...Analysis Of Scientific Glass Inventory Management Finance EssayAnalysis Of Scientific Glass Inventory Management Finance Essay The products of Scientific Glass include customized and specialized glassware for a variety of organizations such as pharmaceutical companies, hospitals, research labs, quality-control sites and testing facilities. By January 2010, a substantial increase in their inventory balances tied up the capital needed for investment for expansion. The debt-to-capital ratio exceeded the 40% target preventing the company to use their capital in other areas. Also the shipping costs were rising, competitive pressures were speeding up, and certain markets in North America and Europe were becoming saturated which underscored the necessity for capital investment for expanding market opportunities in Latin America and Asia. Moreover, expanding warehousing network increased the inventory levels along with costs, documentation complexities and errors. The company hired a new Manager of Inventory Planning, Ava Beane, to come up with an effective plan to manage SG’ s inventory without requiring a large capital investment. In order to finance operations in year 2010, SG requires an external funding of $53.8 million. These expenses would further limit the company to use their existing capital in other areas such as research and development and expanding to international markets. To improve customer service levels, SG had increased the target customer fill rate to 99% and added...
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...[pic] FACULTY OF BUSINESS Assessment 2 Essay outline MGMT110: Introduction to Management INSERT: Karan Saluja ; 4970135 SNY Pty Ltd Starting as a small manufacturing business in 1980’s, SNY Pty Ltd is a Campbelltown, NSW, Australia based manufacturing company previously owned by Gary Smith. The company became more global after Gary Smith got retired(Owner and Founder) and he sold the SNY to a large multinational oil and lubricants business. This essay outline briefly highlights the major management issues and challenges faced by SNY Pt Ltd. While it touches on the topic of manufacturing department , the challenge of managing the unskilled laborer’s with inexperienced staff will remain the overarching theme of the outline and subsequently essay. When the company started growing more and more the management issues started rising up, The main issue was the workforce was totally unskilled and the general manager of campbelltown branch Juliette Livingstone understands oils and lubricants but, as a British citizen growing up in Hong Kong she really doesn’t understand Australian worker context. She sees Australian factory floor workers as lazy compared to the Chinese who worked for her in Hong Kong. In Hong Kong, for example, she felt a greater control over the raw material and finished product supply chain. In Australia everything takes longer to arrive, the Australian dollar varies (making...
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...influential is Scientific Management in 21st Century? Please note: The referencing system used in this essay is NOT the Harvard System and therefore INCORRECT practice. Please ignore this style of referencing, the essay is shown as a model of good practice only re structure and analysis. How influential is scientific management in the 21st century? 1. Scientific management was originally developed in the 1800s by an economist, Adam Smith. He was interested in a factory that operated and produced pins, and through the breaking down of tasks e.g. division of labour he increased output from 20 pins per employee per day to 4,800 pins. However the greatest break through in scientific management came in the 1900s during the peak of the industrial revolution, and due to the emergence of the factory system more attention was being given to methods or factors that could contribute towards increasing output levels. It was here that Frederick Taylor began his studies into this field and his ideas were later furthered by individuals such as Gilbreth and Gantt. Despite each individual having a significant input into the study of scientific management Taylor was widely regarded as the ‘Father of Scientific Management’ and hence the term ‘Taylorism’ being introduced. 2. Technically Scientific Management is the “management thought concerned primarily with the physical efficiency of an individual worker”[1]. However George Ritzer defined Scientific Management as a procedure...
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...Over the years, different methods of management has been used in organizations to enable the success of the business, two distinct management approaches are scientific management by Fredrick Taylor who saw workers more as robots than people and human relations approach by Elton Mayo who saw his worker more as social people than as robots. In this essay, I would show the differences between management science and human relations. One of the differences between human relations and scientific management is that Human relations are based on motivation, group motivation, leader and most importantly the relationship between the employer and the employee. Mayo saw the workers as human beings and in order for the business to achieve its goals, the business organization must try understanding and respecting the emotions and satisfying of needs of the workers that are not monetary (Khan, 2008). Scientific management is based mostly on workers working at their fullest potential in order to achieve maximum productivity, Taylor saw the workers as machines that are meant to be given instructions on how to perform tasks without considering their human side. Another difference is the use of time and motion studies scientific management method involves time and motion studies which is basically a method of creating a standard for employee productivity through breaking down of task to its easiest form in a manner in which there is no wasted motion while the exact time for each correct movement...
