Parts emporium case study, solutions and answers - Free Essay Example

Sample details Pages: 4 Words: 1316 Downloads: 2 Date added: 2017/06/26 Category Marketing Essay Type Analytical essay Did you like this example? Case Parts Emporium Methodology Briefing 3 Inventory Analysis 5 This Report has been prepared in response to the warehouse inventory situation as appraised to me by Joe Donnell. In assessing the situation, I have found that the installation of a computer model for ordering projection will alleviate out of stock as well as overstock situations. Additionally, the preceding will need to be augmented by physical hand counts on a periodic basis to ensure that the physical inventory matches the computer ordering system counts. Don’t waste time! Our writers will create an original "Parts emporium case study, solutions and answers" essay for you Create order In addressing the present situation, I took a count of parts EG151 and DB032 as a sample in order to assess an actual inventory. That analysis as well as the subsequent recommendations are based upon the preceding, which will also work for the remaining warehoused parts after a physical count is established to enable me to pattern a computer modeling system for each item. The foregoing physical count, and periodic count follow up is a necessary part of the system in order to ensure that the numbers match, and to address count differences to keep the inventories in line with ordering procedures. In conducting my analysis, it was determined that the depletion rates for the two parts followed a consistent pattern, thus far. That analysis was based upon the sales rate; therefore, in order to maintain an accurate ordering program, daily sales information on all parts will need to be forwarded to me for monitoring so that if depletion rates change, I can adjust the ordering program vari ables. The following represents the results of the inventory analysis, and subsequent recommendations. Methodology Briefing In analyzing the problem, I referred to methodologies and techniques from the following sources Dalleck and Fetter (1961) à ¢Ã¢â€š ¬Ã…“Decision Models for Inventory Managementà ¢Ã¢â€š ¬Ã‚ , Brauner et al (2001) à ¢Ã¢â€š ¬Ã…“Velocity Management: The Business Paradigm That Has Transformed U.S. Army Logisticsà ¢Ã¢â€š ¬Ã‚ , Epps (1995) à ¢Ã¢â€š ¬Ã…“Just-in-Tine Inventory Management: Implementation of a Successful Programà ¢Ã¢â€š ¬Ã‚ , and Debnam et al (1992) à ¢Ã¢â€š ¬Ã…“Inventory Analysis for Generation, Transmission and Distribution Cooperatives of the Rural Electric Systemà ¢Ã¢â€š ¬Ã‚ . The preceding has been included here to aid you in your analysis of the findings, and recommendations made herein. The situation here at Case Part Emporium entails a mixture of solutions, thus my referral to the preceding material. Dallack and Fett er (1961, p. 8) provided the basis for à ¢Ã¢â€š ¬Ã…“à ¢Ã¢â€š ¬Ã‚ ¦ inventory planning and control when stockkeeping involves: (1) planning and control on an item-by-item basis, (2) variable demand and/ or variable lead time, (3) either continuous review or review at fixed intervals and (4) unfulfilled demand either back ordered or lost. The decision variables of interest are the reorder point and the order quantity for each item in the set of stockkeeping unitsà ¢Ã¢â€š ¬Ã‚ . Please note, since I have not equated all of the parts, there might be some subject to variable demand, and lead times, thus my inclusion of this methodology. Brauner et al (2001. p. 17) was utilized as supply entails à ¢Ã¢â€š ¬Ã…“ getting the right thing to the right place at the right time à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚  and the applicability of U.S. Army delivery systems is predicated upon ensuring delivery in unpredictable situations. This reference source aided in defining the process for the par ts utilised in this analysis as well as having a flexible program parameter to handle the potentially differing variables that most surely will crop up in other situations. Brauner et al (2001, p. 18) refer to the Velocity Management process as à ¢Ã¢â€š ¬Ã…“à ¢Ã¢â€š ¬Ã‚ ¦improvement methodology, aims at producing a clear picture of the order fulfilment process that is common to all participants and stakeholdersà ¢Ã¢â€š ¬Ã‚ . The foregoing will be illustrated through the Excel Spreadsheet attachment that shows the methodology utilized. Epps (1995) provided the foundation for minimized inventory under the concept of à ¢Ã¢â€š ¬Ã…“Just-in-Time Inventory Managementà ¢Ã¢â€š ¬Ã‚  which was pioneered by the Toyota Motors Company. The process is based upon a à ¢Ã¢â€š ¬Ã…“à ¢Ã¢â€š ¬Ã‚ ¦philosophy that seeks to do the process right the first time and to eliminate any non-value added activitiesà ¢Ã¢â€š ¬Ã‚ . And