IFRS 15 Revenue from contracts with Customers Essay

IFRS 15 Revenue from contracts with Customers - Essay Example In addition, discussion of the key elements of the IFRS 15 and challenges facing entities will be undertaken. In conclusion, potential improvement in global performance reporting as a result of implementing the IFRS 15 will be identified. According to Wagenhofer (2013), effective and comprehensive revenue recognition framework plays a pertinent role in the provision of financial information to capital markets and facilitation of performance evaluation. Wagenhofer (2013) therefore noted that the information of revenue was important for the following purposes; informing capital providers, facilitation of performance evaluation and in the management of earnings. Revenue information underpins the effectiveness of the decision-making framework of capital providers (Holt 2013b). Information on revenue provides the basis of performance measurement by major companies thereby serving as the fundamental indicator of the financial status of the company. McConnell (2014) noted that the reporting on revenue provides the company’s financial information that includes gross income, gross profit and net income. Vis a vis, revenue provides capital marketers with vital valuation information within a given period. Assessment of t he revenue by financial analysts provides information on the size of the company and the trajectory of the growth pattern of the company. Additionally, revenue enables financial analysts to project future performance and growth of the company based on financial records such as market demand for the goods and services of the company. Therefore, comprehensive revenue information adequately advices investors and financial analyst on the current status of the company. Revenue information is further crucial in the management of the operations of a company. Revenue serves as a key tool in the evaluation of the performance of a company. According to Holt (2013c), most companies are guided by the statistics of their revenue in setting performance

Project Research Paper Example | Topics and Well Written Essays - 500 words - 1

Project - Research Paper Example However, there are considerations that have to be made when deciding on what kind of computer systems to use within the office environment. This is because there are very many computer systems vendors in the market currently. These vendors often produce products that differ in quality and structure but only similar in functionality. It is therefore important get expertise advice on what is should be the most appropriate hardware specifications to for in a product that is to be used in the company for various office purposes. In the newspaper company, the following computer systems specifications are the most appropriate for the office computer systems. CPU- this is the central processing unit of a computer. CPUs are made of processors which vary in their effectiveness in terms of processing speed and hardware or motherboard compatibility. The recommended CPU for the office is Intel Processor. Intel processors have undue advantages over the AMD processors. This is because Intel processors enjoy some a better CPU gaming performance than the AMD processors. Intel CPUs enjoy a stronger and good single-core performance which is always above other processors (Nyakoi, 21). The performance of a processor is actual the sole driving factor that should lure one into choosing certain CPUs over others. Intel CPUs enjoy good performance that makes them more appropriate for the office services. The Intel cores have a much better performance generally which gives them an edge over the other products especially the Intel Core i5-3570k. This core can process several frames per second, about 103, which is a much better performance. Video Card- there are mainly two types of video cards that can be used in the business environment. These are desktop card and workshop card. The main functional difference between the two is precision and speed. The environment dictates the preference. In the newspaper company, workstation

The New Jim Crow Essay Example for Free

The New Jim Crow Essay In the book â€Å"The New Jim Crow† author Michelle Alexander talks about numerous issues of racial inequality in our criminal justice system. Alexander’s book is something every person who even has an interest in the criminal justice field should read, as it really looks beyond the color of a person’s skin. Alexander points out the vast majority of the problems our criminal justice system faces in racial inequality and discrimination. These problems have really formed our country to what it is to this day. Most people feel that society as a whole is past discrimination and that it is no longer a problem anymore. In reality, it is still a major problem in many aspects of our criminal justice system as well as the everyday lives of Americans. In all honesty I was one of them, but â€Å"The New Jim Crow† really opened my eyes on the discrimination that occurs within minorities in the United States. Reflecting back on this issue I had realized that I have witnessed this first hand with one of my close friends who is an African American male. I will get into more detail about this later on in my paper, but for now I am going to address some of the issues of racial inequality in the criminal justice system that Alexander mentioned. First of all going back to the late 1800’s with slavery in the United States. This time period really set the tone for discrimination in the future of our country. At this point in time African American’s were much like Peasants back in pre-colonial times. This led to slaves literally walking off their plantations and causing chaos among plantation owners. This not only caused problems for plantation owners, but it also caused problems for the economy in the United States. After this was done black codes were created due to the African Americans unwillingness to work. Ultimately these codes were reversed due to several pieces of civil rights legislation that started the Reconstruction Era. During this era African Americans who were former slaves were allowed their first opportunity to learn how to read and write. Another form of racial inequality was during the Reconstruction Era. There were more laws set in place that were mainly enforced against African Americans. These laws were set in place to protect against things such as mischief and insulting gestures. This was possible in my opinion due to the federal government not aking an effort at the time to enforce civil rights legislation. Along with this death rates were extremely high due to private