Summer Internship Report on Madura Garments

Project Report On Improving Service Level for Institutional Sales SUBMITTED FOR THE PARTIAL FULFILMENT OF POST GRADUATE DIPLOMA IN INDUSTRIAL MANAGEMENT (PGDIM) By Puneet Verma Roll No. 105 PGDIM – 18 Under the guidance of [pic] National Institute of Industrial Engineering (NITIE), Vihar Lake, P. O. NITIE, Mumbai 400 087 Date of Submission: _ _ _ _ _ _ _ Certificate of Supervision This is to certify that Puneet Verma, student of PGDIM, Batch No. 18 has successfully completed the project titled – â€Å"Improving Service Level for Institutional Sales†, nder the guidance of Mrs. Sadhana Ghosh (NITIE) from 11th Jan 2013 to 15th March 2013. Based on the professional work done by him, this report is being submitted for the partial fulfillment of Post-Graduation Diploma in Industrial Management at NITIE, Mumbai Signature Faculty Guide Acknowledgement I wish to extend my sincere and heartfelt gratitude to my guide Mrs. Sadhana Ghosh(Professor, NITIE), whose Guidance and help constantly helped and motivated me during the entire tenure of the project. I am able to say with conviction that I have immensely benefited.Puneet Verma PGDIM-18 Executive Summary The apparel companies cater to various channels such as Department Stores, Trade, Organized Retail etc. Institutional Sales is a nascent business channel that caters to the demand from Institutional customers i. e organizations. Sales to this channel are generally in the form of bulk orders at volume discounts. For example, a pharmaceutical company orders through this channel for gifting shirt to doctors. The majority of the business of apparel organizations comes in through Trade and Department store channels.Orders for those channels come in during the Trade shows held twice a year 6 months prior to the launch of a season (Spring-Summer or Autumn-Winter). Sourcing and production plan for those channels so are essentially done against fixed orders. But for Institutional Channel orders are not predet ermined and customers come in with orders with very short lead time. This makes sourcing and manufacturing strategy for this process completely different from traditional channels. Currently the company Madura Garments (for reference and data) is not able to service these customers at a satisfactory level applying the business processes in place.This is contributed by the fact that the normal business model is significantly different from the requirements of this channel. The approach adopted was to first study the as-is business processes in place and review the past data to ascertain the capability of the current system in place. Next the problems in the current system were identified irrespective of whether the problem was a process or people related problem. A revised process flow was the proposed which will enable the company to service Institutional customers at a satisfactory rate.Lean Six Sigma methodology was adopted to approach the problem using a DMAIC model. The final li st of recommendations include changes in the current business process in the short time frame for immediate enhancement of service levels and long term changes to improve process capability to ramp up the business capabilities. Table of Contents Project Report1 Certificate of Supervision2 Acknowledgements4 Executive Summary5 1. Introduction8 2. Need & Significance of the Project11 3. Objective12 4. Literature Review†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 4. 1 DMAIC†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 13 4. 2 Fishbone Diagram†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 15 4. 3 Cause and Effect Matrix†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 17 4. 4 Failure Mode Effect Analysis†¦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‚¬ ¦.. 18 5. Methodology†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 4 5. 1: Understand the current market and business scenario†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 25 5. 1. 1: Market Scenario: †¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 25 5. 1. 2: Agent Performance: †¦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‚¬ ¦Ã¢â‚¬ ¦ 29 5. 1. 3: Business processes: †¦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‚¬ ¦Ã¢â‚¬ ¦ 30 5. 1. 4: Key Points: †¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 5. 2: Ascertain the current service level of the syste m†¦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‚¬ ¦.. 36 5. 3: Identifying and Defining Problems†¦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‚¬ ¦.. 37 5. 3. 1: Fishbone Diagram: †¦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‚¬ ¦Ã¢â‚¬ ¦ 37 5. 3. 2: Cause and Effect Matrix: †¦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‚¬ ¦ 38 5. 3. 3: Failure Mode Effect Analysis:†¦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‚¬ ¦ 39 5. 3. : Principal Issues: †¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 41 5. 4: Process Improvement Plan†¦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‚¬ ¦ 42 5. 4. 1: Short term changes: †¦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‚¬ ¦Ã¢â‚¬ ¦ 43 5. 4. 2: Long term plans:†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 47 5. 5: Process Control†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1 6. References:†¦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‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 54 Introduction The Aditya Birla Group is in the League of Fortune 500. It is anchored by an extraordinary force of 100,000 employees, belonging to 25 different nationalities. In India the group has been adjudged â€Å" The Best Employer in India and among the Top 20 in Asia† by the Hewitt-Economic Times and Wall Street Journal Study 2007. Over 50 percent of it revenues flows from its overseas operations.The several Group companies under Aditya Birla Group are Grasim, Hindalco, Aditya Birla Nuvo, Essel Mining, Aditya Birla Retail Limited. Aditya Birla Nuvo Limited is a diversified conglomerate and the platform that has launched many new busin esses for India’s Premier Business house, the Aditya Birla Group. Aditya Birla Nuvo has a dozen businesses under its fold, ranging from textiles to telecom. As a leading player, Aditya Birla Nuvo ranks as †¢ The country’s largest premium branded Apparel Company : Madura Garments †¢ Largest Manufacture of linen fabric in India †¢ India’s largest and the world’s fourth largest producer of insulators The second largest producer of carbon black in India †¢ India’s second largest producer of viscose filament yarn (VFY) Aditya Birla Nuvo’s Business: Garments (Branded Apparel) Madura Garments, a division of Aditya Birla Nuvo is India’s leading apparel retail company. It enjoys market leadership in the branded garments business through its power and popular lifestyle brands – Louis Phillipe, Van Heusen, Allen Solly and Peter England. The company has also entered into a distribution agreement with the International b rand Esprit and has opened exclusive brand outlets.It has 2 successful store formats The Collective and PEOPLE. Madura Garments has exclusive showroom space which includes several large format brands outlets of world-class standards, providing top quality retail experience to the consumers. It also has a high visible presence in large department and multi brand stores. The thrust is on brand building through development of innovative new merchandise, exciting communication campaigns and enhancing the product portfolio. The overall marketing strategy has been move from a â€Å"Wardrobe Brand† to a â€Å"Lifestyle† Brand.The company has won many coveted awards in the fashion world like the â€Å"Best Retailer of the Year, Best Apparel Company of the Year, Best Trouser Brand of the Year, Best Smart Casual Brand of the Year† etc. , at well known for a such as Reid Taylor Awards and Images Fashion Awards. To bolster its presence significantly in the exploding apparel retail sector, the company has started retailing its life style brand and affordable popular brands through two new formats- Madura Garments Lifestyle Retail Company Limited and Peter England Fashions and Retail Limited. Contract ManufacturingMadura Garments Exports limited is a wholly owned subsidiary of Aditya Birla Nuvo focusing on garment exports. It is an integrated player in the apparel industry with interest in manufacturing exports of wovens, knits and Full Service Provider business. The company has modern manufacturing facilities and caters to customers like Marks & Spencer, Next, Blackberry, Arrow, Tommy Hilfiger and Menswear House. The organization delivers from design to delivery of merchandise at the customer warehouse. [pic] 2. Need & Significance of the Project Madura Fashion & Lifestyle has a fast growing institutionalized sales business.In December 2011, institutional sales hit an all time high of 4. 43 crores for a month. For FY12 institutional sales will account for Rs 14 crores with a high profitability (CBA). This channel has grown by four times in terms of sales over the last four years. However, the on time in full order execution for this channel continues to be poor. Delayed deliveries and missed opportunities continue to limit the growth of this channel. In this context, there is a need to study the supply chain (planning and execution) of this channel to identify the root cause for service failures and define process and system changes to tackle these. 3.Objective †¢ Mapping of as-is supply chain (planning process, order capture and order fulfillment process): The current business process that is being followed to cater to the customer demands †¢ Establish current service level for this channel: The order service level of the channel derived from the past data that has been obtained †¢ Identify root cause for service failures in institutional business: The major causes that leads to an unsatisfactory service level rel ated to people, process, business issues 4. Literature Review Six Sigma Methodologies: Six Sigma  is a  business management strategy, originally developed by Motorola in 1986.Six Sigma became well known after  Jack Welch made it a central focus of his business strategy at General Electric in 1995, and today it is widely used in many sectors of industry. Six Sigma seeks to improve the quality of process outputs by identifying and removing the causes of defects (errors) and minimizing  variabilityin  manufacturing  and  business processes. It uses a set of  quality management  methods, including  statistical methods, and creates a special infrastructure of people within the organization (â€Å"Black Belts†, â€Å"Green Belts†, etc. ) who are experts in these methods.Each Six Sigma project carried out within an organization follows a defined sequence of steps and has quantified financial targets (cost reduction and/or profit increase). The term  Six Sigma  originated from terminology associated with manufacturing, specifically terms associated with statistical modeling of manufacturing  processes. The maturity of a manufacturing process can be described by a  sigma  rating indicating its yield, or the percentage of defect-free products it creates. A six sigma process is one in which 99. 99966% of the products manufactured are statistically expected to be free of defects (3. defects per million). Motorola set a goal of â€Å"six sigma† for all of its manufacturing operations, and this goal became a byword for the management and engineering practices used to achieve it. 4. 1: DMAIC The DMAIC project methodology has five phases: ? Define  the problem, the voice of the customer, and the project goals, specifically. ? Measure  key aspects of the current process and collect relevant data. ? Analyze  the data to investigate and verify cause-and-effect relationships. Determine what the relationships are, and attemp t to ensure that all factors have been considered.Seek out root cause of the defect under investigation. ? Improve  or optimize the current process based upon data analysis using techniques such as  design of experiments,  poka yoke  or mistake proofing, and standard work to create a new, future state process. Set up pilot runs to establish  process capability. ? Control  the future state process to ensure that any deviations from target are corrected before they result in defects. Implement  control systems  such as  statistical process control, production boards, visual workplaces, and continuously monitor the process.Some organizations add a  Recognize  step at the beginning, which is to recognize the right problem to work on, thus yielding an RDMAIC methodology. 4. 2: Operation Definition: Recall the quote in the â€Å"first step† section of this site, â€Å"You can manage, what you can measure; you can measure, what you can define; you can define, what you can understand†. Operational definition is the first step towards effective management. It helps us build a clear understanding of a concept or a phenomenon so that it can be unambiguously measured. Let us take a very simple example to understand the need and the concept of operational definition.Let us imagine a situation that we wish to buy an all-purpose shirt with 50% cotton and 50% polyester. Would you accept a shirt whose front is made up of 100% cotton cloth and the back made of 100% polyester cloth? Surely not! Clearly we need to (operationally) define what we need. A better expression would be that we need a shirt made up of a cloth having even distribution of cotton and polyester fibers and their proportion by weight (or may be by number) is equal. So far so good, but we also need to have a mechanism to test it.In this case, we can send the shirt to a lab where randomly selected two areas (say 1 cm x 1 cm) – one from the back and one from the front ar e examined for the contents. The lab reports that group of two fibers of each – polyester and cotton are interwoven to make this clothe. Did we mean alternate fibers of polyester and cotton or something else? We now discover that we even need to define â€Å"even distribution†. In a business management scenario, common words such as good, reliable, and accurate (etc. ) can have multiple meanings unless they are (operationally) defined in a specific context.So how do we construct an operational definition? The process is explained with the help of an example in the following figure: [pic] Document the outcome of each process step and that becomes the operational definition. The operation definition must be tested before it is rolled out. 4. 