Walmarts Business Background - Free Essay Example

Sample details Pages: 3 Words: 828 Downloads: 9 Date added: 2019/08/08 Category Business Essay Level High school Tags: Walmart Essay Did you like this example? Business Background Sam Walton was an up-rising business owner before he unlocked the doors for the beginning of Walmart? © in 1962. He and his wife operated the Ben Franklin? ©. discount dime chain stores, Sam Walton had a vision for the outlook of his new store, which is similar to the mission statement for Walmart? © today To have Lowest prices anytime, anywhere. According to my research on corporate.walmart.com? ©, Sam Walton was prosperous in the first five-year duration with a revenue of $12.7 million. In 1970, the company became publicly traded. The Walton family are a big part of Walmart? ©, as they are controlling shareholders of the company. A decade passes, and the company celebrated making $1 billion. Soon after that success, the doors of the first Walmart Supercenter? ©, and Sams Club opened for the public. Sadly, Sam Walton died of cancer in 1992. Our History, Our story. N.D. https://Corporate.walmart.com? © Don’t waste time! Our writers will create an original "Walmarts Business Background" essay for you Create order Mission Statement Sam Walton received The Presidential Medal of Freedom from the President before his death, he designed a goal for the company with these words, If we work together, well lower the cost of living for everyone. Well give an opportunity to see what its like to save and have a better life. Our mission https://corporate.walmartour/mission.com? © Walmarts? © goal providing the lowest prices is hurting the image and innovation Sam Walton built and problematic for unemployment in our nation. What it costs for wages and production are cheap in third world countries. This causes a problem for the American economy due to, a large amount of jobs is sent overseas. This is one of the reasons for unemployment in America. Workplace Environment Walmart? © is a hierarchy organization, this is because people in the organization are at a position from a subordinate to senior levels which enforces rules. There is a diversity of people with different cultures employed with Walmart. The company offers programs to help their associates build their careers within Walmart? © Working with us N.D. https//corporate.walmart.com Although, the company can also afford to pay every employee $12 an hour and still maintain a profit, nonetheless they do not. I interviewed three employees at my local Walmart? ©, According to their website it states there is open door policy for employee and managers to communicate any work-related problems and the issue would be resolved at best that same day. The employees I interviewed found that to be hypocritical. Sonya, an associate in Bakery and Deli, an employee at Lakewood, Colorado, Walmart? © for five years stated: The store very often has had a turnover in management and whenever we get a decent manager they get transferred or quit. I reviewed questions and answers online from employees about the workplace environment on website Indeed.com? ©. The posts regarding the workplace environment at Walmart? © are that it is a fast-paced environment. The employees made complaints that they are expected to do more than the job criteria. There were some positive reviews, however employees are concerned of the fact they are working part time, but feel they are working full-time hours, without the benefits. Over one third of the employees are part-time and do not qualify for health benefits. The full-time employees cannot afford the health plan benefits Walmart? © offers, since the cost is thirty five percent of their salary. This causes the employees to rely on government assistance in some cases. Working at Walmart case study.https://123HelpMe.waorking-in-walmart.com Marketing Mix Walmart? © remains in competition with other stores, therefore the company must maintain a strategy in the marketing mix. The corporation offers customers one stop shopping convenience with assistance from sales associates. This influences how the customer feels as they shop. The pricing strategy falls on the lowest prices they offer every day, this will generate business and contribute to competitiveness Walmarts? © promotional mix is an arrangement of public relations, promotions and sales, such as the Rollback displays throughout the store along with the price match, where the shopper shows a lower price Walmart? © will match the price. This will help the company attract customers into the stores. Walmart? © continues to open new stores in different areas to reach more customers to give people convenient shopping with lower prices. Financial Indicators The data I am sharing in my report is based on Walmarts? © financials in the United States. Overall, Walmarts? © 2018 annual report shows $500 billion in total revenue. This is an achievement for Walmarts? ©, it is a record breaking amount. The companies operating cash summed to $28.3 billion and returned $14.4 billion in dividends and share repurchases to shareholders. Walmart earnings of 2018 beat estimates. N.D. www.cbnc.com. The company put money in redesigning the Walmart website to compete with Amazon, overall online earnings exceeded 40 percent. However, online grocery shopping may decrease as the company is investing to add more delivery options. Further, in attempt to improve their relationship with customers and employees they increased wages. Walmart beats on earnings and revenues. N.D. www.cbnc.com.