finally, Debnam et alà ¢Ã¢â€š ¬Ã¢â€ž ¢s article (1992) was sel ected, even though the field of application, electricity, does not seemingly have applicability here, but it referred to à ¢Ã¢â€š ¬Ã…“Each cooperative participant may be subject to unique conditions, yet is faced with the same fundamental problemthe means by which to evaluate inventory decisions and the cost-effectiveness of decisions made in regard to acquisition and retention of suppliesà ¢Ã¢â€š ¬Ã‚ . In the instance of our company, the word à ¢Ã¢â€š ¬Ã…“cooperativeà ¢Ã¢â€š ¬Ã‚  was replaced with unit parts, thus the applicability to our situation. Inventory Analysis In analyzing the inventory for items EG151 and DB032, I broke down the process into a synthesis chart that enabled me to construct the computer Excel model that is attached. Said chart represented the following key variables: Chart 1 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Case Parts Emporium Inventory Synthesis Variable EG151 DB032 Customer Price $12.99 $8.89 Gross Margin 32% 48% Order Price $4.13 $4.27 Order Charge $20 $10 Flat Fee Delivery $21.40 $21.40 Delivery Time Frame 2 weeks 3 weeks Lot Size 150 1,000 Estimated Depletion Rate 17 per day 54 per week The preceding were broken down into an Excel Model that utilized à ¢Ã¢â€š ¬Ã‹Å"Hypotheticalà ¢Ã¢â€š ¬Ã¢â€ž ¢ as well as à ¢Ã¢â€š ¬Ã‹Å"Actualà ¢Ã¢â€š ¬Ã¢â€ž ¢ inventory situations to provide a picture of the methodology, and to construct the Ordering point scenarios. As shown on the attached Excel Spreadsheets the ordering time frame delay for the EG151 was calculated as six days, with the depletion rate of ordered lots of 150 units taking 9 days. This meant that under the present rate of depletion, orders for replenishment had to be placed far enough in advance to ensure new parts delivery before an out of stock situation. In running the model, I utilized the depletion rate to calculate the order points, which are indicated by à ¢Ã¢â€š ¬Ã‹Å"Filledà ¢Ã¢â€š ¬Ã¢â€ž ¢ followed by a number that signifies the day (in the case of part DB032 a weekly time frame was utilized as a result of the larger lot size). As shown on the Excel model, the in stock depletion runs down to an estima ted 32 units on hand before the new inventory arrives, thus maintaining sufficient supplies. Chart 2- Excel Model Examples In the instance of part DB032, the larger lot size necessitated utilizing a weekly format. In the instance of inventory depletion, the on hand count dropped to an average of 80 units before the replenishment supply arrives. The other program parameters are thus the same and can be utilised in your review. Conclusion and Recommendations In analyzing the parts utilized in this examination I took into account the variable concerning the flat fee delivery charge of $21.40, and suggest that we should not include this in a new pricing scheme as such penalizes those customers who pick up their orders and will thus notice the price increase. Adding in the flat fee delivery charges across the board thus was not computed in any of the variables for that reason. I did not utilize the in-house ordering administrative charges in the models, as that is an accounting function that has already been included in the pricing. In addition, I examined the lot sizes and would al so like to suggest if we might convince the Bendox Corporation to provide us with a lot size of 500 units, as this reduced ordering unit would be more consistent with our utilisation rate. In any event, I prepared Excel Spreadsheet models for both variables in a à ¢Ã¢â€š ¬Ã‹Å"Hypotheticalà ¢Ã¢â€š ¬Ã¢â€ž ¢ as well as à ¢Ã¢â€š ¬Ã‹Å"Actualà ¢Ã¢â€š ¬Ã¢â€ž ¢ usage mode. As out of stock does not represent a desirable business situation for us, I would appreciate your comments on the prepared material. If positive, I will immediately proceed to conduct an analysis of all parts, and the variables associated with them in order to construct similar computer models for analysis, and recommendation. Brauner, M., Dumond, J., Eden, R., Folkson, J., Girardini, K., Keyser, D., Peltz, E., Pint, E., Wang, M. (2001) Velocity Management: The Business Paradigm That Has Transformed U.S. Army Logistics. Rand, Santa Monica, CA, United States Dalleck, W., Fetter, R. (1961) Decision Models for I nventory Management. Richard D. Irwin, Inc., Homewood, IL, United States Debnam, D., Hall, B., Lovas, T., Miller, T. (1992) Inventory Analysis for Generation, Transmission and Distribution Cooperatives of the Rural Electric System. Vol. 33. Management Quarterly Epps, R. (1995) Just-in-Tine Inventory Management: Implementation of a Successful Program. Vol. 17. Review of Business

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DermaCare - 10958 Words

