...Melanie Vijarro BMGT 4345 Case #4 Page 847 #1,2,3 & 5 #1 Draw a diagram of OSP’s cash flow cycle. Explain the cash flow difficulties described by Josh Frey and Dave Burnett (refer to the Case-in-Case). Why did Frey’s strategy of more sales fail to improve OSP’s cash flow? [pic] The cash difficulties described between Josh Frey and Dave Burnett stated that if you have accounts payable due $3,000,000 and your accounts receivable is $5,000,000 but not for 30 days you have some big problems. Frey’s strategy failed for more sales to try to improve OSP’s cash flow is because of the reason stated previously. If you keep selling, which is a good thing but you do not request a percentage down from your customer you will be in the hole due to insufficient funds on hand to order the merchandise you need to fulfill your sales order that you have taken as well as payroll and other company related costs. This alone can bring a company down and keep it from ever being successful. #2 Discuss OSP’s “replicable sales process.” Why is this issue so important to OSP’s success? OSP’s replicable sales process is based upon how he runs his business. As he stated, “when OSP did accrue more cash, it was plowed into growth.” He knows how to sale and he has a good staff that he has trained very successfully. His theory is that there is an equation to sales, first phone calls, then emails and meetings leads to prospects then to sales. He is known for having such a replicable...
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...Problem Set: Introduction to Operations Management (IOM OS) IOM1 Differences between Goods and Services [20 pts] Explain differences between goods and services in terms of: * Customer contact for goods is low because a customer buying goods will never come in contact where the goods are being produced. Versus for services its high because the customer is usually present during the formation of the service. * Opportunity to correct problems for goods is high because they may be exchanged or tailored versus for a service low because you can’t reconstruct a service that has already been performed. * Variability of input is low because you can always fix or change the goods being produced and output is high because you can’t change the finished product. * Measurement of productivity for goods is simple because you can count the amount of finished goods and inventory, and for services difficult because you can’t keep track of all the services being given. * Evaluation of employees for goods is easy as you can monitor the outcome but for services it is difficult because you can’t supervise all services performed. IOM2 Customization [10 pts] Discuss the impact of higher customization on complexity of manufacturing or service processes, level of worker skills, and productivity. The impact of higher customization compared to standardized products and services is that it is more labor-intensive, and more time-consuming resulting in a slower workflow. In...
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...Chapter 4 Product and service design It is the major factor in - Cost - Customer satisfaction - Quality - Competitive advantage - Time-to-market Objectives of Product and Service Design Main focus - Customer satisfaction - Understand what the customer wants Secondary focus - Function of product/service - Appearance - Cost/profit - Ease of production/assembly - Quality - Ease of maintenance/service Product or Service Design Activities 1. Translate customer wants and needs into product and service requirements 2. Refine existing products and services 3. Develop new products and services 4. Formulate quality goals 5. Formulate cost targets 6. Construct and test prototypes 7. Document specifications Reasons Design or Re-Design : The driving forces for product and service design or redesign are market opportunities or threats: - Economic - Competitive - Social and Demographic - Cost or Availability - Political, Liability, or Legal - Technological Regulations and Legal Considerations Product Liability : A manufacturer is liable for any injuries or damages caused by a faulty product. Uniform Commercial Code : Products carry an implication of merchantability and fitness. Designers Adhere to Guidelines - Produce designs that are consistent with the goals of the company - Give customers the value they expect - Make health and safety a primary concern - Consider potential harm to the environment Other...
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...Don’t Let Your Supply Chain Control Your Business Manufacturers are delegating too much power to top-tier suppliers, undermining their own ability to innovate, cut costs, and manage risk. by Thomas Choi and Tom Linton 112 Harvard Business Review December 2011 1430 Dec11 Choi Layout [S];30.indd 112 10/26/11 10:54 AM hbr.org Illustration: brett Ryder I n the past 25 years, major originalequipment manufacturers around the world have shifted to the Japanese tiered approach to supply chains. They’ve radically reduced the number of suppliers that they directly manage and off-loaded responsibility for supervising the rest, along with the task of building major subsystems, to a handful of firsttier suppliers. The attractions for OEMs were faster new-product introductions, larger volume discounts, reductions in the capital and risks associated with developing and producing the subsystems, and the ability to spend less management time on overseeing the multitude of lower-tier suppliers and more on building core competencies. But we believe that the delegation has gone too far. Our conclusion is based on studies of the practices at some 20 leading multinational corporations that one of us (Thomas Choi) conducted and the longtime experience that the other (Tom Linton) has had as a purchasing executive at such companies as LG Electronics (LGE), Agere Systems, Free scale Semiconductor, and IBM. We discovered that a heavy reliance on first-tier...
