Nobody downloaded yet

Explain what the current situation is, what problems are in evidence and how those problems should be addressed - Essay Example

Comments (0) Cite this document
Explain What the Current Situation Is, What Problems Are In Evidence and How Those Problems Should Be Addressed Executive Summary The report intends to depict the significance of purchase and inventory management in the context of the modern day business scenario…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.8% of users find it useful
Explain what the current situation is, what problems are in evidence and how those problems should be addressed
Read TextPreview

Extract of sample
"Explain what the current situation is, what problems are in evidence and how those problems should be addressed"

Download file to see previous pages There are different inventory models and policies for single supplier and multiple suppliers and allied benefits as well as drawbacks for each of them which would be evaluated in the report. Certain recommendations related to purchasing and inventory functions would also be rendered so that the existing difficulties can be alleviated by a considerable extent. Table of Contents Executive Summary 2 Introduction 4 Conclusion 13 References 14 Introduction Inventory is defined as the stock of materials or any other item that is being used by an organisation. It is further defined as the idle resource of any kind that has a considerable economic value. It has been observed that inventories are supervised in order to meet the future demands of the process of production. The term ‘inventory management’ is regarded as the process of maintaining the finished goods, and the semi-finished raw materials of companies or any other business. It has been learnt that efficiently managed inventory would result in an increase in the revenue by cutting down the cost of the company. The process of inventory management commences as soon as the company starts its production and orders the required raw materials for the same. In case of a retailer, the process commences as soon as it places an order to the wholesaler. ...
faces certain difficulties in purchasing and managing inventories for the parts and materials of diverse brands for providing services to the customers. The Chief Executive Officer (CEO) of the company is concerned about the future requirements of vehicles parts and materials to meet the ever-increasing needs and demands of the customers. Based on the understanding of the case study, the report intends to illustrate the differences in inventory policies when there are multiple suppliers involved. The report would further discuss about the weaknesses in the current inventory management practices of Lancaster Motor Group and recommend appropriate measures to tackle the difficulties particularly related to purchasing and inventory function. Q.1. How Might Purchasing And Inventory Management Policies And Procedures Differ Because The Dealerships Purchase Different Types Of Service Parts And Materials (E.G. Lubricants Versus Genuine Parts) From Different Types Of Suppliers? Galena Markovic was quite concerned about the future prospect of the company. She did not want the company to face the problem that other companies are facing with regard to managing the purchase of varied parts of automobiles in future. As it has been noticed that the company had a good reputation in terms of the deliverance of services, she became more concerned about its operations. For these reasons, she began thinking regarding supply chain and inventory management to resolve a bit of her concerns and pressures. However, as she is selling the product of four companies, she would have to buy the parts from various suppliers (i.e. multiple suppliers). In this regard, she would need to follow inventory policies different from that of the usual inventory management policy of single supplier. When a ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Explain what the current situation is, what problems are in evidence Essay”, n.d.)
Retrieved from
(Explain What the Current Situation Is, What Problems Are in Evidence Essay)
“Explain What the Current Situation Is, What Problems Are in Evidence Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
US rising debt level and current economic problems
...? US Rising Debt Level and Current Economic Problems A budget deficit exists where the total government expenditureexceeds the revenue of the government. Government deficit means that the excess money needed to finance the government budget will have to be borrowed from other countries or be financed from donations (Hubbard & O'Brien 2007). In the United States, the soaring budget deficit has resulted in an increase in the overall government debt. Budget deficit is expressed as a percentage of GDP. There are various reasons for having a budget deficit. According to the forecast of the organisation for economic cooperation and development (2011), the budget deficit for US is likely to increase to 10% of the GDP....
5 Pages(1250 words)Essay
Current Problems With Migrant Workers
...who approach these prostitutes may get HIV or AIDS. In certain cases, political differences in the host country may also cause problems to the migrant workers. For example, Americans working in China may not be allowed to spread or believe in democracy. Those who are saying something against the communist administration in China will be prosecuted there. It is quite possible that a migrant worker working in China may say something in favour of democracy in his usual conversations with his Chinese counterparts. Such things are serious offenses in China and the culprit may get jail terms. Solutions for migrant worker’s problems Migrant workers should be treated in the same manner in...
10 Pages(2500 words)Essay
The problems and solutions for the current shortage in nurses in Saudi Arabia
...of the appropriate solutions to help nurses stay in their jobs and to reduce the rate of turnover. Thirdly, health authorities should raise the wages of nurses and this may be a challenge with current downturn situation of global economy. With the current economic recession, and especially in America, it might be a good solution and may make nurses stay longer due to her responsibility of household expenses since the husband might be retired or could not find work. Under these economic conditions, the nursing shortage can be improved, but on the other hand, it may become worse if the economic downturn may affect the global economy again. In a similar study by Maben, et al. (2010),...
