Costs and Contract Terms Essay Example for Free

Costs and Contract Terms Essay Executive Summary Over the span of 168 simulated days, team Honeybadgers managed the Littlefield Technologies job shop. The team’s objective was to maximize the firm’s cash position relative to the rest of the class. Using 50 days of historical data, the team reviewed re-order points, re-order quantity, capacity, lead times, and therefore contract terms. The team also weighed the cost of new machines against capital for inventory and interest rates, evaluating the return on investment and the impact a new machine had on lead times. Using this consideration set, team Honeybadgers purchased one tuning machine, one stuffing machine, and changed the contract terms on ten occasions. Ultimately, the team placed 5th. Actions Analysis Changing Contract Terms: A 7 day lead time generated higher revenue than the other contract terms during the first 50 days. However, we observed that there was a stretch of 5-8 days when the lead time was below a 1 day lead time during the first 50 days. Evaluating the first 50 days more closely revealed that approximately every 15-20 days, the lead time dropped substantially. Noticing a pattern, and aware that a different contract time could generate more revenue, we decided to micromanage the contracts to optimize revenue. For the duration of simulation, we adjusted contract according to the trending lead time. In times of high demand, when a lead time was more than 18 hours, we opted not to use contract #3 because of the cost of each order (avg. job cost+ordering cost = $608.33) Micromanaging the contracts according to lead times was a temporary solution. This strategy allowed us to optimize revenue when we did not have the capital to purchase a machine. Purchasing Tuning and Stuffing Machines: We originally wanted to purchase both a tuning and stuffing machine because both stations had long stretches when capacity was maxed out. However, without sufficient capital, we had to ration purchases. The tuning machine was at capacity more often. At one point the machine was at capacity for 18 days in a row. Purchasing the tuning machine eliminated a bottleneck at that station, which allowed us to produce more DSS products. Although the Tuning machine was prioritized, the bottleneck at the Stuffing machine was nearly as problematic as the Tuning station’s. The Stuffing machine was at capacity for 15 days in a row. After purchasing the Stuffing machine, bottleneck shifted again, and we were able to produce more DSS products. We did not purchase a third machine because it was unclear whether the revenue earned would offset the cost of the machine. The lead time was hovering around  ½ a day when we had the capital to make the purchase, and we did not believe the additional machine would improve our lead time enough to justify a purchase. In retrospect both machines should have been purchased earlier. We will evaluate the benefits of this approach in the â€Å"Risks and Evaluations† section. Choosing Not to Borrow: When we became eligible to take out a loan, we decided to forego the option because we did not need to borrow. Our cash standing was relatively high throughout the simulation because micromanaging contract terms proved fairly effective. Another deterrent was the grossly high interest rate. A 20% interest rate mitigated any added benefit gained from taking out a loan. Choosing Not to change re-order point: Re-ordering kits was a sizeable fixed cost, but we did not adjust the re-order point / order quantity because demand variability was fairly high. We were aware there was an opportunity cost associated with holding too much inventory because we could have earned interest revenue from the cash spent on inventory. However, we kept the order amounts Q high because (1)we want to save ordering cost and (2) we were not concerned with having too much inventory on hand when there was no direct cost (such as warehousing) associated with holding inventory. Inventory Strategy Final Hours: During the last 12 simulation days we considered developing a plan to minimize our inventory at the end of the simulation. However, we were not sure how to calculate this, and the costs associated with running of inventory was too high to risk making a mistake. Results The Honeybadgers team finished the Littlefield simulation in fifth place, posting $1,511,424 in cash. The team’s final cash position was $104,192 below the first place team, earning 93.5% of their total revenue. Risks and Evaluations At the beginning of the simulation, we wanted to maintain a high R and Q because we wanted to avoid high ordering costs. While we considered keeping inventory low to save money for a new machine, we were not sure the improved lead time could offset the cost of machines. However, in hindsight we realized that we could have managed R and Q better early in the simulation, so as to minimize the amount of excess raw inventory. We now know that we could have adjusted R according to the variability of demand, holding that the more demand fluctuates; the higher R is and vice versa. We believe that this tactic could have allowed us to accumulate enough cash to purchase machines earlier, possibly as early as day 80 or 90. Purchasing a machine earlier could have improved lead times, allowing us to switch to contract #3 earlier so as to generate more revenue. We should have balanced between ordering costs during the last 100 days and the cost of having excessive or unnecessary inventory after last day. In the last day we still had approximately $80k of inventory, which held no value after demand ceased. Managing inventory better would have given more cash on hand.