Gender Bias On The Classroom - 1112 Words

Gender Bias In The Classroom Gender roles are widely accepted societal expectations about how males and females should behave (Rathus, 2010, pg. 447). Gender roles create a difference in the way that masculine and feminine behaviors are accepted among society. Gender roles are often depicted as just a part of who a person is and help better define the difference between male and female. When society begins to use these gender roles as norms we often see those who don’t fit into the correct role become ostracized by society. When these gender roles become rigid they can become gender stereotypes. These stereotypes are fixed and oversimplified beliefs about the way in which men and women ought to behave (Rathus, 2010, pg. 447). One of the most common gender stereotypes is that men are the breadwinners and women are the homemakers. These stereotypes also carry into emotions as well, women being more likely to feel sadness, fear and sympathy, while men are more likely to feel ange r and pride. Another area where gender stereotypes can be observed is in the work place with women taking jobs such as nursing and teaching, and men holding jobs in fields like medicine and law. (Rathus, 2010, pg. 447). There are many physical, cognitive, personality, and behavioral differences between genders. Physically men and women have different primary and secondary sex characteristics. The primary sex characteristics are the organs of the reproductive system where women have ovaries and menShow MoreRelatedEssay on Gender Bias in the Classroom1589 Words   |  7 PagesGender Bias in the Classroom RESEARCH IN CHILD DEVELOPMENT AND THEORIES OF LEARNING Gender inequity is not only learned and accepted in the socialization process that starts at home, but is also present in the school environment form the very early years. Parents and teachers consciously or unconsciously reinforce sex stereotypes. In 1992 Olivares and Rosenthals research findings examined three areas: Read MoreThe Gender Biases Of Children1325 Words   |  6 PagesThe gender biases learned in schools are revealed later in the workplace, further revealing the impact it can have. Students’ talents may go unrecognized and undeveloped simply because they were not appropriate for their gender norms created by society. A young boy who likes to dance may not want his male friends to know about his hobby for fear of being bullied. Because dancing is predominantly feminine, the young boy is not fulfilling his masculine role for his friends, therefore trying to hideRead More Reflective Research Paper1164 Words   |  5 Pages I have connected the reflective research paper to objective # 1 because it made me examine my personal belief and attitude on gender equity issues. I did not realize that gender equity existed at the level that it does until researching the topic. Doing the research made me realize that the way we teach directly affects how children learn in every aspect. Gender inequities in the fields of math and science are well researched and the results are shocking. Women compromise 45% of the workRead MoreGender Stereotyping And Gender Stereotypes848 Words   |  4 PagesGender stereotyping is one of the most controversial topics in the field of education. Professionals are constantly trying to find efficient and effective ways to monitor not only teachers and administrators, but the students as well, to be sure that gender stereotyping and gender biases are kept to the minimum within the school environment. With the goal of neither gender biases nor gender stereotyping in the school system, higher educational professionals constantly seek and research to find waysRead MoreRhetorical Analysis : Hidden Lessons 975 Words   |  4 Pagesâ€Å"cherry picking† evidence the authors’ attempts to establish male gender bias is being practiced in the classroom. The claim of teachers generating specific male friendly behavior may be hurting female’s self-esteem, learning capabilities, and even career options. However, the explanations as to why there is lower self- esteem in female students, due to educators behavior is vague. Nevertheless, proving gender behavior in the classroom would be convincing if the authors had included critical detailsRead MoreEssay about Encouraging Girls in Math and Science1599 Words   |  7 PagesEncouraging Girls in Math and Science An ideal classroom in an elementary school would allow both boys and girls to learn fairly, equally, and also be encouraged to be involved in the classroom. The teacher would expect the same effort from the boys as well as the girls. The teacher would implement a respectful atmosphere where the teacher as well as the students would respect one another. The reality is that girls quickly become discouraged to pursue math and/or science relatedRead MoreGender Bias As An Expert From Their Book Failing At Fairness : How Our Schools Cheat Girls864 Words   |  4 Pages(Sadker 54-56). By â€Å"cherry picking† evidence the authors’ attempts to prove gender bias is being practiced in the class room. The claim of teachers generating specific male friendly behaviors are hurting female’s self-esteem, learning capabilities, and even career options. Explanations as to why there is lower self- esteem in female students, due to educators behavior is vague. Proving gender behavior in the classroom would convincing if the authors had included critical details, for exampleRead MoreGender And Cultural Studies ( Ihs -308 ) Essay1121 Words   |  5 PagesGENDER AND CLASSROOM A course write-up