Free Essay

Royal Mint

In: Business and Management

Submitted By JunkVH
Words 342
Pages 2
ADM3302 Supply Chain Management
Canadian Circulation Coin Distribution System
Overview of the Royal Canadian Mint








Founded in 1908 in Ottawa
Two types of production o Hand craft coins in Ottawa o Circulation coins in Winnipeg
Business Lines o Canadian circulation (5 cents to 2 dollars, including recycling) o Bullion & Refinery o Numismatics o International customers (Doing money for other countries)
800 million commemorative coins produced and distributed o New technology used on the last coins (Stamp)
Demands in Canadian: 4.5 – 5 billion o This demand is based on the coin orders, but also calculated with an IT structure analysing the market. o Trade and commerce activity is unknown, and invisible for RCM o Over this 4.5-5 billion
 8% comes from RCM production
 11% from recycling
 79% from bank inventory

Canadian Circulation Coin Distribution System (CCCDS)


Supply > Distribute > Authenticate > Enhance >

(Forecasting, Production, Distribution, Recirculation, Verification, Auditing, Consultation,
National Coin Committee.)
Supply






Finding the right balance between Coin demand and Coin supply
5 denomination
23 regional sites, 12 pool sites
10 financial institution
1150 forecast generated every week

Distribution










Every coins are produced at Winnipeg, and then send to one of the 12 pool sites
Why Winnipeg? Maybe because it’s a central place!
Last shortage was in 2005
Higher demand on summer, and when there is big event like Olympics games
Product post 2000 last more longer due to a new concept (Steel in the middle of the coin) Contracts with 3rd party for moving inventory (Secured movements and facilities)
Coin pool site -> Financial institution -> Retailers -> Consumers -> Spend, Recycle or Save
Challenge with recycling: How do we integrate those coins back in the SCM?
ARP: Remove damage coins in circulation and replacing with newly minted coins

Authenticate




Authentication, Verification and Auditing o Provide insights into market activity, estimated volume in circulation o 8 regions sampled per month
Enhance
o Consultation: Metal industries, Financial institution, Casinos, etc.… o National Coin Committee (NCC), establishing guidelines for continuous improvement Summary



No shortage (Fulfill trade and commerce needs)
Be efficient and cost effective operation

Similar Documents

Premium Essay

The Royal Mint

...I. Introduction The Royal Mint has a unique manufacturing operation in the United Kingdom and also designated as an executive agency responsible to the treasury to the “Her Majesty's” Government. Its objective is to provide the government with coinage at a competitive price and its manufacturing requirement ranges from high volumes of standard coinage to individual service medals or commemorative coins. In the case of the Royal Mint, they follow a unique cost ceiling that their cost base must always be less than the face value of the coins being produced. In order to follow that unique cost ceiling, the researchers follow the concept of simultaneous design by being involved in initiatives to improve materials being used in both coins and dies. Then due to high inflation rate, the face value of the coin is exceeding the cost base of the raw material and with the help of using the concept of simultaneous design, the Royal Mint quickly mitigated the risk by changing the composition of the 2 Pound and 1 Pound coins to a steal core with an electroplated copper outer layer and has significantly reduced the unit cost and it added expected lifetime by using a less expensive metal base. II. Background The Royal Mint has a cost ceiling that the cost base of the material must be less than the face value of the coin being produced. In order to follow that unique cost ceiling, the Royal Mint implemented the Concept of Simultaneous Design to research on how to further improve...