2: Ishikawa’s Fishbone Diagram: The fishbone diagram is a graphical method for finding the root causes of an effect. The effect can be either a negative one, such as a process defect or an undue process variation; or a positiv e one, such as a desired process outcome.Kaoru Ishikawa, a famous Japanese consultant developed this method in the 1960s. It is also known as â€Å"Cause-and-Effect Diagram† or â€Å"Ishikawa Diagram†. The balance chapter details the steps required to construct a fishbone diagram. The example effect to illustrate the concept is â€Å"high petrol consumption in a car†. Step I Identify the process effect to be analysed. Develop an Operational Definition to ensure that it is clearly understood. Write the effect in a box on the right side and draw a horizontal arrow from left to right that touches the box as illustrated in the figure below. [pic] Step IIIdentify the main categories of causes resulting in the effect under consideration. These categories can easily be selected from the applicable six key process elements. These process elements are people, environment, material, method, machinery, and measurement. Add selected categories in the diagram as illustrated in the following figure. [pic] Step III Identify as many causes under each category and add them to the corresponding category. Detail each cause further (recursively) to the lowest level possible. [pic] Analyse this diagram to identify the causes that require deeper investigation.As fishbone diagram identify only potential causes, it may be a good idea to use a Pareto Chart to determine the cause(s) to focus on first. 4. 3: Cause & Effect Matrix The  Cause and Effect Matrix  is a tool which is used to prioritise potential causes by examining their relationship with the  CTQs. CTQ’s are placed on the top of the matrix and causes are place along the left side. The CTQ’s are ranked in terms of importance. The relationship between the causes and CTQs are ranked. An overall score is calculated and the cause with the highest overall score should be addressed first because they will have the largest impact on the CTQs.Steps 1. List the CTQs across the top of a matrix. 2. Rank and assign scores to each CTQ according to its importance to the customer. 3. List the causes on the left side of the matrix 4. Determine correlation scores between each cause and CTQ based on the strength of their relationship (E. g. 1 – weak, 3 – some, 9 – strong) 5. Cross multiply correlation scores with priority scores and add across for each cause 6. Create a  Pareto chart  and focus on the causes with the higher overall scores. The following diagram is a C&E matrix template from  ProcessMA. [pic] 4. : Failure Mode Effect Analysis: A  failure modes and effects analysis (FMEA)  is a  procedure  in  product development,  systems engineering  and  operations management  for analysis of potential failure modes within a system for classification by the severity and likelihood of the failures. A successful FMEA activity helps a team to identify potential failure modes based on past experience with similar products or processes, ena bling the team to design those failures out of the system with the minimum of effort and resource expenditure, thereby reducing development time and costs.Because it forces a review of functions and functional requirements, it also serves as a form of  design review. It is widely used in manufacturing industries in various phases of the product life cycle and is now increasingly finding use in the service industry. Failure modes  are any errors or defects in a process, design, or item, especially those that affect the intended function of the product and or process, and can be potential or actual. Effects analysis  refers to studying the consequences of those failures.The pre-work The process for conducting an FMEA is typically developed in three main phases, in which appropriate actions need to be defined. Before starting with an FMEA, several other techniques are frequently employed to ensure that robustness and history are included in the analysis. A robustness analysis can be obtained from interface matrices, boundary diagrams, and  parameter diagrams. Failures are often found from external ‘noise factors' and from shared interfaces with other parts and/or systems.Typically, a description of the system and its function is developed, considering both intentional and unintentional uses. A block diagram of the system is often created for inclusion with the FMEA, giving an overview of the major components or process steps and how they are related. These are called logical relations around which the FMEA can be developed. The primary FME document or ‘worksheet' lists all of the items or functions of the system in a logical manner, typically based on the block diagram. NOTE: Above shown example format is not in line with mil. td 1629 or Civil Aerospace practise. The basic terms as given in first paragraph of this page are not available in this template! Step 1: Occurrence In this step it is necessary to look at the cause of a failure mode and the number of times it occurs. This can be done by looking at similar products or processes and the failure modes that have been documented for them in the past. A failure cause is looked upon as a design weakness. All the potential causes for a failure mode should be identified and documented. Again this should be in technical terms.Examples of causes are: erroneous algorithms, excessive voltage or improper operating conditions. A failure mode is given an  occurrence ranking (O), again 1–10. Actions need to be determined if the occurrence is high (meaning >  4 for non-safety failure modes and >  1 when the severity-number from step 2 is 9 or 10). This step is called the detailed development section of the FMEA process. Occurrence also can be defined as  %. If a non-safety issue happened less than  1%, we can give 1 to it. It is based on your product and customer specification. Rating |Meaning | |1 |No known occurrences on similar products or processes | |2/3 |Low (relatively few failures) | |4/5/6 |Moderate (occasional failures) | |7/8 |High (repeated failures) | |9/10 |Very high (failure is almost inevitable) | Step 2: SeverityDetermine all failure modes based on the functional requirements and their effects. Examples of failure modes are: Electrical short-circuiting, corrosion or deformation. A failure mode in one component can lead to a failure mode in another component, therefore each failure mode should be listed in technical terms and for function. Hereafter the ultimate effect of each failure mode needs to be considered. A failure effect is defined as the result of a failure mode on the function of the system as perceived by the user. In this way it is convenient to write these effects down in terms of what the user might see or experience.Examples of failure effects are: degraded performance, noise or even injury to a user. Each effect is given a severity number (S)  from 1 (no danger) to 10 (critical). These numbers help an eng ineer to prioritize the failure modes and their effects. If the sensitivity of an effect has a number 9 or 10, actions are considered to change the design by eliminating the failure mode, if possible, or protecting the user from the effect. A severity rating of 9 or 10 is generally reserved for those effects which would cause injury to a user or otherwise result in litigation. Rating |Meaning | |1 |No effect | |2 |Very minor (only noticed by discriminating customers) | |3 |Minor (affects very little of the system, noticed by average customer) | |4/5/6 |Moderate (most customers are annoyed) | |7/8 |High (causes a loss of primary function; customers are issatisfied) | |9/10 |Very high and hazardous (product becomes inoperative; customers angered; the failure may result unsafe operation and | | |possible injury) | Step 3: Detection When appropriate actions are determined, it is necessary to test their efficiency. In addition, design verification is needed. The proper inspection me thods need to be chosen. First, an engineer should look at the current controls of the system that prevent failure modes from occurring or which detect the failure before it reaches the customer.Hereafter one should identify testing, analysis, monitoring and other techniques that can be or have been used on similar systems to detect failures. From these controls an engineer can learn how likely it is for a failure to be identified or detected. Each combination from the previous 2 steps receives a  detection number (D). This ranks the ability of planned tests and inspections to remove defects or detect failure modes in time. The assigned detection number measures the risk that the failure will  escape detection. A high detection number indicates that the chances are high that the failure will escape detection, or in other words, that the chances of detection are low. Rating |Meaning | |1 |Certain – fault will be caught on test | |2 |Almost Certain | |3 |High | |4/5/6 |Mo derate | |7/8 |Low | |9/10 |Fault will be passed to customer undetected | After these three basic steps, risk priority numbers (RPN) are calculated Risk priority number (RPN) – RPN play an important part in the choice of an action against failure modes. They are threshold values in the evaluation of these actions.After ranking the severity, occurrence and detect ability the RPN can be easily calculated by multiplying these three numbers: RPN  =  S  ? O  ? D This has to be done for the entire process and/or design. Once this is done it is easy to determine the areas of greatest concern. The failure modes that have the highest RPN should be given the highest priority for corrective action. This means it is not always the failure modes with the highest severity numbers that should be treated first. There could be less severe failures, but which occur more often and are less detectable. After these values are allocated, recommended actions with targets, responsibility and dates of implementation are noted.These actions can include specific inspection, testing or quality procedures, redesign (such as selection of new components), adding more redundancy and limiting environmental stresses or operating range. Once the actions have been implemented in the design/process, the new RPN should be checked, to confirm the improvements. These tests are often put in graphs, for easy visualization. Whenever a design or a process changes, an FMEA should be updated. A few logical but important thoughts come in mind: ? Try to eliminate the failure mode (some failures are more preventable than others) ? Minimize the severity of the failure ? Reduce the occurrence of the failure mode ? Improve the detection 5. MethodologyA brief outline of the methodology adopted in the project is given below: 1. Understand the current market and business scenario a. Gather historical data from the system to analyze market condition b. Analyze trends and patterns in the sales figures c. Study the current business processes and map the material and information flow 2. Ascertain the service level that the system currently operates at a. Gather data for a specified period b. Ascertain the service level for that period subjected to constraints c. Interpret the data to assess system capability 3. Identify and define the issues a. Identify the principal issues currently affecting service levels b.Use Lean Six Sigma Methodologies to structure the analysis process 4. Propose a Process improvement plan that addresses the need of the system a. Structure all the issues in the current system systematically b. Propose solutions which can positively affect the major issues c. Propose solutions for current service level improvement and long term improvement of business capabilities 5. Propose metrics to effectively control the process once implemented a. Propose metrics that can capture the effectiveness of the system in place 5. 1: Understand the current market and business scenario 5. 1. 