Submitted as a part of the course Gender and Cultural Studies (IHS –308) Submitted By: KARUNA SHAKYAWAL B.Tech. III Yr (13115078) Dept. Electrical Engg. Date : 10 Feb. 2016 Gender and Cultural Studies Introduction This write-up presents the classroom interaction with reference to gender and different types of behaviour with boys and girls on the basis of gender are discussed. As we know that in classroom many times girls have to face some kind of problems. EvenRead MoreGender Bias in Education680 Words   |  3 PagesGender bias has existed in education since the inception of schooling. According to the National Women’s History Museum (NWHM), during the 1700’s, women were denied access to secondary schooling, and were only given the most basic education deemed necessary to fulfill the â€Å"women’s duties† (NWHM 1). Research from the National Coalition for Women and Girls in Education (NCWGE) has shown that when Title IX was introduced in 1972, girls were able to participate in any state-funded activity, resultingRead MoreEssential Criteria for Evaluating Educational Assessments Essay1323 Words   |  6 PagesDefinition Absence-of-Bias is just as the name implies, there is no bias present. It is the last of the three essential criteria for evaluating educational assessments. The other two are reliability and validity. Assessment bias is a part of an assessment that disadvantages a certain group of people because of their gender, race, socioeconomic status, or any other group-defining characteristic. It occurs when an element of an assessment â€Å"distorts a student’s performance†(Popham 2014 p.128). The

Understanding Customer Behaviour How it Can Increase Our Sales - Free Essay Example

Sample details Pages: 4 Words: 1279 Downloads: 4 Date added: 2017/06/26 Category Marketing Essay Type Narrative essay Did you like this example? Understanding customer behaviour à ¢Ã¢â€š ¬Ã¢â‚¬Å" how it can increase our sales The study of consumer behaviour is an important part of the managerialist approach to marketing. If the management team of Toga Toys can come to a better understanding of why people behave as they do, it should be possible to develop products which have a better chance of success in the marketplace and hence increase the sales. Over and above the interests of firms, there is a societal interest in seeking to understand consumer behaviour. à ¢Ã¢â€š ¬Ã‹Å"à ¢Ã¢â€š ¬Ã¢â€ž ¢Consumer behavior is the mental, emotional and physical activities that people engage in when selecting, purchasing, using, and disposing of products and services so as to satisfy needs and desiresà ¢Ã¢â€š ¬Ã¢â€ž ¢Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢. (Lutz 1989) In order to understand the consumer behaviour, the managers must first understand the consumer personality and all the factors that can influence and motivate the i ndividual, like the thinking, the feeling and the attitude. For instance looking at the attitude of children of a certain generation and being careful at the same time to what education the parents want to assign to their children. And, through those observations create such a toy that will satisfy both parent and children, making them thus fully happy and sharing a moment playing together. During the twentieth century Freudà ¢Ã¢â€š ¬Ã¢â€ž ¢s theories had an immense impact on the study of psychology, linguistics and social theory that continues to this day. Freudà ¢Ã¢â€š ¬Ã¢â€ž ¢s relevance to the understanding of consumer behaviour is diverse. One major benefit of the Freudian approach is that it highlights unconscious and conflictual processes as part of its explanation of consumer behaviour. Freudà ¢Ã¢â€š ¬Ã¢â€ž ¢s major contribution comes from his representation of the struggle between biology and social forces which are mediated by the self. Additionally, Freud has suppli ed a rich vocabulary, including concepts such as id, ego and superego to enable others who wish, to explore the effects of consumer goods on consciousness. The psychoanalytic, behaviorist and cognitive approaches to understanding consumer buyer behaviour have each different consequence for the explanation of behaviour. For example, Freudian views stress the role of unconscious desire in motivating buyer behaviour. While there are still many researchers who are inspired by Freudian theory and who are working to uncover the underlying unconscious motives of buyer behaviour, the cognitive problem solving approach is currently dominant. This approach has much to offer, in that it explains both extended and routine behaviours in addition to the conditions of high and low-involvement. While Freudians place the unconscious motivation of desire as the central motivation for behaviour; cognitivists emphasise the idea that complex behaviour becomes gradually routinized and subconscious over time, freeing up valuable attention for other activities. There is no doubt that the cognitive approach to consumer buyer behaviour is most useful, as it incorporates concepts such as beliefs, attitudes and intentions. However, this model can be criticised by behaviourists who argue that their explanation is simpler and more effective. Consumers might not know that their specific needs exist at all. Marketers might stress the fact that since consumers are not always conscious of their needs, it might be possible to create a need and market it to them. In their unconscious minds, consumers might feel the desire to solve a problem. Marketers need to tap into that desire and design it into a product that would then create the need for