Pricing and Revenue Management in the Supply Chain

Pricing and Revenue Management in the Supply Chain The Council of Community Colleges of Jamaica Turks and Caicos Community College Supply Chain Management MGMT 4801 Lecturer: Ms. M. Hosten Due Date: October 9th, 2012 Name: Donnell Lightbourne Table of Content What is Revenue Management? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. pg. 3 Foundations for Strategic Management †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. pg. 3 Impact and Conditions of RM †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. pg. 4 Segments of Revenue Management †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. pg. 5-8 Practicing Revenue Management †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. pg. 9 User of Revenue Management †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦... pg. 10 Bibliography †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ pg.†¦show more content†¦For the firm to take advantage of revenue management, the supplier must bound the amount of capacity committed to lower price segment even if sufficient demand exist from the lower price segment to use the entire capacity. The basic trade-off here is between committing to an order from a lower price or waiting for a high price to arrive later on. The risks in such situation are spoilage and spill. Spoilage occurs when capacity is wasted because demand from high price doesn’t materialize. Spill occurs if higher price segments have to be refused because capacity has already been committed to lower price segment. u If a supplier serves numerous customer segments with a fixed benefit, the provider can improve revenues by setting different prices for eac h segment u Prices must be set with barriers such that the segment willing to pay more is not able to pay the lower price u The amount of the asset set aside for the higher price segment is such that the expected marginal revenue from the higher priced segment equals the price of the lower price segment Perishable Assets There are two revenue management tactics used for perishable assets: ⇠¨ Vary price over time to maximize expected revenue ⇠¨ Overbook sales of the assets to account for cancellations The first tactic is appropriate for assets such as fashion wear that have clear date beyond which they lose a lot of their value; clothing designed for a particular season loses its value whenShow MoreRelatedWalmart, The Largest Public Service Company1342 Words   |  6 Pagesoperations, the company garnered revenues of $700,000 in sales. In the next 12 years, it made a drastic rise to $ 5.4 million in sales and subsequently crossed $ 1Billion mark in 1980. By the year 2002, the company’s revenues equaled to 2.3% of the GDP of USA, making it the biggest Retailer in the United States, having already overtaken K-mart in 1992 and in 2000. Walmart had a continuous exponential rise since its inception. This year the company reported revenues of $ 478 Billion with gross profitRead MoreEssay o n Supply Chain Partners: Virginia Mason and Owens 1458 Words   |  6 PagesSynopsis: Michael Stefanic, director of cost management at Owens Minor (OM), a medical and surgical supplies distributor and Daniel Borunda, material systems manager at Virginia Mason (VM) Medical Center came together to try to battle healthcare costs and improve the healthcare supply chain. 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(1995)Read MoreWalmart: A Strategic Management Case study Financial Perspective959 Words   |  4 PagesPricing Strategy Wal-Mart’s primary competition in US includes department stores of the likes of Target and Kmart. Costco offers competition to Sam Club format of Wal-Mart. In niche small markets, dollar stores are offering strong competition to Wal-Mart. Kroger competes with Neighbor market and supercenters of Wal-Mart especially on the grocery product line. Target competes with Discount stores and supercenter shopping formats of Wal-Mart with Target commanding a small premium on prices as itRead MoreHaier Essay1589 Words   |  7 Pagesgoods and white goods. Nowadays, Haier is the 4th largest white goods manufacturer in the world. The business scope of Haier is technology research, product development and manufacturing, trade and financial services (Haier, 2015). 2.0 Company Pricing Strategy Haier’s generic product strategy is differentiation and focused differentiation. 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I find out that Supply Chain ManagementRead MoreE-Commerce Strategies for Grocery Stores845 Words   |  3 Pagesfailure as operations management systems have failed to translate the many accuracy and speed advantages of e-commerce into a value-chain encompassing operations management performance advantage (Ruch, Sackmann, 2012). The intent of this analysis is to evaluate how food and grocery stores can be made more efficient through e-commerce-based operations management. Making Grocery Retailing More Efficient with Operations Management The traditional approach to operations management is based on solvingRead MoreElectronic Discovery : Employee Activity972 Words   |  4 Pagescompanies that sell extensive products, represent manufacturers and sell items at both physical locations and online have more complex inventory-management and ordering needs. Core back-office features usually update availability data but seldom manage complexities such as keeping the showroom stocked, answering customer questions about the supply chain and collating materials used in manufacturing or assembling products to take advantage of bulk ordering discounts and customizing or building products

