...CSE – Efficiency in Proper Logistics Management Training Exercise Set Module 1: Logistics Individual Activity 1 Enumerate at least top 5 suppliers of your company where you get your supplies and another 5 customers where you render your services or deliver your services. Rate your suppliers and customers from 1 – 5 , 5 being the highest and 1 as the lowest for being efficient ( offering lower cost ) in terms of their delivery charge and expenses you incurrred in rendering or delivering your services. Note : if you answers 5, it means that it is efficient in terms of doing logistics LIST OF TOP CUSTOMERS 5 4 3 2 1 1 5 4 3 2 1 2 5 4 3 2 1 3 5 4 3 2 1 4 5 4 3 2 1 5 5 4 3 2 1 5 4 3 2 1 1 5 4 3 2 1 2 5 4 3 2 1 3 5 4 3 2 1 4 5 4 3 2 1 5 5 4 3 2 1 LIST OF TOP SUPPLIERS Group Activity 1 Per group, discuss among yourselves the top five problems you encounter with your current suppliers and another top five problems with your customers in terms of logistics. Share with your groupmates what particular problems requires outmost attention and solution: For group, write your combined top five problems for customers and suppliers and present it in the class: For your company, Write here the top five (5) problems with your customer Facilitated by: Mr. Caesar Apolinar...
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...T.C. BİLİM, SANAYİ ve TEKNOLOJİ BAKANLIĞI VERİMLİLİK GENEL MÜDÜRLÜĞÜ Türkiye’nin Verimlilik Merkezi Yayın No: 716 Verimlilik ve Kalite Yönetimi: Modüler Program CİLT 2 Editörler Joseph PROKOPENKO ve Klaus NORTH Uluslararası Çalışma Örgütü Cenevre Asya Verimlilik Örgütü Tokyo Telif Hakkı Uluslararası Çalışma Örgütüne aittir, 1996 İlk baskı 1996 İkinci baskı 1997 Bu Modüler Program ILO/APO ortak yayınıdır. Türkçe Çeviri Telif Hakkı © 2011 Verimlilik Genel Müdürlüğü Gerekli izin alınarak çevrilmiş ve çoğaltılmıştır. Takım Numarası: 978 - 975 - 440 - 376 - 3 ISBN: 978 - 975 - 440 - 378 - 7 (2. Cilt) Birleşmiş Milletler uygulamasıyla uyumlu ILO ve APO yayınlarında kullanılan isimler, ve bunların içinde yer alan materyallerin sunumu, herhangi bir ülkenin, alanın ya da bölgenin veya makamlarının hukuki statüsüyle ilgili olarak veya sınırlarının çizilmesiyle ilgili olarak Uluslararası Çalışma Örgütü ve Asya Verimlilik Örgütü adına herhangi bir fikrin ifadesini ima etmez. Çalışmalarda ve diğer katkılarda ifade edilen fikirlerin sorumluluğu, sadece yazarlarına aittir ve yayınlanması, bunların içinde ifade edilen fikirlerin Uluslararası Çalışma Örgütü ve Asya Verimlilik Örgütü tarafından onaylandığını göstermez. Firmaların adlarına ve ticari ürünlerle işlemlere yapılan atıflar, Uluslararası Çalışma Örgütü ve Asya Verimlilik Örgütü tarafından onaylandıklarını ima etmez, ve belirli bir firmanın, ticari ürünün ya da işlemin belirtilmemesi, herhangi bir onaylamama işareti değildir...
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...THE ROLE OF SUPPLY CHAIN MANAGEMEMT ON OPERATIONAL EFFICIENCY: A CASE STUDY OF NEW VISION PRINTING AND PUBLISHING COMPANY LIMITED BY AMUNYO DENIS 11/U/13994/PLE/PE A RESEARCH REPORT SUBMITTED TO SCHOOL OF MANAGEMENT AND ENTREPRENUERSHIP IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR DEGREE IN PROCUREMENT AND LOGISTICS MANAGEMENT OF KYAMBOGO UNIVERSITY SEPTEMBER 29TH 2014 * * DECLARATION; I Amunyo Denis sincerely declare that this report is authentic and an original work of my hands, initiative and brain and has never been presented to any institution/university for the award of certificate or diploma or bachelor’s degree or any other qualification. Therefore it’s valid and my personal working. Students Name………………………………………………………………………………….. Signature………………………………………………………………………………………… Date……………………………………………………………………………………………… * APPROVAL; I do certify that this was under my supervision and recommend it for submission. Research supervisor…………………………………………… Signature……………………………………………………… Date…………………………………………………………… * DEDICATION; This document is importantly presented in appreciation of my family’s effort in upbringing me right from the time I was born with a blank brain to this very moment when I can declare that I too have become a person of substance, to my elder brother Mr.Odeke Ivan who has all along taken my parents place mostly as my shield, my maternal relatives for the support they endeavored to offer me both...