contractors did not care about the well being of the slaves. Like I said previously all these things set the tone for the future of our country. Looking forward to the 1950’s to the 1960’s crime rates were dramatically rising with many people believing that the Civil Rights Movement was the main cause of the raise in crime. Another reason that Alexander stated cause this boost in crime was the â€Å"baby boom† generation entering their early twenties. With the rise of the young men it created the rise in crime. With that being said many people felt that the Civil Rights Movement was the main cause of this sudden outbreak in crime. Another event that did not help the cause of African Americans in the 1960’s was the assassination of Dr. Martin Luther King Junior. This led to an outrage in the African American Community in which it gave white Americans more reason’s to think that African Americans were harmful to society. One issue of racial inequality that Alexander mentioned was how the courts place higher standards on African Americans than they do on white Americans. Along with that Alexander Talked about how white Americans are still more likely to do drugs than African Americans are. Even in â€Å"ghetto† neighborhoods African Americans are less like to sell and use drugs than white Americans are. Along with that though, African Americans are sent to prison on drug charges at a rate of twenty to almost sixty times greater than a white. Alexander also talked about a survey in the 1980’s that found out that ninety percent of white believed that black and whit children should attend the same schools, and that seventy-one percent disagreed that whites have a right to keep blacks out of white neighborhoods. Also eighty percent of the people that took the survey said that they would support an African American candidate for president, and sixty-six percent said that they opposed laws prohibiting intermarriage. After reading this it really kind of troubled me because I feel that segregation was still a little bit of a problem in the early 1980’s. In my opinion the problem with surveys are that a lot of the time people do not tell the truth and I feel like that is the case in this survey. I feel that those numbers would probably be around the same if not a little better today than it was back then. One reason I feel this way is partially to how my grandparents act towards African Americans. My grandpa who was born in Eastern Tennessee has never really been a big supporter of African Americans due to how he was raised by his dad who was actually a preacher. Also I feel that the results that the survey got would depend on what kind of area the survey was taken in. In a town like the one that I grew up in I feel that the results would definitely be lower especially since it is not a very diverse town. Now back to the story where I had witnessed discrimination in the criminal justice system. When I was in high school me and some friends one of which was a African American male was driving home from the bowling alley at around Eleven ‘O Clock in the evening got pulled over on our way back to my house. When the officer came up to the car he asked me for my driver’s license like you would expect the officer to do. The officer caught my friends and I off guard when he asked my African American friend for his license, but not anyone else in the car. Until I read Alexander’s book I never really thought about the situation since I was so young, but now I understand the magnitude of it all and how ridiculous it is that something like that happened and me not even realize it. Also I have been pulled over seven times by the police and this incident is the only time an officer has asked to see any identification of any of the passengers that I had with me. The next thing that I will talk about is how racism in criminal justice grew out of earlier historical periods. Earlier I mention how in the 1800’s there was a Reconstruction Era. The first Reconstruction Era was brief According to Alexander it stretched from 1863to when the Northern states freed the slaves in 1877. With this reconstruction it gave African Americans their first opportunity to read and write, but it also forced the government to help support the African Americans by providing things like food, clothing, and fuel. This period also gave the African Americans their first opportunity to vote although they had to be protected by federal troops from organizations like the Ku Klux Klan. At the end of the first Reconstruction Era the Civil Rights Movement that is also known as the Second Reconstruction started. During the Civil Rights Movement African Americans played a bigger part in the United States government due to African Americans gaining political power as well as the growing population of the NAACP. With the rise of the NAACP the Ku Klux Klan also grew as a terrorists program killing many officers of the NAACP. Along with Dr. Martin Luther King Junior who had probably the biggest impact on the Civil Rights Movement, President Kennedy presented a strong civil rights bill to the United States Congress. Although he was not able to see this through due to his assassination, his successor President Johnson made sure that this bill went through. This gave most African Americans a chance to go to schools with white students as well as giving them a chance to drinking from water fountains that they were banned from drinking out of before this bill. Recently I watched an ESPN 30 for 30 film about the University of Mississippi otherwise known â€Å"Ole Miss†. A young African American, by the name of James Meredith, attending the university outraged the state of Mississippi. President Kennedy sent troops down to Oxford, Mississippi on the campus of Ole Miss to help protect Meredith and other students from being injured due to riots. Even with the troops, the riots were too much to handle which ultimately led to several students getting killed and many others injured. Before this film I had never heard of the tragedy that occurred within the university. Perhaps this twisted event was swept beneath the rug as if it never even occurred. Maybe it’s the fact that society is too embarrassed to own up to the sickening deeds done onto our own kind? Now how does our criminal justice system, which is based on equality for all develop such discriminatory practices? It is not necessarily the system as a whole, but the actions of so many individuals who believe that discrimination is perfectly acceptable. Some regions of our beautiful country continue to believe that live a discriminating lifestyle and pass these beliefs onto their children. Mississippi is a prime example