Paper On Production And Cost Analysis - Free Essay Example

Production and Cost Analysis Please read this article and answer the questions keeping in mind the information we have covered in the textbook: Fundamentals of Managerial Economics by Mark Hirschey (at least a good paragraph for each question) Article #1: Supersizing Hits Freight World By JENNIFER LEVITZ AUGUST 15, 2010, The Wall Street Journal When Kraft Foods Inc. packs trucks with weighty items such as jars of Miracle Whip and pouches of Capri Sun juice, 40% of the rigs must leave the loading dock partly empty to avoid exceeding federal truck weight limits. Kraft says those rules force it and others to make extra trips and spend more on fuel. Now, the Illinois food giant is part of a coalition of 150 companies lobbying Congress to allow trucks that are 20% heavier on U. S. highways. Supporters of the idea say truckers could pay an extra fee to offset road repairs. Some 19 Western governors wants Congress to allow for more giant trailers, like this triple tractor trailer. There is an arms race of sorts in the shipping industry—and it is prompting a backlash. Efforts are under way to supersize trucks, trains, and cargo ships as freight haulers look to move more goods in fewer trips. Driving the trend are rising fuel costs, an emphasis on reducing carbon footprints and capacity constraints created during the recession as freight movers scaled down, said Paul Bingham, managing director of transportation markets for the research firm IHS Global Insights. Road-safety officials say rigs are big enough now. Its insane, said Deputy Chris Rizzo, a truck inspector for Loudon County, Va. , of efforts to increase the weight limits set by Congress in 1974. I can actually feel bridges bouncing up and down when trucks go over them, he said. The heavier the truck, the more the bridge bounces. Earlier this year, California safety regulators were alarmed when a record-setting, 3. 4-mile train—two to three times the length of a typical freight train— rolled through Southern California. Witnesses dubbed it the monster train and posted videos online. It turned out to be a test by Union Pacific Corp. , which increased the length of its intermodal trains 15% in the first quarter, and was experimenting with an even longer train. Richard Clark, director of safety for the California Public Utilities Commission, said there was no otice of the experimental train, and the agency didnt realize it would be that long. We were surprised, he said. Longer trains raise concerns about blocked rail crossings, especially when emergency vehicles need to cross tracks, and about whether trains can safely make turns, he said. A Union Pacific spokesman said the company did make required federal notifications but in hindsight, we probably should have made the courtesy call to state agencies also. Union Pacific said the ultra-long train was a one-time test. But in an April earnings conference call, a company official said Union Pacific believes it can increase its average train length by another 10% to 15% in an effort to reduce fuel use and emissions as well as wear and tear on its tracks. Other railroads, including CSX Corp. , and BNSF Railway Co. , have also been running longer trains to improve efficiencies, these companies said. The big rigs that cruise the nations roadways may be getting not only heavier but longer. Separately from the companies that are pushing for higher weights, which include Kraft, Coca-Cola Co. and MillerCoors, a group of 19 Western governors are lobbying Congress to allow for more doubles and triples—multiple trailers hitched together than can span up to 120 feet—on Western highways. Currently, most interstates allow rigs no longer than 53 feet. In general, states can individually set limits on truck size and weight on state roads, but not for federal highways. The Western Governors Association says longer trucks would make it easier to haul goods across vast distances in the West, which could benefit the region economically. Doubles and triples typically have to bypass federal roads and stick to state roads, sometimes forcing them to take longer routes to their destination. The governors group estimates that miles traveled by heavy trucks could be cut by 25% with the use of more combos. Meanwhile, new cargo vessels as long as three football fields now ply the oceans and are expected to be frequent visitors to Eastern U. S. ports starting in 2014, with the completion of the widening of the Panama Canal, the