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...The Role of Transport Management Systems in Logistical Efficiency Name: William Date: 19/11/2013 The Role of Transport Management Systems in Logistical Efficiency Over the years the importance of logistical operations has grown to cover virtually all operations associated with supply chain management for any typical organization. In addition, the use of information and communication (ICT) systems is quickly gaining popularity with any organization which aims at improving its productivity and service delivery. Consequently, logistical functions and specifically transportation management systems (TMSs) are consistently under strain to demonstrate significant contribution towards accomplishment of organizational objectives (Vanselous, 2013). Furthermore, with the current digitization of organizational operations, TMSs as well as corresponding logistical systems are quickly becoming the norm for organizational logistical efficiency. In this regard, in order to thoroughly understand the role of TMSs it is imperative to conduct further investigations on their impact on overall logistical efficiency. In order to understand the role of transportation management systems, first, it is important to understand the difference between logistical efficiency and logistical effectiveness. According to Fugate, Mentzer and Stank (2010), logistical efficiency refers to organizational processes that involve the actual movement of products and services from one location to another within...
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...1.0 INTRODUCTION Payroll consists of the process by which a business pays its employees for work performed during a specific period. A payroll system allows businesses to follow a set series of processes in order to make timely, correct payments in compliance with government regulations. A payroll system may be manual or computerized and handled in-house or outsourced to another provider. 2.1 OBJECTIVES A payroll system should be geared toward paying employees what they earn within a reasonable time frame and accurately tracking paycheck amounts as well as tax and benefit withholdings. Payroll systems should be thorough without being overly complex and cumbersome, and they should be designed thoughtfully enough to work well with a minimum of oversight. Having a well-designed payroll system is in the best interest of employees, business owners and human resources staff. 2.2 Scope And Limitation Accuracy Accuracy is an important objective of a payroll system, because employees are entitled to be fairly compensated for the work they have done, and a company's financial well-being depends on not overpaying employees for the time they have worked. In addition, businesses are liable for payroll taxes on employee earnings as well as remitting payroll taxes that have been withheld from employee paychecks. Consistency A payroll system has many components, and the information in each section should be internally consistent. An employee's weekly wages over the...
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...1.0 INTRODUCTION Payroll consists of the process by which a business pays its employees for work performed during a specific period. A payroll system allows businesses to follow a set series of processes in order to make timely, correct payments in compliance with government regulations. A payroll system may be manual or computerized and handled in-house or outsourced to another provider. 2.1 OBJECTIVES A payroll system should be geared toward paying employees what they earn within a reasonable time frame and accurately tracking paycheck amounts as well as tax and benefit withholdings. Payroll systems should be thorough without being overly complex and cumbersome, and they should be designed thoughtfully enough to work well with a minimum of oversight. Having a well-designed payroll system is in the best interest of employees, business owners and human resources staff. 2.2 Scope And Limitation Accuracy Accuracy is an important objective of a payroll system, because employees are entitled to be fairly compensated for the work they have done, and a company's financial well-being depends on not overpaying employees for the time they have worked. In addition, businesses are liable for payroll taxes on employee earnings as well as remitting payroll taxes that have been withheld from employee paychecks. Consistency A payroll system has many components, and the information in each section should be internally consistent. An employee's weekly wages over the...
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...illustrated by how the societal push towards a more environmentally aware culture forced new regulations and standards such as ISO 14001 (International Organization For Standards, 2010) to be established to reflect this perceptional change, which in turn indirectly created compulsory costs for a company pertaining to the promotion of environmental sustainability. Companies are now obligated to offset their pollution levels and any harmful bearings their corporate activities cause to the environment, as well as allocating some of their resources towards environmentally conscious activities such as recycling and waste management systems. Additionally, they must produce environmental reports disclosing all this information, creating further costs (Langfield-Smith et al. 2009). All these factors subsequently resulted in the development of Environmental Management Information Software/Systems, which are...
