Farewell Party free essay sample

Farewell Party It is normally said that the prime time in the life of anyone is the time that he spends in school. This is, undoubtedly, golden age, which he recollects sentimentally for the rest of his life. And this golden era came to an end on 2nd February 2012, which happened to be my last day at school. It was the time to leave my school forever, where I had spent past ten years of my life. The farewell took place in a huge hall, jazzed up with strips of multi-colored paper, balloons and gaudy lights.The seats were organized in an arc. There were chairs for faculty and other inmates of the school. Though there was an aura of euphoria and exhilaration, yet it was tinged with an air of misery and despair. All students were dressed formally. In the span of a decade, this was the first instance that I wasnt wearing my school uniform. We will write a custom essay sample on Farewell Party or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Though sad, but feeling excited, we all occupied our seats and the function started. On the onset, there was the ceremony of lighting the lamp which was initiated by theHeadmaster of our school. Then the Juniors hosted a party in our privilege. It included tempting and delicious dishes and refreshments. After the party, different entertaining programs were held for our delight by the hosts. Finally, we took the stage to express our feelings about the school and our experience of studying here while other students and faculty members were served with appetizer and snacks. Along with the delicacies, tea was also offered. Afterwards, the Principal and the teachers delivered their speeches In English and Urdu. They commended us that we should keep the name and stature of our school. They advised us that we should never forget our alma mater. Finally they all wished us a successful life. Then we took a group photograph with our Juniors and then our faculty members. Afterwards we took autographs of our beloved teachers. At the end, we said goodbye to each other hoping to meet again.

Explaining Glasnost and Perestroika

Explaining Glasnost and Perestroika When Mikhail Gorbachev came to power in the Soviet Union in March 1985, the country had already been steeped in oppression, secrecy, and suspicion for over six decades. Gorbachev wanted to change that. Within his first few years as general secretary of the Soviet Union, Gorbachev instituted the policies of glasnost (openness) and perestroika (restructuring), which opened the door to criticism and change. These were revolutionary ideas in the stagnant Soviet Union and would ultimately destroy it. What Was Glasnost? Glasnost, which translates to openness in English, was General Secretary Mikhail Gorbachevs policy for a new, open policy in the Soviet Union where people could freely express their opinions. With glasnost, Soviet citizens no longer had to worry about neighbors, friends, and acquaintances turning them into the KGB for whispering something that could be construed as criticism of the government or its leaders. They no longer had to worry about arrest and exile for a negative thought against the State. Glasnost allowed the Soviet people to reexamine their history, voice their opinions on governmental policies, and receive news not pre-approved by the government. What Was Perestroika? Perestroika, which in English translates to restructuring, was Gorbachevs  program to restructure the Soviet economy in an attempt to revitalize it. To restructure, Gorbachev decentralized the controls over the economy, effectively lessening the governments role in the decision-making processes of individual enterprises. Perestroika also hoped to improve production levels by bettering the lives of workers, including giving them more recreation time and safer working conditions. The overall perception of work in the Soviet Union was to be changed from corruption to honesty, from slacking to hard work. Individual workers, it was hoped, would take a personal interest in their work and would be rewarded for helping to better production levels. Did These Policies Work? Gorbachevs policies of glasnost and perestroika changed the fabric of the Soviet Union. It allowed citizens to clamor for better living conditions, more freedoms, and an end to Communism.   While Gorbachev had hoped his policies would revitalize the Soviet Union, they instead destroyed it. By 1989, the Berlin Wall fell and by 1991, the Soviet Union disintegrated. What had once been a single country, became 15 separate republics.

