Wednesday, July 29, 2020
Frankfort Frankfort, city (1990 pop. 25,968), state capital and seat of Franklin co., N central Ky., on both sides of the Kentucky River, in the heart of the bluegrass country; inc. 1796. It is the trade and shipping center for an area yielding tobacco, livestock, and limestone. Among its manufacturers are wire, wood, and plastic products; automotive parts; apparel; liquor; asphalt; and thermostats. Thoroughbred horses are also raised there. Daniel Boone reached the site in 1770. The city was organized (1786) by the Virginia legislature and was selected as the state capital in 1792. Many old homes and buildings have been preserved. Of interest are the capitol (1909â"10), with a giant floral clock in its plaza; the old state house (1827â"30), which houses the state historical society; Liberty Hall (1796); and the old cemetery with the graves of Rebecca and Daniel Boone . Kentucky State Univ. is there. The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University P ress. All rights reserved. See more Encyclopedia articles on: U.S. Political Geography
Friday, May 22, 2020
Sample details Pages: 11 Words: 3186 Downloads: 2 Date added: 2017/06/26 Category Energy Industry Essay Type Research paper Did you like this example? The first worlds official futures exchange that had been developed is the Chicago Board of Trade (CBOT). It had been founded in 1848 which it have 82 Chicago merchants. Earlier, in CBOT, there is only exchange between of wheat and cash. DonÃ¢â¬â¢t waste time! Our writers will create an original "The Future Concern About Oil Prices Finance Essay" essay for you Create order The futures contract is for make both parties have written contract in exchange the commodities. In 1849, the commodities that had been traded are flour, timothy seed and hay. In 1851, the products that got popularity among merchants and food processors is corn that is trade in forward contracts. Forward contract is same like futures contracts The futures contract also act as collateral to borrow money from banks. The first dealer will sell the contract to the second dealer, than the farmer will give the orders to other producers. The speculators also entered into the market to make profit. They make profit from buying for the lower prices and then selling at higher prices. Eggs and butter are trade in the Chicago Butter and Egg Board on 1898 and became the major futures exchanges in United States (US). Today, it is known as Chicago Mercantile Exchange. After a few decades, other commodities such as National Raw Silk Exchange, Rubber Exchange of New York and National Metal Exch ange were established. On 1936, the regulations of futures and commodities trading were developed by Commodity Exchange Act. This Commodity Exchange Act is developed for avoid the control of whole supply of a particular kind of products in agricultural markets, reduce speculations and stabilize the prices. The Commodity Exchange Act not allows the manipulation on future prices of commodity. The Commodity Exchange Act use the regulation in 1922 Grain Futures Act that state that the commodity futures trading commodities must be trading with licensed. That is meant that the commodities that want to be traded must have a licensed contract. Fraud is not allowed and the brokerage firm must register to the federal government before act as agent to the traders. On 1974, the regulations were added by the Commodity Futures Trading Commissions (CFTC). CTCF sets the daily prices to stop prices volatility. On 1982, the CTCF established its own regulatory body that is the National Future s Association (NFA). NFA is act as an overseer to ensure that futures and commodities industry is done properly. In addition, NFA also act as mediator to stop the argument based in consumers complaints. Nowadays, online commodities trading became more popular. In the trading, they have charts, quotes, and strategy analysis and order entry to help the traders make decisions. In this trading the broker can know the traders information such as financial information from the accounts form that had been filled. Not all can be approve because it is only accept traders that have greater financial background. COMMODITIES FUTURES EXCHANGE 2.1. Commodities futures exchange Based on definition under the Commodity Exchange Act of 1936, a commodity is defined as every item on which futures trading may be conducted, except onions (trading on onions is not permitted because of prior difficulties of the commodity). A commodity will include such things as interest rates and stock prices, as well as traditional commodities such as wheat and soybeans. Generally, commodity is defined as natural resources, chemicals and physical products that can be touch, taste, smell, grow, mine, consume or deliver. The term of commodities is use for all futures commodity contracts that is includes financial. For example, individual or firm who operates a managed futures program is call as commodity trading advisor. The commodity trading advisor is mostly trade in the financial futures markets such as in interest rate. Nowadays, the most of commodity trades are in the form of financial contracts such as U.S. Treasury Notes, Eurodollars and Standard Poors 500. But, the actually of commodity trades is based on physical products and it is still trade on this while. Futures contract is an agreement between buyer and seller that is for exchange commodity at a specified agreed price and time for delivery in the future. The most popular commodities that trade in this contract are metals, energy, grains, livestock and food and fibre. A commodity futures contract is for delivery the real products. The options to buy or sell the underlying commodities futures contract are also activities in the investing commodity. A commodity exchange or also act as board of trade is a central market which is a place for trading the futures contracts. It is licensed by the government to manage the process of futures contracts trading. Futures exchange also act as clearing house which is responsible for the transfer and settlement of the underlying instruments for the futures contracts. 2.2. The most commodities that had been traded 2.2.1 Metals The underlying instrument in future contract for metal is including copper, gold, platinum, palladium and silver. These types of metal is been using for industrial purpose, construction and for jewellery. The copper have many uses that are for building construction, for electrical and electronic products, transportation and also for industrial machinery manufacturing. This product is most important in the implementation of economy. The prices of copper can be influence by the economic growth. Because of that, the traders are always alert with the prices copper in the futures. The action that made by the traders is for known or measure the general economic trends. Seasonal demand, political and economic can affect the prices of gold in futures. Gold is use to make hedging for against the geo-political risk and inflation. The central banks will buy gold to increase the value of the countrys currency. In U.S., the trades of metals are at the New York Mercantil e Exchange. For the list mini-gold and silver products, it is trade at Chicago Board of Trades e-cbot that is electronic platform. 2.2.2 Energy The most popular underlying instrument for energy futures contracts are crude oil, gasoline, heating oil, natural gas and electricity. These underlying instruments can affect to the world economic because it was necessity products. All these products are traded in the New York Mercantile Exchange. The products in the energy are based on the natural resources. It is important because these underlying instruments is use for measure and determined the world economic and political developments. The first product under the energy commodity that traded is oil. The value of U.S. dollar currency is important for trading crude oil because many the crude oil in the world is quote in dollar currency. The futures prices of the energy products are affected by political, economic conditions or weathers. The political relationship with produ cer countries is important because it can affect to the prices of energy futures. The energy futures are traded at New York Mercantile Exchange (NYMEX). 