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...Upjohn Institute Press Book Chapters Upjohn Research home page 2005 Human Resource Management and Safety: Technical Efficiency and Economic Incentives Richard J. Butler Brigham Young University Yong-Seung Park Kyung Hee University Citation Butler, Richard J., and Yong-Seung Park. 2005. "Human Resource Management and Safety: Technical Efficiency and Economic Incentives." In Safety Practices, Firm Culture, and Workplace Injuries. Kalamazoo, MI: W.E. Upjohn Institute for Employment Research, pp. 1-12. http://research.upjohn.org/up_bookchapters/33 This title is brought to you by the Upjohn Institute. For more information, please contact ir@upjohn.org. 1 Human Resource Management and Safety Technical Efficiency and Economic Incentives More U.S. workers die each year on the job than were killed in the U.S. military cumulatively from 1998 through November 2004, even after including self-inflicted and accidental military deaths (DIOR 2005). In 2001, there were 8,786 job-related fatal injuries (5,900 not counting the fatalities caused by the terrorist attacks of September 11), or about 3.7 fatal injuries per 100,000 workers. Workers made 2.1 million trips to the emergency room for injuries sustained from accidents at work (Centers for Disease Control and Prevention 2004). Workers’ compensation insurance, which covers all medical expenses and part of lost wages associated with injuries, cost employers $63.9 billion in 2001 (Williams, Reno, and Burton 2003). The...
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...How Europeans View Americans: Whether or not I agree with the author is based on my beliefs and experience with different economic factors. Although this article is opinionated of how the author shares different experiences from different Europeans frames (points of view) of the American society, we should all note that this is not the consensus for all Europeans. In reference to the matters that persuaded the United States to utilized their military might (September 11 2001), are only the actions of the current administered, which resulted in a ripple effect that cast judgment on all the American population. Although determined, the Bush administration left their allies on the sideline; where they felt obligated to respond and defend the homeland, which clearly displayed one difference in the U.S. and European view of security. In the summer of 2002 in an article Policy Review by Robert Kagan, he stated, “ It is time to stop pretending that Europeans and Americans share a common view of the world, or even that they occupy the same world” (Gordon, P. H, 2003). Cultures and generations have enforced and reinforced the values and belief systems that either population (American and European) have passed down from generation to generation to their children. Although Robert Kagan shared his views in the article, it is safe to say his perceived structure is not destiny, but should not be ignored. (Gordon, P.H. 2003). Apart from many other differences, which differentiate the...
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...tle read: ... INDIAN INSTITUTE OF MANAGEMENT BANGALORE Manzana Insurance:Fruitvale Branch Submitted to Prof. Devanath Tirupati Indian Institute of Management Bangalore By: Group Number 6 Vikash Oraon 0911283 Abhijit Pagare 1011076 Bharathi Priya 1011087 Bhargavi Konathala 1011089 Bhavika Kansara 1011090 Vishal Kumar 1011143 Manzana Insurance Introduction Manzana Insurance was started in 1902, and by 1953 had become the second-largest home and commercial property insurer in California. However, since the 1970's Manzana has been facing troubles from intense competition from the Golden Gate Casualty, as well as problems from an inefficient operating procedure leading to late issuance of policies, customer dissatisfaction, and defection of agents to other firms. Situational Analysis Recent complaints from agents about the turnaround time, percentage late figure and the poorly performing renewal business iterate the below average performance of the Fruitvale branch of Manzana. The following points were presented in the case. ? Around 76 independent agents represent Manzana at Fruitvale and dealt directly with the public. There was a difference in the commissions each agent received according to the policy request. ? Exhibit 1 gives an overview of the Operations flow across the four tasks that are performed for every policy request. O A RUN goes through all the four stages [Distribution, Underwriting, Rating and Writing] while a RAP and RERUN bypass the select and classify sub-stages...
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...available information. The semi-strong form of the EMH claims both that prices reflect all publicly available information and that prices instantly change to reflect new public information. The strong form of the EMH additionally claims that prices instantly reflect even hidden or "insider" information. Critics have blamed the belief in rational markets for much of the late-2000s financial crisis.[1][2][3] In response, proponents of the hypothesis have stated that market efficiency does not mean having no uncertainty about the future, that market efficiency is a simplification of the world which may not always hold true, and that the market is practically efficient for investment purposes for most individuals.[4] In political science and economics, the principal–agent problem or agency dilemma concerns the difficulties in motivating one party (the "agent"), to act in the best interests of another (the "principal") rather than in his own interests. Common examples of this relationship include corporate management (agent) and shareholders (principal), or politicians (agent) and voters (principal).[1] For another example, consider a dental patient (the principal) wondering whether his dentist (the agent) is recommending expensive treatment because it is truly necessary for the patient's dental health, or because it...
