 313). Hedging is the process of insuring one’s business against foreign exchange risk. Two of the most common strategies used by businesses as a means of hedging is forward exchange and currency swap. By engaging in forward exchange, two companies agree to exchange currency and finish execution of its agreement at some specific point in the future. Forward exchange rates are commonly quoted for 30 days, 90 days and 180 days for major currencies (Hill, 2011, p. 317). By engaging in forward exchange the participating business knows the rate at which the transaction will occur and guards itself against unfavorable and sudden changes in the market. Businesses can use spot exchanges as another means to execute a deal. This can be argued as a way of safeguarding against significant losses in a foreign market because the transaction is happening in real time and the participants know exactly what they are dealing with. Changes in spot exchanges occur continuously but tend to be minimal. By following trends identifying currency cross rates, companies can decide when to...
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...------------------------------------------------- Top of FormBottom of Form | Journal of International Business and Economics, Dec 2011 v11 i4 p142(5) An analysis on the long-term effects of rural labor migration in China based on the Markov chain method. Huang Ningyang; Charles Corcoran; Gong Meng. Author's Abstract: COPYRIGHT 2011 International Academy of Business and Economics The migration of rural labor to non-agricultural sectors helps solve three agriculture issues in China: dated agrarian methods, an overpopulation of rural areas, and an excess of supply of farm labor. But a large population and fast economic development may impede the process. The proportion of rural labor is large and the labor force participation rate is high, while education levels are low. Further, the elasticity of employment is low, while economic growth is much faster than rural labor employment growth. Based on questionnaire data investigating rural labor markets, and utilizing the Markov Chain Method, a forecast is made of when the rural labor shift will stabilize, along with the three employment states' probabilities: (1) working and residing on the home farm, (2) leaving home but working near their hometown, and (3) leaving home and working far from their hometowns. It is projected that the rural labor shift will stabilize in 24 years. The probabilities of the three employment states mentioned above will be 5.9%, 45.4%, and 51.2%, respectively. These findings may contribute to policy decisions...
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...by appointment REQUIRED Textbook: Inventory Control and Management, 2nd Edition (2003), Donald Waters, John Wiley & Sons, ISBN: 978-0-470-85876-9 RECOMMENDED Textbook: Principles of Inventory and Materials Management, 4th edition (1994), Tersine, Richard J., Prentice-Hall, ISBN: COURSE DESCRIPTION: Deterministic/stochastic systems with static/dynamic models. Use of forecasting techniques. Practice of inventory management, manual and computerized procedures and MRP. Case studies in inventory systems management. Prerequisite: 3 hours undergraduate Production and Inventory Control or equivalent. LEARNING OBJECTIVES: Upon completing this course, the student should be able to: 1. Define the main terms used for inventory management 2. Explain how the inventory management are set within an organization 3. Derive and calculate an economic order quantity 4. Calculate the best order size and optimal batch sizes 5. Understand the principles of services level and safety stock 6. Do an ABC analysis of stock and understand the role of warehousing 7. Use a variety of judgmental forecasting methods 8. Describe the characteristic approach of material requirements planning (MRP) and just-in-time (JIT) operations TOPICS TO BE COVERED: This schedule is subject to change due to the time constraints 1. Introduction: Stocks and Inventories 2. EOQ 3. Models for known demand 4....
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...littleparrisconsultants, 460104133, 460092117, 450108684, 460104915, 450103900 littleparrisconsultants, 460104133, 460092117, 450108684, 460104915, 450103900 [Draw your reader in with an engaging abstract. It is typically a short summary of the document. When you’re ready to add your content, just click here and start typing.] [Draw your reader in with an engaging abstract. It is typically a short summary of the document. When you’re ready to add your content, just click here and start typing.] [Document title] [Document subtitle] [Document title] [Document subtitle] EXECUTIVE SUMMARY In this context, the general manager who is new to a distribution company and his background is HR. He called our consultant group in because he has concerns that he doesn’t have the right level of logistics and supply chain expertise. Furthermore, he thinks the business lacking having a supply chain strategy and the company was carrying too much inventory. This distribution company, located in north Melbourne, that sources most product from its parent company in us. Their product is best described as ‘fashion’ stationery. In this case, all the members of our group had interview the general manager, the finance manager, the sales and marketing managers, the operations manager and the inventory planner of the distribution company. Our teams had prepaid some questions and investigate the whole company. We find that some problems in each division and provide some recommendations to solve...
