Implementation of Fishers Model in the Supply Chain...

Introduction Market globalization, intensifying competition and an increasing emphasis on customer orientation are regularly cited as catalyzing the surge in interest in supply chain management. Against this backdrop, effective supply chain management is treated as key to building a sustainable competitive edge through improved inter and intra-firm relationships (Seuring et al 2003). A range of benefits has been attributed to supply chain management, including reduced costs, increased market share and sales, and solid customer relations (Langabeer 2007). There is one paper which presents a major contribution to the field of supply chain management and this is Fisher’s What is the right supply chain for your product?†¦show more content†¦To battle this challenge, the company is using an accurate response model which is a good example of implementation of a responsive supply chain strategy. The model tells the company exactly how much of each style to make early in the production season. This approach has cut the costs of both overproduction and underproduction in half-enough to increase profits by 60%. Implementation of Fisher’s model, therefore, includes three basic steps. Determine the nature of your product, decide about your supply chain priorities, and as a last step, employ a matrix to formulate the ideal supply chain strategy. A critique of Fisher’s model As Seuring et al (2003) state, the Fisher’s paper has influenced the supply chain literature in a great extent. While reference is more often made to the supply chain dimension and the separation of responsive and efficient supply chain, the product related dimension also played an important role in the development of further concepts. This influence can be primarily seen by the number of subsequent papers that build upon it. These papers have analyzed Fisher’s model from the different angles and pointed out some weaknesses and limitation of this approach. A critique of the model as it appears in the presented assignment will be therefore built on three main approaches. The first one is an empirical test of the model which hasShow MoreRelatedSupply Chain for Competitive Advantage5791 Words   |  24 PagesCROCS: REVOLUTIONIZING AN INDUSTRY’S SUPPLY CHAIN FOR COMPETITIVE ADVANTAGE BHOOSHAN PARIKH CBS FTMBA 2008-09 OPERATIONS MANAGEMENT TERM PAPER 3/16/2009 Case Study This paper analyses and discusses the supply chain process of Crocs Inc. in a competitive and dynamic footwear industry. The paper critically evaluates the existing supply chain of the company against its current performance and changing market conditions and explains reasons for loss of competitive advantage of the companyRead MoreLearning from the Fashion Industry: a Structured Literature Review39302 Words   |  158 PagesCRANFIELD UNIVERSITY ELEFTHERIA DIMITRAKOU LEARNING FROM THE FASHION INDUSTRY: A STRUCTURED LITERATURE REVIEW CRANFIELD CENTRE FOR LOGISTICS SUPPLY CHAIN MANAGEMENT MSc THESIS CRANFIELD UNIVERSITY CRANFIELD SCHOOL OF MANAGEMENT CRANFIELD CENTRE FOR LOGISTICS SUPPLY CHAIN MANAGEMENT MSc THESIS Academic Year 2006-2007 ELEFTHERIA DIMITRAKOU Learning from the Fashion Industry: A Structured Literature Review Supervisor: Dr. Chris Morgan August 2007 This thesis isRead MoreHand Hygeine Research Papaer6466 Words   |  26 Pagesmost important means of preventing the risk of transmission of microorganisms from person to person or object to person or from one site on a patient to another (de Almeida et el. 2012). 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The Between Bathroom Placement And Gender Roles - 1968 Words

The placement of female restrooms in public establishments suggests the existence of gender inequality. Due to inadequate information surrounding the topic of bathroom placement an independent study was done to find whether there is a correlation between bathroom placement and gender roles. Considering the lack of information provided the way in which the sexes usage of bathrooms will be analyzed as well as transgender bathroom rights. The independent study consisted of going to sixteen public establishments and checking the placement of their restrooms. The public establishments visited include the following: the Champlain Mall, Costco, Superstore, Second Cup, Starbucks, Mary Brown’s, Pita Pit, Subway, and Crandall University. A number†¦show more content†¦Tagnoli analyzes people’s use of different rooms in their house as a way to indicate the differences between the way that men and women interact. His study analyzed the gender differences between the way adults recount behavior and impressions in various rooms of their own home (Tagnoli, 1980, p. 833). There were 13 women and male participants varying from the age of 18-65 that worked outside of the home (Tagnoli, 1980, p. 836). The study required the participants to partake in a home decorating project (Tagnoli, 2012, p. 836). All the participants answered a questionnaire regarding how they felt about their living rooms, kitchens, bathroo ms, and bedrooms (Tagnoli, 1980, p. 836). In the questionnaire, the participants were asked the following questions; to describe what they and others did in each room over the past week, to describe the feelings