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title of website or page? YOUR HEALTH IS YOUR WEALTH Research has shown that there is a direct correlation with unequal societies and poor heatlh. The findings suggest that determining health in a society, is dependent on how wealth is distributed. Past data has indicated that there is better life expectancy where their is more equal distribution of income. The most unequal places have the highest death rates, with a small decline Policies that address equal income distribution have a large impact on health of the population. Health is more impacted by measures that address income inequity than measures that increase overall wealth, which also increases inequality rates. Between 1980 to 1990, the wider the income distribution, the smaller the decline in morality. "If we share the resources of our country more fairly, we shall have a more cohesive society and reduce inequalities in health. It will not happen the other way around." Income equality and disability and a strong correlation at a state-level that impact the entire polulation of that state. Rich or poor, those living in states with high unequal distribution of wealth are more likely to have disabilities than those living in states with more equal distribution. Studies have proven that even the rich living in unequal states disadvantaged. A study collected from 645,000 Americans throughout the country revealed that those residing in states with high income inequality are 11% more likely to have a health issue than those living in more equal distribution ( Anon. , 2007). Background info (I may take this out if it does not flow in the testimonial format). The unequal distribution of wealth grew significantly in the early 1980s. The country’s rich have grown signific... ...ind-Blowing Fact. N.p., n.d. Web. 23 Oct. 2013. . Coleman, Nancy , and ShannonSpillane Spillane. "Center on Budget and Policy Priorities." Press Release: Income Inequality Grew Across The Country Over The Past Two Decades: Early Signs Suggest Inequality Now Growing Again After Brief Interruption . N.p., n.d. Web. 26 Jan. 2006. . Stone, Chad, Danieli Trisi, Arloc Sherman, and William Chen. "Center on Budget and Policy Priorities." A Guide to Statistics on Historical Trends in Income Inequality . N.p., 6 Oct. 2013. Web. 14 Nov. 2013. . Timmins, N. (1996, Apr 22). Unequal societies are less healthy. The Independent. Retrieved from http://search.proquest.com/docview/312454885?accountid=12756

Creative Writing – “Relief”

he phone rang. It broke the silence of my seething rage. Its high piercing sound irritated me for some reason. I wanted to scream. Lisa wouldn't normally cause me to feel that way (maybe it wasn't just Lisa, but she had been getting to me recently). As twins we were supposed to share a special bond, and usually we got on really well. Despite being only four minutes older than Lisa, I often felt strangely protective of her. With curly blonde hair and brown eyes we looked totally identical, but the similarities ended there. Lisa's favourite word was change; new outfit, new boyfriend, new hairstyle and so on. I was calmer. I had two very close friends – Hannah and Angie, and a steady boyfriend – Adam. That was another part of the reason why I was at home and in such a state. I had just got to the party, after being held up with my friend Laura, who was upset about family problems. Things between Adam and I had not been going well recently, and tonight he had arranged to meet me at six, so we could talk. It was nearly seven. I feared the worst, but friends do come first. However I was not prepared for the scene that met my eyes. I stood transfixed. Something sharp went straight through my heart. There stood Lisa and Adam, alone. Two of the people closest to me, I could not believe it. I ran. A huge bubble of emotion was trying in vain to escape from with in me, but it didn't seem to know how. I could feel tears welling up. I wanted to scream, hit someone, collapse in a heap and break down and sink into the ground all at once. Then my emotions quieted and he silent tears began rolling down my cheeks. I reached the deserted bus stop, when the bus came that was deserted too. My whole life seemed deserted. As soon as I was home I