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...any organization, particularly those engaged in the fabrication and distribution of a product such as Starbucks. Capacity management refers to the design and control of an organization’s processes such that it can meet demand in a timely manner. Capacity management includes proper sizing and allocation of resources including workers, raw materials, inventory, equipment, space, and technology. Inefficient capacity management can have substantial impact on a business, either because it will not be able to meet demand, or because there would be too much idle inventory, raw materials and other resources. Effective capacity management requires good demand forecasting for proper planning on the aggregate (Chase, Jacobs, & Aquilano, 2006). In the case of the new Starbucks yogurt and ice cream products, the company needs good forecasting on daily, weekly and seasonal demand for these products. Each store needs to be supplied with the required equipment and receive sufficient raw materials to meet daily demand. Just-In-Time. Just-in-time (JIT) is a production model to meet demand without incurring in unnecessary surplus or inventory build-up. The purpose of JIT is to reduce the expense associated with excess inventories and overproduction. JIT requires a predictable forecast of product demand. It is a good idea to maintain sufficient safety stock just in case there is an unexpected increment in demand (Hartman, 2009). Starbucks can use a JIT model for its ice cream and yogurt lines...
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...humorous, optimistic, and engaging. The content is eye-opening, insightful, terrifying, and thought-provoking – simultaneously. Being both informative and enjoyable, the writing style reminded me of Freakonomics in many ways. Graphic devices such as flow charts, cartoons, diagrams, data tables, and other illustrations made the information easier to understand. The author incorporates case studies, anecdotes, literature, quotes, theory, popular culture and other elements to enhance the entertainment value of the work. This is the world that we live in. On a daily basis, the subjective choices we make are compiled and used to forecast myriad outcomes for future decisions. While admitting the odds of predicting the behavior of an individual are less likely, the author readily asserts that data is used more effectively to anticipate the preferences of various groups of people. Through this book, I learned that predictive analytics is the intricate process of connecting scraps of information about groups of people in order to estimate the actions of group members. Although individual calculations are not often accurate, and are routinely one percent or less, a fraction can represent an advantage of millions of dollars when applied to a sizable group. It is important to note the distinction of predictive analytics in comparison to established practices of forecasting. While forecasting tends to focus on extensive...
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...Chain Analysis The value chain analysis identifies all of the activities and strategies the organization must perform to conduct a successful business. (Potter) .The activities are classified into primary and support activities. Each of the activities performed will add value to the product and services provided by an organization. LEGO had incorporated various strategies to gain a competitive advantage. LEGO’s inbound logistics was not in proper shape. There was no control over the inbound logistics and management of inventory. The supply and demand of the goods was not in parity. In most situations, the forecasting was done dynamically without any evaluation of estimates. Later, LEGO management team synchronized the sales supply and demand by starting a sales and operations planning process (S&OP). This technique helped LEGO to optimize their demand planning, forecasting and inventory management. LEGO can accurately estimate their demand, supply and estimate customer demand for particular product during a given period. Using demand planning to develop accurate forecasts is critical for effective inventory management. Forecasts are compared to inventory levels to ensure that distribution centers have enough, but not too much, inventory to supply stores with a sufficient amount of product to meet demand. The optimal amount of raw materials was released to cater to the demand. This played a pivotal role in building an efficient supply chain management. VALUE CHAIN ANALYSIS FOR...
