...– 09902787224 MATERIALS MANAGEMENT 1. What do you understand from integrated materials management? What are the obstacles encountered to make this approach effective? 2. Name the industry and the products for which materials requirement planning technique would be suitable than economic order quantities and explain why? 3. What do you understand from Materials Requirement Planning (MRP)? What are its advantages over conventional tools of inventory planning? Which types of industries have use of this technique ? 4. Why should purchase department participate in product development ? Explain to what extent it is practiced in Indian Industry ? 5. Describe the procedure to be followed for the purchase of an item until payment of the bill. Indicate the controls involved. 6. What are blanket orders ? What are their salient features ? For what type of items is this method of buying suitable ? 7. How will you organize buying of seasonal commodities? Explain giving examples ? 8. How does “Buying under risk” differ from “Buying under uncertainty” ? Give a comparative analysis of the two methods ? 9. What are the responsibilities of receiving stores ? What are the different types of materials received in the organization ? 10. What is pallet ? What are the different types of pallets used in the industry? Describe in brief the advantages of palletisation ? 11. Define logistics management. Explain briefly the benefits that can accrue...
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...Inventory Management UNIT 17 Objectives INVENTORY MANAGEMENT Upon completion of this unit, you should be able to: understand the meaning of inventory and identify inventory related cost parameters learn about various types of inventory policies appreciate the role of selective inventory management know the exchange curve concept for aggregate inventory planning get a feel of some mathematical models of inventory analysis perform sensitivity analysis on a type of model compute safety stocks understand the problems of slow moving items appreciate the role of computers in inventory control have a brief idea about recent developments in inventory management. Structures 17.1 17.2 17.3 17.4 17.5 17.6 17.7 17.8 17.9 17.10 17.11 17.12 17.13 17.14 Introduction to Inventory Systems Functions of Inventory Classification of Inventory Systems Selective Inventory Management Exchange Curve and Aggregate Inventory Planning Deterministic Inventory Models Probabilistic Inventory Models Inventory Control of Slow Moving Items Recent Developments in Inventory Management Concluding Remarks Summary Key Words Self-assessment Exercises Further Readings 17.1 INTRODUCTION TO INVENTORY SYSTEMS Concept of Inventory . Inventory' may be defined as usable but idle resource'. If resource is some physical and tangible object such as materials, then it is generally termed as stock. Thus stock or inventory are synonymous terms though inventory has wider implications. Broadly speaking, the problem of...
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...Chap -1 Production management DEFINITION As any premises in which person are employed for the purpose of making altering , repairing ornamenting , finishing , clearing , washing , breaking , adopting for sale any article PRODUCTION AS THE CONVERSION PROCESS Production process of changing input into output . INPUT Lab our Material Equipment Capital Management OUTPUT Goods and services Conversion Process COMPARISION Actual V/s Planned The input to the production system are raw material , parts , energy , production schedules , information technology , capital or management and output are the goods , transported goods ,delivered message , services customers. For example :- 1) In manufacturing organization like steel plant , input are materials like iron , ore , coke , lime stone ,etc 2) In service organization like bank , inputs are customer and output are serviced customer COMPONENTS OF PRODUCTION FUNCTION PLANNING | * Product selection and design * Process selection and planning * Facility location * Facility layout and materials handling * Capital planning * Forecasting * Production planning | ORGANISING | * Work study and job design | CONTROLLONG | * Production control * Inventory control * Quality control * Maintenance and replacement * Cost of reduction and cost control | 1. Production selection and design -A right kinds of products and good design of the product are crucial for the...