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...Scientific management is a theory of systematic study with great influence that attempts to apply science to the process of management with the main objective to improve economic efficiency. The theory was first introduced by Frederick Winslow Taylor in 1912 and has been altered and developed for several times. (Freeman, 1996, P35) Is scientific management still relevant to a predominantly service economy is debatable. The aim of this essay is to discuss the supporting viewpoints. Several reasons are provided to support the relevance of scientific management and the current service economy which are listed as followings: firstly, applying science for each element of work to create best way to perform the task; secondly, division of labor, specialization and total quality management system are used to increase efficiency of the production; finally, piece-rate as one of the reward systems of scientific management is widely used till nowadays. At first, Taylor stated the measurement of scientific management is to develop a science for each element of a work which includes discovering one best way to perform the task, planning each task in advance with instructions describing in details and determining the correct time to complete each task. (Aguiar, 2001, P257) For instance, Aguiar identifies how scientific management is applying to the measurement of cleaning work in the new building workplace, which is one example of service economy. Science is used to calculate the size of...
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...UNIVERSITY COURSE: Management perspectives (MGMT6012) ASSESSMENT: Case study made by: MOHAMAD CHEBBO (00142863T) TRUST TECHNOLOGY Introduction Trust According to Trust, organizational theories are many and they are a mixture of various approaches to analyse an organization and the way it perform. One of these approaches is the classical organizational theory that is divided into two sub topics: the scientific management theory and the bureaucracy theory. The management at Trust Technology is adopting the classical scientific management theory in its operations. The management in the company considers that the scientific theory that is based on managing the workers in order to improve the production is the best solution for their scenario. Trust Technology is an 8 years old business that is classically focusing on the relation between the worker and the employer without any complex organizational management. After its third year, Trust Technology started to have more customers and hence the business started to expand. The number of workers increased and then more supervision and management strategies should be implemented at this case. It is important for companies to know what organizational theory approach to use in order to improve the companies productivity, and also what is more important is to know what kind of approach to take and when should the company take a step forward. After knowing the problem, the management in Trust Technology decided to move...
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...The concept of this essay is to compare and contrast between the Scientific School of Thought and the Behaviorist School of Thought. To better understand this essay two matters must be understood, firstly understanding the meaning of management and secondly, the evolution of management. Management is a collection of different roles undertaken to achieve a job effectively. Another matter that needs to be understood is the evolution of management. Management has evolved from the classical approach to bureaucracy to human relations movement and social psychological schools and finally to modern approach to management. The individuals involved during the evolution of management are Frederick Winslow Taylor, Henri Fayol, Max Weber, and Elton Mayo. F. W. Taylor and Henri Fayol developed classical theories and were concerned with the arrangement and performance of a formal organisation. Max Weber developed a structure of organization known as bureaucracy. Weber developed six characteristics of bureaucracy as followed below: 1. Rules created by management, management will direct the lower levels of the organization by using in a steady and expected approach. 2. Separation of labour, each job is specified with different responsibilities and authority. 3. Hierarchical arrangement, each and every organization has a hierarchy of power. The top level staff gives direction to middle level staff and the middle level staff gives direction to the lower level...
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...influential is Scientific Management in 21st Century? Please note: The referencing system used in this essay is NOT the Harvard System and therefore INCORRECT practice. Please ignore this style of referencing, the essay is shown as a model of good practice only re structure and analysis. How influential is scientific management in the 21st century? 1. Scientific management was originally developed in the 1800s by an economist, Adam Smith. He was interested in a factory that operated and produced pins, and through the breaking down of tasks e.g. division of labour he increased output from 20 pins per employee per day to 4,800 pins. However the greatest break through in scientific management came in the 1900s during the peak of the industrial revolution, and due to the emergence of the factory system more attention was being given to methods or factors that could contribute towards increasing output levels. It was here that Frederick Taylor began his studies into this field and his ideas were later furthered by individuals such as Gilbreth and Gantt. Despite each individual having a significant input into the study of scientific management Taylor was widely regarded as the ‘Father of Scientific Management’ and hence the term ‘Taylorism’ being introduced. 2. Technically Scientific Management is the “management thought concerned primarily with the physical efficiency of an individual worker”[1]. However George Ritzer defined Scientific Management as a procedure...