For the exclusive use of R. van Munster, 2015. 9-808-064 REV: OCTOBER 21, 2010 PRICHARD G. HAMERMESH LAUREN BARLEY DeermaCa are: Zap pping Zits Z Dirrectly It was w a rainy Saturday S morrning in late November N 20005, and Peteer Scocimara pulled p on hiss Croc shoes to take his rambunctiou us golden rettriever Jasperr for a walk. Walking thee dog would d give Scocim mara some much-needed m time to clearr his head an nd prepare fo or a Monday y-morning meeeting with the cofounders of his co ompany, DerrmaCare, Incc. Headquarteered in Liveermore, California, Derm maCare was a start-up ven nture that plaanned to marrket its Therm maClear acnee-treatment device d directtly to consum mers using direect response television t (DR RTV).†¦show more content†¦There were many forms of acne, ranging from blackheads, whiteheads, and pimples to severe forms such as cystic or modular acne. Da Silva, whose scientific background was with lasers, had seen dermatologists use laser technologies in the treatment of mild to moderate inflammatory acne, most commonly referred to as â€Å"pimples,† â€Å"breakouts,† â€Å"blemishes,† or â€Å"zits.† Choi summarized the science behind the laser treatments: Lasers treat acne in two possible ways. At certain wavelengths—or colors—lasers go into the skin tissue and generate oxygen radicals, which kill the bacteria and reduce inflammation. At other wavelengths, lasers are basically heat sources that reduce sebum [an oily substance produced by certain skin glands] production by killing and reducing the number of sebaceous glands. This decreases the likelihood that excess sebum clogs pores, which can lead to acne. 2 This document is authorized for use only by Rachel van Munster in Entrepreneurial Law and Finance taught by Rafael P. Ribas, at HE OTHER from February 2015 to March 2015. For the exclusive use of R. van Munster, 2015. DermaCare: Zapping Zits Directly 808-064 However, a laser was an expensive solution for treating acne. Da Silva and Choi believed they could replace a laser, which cost between $20,000 and $50,000, with a $5 to $10 heater using a thinfilm resistor (a thin piece of metal that converts electrical current intoShow MoreRelatedVenture Capital and Low Cost Production Essay638 Words   |  3 PagesDermaCare has the potential of a successful business. They have taken several steps in the right direction so far by obtaining patents that protect their intellectual property both for sale through DRTV and the retail market and sourcing for low cost production costs. In addition, there are no obvious loopholes in their business model. They have a proven product that provides a solution to a large market of dissatisfied customers. Also, they are maintaining 400% margins by selling through infomercialsRead MoreVenture Capital and Tech Coast Angels9915 Words   |  40 Pagesschool class mer s smate Charle Moldow w a es was partner. The VC’s term sheet offered the com mpany $4.0 m million in fun nding, assumi a $7.65 m ing million postfi inancing valu uation. Moldo structured the proposed deal so that DermaCare w ow d d t would receiv $1.0 ve millio up front an the remain on nd nder after the Food and D e Drug Adminis stration (FDA gave Derma A) aCare cleara ance to marke its acne dev et vice. Scocimara was in a quandary. The angel andRead MoreRR Case8502 Words   |  35 PagesOwner/Employees VC Owner/Employees 5.00 7.50 10.00 20.00 25.00 30.00 35.00 40.00 60.00 100.00 200.00 240.00 500.00 P a g e | 27 PunchTab 1. What is your evaluation of PunchTab’s business? Is it an attractive investment opportunity? Do you think DermaCare will be successful? Why or why not? 2. Do you think it makes sense to do a seed round of financing? Why or Why Not? 3. What are the relevant differences between angels and venture capital investors that Ranjith Kumaran should consider when raising

5G Network The Next Phenomenon

Question: Describe about the 5G Network, the Next Phenomenon? Answer: Executive Summary The paper focuses on the opportunities and research challenges on 5G spectrums on mobile data and broadband networks. Various challenges are highlighted on the acceptability and other factors based on Singapore population. The research work makes a quantitative analysis on total 50 independent citizens of Singapore, with the objective to find out what the general population with age group between 15-60, both male and female with various occupations have a say on 5G spectrums. Based on the research outcomes the recommendations and findings suggest that the scope and expected year of 5G spectrum in Singapore is favorable in the market. Singapore being a Tech-savvy country makes it easier for further scope in 5G. Introduction 5G is a concept in this era. Networks are more oriented towards increasing the data speeds and coverage but without any standard limitations (Jain, 2013). The 4g spectrum is presently the current phenomenon of highest bandwidth. So long the substantial level of growth in capabilities and performance is offered by 4G, the International Telecommunication Union helps to access over 4G band widths. 