Statistical
analysis is often used to investigate theories by different forms of data
collection in which management can determine a solution. By collecting data, researchers can use
methods of quantitative, qualitative, mixed, or action research. These methods are each different from one
another and each provide a specific purpose in the role of the
investigation. This also opens new
discoveries based on certain areas that can be improved in which researchers
are unaware of.
One example of qualitative research, is a
survey. The Institute of Medicine’s
Committee on the Future of Nursing provided data through surveying nurses in
order to support The Future of Nursing:
Leading Change, Advancing Health (2011). A part
of this study was used to determine healthcare requirements in the
workforce. In the study, 3,360
individual RN's were surveyed and this did not necessarily mean there were
3,360 jobs, rather there was 3,000 individual RN's who had one single job and
the other 360 had more than one job.
The
pro's to using a survey offers a variety of ways to conduct the study. Researchers often conduct surveys through mail,
telephone, or by interviewing, (Bluman,
2010). A con to surveying is that some volunteers
may not be completely honest, which can affect how the data is determined. To prevent this, researchers may provide
incentives to volunteers, such as cash, gift cards, or other creative means to
encourage honesty. Another con is that
mailed surveys can become a lengthy process due to the slow response time.
Observational data collection is a
form of quantitative
research in which researchers merely observe subjects in a controlled
environment and record the natural existence of each variable. One example 8,176 patients were categorized
according to the estimated giomeruiar filtration rate of 4 groups, (El-Menyar, Zubaid,
Sulaiman, Singh, Al Thani, Akbar, & Al Suwaidi). The purpose of the study was to
observe and determine the affects of Chronic Renal Insufficiency (CRI) on In-hospital
major adverse cardiac events across the Acute Coronary Syndrome (ACS) spectrum.
The
pro's to an observational data collection is due to how the data is naturally
collected by researchers either personally observing the data, video or audio recording,
or both, (Editorial Board, 2011). The con's to observational
research is can sometimes rely on live subjects who may act accordingly to how
their being watched or recorded. To
achieve the best research data, researchers may create an environment where
subjects do not know they are being studied.
References:
El-Menyar, A., Zubaid, M., Sulaiman, K., Singh, R.,
Al Thani, H., Akbar, M., and Al Suwaidi, J. (2010)
.
In-hospital Major Clinical
Outcomes in Patients With Chronic Renal Insufficiency Presenting With Acute
Coronary Syndrome: Data From a Registry of 8176 Patients.Mayo Clinic
Proceedings, 85(4), 332-340. doi:10.4065/mcp.2009.0513. From AIU Virtual
Library.
Spetz, J., &
Kovner, C. T. (2011). How
Should We Collect Data on the Nursing Workforce?. Nursing
Economic$, 29(2), 97-100. From AIU Virtual Library.
Bluman, A. (2010). Elementary Statistics: A Step by
Step Approach. (5th ed.). Upper Saddle River, NJ: Prentice
Hall
Editorial Board.
(2011). Elementary
Statistics. (1st ed.). Words of Wisdom, LLC
The food and drug industry is one of the most widely
known industries to utilize a inventory management system, specifically a fix
quantity system. A fixed quantity system
is where is where inventory is ordered on the same amount, for whenever
needed. These type os systems need
advanced amounts of technology to update and receive data on how much is need
and when it is needed. Computers and
wireless technology are usually necessary to create the basic system.
An
example company would be Anheuser-Busch. Anheuser-Busch's BudNet, is a nationwide
network that provides sales representatives and delivery drivers a detailed
report on sales, shelf space, inventory and the displays in each store, (2012). These system allows store managers to simply
input their current inventory throughout the store on a handheld device, and is
then plugged into a wireless device that uploads the data to Anheuser-Busch'
BudNet. From there, sales reports can
begin the purchasing orders, and then given the report on what needs to be
delivered to the drivers. Once the
drivers deliver the product, managers sign off on the report and are billed for
it.
As
far as other inventories, this does not affiliate with Anheuser-Busch. Store managers may carry their own safety
stock if needed. However, due to
Anheuser-Busch complex system, this can break down sales of each individual
store based on age, education, ethnicity, politics, and sexual orientation. Moreover, this is the main reason why
Anheuser-Busch hold a share of $75 billion in the US market. This system alone have doubled profits for
over 20 consecutive quarters.
In
my own opinion, I strongly believe this system is the most vital part of the
businesses operations management.
Without it, this could drive up transportation costs, since delivery
drivers would constantly deliver products, and provide inaccurate sales to
customers since they would not know when they need their product and how much
they would need. This statistical
analysis, based on customer orders, has driven the company in profit margins
not solely being known for the product, but how consumer receive the product.
References:
Heizer, J.,
Render, B. (2012). Operations Management (10th ed.). New Jersey: Prentice Hall.