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...relations’ (…) are the maintenance crew for the human machinery.” (Braverman 1974, p.87). Scientific Management and Human Relations are the pioneering movements which shaped today management. Taylor (1911) was convinced that the best management can only be achieved by having clearly defined laws, rules and scientific principles. Mayo (1924), on the other hand, suggests that the factor determines productive efficiency is the mental preoccupation of the worker. This essays will explore the different views of these schools of thought on handling and controlling the workforce and discuss how they maximise production. In ‘The principles of scientific management’, Taylor (1911) came up with principles of management for both employees and employers to achieve a high level of production. They include the breaking down of an activity into smaller tasks and optimise the time required to do them, standardising the selection and training of workers, and the division of labour with managers supervising workers. High productivity level is a result of a detailed systematisation of the production chain. In contrast, Human Relations consists of supervisory training in interpersonal skills and leadership. Mayo (1933) believes this impacts workers at the psychological and personal level, and their mental states correlated to the performance. The key difference here is how employees are viewed. Scientific Management sees them as a mechanical and passive individual unit of the organisation, while Human...
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...FOREIGN TRADE UNIVERSITY | SCIENTIFIC MANAGEMENT AND HUMAN RELATIONS MOVEMENT – APPLICATION IN ORGANISATIONS OF THE 21st CENTURY | BUSINESS CORE INTERGRATED PROGRAMME – MR. TRAN QUOC TRUNG | PHAM THI YEN NHI – 1301BF5038 – K52BFA 5/22/2015 | In recent years, human society is having the most dramatically unmatched development speed. To meet the demand of today modern age and become pioneers or successful managers, each of us must have prompt and sensible ability to realize which changes are occurring and which trends are going to expand in the future. In order to realize those changes quickly and successfully, leaders of the 21st century should base on scientific management and human relations movement, which are respectively basic managing theories of Frederick W. Taylor and Elton Mayo. This leads to management and also art of managing have been playing a significant role in every side of our life. Moreover, to manage a world that never stops changing at present and in the future, managers, manage process and organizational methods will have many differentiations (Management in 21st century, Subir Chowdhury). Therefore, this essay will concentrate on the way how scientific management and human relations are applied in organizations of the 21st century. Some aspects such as: definition, practical examples and the applications of the theories in each circumstance of present will be mentioned. Scientific management is a manage theory developed by F. W. Taylor, based...
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...FROM TAYLORISM TO AUTONOMY In this essay we will present how the managements concept was developed from F.Taylor concept to contemporary management concepts. We will point to a few selected aspects of strengths and weaknesses of scientific management. From craftsmanship to mass production. Scientific management.- breakthrough in the industrial production. Until F.Taylor published his book 'Principles of scientific management' in which he laid down fundamental principles of large-scale manufacturing through assembly-line factories, good production was based mostly on the work of crafts. "Production efficiency methodology that breaks every action,job, or task into small and simple segments which can be easily analysed and taught. Introduced in the early 20th century, Taylorism (1) aims to achieve maximum job fragmentation to minimize skill requirements and job learning time, (2) separates execution of work from work-planning (3) separates direct labour from indirect labour (4) replaces rule of thumb productivity estimates with precise measurements, (5) introduces time and motion study for optimum job performance, cost accounting,tool and work station design and (6) makes possible payment-by-result method of wage determination.”1. ( reference). Application in industry scientific management methods a specially assembly-line factories made it possible to mass production of goods. Many products previously inaccessible for a mass audience, such as for example...
