...chosen for my research for this assignment is L.L. Bean. L.L. Bean was founded in 1912 by Leon Leonwood Bean as a one-man operation. L.L. Bean is a source for apparel, outdoor equipment, and expert advice. The company’s headquarters is in Freeport, Maine and just down the road from their original store. Keeping their customers satisfied is their principle. L.L. Bean is a privately-held, family-owned company. They do not release any financial or operational information other than what is on their website, and they do not release an annual report, either. They have annual sales of $1.52 billion. Year round, L.L. Bean employs about 5,000 people. During the 2012 holiday season, they had roughly 9,400 employees. They offer free shipping to the U.S. and Canada with no minimum purchase. The company’s website, www.llbean.com, was launched in 1995, and it is one of the top-rated e-commerce sites in the industry. They also offer direct to business. They have been doing that since the late 1970s. They use state of the art equipment to customize products for its business customers. Their distribution is quite phenomenal! In 2007, their ability to fill orders was improved with their technologically advanced Order Fulfillment Centers located in Freeport, Maine. Their fulfillment centers have the capacity to store over 10 million units of merchandise and process an average of 50,000 customer orders a day. In 2012, L.L. Bean shipped over 15 million packages including over...
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...Supply Chain Management L.L Bean Inc October 27, 2011 Presented by: Ahsan Khawar Fahd Iqtidar Mir Nabeel Siraj Umair Babar Chishti 12020378 12020367 12020325 12020157 Q.1 L.L. Bean uses several different calculations in order to determine the number of units of a particular item it should stock, whether it is a new item or a never out item. It first freezes a forecast for its demand for the upcoming season. This figure is a result of a consensus between the product people, buyers and inventory managers. Once the predicted demand is frozen, L.L. Bean uses its historical demand and forecast data to analyze the forecasting errors. The forecast errors are calculated for each individual item and a frequency distribution of these is made, which is further used as a probability distribution for future errors. Thus, if 50% of the errors were within 0.7 and 1.6, the forecast for this year would be adjusted accordingly. Next, each item commitment quantity was tabulated using its individual contribution margin and salvage value if any. For e.g. if an item had a margin of $15 if sold, and $5 loss if not sold, the commitment value would be 0.75. Hence the optimal stock to keep would be 0.75 fractile of the probability distribution of demand. If for instance, the corresponding error for 0.75 is 1.3, the optimal stock to keep for that item would be 1.3 * frozen forecast. Hence, this value is the stock for that item. Q.2 We explain different scenarios to determine relevant costs...
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...[pic] Item Forecasting and Inventory Management MANAGEMENT CONSULTING CASE 2: L. L. BEAN INC. Q1. How do L.L. Bean use past demand data and a specific item forecast to decide how many units of that item to stock? Ans. L. L. Bean use two main methods based on past demand data to determine on the quantities to be ordered for specific items to stock. Method One The First Method of forecasting is based on quite a conservative approach, primarily manual. Product related people sit together and decide on the basis of previous/book record. They look for dollar sales of each item and rank them on this basis. They also look for the forecasted quantity of items and check it with real sold quantity. But when they have to add a new item, they find that this item will create incremental demand or will cannibalize the sales of any other item. If they find cannibalization then they adjust the quantity of items accordingly. But this method is not the same all the time and can be changed accordingly, as per the need. Method Two The Second Method of forecasting uses historical forecast errors which is called the A/F Ratio i.e. (Actual Demand / Forecast Demand). |A/F Ratio |Remarks | |A=F |Forecast was perfect | |A>F ...