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...[pic] Business plan: “CoffeeDrive” Course: Introduction to Operations Management Instructor: Yevgeniya Kim Bizhanova Korkem 20120882 Kokbayeva Aliya 20120410 Murzakhmetova Yuliya 20123246 Tursunova Aida 20121424 2014 Business Description The company is named ”Coffee Drive”. The main conception of this business is providing service to the place that is convenient for the clients. The type of operation of the business is food service. It is well known fact that Kazakhstan is developing country, that is why this type of business is an unexpended whereas in Europe coffee machines business. For establishing the business firstly, we have to register SP (Sole Trader). The main aim of this work is moving from one point of the city to another. These points are places with big pass ability such as business offices, parks, universities, malls, and hospitals. The next step is to get permission from administration of these companies where we are going to implement our service. The main aim of the business is to sell the products to people who have limited time for lunch. As we mentioned this business is new, we need to promote it through the partnership with centre of cellular communication (Activ or Kcell etc) by sms distribution with information about schedule of our location. This type of business has both strengths and weaknesses. We can face such problems as disability to make an agreement with some companies and this fact will...
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...Operations Management Paper An operations manager is someone who watches over the day to day process of a business and has a certain role in that business. In this paper I will define what the role of an operations manager would be in a company. I also want to talk about how the use of a project manager is useful in a business. I will also state some jobs that an OM should be doing in order to be successful. I also want to talk about how and what a manager is. They are first and foremost a leader. We will explore what a leader is and how they are good at their job and the tools that they need in order to be successful at their job. When we look at a business what do we see? We see roles that are clearly defined. So let’s look at job where we see those roles and how an OM would be someone who can manage these people. What is the main purpose of an operations manager? They are someone who enforces and upholds the management process and that consists of planning, organizing, staffing, leading, and controlling. (Heizer and Render. Pg 7). We will talk about this in further detail and I will explain how I do this in a company. The job of a manager is not just his duties and his roles within the company but it is his responsibility to be a good leader and there is a lot more to it than just giving orders and good leader is someone who inspires others to follow. What is a manager’s responsibility? Well they need to be able to accomplish certain tasks through their...
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...Production and Operations Management Introduction Improving the operations of a company that will enhance productivity and product quality may not only certainly benefit a company’s bottom line, but can also benefit national interests. Marathon Oil, for example, is the United States’ “fifth largest transportation fuel refining company and the largest in the Midwest” (“Corporate Profile”). This Findlay, Ohio based company’s operations “include a six-plant refining network, a comprehensive terminal and transportation system, and extensive wholesale and retail marketing operations” (“Corporate Profile”). Marathon’s six refineries have a total refining capacity of 1.142 billion barrels per day and provide the United States with approximately seven percent of its total capacity (“About MPC”). Marathon sells 4.1 billion gallons of gasoline each year that are then distributed to over five thousand independently owned and operated Marathon locations (“About MPC”). Marathon owns Speedway, the fourth largest convenience store chain in the U.S. Speedway not only sells gasoline but also sells food and beverages and a variety of other products in one of its 1350 locations scattered throughout the Midwest (“About MPC ”). To be sure, examining Marathon’s overall product process and identifying those phases which might be improved could result in more efficient refining and distribution of the United States’ life blood: transportation fuels. Efficiency improvements to Marathon’s...
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...Acknowledgement All the praises for ALLHA Who is most Gracious, beneficent and beloved. It is only ALLHA who gives us knowledge and wisdom to do this task. All respects for Hazrat Muhammad (SAW) Who gives us the recognition our Creator and also leads us to recognize the aim of our creation. We are thankful to the comsats Institute of information technology Lahore for providing us a plat form and base to polish our skills and knowledge through practical experience. We also want to avail this opportunity to express our heart full gratitude and appreciation towards our respected teacher Mr sardar zahid for his interning effort to instill in us spirit of curiosity to gain a firsthand knowledge of the often challenging business word and challenging a business executives often has to come across and how to negotiate and counter such testing time. Executive summery This report provides a brief overview for business person who is interested to making a flour company in market of Lodhran. This report covers all the faces of product development. We have tried our level best to high light all possible factors of a business for example cost benefits, sales, revenue, profit, resources, economic implication, and its future expectation in Pakistan. Some future plans are also discuss briefly under the assumption of smooth flow of economy with political stability. Mission Promote the salt lamps field Objectives • Environment...