of location still considered to be very discriminatory. The university itself proudly flies the rebel flag to the tune of â€Å"Dixie† unaware of the pain and suffering associated to both. What is a caste? A caste is a way of diving a society into classes based on race, wealth, religion, and social status. With the most common example of caste is race and wealth. With that be said though Whit Americans are not the only one’s who can discriminate. African Americans or really anyone can discriminate against anyone person, race or social status. The criminal justice system is a caste system, because those at the bottom of the system can commit the same crime as a wealthy citizen and have more of a punishment than someone who can afford better lawyers and are well known. Also the discrimination between whites and minorities is probably the main reason why the criminal justice system is a caste system. Alexander talks a lot about this in chapter three of â€Å"The New Jim Crow†. Alexander talked about how long it could take public defenders to get to a case due to the overload of cases that he or she would be assigned to. One example of this is the O. J. Simpson murder case. There was so much evidence and motive for O. J. to commit the crime yet he was still found not guilty of the murder. Does discrimination end when people are released from prison? Absolutely not! After being released from prison, convicts will face more discrimination than before they were ever charged with whatever crime they have committed. The people who are released from prison will always have to face the fact that they will have the label of being convicted felon for the rest of their lives. After being convicted they typically do not have the same job opportunities as someone that has never been convicted, as well as not ever being allowed to get food stamps of public housing if they needed it. Basically, convicted felons might as well have a stamp on their forehead saying, â€Å"I am a convicted felon†. In conclusion, I feel that Alexander raises many good points on discrimination and racial inequality. Anyone entering the criminal justice field really needs to read this book and reflect on what needs to change to make our system an equality based system like it is supposed to be. I know it has me thinking about what needs to be done. I feel that is the only way we can make our criminal justice system a well-rounded system.

Nature And Scope Of Reverse Logistic Information Technology Essay

Nature And Scope Of Reverse Logistic Information Technology Essay This paper explains what reverse logistics is. It looks at different viewpoints of reverse logistics. The paper starts off with a brief background of logistics describing how and when this term came about. Logistics has been a part of the society since the Greeks and the Romans. It was in the Second World War that logistics developed greatly. Logistics has come to be a kind of relief for many organizations that formerly looked upon it as a burden. Companies nowadays are hiring people with the requisite knowledge to deliver sustainable enhancements in the field of supply chain management. Reverse logistics includes processing returned merchandise due to damage, seasonal inventory, restock, salvage, recalls, and excess inventory. Reverse Logistics offers several advantages to the company in terms of both tangible and intangible benefits. In the first instance, companies are able to retrieve defective equipments and parts which are either salvaged or refurbished and thus reclaims value out of the defective parts. Secondly, the packaging and defective materials are collected and recycled thereby generating scrap value back for the company. Thirdly unsold and obsolete equipments are collected back from point of sale which encourages the distributors and stockiest to confidently buy stocks from the company knowing that he can always return unused inventory and not stand to lose in the bargain. All items must be identified, assigned to a customer or account, assigned a disposition and then physically sorted for processing. Finally, credits are generally issued at a later ti me and often for only some part of a return, including discarded or un-saleable goods. This process is difficult to automate with a generic ERP package and very challenging with a simple paper process. Specialized returns systems, whether part of a Warehouse Management System (WMS) or stand-alone, can support effective automation with appropriate setup. As reverse logistics evolves within your company, you will want to start developing or improving the Key Performance Indicators (KPIs) used to measure and monitor the performance of your Returns Management and Reverse Logistics. We obtain a number of managerial guidelines for using marketing and operational strategy variables to influence the reaction parameters so as to obtain the maximum benefit from the market for each problem. We here also disprove that return policy is all about cost. We found that return policy is a powerful tool to increase firms profit. By capturing the reasons for returns, you can better monitor quality and vendor performance, and learn more about your customers purchase and return behavior. In addition, by returning goods to your supply chain quickly, you can minimize the cost of obsolete goods, and meet customer demand elsewhere. Table of Contents Background: The birth of Logistics can be traced back to ancient war times of Greek and Roman empires when military officers titled as Logistikas were assigned the duties of providing services related to supply and distribution of resources. This was done to enable the soldiers to move from their base position to a new forward position efficiently, which could be a crucial factor in determining the outcome of wars. This also involved inflicting damage to the supply locations of the enemy and safeguarding ones own supply locations. Thus, this lead to the development of a system which can be related to the current day system of logistics management. During the Second World War (1939-1945), logistics evolved greatly. The army logistics of United States and counterparts proved to be more than the German army could handle. The supply locations of German armed forces were inflicted with serious damages and Germany was not able to wreak the same havoc on its enemy. The United States military ensured that the services and supplies were provided at the right time and at the right place. It also tried to provide these services when and wherever required, in the most optimal and economical manner. The best available options to do the task were developed. This also gave birth to several military logistics