Distinct Features of Job Production Essay Example for Free

Distinct Features of Job Production Essay Job Shop Production usually refers to manufacturers that produce items that are one of a kind, for example, manufactures of automation systems and tooling. Manufacturers who produce a wide variety of items in very low volumes also fall into the Job shop category. For example, very large mining trucks are produced in volumes typically less than 400 annually. Each truck has thousands of components so you can imagine that there are significant challenges in production scheduling, purchasing and inventory control with this type of manufacturing company as with all Job shops. Job Production Job production involves producing a one-off product for a specific customer. Job production is most often associated with small firms (making railings for a specific house, building/repairing a computer for a specific customer, making flower arrangements for a specific wedding etc. ) but large firms use Job production too. Examples include: Designing and implementing an advertising campaign Auditing the accounts ofa large . Building a new factory Installing machinery in a factory In this system products are made to satisfy a specific order. However that order may be produced- -only once -at irregular time intervals as and when new order arrives -at regular time intervals to satisfy a continuous demand The following are the important Features of Job shop type production system: Machines and methods employed should be general purpose as product changes are quite frequent. Planning and control system should be flexible enough to deal with the frequent changes in product requirements. Man power should be skilled enough to deal with changing work conditions. ? Schedules are actually non existent n this system as no definite data is available on the product. In process inventory will usually be high as accurate plans and schedules do not exist. Product cost is normally high because of high material and labor costs. Grouping of machines is done on functional basis (i. e. as lathe section, milling section etc. ) This system is very flexible as management has to manufacture varying product types. Material handling systems are al so flexible to meet changing product requirements. Key benefits of Job production include: work is generally of a high quality high level of customisation is possible to meet the customers exact requirements significant flexibility is possible, especially when compared to mass production. performing Disadvantages include: higher cost of production requires the use of specialist labour (compare with the repetitive, low-skilled Jobs in mass production. slow compared to other methods of production. Essential features There are a number of features that should be implemented in a Job production environment, they include: Clear definitions of objectives should be set. Clearly outlined decision making process. Batch production is a manufacturing used to produce or process any product in BATCHES, as opposed toa CONTINUOUS PRODUCTION process, or a one-off production. The primary characeristic of batch production is that all components are completed at a workstation before they move to the next one. Batch production is popular in bakeries and in the manufacture of sports shoes, pharmaceutical ingredients, inks, paints and adhesives . Batch Production Batch production is the manufacture of a number of identical articles either to meet a specific order or to meet a continuous demand. Batch can be manufactured either- -only once -or repeatedly at irregular time intervals as and when demand arise -or repeatedly at regular time intervals to satisfy a continuous demand The following are the important Features of batch type production system: As final product is somewhat standard and manufactured in batches, economy of scale can be availed to some extent. Machines are grouped on functional basis similar to the Job shop manufacturing. ? Semi automatic, special purpose automatic machines are generally used to take advantage of the similarity among the products. Labor should be killed enough to work upon different product batches. In process inventory is usually high owing to the type of layout and material handling policies adopted. Semi automatic material handling systems are most appropriate in conjunction with the semi automatic machines. Normally production planning and control is difficult due to the odd size and non repetitive nature of order. There are inefficiencies associated with batch production. The production equipment must be stopped, re- confgured, and its output tested before the next batch can be produced. Time between batches is known as down time. Batch production is useful for a factory that makes seasonal items or products for which it is difficult to FORECAST demand. There are several advantages of batch production; it can reduce initial capital outlay because a single production line can be used to produce several

Life The Courage To Change :: essays research papers

Cruel Intentions, is a film about a young man, Sebastian, and his stepsister, Kathryn, who together do everything in their power, sexual or not, to better their own reputation. They try everything, even if it means ruining someone else’s life, reputation or well being, just to better themselves. They manipulate, use, and belittle every human being possible that comes in the way of their perfect life. Cruel Intentions, a film that uses the setting to produce the irony portrayed at the hand of the characters, also uses this irony and characters actions to contribute to the theme.   Ã‚  Ã‚  Ã‚  Ã‚  The setting of the film in a high-class society, a society in which only the high-ranking members live. A society in which as you drive down the road each house is bigger than the first. These people live in a society where each child has their own car and not to mention bank account. The people in this society crave competition and seek to be better. This particular setting shows forth the attitudes the characters uphold, that make them believe they upscore others around them. This too in fact portrays the irony of the film. For example, Kathryn believes that if a certain man cannot hold a relationship with her he cannot involve himself with anyone at all. Kathryn sets out to ruin his life and ruin the life of his significant other, getting her to fall in love with her music instructor rather than following her heart. This type of behavior leads the audience to believe that Kathryn uses her ranking and her setting in life to achieve personal happiness. In this fi lm come two morals, first you may not always be set in your ways something good can happen in life something that can change everything. Sebastian, the type of person who sleeps with anyone, does not have the best reputation among the ladies. Although in the plot to ruin the young man’s life Sebastian meets a young girl named Annette and slowly falls in love with her. Not for her body or for his sexual pleasure but for how she made him feel loved and wanted he enjoyed this feeling. Albeit a feeling that makes him confused it turns into a feeling he decides will make his life better. Proving that your are not always set in your ways, good or bad ways. Change occurs with life. The second moral state that what goes around comes around.