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...Running Head: OPERATIONS MANAGEMENT Operations Management MMBPL502 Patricia Schroeder January 23, 2012 Introduction Kathy Kudler, the Founder of Kudler Fine Foods, has decided to expand her business by contracting with local growers of organic produce. Kathy has requested that I report what steps need to be taken and what operational changes will be necessary if Kudler decides to pursue this business path. The report should identify those business processes at Kudler that could be affected by this decision and explain how they would be affected. It should describe how Kudler’s supply chain would be affected by this decision and finally, it should describe the quality control tools and performance standards that Kudler would need to put in place to ensure the effectiveness of its operations. Business Process It is useful to categorize processes to describe how a process is designed. By being able to quickly categorize a process, we can show the similarities and differences between processes. Make-to-order – this process is activated only in response to an actual order. Inventory (both work-in-process and finished goods) is kept to a minimum. Make-to-stock – this is a highly efficient process that produces standard products that can be delivered quickly to the customer. Hybrid – this process combines the features of both make-to-order and make-to-stock (Chase, Jacobs, Aquilano, 2005). Inventory Control Each of Kudler’s individual...
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...Algebra 1: Simplifying Algebraic Expressions Lesson Plan for week 2 Age/Grade level: 9th grade Algebra 1 # of students: 26 Subject: Algebra Major content: Algebraic Expressions Lesson Length: 2 periods of 45 min. each Unit Title: Simplifying Algebraic Expressions using addition, subtraction, multiplication, and division of terms. Lesson #: Algebra1, Week 2 Context This lesson is an introduction to Algebra and its basic concepts. It introduces the familiar arithmetic operators of addition, subtraction, multiplication, and division in the formal context of Algebra. This lesson includes the simplification of monomial and polynomial expressions using the arithmetic operators. Because the computational methods of variable quantities follows from the computational methods of numeric quantities, then it should follow from an understanding of basic mathematical terminology including the arithmetic operators, fractions, radicals, exponents, absolute value, etc., which will be practiced extensively prior to this lesson. Objectives • Students will be able to identify basic algebraic concepts including: terms, expressions, monomial, polynomial, variable, evaluate, factor, product, quotient, etc. • Students will be able to simplify algebraic expressions using the four arithmetic operators. • Students will be able to construct and simplify algebraic expressions from given parameters. • Students will be able to evaluate algebraic expressions. • Students...
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...Constructing Formulas for Mathematical Operations in Excel (Basic Tips and Techniques) Michelle A. Applequist Computer Information Systems (CIS105) Professor Hari Dhungana Strayer University September 1, 2009 Constructing Formulas for Mathematical Operations in Excel Microsoft Excel uses formulas to construct mathematical operations in a worksheet. After data have been entered into the worksheet, you can perform calculations, analyze data, and create charts. An Excel formula (calculations you create) and functions (formulas pre-existing in Excel) calculates the data entered in the worksheet. Formulas calculate numbers in a particular order. “Excel has one of the most comprehensive set of formulas, not only to perform calculations but also to manage data and records. It also has the ability to instantaneously re-calculate the results as the raw data changes” (Khoo, 2006-9, para. 2). To construct a formula after you have entered data, you must click in the cell that you want the results to appear in, and then type the formula. You can construct formulas by using the sum function, and editing numbers in a cell. It is stated that: Sum is an Excel function—a prewritten formula. Sum indicates the type of calculation that will take place (addition). When the sum function is activated, Excel looks above the active cell for a range of cells to sum. If there is no range above the cell, Excel will look to the left for a range of cells to...