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...Equilibrium in Solid Bodies". His later interest in equilibrium analysis in economics[->3] and sociology[->4] can be traced back to this paper. From Civil engineer to liberal, and then to economist[edit[->5]] For some years after graduation, he worked as a civil engineer[->6], first for the state-owned Italian Railway Company and later in private industry. He was manager of the Iron Works of San Giovanni Valdarno and later general manager of Italian Iron Works.[3] He did not begin serious work in economics until his mid-forties. He started his career a fiery liberal[->7], besting the most ardent British liberals with his attacks on any form of government intervention in the free market[->8]. In 1886 he became a lecturer on economics and management[->9] at the University of Florence[->10]. His stay in Florence[->11] was marked by political activity, much of it fueled by his own frustrations with government regulators. In 1889, after the death of his parents, Pareto changed his lifestyle, quitting his job and marrying a Russian, Alessandrina Bakunin. She left him in 1902 for a young servant....
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...others. • Econometric estimation techniques should allow for the fact that deviations of observed choices from optimal ones are due to two factors: failure to optimize i.e., inefficiency due to random shocks • Stochastic Frontier Analysis or SFA is one such technique to model producer behavior. 2 USEFULNESS OF SFA • SFA produces efficiency estimates or efficiency scores of individual producers. Thus one can identify those who need intervention and corrective measures. Since efficiency scores vary across producers, they can be related to producer characteristics like size, ownership, location, etc. Thus one can identify source of inefficiency. SFA provides a powerful tool for examining effects of intervention. For example, has efficiency of the banks changed after deregulation? Has this change varied across ownership groups? • • 3 STRUCTURE OF THIS PRESENTATION • Part 1: Theory: Illustrate the basics of SFA mainly with analysis of cost efficiency. Concept of efficiency Estimation Identification of sources of inefficiency • Part 2: Empirics: How to use FRONTIER program to estimate different types of efficiency models An application of SFA to Indian Banking (if time permits) •...
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...list of Frequently Used Symbols and Notation A text such as Intermediate Financial Theory is, by nature, relatively notation intensive. We have adopted a strategy to minimize the notational burden within each individual chapter at the cost of being, at times, inconsistent in our use of symbols across chapters. We list here a set of symbols regularly used with their specific meaning. At times, however, we have found it more practical to use some of the listed symbols to represent a different concept. In other instances, clarity required making the symbolic representation more precise (e.g., by being more specific as to the time dimension of an interest rate). Roman Alphabet a Amount invested in the risky asset; in Chapter 14, fraction of wealth invested in the risky asset or portfolio AT Transpose of the matrix (or vector)A c Consumption; in Chapter 14 only, consumption is represented by C, while c represents ln C ck Consumption of agent k in state of nature θ θ CE Certainty equivalent CA Price of an American call option CE Price of a European call option d Dividend rate or amount ∆ Number of shares in the replicating portfolio (Chapter xx E The expectations operator ek Endowment of agent k in state of nature θ θ f Futures position (Chapter 16); pf Price of a futures contract (Chapter 16) F, G Cumulative distribution functions associated with densities: f, g Probability density functions K The strike or exercise price of an option K(˜) Kurtosis of the random variable x x ˜ L A lottery...
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...Efficient Capital Markets Topic 4 Davenport University FINC 620 - Financial Management June 3, 2016 Efficient capital markets Market Efficiency An efficient capital market is: “A market where information regarding the value of securities are incorporated into its prices accurately and in real time. Since the value of securities fluctuates depending on the present value of future cash flows, an efficient capital market enables these fluctuations to be reflected in the securities' current price” (Investorwords.com, n.d.). What this means is that investors who invest among the stock market try and determine if the market is efficient, and whether it accurately emulates all of the influential prominent forces that are put on prices, and affected by such forces in real time. The efficient market hypothesis (EMH) is a theory among investors that states that it is impossible to out-smart the market because the efficient market always mirrors current events and information making it impossible to veer buy stock underpriced or overpriced – prices will always reflect the fair market value based on market influences. The only way to succeed in the market is to gamble with high-risk returns (Investopedia. n.d.). How this all works is investors will buy up stock and generate cash flow into the stock market, looking for a return on one’s investment. They are not always satisfied with a return; they want to maximize the return more than...
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