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...FOUR Customer Buying Behavior Introduction to the World of Retailing Retailing Strategy Chapter 1 describes the functions that retailers perform and the variety of decisions they make to satisfy customers’ needs in rapidly changing, highly competitive retail environments. The remaining chapters in this section give you further background information to understand the world of retailing. Chapter 2 describes the different types of retailers. Chapter 3 examines how retailers use multiple selling channels— stores, the Internet, catalogs—to reach their customers. Merchandise Management Store Management Chapter 4 discusses the factors consumers consider when choosing retail outlets and buying merchandise. The chapters in Section II focus on the strategic decisions that retailers make. The chapters in Sections III and IV explore tactical decisions involving merchandise and store management. Introduction to the World of Retailing EXECUTIVE BRIEFING Maxine Clark, Chief Executive Bear, Build-A-Bear Workshop became President of Payless Shoe Stores, then a division of May Department Store with over 4,500 stores and $2 billion plus in annual sales at the time. In early 1997, I decided to launch a retail concept I had been thinking about—Build-A-Bear Workshop®. While most retailers are merchandise driven, Build-A-Bear Workshop® offers highly interactive experiences like a theme park. It combines the universal appeal of plush animals with an interactive assembly...
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...Customer Relationship Management VSF This book is dedicated to my children Emma and Lewis of whom I am enormously proud. Customer Relationship Management Concepts and Technologies Second edition Francis Buttle AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEW YORK • OXFORD PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier Butterworth-Heinemann is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA First edition 2009 Copyright © 2009, Francis Buttle Published by Elsevier Ltd. All rights reserved. The right of Francis Buttle to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988 No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher. Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone ( 44) (0) 1865 843830; fax: ( 44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http://elsevier.com/locate/ permissions, and selecting Obtaining permission to use Elsevier material. Notice No responsibility is assumed by the publisher for any injury and/or damage...
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...Monograph on the Apple Business Model @2003 Introduction. In 1984, Apple and the Macintosh challenged the world with the dramatic portrayal of a revolutionary woman hurling a hammer at an image of the establishment. With the Twentieth Anniversary of that event approaching, now is a good time to take a look back at this revolution and take stock of the new revolution that the Mac OS X operating system offers. Despite Time Magazine's 80 Days That Changed The World, it would appear that Apple doesn't get much credit for the revolution it sparked in personal computing. As the leading innovator in the computer market, and with a balance sheet holding of four billion in cash, neither its stock value nor its market share is very high. Every few months or so, a journalist reports on impending trouble for Apple Computer. Part of the reason for this negative press is that its main competitor has a 95% market share and billions more in cash. By any other standards, Apple would be judged to be an astonishing success, but a bigger question remains: Why is the Apple market share so small when it has a superior product? Blaming Microsoft for the 'ills' of Apple really misses the point. Both companies were formed early in the computer age, both had product, innovation and opportunity at a critical time, but their history is vastly different. Apple's small market share must be the result of its business model. While the business model has failed the aspirations of the Macintosh Revolution...
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...VIEW Strategic Human Resource Management Taken from: Strategic Human Resource Management, Second Edition by Charles R. Greer Copyright © 2001, 1995 by Prentice-Hall, Inc. A Pearson Education Company Upper Saddle River, New Jersey 07458 Compilation Copyright © 2003 by Pearson Custom Publishing All rights reserved. This copyright covers material written expressly for this volume by the editor/s as well as the compilation itself. It does not cover the individual selections herein that first appeared elsewhere. ii Permission to reprint these has been obtained by Pearson Custom Publishing for this edition only. Further reproduction by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system, must be arranged with the individual copyright holders noted. This special edition published in cooperation with Pearson Custom Publishing. Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Please visit our web site at www.pearsoncustom.com ISBN 0–536–72690–6 BA 996748 PEARSON CUSTOM PUBLISHING 75 Arlington Street, Suite 300 Boston, MA 02116 A Pearson Education Company iii iv Table of Contents SECTION ONE ................................................................. 1 An Investment Perspective and Human Resources .... 2 HUMAN RESOURCE INVESTMENT CONSIDERATIONS ...6 INVESTMENTS IN TRAINING AND DEVELOPMENT ..... 14 INVESTMENT PRACTICES FOR IMPROVED RETENTION ..................