Evaluation of Safety-Critical Software Essay Example | Topics and Well Written Essays - 2750 words

Evaluation of Safety-Critical Software - Essay Example To that end, there were several attempts to measure the dependability of safety-critical software. Similarly, Harlan Mills and his colleagues had developed a process called â€Å"clean room† that utilized independent testing groups to act as end users of programmable devices and were said to generate reliable results than the common practice of software professionals who performed a series of carefully planned tests to measure the reliability of their owned inventions. All things considered, an exhaustive mathematical test, not only based on intuitive reasoning, must be conducted to ensure the trustworthiness of safety-critical software. Programmable computers are tools that provide convenience to the end users, however, devices that are controlled by safety-critical software can threaten lives of people, as well. To that end, an extreme discipline in design in the making is needed. Data and related information should be laid out in a way that it could be easily comprehended by an independent group of testers. That is to say that â€Å"clean room† as developed by Harlan Mills and company must be applied to prevent unbiased results. Human errors often occurred, especially when software professionals would try to self-assist their own works. With this in mind, why engineers had chosen software instead of hardware? In the first place, software components were less expensive than hard-wired logic. These components were massed produced. Secondly, logic, in theory, that was implemented on software could be easily changed than of the one implemented on the hard-wired device. Lastly, software is more flexible than of non-computerized system. For instance, the modern computer technology could provide more information to the end users in a more convenient manner. Less space and power were needed to produce this information.

Re-negotiations in PPP Transport Infrastructure Essay

Re-negotiations in PPP Transport Infrastructure - Essay Example The paper tells that there is the tendency of national governments to incorporate the public-private partnerships (PPP) to provide and upgrade infrastructures, as well as public services. Talk of light rails, upgraded electric railway system, mainland road and main highways, as well as port facilities, are just but some of the projects the private sector is getting substantially involved in, conjunction with the public and local authorities to enhance service delivery in the transport system. Majority of these engagements are made effective via a group of diverse companies and contractual concessions. According to Smith the Principal refers to the one responsible for granting a concession and the ultimate owner of the facility after transfer. They are mostly government agencies, or regulate monopolies. On the other hand, the promoter is the organization that is granted the concession to build, own, operate and transfer a facility. In the course of project contractual engagements and project work, the companies and contractual concessions are faced by serious shortcomings calling for renegotiations. According to Estache and Rus, one crucial consideration that is made during the drafting of a concession contract, is that, during all probability of the life of contract, some unpredicted circumstances will arise forcing the parties of the contract to renegotiate. The statement is truly relevant in cases of concession contracts. The logic behind this is due to the long period of the contract, thus making it anticipate all possible contingencies unfeasible for either of the parties. On the same note, unforeseen contingencies also occur as a result of concession contracts for port facilities and relate to expensive fixed assets that are easily removable and redeployed to a different location (Gomez-Ibanez and Meyer 1993). Renegotiations occur in developing and developed countries alike. Gomez-Inbanez and Meyer (1993) analysed transport concessions in industrialised co untries and made out that renegotiations are remarkably common. Renegotiation of a concession contract is probably the rule and not the exception, and they should not be perceived as a failure (Peter, Kuyper and Candolle 1995). Due to concession contracts being essentially long-life documents, the parties are not in a position to foresee all possible future contingencies at the moment of the contract drafting. Thereby, this should be noted in advance, and the parties ought to consider several future conflict scenarios and put in place provisions for inclusion of at least basic renegotiations rules. Nevertheless, it is critical for the concessionaire to avoid renegotiation at an early stage as it may place in jeopardy the credibility, transparency, and fairness of the bidding process (Estache and Rus 2000). Contracts are mainly renegotiated within a few years after official contractual signing and results into better contractual terms for the contract holders (promoters). The princip le and the promoter are crucial entities in the signing and effectual implementation of the contracts to the project (Smith 2002). This paper aims at evaluating the principle and the promoter in renegotiations regarding public-private partnerships concession contracts, in regard to transport infrastructure. Further, equitable renegotiations are imperative to the realisation of the completion of the project in question. This paper also aims at evaluating how to achieve equitable renegotiations, which offer superb value to both the principle and promoter. The contractual renegotiation is effective in the reduction of contract incompetence; conversely, a poor design of these can allow for opportunistic behavior by the concessionaries. Thus, there is