How At Risk Students Make It For College - 940 Words

In the June 8th, 2011 article How At-Risk Students Make It to College, published in the Hispanic Times Magazine, the un-named author is explaining how there are several factors that can have a positive influence on any student, and most importantly, on an at risk students, to make the decision about going to a four-year college. The author is showing us the most important influencing factors such as family and peers. The author also tells us what an at risk-student is. The author is also telling us that within the key factors, there are some underlining factors that can influence us in ways we don’t think about. For example, the one step that we don’t really think about is the college application process, which is one of the factors we don’t think about until we have to go through the process ourself, when we decide to go to a four-year college. The thought of college can be very intimidating, especially to an at-risk students. At-risk students are the ones who are most likely to be loners, and ones that don’t care for school, because they lack the motivation and support they need. The author refers to the at-risk students as â€Å"latch-key†, which implies that they don’t have the needed parental guidance or companionship at home. These at-risk students are most likely to be between the ages of 16-18 yeas of age. I also believe along with the author that the reason why they are at risk students are, their family situation, their peers and the lack of interest they have inShow MoreRelatedCollege Dropout Rate And Evidence1332 Words   |  6 PagesCollege Dropout Rate Evidence To Support You re done, you have dropped out of college and there s nothing you can do. Congratulations, you are now in the 1.3 million that also contributed to this statistic. The college dropout rate varies based upon a wide variety of problems college students encounter. Now your reasons for dropping out? 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He took out a loan with his father as an cosigner for a little over $100,000. Even though he got an accounting job directly out of college, he is now stuck paying back a monthly loan payment of $1,200, when he only makes $3,333 a month before taxes. This has forced his father to make payment sinceRead MoreEffects Of On Campus Housing On College Students Drinking Behavior1565 Words   |  7 PagesEffects of on-campus housing on college students’ drinking behavior: A Literature Review Educational scholars have widely researched the effects of on-campus housing on the behavior of college students and one of the behavioral effects is on drinking behavior. Researchers from both the United States and New Zealand have found that students living in residential halls on campus demonstrate the greatest rates for drinking and peer pressure for drinking (Rickwood, et al., 2011.). Leontini, et al.