felt in the room, and to write the impressions in any manner they wished (Tagnoli, 1980, p. 836). The respondents made a series of ratings on 10 different room dimensions in terms of comfort, satisfaction and pleasantness (Tagnoli, 1980, p. 836). Regarding the bathroom, it was found that men mentioned using the toilet and bathing more, while women mentioned hair washing and washing self-more (Tagnoli, 1980, p. 838). Interestingly, for the women participants there was no mention of bathroom use except for the nonexplicit statement of, â€Å"You must be joking! Let s say all the things a bathroom has beenShow MoreRelatedGendered Spaces Of Gender And Gender Essay1519 Words   |  7 Pagesarrangement and placement of genders. Biopolitics is a system of controlling the way peop le live and move through storing order or restriction. Therefore, this makes gendered spaces biopolitical; given that gendered spaces control the movement of genders. Gender bias not to be confused with sexism; means to be prejudice and discriminate against another gender. In other words, it is the belief that one gender is superior over another, typically men over women. In order to truly understand gender bias andRead MoreThe Importance Of Nature Vs. 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Case Study Of Virtucon & Globex Samples †MyAssignmenthelp.com

Question: Discuss about the Case Study Of Virtucon Globex. Answer: Project Name/Team/Description Team Name: Name of team members Role/Title Contact No. E-mail Please fill Project manager Please fill Please fill Please fill Business analyst Please fill Please fill Please fill Risk manager Please fill Please fill Please fill System analyst Please fill Please fill Project Overview Riverina Agriculture and lifestyle show was mainly founded in the year 2010, which generally helps in displaying agricultural equipment, local business as well as suppliers. It is identified that tickets are generally buyed by the people for attending the show. The present procedure of ticketing selling is creating number of challenges before the organization. It is found that when the crowds for attending the show are in large number then they generally slip through the gate in order to avoid standing in the queue for tickets. For avoiding this type of problem, the organization wants to develop proper system of ticketing. The implementation of online ticketing system is quite helpful in minimizing the queue at the gates for ticket invasion. Project description and objectives It is identified that the implementation of online ticketing system within the organization RALS helps in minimizing the problems that the people faces due to manual system of ticketing. It is found that the developed system is quite significant in enabling patrons for accessing different type of show tickets from any of mobile devices or online platform. Due to the online system, the people can book the ticket before the show and thus the problem of standing in queue can be reduced or minimized to some extent. The objectives of the project are: To maximize the sales of various ticket To develop an online system of ticketing for improving the system of ticketing To design an effective system so that the tickets can be accessed easily from any of the online platform Team charter Team Members Title Knowledge and skills inventory Roles and responsibilities Please fill Project manager The project manager have proper communication skills that helps them to manage the project properly The project manager helps in managing the different phases of the project effectively for developing the ticketing system Please fill Business analyst They have effective knowledge as well as skills of developing the information system and therefore the online ticketing system is implemented successfully. They are quite responsible of analyzing various needs of the project are very much necessary for developing the online system of ticketing. Please fill Risk manager The risk manager is capable of identifying different types of challenges and problems associated with project The risk manager is responsible of managing the risk that generally occur by using proper risk mitigation strategy Please fill System analyst The system analyst is quite capable of executing as well as planning the entire project effectively by creating its appropriate design The system analyst is very much capable of implementing the online ticketing system properly Communication Type Frequency/time Location email and document storage location Oversight and accountability email Weekly Office email, video conference The project manager generally arranges meeting with the project contractors on a weekly basis in order to determine the progress of the project. Project status report Weekly Conference hall Meeting minutes, video conference and audio conference. The meeting is arranged with the team leaders for getting appropriate information about project status. Team lead meetings Monthly Branch office The meeting is mainly arranged by the team leaders for discussing on various risks as well as challenges that is mainly associated with the project. Steering committee meetings Monthly Conference hall Audio conference, email Meeting is generally arranged by the committee for developing