5G is just the upgraded version of 4G with facilities that over-advances 4G users. Product Details: With the help of 5G network speed people can browse the network with a very high speed. It leads browsing, uploading, downloading functions to a much faster transferring. This is a big benefit for technologically advanced gadget users (Tehrani, Uysal Yanikomeroglu, 2014). The users get the advantage of uninterrupted connectivity especially for conferences, internet calling and video chats. The young generation has the benefit to watch and download videos, music and movies and a quick access on sharing every sort of information online. Compared to wifi connectivity, the 5G doesnt depend on hotspot (until and unless it is a wifi country like Singapore. These are few of the advantages of 4G; imagine 5G promises something more than that. Some of the features of 5G are discussed below: For tens and thousands of users, the data rates of around several 10 mb/s can be supported by approximately ten thousand users. Ten workers of an office will be able to have 1 GB of access simultaneously. A significant enhancement in case of spectral efficiency. Research objective: Whether people are sufficiently aware of 5G spectrum Whether the introduction of 5G will bring a change in standard of life Whether 5G would affect the political, environmental, economic and social aspects of Singapore. Whether the proposed cost of 5G becomes a big criterion of low/ high acceptability. Whether the consumers are ready to accept 5G over 4G. Whether Singapore market is ready for accepting 5G spectrum and the market accessibility of 5G. Research Methodology The research methodology is the process of focusing on the problem task of the research being undertaken and finding a solution to the problem. The company is deciding to launch a new product in Singapore. The key problem in hand is that weather the service will be successful or not. The acceptance of the product is under our study. Research design The information is collected about the acceptability of the 5G network in Singapore. The success of the network after its launch is made in the market. The information collected for this purpose is by interviewing the people on the basis of the questionnaire and by face to face interactions. Fishbone diagram The fishbone diagram is also called the Ishikawa Diagram or the cause and effect diagram. With the help of this diagram, the causes of a problem are identified. With the help of this diagram the ideas can be sorted into categories. Moreover it is used when the thinking of the team is likely to fall. The diagram is in general deals with methods, people, measurement, machines, materials and environment. The method is involved with how the task is performed (Wealleans, 2001). The person is one who is occupied with the process. Measurement is the evaluation of the quality of the data being generated from the process. Any equipment used in the process are categorized under the machines. Environment is the conditions, including time in which the research is performed. Figure 1: the fish bone diagram. Questionnaire design The questionnaire designed is the next layer of the research methodology. For this purpose, both qualitative analysis and quantitative analysis is done. The quantitative analysis is done by using close ended questionnaire and the qualitative analysis is done by using the open ended questionnaire. The scale used in this research is nominal and likert. Sampling plan Sampling is the third layer in the research methodology. In this research we used a simple random sampling procedure. This method was used so as to include a large population which will minimize the error in the sampling process. Moreover convenient sampling is done since the target sample is large. The analysis is done on 50 samples of which 100% of them have replied and participated. The participants were both men and women who were students, working professionals, and retired personnel. Methods of data collection and analysis The data were mainly primary data which was collected by personal interview method. Questionnaires were supplied to the sample population and self administered study was carried out for collecting the data. Limitations While conducting the research there were certain limitations that were encountered. The first limitation of the study was that sufficient time was not there to gather an in detailed