Music history Argumentative Essay Example For Students

Music history Argumentative Essay Looked down on the use of music for mere pleasure iii. Hymns: prayers to gods b. Greek thought described the nature of music, its effects and its proper uses c. Plato believed that education should stress gymnastics (to discipline the body) and music (to discipline the mind) I. Urges balance between gymnastics and music it. Only certain types of music are suitable iii. Music should not have complex scales or mixed genres, rhythms, or instruments v. Changes in musical conventions could lead to lawlessness in art and anarchy in society 8. The Church Fathers on Psalmist and on the Dangers of Unholy Music a. Early church leaders were known as the church fathers b. Encouraged music for sacred purposes only c. Prohibited instrumental music ) Instrumental music lacked words and could not convey Christian teachings b) They feared evoking pagan practices, such as spectacles involving dancing c) Playing instruments is idle and unproductive and can lead to licentious behavior d. Psalm implies serenity of soul; it is the author of peace, which calms bewildering and seething thoughts Psalm is the work of angels, a heavenly institution, the spiritual incense. SST. Basic 9. SST. Augustine: The Testimony of SST. Augustine a. SST. Augustine: leading Church Father a) Feared musics ability to arouse strong feelings ) In his Confessions, he describes shedding tears at the psalms c) He believed that feeling strongly about the musical performance of psalms was a good thing d) When he was moved more by the song than by what was sung he b elieved it was SINFUL e) I am inclined to approve of the custom of singing in church Yet when I find the singing itself more moving than the truth which it conveys, I confess that this is a Shakespeare The Transmission of the Classical Legacy a. Bioethics: most revered authority on music in the Middle Ages a) Wrote De institution musical (Fundamentals of Music) . Defines 3 types of music: a. Musical mundane Music of the universe: numerical relations governing the movement of stars, planets, seasons, and the elements b. Musical human Human music: unification of body, soul and their parts c. Musical instrumentalist Instrumental music: audible music produced by voices or instruments 2. Musics power to influence character made it important in educating the young 3. The study of music through reason was a higher pursuit than the performance of music; therefore a philosopher of music was the true musician, not a singer or composer a. Three types of people in musical art: those who perform instruments, those who compose songs and those who Judge the instrumental performances and composed songs. Third type is considered a musician) b. The mere physical skill serves as a slave, while the reason governs all as sovereign How much nobler is the study of music as a rational science than as a laborious skill of manufacturing sounds? c. That person is a musician who through careful rational contemplation ass gained the knowledge of making music, not through the slavery of labor, but through the sovereignty of reason He type which buries itself in instruments is separated from the un derstanding of musical knowledge Hey act as slaves, for they use no reason but are totally lacking in thought. 11 . Music as a Liberal Art (Schools incendiaries) a. The tritium of the verbal arts: grammar, dialectic, rhetoric b. The quadric of the mathematical disciplines: geometry, arithmetic, astronomy, and harmonics (music) 12. Before Notation (Isadora of Seville) a. Isadora of Seville: Unless sounds are remembered by man, they perish, for they cannot be written down. b. Simple melodies may have been memorized and ample melodies may have been improvised within strict conventions c. .u7bd53554943d1192fceb0c6abc7e7fe7 , .u7bd53554943d1192fceb0c6abc7e7fe7 .postImageUrl , .u7bd53554943d1192fceb0c6abc7e7fe7 .centered-text-area { min-height: 80px; position: relative; } .u7bd53554943d1192fceb0c6abc7e7fe7 , .u7bd53554943d1192fceb0c6abc7e7fe7:hover , .u7bd53554943d1192fceb0c6abc7e7fe7:visited , .u7bd53554943d1192fceb0c6abc7e7fe7:active { border:0!important; } .u7bd53554943d1192fceb0c6abc7e7fe7 .clearfix:after { content: ""; display: table; clear: both; } .u7bd53554943d1192fceb0c6abc7e7fe7 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u7bd53554943d1192fceb0c6abc7e7fe7:active , .u7bd53554943d1192fceb0c6abc7e7fe7:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u7bd53554943d1192fceb0c6abc7e7fe7 .centered-text-area { width: 100%; position: relative ; } .u7bd53554943d1192fceb0c6abc7e7fe7 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u7bd53554943d1192fceb0c6abc7e7fe7 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u7bd53554943d1192fceb0c6abc7e7fe7 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u7bd53554943d1192fceb0c6abc7e7fe7:hover .ctaButton { background-color: #34495E!important; } .u7bd53554943d1192fceb0c6abc7e7fe7 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u7bd53554943d1192fceb0c6abc7e7fe7 .u7bd53554943d1192fceb0c6abc7e7fe7-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u7bd53554943d1192fceb0c6abc7e7fe7:after { content: ""; display: block; clear: both; } READ: Music Medium History EssayWhen melodies were written down, formulaic structures remained intact 13. Notre Babuls, Othello: Embellishing the Liturgy a. Babuls: most famous early writer of sequence texts 14. Guide of Orzo, DOD of Clung, Chaucer: Musical Notation and its consequences a. Monk in 11th century b. Developed a system with additional lines; staff notation, evolved to a four line staff c. Wrote a practical guide for singers d. Colonization 15. Music in Courtly Life a. Poetry and music of the noble troubadour were sober and reflective b. Idealization of love c. Songs of knighthood are found in manuscripts known as chandeliers 16. Emergence of Polyphony 17. The Forms and Practices of Music 18. The First Musical Avian-Garden 20. Letter from Gallinule De Mach (14th century) a. Leading composer of the French Ears Nova c. Resided in Reins to write poetry and music d. First composer to compile his complete works and to discuss his working method I. Paid for the preparation of several illuminated manuscripts of his works it. Wrote poems first, then music iii. Happiest when the music was sweet and pleasing