As an asset management
contractor, fulfilling clients demands are very specific and technical due to
the expectation. When clients seek to
reduce cost, increase revenue, or develop processes to improve performance,
there are no simple agreements to any given projects. For a typical project, the client request a
total quote . This includes all
materials, labor, and/or special cost.
All quotes are to include future costs, depending on how complex the
project is. Once the quote has been
submitted, it is review by the department manager then approved by that
managers, the plant manager, and the plant controller. Once a purchase order has been submitted to
the contracting company, the project begins on a specific date. From here on, the client expects the project
to be carried out with extreme professionalism, top quality, and daily updates
to the progression for the project.
Unfortunately, there are no universal procedures due to each project
being unique, however this is a general idea to what the client expects.
As
example project would be the most recent project I've had to develop. The issue is that the plant is unable to
focus on its quality reject and scrap reduction program since the facility is
still in a launch phase. Due to this, it
is costing the facility over $1.6 million every six months. There is a process developed (not named), the
main issue is that i isn't being enforced or maintained throughout the facility. In my own development for this project, I
simply created everything from scratch beginning on where to collect the
rejected materials, how to identify each defects, dissembling each defected
product, documenting each part (salvaged or scrapped), and finally gaining
approval for salvaged materials. This
step by step process would be similar to an Operation Description Sheet (ODS
document), (2012). This document creates
a standard process for an operation in which team members would need to follow. Applying a Six Sigma and Kaizen philosophy
develops and evolves this project and any other.
To
maintain a good business relationship between contractor and client, a Total
Quality Management System (TQM) is commonly used every day. The basic model for a TQM is customer focus,
planning process, process management, process improvement, total participation,
(2010). This model is enforced every
day. Without it, or anything similar,
could lack the professionalism for the contractor to deliver what the client needs.
Personally,
I've witnessed many other contractors in the facility that have not lasted very
long. Whether it was project management,
enforcing quality standards for any project, or simply not improving project
development. To put things into perspective,
consider the client is offering to pay a contractor to manage and maintain a
project. If a contractor fails to do
this, then the client is not receiving the results of what they are paying for. The same would apply to anyone who buy a
project and the product breaks when used for its designed purpose. Since I've used this type of system, my
company has been the longest contractor there for over two year, beginning with
2 employees to now at 22.
References:
TQE.com. (2010). Total Quality Management. Retrieved from, http://www.tqe.com/TQM.html
Acronymfinder.com. (2012). What does ODS stand for? Retrieved from, http://www.acronymfinder.com/Operation-Description-Sheet-(ODS).html
Since globalization has spread
throughout the world, businesses of all types, including both large and small,
have increased their interest to incorporate operations to outside
nations. Such reasons may include saving
on material costs, enter a Free-Trade Zone, or simply reduce the cost of
labor. For whichever reason, these
global businesses help provide jobs to nations where employment is low and also
help reduce the prices in the given markets.
The most important reason why companies go global, is to develop a
business system that can better sustain the livelihood while competing with
other businesses in a similar industry.
To
better understand why businesses go global, let's consider cost to produce an
item. Before producing a final item,
certain supplies must be purchased. In
addition, there labor to produce is also a necessary cost. Whether nationally purchased, or
international purchased, there are business strategies that can lots of
money. For example, there is an American
company that manufactures and sells airplanes, (2012). If produced nationally, national wages must
be considered which can be quite expensive compared to wages in an undeveloped
country such as Columbia. However, the cost
for materials are much higher in the same country. Therefore the company can save lots of money by
purchasing materials nationally then shipping these materials internationally, and
finally, manufacturing the product in Columbia at a cheaper wage.
If
globalization is a common place between two countries within relevant
industries, or countries that seek to trade with each other based on what is
produced, the governments may establish a Free Trade agreement where importing
and exporting will have little or no taxes, (2012). Just like on the example above where an
American company works closely with Columbia, this could be considered a Free
Trade zone, depending on the trade agreement.
Logically, it would seem accurate being the American company's interest
to work with Columbia. Again, if the
global business wasn't saving or reducing costs, or to simply find means to
increase profits, then there would be no reason to globalize if taxes on
importing and exporting where a common factor.
On
the contrary to how globalization can reduce prices on products and the costs
to make them, it can affect a nation's micro economy. Particularly to domestic jobs, some jobs can
be outsourced to underdeveloped countries, much like the example described
above. Consider, prior to moving to
Columbia, the manufacturing operations where based in America. After going global, these jobs will no longer
become available in America. The results
are an increase in unemployment- this reduces consumer spending. Overall, consumer spending can greatly impact
a micro economy and disrupt markets for airplanes. Some critics even argue that Free Trade
doesn't work because there are more
failing economies now than before Free Trade, (2010). However, most companies see an opportunity
for foreign investment, and can profit in their short-term and mid-term goals.
