Chain

In: Business and Management

Submitted By bonzaieze
Words 993
Pages 4
I have to say I agree on what you say about Albert Bandura also explains in his theory that children become more of what they are adapted. For instance, if a child grows up in a home where both parents are in and out of jail for robbery and drugs, that child is more likely to grow up thinking that this way of life is normal. So many children out there have ended up on a dead end road just because of the childhood they had. They grow up thinking that all these wrong things are a way of life.
When children grow up in homes that are stable and well adjusted, the children have more of a chance to do well in life. Kids need a balanced family and when they do not have what they need to mold them into strong adults, they fall into some of the horrible things this world has to offer to them.

In today's world there are many issues in need of reformation, one of which is international trade, otherwise known as globalization. Although there are a great deal of rules, regulations, and policies imposed on international trade, the manner in which those rules have been enforced is a major controversy that seems to be escalating day by day.

At the center of the controversy is the World Trade Organization (WTO). The WTO was established in 1995 in order to transform the General Agreement on Tariffs and Trade (GATT) into an enforceable global commercial code. Critics of the WTO say that instead of being run democratically and in the interest of member countries, it has become the enforcer of corporate managed trade. A system whose ethics are not in favor of the public interest, instead the focus has shifted to large corporations and making money. Profit is the motivating factor behind decisions made by the WTO. By looking at international trade from the rational perspective, the WTO has not only failed to protect consumers, workers, and the environment, it has also…...

Similar Documents

Supply Chain

... and supply the test data, with the shipment, to the buying firm. If the seller does the requisite outgoing quality checks and can be depended on to do them correctly, the buying firm then can eliminate its incoming inspection procedures and attendant costs. This approach almost always is a key element in any just-in-time purchasing system. | | | | Risk-management strategies: | Risks in the supply chain can be classified into three main categories: (1) operational: the risk of interruption of the flow of goods or services, (2) financial: the risk that the price of the goods or services acquired will change significantly, and (3) reputational risk. | | | | A strategy: | an action plan designed to achieve specific long-term goals and objectives. | | | | Supply chain support strategies: | Designed to maximize the likelihood that the considerable knowledge and capabilities of supply chain members are available to the buying organization. | | | | Zero defect (ZD) plans. | "Do it right the first time" is far more cost-effective than making corrections after the fact. |...

Words: 359 - Pages: 2

Chain

...Supply Chain Logistics Systems Memo Laniece Seamon University of Phoenix ISCOM 352 January 21, 2013 The increased rate of change within the economy was driven by a number of large level forces, due to empowered consumers, technology, globalization, shifts in economic power, and regulations. All of these elements of change raised the importance of supply chain management as a strategic move to gain a competitive advantage. Supply chain management involves integrating three key components across the board within a company’s supply chain; they are information, product or materials, and cash flow. The order processing pertains to the flow of information within the logistics system, which includes several operations. Customers may be required to fill out an order form for requested products. The order is then transmitted and checked. The customer’s items are checked to see if it is in stock and then payment is verified. Next, the items are retrieved from the inventory, packaged and delivered along with their shipping documents. Lastly, the customer must be informed about the status of their order. Inventory management is an important role within logistics system operations and planning. Inventories are stockpiles of products or goods waiting to be transported, manufactured, or sold. Logistics management is a balancing act between minimizing costs and ensuring the availability of goals. Appropriate decisions must be made between key elements such as inventory...

Words: 728 - Pages: 3

Critical Chain

...CRITICAL CHAIN METHOD Critical Chain Project Management (CCPM) is a methodology for planning, executing and managing projects in single and multi-project environments. Critical Chain Project Management was developed by Dr Eli Goldratt and was first introduced to the market in his Theory of Constraints book “Critical Chain” in 1997. It was developed in response to many projects being dogged by poor performance manifested in longer than expected durations, frequently missed deadlines, increased costs in excess of budget, and substantially less deliverables than originally promised. Problems with traditional project management When planning for an upcoming project, estimates for task durations are required. In order for the plan to be treated as realistic, much time is spent ensuring estimates are accurate. Accurate estimates give us increased probability and high-confidence in the task completing on time. This allows additional safety time beyond the work content time required to be embedded within the task duration. The more safety in a task the more there is a tendency to behave in the following ways: * Not starting the task until the last moment  (Student Syndrome) * Delaying completion of the task  (Parkinson’s Law) * Murphy’s Law Student Sydnrome: The student syndrome is a form of procrastination, but it usually includes more of a plan and sincerely good intentions. For example, if a student or group of students goes to a professor and asks for an...