the project so that the development of the project becomes successful for the organization. Team Rules and expectations Rules of the team include: Proper contract must be created for providing messages if any type of changes are required to be incorporated within the project Proper notice must be provided to the higher authority if the team members are unable to attend meetings Mail id must be maintained for conveying information about leaves. Expectation: It is normal from the colleagues that they should be fit for leading the different doled out parts and obligations regarding the improvement of the project effectively. The working environment of the association must be produced and the required assets for the task must be provided enough with the goal that the advance of the undertaking does not get discouraged. Signature: Date: Name: please fill (Business analyst) Please fill Name: please fill(Project manager) Please fill Name: please fill (Risk manager) Please fill Name: please fill(Resource manager) Please fill Learning cycles Meeting Organizer Scribe Understanding the project Meeting 1 Business analyst Business analyst Proper specification of the entire system for analysis Meeting 2 Project manager Project manager Conceptualization as well as initialization Meeting 3 Project manager Business analyst Developing project charter Meeting 4 Project manager Business analyst Identifying different type of requirements as well as needs of Globex Communication Plan Stakeholder Role Power/Influence Interest Communication Strategy Meetings stakeholders are part of Other forms of communication Project manager High High manage closely The project manager arranges meetings with the team members for motivating them so that they can work properly for achieving project success. Meeting minutes, video conference and audio conference Resource manager Medium High Monitor closely The resource manager generally arranges meetings in order to manage the various resources of the organization properly so that the entire project will be executed properly. Audio conferences, and meeting minutes System designer Medium High Keep informed They generally arrange meetings for reflecting the problems they faces while designing the system of ticketing. Email, telephone calls as well as catch up meetings. Reflection It is found that the business analyst have effective roles as well as responsibilities for analyzing various requirement of the project whereas the resource manager generally assist in determining the need of the resources. It is identified that the best project managers have proper correspondence and additionally administration aptitudes that help with dealing with the different periods of the project successfully. It is recognized that the productivity of the project is absolutely subject to the undertaking achievement. The colleagues of the task must be inspired every now and then so they work adequately in finishing the whole undertaking inside the expected spending plan and in addition time. It is investigated that the risk manager participates in recognizing different dangers of the undertaking so those risk can be alleviated effortlessly with no sort of trouble. The finance manager for the most part kept a little measure of cash for different sorts of inadvertent dangers for s paring the whole undertaking from disappointment. The resource manager is very capable of dealing with the resources of the undertaking keeping in mind the end goal to maintain a strategic distance from issues that largely happen because of uncalled for administration of assets. There are number of skills, which are distinguished to be particularly imperative for building up the completely ticketing framework effectively. The abilities include: Specialized skills: The project manager must have appropriate abilities and information about the diverse programming dialects with the goal that the web based ticketing framework can be produced viably. Administrative abilities: The project manager is very equipped for evaluating the assets that are required for building up the whole venture effectively. Bibliography Heldman, K. (2015).PMPproject management professional exam deluxe study guide: updated for the 2015 Exam. John Wiley Sons. Hwang, B. G., Ng, W. J. (2013).Project management knowledge and skills for green construction: Overcoming challenges.International Journal of Project Management,31(2), 272-284. Kerzner, H. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Larson, E. W., Gray, C. (2013). Project Management: The Managerial Process with MS Project. McGraw-Hill. Martinelli, R. J., Milosevic, D. Z. (2016).Project management toolbox: tools and techniques for the practicing project manager. John Wiley Sons. Phillips, J. (2013).PMP, Project Management Professional (Certification Study Guides). McGraw-Hill Osborne Media. Schwalbe, K. (2015).Information technology project management. Cengage Learning. Sears, S. K., Sears, G. A., Clough, R. H., Rounds, J. L., Segner, R. O. (2015).Construction project management. John Wiley Sons. Serra, C. E. M., Kunc, M. (2015). Benefits realisation management and its influence on project success and on the execution of business strategies.International Journal of Project Management,33(1), 53-66.