18 Pages(4500 words)Essay
How is consciousness addressed within the perspective of cognitive neuroscience
.... This theory supports a reflective view of consciousness. It mentions the contribution of experiences in the development of consciousness. On a different note, Block (2007) explores ways in which one can set apart phenomenal consciousness and the operations of the neural machinery. He argues that a difference between the two should exist He then indulges in providing relevant empirical data on how this is possible. Numerous models and theories explain the functioning of consciousness (Thompson and Lutz, 2003). Apparently, the more the theories and models, the more complicated the issue becomes. Unraveling the truth is likely to take a lot of time (Carruthers, 2003). It is evident...
3 Pages(750 words)Essay
Many authors and commentators argue that income inequality is among the most pressing current problems of our era. The received
...? Income Inequality and Corporations ''Many and commentators argue that income inequality is among the most pressing current problems of our era. The received wisdom is that inequality has significantly increased on both sides of the Atlantic in recent decades. In view of this trend, critically examine the role of large corporations in this process and show how price of output decisions by cartels has contributed to this problem.'' Income inequality is the extent of income concentration within a country or group (Ghanei, 2013 [class notes]). Income inequality has become the preferred measure in determining the quality of life in a country. At some point, per capita income was considered a preferable way, but further studies have indicated... . It is...
6 Pages(1500 words)Essay
Distribution problems in current china
...? of Lecturer] Sociology Distribution Problems in Current China Introduction Like in other countries, the Peoples’ Republic of China’s (PRC) Constitution provides for equal rights, freedoms and treatment for all citizens. However, these constitutional provisions seem to have been largely neglected or ignored with regards to the distribution of wealth or resources in the country. Hence, the marginalized groups of PRC’s people may feel a little or to a large extent cheated out of their citizenship. That is, whereas a small section of the Chinese citizenry allocated enormous amounts of the natural and man-made recourse for themselves, families, friends, cronies and sycophants, the local Chinese citizen is left to...
4 Pages(1000 words)Essay
How successful is the EU in providing a regional response to the problems arising from globalisation
...). Seeking to analyse the EU’s pressures to expand in a globalised world, the following aims to address how the EU has responded in a holistic fashion to expansion in an era globalisation. European Integration in the Face of Global Change Created following the tumultuous events of the Second World War, the European Economic Community was an important precursor for the establishment of the European Union. Accordingly, the European Union is an international organization which is estimated to generate 30% of the worlds total Gross Domestic Product (Almond et al, 2002, 100). As an economic powerhouse with significant stature on the global stage, the European Union is presently in the process of increasing its...
6 Pages(1500 words)Essay
The current economic situation will force every one to consider carefully how money is spent
...the banks other financial institutions for loans. The banks have a habit of sanctioning loans without proper enquiries about the financial assets of the person who approached them. Thus the American public got money from financial sources without any barrier whenever they are in need and that resulted in too much spending compared to saving. The current economic situation will force everyone to consider carefully how money is spent. This paper briefly explains the changes in money spending habits caused by the current financial crisis or economic recession. Arguments in favor of spending less to overcome the current crisis “A staggering 87% of...
4 Pages(1000 words)Essay
A reflective portfolio where you identify your learning requirements and discuss how you addressed those needs
...-of-mouth from consumer markets (Gounaris and Stathakopoulos 2004). One example of how a first-to-market innovator managed to gain consumer preference is the Sony Corporation with the release of the pioneering Sony Walkman in the early 1980s which revolutionized mobile consumer recreation. By having an effective promotional strategy, this company built loyalty with many consumer segments that was sustained for well over a decade, making Sony the consumers’ first name in consumer electronics. This module taught me that operations management must add value to the firm and OM consists of finance, marketing and operational components of the firm. I further learned that the 4M’s of operations management that are able to contribute...
9 Pages(2250 words)Essay
What do you understand to be the current problems and concerns of the world fisheries industry How can these be addressed
..., some of the governance functions should be privatized. This development is in the case of research fisheries institutions which are more reliable to non-governmental finance resources. The fisheries governance is also benefiting from assistance from computers. It allows both managers and researchers to access the experience and knowledge of outsiders. Secondly, the main task is to make the code principles into operation, hence, clarifying the viable choices that might perform in practice. It therefore, coordinates the principles of the code into development plans and policies. It also explains certain responsible codes of practice comprising standards, norms and guidelines concord by the stakeholders. Given...
8 Pages(2000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Explain what the current situation is, what problems are in evidence and how those problems should be addressed for FREE!
logo footer
Contact us:
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us