techniques which are still in use, albeit in a more advanced form. Logistics has now evolved itself as an art and science. However, it cannot be termed as an exact science. Logistics does not follow a defined set of tables nor is it based on skills inherited from birth. A logistics manager performs his duties and responsibilities based on his educational experiences, skills, past experiences and intuition. These skills are nourished by a constant application of the same by him for the betterment of his organization. The logistics manager ensures that the company is benefited by an effective and efficient system of logistical management. He also needs to ensure that the right kind of products and services are provided at the right time and for a right price, whether inside the organizations premises or delivery of shipments outside the premises of the organization. Logistics has come to be a kind of relief for many organizations that formerly looked upon it as a burden. Companies nowadays are hiring people with the requisite knowledge to deliver sustainable enhancements in the field of supply chain management. As has been the case throughout most of logistics history, the task of a logistics manager involves a clear vision and a drive within to deliver results under strict deadlines in addition to his usual responsibilities. Reverse logistics stands for all operations related to the reuse of products and materials. It is the process of planning, implementing, and controlling the efficient, cost effective flow of raw materials, in-process inventory, finished goods and related information from the point of consumption to the point of origin for the purpose of recapturing value or proper disposal. More precisely, reverse logistics is the process of moving goods from their typical final destination for the purpose of capturing value, or proper disposal. Remanufacturing and refurbishing activities also may be included in the definition of reverse logistics.[1] The reverse logistics process includes the management and the sale of surplus as well as returned equipment and machines from the hardware leasing business. Normally, logistics deal with events that bring the product towards the customer. In the case of reverse, the resource goes at least one step back in the supply chain. For instance, goods move from the customer to the distributor or to the manufacturer. Introduction: As we all know that Logistics is part of supply chain management process.   Whereas the Logistics deals with forward movement of goods within any supply chain, reverse logistics manages the reverse movement of goods, in other words returns management within supply chain function.   Ã‚  Reverse flow is as important as forward movement in any supply chain.   By examining a consumer supply chain process flows, one can conclude that reverse flows are  very critical and important function within supply chain to recover the product cost comprehensively and at the same time helps in safe disposal of waste. Purpose and aims of reverse logistic Reverse logistics includes processing returned merchandise due to damage, seasonal inventory, restock, salvage, recalls, and excess inventory.   It also includes recycling programs, hazardous material programs, obsolete equipment disposition, and asset recovery. For a practitioner, the disposition choice is determined by the most profitable alternative: Reconditioning when a product is cleaned and repaired to return it to a like new state; Refurbishing similar to reconditioning, except with perhaps more work involved in repairing the product; Remanufacturing similar to refurbishing, but requiring more extensive work; often requires completely disassembling the product; Resell when a returned product may be sold again as new; Recycle when a product is reduced to its basic elements, which are reused also referred to as asset recovery. Nature and Scope of reverse logistic Reverse logistics has been adapted in a big way by automotive aftermarket spare parts field as well as electronics and computer hardware markets. Retail and book publishing too have implemented reverse logistics schemes but the volumes that are returned are relatively lesser than the other fields. Reverse Logistics offers several advantages to the company in terms of both tangible and intangible benefits. In the first instance, companies are able to retrieve defective equipments and parts which are either salvaged or refurbished and thus reclaims value out of the defective parts. Secondly, the packaging and defective materials are collected and recycled thereby generating scrap value back for the company. Thirdly unsold and obsolete equipments are collected back from point of sale which encourages the distributors and stockiest to confidently buy stocks from the company knowing that he can always return unused inventory and not stand to lose in the bargain. Distributors are more likely to be open to stocking all fast moving as well as slow moving stocks. In the eyes of the customer and society, the organization stands to gain a good standing and reputation of being a responsible company which takes care of the e waste and hazardous waste generated and thus stands out for its corporate governance policies. Reverse logistics has been successfully adapted as marketing strategy. Refurbished computers are sold at cheaper prices by all leading brands and the demand for such laptops seems to be growing. The spare parts used by the computer manufacturers to service the laptops and computers on warranty or on sale, include refurbished parts. Many electronic and consumer durable manufacturing companies offer buy back or exchange offer for the old equipments in lieu of the customer purchasing a brand new product. In consumer electronics and white goods, the exchange offers are a big hit during discount sale seasons. Principles of reverse logistic administration and practice Returns are fundamentally complex because of how they impact physical inventory, electronic inventory and accounting systems.   All items must be identified, assigned to a customer or account, assigned a disposition and then physically sorted for processing.   Since some of the product might be discarded or kept back for vendor chargebacks, not all merchandise enters electronic inventory; some merchandise must be repacked and accounted for manually versus electronically.   Finally, credits are generally issued at a later time and often for only some part of a return, including discarded or un-saleable goods.   