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...Mathematical Operations of Numbers and Simplifying Algebraic Expressions Section A.: Mathematical Operations of Numbers 1.) 8+((12+5) x 4)/2= 8+(17x4)/2= 8+68/2= 8+34= 42 2.) ((3+4)²+4)-2= (7²+4)-2= (49+4)-2= 53-2= 51 3.) ((12+7)+(8/4)²) (19)+(2)² 19+4 23 4.) ½ + ¼ - ⅓= 6/12+3/12-4/12= 9/12-4/12= 5/12 5.) 2/3 x 3/5 = Multiply straight across 2/3 x 3/5 = 6/15 Find common denominator Reduce to lowest term 6/15 ÷ 3/3 = 2/5 6.) ⅓ ÷ ½ = Multiply by reciprocal ⅓ x 2/1= 2/3 7.) 3/2 ÷ ( 1/5 + 6/10) = 3/2 ÷ (2/10 + 6/10) = 3/2 ÷ 8/10 = Multiply by reciprocal 3/2 x 10/8 = 30/16 = 15/8 = 1 7/8 Section B.: Simplifying Algebraic Expressions 1.) 2x + 3x - 5x + x = 5x - 5x + x = 0 + x = x 2.) 2(6x + 5) = 2(6x) + (2x5) = 12x + 10 = 3.) (14x - 7) /7 = 14x - 7 ÷ 7 = 14x ÷ 7 = 2x -7 ÷ 7 = -1 2x - 1 4.) -(-15x) - 3x = 15x - 3x = 12x 5.) 5(3x+4) - 4 = 15x + 20 - 4 = 15x + 16 = 6.) 5(3x-2)+12x = 15x -10+12x = 27x - 10 = 7.) 4(2y-6)+3(5y+10) = 8y-24+15y+30 = 23y-24+30 = 23y+6= 8.) (x+1) (x-2) = Multiply the first 2, outside 2, inside 2, last 2 xx - 2x + 1x - 2 = xx - 2x + x - 2...
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...This week’s material is pretty easy to learn. My learning strategy stayed the same from last week; read the reading material, look at the optional video lectures, answer the discussion question, program the programming assignment, take the self-quiz, etc. … I appreciate learning about the for … each loop. I’m plenty familiar with the for loop, which iterates for a set number of loops, uses initialization, a continue condition, and updating at the top of its block; but, the for … each control structure is a alternative to for. The for .. each loop control structure does not have as complicated continue conditions, and iterates the length of the data structure. I want to master the for .. each loop because it processes a data structure better then the for loop. I interacted with people in the discussion forum. This week’s question asked students to detail the for , and for … each control structure, and include the enum data structure in the explanation. I posted a discussion post, complete with programming examples of each data structure, but there are not enough other student responses to assess. I’ll keep looking for other students to post their discussion assignment, as I need to assess three student discussion posts. This week, I feel it will be helpful to master the for .. each, while, and do … while control structures. Often, I use the for loop, and select case / switch, but the other loops escape my programming toolbox. This week, I learned how to program with while...
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...Introduction: The case study on Nine West Retail Stores presents the typical story of a firm that has achieved tremendous growth over a short period of time and now stands at a cross roads. The industry it has traditionally been operating in, i.e. the foot wear industry has been stagnating over the past few years and in a bid to move to the next level, NWRS has to expand its core business through diversifying into unchartered territory and portfolios while trying to balance its existing structures, processes and heritage intact. At the same time, the firm also needs to analyze the existing footwear industry as the annextures attached with the case reveal an interesting trend which might require NWRS to reposition some of its brands to improve its profitability. In our analysis, we will start of by outlining the main facts about Nine West Retail Stores and then move on to focus on the three core problems it faces and the proposed solution that we as a group feel can help NWRS move on to brighter pastures. Summary of Facts/NWRS current Structure: Company Background: Named for its early office location at 9 West 57th Street in New York City, the Nine West Group, Inc. started in 1977 as a manufacturer and wholesaler of women’s footwear, and by 1998 had expanded to include fashion footwear and accessories for fourteen brands, including Nine West and Easy Spirit. Nine West saw significant growth since its conception, reaching sales of $1.6 billion in 1996, which was achieved...
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...Aaron Sura June 2, 2014 Wiley plus exercise Question 1. (a). $181,500 (b). $41,200 (c). 38,000 (d). 19,200 (e). 9,500 (f). 63,400 Question 3. In its first month of operation, Maze Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 150 units for $8. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. The company uses the periodic method. FIFO: $1,410 150 units multiplied by $8 equals $1,200 30 units multiplied by $7 equals $210 $1,200 plus $210 equals $1,410 LIFO: $1,160 100 units multiplied by $6 equals $600 80 units multiplied by $7 equals $560 $600 plus $560 equals to $1,160 Therefore, the phantom profit would be $250 if the company were to use the FIFO rather than LIFO. Question 4. Compute the lower of cost or market valuation for O'Connor's inventory. 12,500(camera)+9,000(camcorders)+12,800(DVD’s)= $34,300 Question 5. Establishment of responsibilities: Only cashiers may operate registers. Segregation of duties: The duties of receiving cash, recording cash, and having custody of cash are assigned to different individuals. Independent and internal verifications: Daily cash counts are made by cashier department supervisors. Human resource control: All cashiers are bonded Physical controls: All over-the-counter receipts are registers. Question 6. Segregation of duties: 3 Establishment of responsibilities:...
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