1: Market Scenario: Brandwise sales for FY11-12 †¢ 85% of sales contributed by LP, VH †¢ 62% of LP sales contributed by December sales †¢ 31% of overall sales in December [pic] Overall Sales volume for FY ‘11-‘12 †¢ Business runs on relationship based contacts. A client can take away a number of his contacts from a business. †¢ Period for gifting by companies: April ( June †¢ Companies want products by March †¢ So ideally order should be placed by November/December †¢ Educating customers about the functioning of the business is important to obtain feasible targets †¢ Customers generally specify the brand, but may also sometimes specify the colour to coordinate with an event A serviced customer will not look for an alternate source for subsequent orders †¢ A customer may order goods for gifting or internal use †¢ Price sensitive customers †¢ Currently Pharmaceutical is the major player, but new ave nues can be explored (Essar Steel uniform order) †¢ Pharmaceutical companies generally demand a turnaround of 30 days †¢ Pharmaceutical sector generally not affected by downturns †¢ Delivery in correct time and correct order quantity †¢ If delivery is correct then a premium price may be charged †¢ Priority of delivery is low in this channel, the priority should be highest †¢ Customers may reject the order if delivery is delayed for a day. Events. Priority is low as the volume of business is low in comparison with overall business volume †¢ If service level is high then company bargaining power will also be high †¢ Market is susceptible to economic downturns (no order from IT firms for the past 3 yrs) †¢ Agents display a variety of goods to the customer. May sell a rival brand or a different product. †¢ Forecasting is difficult as a company may choose to give a different gift the next year †¢ Satisfied customers does not ensure r eturn customer but provides base for word of mouth marketing †¢ Leverage on the firms brand names †¢ High profit business where the discount depends on the volume of products ordered. No returned goods. †¢ Dealings are made with top management, so client facing operations should be capably handled Customer |Sum of Quantity |Sum of Gross | | | |Total | |Mankind pharma ltd |107500 |55623750 | |Madhuram apparels |14019 |11155274 | |Lupin limited |10460 |9936990 | |Addon holding pvt ltd. |12781 |8356870 | |Supra garments pvt limited |9098 |7067832 | |Padma international corporation |10188 |6298490 | |Unichem laboratories ltd |6555 |5004589. 37 | |Biocon limited |4980 |3650530 | |M/S.Glaxo smithline ltd |3424 |3589379 | |Clairemont enterprises |8138 |3544110 | |Emcure pharmaceuticals limited |5395 |3426004 | |IPCA laboratories limited |3284 |2891923 | |Saffron enterprises (p) ltd. |4118 |2855504 | |Geno pharmaceuticals ltd |4200 |2520000 | |Government of India |3000 |18750 00 | |Society of Petroleum Geophysicists |2028 |1817540 | |Pidilite industries ltd |2500 |1650206. 25 | †¢ 53 customers were serviced where ordered quantity was over 100 †¢ 9 orders were serviced where the ordered quantity was more than 5000 †¢ 17 orders were worth more than Rs 10,00,000 The revenue generated from these orders contribute to 88% of the overall revenue †¢ Orders exceeding 5000 contributed to 74% of overall revenue †¢ Revenue per unit from large orders generally lesser than that from medium/small orders 5. 1. 2: Agent Performance: Agentwise breakup of sales amount Proportion of sales made through agents as opposed to directly 5. 1. 3: Business processes: [pic] Current scenario of sourcing options: †¢ Sourcing not dependent on Core or Fashion, depends on how Core is defined †¢ Mills are large entities and Madura cannot consume their entire produce †¢ Sourcing time depends on overall demand for a fabric in the market †¢ Sourci ng strategy dependant on individual Style Codes For a style code with constant Y-o-Y demand an buffer inventory of 1000 mts is maintained at either factory RM level or supplier level †¢ A fabric from the current season, brand checks whether they can sell the product at the full priced market , then they service the institutionalized sales customers †¢ No separate sourcing strategy for institutional channel †¢ Sourcing strategy fixed at the start of the season †¢ Products manufactured against fixed orders †¢ Fabric sourced to meet only the fixed demand †¢ Excess fabric stock due to customers cancelling orders †¢ ARS (Automated Replenishment System) not affecting sourcing †¢ Sourcing for one style code done only once Sourcing is done according to the preplanned production schedule †¢ Fabric is not allocated to any channel, the FG is allocated to a specific channel †¢ If fabric is not sold off to the specific channel then the stock is o ffered to the same/ different channel the next season †¢ Once the plan for the season has been made the plan is not subjected to any major change 5. 1. 4: Key Points: Plant Capacity: †¢ Plant capacity is allocated to various brands depending on their orders from trade shows/forecasts †¢ The allocated plant capacity is fixed for a year and is reviewed at the beginning of the season †¢ Excess fabric stock from previous season piled-up at factory (inventory build-up) Production Planning: No separate capacity is present to cater to institutional sales †¢ Brands utilize excess capacity or reschedule work orders to cater to Institutional customers †¢ Service level dependent on demand from other traditional channels Institutional Orders: †¢ Factory receives direct enquiry from the Institutional Sales team †¢ Factory check reserve stock and ready sourcing options for fabric and trims (lower lead time to source trims than brands) †¢ Schedule produ ction plan according to excess capacity available i. e unutilized by the brands 5. 2: Ascertain the current service level of the system Data Collection: †¢ Data collected from mail records from Jan ( Mar 2012 Enquiries for less than 100 units neglected †¢ Orders divided into separate groups depending on ordered volume †¢ Overall service levels for the period is at 35% †¢ Current process can service only about 16% of the total volume of demand †¢ None of the 10000+ orders have been serviced †¢ Service level for orders between 2000-10000 is the highest †¢ Excluding the very large orders, the company serviced 40% of the total volume of demand |Row Labels |Accepted |Despatched |Enquiry |Rejected |Grand Total |Service Level | |500-2000 |7 |5 |1 |21 |34 |0. 6 | |2000-10000 |2 |4 |2 |5 |13 |0. 55 | |10000+ | | |2 |4 |6 |0 | |Grand Total |10 |15 |5 |47 |77 |0. 35 | |100-500 |225 |1725 | |3380 |5330 |0. 37 | |500-2000 |5240 |4050 |1000 |18400 |28690 |0. 34 | |2000-10000 |14380 |11500 |9500 |33500 |68880 |0. 4 | |10000+ | | |51000 |144000 |195000 |0 | |Grand Total |19845 |17533 | |High Turnaround Time |Fabric catalogue not provided for IS |567 | |High Turnaround Time |Information is decentralized |567 | |Unavailable fabric |Low clarity regarding reserve stock level |441 | |Unavailable fabric |Sourcing not done for Institutional Channel |441 | |High Turnaround Time |Low clarity regarding reserve stock level |441 | |Low Priority of Institutional sales |Volume of business w. r. overall business |441 | |Unavailable fabric |Volume orders |405 | |Unavailable capacity |No separate plant capacity for Institutional customers |245 | |Low Profitability |Discount margin offered |245 | |High Turnaround Time |Response time to get back on a query |245 | |Unavailable capacity |Volume orders |189 | |Unavailable capacity |Current utilization of factory for retail channels |175 | |Delayed Delivery |No separate plant capacity for Institutional customers |175 | |Low Profitability |Price sensitive customers |147 | |Delayed Delivery |Current utilization of factory for retail channels |125 | |Low Priority of Institutional sales |Price sensitive customers |105 | |Competitor Action |NOS range not always available |105 | |Competitor Action |Agents working for multiple companies |45 | 5. 3. 4: Principal Issues: Fabric Stock: †¢ Fabric catalogue is not provided for IS leading to lack of clarity for agents and IS team †¢ Reserve fabric stock at factory level is not visible to IS team †¢ Sourcing for fabric is not done for Institutional customers Process: †¢ Priority for Institutional orders are low †¢ Information is decentralized leading to a high turnaround time †¢ Bulk orders from Institutional customers leading to shortage of available capacity †¢ Slack information flow between brand and factory leading to delayed production Planning: †¢ Lack of planning and subsequent strategizing for achieving tar gets Problems with forecasting the sales of this channel †¢ Manufacturing for orders are done on an ad-hoc basis 5. 4: Process Improvement Plan The proposed solution has been broadly divided into short term actions and long term actions: Short term actions: a. Channel potential †¢ Dispel value chain image †¢ Communicate benefits of the channel †¢ Change accounting standards for brands for catering to IS b. Fabric stock visibility †¢ Catalogue of reserve stock in factory †¢ Swatch set, inventory record of current stock made visible to IS team c. Process capability †¢ Sourcing done on a limited scale by the IS team †¢ Book order for a limited quantity of core range during trade show Plant capacity set up to cater to Institutional customers exclusively Long term plans: †¢ Revamp Order Interface †¢ Integrate sourcing solutions †¢ Create and maintain a database of mills †¢ Create an online portal for centralized information stor age from the brand, factory and IS team †¢ Formulate ramp-up strategy †¢ Target a service level of 100% for orders within 5000 †¢ Process should be capable of handling 5000+ orders with a lead time of 45 days †¢ Target new segments to increase business volume †¢ Create a low price point brand, Byford, to cater to demand for price sensitive customers 5. 4. 1: Short term changes: Channel Potential: †¢ Apprehension of brands regarding profitability and quality of products offered Demand from this channel is an additional demand (basic difference from value channel) †¢ Quality assurance according to brand standards †¢ Adhering to predetermined discount slabs (PC:MRP ratio) †¢ Potential to facilitate fabric stock liquidation (AS has already prepared swatch set) Process Capability: †¢ NOS stock not always available leading to business loss in Core range †¢ IS team should form some sourcing capabilities by using the standard mills â₠¬ ¢ IS team can also book a certain range of core products during trade shows (brands currently identify 5 styles that will sell in IS) †¢ Separate plant capacity based on past year minimum demand per month for the past year Fabric stock visibility: Swatch set of reserve fabric stock to be made and sent to the IS team †¢ A basic database of current stock from traditional channel that the brand can offer for IS †¢ Information clarity between the stake holders for fabric stock to be centralized Key Changes: †¢ Central repository of information regarding reserve stock from factory and excess fabric stock from all national mills adhering to quality standards †¢ Repository periodically updated for fabric from current stock (dropped order) that can be offered to Institutional customers †¢ Agents have an upstream visibility regarding fabric on offer, therefore enabling queries to be addressed on first contact IS team and agent have stock visibility to reply to queries better, shortening the order capture time †¢ IS team itself explores sourcing options if fabric not present with brand †¢ Interaction with brand minimized regarding the fabric stock information †¢ Interactions between contact points in the whole process flow reduced Non-Availability of capacity: †¢ Plant capacity not allocated to Institutional sales †¢ Delay in order delivery due to lack of capacity †¢ Separate line to cater to IS specially during peak season (Aug/Sept) †¢ Line can be used for traditional channel in case capacity unutilized †¢ Factory to have the capability to manufacture 7000 units for IS per month 5. 4. 2: Long term plans: Strategic goals: Target a service level of 100% for orders within 5000 units †¢ Aim to serve 12 very large orders (revenue over Rs. 50,00,000 every fiscal year) †¢ Service an order with volumes larger than 5000 in 45 days lead time (considering fabric sourcing is required) Expansion: â⠂¬ ¢ Pharmaceutical sector contributes to 90% of the current business †¢ Decrease dependency on one sector by exploring new avenues †¢ Actively ask agents to promote business to new customers and provide incentive if a new sector is breached (volume orders) Brand development: †¢ Byford currently caters to Institutional customers †¢ Make Byford capable of servicing parallel industries like uniform orders, that are not being serviced by LBRDs Byford can service internal requirement for manufacturing industries that cannot be serviced because of price point issues (accept orders only beyond a certain volume) Key Changes: †¢ Interface is created to capture the entire information in an accessible format †¢ Interface provides information about style code, fabric properties, swatch, quantity available, estimated manufacturing capacity and price of product †¢ Processes typically addressed after an enquiry is expedited to be processed beforehand †¢ Cus tomer driven ordering system which minimizes the unstructured interaction between the various stakeholders †¢ Customer has ready information regarding the quantity available, fabric availability and tentative delivery dates Price, fabric and plant capacity issues are dealt with in a structured manner to avoid unnecessary delays n the system †¢ Information is centralized successfully and the interface can be further utilized by other channels (e. g: a Trade customer wants to order a Core range) 5. 5: Process Control Auditing Measures: †¢ Brands feel it is not profitable to sell to Institutional channel because of the 67. 3% transfer price between MFL & MGLRCL †¢ Monthly targets are affected as brands service IS orders †¢ Separate auditing for sales made through Institutional channels Process Capability: †¢ Measure of defects in delivery (quantity & quality) for orders accepted †¢ Measure to be Defects Per Hundred Opportunities †¢ Service level: the number of accepted enquiriesProcess Dashboard: a. Historical: †¢ Data for the past quarter †¢ Revenue †¢ Selling price †¢ CBA †¢ Orders accepted †¢ Orders served †¢ Monthly plant utilization b. Exceptions: †¢ Data outliers in business process †¢ Largest enquiry by volume †¢ Largest order accepted †¢ Longest delay c. Current status: †¢ Enquiries under process †¢ Enquiries potentially worth over Rs 10,00,000 †¢ Actual sales vs target sales d. Future: †¢ Current orders under process †¢ Utilization of plant capacity by IS †¢ Scheduled vs expected delivery dates 7. References: Toyota Kata: Managing People for Improvement, Adaptiveness and Superior Results by Mike Rother †¢ The Toyota Way by Jeffey Liker