PURCHASING PRACTICES assignment Example | Topics and Well Written Essays - 250 words - 1

PURCHASING PRACTICES - Assignment Example If the exchange rate is unfavorable, there is a likelihood that we may be forced to cancel any purchases or reduce the quantities purchased. In purchasing commodities from China, we will need to adjust the value of the items for inflation both in China and in Canada. This could significantly adjust the value of the items. China and Canada have different cultures and trade practices. Business etiquette in China is heavily based on Chinese culture and if we are to complete and business, we have to adhere to the rules of engagement. China’s government has a significant say on the manner that business is conducted within the country. At the moment, there is a relatively open policy that encourages international businesses to engage in business transactions with their local companies. It is thus expected that we will face little opposition from the authorities if we were to purchase the items from a Chinese supplier. Furthermore, there are reduced tariffs on purchases made from china and this should help reduce the cost of the purchases

Inventory Management in a Multinational Company

Inventory Management in a Multinational Company Inventory may be desirable, even necessary, for smooth operation and good customer service in many situations. For instance, inventory can be used to reduce the lead time to respond to customer demand, to smooth out the production rate when there are variations in demand, and to protect the company from underestimates of demand (forecast errors) or shortage of supply. Reasons such as these, plus the fact that inventory is considered an asset on a companys balance sheet, have led many companys to carry excessive amounts of inventory. Some companies for example, the Japanese manufacturer Toyota, have become known for their ability to operate with low inventories and to achieve a high inventory turnover. (Inventory turnover is basically the ratio of sales to the average inventory level, both measured at cost or retail price.) The Japanese approach is to keep in process inventory low and to achieve quick flow of the product through the production cycle. Being able to respond quickly to d emand, companies can work from a shorter range forecast, which is more accurate, so they need less safety stock to protect from uncertainty. [1] 2. Aims and objectives Inventory management is an important concern for managers in all types of businesses. For companies that operate on relatively low profit margins, poor inventory management can seriously undermine the business. The challenge is not to pare inventories to the bone to reduce costs or to have plenty around to satisfy all demands, but to have the right amount to achieve the competitive priorities for the business most efficiently. [2] Aims and objectives of this thesis are as follows: Deciding where to position inventory Determining when to replenish inventory Calculating how much to order Determining the placement of safety stock Refacilitating the use of business resources for profitable business results Ensuring the target level of inventory is available to support demand. 3. INVENTORY Inventory is defined as the stock of any item or resource used in organization [3]. An inventory system is a collection of people, equipment and procedures that function to keep account of the quantity of each item in inventory and to determine which items to buy or produce in what quantities and at what times. Even very simple method that accomplishes these functions cost money to operate. Some inventory system requires transaction reporting to keep track of every instance in which units are added to or taken from the existing inventory. This perpetual inventory records can be expensive, but the additional expense can be justified for products that are relatively expensive to hold in inventory 3. 