that product. The iPad can be a good example. At the back of their minds, consumers might have always wanted to carry a lot of books that they would read whenever and wherever they wished to. iPad successfully solves that problem and has been of p henomenal value and use to customers. à ¢Ã¢â€š ¬Ã‹Å"à ¢Ã¢â€š ¬Ã¢â€ž ¢Toga Toysà ¢Ã¢â€š ¬Ã¢â€ž ¢Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢ has a reputation for being innovative and manufacturing toys that help educate children as well as being fun to play with. To see the sales growing our company must then adopt a similar approach by creating toys with features that will fully satisfy both parent and children and therefore that will contribute positively and significantly to the education of these kids. At birth individuals are identified with those forms of signification which are associated with our parents and which mark their identities for example with their class position, religion or ethnicity which are transferred to individuals. While undoubtedly identity is given to us by society, it is true that a stable identity is something which individuals strive for as it provides a sense of belongingness, of à ¢Ã¢â€š ¬Ã‹Å"homeà ¢Ã¢â€š ¬Ã¢â€ž ¢. Outside of our own skins, the family is where we ar e likely to feel most at home. That is why Toga Toys need to analyze consumersà ¢Ã¢â€š ¬Ã¢â€ž ¢ behaviour carefully according to their personality and their environment, thus their relationships with their parents and friends and deal with this information collected to respond efficiently to this unconscious demand. Advertising and other communications may be used to build and maintain a high level of brand awareness and to provoke sufficient interest in a proportion of consumers that will lead them to try the product. Advertising may involve vicarious learning by showing people who look similar to those from the target group enjoying and benefiting from using the product. An advertising showing children with their parents having fun playing with SPELLWHIZ for example, would definitely push the younger and more aged spectators toward the product that might make them both having fun and allowing the children to learn how to spell while making them sharing a good time with their p arents. Also, advertisement will offer to Toga Toys opportunities to build a reliable reputation and to straighten the brand image by presenting the diverse products so as to make the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s name more familiar and recognized. The idea behind vicarious learning is that it is cost-free to the extent that one can observe and copy the behaviour of others if that is seen to be successfully reinforced or alternatively one can avoid what they do if one observes negative consequences (Bandura, 1972). For instance Toga Toys could detect how its competitors such as à ¢Ã¢â€š ¬Ã‹Å"à ¢Ã¢â€š ¬Ã¢â€ž ¢Fun Kids plcà ¢Ã¢â€š ¬Ã¢â€ž ¢Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢ or à ¢Ã¢â€š ¬Ã‹Å"à ¢Ã¢â€š ¬Ã¢â€ž ¢Global Toys plc à ¢Ã¢â€š ¬Ã¢â€ž ¢Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢ are dealing with their customers, and then adopt the same approach so as to limit the costs and avoid them to meet undesirable situations. Advertisers often promote indirect learning by showing the negative results that arise if people do not use their products and social support for those who do. Interest in trial may be further enhanced by means of an introductory trial offer coupled to eye-catching signage and a prominent placement position. Perhaps the most obvious means of encouraging trial is to ensure that there is a sufficient stock of the brand available to ensure that every customer can find the shape and size that they require. Toga Toys could participate to various toys related events either professional or customer oriented. In professional events the company could present its products to industry buyers, in return these buyers offer their feedback. The same approach applies to customer oriented events where those customers will be able to try, test and buy the product and also provide feedback. Both types of events will therefore help Toga Toys understand the place of its product in the market and adapt it to the demand. Both the psychological and social development plays an important role on influencing the purchase decisions. Marketers should take them into account when trying to persuade the consumers by different means of communication. For instance, a storytelling could connect the customers more to the brand emotionally. Another way of persuasion could be creating characters that the consumers will like and cheer for. Toga Toys could then create new characters inspired from a famous Cartoon to which the children refer to. REFERENCES: Edinburgh Business School Heriot Watt University Manuals Don’t waste time! Our writers will create an original "Understanding Customer Behaviour How it Can Increase Our Sales" essay for you Create order

Financial Crisis Bank Run And Bankruptcy Essay - 3679 Words