Bus 520 Assignment 1

Consensual Relationship Agreements By: Vickie Gonzalez Bus 520 – Leadership and Organizational Behavior Professor: Dr. Marilyn Carroll October 24th, 2012 Workplace romances are now one of the challenges that organizations of all sizes have to address. How they address them varies from organization to organization. Some businesses and organizations strictly prohibit them in any form or fashion, while others prohibit them when the participants are in certain roles within the organization.Some companies have chosen not to address the issue at all and others are using a more formal method of documenting and mitigating the risk they feel these relationships pose. One of the methods of documenting, and potentially mitigating, this risk is known as a consensual relationship agreement or CRA. In the text that follows I will argue for the use of CRA’s in the workplace. Secondly, I will present a counter argument for the use of CRA’s. Then we will then look at the ethical principles involved in the use of CRA’s. Lastly I will present another option that may be available for addresses these consensual relationships.First, let’s look at what brought about the need for CRA’s. On June 28th, 1914 Gavrilo Princip, of Sarajevo, assassinated the Archduke and heir to the throne of Austria, Franz Ferdinand (Collins, 2008, p. 9). Thirty-seven days later World War I began, and with it, so did what some see as the beginnings of women entering the workplace. The Munitions of War Act of 1915 moved twenty-one percent of Britain’s wives, sisters, mothers and daughters into the workforce (Woolacott, 1994, p. 17). Factory workers became soldiers and the women in their lives became factory workers.By 1941, and the United States’ entrance into World War II, 18. 9 million American women had entered the workforce as well (Weak-Baxter, 2010, p. 14). Japan had attacked Pearl Harbor and patriotism was welling just as strong in American women as it was in American men. Now, according to the US Department of Labor, there are 72 million women in the civilian labor force alone (2012). The years following World War II were a time of challenge, adaptation and diversification for business, and revolution and exploration for women. Harassment, specifically sexual harassment, is one of those hallenges faced by businesses and employers as of a result of workplace diversification. Inappropriate conversations, unwanted advances and uncomfortable physical contact are some of the ways sexual harassment can occur. According to Hellriegel and Slocum, â€Å"Sexual harassment refers to unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature. † (p. 52). To be clear, sexual harassment can, and has, affected both women and men over the years however up to half of all working women have reported experiencing some form of sexual harassment in the career (Vijayasiri, 2008, p. ). It wasn’t until 1986 though that the Supreme Court recognized sexual harassment as a violation of Title VII in the case of Meritor Savings Bank v. Vinson (O’Brien, 1994, p. 1). Before the high court’s ruling, however, the Equal Employment Opportunity Commission had begun to address the issue by drafting hostile work environment guidelines that included sexual harassment (O’Brien, 1994, p. 4). These guidelines would serve later to guide the high court’s decision. There are many more cases like this one we could look at.In 1991, sexual harassment became a household term as Anita Hill testified before congress stating she was sexually harassed by a current nominee for the Supreme Court. In her statement to the Senate Judiciary Committee Ms. Hill stated, â€Å"It is only after a great deal of agonizing consideration, and sleepless, number of , great number of sleepless night, that I am able to talk of these unpleasant matters to anyone but my close frie nds† ( Black Scholar, 1991, p 1). For many American this was the first time they had really thought about or discussed sexually harassment.It was on our televisions, out in the open, for the whole world to see. As a result of brave employees like Ms. Hill and many others sexual harassment is no less tolerated in the workplace and employers are required to have specific policies addressing it. Now what happens when the relationship between two employees is consensual? No harassment has occurred. Romance is in the air. Some organizations have policies that prohibit workplace relationships of any kind and participating in one is grounds for termination. Other businesses only prohibit these relationships in the event that one party reports to or manages the other.More and more firms are using consensual relationship agreements or CRAs. A CRA is a written agreement or contract in which the involved parties agree to specific guidelines in the workplace (Hellriegel/Slocum, 2011, p. 6 5). This is one of the practices or policies an organization can use to mitigate the risks associated with workplace relationships. In this agreement the parties involved state that the relationship is voluntary. They agree to abide by any and all anti-harassment or anti-discrimination policies the business has in place, including reporting any violation of these policies that may occur.They also agree to behave professionally at all times which includes avoiding even the appearance of favoritism. There are proponents and opponents of the use of these agreements in the workplace. I agree with the proponents of the use of CRAs in the workplace. Hellriegel and Solcum mention several arguments in favor in CRAs in the workplace in our text. I would like to look at three of these. The first argument that Hellriegel and Solcum mention is that CRAs help mitigate the risk of any sexual harassment litigation (p. 65). I have to agree with this argument. Office relationships can be wonderful.I know several happy couples who met at the office. They manage their personal and professional lives well. However this is not always the case, and when the relationship fails, things may change. This can be especially true if this relationship involved one part that directly, or even indirectly reports to the other. The employee may suggest they were pressured into the relationship by their manager. The manager may resent the employee and treat them unfairly. Both of these scenarios, and many others, open the doors to litigation. The employer in both of these cases could be found liable in a sexual harassment suit.Damages awarded in these cases can be punitive and compensatory. In 1997 large corporations spent more than 6 million for each sexual harassment suit they defended themselves against and/or settled (Vijayasiri, 2008, p. 2) Employers can protect themselves from this risk by ensuring they have a very clearly stated workplace relationship policy that, in my opinion, should i nvolve the use of CRAs. The second argument is favor of the use of CRAs is that they help to reduce the appearance of favoritism in the workplace (Hellriegel/Slocum, 2011, p. 65).Ensuring that there is not even the appearance of favoritism in the workplace is not just a matter of fair policy. In many cases a third party can sue their employer for sexual harassment if they feel they are being discriminated against as the result of a workplace relationship. Employees are human and emotions and perception are part of being human. No employer can predict what behavior will be acceptable to one employee and offensive to another, A CRA requiring both participants in the relationship to behave in a professional manner can help minimize this risk of offending a third party.In 2001, the United States Court of Appeals for the Second Circuit upheld a verdict in favor of Diane Leibovitz for $60,000 against the New York City Transit Authority or NYCTA for what the court determined to be a hostil e work environment (Leibovitz v. NYCTA, 2001). Ms. Leibovitz sued the NYCTA for sexual harassment and emotional distress after confronting her employer regarding the sexual harassment of 3 other female co-workers. Ms. Leibovitz’s job was threatened if she did not remain silent.As a result of these threats she suffered from depression and sleep deprivation. Ms. Leibovitz was not the victim of any sexual advances or misconduct, however, witnessing it and her employer’s inaction created a hostile work environment and a $60,000 judgment on her behalf. The third agreement presented in the text in favor of the use of CRA’s is that they create a forum where human resources can talk openly with employees about the responsibilities and ramification that come with an office romance (Hellriegel/Slocum, 2011, p. 5). This is simply an opportunity for the employer to remind the employee what behavior is and is not appropriate in the workplace. The employer can also restate th e company’s commitment to preventing sexual harassment. This is the time for open and honest discussion in the hopes that awareness and understanding may prevent litigation. Those who argue against the use of CRA’s in the workplace argue that they are a violation of the employee’s privacy and in-effective.