primary shipping conduit between Asia and the East Coast. They are almost 25% longer and 35% wider than todays ships that use Eastern ports. Ports such as Savannah, Ga. , are starting to deepen channels in preparation, though residents arent as eager. Horrifying, really, really horrifying, Toby Bronstein, a retired advertising executive who lives in Caswell Beach, N. C. , said of the ships. They defy the imagination in terms of their size. Ms. Bronstein a nd other residents say the giant ships could change the character of coastal towns that rely on tourism. Ms. Bronstein and neighbors in coastal North Carolina recently successfully fought a megaport proposed for Southport, a city of 2,500 people. The North Carolina Ports Authority is now seeking another site for a $2 billion port big enough for the new ships. Congress this fall may considering changing the law that since 1974 has limited trucks to 80,000 pounds on interstate highways. A bill proposed by Rep. Michael Michaud (D. , Maine) would allow states to raise that limit to 97,000 pounds on interstates for trucks that have a sixth axle to compensate for the extra weight. The measure, which has an identical bill in the Senate, may be considered as part of Congresss reauthorization of the multiyear, $286. 5 billion surface transportation law whose funding ends Dec. 31. Under the higher weight limits, Kraft could load trucks more fully, reducing trucks used by 6%, saving 6. 6 million gallons of fuel and eliminating 73,000 tons of carbon dioxide emissions annually, said Harry Haney, Krafts associate director of transportation planning. MillerCoors says it could transport 1. 31 million barrels of beer weekly on 7,420 trucks, a 25% reduction in rigs. Supporters say Canada, Mexico and countries in Europe adopted higher weight limits without ill effects. Among opponents are survivors of the 2007 Minneapolis bridge collapse, public-safety officials and some truckers. The Owner-Operator Independent Drivers Association, whose members are concerned they would be forced to buy costly new rigs, said the stability of a rig is substantially reduced on bigger and heavier trucks. Railroads also are working against higher weight limits since bigger trucks could take business. Sen. Frank Lautenberg (D. , N. J. ) and Rep Jim McGovern (D. Mass. ) have filed legislation to ban bigger and heavier trucks. Jane Mathis of the Truck Safety Coalition, an Arlington, Va. , gro up comprising truck-crash survivors and victims families, said her son and his wife were killed by a tractor-trailer that crashed into their car. We dont need bigger trucks; we need safer trucks, she said in a statement supporting Sen. Lautenbergs bill. Questions: QUESTIONS: 1. Describe the trends in the trucking industry. What are the factors driving these trends? 2. Companies often use large batch sizes to achieve economies of scale. List the expenses that are reduced or removed by using large trucks. What are the expenses throughout the supply chain that are increased by using a large truck? Include expenses mentioned in the article, as well as other expenses that you suspect will be increased. 3. The article highlights the struggle between size and flexibility. Describe the trade-off between the size of a shipment and operations flexibility. Why is this important? Can this trade-off be quantified? How? 4. What impact might a large shipment have on quality? What about these large warehouses might make quality worse? Better? Why? 5. Is there a break-even point for the size of these trucks where the investment is not cost justified? Refer to the textbook, how would you set up an equation to calculate this break-even point? 6. The article provides an opportunity to discuss the waste involved in using large batch sizes. What is the waste that is introduced by having large batch size? How is this waste increased as the batch size becomes larger? What strategies might a manufacturer utilize to minimize or optimize batch sizes? Evaluate your own operation based on the business you are familiar with. What portions of your operation have grown so large that waste is inevitable? How can you reduce the waste in this portion of your operation? ***************************************************************************** In addition to these questions, please provide a 2-4 page Market Structure Analysis (https://www. oup. com/uk/orc/bin/9780199296378/01student/ additional/page_11. htm) for . Remember to discuss all relevant economic issues. Please cite all sources.