Words: 2444 - Pages: 10

Supply Chain

...· Location of Business · Suppliers and Supply Chain · Shipping & Storage of Inventory · Equipment Needed How will you acquire, process store and distribute all the necessary materials? Why did you choose a specific supplier? Location The TJX's Corporate Headquarters are located in Framingham, Massachusetts. The proposed business location for the Cartsaurus will be in Boston. This is an excellent location to serve our target market. Because we are first focusing on selling our product to TJX Companies and it’s easier for us to communicate issues about business. The company will be located on high traffic commuter routes. Locating a facility with easy access to natural resources or suppliers helps we keep transportation costs low. Suppliers Cartsaurus is currently in trial run and we planned to make 1000 shopping carts as variability test in 50 TJMaxx and Marshalls stores. Company is in negotiations with two Kansas manufacturers to supply shopping carts. It will establish a relationship with a reputable shipping company and a freight agent to aid in the smooth transition of product from the manufacturer to our distribution center. Cartsaurus wishes to establish long-term loyal relationships with its suppliers. Factors such as history, reliability, reputation, delivery system, service, product guarantees and liability issues will be crucial in the final decision. Due to the company's expansion plans in years two and three, it is......

Words: 278 - Pages: 2

Supply Chain

... a wide range of Snacks and Beverage for both National & International market alike. AFBL is a project worth $ 70 million& is funded by the parental company Akij Group. FARM FRESH MILK: The FARM FRESH MILK is a brand of milk and milk made product of Akij Food & Beverage Ltd. Farm fresh milk consists of UHT milk, pasteurized milk, chocolate milk, mango milk, butter, clarified butter (Ghee) and yogurt. The brand entered the market in September in 2007. Firm Fresh Milk Supply Chain: Supply chain means managing upstream and downstream value-added flows of materials, final goods, and related information among supplier, the company, resellers, and final consumers. Firm Fresh the upstream and downstream value-added flows of raw materials, final goods, and related information among supplier, the company, resellers, and final consumers. The figure in bellow described the Firm Fresh supply chain stage: Fig: Stages of Firm Fresh Milk Supply Chain. Farmers: At first, raw material (milk) is supplied by farmers to the Firm Fresh. About 7,500 dairy farmers supplied Firm Fresh in FY2008. Today there are 19,000. Most farmers live in Pabna and Sirajgong( Shahajadpur). Of the 45-50 thousand liters collected 32-35 thousand are now supplied from Pabna and another 3,000-4,000 are received from Shahajadpur (of Sirajgonj district). Historically Shahjadpur and Pabna are the highest milk producing areas and for this reason the plant of Firm Fresh is established there...

Words: 1058 - Pages: 5

Supply Chain

...CURRENT CHALLENGES OF SUPPLY CHAIN MANAGEMENT Acknowledgement It is only because of the grace and mercy of great Almighty ALLAH that we are able to complete our report. Without His help, in no way we could complete it. We are highly indebted to honor Sir Shoaib Ishtiaq (Bahria University) for assigning us such an important and interesting report and for his valuable guidance in carrying out this research study which benefited during our course work in the university. We would also like to extend our gratitude towards the internet & books which helped us greatly. And on the other hand all those people who were directly and indirectly involved in the completion of this project. ABSTRACT Purpose : As the business environment becomes increasingly competitive, companies continuously look for ways to distinguish themselves from their competitors. Companies adapt different Supply Chain Management practices and philosophies to help them become competitive. However, they may face challenges that hinder attainment of the results sought. Here is the study of few challenges that supply chain management are facing in today’s world and some strategies propose to cope up with those challenges. Methods : Firstly the major challenges were search and then some strategies were purpose to cope up with those challenges of supply chain management by giving the examples of case study than how in past companies have faced those challenges and they were not able to...