Creating Rights and Obligations Law

Question: Discuss about the Creating Rights and Obligations Law. Answer: Introduction: A contract is an agreement in which promises are made by two or more parties who have the intention of creating rights and obligations for such parties that can be enforced in a court of law. A contract can be described as an official agreement that has been created between two or more parties. The law allows that a contract can be created by the parties in writing or it can also be created only. The contracts that have been created in writing may use formal or informal terms. In the same way, even an entirely verbal contract can also be enforced by the law. However in such a case, it may be difficult to establish the terms of such a contract. Hence, a contract can be described as a promise that has been made by two or more parties and on the basis of which, a judgment can be made by the courts. There are certain essential elements that have to be present in an agreement due to which the agreement becomes a valid contract. If any of these elements is not present, the agreement is not a valid contract and consequently, the courts cannot enforce such an agreement. The first such element is that of offer. Under the contract law, and offers or a promise has to be made in the contract. If there is no offer, there can be no contract. It is the first element that has to be present for the purpose of making a contract legally enforceable. In order to make an offer, at least there should be two parties. The parties should have the legal capacity to enter into a contract. In case the offer has been accepted and other elements are present, it will amount to a legally enforceable contract. When the offer is being made, the other party comes to know what is being offered and what the other party is expecting in return. It also needs to be noted that a difference exists between and offer and an invitation to treat. The law provides that an invitation to treat is made by a party when it invites the other party to make an offer. An example of the invitation to treat is the goods that have been displayed in a shop window along with their price. In the same w ay, the goods that have been displayed on the shelf of a shop with a price tag also amount to an invitation to treat. The difference between an invitation to treat and an offer is that while the acceptance of the offer results in the creation of a valid contract, an invitation to treat cannot be accepted for creating a valid contract. The next element is the acceptance of the offer by the other party. When an offer has been made, the other party is required to accept the offer for the purpose of creating a valid contract. The law requires that the offer should be accepted on exactly the same terms. On the other hand, if while accepting the offer, the other party has introduced certain new terms and conditions, it amounts to a counter offer. On the other hand, a mere request for information is not considered by the law as a counter offer. Therefore in such a case, the offer remains intact. On the other hand, if a counter offer has been made, the original offer is no longer available to such a party. Hence the party making the counter offer is not allowed by the law to accept the original offer later on. The law provides that an offer can be accepted by only the party to whom it has been made. The acceptance is also required to be communicated to the other party. Merely a mental decision to accept the offer which ha s not been communicated to the other party does not amount to a valid acceptance. Anytime before the offer has been accepted, it can be withdrawn. In Felthouse v Bindley (1862), it was stated that silence cannot amount to the acceptance of the offer. An exception is present to the general rule which requires the communication of acceptance. This acceptance is present in case of unilateral contracts. An example of such a case was seen in Carlill v. Carbolic Smoke Ball Co. (1893). There is an exception present to the general rule according to which the acceptance becomes effective only when it has been communicated to the party making the offer. Hence the postal rule provides that when post has been contemplated by the parties for the purpose of the exchange of promises, the rule regarding the time of acceptance changes. While an offer that has been sent by post is not effective unless it has been received by the offeree, the acceptance will be considered to be effective as soon as the letter containing acceptance is put in the mailbox (Adams v Lindsell, 1818). On the other hand, in Entores Ltd v Miles Far East Corp (1955), it was stated by the code that when a party has sent the acceptance of the offer by using an instantaneous mode of communication, the contract is considered to be effective only when such acceptance has been received by the other party. The next requirement that is present for the creation of the valid contract is that of consideration. Under the contract law, consideration means the thing that will be given back by the other party in return of the promise made under the contract. It amounts to an exchange that takes place between the promisee and the promisor. Without consideration, a legally enforceable contract cannot be created. There are certain rules related with consideration. The law of contract provides that consideration should move from the promisor. The law also provides that past consideration is not a good consideration (Roscorla v Thomas, 1842). In the same way, the law provides that consideration needs to be sufficient but the courts are not going to the question of adequacy of consideration. Consideration can be