1. Type of Crisis 1.1 Bank Run and Bankruptcy Bank run is situation when there are more depositors who withdrawal their money than investor who invest their money in the bank, due to issue of the bank experiencing financial problems. As many depositor who took their money in the bank, it makes the other depositors fear and panic, thus they also withdraw their savings. In some cases banks do not have eneough money. While, bankruptcy is a condition when a person or company can not pay their overdue debts. Bankruptcy process starts when the creditor and debtor began to file a lawsuit. Afterwards all of the assets of the creditor will be counted and seized in order to pay their debts. Subsequently all the debts paid off, the creditor will be decleared free from bankruptcy. (investopedia) 1.2 Fiscal crisis Fiscal crisis is a situation where the goverment can not pay for daily routine such as provide the social service and national defense. Fiscal crisis that experienced by the goverment give an impact to the lower unit, for instance country or state, province and city to face their own fiscal crisis. The goverment can not balance the fund when fiscal crisis occurs. They can not take sufficient funds to cover expense and can not raise the fund due to too much debt. Fiscal crisis lead to snowball effect, which means every financial problems contributed to the chaos and problems that will occur. (fsikal.co.id) While according to Tejvan Pettinger (2010), fiscal crisis leads to aShow MoreRelatedLehman Brothers And The Subprime Mortgage Crisis Essay1119 Words   |  5 PagesLehman Brothers filed for Chapter 11 Bankruptcy, the largest filing for bankruptcy in the history of the United States (U.S.). During this time, Lehman Brothers was the fourth largest investment firm in the U.S. It decla red $639 billion in assets and $613 billion in debts (Wiggins, Piontek, Metrick, 2014). They had come a long way from a general store in Alabama back in the 1800’s. This company’s downfall can mostly be blamed on the subprime mortgage crisis of 2007/2008, surely there are many otherRead MoreNotes On The Financial System1290 Words   |  6 Pages1- Introduction Over the last decade, the financial system around the world has faced several deficits due to liquidity problems. In 2007, during the financial crisis, global banking system experienced sudden demands for cash from various borrowers which have led some banks to declare bankruptcy (Berrospide, 2013). Liquidity can be defined as the availability of cash or cash equivalent to deal with predicted and unpredicted obligations claims. In other words, it is the ability to effectively meetRead MoreMoney Market Should Not Drop Below A Dollar1392 Words   |  6 Pageselsewhere. (Rice) However, during the financial crisis of 2008, the dollar dropped below a dollar. This occurred after one of the largest U.S. bankruptcy cases to ever happen. This was the Lehman Brothers who filed for bankruptcy causing a massive issue within the U.S. financial situation. This helped lead into the biggest financial crisis since the great depression. Kimberly Amadeo of The Balance.com explains the crisis stating â€Å"the 2008 financial crisis is the worst economic disaster since theRead MoreThe Global Financial Crisis During The Great Depression Of The 1930s1103 Words   |  5 PagesGLOBAL FINANCIAL CRISIS† A financial crisis is a situation in which the value of financial institutions or assets drops rapidly. A financial crisis is often associated with a panic or a run on the banks, in which investors sell off assets or withdraw money from savings accounts with the expectation that the value of those assets will drop if they remain at a financial institution. 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Lehman’s fall contributed to a loss of confidence in other banks, a worldwide financial crisis and a deep recessionRead MoreFinancial Crisis : The Financial System1304 Words   |  6 Pages2007 - 2009 financial crisis was the worst financial and economic crisis since the 1929 stock market collapse leading to the Great Depression, hence it has been dubbed the Great recession. This disruption in the economy due to the lost confidence in the financial institutions undermined the stability of the financial system and led to the loss of jobs and trillions of dollars in wealth and savings for entities within the economy. The gravity of the U.S crisis influenced the global financial system leadingRead MoreWhy The Real Estate Boom Will Not Bust Essay903 Words   |  4 PagesIn the mid-2000’s, the US experienced an economic boom and many cashed in. Between 1975 and 2007 the price of real estate steadily increased and investing in real estate was considered smart and safe (Baily, Litam, Johnson, 2008, p. 11). Banks were willing to negotiate loans with any borrower, even those with poor credit, (called â€Å"subprime† mortgages). With this easy credit, the economy appeared strong. Housing prices continued to climb at an incredible rate, thereby creating a real estate â€Å"bubble†Read MoreU.s. Government And Federal Reserve927 Words   |  4 Pagesbackground on the Financial Crisis of 2008/2009. The Financial Crisis began in December of 2007, and by the fall of 2008 the economy was in huge downfall. This all began in August of 2007 because of defaults in the subprime mortgage market, which sent a shudder through the financial markets. The former chairman of the Federal Reserve described the crisis of 2008/2009 as a â€Å"once-in-a-century credit tsunami†. Many firms including commercial banks, Wall Street firms, investment banks, all suffered significant

Diary Entry for Macbeth Free Essays