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...Purchasing and Supply Management focuses on decision making throughout the supply chain. Based on the conviction that supply managers, in concert with suppliers and distributors, have to contribute to organizational goals and strategies, this edition continues to focus on how to make that mission a reality. Fourteenth Edition Highlights of the Fourteenth Edition: More than 40 real-life supply chain cases afford the opportunity to apply of the acquisition process. Criteria for supply decisions have been organized into three categories: (1) strategic, (2) operational, and (3) additional. In this third category, new factors such as balance sheet and income statement considerations, dimensions of risk, and environmental and social considerations are considered. Visit the text’s Online Learning Center at www.mhhe.com/Johnson14e Michiel R. Leenders, D.B.A., PMAC Fellow Professor of Purchasing Management Emeritus Richard Ivey School of Business The University of Western Ontario Anna E. Flynn, Ph.D., C.P.M. Formerly Clinical Associate Professor Supply Chain Management Thunderbird School of Global Management Formerly Associate Professor Institute for Supply Management TM Johnson Leenders Flynn Purchasing and Supply Management Johnson Leenders Flynn MD DALIM #1093963 06/05/10 BLUE GREEN P. Fraser Johnson, Ph.D. Leenders Purchasing Management Association of Canada Chair Associate Professor, Operations Management Richard Ivey School...
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...Purchasing and Supply Management focuses on decision making throughout the supply chain. Based on the conviction that supply managers, in concert with suppliers and distributors, have to contribute to organizational goals and strategies, this edition continues to focus on how to make that mission a reality. Fourteenth Edition Highlights of the Fourteenth Edition: More than 40 real-life supply chain cases afford the opportunity to apply of the acquisition process. Criteria for supply decisions have been organized into three categories: (1) strategic, (2) operational, and (3) additional. In this third category, new factors such as balance sheet and income statement considerations, dimensions of risk, and environmental and social considerations are considered. Visit the text’s Online Learning Center at www.mhhe.com/Johnson14e Michiel R. Leenders, D.B.A., PMAC Fellow Professor of Purchasing Management Emeritus Richard Ivey School of Business The University of Western Ontario Anna E. Flynn, Ph.D., C.P.M. Formerly Clinical Associate Professor Supply Chain Management Thunderbird School of Global Management Formerly Associate Professor Institute for Supply Management TM Johnson Leenders Flynn Purchasing and Supply Management Johnson Leenders Flynn MD DALIM #1093963 06/05/10 BLUE GREEN P. Fraser Johnson, Ph.D. Leenders Purchasing Management Association of Canada Chair Associate Professor, Operations Management Richard Ivey School...
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...WRITERS 1. MICHAEL K. CHIRCHIR 2. JOASH N. MAGETO DPS 302 INVENTORY MANAGEMENT A. COURSE OBJECTIVES At the end of this course you will be able to:- • Comprehend the importance of inventory management in an organisation and gain a broad understanding of how inventory management fits into the broader function of supply chain management. • Explain three broad areas of inventory management, namely; demand forecasting, inventory models and warehousing. • Apply inventory control models in day to day business management. B. COURSE CONTENTS LECTURE 1: INTRODUCTION TO INVENTORY MANAGEMENT 1. Introduction 2. Objectives 3. The Concepts of Inventory and Inventory Management 4. Need for Inventory 5. Importance of Inventory Management 6. Scope of Inventory Management 7. Inventory Costs 8. Summary 9. References LECTURE 2: INVENTORY CONTROL SYSTEMS 2.1 Introduction 2.2 objectives 2.3 Fixed Quantity System 2.31 Advantages 2.32 Disadvantages 2.4 Fixed Time System 2.41 Advantages 2.42 Disadvantages 2.5 Hybrid Systems 2.6 Summary LECTURE 3: DEMAND FORECASTING I 3.1 Introduction 3.2 objectives 3.3 meaning of demand forecasting 3.4 Qualitative Judgmental Techniques 3.31 Delphi Method 3.32 Market Survey 3.33 Historical Analogy 3.5 Quantitative methods 3.51 Causal Methods 3.5.1.1 High-Low Method Advantages Disadvantages 3.5.1.2 Visual Fit Method Advantages Disadvantages 3.5.1.3 Simple Regression Analysis Derivation of the...
