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Logistics - Essay Example

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The essay "Logistics" dwells on business issues. For instance, as for negotiation planning, it is stated here that despite experts’ arguments that planning is probably the most important part of the negotiation process, it still appears that some negotiators fail to plan adequately for the process…
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Extract of sample "Logistics"

Logistics (Couse Number) July 6, (Faculty Logistics A. Negotiation Planning According to Chapter 13, a plan is a method of doing something in order to achieve a desired end. Despites experts’ arguments that planning is probably the most important part of negotiation process; it still appears that some negotiators fail to plan adequately for the process. Baker & McKenzie (2007) affirms that if the parties involved prepare inadequately for the negotiation, an irreparable damage to their relationships can result. Under several occasions negotiators never reach their intended goals because they neglect the problems of the other party and focus on their own part. This should not be the case for a completely skilled negotiator; a skilled negotiator studies the other party’s actions and reaction in order to gauge their mind (Gates 2011). Chapter 13 is relevant to the subject matter in question as it addresses necessities behind good negotiation planning which include preparation, strategizing and engagement.
B. Fixed-price Contract with Incentives
Chapter 14 talks about the relationship between fixed-price contract with incentives and that with redetermination. The two are similar except that fixed-price contract with incentives allows cost-savings sharing with the supplier. Redetermination barely allows the buyer and seller to reach a firm price prior to production. Supplier’s incentive is primly on cost elements to the detriment of quality interest expressed by the client (Ward 2008).Should the supplier manage to demonstrate actual cost savings, usually when it involves high unit costs, the resultant cost savings from the initial cost targets is shared between the buyer and supplier based on predetermined rate. The fixed-price Contract with Incentives is considered when the two parties won’t agree on an equitable price (Federal Register 1977). Chapter 14 brings out the advantages of fixed-price contracts with incentives over those with redetermination making it relevant to the topic.
2. A. What is the relationship among contract law, the UCC, and commercial law?
When two or more parties get together to do business, they form a contract, some sort of a binding legal agreement. Now the contract law is a body of law that governs these agreements whether written or oral. On the other hand, commercial law is a body of law that referring to how the business parties or firms gets into contract with one another and executes the contract. Should any problem arise in the process, the commercial law ensures its remedy. The commercial law is majorly tied to laws regarding agency and contracts. Finally, the Uniform Commercial code (UCC) is not exactly applicable during a business transaction like the other two but rather it comes in at a later stage. The UCC is a mode statute used to resolve contract disputes that arise from sale of goods (LaMance 2013).
B. What are the benefits of calculating the total cost of ownership associated with carrying physical inventory?
Calculating the total ownership cost allows prediction and financial management of the entire ownership cost. These calculations could incudes hoping, storage and maintenance. The calculations will also enable the business management set up advertisement costs, staff level and prices so that the physical inventory can be managed for the sake of positive flow of the business.
Baker & McKenzie (2007). The International negotiation Handbook: Success through Preparation, Strategy and Planning. The Public International Law & Policy Group. 72 Pages.
Gates, S. (2011). The Negotiation Book: Your Definitive Guide to Successful Negotiating. John Wiley & Sons, New Jersey: NJ.
Federal Register (1977). The Code of Federal Regulations of the United States of America. Public Contracts and Property Management. Chapter 19-100. U.S. Government Printing Office
Ward, G. (2008). The Project Managers Guide to Purchasing: Contracting for Goods and Services. 214-Pages. Gower Publishing, Ltd. Farnham, UK.
LaMance, K. (2013). Uniform Commercial Code Lawyers. Legal Match. Last Modified on August 28, 2013. Retrieved from: library/article/uniform-commercialcode-lawyers.html Read More
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