The witches have just told me their prophecy and I don’t know what to think. I have to tell my wife, she is an ambitious women and will be thrilled to find out the news. That in my future I will no longer be thane of Cawdor. We will write a custom essay sample on Diary Entry for Macbeth or any similar topic only for you Order Now I will move on to bigger and better things. For prophesised in my future I will become the great King of Scotland. But how am I to achieve these goals of becoming a king. Duncan is a dear friend of mine and trusts me like a brother. How possibly could I deceive him, however although I cherish the friendship of the king I don’t see him fit for the thrown. I am the one who needs to be in charge, to lead the people of Scotland to glory. I deserve the thrown. How can I harbour these thoughts they are thoughts of evil. King Duncan doesn’t deserve this treachery. He is the King, the man chosen from God to lead the Scottish people. Im not sure on what I am to do, but when I meet with my wife we shall decide together. She usually knows what is right. For now i will try to get a good sleep and think about the long journey back home. During The Murder As I put the pillow to Duncan’s chest I felt sick, I felt like no body could trust me. For Duncan is a friend, how should my friends let alone my enemies think. So I put the dagger down and quickly thought of turning back. I saw the look in his eyes, he wouldn’t forgive me if I turned back now he would send me to prison. So I built up all my courage and stabbed the dagger through his chest, then a second time through his heart to make sure the great king was dead. As soon as I was finished my unholy deed I fled back to room where my wife would meet me. As I got back I had realised I had forgotten to frame the guards and cover up my tracks. As I was to shocked, devastated and had partially lost my mind I couldn’t complete the deed, so my wife had to cover my tracks. I felt less of a man but what was done had to be done and then it was over. After The Murder What have I done, it’s all a mistake. Duncan is a great man loved by many, he didn’t deserve to die such a painful death, in fact he didn’t deserve to die at all. My wife she has corrupted me, but she is not to blame because I am the one who covered the Kings mouth to stop his loud screams from escaping his chamber, and I am the one who slowly dug the dagger through his bare chest till he could not scream any more, till he slept not only for a night but eternally. I have no idea what to do, I am so confused. Should I tell people the atrocity that took place last night in my castle? I feel so alone in the world and I cannot tell my wife these feelings of guilt and regret because she is like a heartless demon, she will taught my feelings till I have no goodness left in me. Although it will be difficult I shall keep this secret safely kept in my bosom so that she will not taunt my feelings and feel I am the weakest link and that I will spoil our plans of becoming royalty. How to cite Diary Entry for Macbeth, Papers

Brisbane Operations Management

Question: Discuss about theBrisbane Operations Management. Answer: Introduction In the current economic market, practicing one concept, however much it pays does not guarantee success. There is constant pressure in innovation that brings new means of production hence the need to change according to trends. According to Cachon, Fisher, (2000), effective inventory management remains core to the excellence of management excellence. During the recession, it is vital to cut down costs by engaging in stock improvements and logistics plans. Purchase and Inventory Management Processes Used Currently, the firm uses traditional means of stock inventory as well as purchasing models. The company stores its inventories in a hired warehouse while the rest are in the shops for display. In case a customer places an order whose stock is in the store, it takes much time before a product can be transferred from the warehouse to the warehouse. The fact delays the processing time that keeps already excited customers waiting. At the same time, customers place orders manually on the telephone, mail, and the fax machine that has to be recorded and processed over time. The stock inventory monitoring is manual with workers going round to count the goods one by one every day and recording the same in counter books. The process takes time and labor especially in the evening approaching to closure time. In the process, the goods on demand are determined, and buyers are made to purchase more stock. At times, goods arrive late forcing the firm to seek for a delivery request to the clients at a later time a problem in the omission of information technology (Kok, Baets, 2016). The move discourages the customers in need of seeing and trying a product before purchase. Furthermore, purchases are done depending on demand and the stock level observation where the manager places an order to have the goods delivered.The firm had to wait for at least two days since the products come from another city and depend on the hired trucks for delivery. Since the firm does not make bulk purchases, a certain level of orders must be attained before the goods are shipped to the facility. The firm makes agreements with the suppliers to have products delivered before payments are made. We bargain for discounts and competitive pricing for the goods delivered. Comparative Advantages and Disadvantages of the Currently used Processes The use of warehouses for storage guarantees large storage capacity and easier access to products for the market. The use of company truck to transport the commodities from one location to the other enables faster delivery and customer satisfaction. At the same time, making agreements with the suppliers is essential for the timely delivery of products as per the demand schedules. We have products delivered to the clients enabling value creation in the process. However, the firm has