1. CYCLE INVENTORY The portion of total inventory that varies directly with lot size, is called cycle inventory. Determining how frequently to order, and in what quantity, is called lot sizing, two principles apply. The lot size, Q, varies directly with the elapsed time (or cycle) between orders. If a lot is ordered every five weeks, the average lot size must equal five weeks demand. The longer the time between orders for a given item, the greater the cycle inventory. At the beginning of the interval, the cycle inventory is at its maximum or Q. at the end of the interval, just before a new lot arrives, cycle inventory drops to its minimum, or 0. the average cycle inventory is the average of these two extremes: Average cycle inventory = This formula is exact only when the demand rate is constant and uniform. However, it does provide a reasonably good estimate even when demand rates are not constant. Factors other than the demand rate also may cause estimating errors when this simple formula is used. 3.2. SAFETY STOCK INVENTORY To avoid customer service problems and the hidden costs of unavailable components, company holds safety stocks. Safety stocks inventory protects against uncertainties in demand, lead-time, and supply. Safety stocks are desirable when suppliers fail to deliver the desired quantity on the specified date with acceptable quality or when manufactured items have significant amounts of scrap or rework. Safety stock inventory ensures that operations are not disrupted when such problem occur, allowing subsequent operations to continue. Figure 1: Various types of Inventory To create safety stock, a farm places an order for delivery earlier than when the item is typically needed. The replenishment order therefore arrives ahead of time, giving a cushion against uncertainty. Inventory used to absorb uneven rates of demand or supply, which businesses often face, is referred to as anticipation inventory. Predictable, seasonal demand patterns lead themselves to the use of anticipation inventory. Anticipation inventory also can help when supply, rather than demand, is uneven. A company may stock up on a certain purchased item if its suppliers are threatened with a strike or have severe capacity limitations. 3.3. ANTICIPATION INVENTORY Inventory used to absorb uneven rates of demand or supply, which businesses often face, is referred to as anticipation inventory. Predictable, seasonal demand patterns lead themselves to the use of anticipation inventory. Anticipation inventory also can help when supply, rather than demand, is uneven. A company may stock up on a certain purchased item if its suppliers are threatened with a strike or have severe capacity limitations. 3.4. PIPELINE INVENTORY Inventory moving from point to point in the materials flow systems called pipeline inventory. Materials move from suppliers to a plant, from one operation to the next in the plant, from the plant to a distribution center for customer, and from the distribution center to a retailer. Pipeline inventory consists of orders that have been placed but not yet received. Pipeline inventory between two points, for either transportation or production, ca be measured as the average demand during lead time, , which is the average demand for the item period (d) times the number of periods in the items lead time (L) to move between the two points, or Pipeline Inventory = = dL. [2] 4. BATB Inventory Management There are some standard management theories as we described earlier in chapter two. The operational environment varies firms to firms, companies to companies. Based on the different varying conditions most companies do manage the inventory at their own. They do not follow exactly what the theory implies but analyzing the theories they go for the decisions that suit them most effectively and efficiently. The goal should not be to minimize inventory or to maximize customer service but rather to have the right amount to support the competitive priorities of the company. 4.1. BATB Inventory System BATB inventory system can be compared with a two-bin system in which an items inventory is stored at two different locations. Inventory is first withdrawn from one-bin. The two-bin system implies that if the first bin is empty, the second bin provides backup to cover demand until a reenlistment arrives [2]. BATB has the flexibility to locate their inventory at different points from supplier to warehouse at supplier premises which is very good advantage for a company. The demand manager and the MPS manager reviews the inventory positions on the daily basis and then go for receiving the lot from the pipeline inventory. This indicates that they are maintaining the pipeline inventory. It helps them reduce the lot size to be stocked at warehouse. BATB Inventory includes: Finished goods Bled sets Filter rods Wrapping materials Leaf Tax stamps Bandle rolls The study is mainly focused on the leaf. Because this is the major concern in any cigarette manufacturing company as it holds the maximum cycle time. We will work with the raw materials inventory. Mainly BATB has two types of materials. These are wrapping material and Tobacco. They receive raw materials from both local and foreign suppliers. Foreign suppliers are mainly from Brazil, Argentina, Canada, South Africa and Zimbabwe. For local suppliers average lead-time is 10 to 15 days and for the foreign suppliers lead-time is 90 to 120 days. Leaf is supplied by both the local and foreign supplier. But ignoring the local leaf as it takes less time, we will take the imported leaf