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...KENYATTA UNIVERSITY SCHOOL OF BUSINESS DEPARTMENT: MANAGEMENT SCIENCE DEPARTMENT UNIT CODE & NAME: BMS 840 –QUANTITATIVE TECHNIQUES WRITTEN BY: Ms. Gladys Kimutai and Mr. Paul Sang Copyright © Kenyatta University, 2014 All Rights Reserved Published By: KENYATTA UNIVERSITY PRESS i ii MODULE SUMMARY During the last two decades, there has been a dramatic change in the business environment. The trend towards complexity has increased the risk associated with business decisions, making it more important to have a sound information base. To do well in such an environment, one will need to understand how to identify quality information and recognize the solid, reliable research on which one‟s high-risk decisions as a manager can be based. One also needs to know how to analyze the research findings. The study of quantitative techniques provides one with the knowledge and skills needed to solve the problems and the challenges of a fast-paced decisionmaking environment. Managers make decisions on a day to day basis and it is necessary for them to be able to analyze the data so as to be able to make optimal decisions. This module has ten lesson which cover matrix algebra, markov analysis, Linear programming, differentiation, applications of differentiation to cost, revenue and profit functions, integral calculus, inventory models, sampling and estimation theory, hypothesis testing and chi-square tests. iii MODULE OBJECTIVES By the end of...
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...2010 annual report RXU stakeholder philosophy Our “bottom line” ultimately depends on our ability to satisfy all of our stakeholders. Our goal is to balance the needs and desires of our customers, Team Members, shareholders, suppliers, communities and the environment while creating value for all. By growing the collective pie, we create larger slices for all of our stakeholders. Our core values reflect this sense of collective fate and are the soul of our company. RXU core values VHOOLQJ the highest quality natural and organic products available VDWLVI\LQJ and delighting our customers VXSSRUWLQJ Team Member happiness and excellence FUHDWLQJ wealth through profits and growth FDULQJ about our communities and our environment FUHDWLQJ ongoing win-win partnerships with our suppliers SURPRWLQJ the health of our stakeholders through healthy eating education OHWWHU WR stakeholders Dear Fellow Stakeholders: In 2010, we successfully emerged from the most challenging year in our company’s history to produce strong results for all of our stakeholders. Building on the strategic decisions we made during the recession, we capitalized on the improving economy and the increasing confidence of consumers, quickly gaining back customers at a much faster rate than our competitors. We continued to strike the right balance between driving sales, improving our value image, and maintaining gross margin. For the fiscal year, we produced a 12% increase in sales to $9.0 billion driven by 7%...
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...Accounting Concepts and Conventions Accounting Standards in India and International Accounting Standards Summary Self-Assessment Test Further Reading 2 Accounting for Managers 1.1 Introduction Financial accountancy (or financial accounting) is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners and other stakeholders. Financial capital maintenance can be measured in either nominal monetary units or units of constant purchasing power. The central need for financial accounting is to reduce the various principal-agent problems, by measuring and monitoring the agents' performance and thereafter reporting the results to interested users. Financial accountancy is used to...
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...Accounting Concepts and Conventions Accounting Standards in India and International Accounting Standards Summary Self-Assessment Test Further Reading 2 Accounting for Managers 1.1 Introduction Financial accountancy (or financial accounting) is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners and other stakeholders. Financial capital maintenance can be measured in either nominal monetary units or units of constant purchasing power. The central need for financial accounting is to reduce the various principal-agent problems, by measuring and monitoring the agents' performance and thereafter reporting the results to interested users. Financial accountancy is used to...
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...TE AM FL Y ESSENTIALS of Supply Chain Management Essentials Series The Essentials Series was created for busy business advisory and corporate professionals.The books in this series were designed so that these busy professionals can quickly acquire knowledge and skills in core business areas. Each book provides need-to-have fundamentals for those professionals who must: Get up to speed quickly, because they have been promoted to a new position or have broadened their responsibility scope Manage a new functional area Brush up on new developments in their area of responsibility Add more value to their company or clients • • • • Other books in this series include: Essentials of Accounts Payable, by Mary S. Schaeffer Essentials of Capacity Management, by Reginald Tomas Yu-Lee Essentials of Cash Flow, by H.A. Schaeffer, Jr. Essentials of Corporate Performance Measurement, by George T. Friedlob, Lydia L.F. Schleifer, and Franklin J. Plewa, Jr. Essentials of Cost Management, by Joe and Catherine Stenzel Essentials of CRM: A Guide to Customer Relationship Management, by Bryan Bergeron Essentials of Credit, Collections, and Accounts Receivable, by Mary S. Schaeffer Essentials of Financial Analysis, by George T. Friedlob and Lydia L.F. Schleifer Essentials of Intellectual Property, by Paul J. Lerner and Alexander I. Poltorak Essentials of Shared Services, by Bryan Bergeron Essentials of Trademarks and Unfair Competition, by Dana Shilling Essentials of XBRL: Financial Reporting...
