From the category archives:

Operations Management

Semantic Web

March 1, 2010 Operations Management

An extension of the World Wide Web, Semantic Web enables people to share content beyond the boundaries of applications and websites. Programs based on Semantic web can configure appliances. So, if you answer your phone, you won’t have to turn down the music system’s volume, it’ll do so on its own. Of course, the invention [...]

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The methods of Merchandise Procurement

February 21, 2010 Operations Management

The process of merchandise planning takes the buyer through to the stage of determining the products that he needs to have in the store and the quantities that he needs of the same. A key decision to be taken by a buyer is to determine where he has to buy the merchandise from. Determining the [...]

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Technology Tools used for Merchandise Management

February 21, 2010 Operations Management

In the years 1978, James D Armstrong formed JDA Software services in Calgary, Alberta which grew to one of Canada’s largest IBM Midrange software providers. Over the years JDA’s commitment to the industry’s evolving requirements has enabled it to secure the market leading position. The software applications have expanded from core merchandising and point of [...]

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Stepping Stone Method

February 16, 2010 Operations Management

In this method, we suppose that a unit of quantity is taken from a used square and placed in an unused square. We see whether there is any reduction in total cost by this. The cost of squares which are now provided by an additional unit would be added and the costs of the squares [...]

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Transportation Problems

February 16, 2010 Operations Management

What is a transportation problem? In a business transaction products would have to be carried from the supplier to the buyer. This is possible by transportation only. However, any of the various means of transportation can be used. But the main thing is that the transportation would involve a certain cost. Transportation cost is a [...]

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To Decide Continue or Shut Down

February 14, 2010 Operations Management

In the case of serious marketing constraints the firm may be confronted with the problem whether to continue or shut down a particular unit of production for the time being with the help of break even analysis. It can be easily saved. If the contribution from the product is positive, that is, contribution of the [...]

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Determining the Merchandise requirements

February 14, 2010 Operations Management

Planning is essential to provide direction and serve as a basis of control for any merchandise department. In order to be able to provide the right goods to the consumer at the right place and time, one needs to plan a course of action. Planning in merchandising is at two levels: 1) The creation of [...]

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Profit improvement through Merchandise planning

February 11, 2010 Operations Management

The primary objective of merchandise planning is profit improvement. As the buyer plans the buying for each department, a better overview of the profitability is available for the retail organization that it will be able to achieve. As the function of merchandising deals with the actual procurement of products for the retailer, it has implications [...]

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The Process of Merchandise Planning

February 11, 2010 Operations Management

Customers visiting a retail shop, very often, know what they wish to purchase; they may however, be unaware of the specific size, variant or type of product that is best suited for their needs. After an initial assessment of the products available, they may arrive at a decision in terms of the specific product that [...]

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Mechanics of Break Even Analysis

February 11, 2010 Operations Management

Here it is required that certain items frequently used in this technique be introduced and the calculations of break even point made with the derivation of various formulas. Break even Point: The break even point is at which the total cost line and the sales line (i.e. total revenue line) intersect one another on the [...]

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