Words: 8071 - Pages: 33

Supply Chain

...Map the Supply Chain Lydia Federico MKT/421 November 24, 2014 Richard Theroux Map the Supply Chain The area of business that had decided to research is the world of perfumes and colognes industry. When discussing the supply chain of perfumes and colognes production, it is important to discuss both their "brick and mortar" facilities and their organizational web sites. Both the "brick and mortar" facilities and the web sites play a vital role in the success of modern day fragrances industry, so it is important to discuss both. First, the "brick and mortar" environment supply chain.  Describing the supply chain of a traditional "brick and mortar" perfume industry is very similar to explaining the supply chain of a typical business-to-consumer organization. The suppliers provide the materials to create the samples for each fragrance and cologne to be created at different laboratories. The laboratories have the main responsibility of manufacturing the fragrance substances, the formulation of fragrance compounds, the mixing of fragrance substances into fragrance compounds, the formulation of fragranced end-products. They are also responsible for Industrial and professional end-use of washing and cleaning products as well as end-use of polishes and wax blends. All of this needs to be done in order for the fragrances to be safe for the consumer and also for the environment. “The use is considered safe. If the same target is exposed to one substance through...

Words: 797 - Pages: 4

Supply Chain

...Lacey Edwards Memorial University OF NEwfoundland Student Number: 201135217 Lacey Edwards Memorial University OF NEwfoundland Student Number: 201135217 Inventory Essay Business 6415 – Supply Chain Management Inventory Essay Business 6415 – Supply Chain Management Risk pooling is a powerful tool that addresses the variability in the supply chain because it suggests that demand uncertainty can be reduced if a company combines the demand uncertainty from across locations into one. This theory is based on the fact that high demand from one customer will be offset by low demand from another and likewise. As well, this may impact the average inventory because the demand variability may cause a decrease in safety stock (Piramanayagam, 2009). This report will provide a general overview of risk pooling which will include several types of risk pooling, three critical points of risk pooling, as well as examples where risk pooling is critical during supply chain decision making. Piramanayagam (2009) suggests that the concept behind risk pooling is to redesign the supply chain through the production process or product in order to reduce the demand uncertainty or facilitate a company’s needs when dealing with demand uncertainty and there are several types of risk pooling that allows a company to accomplish this: lead-time pooling, capacity pooling, product pooling, and location pooling. Lead-time pooling is when lead-time is reduced by introducing a distribution center...

Words: 955 - Pages: 4

Value Chain

...Michael Porter’s ValueChain    Developed in 1985 by Michael E. Porter in Competitive Advantage Highlights cost advantages and distinctive capabilities--the value processes But note that there is no one template. STRATEGIC COST MANAGEMENT - BA122B - Fall 2006 4-1 Value Chain and the QCT Triangle    VC allows alignment of processes with customers. This generates a quality advantage. VC focuses cost management efforts. VC provides for efficient processes which improves the timeliness of operations. STRATEGIC COST MANAGEMENT - BA122B - Fall 2006 4-2 Value Chain Benefits  Identifies value processes  Identifies areas for cost improvement STRATEGIC COST MANAGEMENT - BA122B - Fall 2006 4-3 from Michael E. Porter’s Competitive Advantage SUPPORT ACTIVITIES Firm Infrastructure (General Management) Human Resource Management Technology Development Procurement Inbound Logistics Ops. Outbound Logistics Sales & Marketing Service and Support Value Chain Model PRIMARY ACTIVITIES STRATEGIC COST MANAGEMENT - BA122B - Fall 2006 4-4 Value Chain Elements    Customer value added Margin orientation Primary activities       Support Activities  Inbound logistics Operations Outbound logistics Sales and marketing Service and support   Human resources (general and admin.) Tech. development Procurement STRATEGIC COST MANAGEMENT - BA122B - Fall 2006 4-5 Goal of Value Chain    Driven...

