Matching Items (13)

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Inventory Management Analysis For Company X

Description

The purpose of this project is to provide our client with a tool to mitigate Company X's franchise-wide inventory control problem. The problem stems from the franchises' initial strategy to

The purpose of this project is to provide our client with a tool to mitigate Company X's franchise-wide inventory control problem. The problem stems from the franchises' initial strategy to buy all inventory as customers brought them in without a quantitative way for buyers to evaluate the store's inventory needs. The Excel solution created by our team serves to provide that evaluation for buyers using deseasonalized linear regression to forecast inventory needs for clothing of different sizes and seasons by month. When looking at the provided sales data from 2014-2016, there was a clear seasonal trend, so the appropriate forecasting model was determined by testing 3 models: Triple Exponential Smoothing model, Deseasonalized Simple Linear Regression, and Multiple Linear Regression.The model calculates monthly optimal inventory levels (current period plus future 2 periods of inventory). All of the models were evaluated using the lowest mean absolute error (meaning best fit with the data), and the model with best fit was Deseasonalized Simple Linear Regression, which was then used to build the Excel tool. Buyers can use the Excel tool built with this forecasting model to evaluate whether or not to buy a given item of any size or season. To do this, the model uses the previous year's sales data to forecast optimal inventory level and compares it to the stores' current inventory level. If the current level is less than the optimal level, the cell housing current value will turn green (buy). If the currently level is greater than or equal to optimal level or less than optimal inventory level*1.05, current value will turn yellow (buy only if good quality). If the current level is greater than optimal level*1.05 current level will be red (don't buy). We recommend both stores implement a way of keeping track of how many clothing items held in each bin to keep more accurate inventory count. In addition, the model's utility will be of limited use until both stores' inventories are at a level where they can afford to buy. Therefore, it is in the client's best interest to liquidate stale inventor into store credit or cash In the future, the team would also like to develop a pricing model to better meet the needs of the client's two locations.

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Created

Date Created
  • 2017-05

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Financial Literacy In Zimbabwe: The Vehicle To Economic Reform

Description

Zimbabwe's economic crisis has spun over decades since the late 90s. The ordeal began with hyperinflation between 1999 and 2008. During this time, the country was in debt and the

Zimbabwe's economic crisis has spun over decades since the late 90s. The ordeal began with hyperinflation between 1999 and 2008. During this time, the country was in debt and the government kept printing money to pay off the debt and take care of fiscal obligations. As a result, the economy has undergone some unstable phases which have made it difficult for citizens to comprehend how money works around the world. This project identifies the key events leading to Zimbabwe's economic struggles; describes the challenges of inadequate financial education; analyzes the role of financial literacy in alleviating Zimbabwe's economic crisis; acknowledges that financial literacy is a necessary foundation for creating financial independence amongst citizens, but is ineffective in the absence of financial inclusion; suggests blockchain technology as a sustainable means to mobilize both financial education and inclusion; provides recommendations for successful development of financial education and inclusion and introduces our plan to start an initiative that promotes financial independence amongst young Zimbabweans. It is without a doubt that public financial education and inclusion programs become a top priority for Zimbabweans in order to revive the economy. The conclusion is drawn from the idea that when individuals are empowered to be self-sufficient, they can intentionally or unintentionally contribute to economic growth by improving their standards of living and that of those around them.

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Agent

Created

Date Created
  • 2017-05

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Alternate Supply Chain Management Thesis

Description

The purpose of this thesis is to gain a greater understanding of Ph. D research and how general research in the field of supply chain management and operations is being

The purpose of this thesis is to gain a greater understanding of Ph. D research and how general research in the field of supply chain management and operations is being conducted in 2017. In order to gain a greater understanding, this thesis contains summaries and personal perspectives on four different supply chain management and operations seminars from visiting professors. There is also an expanded examination of the research area from the fourth seminar, process compliance. Multiple literature sources were used to construct a perspective on process development, process standardization, and process compliance origins and current state.