of two types, executory consideration and executed consideration. In case of executory consideration, an exchange of promises takes place for performing acts in the future, for example a contract related with the supply of goods according to which A dozen made a promise to deliver goods to B at some future date and in return, a promise is made by B to play on delivery. In case A fails to deliver the goods, it can be considered as a breach of contract and B can sue A. If the goods are delivered by A the consideration becomes executed. In case of executed consideration, if a party has made a promise in exchange of an act of the other party, when such act is completed, the consideration is known as executed consideration. An example can be given of a unilateral contract in which a reward of $500 has been announced by A to any person who finds and the returns have lost handbag and if B returns the bag, the consideration provided by B is executed consideration. As mentioned above, the general rule provides that past consideration is not good consideration. However there are certain exceptions to this rule. When the promisor has made a previous request to the other party for providing the goods or services, then a promise that has been made after the goods or services were provided is considered as binding (Lampleigh v Braithwait, 1615). Similarly if something has been done in context of business and both the parties clearly understood that it will be paid for, then also the past consideration is treated as good consideration (Re Casey's Patents, 1892). These principles were also followed by the Privy Council in Pao On v Lau Yiu Long (1980). The Law contract also provides regarding consideration that it should be something of a value even if the courts do not go into the issue of legacy of consideration. The result of this position is that things like natural love and affection are not treated by the law as good consideration (Eastwood v Kenyon (1840). Another requirement related with creating a valid contract is the intention of the parties to enter into a legal relationship. This invention is essential for a valid contract. In this way, the law requires that while entering into the agreement, the parties should have the intention that they are going to enter a legal relationship. The purpose behind the introduction of this requirement is to differentiate between purely social/domestic agreements and the agreements that have been created in context of trade and commerce. Without this requirement, even the routine promises that are made by us in our daily life will also become legally enforceable and the courts will be burdened with a large number of cases. Therefore, a promise made by a friend to go to dinner or a promise made by the father to purchase a new bicycle is not enforceable by law if the parties did not have the intention of creating a legal relationship. Certainty is the next element that should be present in a valid contract. The law contract requires that the terms and conditions that have been mentioned by the parties in the agreement should have been mentioned clearly and understood by the parties. In case the terms of the agreement are not certain, such a contract is not a valid contract. According to the contract law, another element that should be present in a valid contract is the capacity of the parties. In this context, capacity to contract means the legal capacity of the parties to enter into a contract. According to the Law, minors, the persons of unsound mind, persons under intoxication etc. are not allowed by the law to create a valid contract. In Nash v Inman (1908), Nash was a tailor who had entered into a contract for supplying Inman, a student at Cambridge for the supply of 11 fencing waistcoats. At that time, Inman was a minor and he already had an adequate supply of clothes. When the cost of these coats was claimed by Nash, Inman tried to rely on his lack of capacity and succeeded. The court stated that like a lunatic, a minor is also not capable of making a contract in the strict sense of the word. However if a person satisfies the needs of the minor or lunatic and supplies the necessaries of life to such a person, it will be implied that such person has an obligation to repay for these services and this obligation can be enforced against the estate of the minor or the lunatic. But it needs to be mentioned that the basis of this obligation is not contractor but instead the obligation to make a fair payment regarding the needs of the minor that have been satisfied by another person. Therefore, it can be said that a contract created with a minor or a lunatic is voidable under the common law except the necessities of life supply to the minor. In this way, a minor can enter into a contract for supplying the articles at a reasonable price that are reasonable and necessary for supporting the minor in his station in life if the minor does not have a sufficient supply of such articles. However, such a contract can become enforceable only if the two following conditions are satisfied. First of all the contract should be related with the supply of goods that are reasonably necessary for supporting the minor in his station in life and the minor should not already have an adequate supply of these articles. References: Adams v Lindsell (1818) 106 ER 250 Carlill v. Carbolic Smoke Ball Co. [1893] 2 Q.B Eastwood v Kenyon (1840) 11 Ad. E. 438 Entores Ltd v Miles Far East Corporation [1955] EWCA Civ 3 Felthouse v Bindley (1862) EWHC CP J 35, Lampleigh v Braithwait (1615) Hob 105 Nash v Inman [1908] 2 KB 1 Pao On v Lau Yiu Long [1980] AC 614 Re Casey's Patents [1892] 1 Ch 104 Roscorla v Thomas, (1842) 3 QB 234