Words: 931 - Pages: 4

Free Essay

British Coinage and the Gold Standard

...In Sixteenth-and seventeenth-century, the precious metals - silver was assigned as standard currencies by British government. The value of the coins was reflected by the bullion value that was the radio of the metal content to denomination. However, the England silver coinage were threatened by some unethical individuals and governments’ actions that physically alternated, debased, devalued, or revalued it. (Black, Module 4, Topic 4.4). The manual minted sliver coins at the time were often irregular in size and shape. Besides, after periods of usage, the old sliver coins were naturally worn and torn which normally had thinner edges. The bullion content of these coins became less weight than legal coins. Some unscrupulous speculators took a chance that deliberately minted with short-weight bullion content, or physically clipping or filling little segments of precious metals from the proper coins. The silver chips would be collected and illegally melted by individuals, then smuggled to the foreign countries. “When the debased money was circulating along the legal coins, the latter will tend to be exported, leaving only the inferior money in the circulation.” Gresham described these unethical practices as “bad money drives out good”. (Black, Module 4, Topic 4.4) Because the clipped coins were not liable to the public, it was habitually accepted only for less than their stamped value. On the other hand, people tended to use these suspicious coins to pay taxes. Oppositely, the British...

Words: 803 - Pages: 4

Free Essay

Electrochemistry and Equilibrium

...Application Assignment #3 – Equilibrium and Electrochemistry According to Chemicool chelation is the “formation or presence of bonds between two or more separate binding sites within the same ligand and a single central atom” (chemicool). Chelation therapy is a process in which reduction of toxic effects of metals within the human body take place. The agents often bind to the toxic ions and form structures that are then easily excreted. Most agents are made up of atoms like Sulphur, Nitrogen and Oxygen functioning as ligand atoms. As metals release toxic substances into the human body the need for an agent to try and reduce the toxicity for our well being is necessary. Most of the heavy are toxic such as lead, copper and zinc which accumulate in the human body. The process of chelation causes a chemical reaction involving a shift of equilibrium to remove the metals before the organs get permanently damaged. The shift in equilibrium occurs because when the agent is introduced to the body to try and reduce the effects, with the body being the system it tries to re-establish equilibrium by shifting from left to right. Barium sulphate is usually made by a combination of a solution of the ions and salts of barium and sulphate. Barium being a heavy metal is highly toxic. In colour it is a white solid with a crystal structure. The reason that Barium sulphate salt is used is that the ions of Barium are opaque to x-rays and can absorb the rays much better than other compounds. Without...

Words: 982 - Pages: 4

Premium Essay

Tic Tac Memo

...Rising Competition Breath mints have reached the maturity stage of the product life cycle. This means our company faces more competition than ever. In response to the saturated market, we must decide whether re-branding and redesigning our packaging is a way we would like to attract new consumers to our product, increase consumption and, therefore, increase our market share of the breath mint market. It is important our company understands the risks and benefits of changing our packaging, that has remained the same for over forty years. In addition, we must understand how our consumers will react to a packaging change, as well as how we want to advertise any packaging change we commit to; this will be best done through exploratory research methods. Market Research Ever since our introduction in 1969, the market for breath mints has steadily increased. According to packagedfacts.com, in 2003 sixty two percent of households used breath mints. In 2003, Tic Tac was the preferred choice of breath mints, but since then other mints have increased competition. Lifesavers were on Amazon's top list of best selling breath mints in 2014. One possible solution to become the best selling brand of breath mints is to redesign our packaging. This comes with obvious benefits and risks. First, in our consumer base's decision-making process, recognition is the most important thing. American society cultivates a world obsessed on looking and feeling good, and many people feel the need for...

Words: 464 - Pages: 2

Free Essay

'V' Nickel

...story and a rarity will trump everything else," said Douglas Mudd, curator of the American Numismatic Association Money Museum in Colorado Springs, Colo., which has held the coin for most of the past 10 years. He expects it could bring more than Heritage Auction's estimate, perhaps $4 million and even up to $5 million. "A lot of this is ego," he said of collectors who could bid for it. "I have one of these and nobody else does." The sellers who will split the money equally are four Virginia siblings who never let the coin slip from their hands, even when it was deemed a fake. The nickel made its debut in a most unusual way. It was struck at the Philadelphia mint in late 1912, the final year of its issue, but with the year 1913 cast on its face — the same year the beloved Buffalo Head nickel was introduced. Mudd said a mint worker named Samuel W. Brown is suspected of producing the coin and altering the die to add the bogus date. The coins' existence wasn't known until Brown offered them for sale at the American Numismatic Association Convention in Chicago in 1920, beyond the statute of limitations. The five remained together under various...

