Recent orders
Power distance
Power distance
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Power distance is identified as the extent to which the powerful members of organizations and institution such as families accept that power is distributed unequally. It is the extent to which they tolerate the power inequalities in the community. Power distance is closely related to the level of modernization of a society. The foundation of change is in turn depended on the prevailing cultural practices in a given community or groups for example the United Kingdom and the royal family. In areas where people share certain things in common, collectivism is embraced. However, modernization brings different culture together and so in some case there is a need to review the power structure in the United Kingdom. The Royal family members tends to stand by themselves. In places where culture is considered an essential attribute, and a unifying factor, members of the society tend to embrace collectivism.
An example of power distance in the case of United Kingdom and queen Elizabeth. As in the United Kingdom the power distance is evident as the queen’s family has been ruling over the time and other members have accepted this. The issue with this is that power has been circulating in hands of a given family member and none apart from the members of the family can have it. The resulting consequence is unequal power sharing and the discrimination of other members of the United Kingdom. However, since the community had initiated and accept the power distance, it is just normal to them.
Supply Chain Management for a Bicycle Company
Supply Chain Management for a Bicycle Company
Student’s Name
Institutional Affiliation
Supply Chain Management for a Bicycle Company
QUESTION 1
To determine the optimal quality and timing to align the Bicycle Company plans for producing and making sales, one has to develop an inventory plan. The following table gives a summary of the forecast demand for 2019.
Jan Feb Mar April May June July Aug Sept Oct Nov Dec Total
8 15 31 59 97 60 39 24 16 15 28 47 439
The average demand per month is given by
439/12= 36.58bicycles
The standard deviation is 24.58 bicycles for the monthly demand
The following costs and values are the determining factors to develop an inventory plan
Order cost = $ 65
The cost per bicycle = (60/100*170) = $102
The holding cost = ($102) * (1%) * (12) per bicycle per year gives a total of $12.24 per year per bicycle.
The service level = 95% with a Z value of 1.645
The lead time is one month which is equivalent to four weeks
The total demand per year is 439 units of bicycles
To find the total units of bikes, one has to calculate the Economic Order Quantity with the reorder points and safety stock, which assumes the seasonal nature of demand. The safety stock helps in dealing with demand fluctuation basing the situation on the demand variation over the planning horizon.
To calculate the Economic Order Demand, we take the total demand multiply by the ordering cost and multiply by two and divide with the holding cost, where calculations of the Holding cost and Total demand are done with the same time unit.
EOQ = 2*439*65/12.24 = 4662.58 then after getting the square root we have a total of 68 units of bicycle
QUESTION 2
The Reorder Point provides an adequate time to maintain the stock threshold. It ensures that the stock needed arrives on time to prevent running out of the stock. It also helps in preventing the unnecessary inventory holding costs that may interfere with placing orders on time.
When added to the safety stock, the Lead Time Demand gives the reorder points (Grob, 2018).
To calculate the ROP and the Total Cost we have
ROP =Average demand during the lead time + z (standard deviation of the demand during the lead time.
ROP = 36.58+1.645(24.58) which equals to 77 bicycles.
To get the Total Cost, we take the Holding cost per year to add to the Ordering cost per year
=1/2 EOQ* (Holding cost) + ss( Holding cost) +Total demand /EOQ(Ordering cost)
The safety stock is obtained by multiplying Z with the Standard deviation
=1.645 * 24.58 which equals to 40 bicycles
=$416.16+$489.60+$419.63 which gives a total of $1325.39
QUESTION 3
The bicycle organization has to choose all the orders and deliveries that lie within the demand horizon. Therefore, after giving the plot of the nature of demand, it is seen that it is not a level of demand over the planning horizon, making the Economic Order Quantity for the entire year inappropriate. To make the plan become more evenly distributed, one has to segment the planning horizon to make the demand become more evenly distributed and come up with an inventory plan for the segments (Song, Chen & Lei, 2018). In this way, the transition from one planning period to the next is managed.
References
Grob, C. (2018). Inventory Management in Multi-Echelon Networks: On the Optimization of Reorder Points (Vol. 128). Springer.
Song, J. M., Chen, W., & Lei, L. (2018). Supply chain flexibility and operations optimization under demand uncertainty: a case in disaster relief. International Journal of Production Research, 56(10), 3699-3713.
Sultan, M. F., KUBS-UoK, P. S., Khan, K. S., & Shere, S. M. (2019). Services: A Quantitative Study on Perceived Benefits Associated with Inventory Cost.
The early nineteen hundreds were a significant time for the United States.
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Chapter 27
The early nineteen hundreds were a significant time for the United States. The country had grown into its own due to the integration of different settlers. One of the events that took center stage was the civil war and the reconstruction of the south. This took a toll on the country making the citizens focus their energy on other factors. This changed the dynamics in that the country placed less emphasis on politics and more on social changes.
Most individuals invested in the increased technological knowhow, urbanization and industrialization. This was ideal for the growth and sustainability of the country due to the focus on the economy. The country had entered a new phase that encouraged production of goods and services. The country thus increased its rate of production which was reflective of the GDP. Most of these policies were a result of the progressivism movement that encouraged the development of the citizens.
The government had to maintain these ideologies so that the country could reach its expected target. One of the ways the citizens were kept in line was through the legalization of some of the social activities such as buying and selling of alcohol. This form of governance resulted in the improvement of public facilities such as housing, infrastructures and schools. The policies were well received by the country for a considerable amount of time. The country however began to change their opinion of Wilson’s policies due to the change in culture. This may have been one of the factors for the election of Warren Harding in the next general election.
Chapter 31
I945 was a monumental time in the history of the western world. The Second World War had just ended resulting in the creation of two political blocks. The leaders of the two blocks were mainly the United States and the Soviet Union. The two sides could not agree on the political ideologies to adopt. This led to the creation of alliances that determined the success of the blocks. The world was not ready for another war due to the effects it had on the entire globe.
One of the ways that the sides could solve this issue was to come up with another strategy. This led to the introduction of the cold war that saw the fight between the two blocks without the use of arms and ammunition. The United States had formed alliances with countries such as the United Kingdom and France. This left the Soviet Union with few allies due to its collapse. The cold war saw the fight for countries that did not have a side in terms of political allegiance. One of the targets in this case was Africa and different parts of Asia and Europe
America had adopted a democratic system of governance which encourages a multiparty state and an open market. The Soviet Union on the other hand embraced a socialist government which encouraged a unitary state that discouraged an open market. After the end of the cold war, both blocks agreed to settle for international peace and understanding. This led to the formation of further reforms which included the conduct of all the countries. America continues to spread the democratic way of life making it one of the strongest advocates of the voice of the public.