...In 2002, the Timken Company was considering acquiring the Torrington Company from Ingersoll-Rand. The acquisition would make a clear statement to the market about Timken’s commitment to remain a worldwide leader in the bearing industry by combining more than 100 years of bearing manufacturing and development experience. Because the two companies shared many of the same customers but had few products in common, customers would surely appreciate that Timken’s sales representatives could meet more of their needs. Timken’s potential annual cost savings from consolidating manufacturing facilities and processes were estimated to be more than $80 million. If the price paid for Torrington were too high, Ingersoll-Rand, rather than Timken, would capture the value of the synergies. In addition, given the large size of the acquisition, Timken was concerned about the impact on its balance sheet. If Ingersoll-Rand demanded a cash deal and if Timken raised the money with new debt, the increased leverage would almost certainly prompt credit agencies to downgrade Timken’s investment-grade rating. The Bearing Industry Bearings of various sizes and specifications found their way into everything from space shuttles to household appliances, automobiles, dentist drills, roller skates, and computer disk drives. In 2001, U.S. establishments involved in ball- and roller-bearing manufacturing employed more than 33,000 workers. The bearing industry was facing a variety of complex problems. Policies...
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...Dissertation On “A Study On Cold Chain Logistics ” Submitted by: Garvita Uniyal A. STATEMENT OF THE PROPOSAL Problem Statement “ A Study on Cold Chain Logistics ” is the research work that deals with different process and techniques used for reducing spoilage, retain the quality of the product, guarantees a cost efficient delivery and maintaining ideal storage conditions for perishables products from the point of origin to the point of consumption in the food supply chain. Background Cold Chain Logistics is the logistics system that provides ideal condition to the temperature sensitive perishable goods from the point of origin to the point of consumption through thermal and refrigerated packaging methods and the logistical planning to protect the integrity of these shipments. The Cold Chain logistics infrastructure generally consists of: Pre-cooling facilities, Cold storage, Refrigerated Carriers, Packaging, Warehousing, Information Management System, Traceability and Financial & Insurance Institution. A Cold Chain is a temperature controlled supply chain which begins at pre-cooling stage prior to shipping. It involves a temperature and moisture controlled transportation and storage of refrigerated goods and frozen goods. With the growing demand of the fast food, ready meal and frozen products, Logistics organization are seeking for better cold chain solutions. Organizations are using several food temperature levels to suit the different...
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...Edition: 1.1 February 2002 Distance Education Course ML–302.5 Marine Terminal Operations Unit 1 Marine Terminals The three lessons in this unit will cover the topics of: • the role and function of marine terminals • terminal development • operational planning • civil engineering aspects of terminal design. Module B: Certificate in Maritime Logistics Diploma in Shipping Logistics—Jamaica Maritime Institute 1−1 Unit 1: Marine terminals Marine Terminal Operations Unit 1 ...........Activities and expectations Agenda To complete this unit, you will: • Read and study the text in this unit and any assigned passages in the Student Reader. • Apply the information by performing the Activities • Test yourself by doing the Practice Exercises and checking your answers. Resources There is no textbook for this course. All the information you require is in this Study Guide. In addition, your Student Manual lists some books that you may wish to read to expand your knowledge. Learning outcomes When you have completed this unit you will be able to: • • Explain some of the considerations in equipment selection. • Discuss the needs for storage areas. • Discuss safety and emergency response considerations. • 1−2 Describe the role and functions of marine terminals. List the broad categories of studies that are needed in planning a new terminal. Module B: Certificate in Maritime Logistics (Course...
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...judgment. 4. All of the following are examples of total quality management practices except: A. B. C. D. E. Redesign of a product to reduce its parts by 50 percent. Reduction in the movement required in a manufacturing job. Separating the sales and services functions. Raising raw material quality standards. Cross-training assembly line workers to cover sick leave absences. 5. In a local factory, employees are rewarded for finding new and better ways of changing the way they work. This company is motivating its employees to use what management technique? A. B. C. D. E. Benchmarking. Activity-Based Costing. Theory of Constraints. Continuous Improvement. Total Quality Management. 6. A company's management accountant is trying to improve the way costs are allocated within the company. Currently, several corporate expenses are grouped together and labeled "overhead." If the accountant wanted to use activity-based costing (ABC) to help solve the problem, what should she do? A. B. C. D. She should try to map the departments' costs to their cost objects, and then charge each...