Words: 431 - Pages: 2

Cold Chain

...Abstract India is going through a retail revolution. All the big business houses are entering this Sector and it is growing at a very past pace. International giants in this sector like Wal- Mart, Tesco and Carefour are also trying to enter the Indian market. Retail is offering Tremendous opportunities in employment. However, our country also poses a big challenge to organized large retailers particularly in food sector. Food being perishable item, for the retailer to be successful the key is proper supply chain management. The challenge comes from a number of factors, e.g. huge size and population of our country, varied culture and hence varied taste, very poor infrastructure like improper roads, bad connectivity between production centers and markets, lack of proper cold chain facility like refrigerated transportation, ware-housing etc. Under these circumstances it is interesting to find out how large organised retailers are coping up with these problems. In this paper a comparative study is made in supply chain management adopted by different players in food and grocery segments. * Dr. Joy Mukhopadhyay, Professor of Sales and Distribution Management, International School of Managerial Excellence Management and Entrepreneurial Academy, Bangalore; email:joymukh@gmail.com National Seminar on Logistics &Supply Chain Management, IASMS, BANGALORE, INDIA 2 INTRODUCTION Food & Grocery sector constitutes about 14 % of the organized retailing in India. Ironically...

Words: 578 - Pages: 3

Supply Chain

...CHAPTER TWO  Supply Chain Management Chapter 2 Supply-Chain Management PROBLEMS 1. Buzzrite Company a. Current Year’s average aggregate value = $48,000,000/6 = $8,000,000 Next year’s average aggregate inventory value = ($48,000,000 × 1.25)/6 = $10,000,000 Increase in the average aggregate inventory value = ($10,000,000 – 8,000,000) = $2,000,000 b. Number of turns to support next year’s sales with no increase in inventory value = (1.25)(6) = 7.5 turns. Thus, the change in inventory turnover = new – old = 1.5 inventory turns, or 25% higher inventory turns. 2. Precision Enterprises. Average aggregate inventory value = Raw materials + WIP + Finished goods = $3,129,500 + $6,237,000 + $2,686,500 = $12,053,000 a. Sales per week Weeks of supply b. Inventory turnover 14 = Cost of goods sold/52 weeks per year = $32,500,000/52 = $625,000 = Average aggregate inventory value/ Weekly sales = $12,053,000/$625,000 = 19.28 wk = (Annual sales)/(Average aggregate inventory value) = $32,500,000/$12,053,000 = 2.6964 turns/year CHAPTER TWO  Supply Chain Management 3. Sterling Inc. a. Average Inventory (units) Part Number RM-1 RM-2 Value ($/unit) 20,000 5,000 RM-3 RM-4 WIP-1 WIP-2 FG-1 FG-2 1.00 5.00 3,000 1,000 6,000 8,000 1,000 500 44,500 Total Value ($) 20,000 25,000 6.00 8.00 10.00 12.00 65.00 88.00 18,000 8,000 60,000 96,000 65,000 44,000 336,000 Average aggregate...

Words: 15067 - Pages: 61

Supply Chain

...The effect of strategy on the use of supply chain management tools – exploratory survey in the Hungarian automotive industry István Jenei1, Krisztina Demeter2, Andrea Gelei3 Budapest University of Economic Sciences and Public Administration, Hungary Abstract Supply chain management (SCM) usually goes beyond company boarders. Cooperating parties are required, who decide to work together. The way how this cooperation evolves depends on the strategies and practices of the parties. In this paper we examine the connection between strategies and SCM practices. Our objective is to analyze how strategy determine the SCM tools used among supply chain parties. The analysis is based on 17 interviews within two supply chains from the Hungarian automotive industry, where supply chains are defined through the car makers (Audi, Suzuki) as focal companies. Our results support the proposition that the connection between strategy and supply chain tools (configurations and practices) is very strong. It is underlined with not only the comparison of the two supply chains but can also be detected in the strategic change at one of the focal companies which resulted in supply chain changes, as well. Besides the main objective a detailed view is provided about the past, present and future of the Hungarian automotive industry. Keywords: Supply chain, supply chain management, strategy, automotive industry, Hungary Introduction content of strategy is required to operate...