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...Chapter Web resources for this chapter include • OM Tools Software • Animated Demo Quality Management In this chapter you will learn about . . . ● What is Quality? ● Quality Management System ● Quality Tools ● TQM and QMS ● The Focus of Quality Management-Customers ● The Role of Employees in Quality Improvement ● Quality in Services ● Six Sigma ● The Cost of Quality ● The Effect of Quality Management on Productivity ● Quality Awards ● ISO 9000 2 Problems • Internet Exercises • Online Practice Quizzes • Lecture Slides in PowerPoint • Virtual Tours • Company and Resource Weblinks www.wiley.com/college/russell Quality Management at GREEN MOUNTAIN COFFEE ike wine, coffee quality is judged on attributes like fragrance, aroma, acidity, body, flavor, balance, and finish. Coffee professionals use words like “lush,” “complex,” and “fruity” to describe their evaluations, which are based on precise sensory criteria. Coffee Review, one of the most respected and widely read coffee publications in the world, rates coffees based on a 100-point scale, similar to the one used in the wine industry. Coffee connoisseurs seek out coffees awarded a rating of 80 or above. Each year GREEN MOUNTAIN submits coffee to Coffee Review for independent reviews. On average, Green Mountain L Copyright © 2007 John Wiley & Sons Chapter 2 • Quality Management 53 coffees scored 88.8 points—significantly higher than their better-known west coast and European competitors—and...
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...Operations Management for MBAs Operations Management for MBAs Fifth Edition Jack R. Meredith Scott M. Shafer Wake Forest University VICE PRESIDENT & EXECUTIVE PUBLISHER EXECUTIVE EDITOR PROJECT EDITOR ASSOCIATE DIRECTOR OF MARKETING MARKETING MANAGER MARKETING ASSISTANT PRODUCT DESIGNER MEDIA SPECIALIST SENIOR CONTENT MANAGER SENIOR PRODUCTION EDITOR PHOTO DEPARTMENT MANAGER DESIGN DIRECTOR COVER DESIGNER PRODUCTION MANAGEMENT George Hoffman Lisé Johnson Brian Baker Amy Scholz Kelly Simmons Marissa Carroll Allison Morris Ethan Bernard Lucille Buonocore Anna Melhorn Hillary Newman Harry Nolan Wendy Lai Ingrao Associates This book was set in 10/12 ITC Garamond light by MPS Limited and printed and bound by RRD/Jefferson City. The cover was printed by RRD/Jefferson City. This book is printed on acid free paper. Copyright © 2013, 2010, 2007, 2002, 1999 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to...
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...Seventh Edition Accounting for Decision Making and Control Jerold L. Zimmerman University of Rochester To: Conner, Easton, and Jillian ACCOUNTING FOR DECISION MAKING AND CONTROL, SEVENTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2009, 2006, and 2003. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 3 2 1 0 ISBN MHID 978-0-07-813672-6 0-07-813672-5 Vice President & Editor-in-Chief: Brent Gordon Vice President of EDP: Sesha Bolisetty Editorial Director: Stewart Mattson Sponsoring Editor: Dick Hercher Marketing Manager: Sankha Basu Editorial Coordinator: Rebecca Mann Project Manager: Erin Melloy Design Coordinator: Brenda A. Rolwes Cover Designer: Studio Montage, St. Louis, Missouri Production Supervisor: Sue Culbertson Media Project Manager: Balaji Sundararaman Compositor: MPS Limited, A Macmillan Company...