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...The Ford Motor Company’s Supply Chain Management Landon Orchard 292 Windermere Court West, London, Ontario, Canada 519-661-7006 Landon Orchard is currently an undergraduate business management major at Ashland University, Ashland, Ohio North Central Ohio APICS Chapter Full-time undergraduate student The Ford Motor Company’s Supply Chain Management 2 The Ford Motor Company’s Supply Chain Management ABSTRACT The influx of foreign automobiles that flood the United States market is higher than ever before and American companies are struggling to adapt to this decrease in market share. Ford is one of the organizations that has restructured its supply chain strategy to better integrate suppliers into their system reducing cost and making delivery more efficient. INTRODUCTION Background of Ford As European and Asian car manufacturers continue to make advancements on the American markets, Ford's market share will decrease even further. One of the processes that Ford must improve is its supply chain management. By being able to speed up and better interact with suppliers and consumers, Ford will regain lost market share by communicating customer needs between themselves and their suppliers and acting upon these requests quicker and more efficiently. The Ford Motor Company has been the focus of supply chain operations analysts lately as they have begun to revamp their supply chains and how they interact with suppliers and customers. Ford has been a leading...
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...report was put together by Marketing Team D to introduce a new marketing plan for a new product being introduced by Schwinn, the Tailwind electric bicycle. Schwinn has developed an electric bicycle that will be perfect for riders who want a comfortable and versatile bike for casual and fitness riding. This report will cover the SWOTT analysis of the Tailwind, the target market, what our research strategy was to develop this plan, segmentation, organizational buyers and consumers, the competitive landscape, features and benefits of the product, positioning and differentiation, and the pricing strategy for the Schwinn Tailwind. Marketing Team D has also included place and promotion elements, and the overall budget for the marketing plan. Overview of Schwinn Ignaz Schwinn began the Schwinn Bicycle Company in 1895. In 1998 Schwinn and GT bicycles merged to become Schwinn/GT. Forming this alliance has placed Schwinn as one of the top bicycle producers in the United States. “From your first ride without training wheels to a summer cruise at the beach with your friends, the thrill of riding a bike never gets old. Many of our fondest memories are tied to experiences we've had on bikes, rooted in unbridled joy and carefree fun. Even if you haven't hopped on a bike in a while, it won't take long for the smiles and laughs to come back ("Schwinn", 2014). Importance of Marketing The success of any product or business relies heavily on their marketing. If we want our product to do well,...
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...2010 White Paper 10 Things You Should Know Before Buying An Energy Trading & Risk System London: +44 20 7632 0170 Moscow: +7 495 925 7245 Singapore: +65 6738 6525 New York: +1 212 904 0740 Kuala Lumpur: +603 2776 6805 moreinfo@aspectenterprise.com 10 Things You Should Know Before Buying An Energy Trading & Risk System -- Table of Contents -- Part I: The 10 Key Points To Consider Before Buying An ETRM System......................Pages 1-5 1. Hardware Vs. So ware-as-a-Service (SaaS) 2. Speed Of Implementa on 3. Integra on 4. Customiza on 5. Affordability 6. Access 7. Security 8. Protec on Against Loss 9. Project Management 10. Scalability Part 2: A Problem-Solving Approach By Leading Companies ...................................Pages 6-11 Read About Four Very Different Companies & Their Success In Approaching & Implemen ng An Energy Trading & Risk System. Case Study 1: Singapore, Trading Company With Bunkering Opera ons (Company Confiden al) ....................................Page 7 Case Study 2: Germany, Trading Company With Bunkering Opera ons (Company Confiden al)...................................Page 7-8 Case Study 3: Africa, Regional Trading Company: Linetrale ............................................................................................Page 8-9 Case Study 4: Russia, Large Integrated Oil & Gas Company: TNK-BP.........................................................................Pages 10-11 The Costs Of Failing To...
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...for Value Chain Research Lehigh University, 621 Taylor Street, Bethlehem, PA 18015 E-mail: jos206@lehigh.edu Bob Bennett President Lean Consulting Associates, LLC, and Group Vice President (retired) Toyota Motor Sales USA, Inc. 16 Deerhill Drive Rolling Hills Estates, CA 90274 E-mail: bobben1@cox.net CVCR White Paper #0701 Abstract A business value chain is an end-to-end set of activities that can be applied to a product or service making it ready for the next activity. Most resources used in an activity add value—some do not. The resources consumed (such as people, time or equipment) that do not add value add cost and should be eliminated. This is the essence of the Toyota Production System, or Lean (the term used in the U.S. for what was originally known as the "Toyota Production System"). This article reviews the evolution of Lean principles from the beginning of Henry Ford’s revolutionary assembly line process for his Model T automobile in the early 1900’s, through Taiichi Ohno’s creation of the famous Toyota Production System in the mid-20th century, to adoption of these principles in addressing today’s logistics and transportation challenges. This paper presents real examples from executives who worked within the Toyota Production System and were effective in expanding these principles beyond the traditional manufacturing/ assembly environment. Lehigh University Center for Value Chain Research www.lehigh.edu/~inchain 1 Introduction Henry Ford said that “Quality...
