Supply Chain Management and Innovation Essay Example | Topics and Well Written Essays - 750 words

Supply Chain Management and Innovation - Essay Example Though the concept of innovation is not an unknown or new concept for many of the organizations, the old fashioned strategies that were adopted in the olden days may not suit to today's business environment. In order to improve the performance and profitability, today, organizations are required to involve in the most exciting innovative experiments. This would definitely help them create a nice future for the organizations failing which they may not be able to compete with the increasing competition and other innovative competitors. Though most of the companies believe that innovation is one of the factors that help the organization perform and achieve huge profits, it is revealed through a recent study that only 25% of the organizations across the world believe in innovation being the key strategy for the organization's success. Actually, this approach should not be followed. The organizations and all the employees of the firm are required to give the highest priority to innovation in order to sustain the competition and achieve higher profits and also to perform better. (Supply Chain Management) 2. Poor cross-firm integration and collaboration lead to supply chain planning problems. This situation was faced by a company called Leitax, a consumer electronic company. In order to overcome the problems in integration, the company introduced a new system that helps it resolve the existing problems and create better integration among the different functions of the supply chain. The major benefits of increased-integration are better information-sharing, accurate planning and also aligned execution of the plans. Information sharing doesn't simply mean sharing of information among different members. The scope is much broader. Sharing of information requires a lot of attention to be paid to aspects like behavioral dynamics of the operations management. Along with integrating the information requirements for planning within the supply chain, coordination of systems can also help in upholding the organization differentiation that is perceived by the various stakeholders. In a dynamic and yet challenging supply chain environment, a consensus forecasting system can be advantageous in buy-in integration and many other similar concepts. Operationalizing the integration as a functional alignment can yield better results to any organization. Alignment is always a positively influenced by collaborative engagement. Alignment encouraged by collaborative engagement can be more important than achieving, superior performance along such dimensions as speed or accuracy in individual information processing steps of the S&OP process. (Watson) Bibliography 1. Supply Chain Management. Sypply chain management case studies. 3 November 2007. 12 November 2007 . 2. Watson, Rogelio Olivia and Noel. Cross functional Alignment in Supply Chain Managment. 6 Spetember

To raise or lower tuition at a University Essay Example | Topics and Well Written Essays - 750 words

To raise or lower tuition at a University - Essay Example The definition of revenue is actually total amount of money that a firm, in this case the university receives, from the goods and services it offers for sale. Average Revenue= TR/Q- This the total amount of fees paid by each individual student in the university. It’s the fee per student. Plot of these values on a graph will give us the demand curve of the university. If the students behave like rational consumers they will evaluate the effect of the rise in tuition fees on their gain in the institution. As we can observe from the above curves, we can say that an increase in price will lead to a decrease in the goods consumed. This is the case with normal economic expectation from the students who we categorically say that they are normal and rational consumers of the good which is education. It is true to say that an increase in fees may lead to decline in the number of students because some may drop out of school due to lack of funds to further or complete their studies. This is a decrease in Total revenue TR for the University from TR1 to TR2. This is actually because the price which is the tuition fees has increased from P1 to P2. This scenario the state university might loss revenues so if the students will behave like normal consumers they should reconsider that decision. An increase in tuition will also increase in revenue if the students do not withdraw their membership. Another scenario where the revenue may even escalate is when new students flood in to register as students of the university while the old ones retain their membership; this is because they associate the increase in tuition with an increase in services in the university. In this case the University will register high revenue and thus if the situation is good and the students behave like that, they should increase tuition for them to earn more revenue. The revenue will remain the same if