2.2.3 Grains The major products in his futures contracts are corn, soybeans, soybean oil, soybean meal and wheat. Grain and soybeans are essential for food and feed supplies. Grains and soybeans are essential products that act as food and feed supplies. The prices of these products are affected by weather conditions. The prices of grains can be affected by the weather, energy markets and fuel demand. This is because corn (commodity for grains) is a part for ethanol fuel and the prices will be rise when the consumers demand is greater. In these underlying instruments, they have their own popularity or demand. It is because all consumers are not too demand with these products. All these products are traded in the Chicago Board of Trade at United States. In addition, the products are also been trading at Kansas city Board o f Trade and Minneapolis Grain Exchange. 2.2.4 Livestock The underlying instruments in the livestock futures exchange are live cattle, feeder cattle, lean hogs and pork bellies. Their prices are affected by the demand for the products, competitors, price of feed and factors that affect to the quantity of animals. All these products are trade at the Chicago Mercantile Exchange. 2.2.5 Food and Fibre The popular products that trade in foods and fibres futures contracts are including cocoa, coffee, cotton, frozen concentrated orange juice (FCOJ) and sugar. The prices of the products can be affected by weather, disease on the plantation, insects and others. The factors of increasing price in this commodity are same as for the grains commodities. Basically, FCOJ price is affect from the weather conditions. The growing season in Florida or Brazil can affected to the both of current crop size and also long-term production prospects. But, international exchange rates can affect all of the global products such as the change in the tariffs and geopolitical events in the producers states. This is because, the product is trade internationally and can be affected by international factors. Each state has own regulations. And the traders need to follow all the regulations that have stated by the nation to ensure that they can trade legally. In addition, the economic and political situation in each state is different from other states, These products are trade at the New York Mercantile Exchange and ICE Futures U.S., which is formerly as the New York Board of Trade. ISSUE: OIL STORED AT SEA COULD MEAN BIGGER PROBLEMS AND PRICES IN FUTURE On the few years before, most big industry make big profits from the stored of oil. The traders will buy oil in the lower prices which is in spot price then will sell the oil when the market price is increase. The price can be increase when the demand is greater than the supply. When the traders store the oil, it can make the supply of oil decline and make the demand above the supply. Even the price of oil is rise, the consumers will buy the oil because oil is a necessity products. in order to control the rising of oils price, the authority party force traders to inform more information about over-the-counter (off-exchange) derivatives and take just a small position on the basic commodities. During a meeting of global regulators in Tokyo, Scott OMalia (commissioner for the Commodities Futures Trading Commission (CFTC) had criticised traders who buy oil and stored it to make profit. He criticised that the traders is try to extract money from the consumers and producers. Some c ompanies practicing a trend known as contango that is refer to barrels for delivery further in the future are more higher than barrels for immediate delivery. They know that oil storage can make them gain more profit as a result from exploiting. This trend had started from 2004 in the oil market. This trend is practicing by most big industry such as Trafigura, Glencore and Vitol. The industries buy the oil in spot price and store it. Then, they sell the oil in long-term contracts. They buy the oil in the spot price that is cheaper then they sell in the long-term contracts. The traders are like to use temporary floating tankers even the investment banks had begun to charter ships, leaving the market with a shortage of vessels for transporting other commodities. Floating tankers is being using for store the oil. It receives the oil that is produced from the platforms and stores the oil until it can be transfer to the tanker or transported through a pipeline. The regulators ma ke a study to find whether the oil prices rise is affected either by the withdrawal of supplies and the demand is low or it is the natural on the market. But, it was denied by Commodities Futures Trading Commissions (CFTC). This is because, CFTC analyze on the party that exploit the market. In this few months, the number of storing oil by the traders is drop. And now, the storing of oil is less than before and makes the price of oil drop back to normal. In February this year, Goldman Sachs indicates that the total of hydrocarbons at sea including the barrels in transit is fell to 636m in January. Before that the total storage is 660m and it was declined for 24m. Simpson, Spence Young is the worlds largest shipbroking companies. SSY is one of the major industries for tanker broking companies. And now, the company measure roughly and found that the number of tankers used for storage oil was fell in January. The number of tankers had been felled by 20pc. Last November before, ships that store crude oil were 149 ships. But, by this February, Gibson measured that the number of ships had been decline to 112 ships. The quantity of ships for store the crude oil had drop by 37 ships. The storage, addition quantity of new terminals that is mostly for oil that is been improving result for globalisation. For example is a new terminal at off the coast of Malaysia. It is jointly owned by Trafigura that is a Dutch Trader. In addition, Vitol also build new terminal on this April at off the coast of Florida. PetroChina also had accepted the leasing of 5m barrel at a facility in St Eustatius, Caribbean. But, there is also producers that not want to open the new facility at global. They were more chosen to ship their oil to the West and wait until it is right time to sell. The producers such as Essar and Reliance think that it is more financially rather than open new facility. The information about the oil such as the amount of oil or who have stored the oil i s not enough because of the storage of oil. The traders keep it under-reported and will sell the oil when the prices of oil rise. The information about the actually amount of oil that the traders have and who had store it is important. This is because, the information can ensure that the prices of oil will not increase and can know the actual situation. CFTC is worried with the storage of oil because the information about the amount of storage oil and the owner that store is oil is not known. Estimation made by Deutsche Bank result that up to 100m barrels was in floating storage during the financial crisis. It is more than double of 40m-50m that is figured by industry. The traders keep the information secretly because they want to take advantage when the consumers demands of oil increase. The traders are seemed as not guilty on their actions because they just want to make their own profit. But, the actions by the traders become more seem can be blame because no one knows about the storage oil. IMPLICATIONS 4.1. Oil stored could mean bigger problems Based on the article, oil stored at sea can result to the bigger problems. The traders are practices this storage because they want to take advantages to the consumers when the time is right. Oiled stored can be result to many problems. Because of the storage oil, the information about the oil storage also cannot be known by others especially New York Mercantile Exchange. The traders is practicing the contango that is for exploiting to gain more profit. 4.2. Oil stored can affected to the prices in future From the storage of oil by the traders, the prices of oil will be affected in future. The price of oil will be increase and during this time, the traders will sell oil to market. This is because, the traders want to take advantage to consumers and gain more profit. Consumers will buy the oil even the price is increase because oil is a necessity product. It is need by consumers around the world and they will just ignore about the prices. Because oil is the necessity product, the traders not worried to doing contango because the risk is too small. They know that they will guarantee to get profit with it and cannot be lose. The consumers demand will not be decrease and will be higher if they still not get the product. 