Words: 921 - Pages: 4

Free Essay

Some

...ED 292 TEP Presentation TEP Essay Audience * 2 People / Interview team * PhDs / Ed Ds * You don’t know them (maybe) * Determining your future * Experienced Educators For your essay, this knowledge means that * your essay should sound educated, professional * your essay should be concise, to the point * you should know your content * 7 Dispositions * 6 Conceptual Framework commitments * Why you’d be a good teacher * life experiences that demonstrate CF and Ds * P-12 connection, * Your essay should have 3 or fewer grammatical errors Purpose * to prove we know what we want for our future – to be educators * to seek entry into TEP * to fully integrate CF & Ds into lived experience For your essay, this means * You are writing a persuasive essay * 1st Person is required (you can’t talk about yourself as if you are someone else) Thesis * Will emerge from the organization options below Organization * Content * 7 Dispositions * 6 Commitments of the Conceptual Framework * Personal Experience (activities including work, school, church, scouts, sports, family) * Possible Organizations * 5 paragraph theme (3 points) * 3 Content Categories * 3 Dispositions * 3 Conceptual Framework Commitments * 3 Combo (Disp/CF/Pers. Exper.) * 3 Experiences (Best Option) * 1 Experience w/3 Aspects (Best...

Words: 359 - Pages: 2

Premium Essay

Yolanda House Interview

...CSW Sandra Marquez conducted a home interview and home assessment for William Lemus on 3/22/18 at 12:00pm. Yolanda Yoc’s address is 1011 N Mariposa Ave, Los Angeles, 90029. CSW Sandra Marquez was given verbal consent to enter the home. Yolanda Yoc is currently living with her sister, Maura Eriselda Yoc and two roommates. The home consists of four bedroom, two restrooms, living room, kitchen, and a backyard. Yolanda and her son, William sleep together in a room. Yolanda Yoc’s bedroom was clean and had the infants: formulas, bottles, baby cream, and diapers on a night stand. Next to her bedroom is the restroom. The restroom is share between Yolanda Yoc and Maura Eriselda. The restroom appeared to be clean. Yolanda Yoc walked CSW Sandra Marquez to the kitchen. Yolanda Yoc opened the refrigerator and it was heavily stocked with food. CSW Marquez saw the backyard from the kitchen’s window remained indoors because it was raining outside. The interview took place in the living room. The living room appeared clean. CSW Sandra Marquez asked how the child was doing and Yolanda stated, “bien/good”. The William Lemus was sleeping in the room. In regards to visitations she wants William Lemus to have visitations with his father; William D. Lemuszetino Sr. She is willingly to make the child accessible because she wants them to have a relationship. CSW Sandra Marquez explained to Yolanda Yoc the court order monitored visitations for father upon release from custody two times a week for two...

Words: 535 - Pages: 3

Free Essay

Tic Tac Case

...When first thinking about changing the packaging of Tic-Tac breath mints one must ask why? The Tic-Tac package is an icon, recognizable by pretty much everyone across not only the United States but North America, South America, and Europe. Think of the classic Seinfeld episode where Elaine gives her co-worker a package of Tic-Tacs so she can hear when he is sneaking up on her. As a brand you know that you have a top position when one of the most successful television shows of all-time bases an entire episode around your product and packaging. With such strong brand recognition and being so well known across the globe it might seem foolish to change the packaging for Tic-Tac Chill mints. However, it is necessary that certain changes be made to the new package design in order to successfully compete and keep up with today’s breath mint market. Since 1969, when Tic-Tac first came out, the breath mint market has changed drastically. Mints are now typically larger and have much stronger flavors than breath mints from twenty and thirty years ago. Packaging now is also much more flashy and eye-catching than the classic Tic-Tac packaging that has been used since first being started. Since the Chill mints are going to be a more modern breath mint with a larger size than the original Tic-Tac and have a more intense flavor they are going to be competing against breath mints like Ice Breakers and Altoids who both have very distinct and noticeable packaging. To keep up with this...