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Agent

Created

Date Created
  • 2016-12

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Marketing to Millennials Within the Airline and Finance Industries Across Cultures

Description

Millennials are the group of people that make up the newer generation of the world's population and they are constantly surrounded by technology, as well as known for having different

Millennials are the group of people that make up the newer generation of the world's population and they are constantly surrounded by technology, as well as known for having different values than the previous generations. Marketers have to adapt to newer ways to appeal to millennials and secure their loyalty since millennials are always on the lookout for the next best thing and will "trade up for brands that matter, but trade down when brand value is weak", it poses a challenge for the marketing departments of companies (Fromm, J. & Parks, J.). The airline industry is one of the fastest growing sectors as "the total number of people flying on U.S. airlines will increase from 745.5 million in 2014 and grow to 1.15 billion in 2034," which shows that airlines have a wider population to market to, and will need to improve their marketing strategies to differentiate from competitors (Power). The financial sector also has a difficult time reaching out to millennials because "millennials are hesitant to take financial risks," as well as downing in college debt, while not making as much money as previous generations (Fromm, J. & Parks, J.). By looking into the marketing strategies, specifically using social media platforms, of the two industries, an understanding can be gathered of what millennials are attracted to. Along with looking at the marketing strategies of financial and airline industries, I looked at the perspectives of these industries in different countries, which is important to look at because then we can see if the values of millennials vary across different cultures. Countries chosen for research to further examine their cultural differences in terms of marketing practices are the United States and England. The main form of marketing that was used for this research were social media accounts of the companies, and seeing how they used the social networking platforms to reach and engage with their consumers, especially with those of the millennial generation. The companies chosen for further research for the airline industry from England were British Airways, EasyJet, and Virgin Atlantic, while for the U.S. Delta Airlines, Inc., Southwest Airlines, and United were chosen. The companies chosen to further examine within the finance industry from England include Barclay's, HSBC, and Lloyd's Bank, while for the U.S. the banks selected were Bank of America, JPMorgan Chase, and Wells Fargo. The companies for this study were chosen because they are among the top five in their industry, as well as all companies that I have had previous interactions with. It was meant to see what the companies at the top of the industry were doing that set them apart from their competitors in terms of social media marketing content and see if there were features they lacked that could be changed or improvements they could make. A survey was also conducted to get a better idea of the attitudes and behaviors of millennials when it comes to the airline and finance industries, as well as towards social media marketing practices.

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Created

Date Created
  • 2016-05

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Digital Identification: Current Trends and Expected Future Applications to Create More Efficient and Effective Operations

Description

Digital identification technology is the unsung hero of the LEAN manufacturing, Six sigma quality, and supply chain management movements. By tethering the physical to the digital world digital identification has

Digital identification technology is the unsung hero of the LEAN manufacturing, Six sigma quality, and supply chain management movements. By tethering the physical to the digital world digital identification has helped usher industry into the information age. Today this technology continues to become more pervasive and advanced, in the future it is likely that it will have an even larger role to play. In this paper ten sources of current (last 12 months) academic literature will be reviewed in conjunction with two GE cases taken from personal experience in order to better understand the current applications and future trajectory of digital identification. The basis of this paper will be derived from understanding how the most prevalent form of digital identification, barcode is used to increase the efficiency and effectiveness of internal and external business operations. This "current state" knowledge will act as a benchmark to understand the potential diffusion and impact of future digital tracking technologies. The exploration of "up and coming" technologies will lead into a RFID technology deep dive encompassing its current applications and the frictions preventing widespread (barcode scale) implementation. In conclusion the "future state" of how RFID and more complex embedded communication devices will expand the scope of benefits granted by digital identification through a phenomenon known as the internet of things, along with the factors effecting its adoption will be discussed.

Contributors

Agent

Created

Date Created
  • 2016-12

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Exploration of Disruptive Innovations in Supply Chain and a Look into the Potential Upcoming Disruptive Innovations

Description

This study aims to accomplish in depth research on the disruptive innovations that have occurred in the supply chain and speak to ways those innovations have helped develop the modern

This study aims to accomplish in depth research on the disruptive innovations that have occurred in the supply chain and speak to ways those innovations have helped develop the modern supply chain. From here, the study looks into technologies and processes that are potential disruptive innovations likely to shape the future supply chain. Because this is an alternative supply chain thesis project, it is prefaced with reflections on four lectures on various topics. The goal of the lectures was to find one topic I found interesting and research that topic further within the body of the paper. Through the process of attending lectures and researching innovative technologies/processes, I have gained a deeper understanding of the development of supply chain. Studying what makes an innovation disruptive and being aware of these influencers will help me in my professional career. I will have greater potential to make a significant impact on the company I will work for from a strategic standpoint. This will be due my strong grasp of future trends in supply chain and an enhanced ability to create valuable change. In order to stay relevant, organizations need to stay on top of new trends and create new processes, and I want to be as equipped with this knowledge as possible while entering my professional career.