Accounting Theory Effect on Positive Approach to Accounting Research

The positive approach to accounting research has examined in this research. This research is intended to done to find out the causes and effect on positive approach to accounting research. In the context of accounting this research is done to find out the cause for the cause of face to face interaction is replaced by in-personal behaviors for making various decisions. The ontological and epistemological assumptions to find out the significance of positive accounting research, for this purpose the various empirical studies has been done in order to find out the significance of positive accounting theory (Zmijewsk,2012). The main argument that can be discussed to critic includes the ontology and epistemology of positive research, the theoretical model has discussed, measurement to test the theoretical model, shifting from testing to estimation of hypothesis, there is need of data archives for measuring important concept and finally the extensive replication needed. The author of the study has claimed Positive Accounting Theory for conducting his related research. The paper is emphasizing on the broader view with the intention to develop the casual concept explaining the behavior of human in accounting setting other than the exist example. The examination of this program is based on ontology and epistemology. The rationale of measurable theory testing, while externally practically equivalent to Popper's misrepresentation basis, is substantially weaker. The program which has been used in the research is potentially powerful, the major problems that had identified in the research are the casual construction for the model to be tested, the undue reliance on hypothesis test logic has determined, lack of interest has identified in the parameter of the numerical values, the insufficient amount of replication has recognized, and the decision are based on the qualitative approach for examination   rather to be tested on the basis of quantitative appro ach. Several of the good empirical studies has considered for the Illustration purpose (Chen, 2013). In accounting a positive approach is currently focused, in order to achieve the scientific objectives. Since the Kuhn’s portrayal of normal sciences has fits into the great positive accounting research. The probabilities are quickly talked about Kuhnian upheaval and crises to accomplish its potential which may be free of positive accounting. The research question has been formed as per according to the stated hypothesis in the given article which are stated as follows: Does there is the world exist which is independent to our imagination? Does the events are completely random or intervention of the world itself? Does the focus of intellectual enquiry is to use the observation which helps to gain the world’s understanding? Does the normal people are fairly obtaining the reliable information about world’s event? The author of the study has a keen focused on the events that has been occurred eventually or on interventional basis. The author’s stated hypothesis and research questions are followed by literature review which is based on the positive accounting theories and its related issues. The critics are done on the main points that has represented by the author of the study which is based on ontology and epistemology of positive research and its falsification and hypothesis testing. The author of the study said that positive accounting theory is a trademark term, it means that as compared to the other particular theories the positive research is found broader. After studying the empirical studies it has found an argumentative point that in differ types of organization the concept of accounting is are the main caused behind the self-interest of many parties that interact with one and other through express and implied contract. This is the factor which is not only encouraged by the organization’s manger but the decision is also made by the regulator and other expert of academics (Huber, 2014). The author of the study said that these decisions are useful to the organization but rationally it is not linked with positive accounting theory. From the second empirical studied the author of the study is found to be in the support of the discussion, the author of the study has said that about 80% of the rational behavior is correct, but the examination might not be done on the exact basis. Its need to be concerned that without getting assuming the rational behavior how it could be possible for auditors to make judgments. From the empirical study it has been elaborated that the positive accounting theory are not found more border then positive accounting research. The causes which are defined due to the non-rational aspect of psychology of humans qualify positive which is considered as the scientific accounting research (Cato, 2016). According to the author of study it is presented that it is not necessary that all researches are qualified for the circumstances that positive accounting research   don’t find similar to the scientific accounting research. Some of the open question pursue under interpretive research.   It has been found in the study that human rationality is socially- constructed therefore they cannot observe the world of its own circumstances, the description of other participant is also involve. It has been raised as an argumentative discussion that the program that has been constructing with the aim to fulfill the objectives is because of the accounting futile phenomena. It has been said in the argumentative discussion to the point that how advocated is the interpretive study of the presumptions of positive look (Bhaskar, 2013). The socially built nature of the truth is not an insuperable issue: termite hills and wolf packs are socially developed, yet are passably agreeable to logical review. Interpretive evaluates contend that "people are distinctive," yet that is at present a matter of attestation instead of exact confirmation: we basically don't comprehend what lived encounters and shared implications go into the social development of a wolf pack (Lucas, 2014). According to the author of the study it has been found that the proper criteria of the research are needed to be evaluated. The collection of data should be done by the evolvement of many scientific researches. A researcher needs to be well focused while evaluating whether to choose qualitative technique or quantitative techniques for conducting research. The author if the study stated that the accumulation of data can be suggested by sine other inductively but the author also defined that the induction is not the only possibility that make the theory correct. The author stated that the any kind of induction cannot be able to prove the theory. From the other empirical study it has found that the author is in the support the logic over the acceptance of various theories that evolved over the centuries and the popper is the base of understanding. Working regular researchers, when they consider logic of science by any stretch of the imagination, have a tendency to acknowledge Popper's p ortrayal as genuinely near what they do. Fundamentally, the system might be abridged as takes after: (b) Develop a formal hypothesis, with testable expectations, that is reliable with all present important and solid experimental proof. The expectations require not be quantitative, but rather quantitative expectations are favored where conceivable in light of the fact that they are more powerless to distortion. (c) Test the expectations of the new hypothesis against new perceptions in circumstances where the new and old speculations make diverse expectations. Dismiss whichever hypothesis comes up short the test, once the result is clear (so that observational mistakes, for instance, can't drive the outcome). (d) Repeat steps (b) and (c) until the end of time The author of the study said in the argumentative way that numerous sciences are to a great extent or entirely quantitative, and sciences frequently move toward becoming more quantitative as they develop. Be that as it may, there are numerous respectable subjective sciences, (for example, plant science, geography and zoology); and some effective speculations, (for example, Darwin's hypothesis of development) are simply qualitative.16 It is a typical mix-up in the sociologies to expect that positive and quantitative research are the same, prompting significant perplexity in considering inquire about which is sure however subjective. The author from the other empirical studies supported a point in favors by stated as or, on the other hand all the relapse based reviews, what amount do we truly know concerning how reviewers, themselves, value a review? How do they decide a delicate offer and what recognizes the conduct also, introduction systems of review accomplices or firms with higher achievement rates in winning review tenders? What number of review firms values their reviews utilizing broad/point by point relapse conditions? The author of the study found that the positive accounting theory is useful if the circumstances will focused significantly. It has found that the positive accounting theories are providing a base to demonstrate that target objective of accounting is achieved more efficiently by the implications of correct theory model. It has been analyzed that there is a need to focus on the quantitative approach as well instead of only making their focus strong on the qualitative measurement. The program that has been used in the research is seems potentially powerful.   The positive approach is found useful for the organization in order to archive the target goals of accounting effectively.   The author of the study found that the correct use of model and principle are essential for achieving the stated accounting goals. The limitations while conducting the research includes the limitation of time and cost. The limitation is faced while distributing the questionnaire. The biasness also occurred from the researcher’s side and it is totally unavoidable. The research is done in with the very limited scope because of the limited time frame. The answer of some question is not fully understandable there must be lackness in answering some questions. The margin of error is always associated. The positive way to deal with accounting research has inspected in this exploration. This exploration is planned to done to discover the causes and impact on positive way to deal with accounting research. With regards to accounting this examination is done to discover the reason for the reason for eye to eye connection is swapped by in-individual practices for settling on different choices. The ontological and epistemological suppositions to discover the criticalness of positive accounting research, for this reason the different exact reviews has been done with a specific end goal to discover the hugeness of positive accounting hypothesis (Zmijewsk,2012). The fundamental contention that can be talked about to faultfinder incorporates the metaphysics and epistemology of positive research, the hypothetical model has examined, estimation to test the hypothetical model, moving from testing to estimation of speculation, there is need of information documents for measuring imperative idea lastly the broad replication required. The creator of the review has guaranteed Positive Accounting Theory for directing his related research. The paper is stressing on the more extensive view with the aim to build up the easygoing idea clarifying the conduct of human in accounting setting other than the exist case. The examination of this program depends on philosophy and epistemology. The method of reasoning of quantifiable hypothesis testing, while remotely essentially proportional to Popper's distortion premise, is considerably weaker. The program which has been utilized as a part of the exploration is possibly intense, the real issues that had distinguished in the exploration are the easygoing development for the model to be tried, the undue dependence on speculation test rationale has decided, absence of intrigue has distinguished in the parameter of the numerical qualities, the inadequate measure of replication has perceived, and the choice depend on the subjective approach f or examination rather to be tried on the premise of quantitative approach. A few of the great exact reviews has considered for the Illustration reason (Chen, 2013). In accounting a positive approach is right now engaged, with a specific end goal to accomplish the logical destinations. Since the Kuhn's depiction of ordinary sciences has fits into the considerable positive accounting research. The probabilities are immediately discussed Kuhnian change and emergencies to fulfill its potential which might be free of positive accounting. Zmijewski, Mark E., and Robert L. Hagerman. "An income strategy approach to the positive theory of accounting standard setting/choice."  Journal of accounting and Economics  3, no. 2 (1981): 129-149. Chen, W., Hribar, P., & Melessa, S. (2016). Two-stage regression analysis and biased estimates in accounting research: An application of the Frisch-Waugh-Lovell theorem. Ecker, F. (2016). Review of Recent Research on Improving Earnings Forecasts and Evaluating Accounting?based Estimates of the Expected Rate of Return on Equity Capital. Discussion of Easton and Monahan.  Abacus,  52(1), 59-69. Beattie, V. (2014). Accounting narratives and the narrative turn in accounting research: Issues, theory, methodology, methods and a research framework.  The British Accounting Review,  46(2), 111-134. Christensen, H. B., Lee, E., Walker, M., & Zeng, C. (2015). Incentives or standards: What determines accounting quality changes around IFRS adoption?.  European Accounting Review,  24(1), 31-61. Miller, G. S., & Skinner, D. J. (2015). The evolving disclosure landscape: How changes in technology, the media, and capital markets are affecting disclosure.  Journal of Accounting Research,  53(2), 221-239. Casey, R. J., & Grenier, J. H. (2014). Understanding and contributing to the enigma of corporate social responsibility (CSR) assurance in the United States.  Auditing: A Journal of Practice & Theory,  34(1), 97-130. Huber, D. (2015). ON THE HEGEMONY OF FINANCIAL ACCOUNTING RESEARCH: A SURVEY OF ACCOUNTING RESEARCH SEEN FROM A GLOBAL PERSPECTIVE.  Journal of Theoretical Accounting Research,  11(1). Christensen, A. L., Cote, J., & Latham, C. K. (2016). Insights regarding the applicability of the defining issues test to advance ethics research with accounting students: A meta-analytic review.  Journal of Business Ethics,  133(1), 141-163. Bhaskar, R. (2014).  The possibility of naturalism: A philosophical critique of the contemporary human sciences. Routledge. Lucas, S. R. (2014). Beyond the existence proof: ontological conditions, epistemological implications, and in-depth interview research.  Quality & Quantity,  48(1), 387-408.