4.3. The factors of increasing in oils price Oils price is rise as a result from the storage of oil by the traders. This is because, when the traders keep the oil in the storage at sea, the supply of oil at market will be decline. The consumers demand on oil will not decline because it is necessity product. But, the demand will be higher because the shortage of oils supply. When the demand is higher than supply, the price of the product will be increase. This is the intention of the traders. They want to make the prices increase in future with keep the oil in tankers. They want to gain more profit with sell the oil in future rather than sell it immediately. 4.4. The benefits for the traders The traders will get a benefit from the storage of oil. This is because, the traders will buy the oil on the spot rate from producers, and then sell it in the future. The future price is higher than the spot price because the demand for the product is greater than the supply. The traders will store the oil at sea and wait until the price of oil increase and sell during the time. The traders practice the contango plan which is the price of future is higher than a spot price. From the practicing of contango, the traders will just earn profit without the risk to lose. The traders know that, the consumers demand will not decline because there are no products that can be play functions like oil. On the other words, oil cannot be changes with other products. 4.5. The effects to the consumers The consumers oil will get affected on the increasing of oils price. It is because, oil is a necessity product for the consumers. Consumers will buy oil even the price is increase. They will ignore about the price and will buy oil with same quantity as before. The consumers not have any other choices but are forces to buy oil in the higher price. The rising in the price of oil can be a burden to the consumers. This is because, when the price of oil increases, it can be affected to the other products. Commonly, the seller of the other products will also take advantages from the rising of oils price. This can make the consumers expenditure is higher than before. It will make peoples decrease in their wealth. 4.6. The effects to other party Because of the oil storage by the traders, the other party will affected too. This is not only affected to the consumers of the product. The other party that is affected is New York Mercantile Exchange (NYME). This is because, NYME not get enough information about the actually amount of oil been stored and who store the oil. The amount of oil that been store can affect the prices in NYME. This can make the prices in the market increase because the traders are keeping secret about the amount of oil that is in storage. In addition, commonly the sellers of the other products will also affected by the increasing of oil price. This is because, there are certain of the products are producing using oil. When the oils price is increase, then the producer of the other products also increase their products price. They also take advantages on the increasing of oil prices.
Saturday, May 9, 2020
The Newly Leaked Secret to Online Essay Writing Disclosed Ideas, Formulas and Shortcuts for Online Essay Writing With the demand for writing help increasing, various paper writing services are established to assist you with your writing tasks. You are going to be able to choose the academic requirement of the essay we create for you to be certain you know your customized essay will satisfy the mandatory assessment standards. Nonetheless, writing different essays is an important part of the educational procedure. Our essay writing services are a simple, stress-free alternate to achieving your aims. A trusted essay writing service will use information you provide to make sure you receive content written from scratch that satisfies your needs. When seeking the ideal essay writing service provider, have a look at the site's review section will spare you lots of research time and energy. 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Wednesday, May 6, 2020
The percentage of agreement by the students that the increment affect their lives is higher than that stated they were not affected. Based on the observations, this may be due to male students only use a motorcycle as their regular transportation. For this reason, it may because of they were more interested to use car instead of other type of vehicles. We will write a custom essay sample on Advantages and Disadvantages Living in the City or any similar topic only for you Order Now So, the level of oil consumption by the female students were higher than the male students. We can conclude that, the studentsÃ¢â¬â¢ daily live were very affected by the increment of the fuel prices. Figure 7 Here, students who lived nearly to the campus will have the opportunity to walk to the class and they also contribute in environmentÃ¢â¬â¢s protection. From our observation, this kind of transportations were most preferred by the male students and motorcycle also require low cost and easy to maintain. From our observation, female students used more car to go to the campus than the male students. They found that car is more comfort, even it requires better maintenance and high cost. Students have indicated that bus services in UTM was not so good. This may not happen, if the bus management is upgraded. Bicycle is good for getting good health and environmental protection but it only not all the students are preferred to use bicycle because it may be due to the state of various UTMÃ¢â¬â¢s topography. So, it can be seen that the FKAÃ¢â¬â¢s students was mostly preferred to walk to go to the campus. How to cite Advantages and Disadvantages Living in the City, Papers
Wednesday, April 29, 2020
McDonalds Supply Chain Challenges and its Potential impacts 14 Even stronger focus on freshness and quality 14 On-going product innovations 15 Strong customer demand fluctuations based on promotions 16 Order- and inventory management restaurant Ã¢â¬â DC Ã¢â¬â supplier raw material supplier 18 Bull Whip effect 19 Change Management in a de- centralized structure 20 Methods for Solve Problems 20 Build the quality supervised system 20 Build the detailed Ramp;amp;D process 22 Improve the level of marketing promotion and forecast 23 Build the direct supply system 25 Build the decentralized structure 26 Recommendation 27 Conclusion 28 References 29 Introduction In this report, our team chooses to delve into the success of the global company- McDonalds. McDonalds is one of the most well known brands in the world. The objective of this report is to understand how supply chain management applied into real business in McDonalds. We will through the problems mainly analysis supply chain in McDonalds and its significance in real life and also will explain the successful reason of McDonalds how to use supply chain in their business. We will write a custom essay sample on The Bargaining Power of Supplier of Mcdonalds or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page McDonalds are a multinational firm and their subsidiary company throughout all over the world, so McDonalds should have a perfect supply chain. McDonalds Background McDonalds is one of only a handful of brands that command instant recognition in virtually every country in the world. McDonalds is the worlds largest chain of fast food restaurants, serving nearly 47 million customers visiting it per day through more than 31,000 restaurants in 119 countries worldwide. McDonalds sells various fast food items and soft drinks including hamburgers, cheeseburgers, chicken products, salads, fries, breakfast items and ice cream desserts. Many McDonalds restaurants have included a playground for children and advertising geared toward to children. Company has expansion of McDonalds into many international markets; the company has become a symbol of globalization and the spread of the American way of life. It also expanded the McDonalds menu in recent decades to include alternative meal options like salads and snack wraps in order to capitalize on growing consumer interest in health and wellness. Each McDonalds restaurants is operated by a franchisee, an affiliate or the corporation itself. The corporations revenues come from the rent, royalties and fees paid by the franchisees, as well as sales in company- operated restaurants. McDonalds Strategy McDonalds marketing strategy is concerned with the internal resources, external environment and its basic competencies along with its share holders. McDonalds strategy to develop its global workforce is designed to be aligned with and support the execution of its over- arching strategic business goal, which is amp;amp;quot;to become everyones favorite place and