Words: 7204 - Pages: 29

Supply Chain

...| | McDonald’s Supply Chain | | | | | | | | | Contents Introduction 3 History 3 McDonald’s in India 4 Supply Chain of McDonald’s 5 Introduction 5 Incorporating Chill Zones – The McDonalds Cold Chain 6 Validation of McDonalds Cold Chain 8 McDonalds Suppliers and Distributors 10 Outsourcing of Ingredients 12 McDonald's Supply Chain – Challenges 19 Conclusion 20 References 21 Introduction McDonald's is the leading global foodservice retailer with more than 32,000 local restaurants serving more than 60 million people in 117 countries each day. More than 75% of McDonald's restaurants worldwide are owned and operated by independent local men and women. McDonald's predominantly sells hamburgers, various types of chicken sandwiches and products, French fries, soft drinks, breakfast items, and desserts. In most markets, McDonald's offers salads and vegetarian items, wraps and other localized fare. This local deviation from the standard menu is a characteristic for which the chain is particularly known, and one which is employed either to abide by regional food taboos (such as the religious prohibition of beef consumption in India) or to make available foods with which the regional market is more familiar (such as the sale of McRice in Indonesia). History The business began in 1940, with a restaurant opened by siblings Dick and Mac McDonald in San Bernardino, California. Their introduction of the "Speedy Service System...

Words: 4390 - Pages: 18

Supply Chain

... and capabilities and all is dialed down for assembly, and the proximity and open market of the multiple EU countries involved in the production that takes out the need of the transportation issues and logistics. 2. Why your Beer Game performance cannot be considered as a component of your final grade in this seminar? The beer game performance is an example of how crucial communication is in the supply chain process. The game where each different station in the production process gives its estimates (that are mostly wrongful guesses) of what will be needed for production only increases the gap between forecasted and actual (bullwhip). The beer game is bound to make you wrong by fluctuating once or twice its demand level and remaining constant throughout the game, something that also cannot be real, and by doing so obliges you to stock some products in Lou of the expected fluctuation. In a supply chain that focuses strictly on information gathered by only one division of the team rather than a full transparency between all the different processes is bound to be mistaken and so cannot be blamed on the student’s performance or efforts. 3. No team in SILOG reached a service level of 100%. Comment about the causes of this fact. No team in SILOG reached a 100 % service value as none of us where able to estimate how much investment is needed in order for our plant to function at a 100 % capacity due to our lack of understanding of the product and order variations...

Words: 1630 - Pages: 7

Supply Chain

...In today’s competitive SCM market, it’s not so much about having the best company anymore, but more importantly who has the supply chain, and who can get the product out to meet standards of the customer? Supply chain managers are continuously faced with this major challenge from the top of their supply chain operations to the bottom. Effective supply chain management of an enterprise reduces costs, lead times, and inventories throughout the entire supply chain. Customers want the ‘perfect orders’ and expectations to reduce manufacturing costs put corporate supply chains under immense pressure. As a result, supply-chain management and infrastructure plays a significant role in organizational strategy and how a facility chooses to set up their operation. A. Analyze whether a Keiretsu network (Keiretsu: a Japanese term that describes suppliers who become part of a company coalition), a virtual company, a vertical integration, or a different supply chain strategy should be adopted. A virtual company strategy would not work for this type of operation because “vertical integration is counter to the benefits of specialization” (Heizer and Render, 2010). In this model of supply chain, the demands of more specialized products exist and there is more flexibility to waiver from centralized suppliers than Keiretsu or vertical integration offers. Much of This “fluidity” may allow for too much variability within and there is no sustainability as contracts can be short...

Words: 1235 - Pages: 5