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...Critical Review and Personal Analysis of Scientific Management Introduction Comparing to the economic environment in past decades, in today’s economy, more and more large companies and firms tend to find suitable management methods to regulate and operate their labour forces in consideration of maximizing efficiency and profits. Certainly, without an applicable management method, firms and corporations will lack of dynamic and motive power to operate decently. Taylorism, also known as scientific management, is one of the most well-known and widely applied management method introduced by Frederick Winslow Taylor in the late 18th century, and this theory was peaked in the early 19th century. Taylor argued that the fundamental of seeking wealth for both employers and employees is to have working efficiency and productivity maximized; to reach this working stage, a company is required to manage and operate scientifically rather than empirically. (Wikipedia, from http://en.wikipedia.org/wiki/Scientific_management) In fact, Taylor’s scientific management is criticized by socialists and workers as it only focus on productivity and efficiency and treat workers as ‘machines and animals’, and it is also argued to be the tool of exploitation for capitalists. Indeed, in my opinion, despite the efficiency and productivity advantages that scientific management can generate, its inconsideration of employees personal affects and emotions will not only impair the future of a company, but also...
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...How does the use of management approaches keep pace with the changing trends of worlds? Union is strength. This common saying has existed between people for a long period of time. With the start of cooperation between different people, they tend to start forming groups when facing a problem that requires much effort. David Premack (2010) suggests that there are fundamental differences between humans and animals. Humans alone can reinterpret the higher order relations between these relations. This gradually leads to differences on mind set in different unique individuals. Different people do not always share the same thoughts as compared to one another. Conflicts or misunderstanding usually come up, making team productivity unfavorable. As a result, management approaches are always essential to maintain the unity of the whole team. Management approaches are important in remaining team productivity. However, these approaches were not exactly the same in the past. The approaches changed from time to time in order to suit the exact needs of that certain period of time. I find out that it will be interesting to discuss and search more deeply about the ways and reasons on the changes of management approaches. In this essay, I will be identifying different main management approaches, then applying and analyzing the reason why it was used at that time. The first type of management approaches comes from the ancient management. Its history can be followed back to at least...
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...MANUFACTURING ENGINEERING FME 543 INDUSTRIAL MANAGEMENT TERM PAPER CONTRIBUTIONS OF TAYLOR’S PRINCIPLES OF INDUSTRIAL MANAGEMENT OF TODAYS PRODUCTION MANAGEMENT(TAYLORISM) Name: David Mathaga Reg: F18/23827/2008 CONTENT: 1. Introduction Taylorism: - Definition 2. Overview -General approach -Contributions -Elements 3. Applications -McDonalds -Toyota 4. Conclusion 5. Reference INTRODUCTION: TAYLORISM: Definition: Production efficiency and methodology that breaks every action job or task into small and simple segments which can be easily analyzed and taught. Taylorism, * Aims to achieve maximum job fragmentation to minimize skill requirements and job learning time, * separates execution of work from work-planning, * separates direct labor from indirect labor * replaces rule of thumb productivity estimates with precise measurements, * introduces time and motion study for optimum job performance, cost accounting, tool and work station design, and * makes possible payment-by-result method of wage determination Named after the US industrial engineer Frederick Winslow Taylor (1856-1915), Taylor believed that the industrial management of his day was amateurish, that management could be formulated as an academic discipline, and that the best results would come from the partnership between a trained and qualified management and a cooperative and innovative workforce...
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...BusinessTOPIC: Are scientific management and human relation approaches still applicable to organization of the 21st century? Full name: Trần Võ Khánh Linh Student ID: 1301BF5024 Class: K52-BFB Lecturer: Mr. Trần Quốc Trung Submission date: July 20, 2015 | Introduction Management can have the most remarkable effects on organizations. Therefore, management has become an essential element of the organization. From the past, managers had to figure out the ways to manage different workers’ skills, workplace conditions, history background or even their emotions. Thus, the development of the method in order to carry out that crucial part of the managing job is required urgently. Throughout history, there have been various approaches of management theories authored by experts like Frederick W. Taylor, Elton Mayo, Peter Drucker... to basically give managers a guideline of how to control human labor. In fact, a number of management strategies can be observed with the passing of time, and two important ones that shall be mentioned here are Scientific Management - which was published by Frederick W. Taylor, and the Human Relations approach of Elton Mayo. Both theories are not hard to recognize within the modern day workplace, and these methods of working seem so commonplace and so logical to a citizen of the modern world - the 21st century - a century of innovation and sustainable development. The purpose of this essay is to analyse the extent to which Taylor’s Scientific Management and Mayo’s...
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