Human Resource for Megamines International - myassignmenthelp.com

Question: Discuss about theHuman Resource Management for Megamines International. Answer: Introduction Megamines International is a mining company that is facing a tough situation in the market. Due to the changing market conditions, the company is losing its competitive edge in the market and wants to bring about some serious changes in its Kookaburra mines but is facing a lot of internal issues in executing its change strategies. Therefore, this strategy is aimed at gaining a deeper insight into the case of the company and making suggestions to deal with the situation. SWOT Analysis A SWOT analysis is a framework that allows business organisations in analysing the strengths, weaknesses, opportunities and threats of a business project and understand the feasibility of a project for taking better business decisions (MT Team, n.d.). A SWOT analysis of the companys present situation is given below: Strengths: First of all, the company has a great team of senior managers. The president of the company, Jake Andrews, is a tough no-nonsense guy who is an exceptional leader. He is a democratic leader who takes decisions only after consulting his subordinates (Raza, 2017). Secondly, the company has a talented pool of employees who have a lot of market information. The employees are aware about the conditions that are prevailing in the market and in the company itself. They also have certain solutions in mind that will help the company in dealing with its problems. Weaknesses: First of all, a major weakness of the company is that its Kookaburra subsidiary is under a great influence of the labour unions. Labour unions are playing a dominating role in the subsidiary and making it difficult for the management to operate properly and achieve better profitability, productivity and efficiency. Secondly, the company has a huge redundant workforce working in its Kookaburra subsidiary. The Kookaburra subsidiary currently employs 2,000 employees who are adding up to the operational costs, which is making the company less profitable and efficient. Opportunities: First of all, a great opportunity that lies in front of the company is to implement technological solutions to solve most of its problems. Implementing technological solutions will allow the company to cut down its operational costs, become more profitable and ultimately to outperform its competitors. Secondly, the present situation is an opportunity for the company to deal with redundant workforce using various measures and overcome the negative conditions to become more profitable and productive in the future. Threats: First of all, the mine at Kookaburra is highly dominated by the labour unions and the management of the company has a lower hand in the decision making process. Further, even the political scenario is not in favour of the company as the politicians are more inclined towards the workforces welfare, which makes it impossible for the company to reduce the size of its workforce so that it could survive in the market. Secondly, the market scenario of the business is changing drastically. The prices of the companys core products have hit a 10-year low and the pressure is mounting. China, a major customer of the business, has stopped buying products from the business, which is posing a great threat to the existence of the business. Human Resource Management Problems The mining company is definitely facing a number of human resource management problems, which is having a toll on its competitiveness and profitability. The human resource management problems being faced by the company are discussed below: First of all, the company lacks a system of workforce planning. If the company had a system of workforce planning, it would not be having such a large redundant workforce as it would have allowed the company to forecast the human resource needs and ensure optimum number of employees in the workplace (Vorhauser-Smith, 2015). Secondly, the company is has failed to maintain strong relation with the employees because of which, there are multiple trade unions in the workplace and they have a upper hand in the negotiation process. As a result, the company is failing in implementing any change strategy and reduce the size of the workforce to become more profitable and efficient (O'Brien, 2014). The labour unions are tough and act like militants who can go to any extent to get their demands fulfilled (Lombardo, 2015). Thirdly, the company is also facing an issues related with its compensation and benefit management. The company has a workforce that is more in number than required and paying them high wages is making the company less profitable. Megamines Business Strategy Megamines is facing a tough market situation. The industrial scenario is changing rapidly and is making it tougher for the company to stay profitable. The workforce of the company is more in number than required and high wage rates are making the company less profitable. The strategy that the business management is looking to implement in the workplace is corporate downsizing. Corporate downsizing is a strategy that business organisations often use in adverse economic conditions. Corporate downsizing involves cutting jobs in order to decrease the operational costs in order to remain competitive and profitable. Downsizing can result in a large number of employees being laid off from their jobs (Snyder Welch, 2015). In a downsizing strategy, a human resource manager can implement different strategies to deal with the adverse economic conditions. In some cases, the managers can permanently lay off the employees whereas in some conditions, the managers might rehire the laid off employees after a predefined period of time. Corporate downsizing strategy is one of the toughest organisational decisions as it can create a number of social and legal issues for a company. Laying off the employees is considered to be unethical and against the corporate social responsibility of a firm. As a result, business organisations try to achieve a reduction in their workforce using other methods, such as job sharing, sending the employees on holidays, temporary leaves, etc. rather than laying them off permanently (Doyle, 2016). Recommendations for Solving Human Resource Issues Human resource management issues can have a great deal of impact on a companys work operations, efficiency, productivity and profitability. The condition of Megamines can, to some extent, be attributed to the human resource issues that the company is facing. To become more effective and to deal with the human resource issues, the company can look into the following recommendations: The management of the company needs to address the issue of redundant workforce and high compensations. It is not always beneficial to stick to organisational downsizing as a strategy to deal with adverse economic conditions because it can involve a lot of social and legal controversies. Therefore, the management of the company needs to look out for alternatives that will help them in avoiding permanent layoffs. To address this issues, the management can inform the workforce about the alarming condition of the industry and how every employees job is at a risk, which is creating an urgency to bring about a decrease in the compensations and benefits that the employees are getting. This way, the employees will get a clarity that if they do not except some cuts in their wages, the entire workforce will lose their job because of the company being shut down (Gandolfi, 2008). Once the employees have peacefully excepted a cut in their wages and benefits, the next and an immediate step should be to implement a performance management system in the workplace. A performance management system will help the company in fostering a performance oriented environment in the workplace and increase the competition amongst the employees. On the basis of a performance management system, it would become easier for the management to take actions against those employees who are failing in meeting their performance objectives and slowly and steadily, the company will be able to deal with its redundant workforce. Further, to deal with the redundant workforce, the company can also offer early retirements to certain employees who are about to get retired in the near future and can make its strategy more appealing by offering them a special retirement plan (Sozo Firm, 2017). The company can also freeze all its recruitment and selection programs in the future until it has dealt with its redundant workforce so that the issues do not pile up with new workers joining the mining company regularly. Another way to deal with the redundant workforce can be to transfer some of the employees to different facilities where the operational costs are less and the employees are paid less wages (Thebalance, n.d.). Such strategies will allow the company to avoid laying off its employees permanently and avoid the legal and social issues related with it. The company will also be able to hire these employees back in case the economic conditions start to improve in the future. 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