dialled Hannah's number then the grim realisation hit me: All my friends were at the party, my parents were out, my older brother – Phil was out. A fresh wave of rejection, anger, betrayal and total emptiness swept over me, and suddenly I felt very tired. I peeled off my clothes and went to bed. How could Lisa have done that? It wasn't something she would do. Borrowing my clothes? Yes. Shirking chores? Yes. Forgetting favours I asked her? Yes. Trying to sort out my love life with some crazy scheme and making it worse instead? Yes. But stealing my boyfriend? No. Adam? Did the last 10 months mean nothing to him? What about all the special times we had shared together? What about all the â€Å"I love you†s? I felt the bubble return. That was when the phone rang. I left it to ring. It cut off, and then rang again. This time I answered: â€Å"Hello† â€Å"Hello, is this the Scott house?† â€Å"Yes† â€Å"Who am I speaking to?† â€Å"Ali† â€Å"Alison? This is Hertfordshire police† What on earth could the police want? A new emotion hit me: Fear. I listened with trepidation. â€Å"There has been an accident on the railway bridge; Blue Ford Fiesta, young driver, medium build, blonde curly hair. We believe it to be your sister† Lisa. It was Lisa. â€Å"Where is she? Is she ok?† I asked. â€Å"She's at Princess Alexandra hospital. I think it's best if you get yourself up there as soon as possible. Your parents are there already.† I ended the conversation. I walked over to Sarah's to see if her parents drive me. I didn't think about it, I just did it. I couldn't think. Val and Mike were out. I went over to Helen's Helen's mum asked no questions. I couldn't have answered even if she had. She drove me in silence. It was only a twenty minute journey although it seemed to last forever. I was not crying. A strange numbness had come over me. I couldn't think or do or feel anything. There seemed to be a gap where my stomach was and my heart was beating so loudly the whole of Sawbridgeworth could probably hear. Finally we reached the hospital. Helen's mum put her arm around me and led me. Somehow she knew where to go. All my resentful thoughts about Lisa had melted. I felt empty, small and absolutely terrified. I found myself sitting in a green chair. It was a sick green, the green you always find in hospitals. I could see my dad looking grave, his arm around my mum, who was silently crying. Suddenly I noticed there was an arm around me, it was Adam's. I shook it off. A doctor stood by me; he held a glass of water and a small round white tablet. He was telling me to take it. â€Å"Where's Lisa?† I asked â€Å"They did all they could for her. She wanted to tell you something. She kept calling â€Å"Ali, Ali† all the time she was conscious. She said that she loved you. We think she was driving to see you. She was driving very fast, the roads are icy† He said He didn't need to tell me anymore. I knew. Lisa. Lisa was dead. Lisa was dead. It was my fault. I began to cry. â€Å"Ali, take the pill. You need it† It was Adam's voice. I could see Charlie and Amy sitting by him, looking concerned and upset. There was something odd about that, but I couldn't figure out what. I couldn't take the pill. They didn't understand. I had killed my sister. If I hadn't gone off she never would have driven to see me. They couldn't make me take drugs to numb the pain until there was none. â€Å"Alison, this is hard enough on your parents as it is, take it for them† coaxed the doctor I looked to my dad â€Å"Ali, this is hard on all of us, especially you, take the tablet, darling† he said in a hushed tone. Time passed in a blur. I had no idea if it was day or night, or how long I had stayed in my room. My mum kept bringing me those white pills. I was numb. I slept, cried, and just sat for hours, overwhelmed by shock, guilt and sheer emptiness. One morning my mum came in and asked me to come and see Lisa's room. I followed her and my dad. For no apparent reason I was now feeling scared. My mum opened the door. It felt as though it symbolised something but I didn't know what. I gasped. Lisa's room, usually strewn with clothes, makeup and everything else under the sun, was tidy. Moreover all her stuff had been removed and it had been redecorated. I couldn't take it. I broke down. Lisa was