way to eatamp;amp;quot;. McDonalds current strategy is to further promote the image of healthy food that can be found at amp;amp;quot;New or Re- modeled McDonalds. amp;amp;quot; McDonalds new strategy of presenting its restaurants as the convenient place where healthy food can be found is in line with its recent attempts to create a healthier image for itself. The corporation is planning other menu changes, such as switching to a cinnamon roll and a sausage burrito as its core breakfast offering, while bagels would become an alternative item. Some chain that individuals amp;amp;quot;confront a future of acce lerating McDonaldization. amp;amp;quot; These changes are part of its strategy to offer a range of choices that support a balanced lifestyle, thus to attract new clients and retain old ones. McDonalds Business Process Supply chain business process integration involves collaborative work between buyers and suppliers, joint product development, common systems and shared information. According to Lambert and Cooper operating an integrated supply chain requires continuous information flows, which in turn assist to achieve the best product flows. However, in many companies, management has reached the conclusion that optimizing the product flows cannot be accomplished without implementing a process approach to the business. The key critical supply business processes in McDonalds will comb following processes: Customer service management Customer relationship management concerns the relationship between the organization and its customers. Customer service provides the source of customer information. It also provides the customer with real- time information on promising dates and product availability through interfaces with the McDonalds companys production and distribution operations. Procurement process Strategic plans are developed with suppliers to support the manufacturing low management process and development of new products. In firms where operations extend globally, like McDonalds it sourcing should be managed on a global basis. Activities related to obtaining products and materials from outside suppliers requires performing resource planning, supply sourcing, negotiation, order placement, inbound transportation, storage, handling and quality assurance, many of which include the responsibility to coordinate with suppliers in scheduling, supply continuity, hedging, and research into new sources or programmes. Product development and commercialization Here, customers and suppliers must be united into the product development process, thus to reduce time to market. The appropriate products must be developed and successfully launched in ever shorter time- schedules to remain competitive. Manufacturing flow management process The manufacturing process is produced and supplies products to the distribution channels based on past forecasts. Manufacturing processes must be flexible to respond to market changes, and must accommodate mass customization. Orders are processes operating on a just- in- time (JIT) basis in minimum lot sizes. It also changes in the manufacturing flow process lead to shorter cycle times, meaning improved responsiveness and efficiency of demand to customers. Physical distribution This concerns movements of a finished products or service to customers. In physical distribution, the customer is the final destination of a marketing channel, and the availability of the product or service is a vital part of each channel participants marketing effort. It is also through the physical distribution process that the time and space of customer service become an integral part of marketing, thus it will link a marketing channel with its customers. For example, links manufacturers, wholesalers and retailers. Outsourcing/ partnerships This is not just outsourcing the procurement of materials and components, but it also outsourcing of services that traditionally have been provided in- house. Manage and control partners and suppliers require a blend of both central and local involvement. Hence, strategic decisions need to be taken entrally with the monitoring and control of supplier performance and day- to- day liaison with logistics partners being best managed at local level. Performance measurement Experts found a strong relationship from the largest arcs of supplier and customer integration to market share and profitability. By taking advantage of supplier capabilities and emphasizing a long- term supply chain perspective in customer rela tionships can be both correlated with firm performance. Supply Chain Supply chain is one of the critical factors for the smooth functioning of any business. Supply chains most- often show where different product components are sourced. There are two key components to the fast food industry supply chain. On the one hand, raw materials are essential to the ultimate product. More importantly, though, the value- added component of the supply chain comes primarily from the services provided by quick, convenient, and quality establishments. The value- added from the supplier to producer right through to the retailer and the final customer. The most important aspect of the industry supply chain is that it is driven by the consumer. The consumer has what seems to be an endless amount of fast food chains to choose from every day. The best example is Burger King and McDonalds they all have excellent marketing departments and that is why they are all on the rise in todays market. The main goal of their marketing is to make the consumer drive that extra two blocks past the competitor to eat at their chain. McDonalds Supply Chain McDonalds was aware that supply chain management was undoubtedly the most important factor for funning its restaurants successfully. McDonalds supply chain is extensive and complex. Its very efficient, which is why McDonalds are able to consistently offer their customers safe and quality food at an affordable price. But theres more to the equation. McDonalds supply chain contributes positively to the safety, quality, and availability of their final products. They also want their product ingredients to be produced in ways that can contribute positively to the development of sustainable agricultural and food manufacturing practices. McDonalds have a large umber of direct suppliers- companies that make or deliver final products for their restaurants- even McDonalds have larger number of indirect suppliers- companies and farms that grow or process the ingredients that are eventually delivered to their direct suppliers. (Figure1. 1) Figure1. 1 Supplier performance index Import Breath of supply process control equipment No direct control over issues, positive influence by raising questions, bring people to the table and encouraging improvement the McDonalds supply chain. A supply chain driven by point- of- sale date needs a consensus forecast for all stakeholders in the chain- including suppliers, distribution centers and restaurants. Indirect suppliers are primary processing; direct suppliers belong to distribution centers. The distribution centers are the second stage (second echelon, thus making more than one echelon, hence the name, multi- echelon) where safety stock is held. Distribution centers have optimized inventories, and increased product availability and freshness. For example, Quaker, Kraft, Keebler, Carnation, Keystone Foods, J. R. Simplot Co, Coca Cola and Tyson Foods all these suppliers will ship to a distribution centers. These distribution centers include everything from food products to cleaning supplies to replacement parts. Individual stores only make one phone call to re- stock the entire store. When all these suppliers ship to distribution centers and the final step is ship these items to McDonalds restaurants. (Figure 1. 2) Figure 1. 