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...But you’re the one who has to live with the contract, not me!” Static on the transatlantic telephone connection obscured Jean Fontaine’s reply. Kelsey asked him to repeat what he had said. “OK, OK, calm down, Jean. I can see your point of view. I appreciate the pressures you’re under. But I sure don’t like the looks of it from this end. Keep in touch—I’ll talk to you early next week. In the meantime, I will see what others at the office think about this turn of events.” Frank Kelsey hung up the phone. He sat pensively, staring out at the rain pounding on the window. “Poor Fontaine,” he muttered to himself. “He’s so anxious to please the customer, he’d feel compelled to give them the whole pie without getting his fair share of the dessert!” Kelsey cleaned and lit his pipe as he mentally reviewed the history of the negotiations. “My word,” he thought to himself, “we are getting completely taken in with this Reliant deal! And I can’t make Fontaine see it!” Background Pacific Oil Company was founded in 1902 as the Sweetwater Oil Company of Oklahoma City, Oklahoma. The founder of Sweetwater Oil, E.M. Hutchinson, pioneered a major oil strike in north central Oklahoma that touched off the Oklahoma “black gold” rush Source: Case prepared by Roy J. Lewicki. Although this case is over 20 years old, the editors of this volume believe that it presents valuable lessons about the negotiation process. Lewicki−Barry−Saunders: Negotiation: Readings, Exercises, and Cases...
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...9-399-150 REV: MAY 3, 2005 CHRISTOPHER A. BARTLETT MEG WOZNY GE's Two-Decade Transformation: Jack Welch's Leadership On September 7, 2001, Jack Welch stepped down as CEO of General Electric. The sense of pride he felt about the company's performance during the previous two decades seemed justified judging by the many accolades GE was receiving. For the third consecutive year, it had not only been named Fortune's "Most Admired Company in the United States," but also Financial Times' "Most Admired Company in the World." And, on the eve of his retirement, Fortune had named Welch "Manager of the Century" in recognition of his personal contribution to GE's outstanding 20 year record. Yet while the mood at GE's 2001 annual meeting had clearly been upbeat, some shareholders wondered whether anyone could sustain the blistering pace of change and growth characteristic of the Welch era. And specifically, many worried if any successor could generate the 23% per annum total shareholder return Welch had delivered in his two decades leading GE. It would be a tough act to follow. (See Exhibit 1 for financial summary of Welch’s era at GE.) The GE Heritage Founded in 1878 by Thomas Edison, General Electric grew from its early focus on the generation, distribution, and use of electric power to become, a hundred years later, one of the world’s leading diversified industrial companies. A century later, in addition to its core businesses in power generation, household appliances...
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...Dolan. OK, Jim. They’ve agreed to a meeting. We’ve got three days to resolve this thing. The question is, what approach should we take? How do we get them to accept our offer? Randall, president of Capital Mortgage Insurance Corporation (CMI), had called Dolan, his senior vice president and treasurer, into his office to help him plan their strategy for completing the acquisition of Corporate Transfer Services (CTS). The two men had begun informal discussions with the principal stockholders of the small employee relocation services company some four months earlier. Now, in late May 1979, they were developing the terms of a formal purchase offer and plotting their strategy for the final negotiations. The acquisition, if consummated, would be the first in CMI’s history. Furthermore, it represented a significant departure from the company’s present business. Randall and Dolan knew that the acquisition could have major implications, both for themselves and for the company they had revitalized over the past several years. Jim Dolan ignored Frank Randall’s intense look and gazed out the eighth-floor window overlooking Philadelphia’s Independence Square. That’s not an easy question, Frank. We know they’re still looking for a lot more money than we’re thinking about. But beyond that, the four partners have their own differences, and we need to think through just what they’re expecting. So I guess we’d better talk this one through pretty carefully. Company and Industry...