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...Seventh Edition Accounting for Decision Making and Control Jerold L. Zimmerman University of Rochester To: Conner, Easton, and Jillian ACCOUNTING FOR DECISION MAKING AND CONTROL, SEVENTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2009, 2006, and 2003. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 3 2 1 0 ISBN MHID 978-0-07-813672-6 0-07-813672-5 Vice President & Editor-in-Chief: Brent Gordon Vice President of EDP: Sesha Bolisetty Editorial Director: Stewart Mattson Sponsoring Editor: Dick Hercher Marketing Manager: Sankha Basu Editorial Coordinator: Rebecca Mann Project Manager: Erin Melloy Design Coordinator: Brenda A. Rolwes Cover Designer: Studio Montage, St. Louis, Missouri Production Supervisor: Sue Culbertson Media Project Manager: Balaji Sundararaman Compositor: MPS Limited, A Macmillan Company...
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...ELEVENTH EDITION Management LEADING & COLLABORATING IN A COMPETITIVE WORLD Thomas S. Bateman McIntire School of Commerce University of Virginia Scott A. Snell Darden Graduate School of Business University of Virginia MANAGEMENT: LEADING & COLLABORATING IN A COMPETITIVE WORLD, ELEVENTH EDITION Published by McGraw-Hill Education, 2 Penn Plaza, New York, NY 10121. Copyright © 2015 by McGraw-Hill Education. All rights reserved. Printed in the United States of America. Previous editions © 2013, 2011, and 2009. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of McGraw-Hill Education, including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 ISBN 978-0-07-786254-1 MHID 0-07-786254-6 Senior Vice President, Products & Markets: Kurt L. Strand Vice President, Content Production & Technology Services: Kimberly Meriwether David Managing Director: Paul Ducham Executive Brand Manager: Michael Ablassmeir Executive Director of Development: Ann Torbert Senior Development Editor: Laura Griffin Digital Product Analyst: Kerry Shanahan Marketing Manager: Elizabeth Trepkowski ...
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...Marketing Management, Millenium Edition Philip Kotler Custom Edition for University of Phoenix Excerpts taken from: A Framework for Marketing Management, by Philip Kotler Copyright © 2001by Prentice-Hall, Inc. A Pearson Education Company Upper Saddle River, New Jersey 07458 Marketing Management Millenium Edition, Tenth Edition, by Philip Kotler Copyright © 2000 by Prentice-Hall, Inc. All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher. Compilation Copyright © 2002 by Pearson Custom Publishing. This copyright covers material written expressly for this volume by the editor/s as well as the compilation itself. It does not cover the individual selections herein that first appeared elsewhere. Permission to reprint these has been obtained by Pearson Custom Publishing for this edition only. Further reproduction by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system, must be arranged with the individual copyright holders noted. This special edition published in cooperation with Pearson Custom Publishing Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Please visit our web site at www.pearsoncustom.com ISBN 0–536–63099-2 BA 993095 PEARSON CUSTOM PUBLISHING 75 Arlington Street, Suite 300, Boston, MA 02116 A Pearson Education Company SECTION ONE Understanding Marketing Management Marketing in...
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...ESSENTIALS OF MARKETING THIRD EDITION JIM BLYTHE Essentials of Marketing ii Marketing Planning: principles in practice We work with leading authors to develop the strongest educational materials in marketing, bringing cutting-edge thinking and best learning practice to a global market. Under a range of well-known imprints, including Financial Times Prentice Hall, we craft high quality print and electronic publications which help readers to understand and apply their content, whether studying or at work. To find out more about the complete range of our publishing please visit us on the World Wide Web at: www.pearsoned.co.uk Last A Head on Spread 000 Jim Blythe University of Glamorgan Essentials of Marketing Third Edition Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk First published under the Financial Times Pitman Publishing imprint 1998 Second edition 2001 Third edition 2005 © Financial Times Professional Limited 1998 © Pearson Education Limited 2001, 2005 The right of Jim Blythe to be identified as author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written...
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...McGraw-Hill New York Chicago San Francisco Lisbon London Madrid Mexico City Milan New Delhi San Juan Seoul Singapore Sydney Toronto Copyright © 2003 by The McGraw-HIll Companies, Inc. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-141596-3 The material in this eBook also appears in the print version of this title: 0-07-141015-5. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill.com or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right...
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