Essays on Materials Management

Introduction

Risk is very common in any business. According to the definition given by Knight (1999), risk is measurable ambiguity of outcome whose impact may be either optimistic or pessimistic. Usually, risk is measured and expressed in terms of strong index. Many researchers think risk as unwanted event and this risk have statistical expectation value for ranking the seriousness too. Risk analysis can be defined as mathematical product value of strong and disutility. Procurement management offers advantages on economies of scale in purchasing and delivering the goods and services at right time and right place in order to minimize the risk involved ...

Introduction

SAP or Systems Applications And Products (German - Systeme, Anwendungen, Produkte) is software developed by a company with the same name started by former employees of IBM in Mannheim, Germany. The company, originally called Systems Analysis Program Development (SAPD) and later renamed as SAP, was founded in 1972. According to Dietmar Hopp one of the five co-founders of the software, they had worked together in IBM at Mannheim and created an atmosphere of team work. The concept of integrated information system was adopted and it evolved into the software called SAP. — the software facilitates management of all aspects of a business ...

Report to CEO and Senior Management at Riptide

Consultant’s Name Report to Riptide: Meet and Beat the Competition with Information Technology and Information Services Riptide has offered high quality surf wear over the years with its winning combination of manufacturing its own products and selling its high-end products at medium prices. Riptide was a success without overstretching its capabilities as a medium-sized business. Most important though, has been the ability of the founder/owner’s charismatic and intuitive abilities to communicate one-on-one with customers and stay ahead of popular trends. The combination of understanding the customers, offering personal customer service and consistently offering high quality products ...

- Identify three areas where IT could be applied to improve management of Unchained Melody Ulmus Company (UMUC). - IT could be used as a facilitator of information. With such a volume of information that is required by the company and especially since the company is experiencing growth, it is imperative that a repository of information is created that can be accessed by relevant personnel within the organization to ensure that clients are served and opportunities are realized. - IT could be used as an enabler, making information exchange easier between the suppliers, the personnel of UMUC and its customers. ...

Introduction to Materials Management

Logistics or material management (MM) basically handles the processes of procurement to payments, from inventory management through final receipt of invoices and verification process. This includes overseeing a placement and movement of related tangible items. The basic elements associated with materials management are quality control and inventory management. Some analysts consider spare parts as one of the major elements as well. Materials management is vital in huge production and distribution environments. The prime objective of this type of management is to maximize quality service and to minimize the cost; to be able to fulfill customer demands at required place and ...

Introduction

According to Mainan & Ferrell, corporate social responsibility (CSR) can also be referred to as corporate citizenship or sustainable social business. CSR involves the activities undertaken by an organization in order to ensure that it complies with the ethical standards and law. Corporate social responsibility is an objective of an organization which entails the organization to participate in the well being of the surrounding community. For example, the organization can sponsor some students from the community within which it operates . Organizations engage in corporate social responsibility for various reasons such as a way of improving the human resource. Risk management and ...

You will need to be able to properly construct/label a generic model of the Value Chain, and explain its use and value to managers. Beyond the text, there was further discussion of the value chain in the functional-level study slides.

The transformation process is composed of primary and support activities that add value to the product.

Primary Activities: activities related to a product’s design, production, distribution to markets and its support and after-sale services. R&D-Research and Development (R&D) activities aim at improving the design of products and the overall production processes. R&D achieves this by increasing ...