challenges in the cases of bulk purchases, where we have to make instant orders which take a long time to arrive. In turn, customers lose trust in the business that remains a major stockist in the region. The manual inventory system takes the much time to compute and order for supplies sometimes running to over a week before orders are approved and sent to the respective stores. Goods pile up in the store coupled with the manual handling of cargos in the warehouse that slows action in the process. At the same time, serious injuries have been recorded over time due to the manual operations. Lack of proper transportation system saw the firm incurs costs while hiring trucks to deliver and supply products to its business segment. The firms poor logistics plan increased the operating costs as the trucks traveled all the way empty to pick products for subsequent distribution (Wilkinson, 2013). The business spent a lot of funds in making impromptu purchases of products coming from a long distance taking up to a day before delivery. In this case, the traditional method of procurement and inventory management led to high costs of operation, passing the costs to the buyers. In the process, the firm lost potential clients due to the high costs of purchases despite the brand name created initially. Lack of proper policies to allow for cross-docking increased transportation and storage costs acting negatively to the profits of the firm. Supply Chain Inventory Management Concepts Supply chain management refers to the flow of goods and services from the supplier to the retailer. In the process, it involves movement, inventory works, and transportation of goods. Since the firm sells an assortment of products, it has to plan for its inventory needs. Timely delivery of goods for the customers is essential. In this case, the firm has to develop a proper logistics plan that shall serve the three outlets and construct or refurbish a modern warehouse to store its products (Stock, Lambert, 2001). Secondly, it has to cease making limited orders and focus on bulk order based on the demand potential. Since the firm has a large customer base, it has to plan for a high rate of stock. Strategic Vendor Partnership In maximizing profits and ensuring a continuous flow of the inventory, the firm has to embrace a strategic vendor partnership that enables a firm source products at competitive prices and have the same delivered adequately (Afik, Lowengart, Yosef, 2015). With such a plan, Brisbane would have a long-term assurance of high volume of supply to its three stores. In linking the two, the firm has to improve its communication network with the supplier by providing direct access to its inventory system. An online inventory system would help the three stores interlink inventory information thus has products arrive right on time (Fitzsimmons Fitzsimmons, 2013). At the same time, the online portal can assist the customers to track their goods on delivery, thereby adding value to the business. Cross-Docking Strategy Cross-docking is a logistical strategy where goods are unloaded from a trailer directly to small trucks thereby limiting the storage charges and space (Apte, Viswanathan, 2000). Storing products comes with a cost that translates to increased operating costs. In minimizing costs in logistics, goods on high demand can be packed directly and transported directly to the respective shops instead of storing and having them later space (Apte, Viswanathan, 2000). At the same time, inventory plans have to interlink to allow for a one off pick and delivery to the three shops instead of doing it separately. In this case, Brisbane would be availing its products at considerably lower prices. With the shops located along the same route, there would be no cases of empty trips by the truck delivering items. Technology in Inventory Management Technology is a critical factor in cost-cutting and increasing efficiency. Brisbane would benefit from the introduction of information technology management software that would allow an inventory share between the three stores, warehouse, and the suppliers. As opposed to the traditional means used in the manual counting of the stock records, the innovation would ensure a speedy reception of stock turnover thus advise the supplier on what and when to supply. Sharing an inventory with a supplier is a management strategy that enhances speedy delivery of products and availability of products. The firm should adopt the Retail Link System, which connects suppliers to the retailers promoting a faster movement of commodities (Ellram, La Londe, Weber, 2013). At the same time, it allows a retailer to track the progress of stock levels and determine which product to order more in supply occurs in the process as customers find products as and when they need (Kim, Cavusgil, Cavusgil, 2013). Apart from creating value, the process helps in acquiring products at low costs thus passing the benefits to the buyers and subsequently remaining competitive in the industry. In adding value, Brisbane should start distributing equipment purchased to closer locations as part of winning the customers. Technology in the warehouse, characterized by moving belts, remains essential for a faster processing of the case or commercial orders. In this case, the firm needs to enhance the warehouse to have a speedy transfer of products ready for transportation. Logistical Arrangement The firm should purchase one more truck to supplement the van current in use with delivering supplies and collections from the warehouse. In