Evolution of Financial Management Essay

The Traditional Phase:This phase has lasted for about four decades. Its finest expression was shown in the scholarly work of Arthur S. Dewing, in his book tilted the Financial Policy of Corporation in 1920s. In this phase the focus of financial management was on four selected aspects. It treats the entire subject of finance from the outsider’s point of view (investment banks, lenders, other) rather than the financial decision maker in the firm. It places much importance of corporation finance and too little on the financing problems of non-corporate enterprises. The sequence of treatment was on certain episodic events like formation, issuance of capital, major expansion, merger, reorganization and liquidation during the life cycle of an enterprise. It laid heavy emphasis on long-term financing, institutions, instruments, procedures used in capital markets and legal aspects of financial events. That is, it lacks emphasis on the problems of working capital management. It was criticized throughout the period of its dominance, but the criticism is based on matters of treatment and emphasis. Traditional phase was only outsiders looking approach, over emphasis on episodic events and lack of importance to day-to-day problems. The Transition Phase: It began in the early 1940’s and continued through the early 1950’s. The nature of financial management in this phase is almost similar to that of the earlier phase, but more emphasis is given to the day-to-day (working capital) problems faced by the finance managers. Capital budgeting techniques were developed in this phase. Much more details of this phase is given in the book titled Essays on Business Finance. The Modem Phase: It began in the mid 1950’s and has shown commendable development with combination of ideas from economic and statistics has led the financial management to be more analytical and quantitative. The main issue of this phase is rational matching of funds to their uses, which leads to the maximization of shareholders’ wealth. This phase witnessed significant developments. The area of advancement was – capital structure. The study says the cost of capital and capital structure is independent in nature. Dividend policy, suggests that there is the effect of dividend policy on the value of the firm. This phase has also seen one of the first applications of linear programming. For estimation of opportunity cost of funds, multiple rates of return-gives way to calculate multiple rates of a project. Investment decision under conditions of uncertainty gives the formula for determination of expected cash inflows and variance of net present value of project and also defined how probabilistic information helps the firm to optimize investment decisions involving risk. Portfolio analysis gives the idea for the allocation of a fixed sum of money among the available investment securities. Capital Asset Pricing Model (CAPM), suggests that some of the risks in investments can be neutralized by holding a diversified portfolio of securities. Arbitrage Pricing Model (APM), argued that the expected return must be related to risk in such a way, that no single investor could create unlimited wealth through arbitrage. CAPM is still widely used in the real world, but APM is slowly gaining momentum. The Agency theory emphasizes the role of financial contracts in creating and controlling agency problems. Option Pricing Theory (OPT), applied Martingale pricing principle to the pricing of real estates. The cash management of models (working capital management) by Baumol Model, Miller and Orglers, Baumol models helps to determine optimum cash conversion size; Miller model reorder points and upper control points and Orglers model helps to determine optimal cash management strategy by adoption of linear programming application. Further new means of raising finance with the introduction of new capital market instruments, such as Pads, Fads, PSBs and Caps, etc. Financial engineering that involves the design, development and the implementation of innovative financial instruments, and formulation of creative optional solutions to problems in finance. Even though, the above mentioned developed areas of finance is remarkable, but understanding the international dimension of corporate finance formed a very small part of it, which is not sufficient in this era of globalization.

Who Wrote William Shakespeares Plays

Shakespeare’s true identity has been in dispute since the Eighteenth Century because only fragments of evidence have survived the 400 years since his death. Although we know a great deal about his legacy through his plays and sonnets, we know little about the man himself - Exactly who was Shakespeare?. Unsurprisingly then, a number of conspiracy theories have built up around Shakespeare’s true identity. Shakespeare Authorship There are a number of theories surrounding the authorship of Shakespeare’s plays, but most are based on one of the following three ideas: The William Shakespeare of Stratford-upon-Avon and the William Shakespeare working in London were two separate people. They have been falsely connected by historians.Someone called William Shakespeare did work with Burbage’s theater company at The Globe, but did not write the plays. Shakespeare was putting his name to plays given to him by someone else.William Shakespeare was a pen name for another writer – or perhaps a group of writers These theories have sprung up because the evidence surrounding Shakespeare’s life is insufficient – not necessarily contradictory. The following reasons are often cited as evidence that Shakespeare didn’t write Shakespeare (despite a distinct lack of evidence): Someone Else Wrote the Plays Because The will of the world’s greatest writer did not itemize any books (however, the inventory part of the will has been lost)Shakespeare did not have the university education required to write with such knowledge of the classics (although he would have been introduced to the classics at school in Stratford-upon-Avon)There is no record of Shakespeare ever attending Stratford-upon-Avon grammar school (however, school records were not kept back then)When Shakespeare died, none of his contemporary writers made tribute to him (although references were made during his lifetime) Exactly who wrote under the name of William Shakespeare and why they needed to use a pseudonym is unclear. Perhaps the plays were written to instill political propaganda? Or to hide the identity of some high-profile public figure? The Main Culprits in the Authorship Debate Are Christopher Marlowe He was born in the same year as Shakespeare, but died around the same time that Shakespeare started to write his plays. Marlowe was England’s best playwright until Shakespeare came along – perhaps he didn’t die and continued writing under a different name? He was apparently stabbed in a tavern, but there is evidence that Marlowe was working as a government spy, so his death might have been choreographed. Edward de Vere Many of Shakespeare’s plots and characters parallel events in the life of Edward de Vere. Although this art-loving Earl of Oxford would have been educated enough to write the plays, their political content could have ruined his social standing – perhaps he needed to to write under a pseudonym? Sir Francis Bacon The theory that Bacon was the only man intelligent enough to write these plays has become known as Baconianism. Although it is unclear why he would have needed to write under a pseudonym, followers of this theory believe that he left behind cryptic ciphers in the texts to reveal his true identity.