information. Moreover the whole research was based on primary data. A study on secondary data would have been more helpful for the project. Lastly the responses made by the sample population were not always loyal to the study. Findings and analysis: Question 1: 5G spectrums will be costlier. Likert scale range Number of respondents Frequency percentage (1) 2 4 (2) 7 14 (3) 15 30 (4) 20 40 (5) 6 12 Table 1 Figure2: the cost effectiveness of 5G From the first question we try to find what people think about the cost of 5G. 26 people either agree or disagree that the cost will be high whereas 9 people think that it will not be high. And others are not sure about the price. Thus it can be seen that if cost is too high then people might have problem accepting it. But other features need to be good for people to accept it. Table 2 Question 2: It will have more coverage area. Likert scale range Number of respondents Frequency percentage (1) 4 8 (2) 8 16 (3) 12 32 (4) 16 24 (5) 10 20 Figure 3: the coverage area response. In the above question was whether the 5G network will have a more coverage area. From the responses of the people we can see that about 8 percent and 16 percent of the respondents either strongly disagreed or disagreed that the 5G will have a more coverage area. But a greater percentage of people or the respondents think that it will have a wider coverage area than 4G. From the above analysis it can be concluded that if 5G is launched, then it will have a positive effect on the people, and will lead to the overall success of the people. Table 3 Question 3: 5G will be faster than 4G Likert scale range Number of respondents Frequency percentage (1) 4 8 (2) 10 20 (3) 8 16 (4) 20 40 (5) 8 16 Figure 4: the comparison between 5G and 4G The next area of study is whether 5G will be faster than 4G. Currently 4G offers a speed of about 30-40 mbps download speed. It is expected that 5G will have more speed than that. But according to the study conducted it is seen that, out of 50 respondents it 14 have suggested that it will not be faster than the current 4G spectrum. But a large number of the respondent about 28 out of 50 feel that 5G will be faster than the 4G spectrum and will resolve the problems of the 4G in terms of speed. From the above it can be concluded that if 5G is introduced it will be a success since people will indulge in it if it is faster. Question4: 5G will improve the communication process. Likert scale range Number of respondents Frequency percentage (1) 8 16 (2) 6 12 (3) 16 32 (4) 14 28 (5) 6 12 Table 4 Figure 5: 5G communication process acceptability rate. The next question that was examined was whether 5G will improve the communication process and be convenient for the people. From the above study that was conducted, it is seen that out of 50 respondents, 16 have said that they are not sure whether the communication process will improve. It is also seen that 20 person either agree or strongly agree that 5G will improve the communication process. Whereas 8 people strongly disagree that it will improve the communication process. From this we can say that most people strongly believe that it will improve the communication process and convenience and which in turn will lead to its success. Table 5 Question5: You would shift to 5G over 4G Likert scale range Number of respondents Frequency percentage (1) 5 10 (2) 8 16 (3) 10 20 (4) 14 28 (5) 13 26 Figure 6: peoples response in adopting 5G The last object of studying is whether the customer will be satisfied with the 5G spectrum and whether they will shift from 4G to 5G. It is seen from the above study that more than half of the respondent that is 27 of them either agree or strongly agree that they will shift to 5G when it is introduced in the market. 10 respondents are not sure but will think about when it is launched. The rest thinks that it will be not much effective than 4G thus they will not shift. From this it can be concluded that the people will be satisfied with the new technology of 5G. Thus it can be said that the overall success rate of the 5G network depends on cost, speed, coverage, convenience and customer satisfaction. Here the dependent variable is the success rate of 5G network and the independent variables are the parameters mentioned above. We have measured whether the 5G network when launched in the market will be a success or a failure. We will analyze the findings according to the questionnaire set. The samples of 50 respondents were chosen randomly for the study using convenient sampling. The sample included male and female between the age group 15 and 60. It was seen that respondents think that it will be costlier. The other features makes it attractive like the speed, coverage, communication