enhancing efficiency, the company has to create a well-managed route determiner to save on fuel and reduce empty trips given the strategic location of the shops (Monczka, Handfield, Giunipero, Patterson, 2015). The truck can drop customers goods while en route to picking more supplies from the store. In this case, there will be little operating costs registered Recommendations for Restructuring of Purchase and Inventory Functions Having taken over Brisbane, a performing firm in the region, Ms Green has a lot to do in maintaining a competitive advantage in the industry. First, it has to sell products at competitive prices and retain its profit potential having merged the three businesses operating in different locations. Purchases have to be made in large quantity to ensure low costs essential in determining selling prices. Bulk Purchase In improving purchase practices, bulk buying creates opportunity for discount on process as well as after sale services for transportation. The bulk purchase allows for a good a possible partnership and trust levels where suppliers can deliver products and have them collect their dues later depending on the stock behavior. Embrace Technology Technology is essential in growth and development as it eases operations leading to a speedy processing. In so doing, it has to initiate a Retail Link System to its stores and warehouse to have information sharing and inventory sharing (Baihaqi, Sohal, 2013). At the warehouse, manual handling of goods has to be replaced with technologically enabled machines to speed the stocking process and packaging on the lorries (Kim, Cavusgil, Cavusgil, 2013). The vehicles used for transport must be tracked to enable monitoring of its route activity. Information Technology in Inventory Ms Green has to incorporate an inventory system powered by the internet to allow for information sharing between the suppliers and Brisbane. The move would allow for a speedy processing of orders, based on the information on the inventory records, determining which products to supply in surplus according to the sales report (Stadtler, 2015). In this case, she can sit at one store and observe the occurrences and stock level in another outlet thereby staying in control of the operations. Cross Docking Logistical strategies have to be planned to allow for cross-docking by availing the companys truck at the time of product delivery from the suppliers. The move would allow products reach the here stores on time and reduce the costs of operation in the warehouse. The truck to truck delivery would also benefit the customers living across the route by having their products delivered for free or at discounted prices. Logistical Planning In aiding a proper logistics system, the firm has to purchase or lease a truck to aid in local transportation of the goods from one store to the other and the warehouse to guarantee speedy transfer of purchased stock. Owing to the high stock level anticipated for the three acquired stores, there is need to add a fleet to aid in distribution (Christopher, 2016). Routing software has to be developed to have the trucks move according to planned routes for safety and management reasons. The truck has to remain tracked to ensure it carries out activities of the company and uses the desired route for fuel efficiency. Distributing products to customers allows for value creation to the customers coupled with low operating costs. Restructure the Warehouse The manager has to select a central location to locate its warehouse for effective logistical operations. The manual processes have to be transformed into the latest conveyor belts and machines that increase speed and timely loading (OByrne, 2011). By so doing, the firm shall enhance its effectiveness enabling product delivery and customer preference to the business. Owing to the increased stock levels expected in the new operations, a double storage facility would be suitable for the case. Select Supplier Competitively The firm has to source for a competitive supplier with a high ability to supply goods according to demand. At the same time, a supplier has to adhere to the agreement and have payments done as products sale having access to its inventory system (Bowersox, Closs, Cooper, 2002). Choosing the right supplier ensures ample supply chain encouraging repeat purchases. Vendor Partnership The owner has to select competitively a supplier for a partnership deal that would see a collaborative structure to have the supplier granted access to the inventory records. The strategic partnership shall allow for a speedy processing of orders and a bulk purchase model promoting a high stock level at cheaper prices. In this case, the company shall have sufficient stock levels and spend less on transportation costs since the vendor shall deliver directly to its warehouse and have the company vehicles collects the same. Cheap products would lead to low operating costs and shall have the benefits passed to the rest of the shareholders. Conclusion Operations management is key to efficient production and profit making capability. Brisbane uses traditional means of operation management which increases its operating costs. The previous management did not care much on the modern means of operation that had to be restructured for success. The high disadvantages attest to the failure of the system thus a need for improvement. The strategies in operating management are therefore essential in offering the company a turnaround strategy. 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