2 McDonalds so successful and their supply chain so efficient is that they then take that technology and share it with the rest of their suppliers so that they can all grow together and create better products. McDonalds Supply Chain in Indian McDonald initiative to set up an efficient supply chain and deploy state-of-art technology changed the entire Indian fast food industry and raised the standards of performance to international levels such McDonalds has worked in the supply chain, their first to open the joint first in McDonalds, brand overseas, which are trying to make, inroads in Indias development partners in a manner that will be with companies from the beginning of the success of McDonalds India successfully by providing all he necessary products from domestic to ensure this McDonalds develop local business that can provide the product quality now. McDonalds has a dedicated supply chain in India and the success of McDonalds India was achieved by sourcing all its required products from within the country. McDonalds success in India had been built on four pillars: limited menu, fresh food, fast service and affordable price. Intense competition and demands for a wider menu, drive- th rough and sit- down meals- encouraged the fast food giant to customize product variety without hampering the efficacy of its supply chain. Today, McDonalds India works with 38 different suppliers based on a long term and several multiple other stand alone restaurants for the needs of many McDonalds distribution centers in India comes in the following order Noida and Kalamboli (Mumbai) in 1996, Bangalore in 2004 and the last one in Kolkata (2007) McDonalds entering the first distribution cooperation agreement in food- related service business. Between 1992 and 1996, when McDonalds opened its first outlet in India, it worked frenetically to put the perfect supply chain in place. McDonalds spent a few years setting up a unique Cold Chain and it was one of the unique concepts of McDonalds supply chain in India, on which it has spent over six years to get systems into place. It trained the local farmers to produce lettuces or potatoes to specifications and worked with a vendor to get the perfect cold chain in place. This system brought about a veritable revolution, immensely benefiting the farmers at one end and enabling customers at retail counters get the highest quality food products, absolutely fresh and at great value. The adoption of clod chain in India could increase the integrity of processed food value chains and reverse post harvest deterioration, which currently sees 40% raw material wastage on an annual basis. McDonalds expands in India, gives the provider the opportunity to expand its business, access to the latest food technology, exposure to advanced agricultural practices and have the ability to grow or export. The Cold Chain is necessary to maintain the integrity of food products and retain their freshness and nutritional value. McDonalds Supply Chain Challenges and its Potential impacts Even stronger focus on freshness and quality To make sure the materials fresh and quality is the biggest challenge for fast food industry. Especially for McDonalds this famous brand that customers will have higher expectation than others. If you get any mistakes on the freshness and quality that will make customers sensitive to take the doubts and do not want to purchase. It will lead our sales and stocks get one big shock. Hence, we are facing the stress that to ensure our products keep freshness and good quality in sustainable. As the potato contingency above suggests in France, the supply chain is one of the most difficult areas to monitor. McDonalds exerts 80-90 percent of its impact on the world from a social responsibility standpoint through its supply chain that they innovative the sustainable supply chain model and use it in the business. When McDonalds purchases beef, for example, it doesnt buy it from a cattle rancher. Typically it is purchased from a supplierÃ¢â¬âone who takes in raw beef and forms it into beef patties. However, some of suppliers for minimize the costs that try to use the frozen storage of beef to do the beef patties. McDonalds always want try to solve this problem, but it isnt so easy. The company doesnt have any direct business dealings with the rancher. It has to exert influence through intermediaries. On-going product innovations As we know McDonalds has its Ramp;amp;D department for research the new product menu and provide to the customers. The innovation at McDonalds it is extremely unique, while it may be spurred by one of our suppliers, is always shared information with the other suppliers. However, McDonalds has to polling the risk on reveal supply chain management information by these suppliers. However, it is one part of the makeup of our relationship based on trust and mutual respect. There is a lot of pride that goes with being the creator of any particular innovation. Another part reason is for the fast food innovation is very important it not only needs to match the features of the fast food industry and also should use the special characters and tastes to attractive consumers. However, it needs the long lead time and high costs. It will make McDonalds sales goes down and take the fluctuation on the profitability. This is one big challenge in the supply chain that is how to minimize the period of the new emerges out of the old. Strong customer demand fluctuations based on promotions At the above we can find these three pictures show the promotions effects on the sales and indirect to reflect the correlation between demand fluctuations with McDonalds promotion. McDonalds uses the McToys as a sales promotional tool to drive interest and Sales. In their product of Happy Meal among the young children the primary target market of McDonalds gets a sales and demand. Even take the out of stock situation in some periods. The desired marketing effect of offering these toys is to renew interest in the Happy Meal product among young children. The toy serves as a special amp;amp;quot;surpriseamp;amp;quot; for this market upon consumption of the primary contents Ã¢â¬â the food. However, after these periods the customers especial for the young children will feel boring about our products. Because of the younger always like the fresh things, hence, sometimes it will lead the McDonalds demand take a fluctuations. It not only affects McDonalds sales and also will take the big challenge on the holding costs or loss profits by the out of stock. Order- and inventory management restaurant Ã¢â¬â DC Ã¢â¬â supplier raw material supplier McDonalds has one big order and inventory system and supply chain. If want make them in a high efficiency and properly operation, that it needs McDonalds have one correct managerial models and strategies. For example, they need based on the per 100 item sales data to forecast the demand. McDonalds is facing a real stress on the system revolution to make it comes with is very useful farmers at one end and the customer over the counter products sold to the highest quality fresh and value complete. And how to use the laser cooling identity, to make the operation run properly to maintain the freshness and nutritional value of raw materials and processed foods. This involves the purchase of inventory, transportation and food retailers all died under temperature control. And they also should know how to calculate the orders accurate. Hence, is one core challenge in the supply chain management? Bull Whip effect Bullwhip is the Key challenge in McDonalds supply chain. The Bullwhip Effect is a main reason for higher costs and problems in supply chains. It describe how small fluctuations in demand at the client level are augmented as orders pass up the supply chain through distributors, manufacturers, and suppliers. In great variety supply chains, the upstream activities react to forecasts, while somewhere on the downstream part the chain waits for orders to be ade. Think about these two former fast food mottos: amp;amp;quot;We Do it all for youamp;amp;quot; proposed by McDonalds and amp;amp;quot;Have it Your Wayamp;amp;quot; by Burger King. McDonalds makes finished hamburgers amp;amp;quot;to forecastamp;amp;quot; Ã¢â¬â McDonalds doesnt know when people would come in for consumption, but they make burgers in anticipation. Burger King prefers to wait u ntil customers actually place (customizable) orders before the burgers are made. This is more frequently known as the amp;amp;quot;Build-to-Orderamp;amp;quot; (BTO) model, while McDonalds strategy up to now is called amp;amp;quot;Build to Stockamp;amp;quot; (BTS). Hence, how to utilize this model solve the fluctuation is the real challenge of they need to consider. Change Management in a de- centralized structure McDonalds supply chain system is so simple system that McDonalds supply chain is based on the three-legged stool concept Company Ã¢â¬â Franchisees Ã¢â¬â Suppliers. Hence, sometimes it leads the react on the problems more slowly compare with other fast food competitors. Hence, Jack Greenberg, the former accountant who last year was named chief executive of McDonalds Corp orchestrated a management realignment that broke up some of the companys internal cliques and divided the organization into five more autonomous regions, which theoretically will be able to react