Product vs. Service Supply Chain Whether tangible products or intangible services, both manufacturing and service industries use different inventory strategies to deliver quality end results to consumers. Supplying a service or a product impacts forecasting and resourcing decisions in different ways. The objectives of the service industry remain similar to the manufacturing industry, fulfilling wants or demands of customers are impacted by the strategies that organizations choose to follow. In
Words: 956 - Pages: 4
The first step in devising an effective supply chain is to consider the nature of demand for your product. For this many aspects are important: Product life cycle, demand predictability, product variety etc. But any product can be broadly classified into as either a Functional Product or an Innovative Product based on their demand patterns. Root cause for ineffectiveness of any supply chain is the mismatch between the type of product and the type of supply chain. Functional Products are
Words: 1042 - Pages: 5
the best way to undertake this order while meeting the production needs of orders already in the pipeline as their current capacity is insufficient to meet the additional demands. To further complicate the situation, Kuiper's production planning, inventory tracking, and supply chain management systems are inadequate to meet the demands of increased production. Benchmarking strategies are excellent resources to appraise the decision that Kuiper Leda can make when having alternative solutions based
Words: 1371 - Pages: 6
Executive Summary We believe that the reason for the company’s shortage of funds is that most of its cash/funds are “tied” up in inventory and A/R, along with the fact that even though the company is having significant sales growth, it’s not been able to leverage the economies of scale by being able to reduce operating expenses or purchasing expenses (Total COGS). All of this is leading to significant needs for short term loans and the interest expense on these loans is only making the matters worse
Words: 3255 - Pages: 14
Business Plan for a Startup Business The business plan consists of a narrative and several financial worksheets. The narrative template is the body of the business plan. It contains more than 150 questions divided into several sections. Work through the sections in any order that you want, except for the Executive Summary, which should be done last. Skip any questions that do not apply to your type of business. When you are finished writing your first draft, you’ll have a collection of small essays
Words: 5066 - Pages: 21
AND WEAKNESS OF BGL Strength:- There is only one strength of Balochistan Glass Limited that current ratio is equal to bench mark.Balochistan glass is in the position to pay its current liability. Weakness:- Inventory turnover ratio:- BGL is holding too much inventory 586,522,000 and ratio is 1.997 but bench mark is 5.856 times. Day sales ratio:- First the collection department of BGL is not working well. Or Second is the sales of BGL are too low. Fixed assets turnover ratio:-
Words: 852 - Pages: 4
The objective of team A in this paper is to define and explain the inventory process at Riordan Manufacturing. This paper will explore the input, main action and output phases of this process. In addition, team A will discuss how this process promotes competition domestically and globally. Although most would agree that ISO certification is recommended, Riordan Mfg. has implemented a strategic process in their inventory and control department for receiving, processing and outsourcing their
Words: 311 - Pages: 2
There are a couple of reasons for Mr. Clarkson wanting to increase the amount of borrowing that would be needed to continue with his operations. One of the reason is that he wants to pay off Mr. Holtz in order for himself to become the primary owner of the company. Another reason for the need to borrow funds is that the net income was growing at a slower rate than the operating expenses. Between the years of 1993-1995 the net income only rose from 60k, 68k, 77k thousand respectively. The operating
Words: 565 - Pages: 3
FINC 340 Financial Management Homework Assignment I You can provide your answers by expanding the space between questions. You must show your work and/or explain your answers sufficiently to get credit. Points for each question are the same. Chapter 01 1. What is the goal of the firm? Explain. Ans: A firm’s goals usually include (1) stockholder wealth maximization, (2) profit maximization, (3) Managerial reward maximization, (4) behavioral goals, and (5) social responsibility
Words: 2067 - Pages: 9
a week. The major challenges that Rick faces include: • Change from responsive to anticipatory model of production. • Increase inventory turns from present 4 times to 20 times. • Eliminate material shortages and stock outs. • Reduce cost of purchased goods by 10%. • Reduce custom lead time from 14 weeks to 6 weeks. • Eliminate discrepancies with inventory records. • Keep-up with the increased competition in the industry. Analysis of key issues & options • Interpretation of new corporate
Words: 2190 - Pages: 9