Venture Capital Research Paper Example | Topics and Well Written Essays - 1250 words

Venture Capital - Research Paper Example As per the survey conducted by the Ernst &Young in the year 2008, there were 56 percent of exits of venture capital companies out of which 12 percent of the companies belonged to the pharmaceutical and health care sector (Ernst &Young). Healthcare companies like Novartis Venture capital division and Johnson and Johnson Development venture capital divisions earned meager amount of profits during recession. The pharmaceutical companies also make further investments in life science companies across biotech, medical devices and diagnostics. The main motive of the venture capital divisions of pharmaceutical companies is to provide startup capital to other medical companies which have a better prospect in the future. For example the Novartis venture capital division provides venture capital fund only to those companies which adhere to their corporate development plans. South Korea is an emerging market for venture capital investments in the pharmaceutical companies hence medical companies like Novartis and Johnson and Johnson have taken initiatives of providing investment to medical and life science companies who are at an early stage (Novartis Venture Funds, â€Å"Our Funds†). Venture capital funding to Pharmaceutical Industry in United Kingdom (UK) UK is considered as the second largest venture capital market in Europe. There are three types of venture capital funds being offered in UK. 1) Seed fund – This fund is offered to a novice business investor. 2) Start Up fund – This fund is offered to a company in its nascent stage 3) later stage Fund – This fund is provided to a business company who is in the maturity stage. The pharmaceutical companies in UK invest in Venture capital funds primarily because the returns of the fund are very good and it is one of the most easily available funds in UK. Some of the venture capital companies in UK provide venture capital funds exclusively to the pharmaceutical and health sector of UK. The names of these companies are as follows: 3i This company invests exclusively in the healthcare sector and provides start up funds for novice pharmaceutical companies. Abingworth It is a long established venture capital company which invests in biomedical companies. Advent Venture Partners LLP The company was established in the year 1981; it has managed to invest ?500 million in the year 2011. It invests in Life Science companies. Alta Partners The company has been funding over 130 life science companies of UK since 1996. ARCH Venture Partners The company invests in medical companies which are at an early stage and have the potential to grow into successful enterprises. The company invests primarily in companies co-founded with leading scientists and entrepreneurs, concentrating on bringing innovations in life sciences, physical sciences, and information technology. Atlas Venture Ltd Atlas Venture invests in those life science companies which are in their early stages of growth. Burrill & Co mpany This is a merchant bank in UK focusing exclusively in companies dealing with biotechnology, pharmaceuticals, diagnostics, devices, human healthcare and related medical technologies, nutraceuticals and wellness, agricultural biotechnology, and industrial biotechnology. The company

Business Research Methodologies Assignment Example | Topics and Well Written Essays - 1500 words

Business Research Methodologies - Assignment Example The world of banking finance is highly integrated with various kinds of complex concepts as well as various kinds of frameworks related to operating standards as well as legal issues. The integration of technology in its complex processes will no doubt help in better value generation for the customers while providing a level ground in regards to the competing of the financial organizations with each other. In this project, the focus is on gauging the impacts on the customers of Lloyd’s Bank with regards to growing general fascination towards internet banking. The research proposal for this topic comprises an introduction, a brief literature review as well as the method for conducting the research. Introduction The world of the 21st century promotes an environment where tremendous competition is a steady factor of everyday life of the masses around the world. The competition factor has become a constant issue in the modern day society mainly because of rapid technological chang es, which is coupled with fast paced development. The technological boom that has happened since the early part of the previous decade has brought into play a strong wave of technological enrichment of the lives of the masses in the developing as well as the developed countries. The technological boom of the early 2000s enrolled into effect tremendous amount of technological progress on the lines of telecommunication technology as well as the rapid acceptance and penetration of the internet. The high level of penetration of the internet has played a major role in creating a seamless virtual world in the internet domain, where there is no presence physical geographical boundaries. The virtual world which is connected through the internet platform has merged the various nations and countries around the world into a single entity. This has greatly facilitated the rise of various kinds of trends related to globalization and innovation. It has to be mentioned that the trends of innovatio n greatly facilitates in the process of new product development in various countries around the world. Interestingly, the virtual medium of the internet plays the role of communicating the value of the newly developed innovative products to the customers and target audience around the world thereby creating a typical trend of globalization. This trend of globalization, which might emerge from a market that can be either located in the developed or the developing region might result in the creation of demand for new kinds of products and services in various markets around the world (Doole and Lowe, 2008, p. 3). Sensing the demand for new kinds of products and services in various global markets, various organizations around the world are focusing on the process of market development. As a method of market development, the organizations which are based in a particular market are increasingly participating in entering in to foreign markets around the world. As per the current trend, due to the slowdown that is persisting in the economies of various developed markets present in the western nations of UK, Europe and USA, companies are increasingly focusing on new emerging markets of the BRIC nations. Thus, it has to be said that the development of business ventures of various international organizations is creating the need of highly dynamic