more quickly to local market conditions. It not benefit for them to expand their global market and react in one short time. The realignment also led to the companys first layoffs ever, which reduced some of the bloat that had built up during the chains aggressive domestic expansion. In mid-1990s the American had taken the things like this. Hence, how to realign the structure and solve the problems taken by this decentralized activity are the key points we need to facing in this part. Methods for Solve Problems Build the quality supervised system Quality has always meant ensuring that our customers receive food products that are the result of the best ingredients, strict standards, and proven preparation procedures to guarantee a safe, great tasting product. Currently, McDonald is facing the challenge on sustainable development on he products freshness and quality. Even they have a well down on this part work; however they still cannot ignore the problems always taken in their working process. Hence, we think McDonald can make one supervised system (as in most areas around the world), McDonalds restaurants always use the network of independently owned distribution centers that buy products from Ã¢â¬Ëdirect suppliers Ã¢â¬â those suppliers who are involved in the final stage of the food supply chain and provide McDonalds restaurants with finished food products like hamburger patties and buns. These direct suppliers buy the raw ingredients they use to produce our food products from a far more dispersed network of suppliers. Hence, we need to make the three-stage supervised system. Firstly, we can build the department to supervise the original materials that came from our indirect suppliers and set up the direct connect style to keep communicate with them. Secondly, we can set up the supervisor in the logistic department to make them give us feedback about our direct suppliers information and help us to supervise their materials quality and transportation process. Finally, we can hire the professional supervisor in each of restaurants to check the finish goods and deliver goods, if or not match our standard. McDonalds inspection program(QIP) to investigate the quality of more than 20 points the difference in the Cold Chain setting of Cold Chain to enable them to reduce the loss of operating Hazard Analysis Critical Control Point (HACCP) is the system to focus on food safety protection in place, suppliers and restaurants rather than check on patients or checking status. Information microorganisms according HACCP, control points and control points important for all McDonalds plant food major department stores in India have been identified; Ltd. has been established for those followed by the audit record and correct the deviation. Build the detailed Ramp;amp;D process Consider the McDonalds situation that should pooling the risk with share the innovation information with suppliers and need one long lead time and high costs. Hence, we want advice them to centralized this system and detailed the tasks of process. First of all, McDonald can build some Ramp;amp;D centers in some important regions. Because of McDonald only have three Ramp;amp;D centers (Hong Kong, Indian, American). For minimize the innovative lead time and react immediate about the market demand, I think they should set up two more centers in European and South American. Secondly, I think they should protect their innovative information to reveal to suppliers. Especially that some direct suppliers have the agreement with McDonald on the innovation part. It will help McDonald less opportunity to make our competitors to capture their achievements. At the restaurant level, McDonald can focus in three areas: Energy conservation Ã¢â¬â Find further ways to increase energy efficiency in their restaurants in order to save money and reduce our environmental impacts Sustainable packaging and waste management Ã¢â¬â Continue exploring ways to reduce the environmental impacts of McDonalds consumer packaging and waste in their restaurant operations Green building design Ã¢â¬â Enhance McDonalds strict building standards to incorporate further opportunities for environmental efficiencies and innovation in the design and construction of McDonalds restaurants If Ramp;amp;D centers need to collect some market information and the materials data, can find the internal employees to take responsible on intelligent information collected. Even though, it looks like the costs will be goes high. However, McDonald will less the opportunity of loss and minimizes the fluctuation lead time to ensure the profitability in one stable level. It is in direct to help McDonald decrease the costs. Improve the level of marketing promotion and forecast For avoid the bullwhip effects and the demand fluctuation by the promotional effects. I think McDonald should improve the level of marketing promotion and forecast. They can hire the promotional designer to plan their activities and promotion. They can base on the holiday and commemoration day to setup the activities and also can design different series Mac toys to do the promotion to meet the customers needs. McDonald also needs to build the technical forecast system and use the reasonable methods to prevent the fluctuation in the sales lead time. McDonald can combine the amp;amp;quot;build to orderamp;amp;quot; and amp;amp;quot;build to stockamp;amp;quot; these to system. Make their forecast more accurate and control the bullwhip effects in one small level. Build to stock is frequently considered as an appropriate solution for high volume products where the demand is either seasonal or easily predicted, or both. This model is more nearly about the McDonalds current situation, because of McDonalds demand is highly in usually. And by the long history experience McDonald has the ability to do the accurate forecast; however McDonald has to consider their special service -24hours. In the midnight there is only few people choice to buy as their midnight snack. Hence, if they follow the amp;amp;quot;build to stockamp;amp;quot; in the midnight period will lead in excess of demand. It will make our costs get waste and cannot provide the fresh and high quality products for the customers who order in the midnight. Some firms build all their products to order while others build them to stock. Build to Order in an automotive context as a demand driven production approach where a product is scheduled and built in response to a confirmed order received for it from a final customer. The final customer refers to a known individual owner and excludes all orders by the original equipment manufacturer OEM, national sales companies [NSC], dealers or point of sales, bulk orders or other intermediaries in the supply chain. Hence, in the McDonalds midnight service is most closed to these conditions. Given the widespread proliferation of products, there are a number of manufacturers taking a hybrid approach, where some items are built to stock and others are built to order. Hence, I think build these to models combine in the supply chain system will help get one sustainable demand and minimize unnecessary loss on costs. Build the direct supply system In MacDonald, there are many direct suppliers to provide the goods and materials that purchase from the indirect suppliers. It will lead the McDonalds costs goes high and the quality of the materials cannot ensure match the standard level. Hence, McDonald can setup the internal direct suppliers. Such as purchase the land to develop the agriculture on planting and farm. They can make the Ramp;amp;D center to take responsible in this part. Go for this way will make McDonald can have one strong control on their materials quality and also can decrease the lead time with the high costs in the supply chain process. By another way is it will immediate to react to the fluctuation in the marketing. The McDonalds Agricultural Assurance Programme (MAAP) is the tool use to assess the agricultural production standards employed in growing the farm products used in the menu. MAAP covers our core agricultural products; including beef, chicken, eggs, ilk, cheese, potatoes, wheat, lettuce, tomatoes and cucumber. The Flagship Farm project builds on our MAAP approach, by identifying some of the progressive farmers in our supply chain that exemplify good practice in their specific area, and are comfortable sharing those good practices. Use this tool to try and ensure the source more products fro m farms that work to higher standards. Build this direct supply system will contribute to McDonald to monitor and