Emerging Trends Case Study Essay Example | Topics and Well Written Essays - 250 words

Emerging Trends Case Study - Essay Example Technical courses require creative thinking in science subjects which is the main obstacle to success to most students. Fear for science subjects has highly contributed to this problem to many candidates. Constant rise of trade schools all over America for students who are not good enough to join colleges for further studies has contributed a lot for shortage in vehicle assembly industries. The rise of trade school makes most of the students not to have vision of being a technician in future. They therefore, end their dreams in businesses (Prosser, 2009). However, most of the technicians industries are managed by aged people creating no room for the young people. The need of strong learning background in to qualify to be an automotive technician has created fear to students. Increase in wages to the workers working in industries may solve this crisis but to some extent. (U.S. Atomic Energy Commission, Oak Ridge Associated Universities.,& Southern Interstate Nuclear Board. 2014)Due to increase wage, majority of students will have an aim of meeting the demands of qualifying to be a technician due to better pay due to demand for money to most youths. However, most of the students have developed fear of doing science subjects completely. In summary, there is a need for the government to ensure that every institution is entitled to offer a compulsory science subjects to students to foster the level of awareness to science related courses. U.S. Atomic Energy Commission., Oak Ridge Associated Universities., & Southern Interstate Nuclear Board. (2014).  Nuclear related technician demand and supply: Southern Interstate Nuclear Board Region, 2013. Washington?: publisher not

Service operation management Essay Example | Topics and Well Written Essays - 750 words

Service operation management - Essay Example = 675 + 675 = $1,350 4. Modern inventory management approaches Two of the modern inventory management approaches are Just In Time (JIT) inventory management (Wikipedia, 2007) and Vendor Managed Inventory (Wikipedia, 2007). a. In JIT system, the inventory is reduced and hence the associated cost of keeping the inventory. The inventory is ordered at the re-order point, this saves warehouse space and cost and increases return on investment, quality and efficiency. A drawback of this approach is that re-order level is determined by historical demand which may not be the accurate forecasting measure. This might lead to inventory depletion and customer service issues. Another drawback is that the system becomes vulnerable to supply shocks; that is, a sudden increase in the price of inventory item. This may disturb the budgets. b. Vendor Managed Inventory is a model where the buyer provides certain information to the supplier who then takes responsibility to maintain an agreed level of inventory for the buyer. This model was successfully used for some time but it makes the buyer too dependent upon the supplier or availability of raw materials and inventory items. 5. a. H = hC = (0.1)(90-5) = $8.5 Q* = {(2)(S)(D) / H }1/2 = {(2)(25)(4,000)/8.5}1/2 = 153 units (approximately) Since, Q* Hence, the optimal order size in this case is 500 units. b. H = hC = (0.1)(90-6) = $8.4 Q* = {(2)(S)(D) / H }1/2 = {(2)(25)(4,000)/8.4}1/2 = 154 units (approximately) Since, Q*The inventory is ordered at the re-order point, this saves warehouse space and cost and increases return on investment, quality and efficiency. A drawback of this approach is that re-order level is determined by historical demand which may not be the accurate forecasting measure. This might lead to inventory depletion and customer service issues. Another drawback is that the system becomes vulnerable to supply shocks; that is, a sudden increase in the price of inventory item. This may disturb the budgets. b. Vendor Managed Inventory is a model where the buyer provides certain information to the supplier who then takes responsibility to maintain an agreed level of inventory for the buyer. This model was successfully used for some time but it makes the buyer too dependent upon the supplier or availability of raw materials and inventory items. Since, Q* Since, Q* < 1001, hence if we order 154 units, the discounts can not be taken. If 1001 units are ordered, the discount of $6 can be obtained per unit.