in account to analyze. Leaf Strategy Leaf is an agricultural plant, which must be cultivated, and it needs certain period to get matured. Therefore the ordering policy of leaf is very time consuming. They have to place the order very early of the time it is needed to arrive. Suppose they need 1000-ton leaf in the month of April 2008, they inform their supplier right now that is in the month of April 2007, so that they can cultivate the leaf and then deliver. In addition, it is to be mentioned that just after the arrival in the warehouse the leaf is not as ready as to be used for production. It goes under another certain period of time for maturation and then is under for production. But if we talk about the lead-time it will include only the days between order placements to arrival at warehouse. 5. SAFETY STOCK Usually one does not know precisely the number of units that will be demanded each day during the lead-time. The duration of lead-time may have unexplained or unexpected variation. Demand can be thought of a probabilistic variable with some expected amount of demand during a period of time and unexplained variations about the expected value. If inventory could be replenished one a moments notice there would be no reason to be concerned about demand uncertainty. Whenever inventory reached zero, stock would be held again. With some lead time between the placement of an order an its arrival, however there is a chance that demand will be greater than expected and loss will be incurred due to stockout. When stockout costs are high and demand is very unpredictable, the financial risk is sizable. Safety stock is a means of protection against this risk. Safety stock (SS) is established simply by raising the reorder level above the expected lead-time demand. For probabilistic demand during le ad-time, the reorder level is given by the following equation where represents the mean demand per unit of time. [1] RL= ( ÃÆ'- LT) + SS Safety stock is the average amount one hand when replenishment orders arrive. Sometime demand during the lead-time is less than expected extra stock is on hand. Sometimes demand is greater than expected and some of the safety stock is used. 6. Methodology Step 1: Conducting a primary survey. Step 2: Preparing primary questionnaire Step 3: Modification of the questionnaire Open-ended questions: This type of questions found out the view of the decisions makers out for gathering information regarding the subject topic. Close-ended questions: These types of questions were designed to extract information which are related to the preparation of a realistic forecast: Step 4: Performing the case study and conducting the interview Step 5: Data processing and analysis 6.1 Demand Forecasting Strategy Demand manager receives the sales history of the previous 4/5 years. He observes the trend that every month undergoes. There are some seasonal impacts in the cigarette market. But overall the market is a stable one. Following the trend of previous 4/5 years and considering the marketing activities, the demand manager goes for a rolling forecast over the next 18 months. The term rolling here implies that the forecast is updated every month for the next 18 months. Stable Trend-up Trend-down Figure 2: Trends of Demand By this, the demand manager feels flexible enough to consider any new promotional activity or any assumption from the marketing department and any seasonal impact, which has not been included earlier. The main focus of forecasting is based on the trend. If the trend is decreasing the forecasted sales goes down and vice versa. 6.2. Findings Imported leaf stock: Year end 2008 imported leaf stock was 317 million Taka Average 2008 leaf stock was 334 million Taka (~ 4 months duration) Currently, they are following an inventory policy of maintaining a 90 day safety stock which varies in quantity and value terms over the year with fluctuation in demand. 7. ANALYSIS The assumptions presented in the chapter two have been considered applicable to develop the EOQ for the imported leaf. Considerations: Grade: AN30/104S Demand in Kg/Month: Annual Demand = 152000 Kg Holding Cost = 32 TK/ Kg Ordering Cost = 700 TK (Assumed) EOQ =à ¢Ã‹â€ Ã… ¡ (2DS/H) = à ¢Ã‹â€ Ã… ¡ ((2*152000*700)/32) =. 75Kgs Kgs 7.1 HOW MUCH TO ORDER The analysis shows that the company should order 2579 kg for the particular grade each time, a quality that should be result in 58.93 cycles per year. Actually, the equation derived doesnt result in actual lot size that must be ordered. This will help to manage lot size and inventory control. The current moves towards the inventory cost and quantities, stress the importance in reducing lot size. That means to reducing lot sizes is to reduce setup time and cost. When smaller lots are run, holding cost is reduced. The point is to understand the logic and where to apply it. The effect on order size resulting from reducing setup cost is shows in the following figure. When the setup cost is reduced, the total cost curve shifts from TC1 to TC2. Correspondingly, the EOQ is reduced from EOQ1 to EOQ2 and the maximum total cost is reduced from TC1min to TC2min.