Discussion 10 Essay Example | Topics and Well Written Essays - 250 words

Discussion 10 - Essay Example With time "junk DNA" or the "non coding DNA" has been considered to play significant regulatory roles in modulating the performances or actions of the "coding DNA". Knowledge about this relationship is highly imperative as it depicts the behavior of gene in artificial insertion of unknown genes. Only a few studies could understand the role of this relationship in structural formation, but an understanding about the regulation is yet to interpret. Since non-coding genes were not assigned any function but they are present in the cell carries a deep meaning. If they do not play any role, the sequence of syllables should be random, which is not. This is a great subject of research as the "junk DNA" possess some kind of coded information which scientists are trying to decode. Potentially, some of these genes are thought to possess repetitive patterns which may be associated with cancer. Role played by Junk DNA- Harvard Medical School has reported that "junk DNA" in yeast has some regulatory role in controlling nearby genes. They may play important role in controlling gene expression during developmental process. They may act as enhancers or silencers for transcription of proximal genes. They may regulate translation process. Thus, "junk DNA" is not actual garbage but it is a way to conserve cellular energy. As these genes play vital role in modulating coding sequences, they are no more considered as junk

Handling Difficulties with Speech Essay Example | Topics and Well Written Essays - 750 words

Handling Difficulties with Speech - Essay Example This research will begin with the statement that It goes without saying that people, being social creatures, need communication. They need to articulate their ideas and listen to other opinions. It is always frustrating for people to be deprived of the possibility to share their ideas. For instance, modern globalized world presupposes communication among people pertaining to different cultures. Language barriers often become quite a considerable obstacle for such communication. On the other hand, some people have certain speech peculiarity (e.g. stuttering) which makes it more difficult to express their ideas fluently. Nevertheless, people overcome these speech difficulties in different ways since it is essential for them to share their ideas. It is possible to consider two examples of two individuals’ triumph over speech difficulties. Nowadays many people face the need to communicate with people speaking other languages. The easiest way to overcome this problem is to learn th e necessary language. However, the process of learning the language can be much more difficult than it may seem. For instance, David Sedaris when learning French was unlucky to have a really strange teacher who humiliated her students for not knowing something. Notably, Sedaris did not have any troubles with learning until he attended the first class: before â€Å"beginning school, there’d been no shutting† him up, but soon the author â€Å"was convinced that everything† he said was â€Å"wrong†.... He became confident and started talking. Even though he still made mistakes he started trying and this was the most important. In his essay Sedaris provides a valuable tip for those who are only try to overcome their speech difficulties: talk, make mistakes, but talk, if you have something to say. Admittedly, as for speech difficulties concerning foreign languages it is possible to state that they are quite easy to deal with. One only has to work hard and master the necessary language. It is much more difficult to overcome such speech difficulties as stuttering. In many cases stutterers are being laughed at, misunderstood and even ignored. Some people do not have patience to wait until a stutterer complete his/her sentence. Edward Hoagland depicts some of unpleasant moments which stutterers often have to live through. For instance, Hoagland claims that he was often embarrassed to talk because of his stuttering. He used to get nervous and in those cases he stuttered even harder. The w riter defines stuttering as something similar to â€Å"trying to run with loops of rope around your feet† (Hoagland 158). It is quite difficult, but still possible. Thus, Hoagland states that it is possible to take control of oneself and refine one’s thoughts and words. In fact, stutterers can have a kind of advantage over other people since they learn to control what they say â€Å"measuring the importance of anything† they â€Å"have to say† (Hoagland 158). Hoagland continues: â€Å"You can stutter till your tongue bleeds and your chest is sore from heaving, but so what, if you haven’t any thing to say that’s worth the humiliation† (160). The writer claims that stutterers should not be embarrassed, instead they

Writing about Setting Essay Example | Topics and Well Written Essays - 1000 words

Writing about Setting - Essay Example Still, the notion of peace hits the mind of human living in the 21st century because of violent mindsets, mental maps and schemata. The peace can only be attained with the assistance of peaceful mindset and the peaceful mindset can be translated practically in the virtues of patience and attainment of knowledge (Bradbury, Mars is Heaven).. The writer created all of the characters including Captain Black and his fellow crewmen so that he can create an image of peace to satisfy his own personal and private need to taste the notion and the concept of peace and tranquility. The writer seeks refuge in literary world because the real one is messed up. The story convey nothing less and nothing more than the conceiver’s urge to have peace in this world and he took support of Mars to communicate, design and develop a peaceful human culture. The story always leads back to the writer and I believe that conceiver of this one is a pained, enlightened and disturbed human on the basic and fundamental level. The story evolves and thrives on the surprise level of Captain and his crew that they had experienced when visiting the Mars (Bradbury, Mars is Heaven).. They perceived the planet as barren and a ball of dust. But, to their surprise, what they found was full of life. The life on Mars was enjoyable, enviable and felt like a dream. The next generation of humanity did not expect the presence of such a peaceful and quiet place after studying the history of their ancestral national, racial and regional conflicts that triggered horrific wars (Bradbury, Mars is Heaven).. The Captain felt agony and distastefulness because of the unnerving situation. But, his archeologist thought for a moment and the moment’s thought was sufficient to know what is going on. The archeologist theorized that few of the humans hated war and therefore, they left the Earth so that they find peace and patience in the

Whys is the issue of accounting for leases problematic and would a Dissertation

Whys is the issue of accounting for leases problematic and would a move to principle based accounting standard improve the situation - Dissertation Example L. 2005). Leases are very common in the economic turnover of enterprises, organizations and individuals. Leases are found in the activity of virtually every entity and individual entrepreneurs. The lease gives up and taken it all: property and land, vehicles and equipment, and even entire businesses. On the one hand, in the absence of sufficient resources for the purchase of labour organizations take them out. This will save considerable money by directing them into circulation, if the leased property is no longer needed, simply to terminate the contract of lease. On the other hand, the landlord is not used in the production of the property is not idle, not transferred to the conservation and rent, resulting in additional income. Such a situation is beneficial to both sides of the transaction. Study of economic relations that arise in various forms of lease, and based on this improvement in the organization of accounting are becoming especially important. When lease accounting as on International and international standards for financial services companies have many questions. Is it classified? Who should reflect the assets on its balance sheet - the proprietor or the tenets? How to distribute income and expenses between reporting periods? In this paper, we consider the differences in approaches to solving these problems, which offer IFRS and RAS. (Nagy, A. L. 2005). Often, organizations and businesses renting property from private individuals and, in most cases, these individuals are employees of the organization. Consider the accounting treatment of costs for renting the property at the following example. Assume that the company rented from an employee... At the conclusion of the lease of a vehicle, the employee passes his own vehicle of his project to a temporary hold on a chargeable basis and he does not use it during the lease term. The company has the right to assume the management of the leased vehicle as the owner, which is the lesser or any other person having the necessary qualifications. Lease agreement is compensated, and the company must pay the tenant rent the cost, size and terms of payment, which is determined by the contract. Enterprise The firm must be legally independent in relation to his (her) to the owner. Current accounts of the owner and the firm are separate, and the responsibilities for the obligations of each other do not intersect. We recognized this principle, but not emphasized. In practice, administrators often confuse his and other people. Accounting system effects Effect of IFRS on the accounting systems of the developed capitalist countries is less significant. This is mainly due to the fact that in most industrialized countries have developed their own well-established principles and traditions of accounting, which satisfy the specific requirements of the national market models. (Nagy, A. L. 2005). For example, in Western Europe and Japan, the main financial flows and investment of the economy are made through banking institutions, and not through the stock exchanges. Therefore, a priority, both legislative and proper accounting regulation is to protect the interests of creditors, rather than meet the information needs of shareholders.