This process is difficult to automate with a generic ERP package and very challenging with a simple paper process. Specialized returns systems, whether part of a Warehouse Management System (WMS) or stand-alone, can support effective automation with appropriate setup. The software must: Separate the physical process from the accounting process and allow for gaps between physical and accounting realities. For example, out of a returned pallet only part of the pallet may be added to inventory and a different part of it may be credited to the customer.   Separate responsibility over physical inventory from responsibility over customer credits. A warehouse employee should not be concerned with how and when a customer will receive credit. Credit processors use an electronic transaction log of returns dock activity to release customer credits. Distinguish between return reasons and physical disposition. The former describes why customer returned it.   The latter describes physical state of the merchandise. Credit clerks must understand return reasons. Warehouseman must understand the dispositions. Try to control the returns process through Returns Authorizations.   With Return Authorizations, the pre-approved returns can be received quickly thereby simplifying the returns identification and speeding overall processing.   To enable radio frequency (RF) equipment automation and verification, these expected returns should be entered into the system prior to arrival. Stage saleable merchandise by a put away zone. Most of the returned merchandise is generally in saleable condition and will be returned to the storage area. To streamline the subsequent put away process, saleable products should be staged on pallets by destination zone. Track un-saleable merchandise with a bar-coded label. Any merchandise that is not saleable and cannot be discarded is usually stored according to vendor guidelines. While some vendors simply require an inventory report to issue credits, others will send a sales representative to inspect the goods or to ship to the vendor. A complete audit trail consisting of return reason, date of initial shipment, date of return, customer name, etc. will assure legitimacy of the claim and improve supplier relationships Key elements of the reverse logistics process As reverse logistics evolves within your company, you will want to start developing or improving the Key Performance Indicators (KPIs) used to measure and monitor the performance of your Returns Management and Reverse Logistics. To help develop KPIs, Tony Sciarrotta shared some of his insights and important KPIs he uses as the Director of Returns Management at Philips Consumer Electronics, North America. Tony brings a great deal of experience and industry expertise to the Reverse Logistics requirements for Philips, its supply chain partners and its returns processing partners. Gate keeping, Product Data and Asset Recovery are three of the key areas I monitor closely, says Sciarrotta as he outlined some of the KPIs he uses to help manage each of these areas. Gate Keeping Philips works closely with its Retail partners to monitor and manage returns. To do this, Philips shares and reviews regular reports with the retailers to outline the data related to recent product returns. These reports help everyone work together in order to reduce returns and become critical in the arrangements that Philips negotiates with its retail partners. Philips also monitors statistics about the condition of the returning goods upon arrival. Flat Panel TVs can be very expensive if they are not handled properly in the return process. Working with Retail partners to avoid damage is of major importance. Discrepancies are also an area monitored closely to ensure that all returning units have been authorized. Recently, Philips has been experiencing very few discrepancies. Product Data Philips outsources its Reverse Logistics processing and repair. The Philips team works closely with its Reverse Logistics partners to monitor No Trouble Found, Repair with Parts, Repair without Parts and the Scrap levels. This important data is forwarded to manufacturing and to the product design groups. Consumer electronics products are becoming more and more complex. If a product is experiencing a high No Trouble Found rate, the data is sent to manufacturing to seek product or user experience improvements to reduce the return rate Asset Recovery We always try to achieve the highest asset recovery rate possible says Sciarrotta. To monitor this, Philips tracks the Asset Recovery rate. Also tracked are returned goods that are sold as is and the returned goods that are sold with a warranty. In addition, Philips tracks the performance of the refurbished products to ensure quality standards are maintained. Improve Your KPIs Gate keep to ensure only authorized returns are handled. . Obtain good product data to find out why goods are being returned. Get the highest Asset Recovery rate possible. These are the three key areas and some of the related Reverse Logistics Key Performance Indicators that Tony Sciarrotta uses at Philips to help organize, monitor and manage product returns. Use his insights to get started with improvements to your KPIs. Pros Cons of Reverse Logistic: Advantages Disadvantages Buyer is happy when he/she receives money back Buyer Authorization required Pack everything up again. Insure it wait up to 2 billing cycles for a credit. Law, Policy and reverse logistic Reverse Logistics and the management of returned or used merchandise is a growing problem among manufacturers today. In this study we will be presenting the nature and magnitude of the reverse logistics problem in the industry and a literature survey of the previous research in this area. Reverse Logistics deals with the processes associated with the reverse stream from users/owners to re-users. This paper provides content analysis of scientific literature on reverse logistics. Reverse logistic Policy and Legislation In direct sales supply chain, the customers buy direct from the manufacturer sacrificing the benefit of physical inspection of the product. This increases the likelihood that customers will have some dissatisfaction with the product and would like to return it. A clearly explained and generous return policy, then, will be welcome by the customers and therefore will enhance sales. However, this reversed flow merchandise has always been a problem for all parties in the supply chain due to the disruption in operations and headache in processing returned merchandises. We are interested to examine the roles of return policy in reverse logistics from various angles. First, we survey the existing literature on the area of reverse logistics. We offer a new literature classification that will close the researchs gap in the area. We then look into specific