[3] Figure 6: Effect of reduced set up cost on order size and total cost 7.2. Reorder level The order quantity and reorder level are interrelated. A large order quantity causes fewer replenishment cycles with fewer exposures to stockout, so the reorder level can be reduced, and vice versa. Theoretically, we would have to find simultaneous solutions to equations for Q and RL to find their normal values. The value of D, S and H are only estimates, and the value of the EOQ will be approximate whether or not an adjustment is made for the expected stockout cost. Consequently, as often as done, we disregard the interrelationship between Q and RL. We solve for the EOQ, ignoring its effect on stockout cost, and then we find the best reorder level for this value of Q. Assumptions: Highest Service Level Factor corresponding to 99.99% satisfaction level used though recommended maximum level is usually 98%; this results in a more than 50% higher safety stock ii) Safety Stock calculated using standard deviation of actual demand rather than variance between forecast and actual giving higher levels of safety buffer. iii) Lead time taken to be 4 months for all grades whereas actual lead time is considerably less providing greater safety stock to cover variation in demand during lead time. Calculation: RL = L + z Where, RL =Reorder Point in Units, =Average Demand Per Time Period, L = Lead Time,Z = No. of Standard Deviation for a Specified Service Level,= Standard Deviation of Usages during Lead Time Annual Demand =152000 kgs Average Demand/Per Month =12666.66 L= 4 Months Z = 99.99% = à Ã†â€™d = à ¢Ã‹â€ Ã… ¡ (à ¢Ã‹â€ Ã¢â‚¬Ëœ (di-dà ¢Ã‹â€ Ã¢â‚¬â„¢) 2/12), in a range from i-1 to 12 =à ¢Ã‹â€ Ã… ¡ (31066666.66/12) =1609.00 Therefore, = =1609* =3218 From the above calculation RL can be determined as follows: RL = 12666.66 * 4 + 4*3218 =50666.64 + 12872 =63538.64 This says that when the stock on hand gets down to 60610.26 kgs order should be placed. 7.3. Level of Safety Stock Safety stock= =4*3218 =12872 It results to a safety stock of 31 days, as the daily demand is 416.43 kgs. But theoretically it is applicable for the particular grade. Though the other grades do not involve so much variation in their demand, considering some logistic capabilities for the overall improved leaf the proposed safety stock is 50 days. This will allow for flexibility during roll out of new safety stock polling while guarding against unanticipated changes in sales and supply scenarios. The reason for proposing this amount of safety stock is to protect much against the uncertainty of demand. Because there may be a situation that for a sudden change in demands the system may not be flexible enough to meet the change from the calculated safety stock. This is due to demand forecasting that takes place over a long period and the order is placed for a particular month very early of the situation it experiences the change in its demand. So immediately it is not possible for the system to respond the sudden change in demand. For this, proper level of safety stock should be placed in a company for its smooth operation. Another fact is that the lead time from order placement to arrival at warehouse involves some events over which the proper control is not possible. The following section represents the impact of reduction of safety stock and then the analysis of lead time is shown. It is to be mentioned that the more the lead times the more the level of safety stock. Therefor e the lead time calculation is an important factor for the placement of safety stock. 7.4. BENEFITS CALCULATION GRADE: AN30/104S Annual consumption = 152000kgs 90 days safety stock = 38000kgs 50 days safety stock = 21111.11 Therefore, WC Reduction = (38000-21111.11)*165 =2.78 million Taka 7.5. OFFSHORE STOCK COST CALCULATION Reduction in safety stock = 16888.89 kgs This amount of excess stock will be held at supplier premises for a maximum additional period of 12 months. Holding cost at BATB @ 12% = 16888.89ÃÆ'-135.11ÃÆ'-12% =273823 Taka Holding cost at supplier @ 7.2% + Excess Duty =16888.89 ÃÆ'- 135.11 ÃÆ'- 7.2% ÃÆ'- 1.22 =200439 Taka Therefore, Savings =73384 Taka 8. IMPACT OF REDUCED LEVEL OF SAFETY STOCK ON WC Proposed Safety Stock based on lead-time, variability in demand during 2006 and desired service level indicates a substantially lower requirement of safety stock even with very conservative assumptions Using 2007 volumes this would translate to reducing imported leaf stock from an average of 322.60 Million TK. to about 179.18 Million TK. Jan 08 Feb08 Mar 08 Apr 08 May 08 Jun 08 Aug08 9. LEAD TIME ANALYSIS It has been already mentioned that the more the lead time the more the safety stock. Lead time involves the total time from the order placement to arrival at warehouse Figure 7: Supply Lead Time We can develop a pie chart highlighting the time taken on a percentage basis by different events that take place from order placement to arrival at warehouse. Symbols Events Average % A TIME TAKEN BW ORD PLACE PRO INVOICE REC 14.75 7 B TIME TAKEN BW LC REQUIEST 10.93 5 C NO. OF DAYS SPENT B/W LC SHIPMENT DATE 38.90 19 D ARRIVAL IN CTG (ACTUAL SHIPMENT ETA CTG) 35.10 17 E DAYS REQD CTG TO ICD 6.05 3 F DAYS REQD ICD TO WAREHOUSE 8.58 4 Table 1: Lead Time Analysis The pie chart shows that a major part of the time from order placement to arrival at warehouse involves the events C and D over which the control cannot be held so easily. They involve some complex as well as time taking procedures. But in case of the rest of the events different action can be issued very effectively. Figure 8: Events placed on Warehouse (Percentage basis) In addition there are some recommendations for reducing the lead-time in the next chapter. 