| |increase service quality (e.g., a lower risk of stock outs and other problems), and he estimates the cost savings at |…
Efficient Production………………………………………22 Simpler Product Design……………………………….…22 Lower Input Costs……………………………………....22 Low-cost Distribution…………………………………...22 Minimal Brand Image Cost……………………………..23 Tight Cost Control………………………………………..23…
• Economies of scope: Use same raw and semi finished materials and intermediate production processes to make a variety of different products (move into related markets)…
-Leads to higher performance standards in quality, cost, productivity, product introduction time, and operational efficiency…
*Logistics, Supply-Chain (Value-Chain) – The supply chain is the sequence of activities and organizations involved in producing and delivering a good or service; also called a value-chain because with each step, value is being added on. Logistics is basically the routing/transportation as to how these goods get anywhere. For example, the first person in the sequence would be someone like a farmer, where the raw materials (fruits, vegetables, meat) come from. From this point, the products would be moved systematically/logistically through the supply chain to the end- Final…
To reduce production and operating costs; improve efficiency (to consolidate and reconfigure its production facilities)…
A business that reduces its costs can benefit in two ways; keeping prices the same therefore having a higher profit margin, or reducing the selling price to attract more customers. E.g.…
Which of these in relation to materials management refers to the procurement and physical transmission…
An operation increases its production level and observes that the cost of producing each unit decreases.…
Higher staff retention; reduced recruitment cost; more satisfied customers; access to a world-wide customer base; better supply chain management…
This memoir demonstrates all of the five themes of geography, which includes the themes of region, mobility, globalization, nature culture, and cultural landscape. To begin, Malala writes that when she was born, guests would stay over at her home and that, “Our home is always full of people visiting from the village. Hospitality is an important part of Pashtun culture” (Yousafzai and Lamb 20). The theme of region is a geographical unit that is categorized by characteristics and purposes based on its culture.…
* Increase in sales volume results in greater employee efficiency at lower labor cost per unit…
Every organization, big or small, depends on materials and services from other organizations to varying extents. Various materials used as inputs, such as raw materials, consumables & spares, are required to be purchased and made available to the shops / users as & when needed to ensure uninterrupted production. Therefore, efficient…
They also lower pilferage by continuous stock audit based on ABC classification of items instead of periodic full stock verification helps to identify mismatch between physical stock & system stock early. Such continuous stock audit helps lower pilferage. It also made a best purchase as store pool its requirements; the volume of purchase goes up. This allows store better negotiating leverage. Combining this with the analysis of their sales, purchase and inventory…
Time can be saved once the non value added activities are removed from the process as there is fewer work process to be done. This will lead to cost saving as the cost incurred during the production will also decrease. As the cost decreases, the profit margin will be higher and it will lead to a greater income for the…