In
conclusion, some companies go global because they seek an opportunity to reduce
production cost and product prices, and an area of Free Trade. Depending on the industry, competition can
push companies into globalization, such as the aviation industry, or
electronics as another example. Although
going global may seem great a company, this can potentially have negative effects
on an economy where jobs are outsourced for cheaper labor. This disrupts consumer spending, affecting
nearly all industries
References:
Cobb Jr.,
J. (2010). Free Trade does not work. Retrieved from, http://www.globalresearch.ca/index.php?context=va&aid=20379
AIU Online.
(2012). MGMT410: Unit 1: Global Operations
Management [Power Point Presentation]. Retrieved from
AIU Online Virtual Campus. Global Operations Management: MGMT415-1202A-06
Instructor
Files
Investopedia.com.
(2012). Free trade area. Retrieved from,
http://www.investopedia.com/terms/f/free_trade_area.asp#axzz1q5BUFqxS
Innovation
is define by a product of means to which it introduces a breakthrough in
performance, quality, price, and general purpose. Depending on the
industry, innovation may be common, or may be very rare to see such
products. In regards to the technology industry, with a focus on
mobile technology, the Samsung Galaxy S3 is among the most famous and the most
innovative phone for the worldwide consumer market in current
times. Before details on the S3 are provided, let us see how and why
Samsung has been able to produce such innovative technology, that can threaten
other markets in the desktop and laptop areas.
It
began with the Samsung Galaxy S, which was a smart phone provided by most major
carriers. Although at the time, the Galaxy S performance wasn't
better than the Apple iPhone 4, yet it succeeded the iPhone 3 and
3G. The first Galaxy S performance was similar to the iPhone 4
(GSMareana.com, 2012), however with the success of the Apple iPhone
3G, many consumers stayed loyal as an Apple consumer with 75 million
units sold worldwide (Kumparak, 2010), compared to the Galaxy S at 30 million,
(Albanesius, 2011). Not to forget, Blackberries line of smartphones.
However with the lacked development to mobile apps. (applications for
short, and often a common term), Blackberry's sales have been lost to the Apple
market and Android (Google Play in current times).
As
Samsung uped their competition to the Galaxy S2, as did Apple with the iPhone
4S, the comparisons between the two, gave the Galaxy S2 almost a 50% higher
advantage, (Compare-cellphones.org). Now with the Galaxy S3 out on
the market, this phone is tremendously outperforming the Apple iPhone 4S,
(Compare-cellphones.org, 2012). Apple is expected to release the
iPhone 5, but no set date has yet to be released. With Samsung
Galaxy series, there is little doubt that this company will abandon this
product for quite some time. Their continuing to upgrade and develop
new technology will bring in no doubt bring more innovative products to
consumers.
The
only downfall to technology is how quickly new and more advanced technology is
updated within a year's time. If Apple decides to release the iPhone
5, this could threaten sales potentials for the Galaxy S3. Many predict
these two companies to be rivals in the mobile technology industry, as each
fluctuates in leading sales, but this is not uncommon in the technology sector. Moreover,
as the smartphone are becoming more and more powerful, with new technology
almost every year, this could also threaten the laptop and desktop industries,
since these smartphone are becoming more like mobile computers rather than a
phone.
References:
Albanesius, C. (2011). Samsung Galaxy S Sales
Hit 30 Million. Retrieved from,
http://www.pcmag.com/article2/0,2817,2394782,00.asp#fbid=yJL_Tc-aX7ll
Kumparak, G. (2010). Apple sold 14.1 million
iPhones last quarter, over 70 million since launch. http://techcrunch.com/2010/10/18/apple-sold-14-1-million-iphones-last-quarter-over-70-million-since-launch/
Compare-cellphones.org. (2012).
Apple iPhone 4S VS Samsung Galaxy S II. Retrieved from,
http://www.compare-cellphones.org/Apple-iPhone-4S-vs-Samsung-Galaxy-S-II
Compare-cellphones.org. (2012).
Apple iPhone 4S VS Samsung Galaxy S III. Retrieved from,
http://www.compare-cellphones.org/Samsung-Galaxy-S-III-Quad-Core---32-GB---International-edition-vs-Apple-iPhone-4S
GSMarene.com. (2012). Apple iPhone 4. Retrieved
from, http://www.gsmarena.com/apple_iphone_4-3275.php
GSMarena.com. (2012). Samsung I9000 Galaxy S.
Retrieved from, http://www.gsmarena.com/samsung_i9000_galaxy_s-3115.php
The details below provides a guideline on how to reduce your monthly living expenses, by making some simple sacrifices. Although some of the sacrifices may not be suited for most, nevertheless, the intentions for the passage is to provide readers with a perspective on where and how to save on your monthly living expenses.