Contributors

Agent

Created

Date Created
  • 2016-12

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Analysis of NRE Fees for American Airlines

Description

The project mainly involves creating a standardized tool to help American Airlines evaluate the cost of Non-Recurring Engineering fees (NRE fees) that arise as a result of maintenance and repairs

The project mainly involves creating a standardized tool to help American Airlines evaluate the cost of Non-Recurring Engineering fees (NRE fees) that arise as a result of maintenance and repairs on airplanes. Since there are few manufacturers licensed by the FAA to complete these modifications, let alone have the capabilities to complete them, American Airlines is often charged substantial fees to complete even minor work. The team will begin by conducting academic research looking into how parallel industries such as Automotive, Aerospace, High-Tech Manufacturing, etc. deal with heavily regulated modifications. We will then use this academic research to building a framework that American Airlines is able to use to estimate the fair cost of completing some of these modifications. The hope is that American Airlines can use this framework to determine whether they are being charged fair prices, and if they are not, to use the framework as leveraging tool in negotiations.

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Agent

Created

Date Created
  • 2016-12

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Data Analytics within Supply Chain Management

Description

This thesis, through a thorough literature and content review, discusses the various ways that data analytics and supply chain management intersect. Both fields have been around for a while, but

This thesis, through a thorough literature and content review, discusses the various ways that data analytics and supply chain management intersect. Both fields have been around for a while, but are incredibly aided by the information age we live in today. Today's ERP systems and supply chain software packages use advanced analytic techniques and algorithms to optimize every aspect of supply chain management. This includes aspects like inventory optimization, portfolio management, network design, production scheduling, fleet planning, supplier evaluation, and others. The benefit of these analytic techniques is a reduction in costs as well as an improvement in overall supply chain performance and efficiencies. The paper begins with a short historical context on business analytics and optimization then moves on to the impact and application of analytics in the supply chain today. Following that the implications of big data are explored, along with how a company might begin to take advantage of big data and what challenges a firm may face along the way. The current tools used by supply chain professionals are then discussed. There is then a section on the most up and coming technologies; the internet of things, blockchain technology, additive manufacturing (3D printing), and machine learning; and how those technologies may further enable the successful use of analytics to improve supply chain management. Companies that do take advantage of analytics in their supply chains are sure to maintain a competitive advantage over those firms that fail to do so.

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Agent

Created

Date Created
  • 2016-12

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New Venture Group: Redesign for Strategic Growth

Description

The key to success is hard work and determination. Achieving success is always under construction. This project began as a simple analysis of the firm's progress, as at the time

The key to success is hard work and determination. Achieving success is always under construction. This project began as a simple analysis of the firm's progress, as at the time it was in desperate need of new clients and a marketing strategy to strengthen its visibility on campus.Through this evaluation, our team found that the firm was in an abysmal state and the previously noted problems were not the only issues of concern. From our research we found that in order for the firm to grow and become a successful student run consulting firm, there are several interorganizational issues that need to be understood and addressed. The intention of New Venture Group and the Consulting Scholars academic program is to provide students the opportunity to garner practical learning experiences. These potential opportunities are not taken full advantage of because of the afflicting problems that exist. The purpose of this thesis is to understand what problems exist within the firm and the next steps that should be taken to resolve them.

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Created

Date Created
  • 2016-05

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Consulting FedEx: An ePro Catalog Improvement Project

Description

The aim of this thesis is to improve the user experience within FedEx's eProcurement system, directly address feedback received from customer surveys, and to make recommendations for the Sourcing and

The aim of this thesis is to improve the user experience within FedEx's eProcurement system, directly address feedback received from customer surveys, and to make recommendations for the Sourcing and Procurement Division within FedEx. In the first part, the overall client engagement is outlined with the specific timeline between New Venture Group and FedEx. The thesis encompasses three deliverables that were integral parts to the semester-long consulting engagement. The thesis then dives into methodology and each deliverable individually. After months of conference calls and best practice research, consulting efforts are summarized in the results. In a detailed discussion sections, the thesis forecasts opportunities for FedEx within sourcing and procurement. Here, the thesis draws on sources from various companies and research. Furthermore, overall recommendations are given to FedEx and acknowledgements are made. In conclusion, the thesis hopes to offer FedEx improvements to leverage improved functionality of eProcurement that will become available in the next upgrade of the Performance Management System.

Contributors

Agent

Created

Date Created
  • 2016-12