system thus, the people will be satisfied with it and in turn lead to the overall success of the network. Recommendations and Conclusions For Public-private partnership one of the main purposes is to use achieved results for Global Standardization to ensure the worldwide interoperable systems. The projects of PPP develop solutions with publicly obtainable interface conditions. It is very much important for 5G networks to find out what are the improvements that are required in context with the 4ps of marketing (Rhee, n.d.). This research work now focuses on the suggestions and proposal of 5G network. Product: products such as Massive Machine, Communications and Moving networks, Device to Device, Ultra Reliable, Massive MIMO and Ultra Dense Networks are expected to support the increase in the volume of mobile Data. Hence gadgets like PC, mobile, Tabs, laptops, printers will have the key to access 5G. But existing mobile and Smartphones are yet to be equipped to have the advantage of using 5G. Price: The chances of acceptability of 5G will be affected by the cost effectiveness of 5G.Hence 5G will have to compete with 4G as it is already a popular and people-friendly phenomenon. Place: In South Korea the Government has spend $1.5 Billion that will so make 5G networks rolling out around 2017 (the Guardian, 2014). In United States the 5G spectrum is most likely to be introduced around 2018 for trial basis. In Singapore it is expected around 2020. Promotion: 5G will require a huge amount of promotion. Singapore is a very techno Gadget oriented country having wifi connection throughout. It is the third ranking country in using e-Government keenness index (Parker, 2014), thus introduction of 5G will be necessary to promote amongst individuals otherwise the country is already among the top list to adopt 5G Spectrum. Further research opportunities: As the Smartphone device, the tabs and other similar devices are growing; there is an assumption that the data traffic is going to increase with 1000 fold by 2020. Even the capacity of existing mobile broadband will see an overload because of limited spectrum availability. The current spectrums of technology becomes fragmented with the increase is use of advanced technology. So far for the use of broadband systems in mobile, the spectrum of mm-wave has not been leveraged effectively (Law, Podolskiy Wasserman, 2013). The potential deployment scenarios of mm-wave technology have been assumed to be limited in line of sight atmosphere of low mobility to reduce the series of point-to-point communication. Rather than optimizing the efficiency of link in 4G, the 5G network has transferred towards efficiency of overall network. In heterogeneous networks and multinational transceivers the spectrum is identified as one of the key components to increase the efficiency of networks. The world is already undergoing through the advancements of various technological sea-change. Definitely 5G is set to fulfill the requirement of corporations and consumers with a sustainability based on 4Gs infrastructure. References Jain, T. (2013). Technology Advancement In Wireless Communication.INTERNATIONAL JOURNAL OF SCIENTIFIC TECHNOLOGY RESEARCH VOLUME 2. Law, S., Podolskiy, V., Wasserman, D. (2013). Towards nano-scale photonics with micro-scale photons: the opportunities and challenges of mid-infrared plasmonics.Nanophotonics,2(2). doi:10.1515/nanoph-2012-0027 Parker, T. (2014). China, South Korea commit to 5G leadership, while Japan and U.S. rely on private efforts.Fierce Wireless Tech. Rhee, M.Wireless mobile internet security. Tehrani, M., Uysal, M., Yanikomeroglu, H. (2014). Device-to-device communication in 5G cellular networks: challenges, solutions, and future directions.IEEE Communications Magazine,52(5), 86-92. doi:10.1109/mcom.2014.6815897 the Guardian,. (2014).The 5G network: when will it launch and what will it mean for consumers?. Retrieved 15 February 2015, from https://www.theguardian.com/media-network/media-network-blog/2014/aug/26/5g-network-launch-mobile-consumers-connectivity-download Wealleans, D. (2001).The organizational measurement manual. Aldershot, Hampshire, England: Gower. Appendix Questionnaire Name:______________________________ Age: ______________________________ Occupation:______________________________ Sex: ______________________________ Questions Strongly Disagree (1) Disagree (2) Neither Agree Nor Disagree (3) Agree (4) Strongly Agree (5) 1. 5G spectrum will be costlier. 2. It will have more coverage area. 3. 5G will be faster than 4G and will resolve the drawbacks of 4G 4. 5G will improve the communication process. 5. You would shift to 5G over 4G and prefer to have 5G at my work place 6. The overall success rate of 5G will be high