problems of return policy namely the relationship between price and return policy, the effect of products quality on the return policy, and the effect of uncertainty in the returned merchandise to the return policy. We obtain a number of managerial guidelines for using marketing and operational strategy variables to influence the reaction parameters so as to obtain the maximum benefit from the market for each problem. We here also disprove that return policy is all about cost. We show that return policy is a powerful tool to increase firms profit. Principles for a Functional reverse logistic system. Reverse Logistics Management automates returns across multiple channels to ensure you know whats coming back, from whom and why. The system is based on a rules engine that can automate the application of return rules. It also houses vendor return policies and automates the return-to-vendor credit process. Reverse Logistics Management can manage returns both coming and going-from the consumer and to the vendor. By capturing the reasons for returns, you can better monitor quality and vendor performance, and learn more about your customers purchase and return behavior. In addition, by returning goods to your supply chain quickly, you can minimize the cost of obsolete goods, and meet customer demand elsewhere. Reverse Logistics Management transforms the returns process by: Automating every step: Online or at returns centers, easily differentiate between tiers of customers based on their purchasing patterns. Generate authorizations based on pre-established internal or vendor rules, and apply credits quickly to keep your customers happy. Centralizing return programs: Streamline returns and staff training by running manufacturer and extended warranty programs all in one automated process. Consolidating shipments to vendors: Reduce costs and maximize credits by accurately and consistently applying return-to-vendor policies. Increasing visibility: Reduce inventory holding costs and improve net asset recovery by integrating with Warehouse Management, so products can be reshelf quickly or routed for liquidation. What happens to products returned? Most industries today have liberal returns policies that can quickly tax distribution networks when large quantities of items go through the reverse logistics process.   Often the distributing warehouse bears the brunt of these costs and efforts associated with returns. Thankfully, this area is also where a properly organized process, supported by latest hardware and software technologies, can produce a competitive advantage, attract new suppliers and control the returns process.   In this article we will review common problems that plague returns operations in the warehouse and suggest remedies drawn from best practices. Common Problems The returns area of a warehouse is commonly full of a mix of open cartons from many different SKUs that need to be identified and sorted according to disposition.   Through this sorting process, credits must also be issued and return-to-vendor tracking created.   The combination of process complexity and low priority of reverse logistics typically means little attention is given to improving the returns process. As a result, warehouse managers tend to treat it as a necessary evil.    Problems affecting returns processing in the warehouse include: The work area is too small or poorly laid out; The process is paper intensive in order to describe and track reasons for returned product; Lack of real time tracking of incoming merchandise does not permit quick put away or cross docking; Poor process integration into the warehouse does not allow returned merchandise to be immediately allocated and shipped. Orders are often shipped short, while saleable inventory is present on the returns dock; Lack of tracking and accountability for un-saleable merchandise that is used to bill back the vendor. The problems in the customer service department include: Slow, error prone data entry and credit processing based on a multitude of papers delivered from the returns dock; No link between data collection and credit processing, allowing over-credit given to the customer; It is difficult to segregate problems by customer, salesperson, truck driver or warehouseman to eliminate misconduct.

Hiroshima :: essays research papers

Hiroshima   Ã‚  Ã‚  Ã‚  Ã‚  Would you be afraid of an atomic bomb dropping on your city? In August 1945, World War II was finally dying down. The United States, including her allies, had already defeated Germany by this time and had reclaimed land that had been taken over by Hitler’s Nazi Germany. Now that the United States and her allies had defeated the Nazis all the attention was pointed towards Japan. Japan was a city that would fight to the very end, and if needed fight to the very last man. The people of Japan did not believe in surrendering to anyone. Do you think that the people of Japan were afraid of the bomb that the United States’ best physicists had created? (Claypool 1)   Ã‚  Ã‚  Ã‚  Ã‚  The people of Japan did not know the power of the atomic bomb and so they were not afraid of the United States. An hour before the United States dropped the bomb, Japan had detected the approach of some American aircraft heading towards the southern part of Japan. (The Manhattan Engineer District) The Japanese were in fear of a huge B-29 raid that could occur. At 8:00 a.m. the radar operator in Hiroshima determined that the number of planes coming was only a couple and probably not more than three. Basically, the Japanese were pretty clueless of what was coming. What was coming? There were a total of 7 B-29s flying towards the city of Hiroshima. One plane was a stand-by plane; three of them were weather planes, two of the planes carried scientific equipment and observers. The final B-29, the â€Å"Enola Gay,† carried the first atomic bomb Nelson 2 that would be dropped on Hiroshima. In less than three hours, sixty percent of Hiroshima would be erased. (Hersey 35) Hiroshima was located on a flat delta off the Ota River. The Ota River had 7 channels that divide the city into 6 islands. The city of Hiroshima was slightly above sea level and was almost entirely flat. It consisted of 26 square miles, and out of the 26, only 6 square miles were built-up. Seventy-five percent of the people had lived in the center of Hiroshima. (The Manhattan Engineer District)   Ã‚  Ã‚  Ã‚  Ã‚  There was no separation between commercial, industrial, and residential zones. The houses and industrial buildings were made of wood. Also, the outskirts of the center of the city had an area of close small wooden workshops that were scattered between the Japanese houses.