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...LARGE POWER TRANSFORMERS AND THE U.S. ELECTRIC GRID Infrastructure Security and Energy Restoration Office of Electricity Delivery and Energy Reliability U.S. Department of Energy April 2014 Update Large Power Transformers and the U.S. Electric Grid This page intentionally left blank. DOE / OE / ISER April 2014 ii Large Power Transformers and the U.S. Electric Grid FOR FURTHER INFORMATION This report was prepared by the Office of Electricity Delivery and Energy Reliability under the direction of Patricia Hoffman, Assistant Secretary, and William Bryan, Deputy Assistant Secretary. Specific questions about information in this report may be directed to Dr. Kenneth Friedman, Senior Policy Advisor (kenneth.friedman@hq.doe.gov). Tiffany Y. Choi of ICF International contributed to this report. The U.S. Department of Energy would like to acknowledge the following reviewers for their contribution to this report: ABB American Transmission Company Bartley, William H., Hartford Steam Boiler Inspection and Insurance Company, A member of the Munich Reinsurance Company North American Electrical Reliability Corporation Ontario Power Generation Scott, Daniel U.S. Department of Commerce U.S. Department of Homeland Security U.S. Federal Energy Regulatory Commission Cover photo sources: Large power transformer photo: Siemens.com High-voltage transmission lines photo: Utilities-me.com DOE / OE / ISER April 2014 iii Large Power Transformers...
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...9-399-150 REV: MAY 3, 2005 CHRISTOPHER A. BARTLETT MEG WOZNY GE's Two-Decade Transformation: Jack Welch's Leadership On September 7, 2001, Jack Welch stepped down as CEO of General Electric. The sense of pride he felt about the company's performance during the previous two decades seemed justified judging by the many accolades GE was receiving. For the third consecutive year, it had not only been named Fortune's "Most Admired Company in the United States," but also Financial Times' "Most Admired Company in the World." And, on the eve of his retirement, Fortune had named Welch "Manager of the Century" in recognition of his personal contribution to GE's outstanding 20 year record. Yet while the mood at GE's 2001 annual meeting had clearly been upbeat, some shareholders wondered whether anyone could sustain the blistering pace of change and growth characteristic of the Welch era. And specifically, many worried if any successor could generate the 23% per annum total shareholder return Welch had delivered in his two decades leading GE. It would be a tough act to follow. (See Exhibit 1 for financial summary of Welch’s era at GE.) The GE Heritage Founded in 1878 by Thomas Edison, General Electric grew from its early focus on the generation, distribution, and use of electric power to become, a hundred years later, one of the world’s leading diversified industrial companies. A century later, in addition to its core businesses in power generation, household appliances, and lighting...
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...Executive Summary Union Pacific is the largest freight railroad in North America. In 2007 they transported over one trillion ton-miles of freight earning revenues of $16.28 billion. They operate on 32,000 miles of rail covering the United States west of the Mississippi. Union Pacific is a successful firm both externally and organizationally. The Class I Freight Railroad industry encompasses the seven largest railroads in North America. In the U.S., where Union Pacific operates, Class I Freight Railroads move more than 40% of the freight transported per year, measured in ton-miles. The industry is in the maturity stage, experiencing slow consistent growth. For companies in this industry, it implies tightened operations and good human resource management are essential for success. The industry incumbents benefit from high barriers to entry due to the amount of capital requirements. Substitutes play a moderate role in the industry, while buyers and suppliers are on neutral ground with the railroads. Lastly, rivalry varies from area to area, but is average as a whole. This is shown in the analysis of captive versus noncaptive customers. Union Pacific mainly transports commodities in five primary industries; agriculture, automotive, chemical, energy, and industrial. These customers look for competitive pricing, on time delivery, and good customer service. In order to be successful in this industry, a railroad must have the resources to serve all the needs of these customers. Since...
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...4th Quarter 2010 | 25(4) THEME OVERVIEW: FUNDAMENTAL FORCES AFFECTING AGRIBUSINESS INDUSTRIES Kent Olson and Mike Boehlje JEL Classifications: Q13, L10, L22, M22, L80 Keywords: Agribusiness, Market Forces, Structural Change, Porter’s Five Forces Agribusiness industries are facing numerous challenges and opportunities resulting from various fundamental forces. An understanding of the forces that are shaping and shifting the competitive landscape is useful to not only understand the strategic positioning decisions of the firms in these industries, but also the dramatic structural changes that are occurring in the food production, processing and distribution sector. This series of articles discusses the fundamental forces creating change in the agribusiness industries, and how companies and decision-makers are being affected by, and adapting to, changes in these forces. We frame this discussion using the analytical concepts of value chains and Porter’s Five Forces. We describe the agribusiness value chain as two chains which become one at the consumer end (Figure 1). One value chain follows plants and plant products, and another chain follows animals and animal products. These two chains blend into one chain at the processing and retailing stages of the chain. We also view the value chain rather simply as four stages: (1) input suppliers; (2) producers; (3) processors and handlers; and (4) retailers. While the value chain could be viewed as specific for different products...
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