10. RECOMMENDATION As the analysis shows that the company can reduce the level of safety stock, the first phase of recommendation represents how it can be carried out and the later phase defines the steps, which should be proper monitored and controlled with a view to, maintain an optimized inventory management system. This will enable to obtain an effective safety stock level. Allowing Inventory Policy Exceptions for certain grades to satisfy requirements for blend changes and brain launches. Reviewing and improving the order tracking process as necessary. Monitoring orders, delivery performance and safety stock policy adhere continually. Gradually moving to safety stock of 2.5 months and then to 50 days, with 6 months duration difference. Holding the excess stock at the supplier premises. Locating the inventory at different points in the pipeline rather to hold much in the warehouses. The following steps should be performed in order to implement the recommend actions: Developing operational excellence in demand forecasting so that there will be fewer surprises. Cutting the lead-time to reduce the demand uncertainty during lead time. Reducing the supplier uncertainty. Supplier reliability can be increased by sharing the production plans with them, permitting them to make more realistic forecast. Improving the logistics capability by planning the infrastructure to meet demand, then implementing and controlling the physical flows of material and final goods from points of origin to points of use. 11. CONCLUSION It has been revealed that the traditional inventory management system needs some modification depending on the situation or the operating environment, while inventory is management by a company. The different inventory models provide a different set of capabilities and opportunities to exploit different competitive priorities. Some members of different industries and consulting firms have already started to criticize classical inventory models seem fashionable. But prior to the operating conditions different classical inventory models can be considered as the decision making tools that will enable a company to take its step under conflicting pressure. All the system needs is proper integration of operation and business. This will smooth the flow of information and thereby implementation of such models would be openhanded.

Merchant of Venice Essay examples -- Merchant of Venice Essays

Mercy v. Justice – Old Testament v. New Testament While the conflict between justice and mercy plays a key role in determining the outcome of The Merchant of Venice, this conflict is even more important because it provides a setting for the contrast between the rigid law and rules of the Old Testament and the concepts of mercy and forgiveness as taught by Christ in the New Testament. It is in the climactic trial scene that The Duke, hoping Shylock will excuse Antonio's penalty, asks him, â€Å"How shall thou hope for mercy rend'ring none?† He is referring to expectations of judgment in the afterlife. However, so is Shylock, when he counters, â€Å"What judgment shall I dread doing no wrong?† This exchange perfectly presents this conflict between of the Old Testament and the New, in which the former is seen to emphasize strict obedience as mankind’s obligation to God while the latter stresses God's grace and mercy. The laws and rules of the Old Testament insisted on strict justice, â€Å"An eye for an eye, and a tooth for a tooth† (Exodus 21:23, 24; also see: Leviticus 24:19, 20; and Deuteronomy 19:21) while the New Testament calls for mercy, â€Å"Blessed are the merciful: for they shall obtain mercy† (Matthew 5:7) said Christ in the Sermon on the Mount. He later added â€Å"Ye have heard that it hath been said, ‘An eye for an eye, and a tooth for a tooth’; but I say unto you, that ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.† (Matthew 5:39). Shakespeare’s version of â€Å"An eye for and eye† is found at the end of Shylock’s great speech in the trial scene of Act IV, â€Å"If a Jew wrong a Christian, what is his humility? Revenge. If a Christian wrong a Jew, what should his sufferance be by Christian example? Why, revenge. The villainy you teach me I will execute, and it shall go hard but I will better the instruction.