The Great Gatsby: American Dream or American Nightmare? Essay -- The G

â€Å"The loneliest moment in someone’s life is when they are watching their whole world fall apart, and all they can do is stare blankly.† ― F. Scott Fitzgerald, The Great Gatsby The American Dream, a long standing ideal embodies the hope that one can achieve financial success, political power, and everlasting love through dedication and hard work. During the Roaring 20s, people in America put up facades to mask who they truly were. In The Great Gatsby, Fitzgerald conveys that the American Dream is simply an illusion, that is idealist and unreal. In the novel, Gatsby, a wealthy socialite pursues his dream, Daisy. In the process of pursuing Daisy, Gatsby betrays his morals and destroys himself. Through the eyes of the narrator, Nick, one sees the extent of the corruption Gatsby is willing to undertake in order to achieve his dream. Although Fitzgerald applauds the American Dream he warns against the dangers of living in a world full of illusions and deceit; a trait common during the Roaring 20s. The language and plot devices Fitzgerald uses convey that lies and facades, which were common during the Guided Age, destroys one’s own character and morals. T hrough Fitzgerald use of symbolism, expectations, and relationships, he explores the American dream, and how it is an illusion that corrupts and destroys lives. Through Fitzgerald’s symbolic description of Gatsby, he explores the extent of the American Dream’s deceptive nature that slowly destroys a person and his/her morals. During the Roaring 20s it was very common for people to project illusions to mask who they truly were; to fit in, it was almost essential to have one to survive in the highly materialistic and deceitful society. Nick is introduced as the objective narrator... ...an Dream that becomes corrupted and leads to the ultimate failure and destruction of himself. Some say that Americans strive for the impossible goal of perfection; they live, die and do unimaginable deeds to achieve it, and when they do, they may call the product their own American Dream. The American Dream is substantial perfection. In reality, perfection does not exist, but illusions do. Those who live in a world of lies cause their own demise. Life is a series of unending imperfections. Living a dream of perfection is not possible, thus reducing our cherished American Dream to a simple fantasy. Works Cited Fitzgerald, F. Scott. The Great Gatsby. New York: Scribner, 2004. Print. â€Å"The Great Gatsby in the 21st Century.† CBC Books. CBC/ Radio-Canada. 22 August 2012. Web. 5 May 2015. http://www.cbc.ca/books/2012/08/the-great-gatsby-in-the-21st-century.html

Bylli All’s Five Year Career Development Plan Essay

As I am currently the president and CEO of J-R Equipment, my career is where I always thought it would be. I was chosen by my mother to head this 50 year-old family business. My sole endeavor is to have it continue for another 50 years. More specifically, over the next five years my goal and base objective will be to rebuild J-R Equipment Rental into an efficient, consistently profitable organization which many families are supported with its growth. Heinz Weihrich (2007) writes, â€Å"Career plans are built on uncertainty; the future cannot be predicted with accuracy. Consequently, contingency plans based on alternative sets of assumptions should be prepared.† My personal plan will be an ongoing proactive plan with annual reassessments periodically (Wagner, 2010). My objective is to incorporate new technology and old fashioned know how to make ours the best rental company in the area. Goals and Objectives J-R Equipment will remain in our family for generations to come with proper management and development. The initial objective in any business is to be profitable. Years ago this company was run by a much larger staff, thus giving the opportunity of time to oversee things properly. This is my personal goal. When this plan is successfully put into practice, a sense of pride and accomplishment knowing that my mother made the correct choice will be satisfaction enough. I do not foresee my compensation or benefits package changing during or after this time. The following current specific goals and objectives are vital to the plan to be a success. This list cannot consider unknown or unforeseen actions. 1. Conduct a complete job analysis on each area within the company. 2. Construct a thorough job description for each job analysis. 3. Work to organize the jobs better to be done so that employees are making good use of their talents to better serve the company’s goals. 4. Review pay scales and update if warranted, this should be done annually. 5. Review benefits package, e.g. Health Insurance, IRA, Life Insurance 6. Annually update the Employee Handbook and new hire package. 7. Streamline the rental process so that customers can shorten the time they are required to spend in the office on paperwork. 8. Educate employees who will utilize the computer system’s available tools. 9. Work to make the equipment inventory more reliable in terms of contracts and status of equipment. 10. Update processes and protocols within the company. 11. Review our service call procedures and update as needed. Job Satisfaction and Attributes There is a great deal of satisfaction in a job well-done. Knowing that my efforts are useful and usable is more than adequate to me. The typical attributes of job satisfaction is motivation and productivity. When an employee is satisfied with his or her job the employee will almost naturally be excited and motivated, thus increasing productivity. I am no exception to this rule. Compensation and Benefits Currently my compensation and benefits are as high as they can be for the company. In the near future I plan to include a key individual life insurance plan to my list of benefits. This life insurance plan would pay the company as the beneficiary to offset costs pertaining to hiring and promoting individuals in the event of my death. Most organizations have at least one employee who is fundamental to the continued success of the business. It could be the owner, manager, or someone with a high level of experience, the loss or death of that