Wedding Planner Thesis - 3134 Words

CHAPTER 1 Rationale of the Study According to Toon van Beeck and George Van Horn (senior analysts in IBISWorld), the wedding business is a key revenue contributor to a diverse mix of local businesses. Weddings are customized, and therefore not prone to efficiency, and they often occur on an irregular timeline. In the face of rising demands for wedding planners, it is important to investigate one of the wedding businesses here in our country. While businesses normally experiences threats, the study was conducted to determine the solution of the business in responding to those threats. In lieu to that, this would help us researchers be cognizant to how a particular business operates and how they value customer relationships. Statement of†¦show more content†¦Another article excerpt compiled by Ellen Terrell entitled â€Å"Wedding Industry Research† states that the wedding industry is a large industry and it entails lots of reasons. First, it is made up of multiple smaller enterprises like caterers, wedding consultants, dresses, various beauty suppliers (hair, makeup), photographers, favors/bridesmaids gifts, music, honeymoon related, etc. Second, many of the smaller components like caterers, DJs, and photographers, wedding favors, invitations, etc. also do other events without necessarily breaking their business down into wedding versus non-wedding. And third, because some of the individuals and businesses that provide services and products may only work part-time on wedding-related services to supplement their income or out of friendship, there will either be a minimal charge or no charge at all. She added that services included in the said industry are: Dresses, Consultants, Food, Video graphy, Disc Jockey, Favors/Bridesmaid Gifts, and Destination Weddings. Competitor Analysis Existing Competitors: Debuts and I do’s - is an event planning company that provides hassle-free packages and event planner services for weddings, debuts and other social events in Cebu, Bohol, Tagaytay and Manila. Fame’s wedding Concepts and Events – they specialize not onlyShow MoreRelatedAn Enduring Challenge For The World Class Education System3315 Words   |  14 Pageswill provide the outcome of a respected standard of scientific methods. 3.1 Research Philosophy Research philosophy is an uncomplicated way of questioning in order to gather, analyze and use the data (Crossan, 2003). The philosophy of this thesis will comprise both positivists and naturalist tools for obtaining information (Rubin Rubin , 2012). 3.1. A Positivists This research requires the use of quantitative tools that accentuate measuring the gathered data (Rubin Rubin , 2012). ThisRead MoreResearch Paper-Manila Hotel3275 Words   |  14 PagesI. 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Gaspar, Lady Lyn E. Lupango, Ernie Bacaran, Jerry Mar Gelizon in partial fulfillment of the requirementRead More3 finalest bossassbeatses Essay10655 Words   |  43 Pagesmight be left after the event. Mobile bartenders perform many of the same tasks as traditional bartenders, except they dont just work at one venue. They provide services at local events throughout the year, as well as smaller parties and affairs. Weddings, galas, fundraisers and grand openings are just a few types of events that mobile bartenders often work at. The researchers aim to assess the status of the mobile bar through profitability, service, and appearance. The researchers aims to assessRead MoreStrategic Marketing Management337596 Words   |  1351 Pagesmarketing performance âž ¡ To give full recognition to the problems of implementation and how these problems might be overcome. 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Academic PublishingRead MoreBusiness Strategies Of Tesco PLC24572 Words   |  99 Pagesconcurrently submitted in candidature for any degree. STATEMENT 1 This thesis is the result of my own investigations, except where otherwise stated. The correction services have been used, the extent and nature of the correction is clearly marked in a footnote(s). Other sources are acknowledged by footnotes giving explicit references. A bibliography is appended. STATEMENT 2 I hereby give consent for my thesis, if accepted, to be available for photocopying and for inter-library loan,Read MoreA Study on Retail Loans12064 Words   |  49 Pagesinstitute for banking and insurance for honoring the skills of existing professionals and initiating people in the trade. His place as a visionary and meticulous thinker will remain unfilled for a long time. He was a combination of philosopher, thinker, planner and sympathizer-qualities very few possess. 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In all, this was a two-foot-deep stack of reports and data. Lassiter was also unwilling to allow DMA to leave until he was given a detailed thesis on DMA’s capabilities and its software systems. After two weeks, and in time for the June 2009 Executive Committee meeting, Rankin reported that DMA had reviewed the information gathered on its fact-finding visit and had successfully analyzed

Poverty in Kenya, Africa - 868 Words