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... accounting, and customer services. Able to handle challenges, with proven history of increased productivity. Active as a role model and mentor for new trainees engaged in on-the-job training. A high degree of expertise in the following residential, commercial accounting. PROFESSIONAL SKILLS August 2011-Present Pioneer Metal-Receptionist/Administrative Assistant-Gaffney SC • Direct business relations and distribution of company literature to stimulate client interest and sales leads. • Provide telephone support, investigated and resolved budget problems • Develop presentations for related on-and of- site meetings • Increase productivity and efficiency of technological services by engaging in troubleshooting processes • Perform forecasting, budgeting, scheduling • Direct shipping & receiving dispatching • Provide email support and resolved client issues • Implement logistics and product ordering July 2009-August 2010 Root Rooter Plumbing- Administrative Assistant/Accounting- Fort Mill SC • Liaison between senior management , employees and clients • Establish and maintain employee files reflecting salary increases, deductions, garnishments, benefits-payroll, and W-2 with holdings, exercising a high level of confidentiality • Research account transactions, demonstrating a keen ability to recognize and resolve discrepancies • Follow through on timely and accurate...
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...Eco-30043 Economic and Business Forecasting Assignment 2012/13 A year ago you were hired as an entry-level assistant business analyst by an advertising agency. Last week, top management requested a review of household consumption behaviour in the United Kingdom. They are particularly interested in whether the recent financial crisis and the economic recession that followed, have permanently altered consumption patterns in the country. The chief analyst, and head of your department, holds a briefing with the entire team in order to assign tasks. You have been asked to do what you have been doing since day one, which is secondary data collection. Confident in your abilities, you see this as an opportunity to gain a more substantive role within the department. You argue that you can provide a thorough and sophisticated analysis of consumer expenditure, complete with reliable forecasts for the foreseeable future. You suggest preparing a report on the analysis of only a subset of goods and services to showcase your technical and analytical skills. The chief analyst agrees to consider your work. If the report you present is at par with the required standard, both in technical detail and analytical discussion, you would be assigned a more prestigious role in the larger scale project, which could lead to a promotion within the department to a more senior level. You are forwarded the data file report1213.dta, which contains, among other, information on UK household expenditure on certain...
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...Supply Chain Management Establish a governing supply chain council. A governing council's purpose is to give direction and help align supply chain strategy with the company's overall strategy. The council's membership should include the leader of the supply chain organization as well as corporate executives, business unit managers, and other influential company leaders. Ideally the council should hold regularly scheduled meetings. But even if it doesn't, its mere existence will indicate that supply chain management has the endorsement and commitment of senior leadership. We often see supply chain organizations struggling for recognition because their objectives and strategies differ from their companies' stated objectives and strategies. A governing council can prevent that from happening by providing constant, consistent validation that the supply chain strategy directly correlates with the corporate strategy. The council can also help to remove barriers to success that exist within the organization. Every company has such barriers—usually individuals or organizations that don't see or accept the value that a well-managed supply chain provides. By addressing these barriers, members of the council help to ensure that the supply chain organization is given the opportunity to perform up to its potential. When it is clear that the executive leadership is fully embracing the supply chain organization, it is likely that key business-unit stakeholders will be more willing to work...
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...value in the company through enhanced human resource skills capacity. The program provides financial assistance to Prince Edward Island businesses to acquire the professional expertise that will assist in the design, development and implementation of a human resource strategy. ELIGIBLE ACTIVITIES Human Resources planning and implementation in an ongoing process involving the development and implementation of policies and procedures that lead to a comprehensive human resource strategy. Components may include, but are not limited to, the following areas: • • • • • • • Proactive workforce planning and forecasting Creating an enabling work environment Effective recruitment and interviewing Training and leadership development Performance management HR indicators for measuring effectiveness Compensation, incentives and benefits LEVELS OF ASSISTANCE • • Fifty per cent of the cost of engaging outside expertise associated with the design, development and implementation of a human resource strategy focused on the growth and retention of employees. Maximum allowable assistance is $5,000 OTHER CONDITIONS Other conditions when evaluating an applicant’s request for assistance may include: • Potential for long‐term viability • Cost benefit to the Province • Employment creation/retention • Availability of program funds • Level of assistance from other government programs offered or available Over .. Page 1 of 2 PERFORMANCE MONITORING The Human Resource Implementation...