person certainly would cause an upset both productively and financially to the company. This insurance benefit could be used to pay off debt, recruit new personnel, or any other useful tool needed to grow the business. Competencies For any business today and subsequently its managers to remain competitive, certain technologies must be utilized so that employees, management, and customers can communicate and conduct business in a simple yet proficient manner. Our computer system was upgraded just last year so I would believe that this system could easily carry us through this plan with regular updates. There are add-ons to the system that could be better utilized. In addition, certain competencies are required to fulfill the position of president and CEO in an effective manner. Competence defined is a gathering of functionality, involving skills, knowledge, and personal attributes, which, combined, establish successful achievement of activity (AdomaitienÄâ€", ZubrickienÄâ€", 2010). Adomaitiene and Zubrickiene also write that competencies and job experiences become a condition of personal clarity. The following competencies are required to grow as a manager/owner and thus have the company grow as well. An effective CEO must have the ability to understand, empathize, and assist in each area or department within the company to recognize its connection to other departments. I. Every employee has a role to play in the efficient function of the company, the awareness of each person and their role is a key component in success. II. A working knowledge of the company’s front office or rental software and its capabilities are vital to daily operations. III. A working knowledge of the back office systems and their functionality will prove essential for financial recommendations. Job Experiences Fortunately, my current experience level with each department is such that I feel as though I am a step ahead already in my plan. These experiences allow me the confidence to discuss any changes that may be initiated to improve the company. Continued access to the departments and their functions will help to keep my competencies up to date. Training and Education Training and education are an indispensable part of any plan’s success. The educational background I have will be sufficient to begin this process; however the complete plan will require additional education and a personal in-depth assessment of my own personal strengths, weaknesses, and a thorough knowledge of what items will need adjustment are the first necessary step. My education with University of Phoenix and continued work experience help to complete my understanding of the business process and the functionality of this knowledge. J-R Equipment’s Role J-R Equipment’s responsibility is simply to comply with the recommendations made. The department managers will prove essential in the process. Open forms of communication are crucial to the success of our plan and subsequently our company. Regular meetings will be held to mark the successful procession of the plan. Plan Timeline Year One:1.All job analyses and descriptions are complete. 2.Begin working with other managers to formulate ideas for streamlining. 3.Set schedules for employee training on the computer system. 4.Update Employee Handbook. 5.Begin inventory analysis with equipment not available for rental. Year Two:1.Reorganize employees to better suit their skills and talents. 2.Review pay scales of all employees to make certain current state legislation is upheld. 3.Begin review of benefits packages. 4.Continue gathering ideas for streamlining. 5.Revise/implement training schedules. 6.Update Employee Handbook. 7.Continue inventory analysis with spot check inventory reconciliation. Year Three:1.Complete review of benefits packages. 2.Update Employee Handbook and new hire package. 3.Continue inventory analysis. 4.Begin to put into effect ideas for streamlining the rental process. 5.Review pay scales of all employees Year Four:1.Update/review streamlining processes. 2.Update Employee Handbook and new hire package 3.Continue ongoing inventory analysis. 4.Review pay scales Year Five:1.All processes should be completed 2.Review new processes for functionality 3.Review needs for additional training. 4.Review pay scales and benefits packages 5.Update Employee handbook. 6.Formulate a Mentoring Program Mentoring A mentoring program can be formal or informal. The informal plans offer much more than the formal plans. Informal programs are more driven simply because both parties are motivated, and the relationship would be more relaxed and without boundaries (Chao, 2009). Formal programs are certainly more rigid, more structured, and more visible. Currently there is no formatted mentoring program in place even though I was mentored without even knowing it. I do however intend to formulate a program by the end of the five year period. This is largely dependent on employee and family growth within the business. There are several candidates currently that will be given the opportunity for experiential growth to a higher level of responsibility. The program itself will need to address the ever-changing working world and its part in an individual’s life (Patton, McIlveen, 2008). Conclusion A career development plan has been difficult to prepare. My career has almost always been J-R Equipment. I have been raised here and groomed for this business and am thankful for that education. I and my siblings were raised in this business, my children were raised in this business, and now my grandchildren are being raised here. I could not be more proud or motivated for our continued success. References AdomaitienÄâ€", J., & ZubrickienÄâ€", I. (2010). Career Competences and Importance of Their Development in Planning of Career Perspective. Bridges / Tiltai, 53(4), 87-99. Chao, G. T. (2009). Formal mentoring: Lessons learned from past practice. Professional Psychology: Research And Practice, 40(3), 314-320. doi:10.1037/a0012658 Morgan, M. (2011). Building Personal Equity. Strategic Finance, 93(6), 16-61. Patton, W. (2009). Practice and Research in Career Counseling and Development— 2008. Career Development Quarterly, 58(2), 118. The Value of Key-Person Life Insurance. Retrieved from