Poverty is one of the biggest problems that the world faces in present time. The poverty that takes place in more underdeveloped countries such as Kenya, Africa, is majorly affecting the citizens because of the diseases that are being spread throughout the entire state, the lack of medical supplies that is needed for each doctor, and unsanitary water and a very insufficient amount of food. The health and well being of the citizens of Kenya, Africa is horrific, many of the diseases that are spread are very severe which can sooner or later lead to death. With Kenya’s many water sources, Kenya has a high rate of water-borne diseases. Most of these water-borne diseases are not found in developed countries because of the sophisticated water†¦show more content†¦Although, rates of HIV and AIDS infection have slowed during recent years, it is still a major problem. Millions of families are impacted by these serious conditions and diseases making it hard for them. Either the government needs to help the citizens by investigating more into the problem and then help prevent it or more people are going to keep dying due to these severe diseases. A major factor in the recurring food crisis in Kenya, Africa is the lack of political will to make Kenya’s food more secure. Many of the reasons and causes of the food problem is the high prices which none of the Kenyans can afford and also their past president, Mwai Kibaki had failed to provide solutions to prevent for shortage and hunger. Instead famine and drought were declared as â€Å"national disasters† instead of the lack of food. Over ten million citizens of Kenya, Africa suffer from poor nutrition as well as persistent food insecurity. More then two million people require food assistance which is mostly always due to droughts and floorings that occur. Recently a conflict has occurred in east Africa, where Kenya is, and according to the United States World Food Programme, â€Å"the conflict h as driven hundred of thousands of people from their homes, adding a whole new layer of hardship in a country where many people were already struggling to find theirShow MoreRelatedHiv / Aids And Aids1472 Words   |  6 Pagessub-Saharan Africa. The damage caused by HIV/AIDS strips families, communities, and increases poverty. In Kenya, the plague has mainly targeted those in the fertile and reproductive age groups. 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I first passion was learning about the culture and various religions in central African and other regions on that continent. When it comes to risk factor, China and African has a lot going and against it due to the develop pollution that settles on this vast land. Risk is the ability to gain or lose something

Business Loyalty vs. Ethics

Question: Discuss about the Business Loyalty vs. Ethics. Answer: Conflicts of interest, personally experienced in personal or professional roles I work as a sale person in a retail store, where I have to sell things of the store to the people and once the things are being sold to the people, it is the rule of the store to not to return any item. I am well aware of this thing, and but there are few customers there, who offer me with extra money in the name of tip. In exchange, they want to return the thing that they have purchased and in this particular situation, I face the conflict of interest. Perceiving a potential conflict and the ways ensuring that this conflict does not lead to any unethical behaviour One of the most important ways to ensure that there is not any conflict is to follow the rules and regulation that is being laid by the organization. It is important to be straightforward and honest about the rules regulations that are being laid by the organizations, to the customers. It would help in arising less complicated situation and the customer too, understand that the responsibilities that needs to be carried out by a particular person. At times if taking decision or making a choice become a difficult thing then it is important to take the help of the superior, they could help in the best way possible (YouTube. 2016). Others conflicts of interest can affect how you or those you know were treated. In my retail store, a colleague of mine has a relationship, with one of the senior official of the organization. The particular relationship in his personal life had an effect on his professional life as well, because he was rewarded, even though the work carried out by him is equal or even at time inferior to us. The other employees too have to face this discrimination, which created resentment among them. Policies that the organizations could implement to try to reduce conflicts of interest or costs The organization could implement policies such as breach of trust, for those people, who utilize or rather, exploit their position and provide some advantages to the people (Thomas 2016). In such a case, legal action should be taken against those employees and this will reduce unethical things in the organization for fulfilling their interest (Drexler 2012). Personal Experience I had a group of friends during my school days and most of them, and in fact, all of them were shopaholic except for me. I remembered a time when my financial conditions were