Words: 985 - Pages: 4

Free Essay

Leadership Style of Ricardo Semler

...1.) What HR problems were evident at the Denver Mint? Hostile Environment  The main HR problem at Denver Mint was the lack of employee safety especially the women group at Denver. The women were facing a hostile work environment. For one they were under constant sexual harassment from their co-workers. For example, the case of the pornographic materials stashed in the toilet. The other example is the proposition by the male supervisor to the lady who had just come from her passing leave of her late husband. It is the responsibility of every employer to make certain the safety of their workers and protecting employees from sexual environment should be one of them. Not only had Denver Mint failed to ensure the safety of its female staff but also made it worse by participating in it. For instance the case of the male supervisor propositioning the female sub-ordinate. His duty is to ensure her safety not endanger it. Longer time to act on complaints  The other HR problem is that it took Denver Mint long to act on complaints forwarded by the staff. For instance the female employee that filed a petition in 2000 with the facility’s EEO officer only had a hearing in 2003. Not only had that the ruling favoured the company. This shows not only lack of speed in acting to complaints but unfair ruling. Another HR problem is The lack of equal employment opportunities (EEO). Denver Mint favoured the male staff and any female staff that filed complaints it took longer to act on it and...

Words: 1071 - Pages: 5

Free Essay

Ubuntu vs Android

...usuarios - considerando que las comunidades pueden ser más predictivo o más vs técnico que representan una mayor adopción en la actualidad. Los resultados se muestran a continuación, clasificados en orden de popularidad Hacker News para que podamos ver distros populares entre las audiencias altamente técnicos más fácilmente. Distros se muestran por orden de Hacker News filas. Hacker datos noticia viene de aquí , los datos de Linux Journal de aquí , y Google Trends es de datos de una búsqueda con sede en. Podemos ver que en términos generales, las tendencias son consistentes a través de audiencias. Existen diferencias menores, así como un par de valores atípicos claros que son mucho más populares entre el público en general (Linux Mint y CentOS). No es ninguna sorpresa para mí que Debian y Ubuntu basado distros están en la parte superior, a pesar de la popularidad de arco más allá de la comunidad de entusiastas me sorprendió. Vamos a bucear en los datos, una distro a la vez: • Ubuntu:. El claro ganador entre todas las comunidades, con casi...

Words: 1221 - Pages: 5

Premium Essay

Budget Apps

...tracking our finances, is which application to choose? In fact, giving an answer for that question might be really difficult. Thousands of those application can be found over the Internet — free or paid, developed for iOS, Android, Symbian, WindowsPhone or Blackberry's operating system. Out of those thousands, without any doubt there are few the best applications, which three of them will be described below. Mint: It can be doubtlessly said that this application is one of the best or even the best. In terms of finance tracking, it beats most apps out of the water with ease. Being completely free and developed for Android as well as for iOS — for phones and tablets — is just one of its advantages. But the other plus of Mint is the way of working. Mint is connected to almost every US banking financial institution with internet banking capability. It automatically put all of financial information in one place so that you are able to get the entire picture. All you need to do it to add all of your accounts — bank, credit card, loan, retirement and more — and the Mint will create your info and group your transactions....

Words: 1143 - Pages: 5

Premium Essay

Penny Research Paper

...pennies. The only reasonable thing to do with pennies is store them in a giant glass jar and then dump them in a Coinstar, a machine that charges you 10% to spend money that you already have. The penny, at this point in time, manages to be both extremely useless and impractical, it is a Congressional gaffe that the penny is still being made. Making the penny is not cost effective, and pennies do not get used anyway. The penny is currently an out of date, economical blunder. As you probably know the penny is worth exactly a hundredth of a US dollar. This is all well and good, except the fact that it takes one and one half a cent more to make a penny. This means every time the U.S. Mint produces one penny it wastes one and a half cents. This may seem insignificant, however, according to the U.S. Mint almost 5 billion pennies were produced in 2011 alone. That is 50 million dollars in pennies, at a cost of 7.5 billion dollars, so in just 2011 taxpayers lost 7.5 billion dollars just to make pennies. In the scope of government this may not be a lot of money, but when every dollar is money straight from your taxpaying pocket, 7.5 billion dollars in a year is an inexplicable amount of money. Some misled proponents of the penny believe that the cost is irrelevant since the penny is tradition. “How can we get rid of a minted coin?” they may...