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...UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED SEPTEMBER 25, 2011 COMMISSION FILE NUMBER: 0-19797 WHOLE FOODS MARKET, INC. (Exact name of registrant as specified in its charter) Texas (State of incorporation) 74-1989366 (IRS Employer Identification No.) 550 Bowie Street Austin, Texas 78703 (Address of principal executive offices) Registrant’s telephone number, including area code: 512-477-4455 Securities registered pursuant to section 12(b) of the Act: Common Stock, no par value Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No þ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during...
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...Op"erations Research This page intentionally left blank Copyright © 2007, 2005 New Age International (P) Ltd., Publishers Published by New Age International (P) Ltd., Publishers All rights reserved. No part of this ebook may be reproduced in any form, by photostat, microfilm, xerography, or any other means, or incorporated into any information retrieval system, electronic or mechanical, without the written permission of the publisher. All inquiries should be emailed to rights@newagepublishers.com ISBN (13) : 978-81-224-2944-2 PUBLISHING FOR ONE WORLD NEW AGE INTERNATIONAL (P) LIMITED, PUBLISHERS 4835/24, Ansari Road, Daryaganj, New Delhi - 110002 Visit us at www.newagepublishers.com PREFACE I started my teaching career in the year 1964. I was teaching Production Engineering subjects till 1972. In the year 1972 I have registered my name for the Industrial Engineering examination at National Institution of Industrial Engineering, Bombay. Since then, I have shifted my field for interest to Industrial Engineering subjects and started teaching related subjects. One such subject is OPERATIONS RESEARCH. After teaching these subjects till my retirement in the year 2002, it is my responsibility to help the students with a book on Operations research. The first volume of the book is LINEAR PORGRAMMING MODELS. This was published in the year 2003. Now I am giving this book OPERATIONS RESEARCH, with other chapters to students, with a hope that it will help them to understand...
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...dominate the United States’ consumer market. Third-world nations in Central and South America, Southeast Asia, and China continue to attract U.S. manufacturers seeking low wages for laborious tasks. And, in the midst of everything, the United States is a giant consumer base with an enormous command of technology but steadily losing the infrastructure needed to create jobs. In addition to significant events that have impacted the world’s business environment, individual firms have had to change radically in response to burgeoning technologies. Historically, the management of materials and component parts was the most neglected element in the production process. Only when the cost of materials and subassemblies increased did management attempt to investigate alternative methods to the planning and control of the acquisition and transformation functions in the organization. Instead, most firms emphasized minimizing the cost of capital and labor. The focus on labor was logical because the industrial revolution had generated many labor-intensive manufacturers. Producing large standardized batches represented the norm for some manufacturers. Some firms have embraced new technologies and invested in technology driven manufacturing systems. Although these new systems are up and running, too frequently they are being operated just like the old...
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...CHAPTER- 1 1.1: INTRODUCTION The word 'business' is actually derived from the idea of 'busy-ness'. This idea accurately describes most organizations: they are busy organizing resources, producing, selling, managing people and keeping track of finances. The people running the business have to organize people, money, materials and machines to produce a good or service to sell or give to their customers. Organisations: Since the dawn of time, civilized man has designed and built facilities in which to present great ideas. The Concept Organization manages ideas with the same monumental approach. Few things touch our daily life as much as Organisations do. We depend on organisations for education, food, clothing, shelter, health, wealth, recreation, travel, and much more. But what are they, have they come with us? Yes, organisations are as old as the human race itself. Archaeologists have discovered massive temples dating back to 3500 BC that were constructed through the organized actions of many people. The fact that impressive monuments were built suggest that not only did complex organisations exit, but that the people in them worked cohesively for common causes. “They are groups of people who work independently towards some purpose. Organisations are not physical structure; rather they are people who work together to achieve a set of goals. People who work in organisations have structured patterns of interactions, meaning...
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