not that pleasant, at least for me, and spending money for shopping would be a luxury for me at that time. Still, to be in that group I had to shop and I had to confirm to other peoples notion. Yes, I regret about that today because I feel like that if I would not have done that then I would have probably save money for my future, for something that is fruitful for my career, and at the same time, I would have supported my parents as well. Cheating is Contagious There are certain incidents that come up every day or rather almost every day, which proves that cheating is there on every level of society. Even in the marital relationship, there are certain incidents, which provide us with a shock, because we do not except these things from a particular person. Slowly, we find out that it is the result of what is happening outside around, in the friend circle is affecting these people. Therefore, it can be said that the thing at times sounds true and it sounds true mainly because those people, who try to confirm to their friends and to that group where they belong, practice these things. Balancing Loyalty and Ethical Integrity It is true that it is difficult to choose between ethics and loyalty, and most of the time when people have to choose between these two things, the best thing that they should do is, go by the definition of loyalty. The definition of loyalty refers to the fact that a person can be loyal either to another person or to a cause (Amanet.org. 2010). Thus, although, it is difficult and need great strength to fight the friends one should try to fight for the goods of their friends and be loyal to the cause and not to anyone else (YouTube. 2016). Groupthink "Groupthink is something that occurs if there is any kind of pressure within a group, and the pressure allows an individual to confirm to those facts, even if that is unethical (Janis 2015). Yes, I have been subject to groupthink, when I for the first time, am enrolled myself in the college. During that time friends were often into drinking and I am someone who does not like drinking that much, although, I confirm to the group and drank with them, for which I regret now. Ethical Fading Ethical fading is a mechanism, where the intuition, sub conscious as well as self-deception help in disregarding the moral component or the ethical component of a particular action (Ethical Leadership from Andrew Leigh. 2016). Most of the time the ethical decisions are taking emotionally, but in case of ethical fading there is cognitive rationalization (YouTube. 2016). I myself has faced such a situation in my life when one day, I saw the pictures of child labour and the workers condition of people working in the factory of Nike, and in other companies such as, Nike, who are outsourcing workers from the developing countries. I knew everything, yet at the time of shopping, I forgot those pictures and those messages easily without much problem. Intentional Unethical Decision Yes, I have taken unethical decision to please the higher authority, and it happened when I was working in the retail store and I need to retain my job at any cost. Therefore, when my boss asked me to, manipulate the sales figure, I did that because I wanted to save my job. Later on, I felt bad for that because that was something that was done to manipulate the accounts of the company, which is beneficial for the company, but not that much beneficial for the people working in that company. Victim of Ethical Fading The case, which involves the selling of Daraphim at a very high price to the customer is such a case that cause trouble to them, is case of ethical fading, where the patients, who have to take this particular drug is the victim of ethical fading. Martin Shkreli, the CEO of Turin Pharmaceutical sold these drugs at a price of $750, when the previous price was $13.00 and thus, the patients who have to take these drugs are affected largely, although the thing was just business strategy for the company (Court 2016). The pharmaceutical company although, claimed that they will lower the prices of the drugs but then it will only be provided to the hospitals and only those who are hospitalize would enjoy the benefit of this particular drug (Duggar 2016). Thus, this particular section count for a very small proportion, and thus only a small section of the people are benefitted and most of the people has become the victim of this particular incident at the same time. References Amanet.org. (2010).Loyalty vs. Ethics: From the White House to the Workplace. Court, E. (2016).Heres why Daraprim still costs $750 a pill. MarketWatch. Drexler, D. (2012). The Huffington Post. Duggar, J. (2016).The role of integrity in individual and effective corporate leadership. 1st ed. Ethical Leadership from Andrew Leigh. (2016).Ethical fading: is it happening right under your nose?. Janis, I.L., 2015. Groupthink: the desperate drive for consensus at any cost.Classics of Organization Theory, p.161. Thomas, R. (2016).Conflict Management Systems: A Methodology for Addressing the Cost of Conflict in the Workplace. Mediate.com. YouTube. (2016).Conflict of Interest. YouTube. (2016).Conformity Bias. YouTube. (2016).Ethical Fading.