control the quality, safety and sustainability of the raw materials entering the supply chain. Build the decentralized structure By the reason of global integration that McDonalds market is keeping expand. Build decentralized structure, and the variability of environmental issues across regions, there is no amp;amp;quot;one size fits allamp;amp;quot; approach. It will provide the breadth and scope of McDonalds supply chain operations at the same time. Compare with their current business scale, the structure system especial for the supply chain part is more centralize. Hence, it will affect the working efficiency and increase the lead time. Hence, to build the decentralized structure in the supply chain system is necessarily. Firstly, they can build the supply chain information system to take responsible on collect the any feedbacks and intelligent information that stay in the supply chain. Secondly, build the network control system in different regions. Can immediate react on the problems taken in the supply chain. Thirdly, setup the communication center to ensure each hierarchy of supply chain can keep the communication just in time. Moreover, setup the transportation system and emergency center. If taken any problems on the supply chain allocate can change the original plan immediately. Finally, build the supervised network to make sure the safety and quality of the process and materials. Recommendation As far as we are concerned the manager should have a clear business philosophy. Supply chain is one very important part especially for the multinational company. The supply chain will decide what products or services of they can offered and which level of sales they can achieve. McDonalds is the famous brand in the fast food industry. Hence, the customers have the high expectation and demand on this brand. Hence, for the future McDonalds it is better to build the global supply chain network. McDonalds can use the advanced electronic tools such as the internet to make all the restaurants share the supply chain information. For different regions it can setup the department to take responsible to manage the problems taken in the supply chain. Normally, the McDonalds products will have the fluctuation period from the promotion start to finish. And it also effect by the local market and economic environment. Hence, this department can control the market information at any time and do the logistic job to the point. Another way McDonald can complete the direct suppliers relation to take the direct controlling on them, less the outsourcing from the external suppliers. It will ensure the materials quality and also will decrease some costs on transportation and materials waste. Moreover we think MacDonald can ask the Ramp;amp;D center to research and develop the supply chain, that take care on how to do the right forecast to minimize the fluctuation and how to improve the working effectively? We believe by McDonalds advanced management system they will have the good development on their supply chain in the future. Conclusion In this report we are mainly talk about the McDonalds supply chain system that also includes their management process, strategy and implementation work. From the analysis we find some problems on the supply chain work that McDonald needs to challenge. Hence, we try to provide some ideas to help McDonald to solve the related problems on the supply chain management work. Thus, under analysis supply chain part, we mainly describe how supply chain used with a business, and introduce strategy and process in McDonalds. We also have a graph to explain how McDonalds use supply chain and use the real case to analysis how McDonalds uses supply chain in Indian and the reason of why it get success in Indian. Therefore, the objective of this seminar is to make a profound qualitative and quantitative case analysis within the context of sustainable supply and demand chain management. Finally, we try to base on the analysis we have down at before and support some methods to solve them. And we also provide the recommendation for the supply chain management; we believe by McDonalds advanced management system they will have a sustainable development on the business, especially for the supply chain management. References Holweg, M. and Pil, F. (2001), Ã¢â¬ËSuccessful Build-to-Order Strategies start with the Customer, MIT Sloan Management Review, Fall issue, Vol. 43, No. 1, p. 74-83 Holweg, M. and Pil, F. 2004), Ã¢â¬ËThe Second Century: Reconnecting Customer and Value Chain through Build-to-Order, Cambridge, MA and London, UK: The MIT Press. Parry, G. and Graves, A. , Eds. (2008), Build to Order: The Road to the 5-Day Car, London: Springer Verlag. Beamon, B. M (1996), amp;amp;quot;Performance measures in supply chain managementamp;amp;quot;, Proceedings of the 1996 Conference on Agile and Intelligent Manufacturing Systems, Rensselaer Polytechnic Institute, Troy, New York, NY Christopher, M. (1994), Logistics and Supply Chain Management, New York, NY Johnson, J. B. , Randolph, S (1995), amp;amp;quot;Brief: making alliances work Ã¢â¬â using a computer-based management system to integrate the supply chainamp;amp;quot;, Journal of Petroleum Technology, Vol. 47 No. , pp. 512-13 Maskell, B. H. (1991), Performance Measurement for World Class Manufacturing, Productivity Press, Portland, OR Slack, N. (1991), The Manufacturing Advantage, Mercury Books, London McDonalds Corporation (2008). About McDonalds/McDonalds History (online). Available at: http://www. mcdonalds. com/corp/about. html. Retrieve April 28, 2008 McDonalds Corporation UK (2008). Eat Smart/Whats On/Good News (online). Available at: http://www. mcdonalds. co. uk/ Retrieve April 28, 2008 Lee, Hau L. , and V. Padm anabhan. amp;amp;quot;The Bullwhip Effect in Supply Chains. amp;amp;quot; Sloan Management Review 38, no. 3 (Spring 1997): 93-103. Docstocamp;amp;quot;McDonalds-Company-Background-Products-Competitors-And-Positioningamp;amp;quot; (online) http://www. docstoc. com/docs/9481476/McDonalds-Company-Background-Products-Competitors-And-Positioning [accessed at 24 AUG 2010] About McDonalds (online) http://www. aboutmcdonalds. com/mcd [accessed at 25 AUG 2010] About McDonalds (online) Report amp;amp;quot;sustainable_supply_chainamp;amp;quot; http://www. aboutmcdonalds. com/mcd/csr/report/sustainable_supply_chain. html [accessed at 25 AUG 2010] SCRIBD amp;amp;quot;McDonalds-INDAIN-supply-chainamp;amp;quot; (online) http://www. scribd. com/doc/21803927/McDonalds-INDAIN-supply-chain [accessed at 23 AUG 2010] Essays Professors samples business
Friday, March 20, 2020
Book review on the cold war by mike sewell essays For 50 years the world was dominated by two superpowers. The cold war was a confrontation between the United States and Soviet Union, with the belief that the ideology of the other side had to be destroyed. The Soviet Union believed that the conflict between capitalism and communism was inevitable. The United States believed that peace and stability in the world would only emerge when the evil of communism was abolished. The cold war was a significant era in the history of the world as it shapes the economic, political and the ideological world today. Mike Sewells The Cold War thoroughly covers all stages of this era chronologically, from its origins, the confrontation between the powers and the collapse of the communist party in the early 1990s throughout seven sections. One of the positive aspects of reading the cold war is that it is based on a monograph therefore confined to the study of one topic. Whereas reading a book like world history since 1945, by jack Watson may give you broader knowledge of a longer period however it does not go into depth about each topic so the reader is only left with basic knowledge about the particular topic. The vocabulary used by mike Sewell is straightforward which is a positive aspect due to the reason that its is a core textbook at a-level history therefore it is more accessible to a wider audience, as well as students who are more able to understand. As a student, this book may be helpful for the reason that it provides questions at the end of each chapter regarding what has just been discussed. This can be seen to be a positive aspect during revision of the topic. The cold war is crucial era in history and many writers have written and commented on the time, mostly with conflicting views. Mike Sewell has based most of his writing on previous books. At the beginning of each chapter he allows the reader to be aware of these references by providing footnotes to back up his op ...