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...compliance in a global supply chain, describe implications of the Foreign Corrupt Practices Act in global operations, assess strategies for ensuring adherence to ethical labor practices, analyze the use of supply chain visibility to ensure equal treatment of partners, and evaluate the role of ethics and regulations in an effective and efficient supply chain. Seagate’s use of visibility to ensure an effective and efficient global operations and supply chain process Seagate characterized it supply chain as a real time demand forecasting process by removing the lag time between supply chain lead time and customer acknowledgement. Seagate has many customers all around the globe, at the same time there are customer as well have different locations within the same firm where the products have to be shipped. Seagate manages with a real time/just in time supply chain process, removing the inventory holding and carrying cost associated with a forecasting system. They have managed to arrange a holistic supply chain model on the base of technologically systems which integrate both suppliers as well as...
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...De La Salle University Ramon V. del Rosario College of Business Management and Organization Department Written Report Submitted in Partial Fulfillment of the Requirements in Human Resource Management with Organizational Behavior Term 2, A.Y. 2015-2016 EMPLOYEE DEVELOPMENT PLAN Submitted to: Dr. Margaret Que Submitted by: Jonathan Geraillo Submitted on: 13 April 2016 Company Overview ABC Company is Asia-Pacific’s leading background screening, end-to-end risk mitigation and talent acquisition solutions provider. Headquartered in Florida, and providing screening services globally, ABC Company pioneered Asia Pacific’s background screening industry and has led the industry in setting background screening benchmarks as it expands operations throughout the region. ABC Company empowers the customer to make quicker, more confident decisions by offering in-depth criminal background checks, public record searches, employment verification, professional and education checks. ABC is a leader in information retrieval with up to 6 million searches a day, assisting thousands of customers - from small companies to global organizations. Human Resource Objectives ABC Company (ABC) Philippines Human Resources should be a business partner in ensuring that business objectives are effectively met as strength is leveraged on talent capabilities and workforce excellence. While corporate mission and programs must always come...
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...Today, the world is moving in lighting fast pace in terms of research and technology, but it does make sense to those who can afford its benefits and accessibility. Though, we are building satellites and nuclear reactors, but are these really helping the common middle man? Yes, television broadcast and weather forecasting or determining atmospheric characteristics by remote sensing makes it more relevant and indirect. I know it’s not an individualistic approach but a nation’s approach towards building a sustainable future, but again how is the future sustainable, if the basic necessities of human life is not fulfilled? From Cloud Computing to Solar Technology to Quantum supercomputers to Nanotechnology to Robotics, this century will be identified as the global technological age sooner or later. There are few initiatives which I would like to mention in eradicating the social causes and making the world a better society to live in. Apple Inc. is building an application which is digitizing the textbook content and converting into e-books making it more convenient for the students to access it. It will be a revolution in terms of Education and a mentioned dream of Steve Jobs in Walter Issacsons’ book. As per an article from BBC News, “More than 600 million people worldwide have some sort of access to the internet, but that still leaves about 5.5 billion people who do not use the net and who have no access. Most of these people live outside the developed Western countries...
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...BANKING STRATEGIES Case Study: Product Innovation at Bank of America By Cindy Murray What financial institutions can learn from inventions and innovations in other industries. owhere is innovation more essential to survival than in the banking industry. In the payments domain, for example, nonbank competitors less constrained by bank regulations and therefore more agile are changing the banking industry’s grip on the public perception of banks as the only trusted brand for holding and moving money. However, innovation is challenging for banks. Many products, like payments, are a commodity. A vast number of products and a complex infrastructure require continual upgrades to keep apace with technology advancements and comply with evolving regulations and security requirements. This article describes how Bank of America fosters a culture of innovation. Pivotal to an innovative culture is the direct engagement of clients in the innovation process. We highlight some of the ways that Bank of America achieves this. But first we’ll look at the role of innovation process in building brand loyalty. N Build Brand Equity Through Progressive Transformation Change can occur by redefining a problem or redefining a solution. According to Robert Sternberg, a leading creativity expert,1 creativity is the ability to redefine a problem. Innovation can be viewed as the ability to redefine a solution. Successful innovation is a process over time—one that typically happens in increments rather...
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