† His demand for vengeance is made more understandable in this famous speech as he lays open the years of pain and anger caused by the anti-Semitic treatment and abuse from the likes of Antonio and the rest of Venetian society. But, while he is more a victim than a villain, he's not blameless. What turns Shylock into a ruthless avenger is his daughter’s elopement with a Christian and her rejection of the religion of her family. It is this betrayal by his own flesh and blood that renders Shylock seemingly merciless towards ... ...s and forgiving herself. One of the great ironies of this play happens when Shylock calls Portia, "A Daniel come to judgment, yea, a Daniel!" Daniel was the Old Testament judge of Susanna, a woman accused of being unchaste by the elders. The story is pointed because Daniel rules in Susanna's favor, thus rescuing her from her fate. After freeing her, he then in turn convicts the elders. Shylock's mistake is that while he is right in calling Portia a Daniel, he fails to recognize that he is the one who represents the elders and Antonio is the rescued Susanna. In the end, Shylock is prevented from cutting a pound of Antonio’s flesh from very near the merchant’s heart, but in a sense it is the Christians who cut Shylock’s heart out of his body without shedding a drop of his blood. While the Christians preach mercy when Antonio is at risk, the Christian court is happy to opt for Old Testament vengeance itself in exacting a punishment which leaves Shylock feeling that he might as well be dead-- â€Å"Nay, take my life and all, pardon not that, You take my house, when you do take the prop / That doth sustain my house: you take my life / When you do take the means whereby I live.† Merchant of Venice Essay examples -- Merchant of Venice Essays Mercy v. Justice – Old Testament v. New Testament While the conflict between justice and mercy plays a key role in determining the outcome of The Merchant of Venice, this conflict is even more important because it provides a setting for the contrast between the rigid law and rules of the Old Testament and the concepts of mercy and forgiveness as taught by Christ in the New Testament. It is in the climactic trial scene that The Duke, hoping Shylock will excuse Antonio's penalty, asks him, â€Å"How shall thou hope for mercy rend'ring none?† He is referring to expectations of judgment in the afterlife. However, so is Shylock, when he counters, â€Å"What judgment shall I dread doing no wrong?† This exchange perfectly presents this conflict between of the Old Testament and the New, in which the former is seen to emphasize strict obedience as mankind’s obligation to God while the latter stresses God's grace and mercy. The laws and rules of the Old Testament insisted on strict justice, â€Å"An eye for an eye, and a tooth for a tooth† (Exodus 21:23, 24; also see: Leviticus 24:19, 20; and Deuteronomy 19:21) while the New Testament calls for mercy, â€Å"Blessed are the merciful: for they shall obtain mercy† (Matthew 5:7) said Christ in the Sermon on the Mount. He later added â€Å"Ye have heard that it hath been said, ‘An eye for an eye, and a tooth for a tooth’; but I say unto you, that ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.† (Matthew 5:39). Shakespeare’s version of â€Å"An eye for and eye† is found at the end of Shylock’s great speech in the trial scene of Act IV, â€Å"If a Jew wrong a Christian, what is his humility? Revenge. If a Christian wrong a Jew, what should his sufferance be by Christian example? Why, revenge. The villainy you teach me I will execute, and it shall go hard but I will better the instruction.† His demand for vengeance is made more understandable in this famous speech as he lays open the years of pain and anger caused by the anti-Semitic treatment and abuse from the likes of Antonio and the rest of Venetian society. But, while he is more a victim than a villain, he's not blameless. What turns Shylock into a ruthless avenger is his daughter’s elopement with a Christian and her rejection of the religion of her family. It is this betrayal by his own flesh and blood that renders Shylock seemingly merciless towards ... ...s and forgiving herself. One of the great ironies of this play happens when Shylock calls Portia, "A Daniel come to judgment, yea, a Daniel!" Daniel was the Old Testament judge of Susanna, a woman accused of being unchaste by the elders. The story is pointed because Daniel rules in Susanna's favor, thus rescuing her from her fate. After freeing her, he then in turn convicts the elders. Shylock's mistake is that while he is right in calling Portia a Daniel, he fails to recognize that he is the one who represents the elders and Antonio is the rescued Susanna. In the end, Shylock is prevented from cutting a pound of Antonio’s flesh from very near the merchant’s heart, but in a sense it is the Christians who cut Shylock’s heart out of his body without shedding a drop of his blood. While the Christians preach mercy when Antonio is at risk, the Christian court is happy to opt for Old Testament vengeance itself in exacting a punishment which leaves Shylock feeling that he might as well be dead-- â€Å"Nay, take my life and all, pardon not that, You take my house, when you do take the prop / That doth sustain my house: you take my life / When you do take the means whereby I live.†