Wednesday, March 4, 2020
The Harold Long Form Improv Game Activity The Harold is a long form improv activity first developed in the 60s by theater director/teacher Del Close. Long-form improvisational activities allow actors more time to develop believable characters and organic storylines. Whether the performance is a comedy or a drama is entirely up to the cast members. Long form improv can last from 10 to 45 minutes (or beyond)! If done well, it can be absolutely mesmerizing. If done poorly it can elicit snoring sounds from the audience. It begins with a suggestion from the audience. Can someone name an object?Okay, people, choose an emotion.What is an activity you did yesterday?Name your favorite / least favorite word. Once selected, the word, phrase, or idea becomes the centerpiece for the Harold. There are limitless ways to begin the improv. Here are a few possibilities: Each cast member delivers an impromptu monolog.A word association game is played.The cast does an interpretative dance based on the suggestion.Each cast member recaps a personal (or fictional) memory connected with the audiences suggestion. The Basic Structure During the opener, cast members should listen intently and utilize some of the material In later scenes. The opening scene is usually followed by: Three vignettes related to the theme.A group theater game (involving some or all cast members).Several more vignettes.Another group theater game.Two or three final scenes that pull together the various themes, characters, and ideas that have been developing throughout the performance. Heres an example of what might happen: The Opener Cast member: (Speaking cheerfully to the audience.) For our next scene, we need a suggestion from the audience. Please name the first word that comes to mind. Audience Member: Popsicle! The cast members might then gather around, pretending to look at a popsicle. Cast Member #1: You are a popsicle. Cast Member #2: You are cold and sticky. Cast Member #3: You are in a freezer next to the waffles and beneath the empty ice cube tray. Cast Member #4: You come in many flavors. Cast Member #1: Your orange flavor tastes like orange. Cast Member #2: But your grape flavor tastes nothing like a grape. Cast Member #3: Sometimes your stick tells a joke or a riddle. Cast Member #4: A man in an ice cream truck carries you from one neighborhood to the next, while sugar-starved children chase after you. This can go on a lot more, and as stated above there are many different variations of the Harold beginning. Typically, whatever is mentioned in the opening might become a theme or a topic of an upcoming scene. (Thats why having a good memory is a bonus for Harold participants.) Stage One Next, the first set of three brief scenes begins. Ideally, they might all touch upon the theme of popsicles. However, the actors may choose to draw out other ideas mentioned in the moderators monolog (childhood nostalgia, dealing with grown-ups, sticky food, etc). Scene A1: Hyperactive children pester their mother for a popsicle, but first they must do their chores.Scene A2: A popsicle discusses life in the freezer with his friends Mr. and Mrs. Waffle.Scene A3: A trainee experiences her first day at the Popsicle Factory, working as a writer of lame jokes to be placed on the popsicle stick. Noises, music, cast member gestures, and interaction can take place throughout, helping to transition from one scene to him next. Stage Two: Group Game Whereas the previous scenes may have involved several cast members, Stage two typically involves the entire cast. Note: The games used should be organic. They might be something often seen in improv shows, such as freeze or alphabet; however, the game could also be something spontaneously created, some sort of pattern, activity or scene structure that one cast member generates. the fellow cast members should be able to tell what the new game is, then join in. Stage Three The group game is followed by another series of vignettes. The cast members may choose to broaden or narrow the theme. For example, each scene might explore The History of Popsicles. Scene B1: Popsicles during Cavemen TimesScene B2: Popsicles during the Middle Ages.Scene B3: Popsicles during the Old West. Stage Four Another game is in order, preferably involving the entire cast. This one should be very lively to build the energy for the final portions of the Harold. (In my humble opinion, this is the perfect spot for an improvised musical number but it all depends on Stage Five Finally, the Harold concludes with several more vignettes, hopefully calling back to several of the topics, ideas, even characters that have been explored earlier in the piece. Possible examples (although it seems counter-intuitive to give written out examples of improv ideas!) Scene C1: Caveman experiences worlds first case of brain freeze.Scene C2: Mr. and Mrs. Waffle decide to see other people; she visits the fridge.Scene C3: The Ice Cream Man is on his death bed, and his life flashes before his eyes. If the cast members are clever, which I am sure they are, they could tie the ending with material from the beginning. However, the Harold doesnt need to tie everything together to be fun or successful. A Harold might begin with a specific topic (like popsicles) but drift away too many different subjects, themes, and characters. And thats fine too. Remember, any improv game can be changed to suit the needs of the cast and the audience. Have fun with the Harold!