1. Begin with the necessities of life (food,
drink, housing)- 76% reduced.
The necessary means to live is to eat and
drink, and to sleep. Most of us,
probably already have a place to call home, so this section will mostly how to
reduce the monthly expenses for food and drink.
Beginning with drink, water is the most vital source we need to survive,
moreover it is also the most abundant and easily attainable from most developed
nations. However, not all public
accessible is satisfying or safe for us.
Sanitary chemicals from water treatment plants are a normal process to
produce clean water. There, the public accessible
water, is 100% clean for a natural taste.
This is one reason why bottled water differs from treated water. For the readers who are more concerned with
healthy living, consider buying a water filtration system, such as Pur.
With water in perspective, do we really need
any other drink? No. The purpose of this, is to eliminate the
luxuries we take for granted in life.
Colas, juices, teas, etc., are all considered luxury items unless
medically prescribed by a physician.
Next, food is topic. Again, just as water was previously detailed,
food applies to the same when it come sto luxury items. There are only a few vitamins and minerals
the body requires in order to function properly, without getting sick. Mineral grains are among the best to help
supply sources. Rices, noodles, and
other such grains can be sufficient enough.
Moreover, if certain person need more vitamins/minerals, a multi-vitamin
can help meet the standards for the body.
With food in perspective, do we really need
that 12 oz. rib eye? No. All other foods
can thus be defined as an luxury item, expect sources of sugar. The body also needs adequate amounts of sugar
as well as protein to maintain proper functionality. The question again is, do we need a 1 gallon
tub of ice cream? No, cheap sources of
sugar can be obtained from discount brand sugar cookies. For protein, eggs are a perfect sources.
To put some numbers on the table, I, a single
male, was previously spending $120+ per month on food and drink. My diet consisted of sandwiches of turkey and
provolone cheese, spicy Italian
sausages, chicken wings, pasta, ice cream cakes, beer, green tea, and a few
more items. After taking into consider
the above philosophy, I was able to reduce my monthly food expenses to a mere
$28.8 per month. This does not include
the price for multi-vitamins. See figure
1 for example.
Figure 1:
2. Carpool, walk, public transit, etc- 100%
reduced.
Considering I live right beside work and most
stores that I daily shop from, I was debating on if I needed my sports car or
not (2012 370z). Since I drove the car
for pleasure, my thoughts were that this car was a necessity in my life. Therefore, I decided to eliminate this extra
cost and walk, use public transit (not necessarily needed), or carpool with
friends.
By eliminating my cost, I was able to write of
my car note, insurance, and the unpredictable price in gas. My car note alone, was $504/month, insurance
was about $151/month - full coverage with Progressive, and gas was estimated at
around $50/month since I like to drive super fast. Therefore, my total monthly cost for having a
car, was about $705/month. By selling my
car, I was able to reduce 100% of my car, and still manage to get where I
needed. See figure 1 for a visual
example.
Figure 2:
3. Adjust the circuit breakers in your home-
30% reduced.
When electricity
comes to mind, I often wonder why electric companies are continuing to charge
me electric cost, while I'm not even there, despite everything in theory is
off. However, when I considered
everything was off, I was referring to the tv, lights, and HVAC. Little did I think about the refrigerator and
hot water heater. So, again, there
question here is, do we really need this?
For most of us yes, and some no.
On the contrary, for those who do need these expenses, at what
times?
Keeping the same philosophy,
I considered to turn off the power to certain areas at certain times so that
that a majority of all electricity will be eliminated through my home while I'm
not there, or not using it. While I'm
away, I turn off the complete breakers to everything except the
refrigerator. This is to insure that
food will not become spoiled.
In regards to the
water heater, how often do you need hot water?
For most of us, when we shower, wash dishes, clean, etc. Not while we aren't there. So why pay for unused electricity?
On a minor note, my
apartment is very well insulated, and can maintain a constant 76 degrees
Fahrenheit, so I absolutely never use my HVAC.
Also, when using an
oven/stove, consider how many more times you will use it. On my current diet, I eat boiled eggs every
morning for breakfast. If I know I am
going to eat eggs in the future, wouldn't it be logical to cook several eggs at
once, instead of cooking one or two eggs each time?
After implementing
this expense reduction philosophy, my power expense went from about $50/month
to about $35/month. Although this amount
may not seem like much to many readers, however ever dollar adds up to every
final expense. See below for the chart.
Figure 3.
4. Conclusion
In conclusion, the
above provides some tips on how to help reduce your monthly living expenses. Although the tips may not be suited for
everyone, but for those who choose to participate can expect some financial
gain through the results. In figure 4,
is the total to how much I was able to reduce.
Figure 4.
If you have any
questions, concerns, or suggestions, feel free to contact me, and thank you for
taking the time to read my blog.
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