Social Unrest in the Bahamas Essay Example for Free

Social Unrest in the Bahamas Essay The principal causes of working class unrest and increasing dissatisfaction were the same throughout the British Caribbean Region colonies: low wages; high unemployment and under-employment; arrogant racist attitudes of the colonial administrators and employers in their relations with black labourers; lack of adequate and proper, in most cases, any representation; and no established structure for the resolution of industrial disputes by collective bargaining. Furthermore the unfairness shown towards black labourers would later result too many complaints and little or no positive response. Black labourers continued to seek some kind of equality due to the fact that most of their work at the same performance level as those who were white. ? Political Struggles: The Bahamas, like many other countries that are apart of the Commonwealth, had representative assemblies based on the bicameral system of the mother country. Each colony had a governor who represented the monarch, an appointed upper house, and an elected lower house. The electoral franchise, however, was extremely restricted, being vested in a few wealthy male property holders. Colonial acquisition and administration were not neatly and easily accomplished. The Burma Road riot, however, was more than an isolated act of venting. Although a powerful symbol of black agency that has been referenced again and again in the political struggles of Bahamian blacks, the riot was more than a symbol. The riot also kindled the development of a pro-black consciousness in the country, a necessary precursor to black rule and independence. The majority black population in the Bahamas could literally dismantle the edifices of minority white rule, if sufficiently provoked. The fissure that was created in 1942 would widen over the next few decades and within a quarter of a century it became a gapping hole that the majority black Progressive Liberal Party (PLP) walked through to victory. ? ? High unemployment and under-employment: By the early nineteenth century, blacks constituted at least 80 percent of the population in the Bahamas. Majority falling in the unemployment or the under-employment category. Around this time whites were considered more qualified leaving most blacks with little work options. For example, middle class blacks had a better chance to receive a well paying job than any equally qualified ‘grass root’ Bahamians. ? Racism: Even after emancipation, Caribbean societies inherited a rigid racial stratification that was reinforced by the unequal distribution of wealth and power. The three-tier race structure, which existed well into the 1940s and in some societies beyond, upheld the belief of European racial superiority, although most West Indians are of African descent. Racial discrimination was prevalent throughout the Bahamas in the 1930s and the 1940s. Black Bahamians were treated as subhuman in this country. It appears as if the suffering of the black masses, which were mostly living in abject poverty. For example, in the general strike in 1958, white taxi drivers were granted license to transport tourist from the newly opened airport located on Windsor Field. This started began the ‘Quiet Revolution’ which was gave the Progressive Liberal Party (PLP) a chance bring the issues of the nation in the presence of the House of Assembly. Low Wages: Black labourers were reluctant to work but were mostly given low wages. Blacks were paid less than white labourers which began uproar in most cases. The government was forced to impose martial law (where the police are given extra powers to arrest) and establish curfew fearing that the black labourers would take out their frustration on local whites. In relation to racism, foreign workers were paid 8 shillings per day versus shillings for local workers (Burma Road riot). Although many have suffered discrimination in many ways, this seems to be the most effective and injustice of them all. Bahamians were willing to work but they were unwilling to remain submissive to the white government or merchant class order. This was because of the difference of wages between black Bahamians and the merchant class order. The white government tried to negotiate the improvement of the wages, however, the Bahamians still suffered from the discrimination. Things such as owning a property was difficult because they never met the outstanding payment due to low wages. Foreign workers were paid more than black locals; overlooking the fact that the some black locals work harder to be paid that the small amount of money. In conclusion, during the nineteenth century, common causes of working class unrest were extremely obvious because of the many riots and the constant discrimination against blacks and whites. The inequality of each factor represented how Bahamians suffered to find a job that would offer them a respectable a wage and to muster their strength to create a political party that can proudly present the frustrations of the black Bahamians in the House of Assembly. Black Bahamians wanted to elevate black people to a position of racial equality and to promote democratic values for all Bahamians. Successfully the Bahamas looked forward to an outstanding future. The black majority party (PLP) won the government making Lynden Pindling the first black Premier of the Bahamas. Sir Milo Butler became the first Governor General of the Bahamas. The Bahamas has greatly improved since the 1930s and the 1940s. The country didn’t face anymore labor discrimination and most importantly racial tension. The Bahamas grew even more and hadn’t faced any more struggles and strife. The 1930s and the 1940s were forever engraved in the Bahamian history because it was a time that the Bahamas had to fight for what was theirs in pride and strength. 1. You are a member of the Taxi Cab Union during the General Strike of 1958. Give an account of your experience. In November 1957 the government had once again betrayed us by granted license to white taxi drivers to transport tourists from the newly opened airport at Windsor Field. As a black Taxi cab driver and a member of the Taxi Cab Union, it wasn’t an unfamiliar feeling to be discriminated public ally by the government. We were not going to tolerate this injustice act us Taxi Cab drivers. So we all came together and planned to use our Taxi cabs as blockade across the road leading to the airport. It seemed risky but it was worth it. The question â€Å"What was I thinking? † lingered in my mind for a couple of days but I had to do it for the sake of my family, my colleagues, my job, and my country. The strike officially began in January of 1958. We formed a blockade with our vehicles across the road lading to the airport exactly like we had planned. Many other workers came outside to support us as well. The leader of the Bahamas Federation of Labor and a known heroic figure, Randol Fawkes, called for all hotel workers, sanitation workers, government workers, teachers and public servants to strike, in order to force the government to address the labor issues of the country. The General Strike was to last sixteen (16) days. Bay Street owned tour companies were given the exclusive right to transport tourists to and from the hotels. Obviously, this move, if allowed to go unchallenged, would have destroyed the livelihoods of hundreds of black Bahamian independent taxi drivers. The General strike was a peaceful, non-violent revolution of the labor laws of this country. The strike had its intended outcome. New labor laws including the Trade Union and Industrial Conciliation Act were passed. A labor department was set up giving ordinary workers more rights. Discriminatory labor practices were also banned. The black majority got a right to vote. In 1959 all Bahamian men over were allowed to vote. In 1961 legislation was passed that allowed women over 21 to vote. As Bahamians we struggle to get what we want but it was a strong fight to what we deserved. Life had changed ever since then all because we didn’t tolerate the racial attitudes and unfairness of the white government.

The Method Of Ibs And Conventional System Construction Essay

The Method Of Ibs And Conventional System Construction Essay Labour productivity comparison between structural building systems showing that the number of trades for each building system was highly labour intensive because it consisted of four major operations, namely the erection of scaffolding and formwork, installation of reverse, casting of concrete and dismantling of scaffolding and formwork. On the other hand, the IBS required fewer construction operations. For instance, the cast in-situ tunnel form system did not require scaffolding to support the slab while the precast concrete system was pre-assembly in the factory, hence reducing on site labour input. crew size comparison between structural building system; Crew size comparison between structural building systems showing that the conventional building system was significantly different from the IBS. However, no significant difference was found between building systems in IBS. Hence, they were grouped into homogeneous subset . on average, IBS required a crew size of 22 people while the conventional building system required a crew size of 14 people. These crew sizes were further broken down into carpenter, precast panel erector, steel form erector, bartender, concrete and crane operator. In term of percentage, the conventional building system require d 7% more than size of the IBS. this was because the conventional building system required more construction trades than the IBS. cycle time comparison between structural building system; Cycle time comparison between structural building system show that the mean cycle time for completion of structural element of one house, the total construction duration for a project can be predetermined. This can be to evaluate the project extension of time submitted by the contractor. In terms of percentage, the conventional building system required 26%more than cast in-situ table form system, 41% of cast in-situ half tunnel form system 53% of precast concrete 2.4 Factor of choosing method of IBS and conventional system According to the Warszawski (1999),that is the factor of comparison between IBS and conventional system: factor IBS Conventional system Quality Quality-controlled and high aesrhetic and products through the process of controlled pre-fabrication and simplified installation. Factory production of fabricated components minimizes errors and imperfections, resulting in better quality products, better workmanship and superior finishes. An IBS components produces higher quality of components attainable through careful selection of materials, use of advantages technology and strict quality assurance control. The initial capital investment for setting up a permanent factor is relatively experience. Plant, equipment, skilled worker, management resources need to be acquired before production can be commenced. Less (cannot change the design flexibility as components ordered was fixed in sizes) Materials may manage by semi-skill people. Uncertain weather can result in less-than expected construction. More (design can change flexibility, or can cast in-situ) Speed of construction time Faster completion of construction projects due to the usage of standardized prefabricated components and simplified installation processes. An industrialized building system allow for faster construction time because casting of precast element at factory and foundation work at the site can occur simultaneously. This provides earlier occupation of the building, thus reducing interest payment or capital outlays. Generally, all building system requires lesser time to fabricated the building components, which may include time taken to fabricated, erect and dismantle formwork and to cure the concrete. Speed of construction is according to labour productivity and materials delivery to construction site. Time consuming where the process can be delay by weather or scheduling conflict. Construction of in-situ work requires the fixing and casting time, thus it is slow. Cost of construction The initial cost of constructing the factory, casting beds and support machinery is usually expensive and can only be removed when undertaking large project. The repetitive use of the formwork made up steel, aluminium, etc and scaffolding provides considerable cost savings. For large project, the initials capital investment in the building system can be amortized to a large extent, especially when the cost is given a wider spread. Prefabricattion capitalizes on a faster turnover, giving savings on overheads and other operational costs. Greater control over manufacturing results dramatically reduces the chance of cost overruns. Need to employ professional person to in charge. Construction cost increase due to uncontrollable variables such as weather and scheduling conflict. If suitable materials are choosing, cost of construction will decrease. Storage and equipment space For the purpose of erecting and assembling precast panels into their position, heavy crane is required especially for multi-storey building. It is therefore important to incorporate this additional cost when adopting a prefabrication system. The prefabrication system relies heavily on sophisticated plants, which have to be well coordinated and maintained by skilled operators. Breakdown in any section would hold-up the entire production line. A large work area for the factory, tower cranes, trailers and storage space for the precast components are normally required. Most construction sites are congested are quite often unable to provide the large are required. Need to provide a storage for machinery. Bigger space is needed materials storage Lesser large equipment at site like tower crane, mobile crane and etc. Safety and cleaner Construction is not affected by adverse weather condition because prefabricated component is done in a factory controlled environment. Safer construction site due to reduction of site workers, materials and construction wastage. Construction operation is safer without large equipment like tower crane and etc. transportation It is found that casting of large-panel system can reduce labour cost up to 30 percent. However, these cost savings are partially offset by the transportation costs. The transportation of large panels is also subject to the must taken into consideration when adopting a prefabrication system. All materials are deliver under small sizes and package form, thus all materials are easily transport to construction site. Labour Low site worker required due to simplified construction methods. Prefabrication takes place at a centralized factory, thus reducing labour requirement at site. This is true especially when high degree of mechanization involved. Due to the higher degree of mechanization, professional person is needed. Skilled workers are replaced by plant machinery, tower crane and mobile loaders. Using more of the workers is semi-skilled and skilled worker. High site workers required due to traditional construction methods. Using more of the workers is semi-skilled and skilled worker. (source: Peng, 1986; Abdullah, 2003; Warszawski, 1999; Zaini, 2000; CIDB, 2003, 2005; Ingemar Lofgren Kent Gylltoft, 1996; Raymond, 2002)