like my other half, I was incomplete without her. It was like being half dead. My dad looked at me; I could see it hurt him even to do that. Would it always be like this? Would I serve as a constant reminder of Lisa? â€Å"Ali,† a voice called. It was a familiar voice. It was Lisa. Was I dreaming? I closed my eyes and opened them again. I was lying in my bed. Lisa was shaking me. â€Å"Ali, you left the party. I didn't get a chance to tell you†¦Ã¢â‚¬  I just looked at her, utterly bewildered. I reached out my hand and touched her. â€Å"You're alive, â€Å"I murmured. She looked a me briefly as though I was insane, then carried on, â€Å"Adam was waiting for you, and you didn't come. It was my fault things were going badly between you two, so I pretended to be you to make it all better. I was going to tell you, but I couldn't find you. I worked out what you saw, and I'm sorry.† â€Å"But Lisa, you're alive† I stammered. This time she looked at me even more quizzically, so I explained what had happened down to every last detail. â€Å"Ali,† said Angie gently, â€Å"it was a dream, it must have been. We're all fine, your mum and dad are out, and remember Charlie moved to Belgium in August.† I was totally dazed. I felt as if I had been asleep a few hundred years, instead of a few hours. â€Å"So Lisa isn't dead and she never went with Adam,† I said uncertainly. â€Å"I can't believe you even thought such a thing!† exclaimed Lisa. â€Å"Oh Ali, I'm so sorry† â€Å"Everyone's downstairs, I'll go down and explain. You come when you're ready.† said Angie. I couldn't restrain myself any longer. I whooped and threw my arms around Lisa, who looked shocked but pleased. My relief was so immense. I would never hate Lisa again. I was close on euphoric. I slipped my arm through Lisa's and we went downstairs. Amy and Miranda had made up some sandwiches, and after all that had happened I think we all needed them. I was still incredibly tired, but I felt the sudden urge to hug everyone. My emotions were running so high. When I hugged Adam he stroked my hair and whispered, â€Å"I'm sorry about everything that happened. I love you.† Before I knew it he was kissing me deeply. Charlie phoned to say â€Å"Happy new year.† Everyone looked so happy now. As Lisa said, â€Å"It's like a dream.† We all laughed. It felt so good. Relief.

Principles Of Exercise And Sport Science - 1073 Words

HSE101 Principles of Exercise Sport Science Practical Assignment – Submaximal Exercise Testing ¬ Name: Renee Deverall Student Number: 215067741 1. Write a short paragraph that defines VO2max, explains what it measures and describes some of the most important ways that it can be used in health and sport. VO2max can be defined as the maximum oxygen uptake. This entails the maximum rate at which oxygen is readily available in the body to be taken up and used during aerobic exercise. (Fletcher et al.) It is a very important and commonly used indicator of a person or athletes level of cardiovascular fitness. A high VO2max demonstrates a high level of aerobic fitness, where as a low VO2max indicates a low rate of aerobic fitness. There are two factors that are important in determining a persons VO2max, which are the hearts ability to deliver oxygen to the muscles and the muscles ability to extract the oxygen from the blood and use it (Brown, Miller and Eason). This means that when a person has a high VO2max their body is able to deliver oxygen through the blood efficiently to the muscles in order to maintain high levels of aerobic exercise over an extended period of time. VO2max is a valued measurement of cardiovascular fitness in the Sport industry due to its ability to indicate cardiova scular fitness, as well as the pulmonary and muscular systems efficiency throughout the duration of the exercise (Brown, Miller and Eason). There are multiple tests that can measure VO2maxShow MoreRelatedEmmanuel College s Development Of Their Students Spiritual And Intellectual Growth1060 Words   |  5 Pagesthrough their Schools of Arts and Sciences, Business, Education and Christian Ministries. The School of Business offers Bachelors of Arts and Science in Business Administration, with either a Management or Computer Information Systems concentration. 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