Words: 863 - Pages: 4

Premium Essay

Marines

...MBA 623 United States Marine Corps The organization we chose for our project is the United States Marine Corps. We believe this branch of service can benefit greatly with the help of organizational behavior concepts. We will mainly be focusing on the relationship between the recruiter and the poolee (person soon to be enlisting). The process of enlisting can be long and tedious and there are a lot of details that should not be overlooked. When a civilian enters the recruiter’s office and they both meet for the first time, it is one of the most important moments. This is where the civilian feels out the recruiter and the recruiter feels out the civilian and shapes the psychological contract. When the psychological contract is beginning to form in this case it is important for both parties to gain each other’s trust in order for the relationship to flourish. Most recruiters are very truthful and will not violate the contract, but a lot of the recruiters just want to get that extra number to ship out. The recruiter will say and offer things to the poolees that are false and misleading. This process can also work the other way also; the poolee could be lying to the recruiter and mislead him as well. Some other problems that exist are cultural issues, such as, language and non-verbal gestures. It is important for both parties to be relaxed and ask questions. During the initial interview and throughout the process it is important for both parties to utilize active listening...

Words: 1835 - Pages: 8

Free Essay

Public Service

...Types of Expedition Assignment 1 Our public services and the general public undertake a wide variety of expeditions for a wide variety of reasons. Now you have watched videos of two different types of expedition discuss these expeditions in your groups, compile your opinions and explain them, on the following points. Expedition 1 Name of the expedition: Royal Marines polar quest. * Royal Marine’s polar quest. This expedition is a great example of team effort within a military expedition. The Royal Marines and Navy planned and achieved a 2600Km ski and kiting trek to the South Pole and also a return journey; this took place in November of 2006. The services planned this expedition to break the following records, to be the first public service to reach the South Pole since Captain Robert Scott 1912. Also to be the first British military expedition that includes a return journey to the South Pole and to be the first. Marines to achieve their goals unaided by any other personnel; the military explorers successfully completed the expedition by January 2007 making it the longest in the distance of 2600Km British expedition on record. * The Area of the expedition (location; is it local, regional, national or international) The area off the expedition was in the South Pole. This would be international. * Aims of the expedition (Team building, military, science, exploration, personal development, competition, educational or commercial). The aim off the expedition...

Words: 681 - Pages: 3

Premium Essay

Case Study

..."Never Let a Quiet Watch at Sea Lull You into a False Sense of Security" A little background on what it means to exercise command at sea: "Only a seaman realizes to what great extent an entire ship reflects the personality and ability of one individual, her Commanding Officer. To a landsman, this is not understandable, and sometimes it is even difficult for us to comprehend--but it is so! A ship is a different world in herself, and in consideration of the protracted and distant operations of the fleet units, the Navy must place great power, responsibility and trust in the hands of those leaders chosen for command. In each ship there is one man who, in the hour of emergency or peril at sea, can turn to no other man. There is one who alone is ultimately responsible for the safe navigation, engineering performance, accurate gunfiring, and morale of his ship. He is the Commanding Officer. He is the ship! This is the most difficult and demanding assignment in the Navy. There is not an instant during his tour as Commanding Officer that he can escape the grasp of command responsibility. This is a duty which most richly deserves the highest time-honored title of the seafaring world--'CAPTAIN.'" Captain Joseph Conrad Our Case Study: The weather would be turning bad overnight, but late on a sunny afternoon in gentle seas, the Commanding Officer (the CO) had a fresh cup of coffee in hand and enjoyed what little was left of the day in his designated chair on the bridge. It was an...

Words: 689 - Pages: 3