Assignment #1: Chapter 1 Questions 1.1 Did it surprise you that logistics has such an important economic impact? Why or why not? I was actually not surprised at all. I have learned that shipping industry has played a major role in our economy and that foreign trade accounted for about 10% of US GPD. As of today about 90% of America’s overseas foreign trade is moved by ships and according to recent projections the foreign trade will be up to 35% of our GPD by 2020. 1.2 Distinguish between possession, form, time, and place utility. Possession utility refers to the value or usefulness that comes from a customer being able to take possession of a product and can be influenced by the relevant payment terms. Form utility refers …show more content…
The main reason for this significance is that meeting customer requirements means that companies must know rather than assume what the customer needs and wants. This knowledge is facilitated by communication between companies and their customers. 1.6 Explain how an understanding of logistics management could be relevant to your favorite charitable organization. The Japan tsunami that took place in 2011 is a great example of this. In a relatively short time a variety of humanitarian organizations like the red cross, with the help of private sector companies, were able to get relief supplies as well as food and medicine into the region and distribute them to the affected population. 1.7 How has a reduction in economic regulation contributed to the increased importance of logistics? Reductions in economic regulation in the United States allowed individual carriers flexibility in pricing and service. This flexibility was important to logistics for several reasons. It first provided companies with the ability to implement the tailored logistics approach in the sense that companies could specify different logistics service levels and prices could be adjusted accordingly. Second. The increased pricing flexibility allowed large buyers of transportation services to reduce their transportation cost by leveraging large amounts of freight with a limited number of carries. 1.8 Discuss the logistical implications associated
What is the thesis of Johnson’s essay? If it is stated directly, locate the relevant sentence or sentences. If it is implied, state the thesis in
1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)
Auditing I | ACG 4632.591S15 Assignment 1 Landon Graber Maya Pham Melanie Pratt Robin Michael Schneider LILTS BERGER & ASSOCIATES 4-1 Certified Public Accountants CW 11/23/2015 Ocean City, Florida 33140 October 30, 2015 Mr. Donald Phillips, President 36 Clearwater Lake Road Ocean City, Florida 33140 Dear Mr. Phillips: This letter is to confirm our understanding of the terms of our engagement as the auditors of Ocean view Marine Company for the year ended December 31, 2015. Services and Related Report As you have requested, we will audit the financial statements of Oceanview Marine Company, which comprise the balance sheet for December 31, 2015, and the related statements of income, changes in stockholders’ equity, and cash flows
1. Explain how observed teleconnection patterns can help in the preparation of a seasonal weather forecast.
2. Draw a flow diagram of the unit operations involved in sugar refining and at each step write a brief sentence explaining what is occurring. Use the information from SKIL site to develop your flow chart. Since the information does not start from the beginning of the refining process, please include an extraction step (extraction is explained in your textbook). Either milling or diffusion is
Offer- This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded.
1. It did not surprise me that logistics has an important impact on the economy because logistics is one of the biggest causes for globalization. Logistics is the movement and management of goods and that is what keeps countries involved with one another.
Read the following short essay, and then write a 3-5 page response (12-point font, double-spaced, normal margins, no cover page, no binders). Your response should do the following three things: (1) state what the main conclusion of the essay is; (2) state what the most important premises (including sub-conclusions) are—i.e., state which premises are most important if the argument is to rationally convince its audience; (3) evaluate the quality of the argument, giving detailed reasons to justify your evaluation. For purposes of evaluation, assume that the speaker is a contemporary Canadian philosopher and the audience is a group of students in Introduction to Philosophy.
In the parenthesis enter the cell number and letter to find total expenses per week. (i.e.) =sum(b5:b11)
1. Based on the readings from weeks one and two, discuss the images of America the European writers constructed to promote colonization and settlement. What kinds of unique natural resources and environmental factors did they extol in their accounts of the New World? Relate these images to natural resources and environmental factors today.
It is widely known that logistics is the life blood of anything major. The logistics and transportation industry in the United
Logistics refers to all the processes involved in storing, moving, transporting or in any other way handling material. Role of logistics in activities before start of material and after completion of manufacture up to transportation to the immediate customer has been well recognized in the past also. But the logistics cost and effectiveness is also affected by, and in turn affect all other activities along the supply chain.
These decisions also affect the economy as they affect the global logistics network, especially when the economy is recovering from the recent financial crisis. Huge investments in the liner shipping have led to bigger ships and over supply of cargo spaces, which in turn affected the demand-supply equilibrium leading to low freight rate under usage of cargo spaces (Clarkson PLC 2014).
The performance of the logistics system has a major impact on cost structures, revenues, service quality, and competitiveness in Australian industry. Logistics activities have been evolving rapidly in response to changes such as globalization, general industry restructuring, new production processes, and technological advances.
The world’s economy has increase within the last few decades due to innovation and globalization and international trade. Many organizations have increased economic activity across the world and have shorten the time it takes products to be produced, transported, and received to consumers domestic and internationally. With the advancement of new technology, many companies have expanded their markets by implementing tools and by the customer and government regulation. With the rise of globalization, warehouses have become a more promenade asset and act as holding facilities until the goods are ready for transit. With the emergence of new innovations, warehouses and now been centrally located to attract more transportation activity transforming way logistics companies operate (Williams, O’Neil 2016). Distribution centers are being centrally located close to highways, it allows logistics companies to pick up loads without long delays. The RFID devices allows warehouses to reduce labor cost, improve accurate inventory and improve the relationship with the customers. Boosting RFID technology drives the consumer market which in driven by globalization, regional distribution and new strategies. Transportation has been a major role in integrating global trade. The delivery of goods is now as important as the production of goods. New technology creates more jobs and more competitive completion among organizations and forced companies to engage strategic planning to compete