This document analyzes A's Laundry Shop in Mintal, Davao City using a profit maximization approach. Data was collected through interviews with the shop owners and analyzed using Excel, Gretl, and Lingo software. A Cobb-Douglas production function was modeled and profit was maximized subject to budget constraints. Results showed the maximum profit of PHP 38,694.31 can be achieved with PHP 13,978.71 in capital and PHP 5,626.773 in labor per month, producing 2,914.989454 kilos. SWOT analysis was conducted to provide recommendations like expanding the business and investing in technology.
Application of Linear Programming for Optimal Use of Raw Materials in Bakeryinventionjournals
This document summarizes a study that utilized linear programming to optimize the use of raw materials in a bakery for profit maximization. The researchers formulated a linear programming model to determine the optimal production levels of small, big, and giant loaves. The results showed that producing 962 units of small loaf and 38 units of big loaf, while producing 0 units of giant loaf, would yield the highest profit of N20,385. In conclusion, more production of small and big loaves would maximize the bakery's profit.
Application of Linear Programming for Optimal Use of Raw Materials in Bakeryinventionjournals
This work utilized the concept of Simplex algorithm; an aspect of linear programing to allocate raw materials to competing variables (big loaf, giant loaf and small loaf) in bakery for the purpose of profit maximization. The analysis was carried out and the result showed that 962 units of small loaf, 38 units of big loaf and 0 unit of giant loaf should be produced respectively in order to make a profit of N20385. From the analysis, it was observed that small loaf, followed by big loaf contribute objectively to the profit. Hence, more of small loafs and big loafs are needed to be produced and sold in order to maximize the profit.
Here are the key points from the literature review:
- Ratio analysis has been used as a financial analysis tool for over a century, with major developments in the 19th century.
- In the 19th century, more ratios were developed compared to earlier periods. Proper ratio criteria also emerged, such as the current ratio criterion.
- Analysts recognized the need for inter-firm comparisons, leading to the development of relative ratio criteria.
- While ratio analysis has been used for a long time, the literature suggests there is still room for improvements and new developments in its application and methodology.
1. Explain the impact which globalization and technological advancement have on management accounting in the past two decades.
1.1 Globalisation
1.2 Technology Advancement
2. Discuss some different managerial uses of cost information in an airline company
2.1 Introduction
2.2 Planning
2.3 Implementation of management techniques
2.4 Review of Management Principles
2.4.1 Capital expenditure - Purchasing new aircraft.
2.4.2 Sensitivity Analysis - Increasing corporate responsibility through environmental performance and partnerships.
2.4.3 Activity Based Costing - Managing a better cost base operation.
2.4.4 Cost-volume-profit analysis -Upgrading the customer experience through the introduction of mobile application services for business class customers.
2.5 Conclusion
3. Do you think that a management accountant can play an important role in a non- profit organisation? Choose a specific non-profit organisation which you are familiar with to explain your answer.
3.1 Introduction to World Food Program
3.2 Objective of World Food Program
3.3 Planning
3.4 Monitor/ Implementation
Determine the cost information
Lengthening organization’s lifespan
Prepare a new budget & attract more donor
Evaluating and managing the inventory
Provide relevant information
3.5 Conclusion
This document discusses the positives and pitfalls of telecommuting or flexible work arrangements. It provides examples of companies that have implemented telecommuting successfully, such as Norsk Hydro and Procter & Gamble, which saw benefits like improved productivity, cost savings, and a more satisfied workforce. However, the document also notes challenges of telecommuting cited by critics, such as the potential negative impact on collaboration and creativity. It concludes that while telecommuting can be beneficial if implemented properly, companies need to consider their individual needs and get employee input to determine if and how flexible work arrangements could work for their organization.
The E P&L is a pioneering tool to help businesses manage their relationship with the natural environment. All businesses rely on natural capital to deliver their products and services. However, as a result of their activities, businesses also impact the environment through their use of land and natural resources and their emissions to air, discharges to water and waste.
Kering developed the E P&L to help measure and understand its impact on natural capital across its supply chain, from raw materials to the delivery of products to customers.
I. INTRODUCTION TO OPERATION MANAGEMENT.pdfJenelIturiaga
This document provides an introduction to operations management. It discusses key concepts such as:
- Operations management involves designing and controlling production processes to provide goods and services.
- It focuses on the people, technology, systems, and processes involved in production and delivery.
- Common operations management tasks include designing processes, managing quality, supply chain management, and scheduling.
- Businesses utilize operations management to produce goods and services in an efficient manner.
IRJET- A Literature Review on How Lean Manufacturing used as a Tool in Servic...IRJET Journal
This document provides a literature review on how lean manufacturing concepts have been applied in the service industry. It first discusses how lean originated in manufacturing at Toyota and has since been applied more broadly. It then reviews several studies that implemented lean tools and techniques in various service sectors like education, healthcare, finance, telecommunications and hospitality. The studies found benefits like improved customer satisfaction, reduced costs and waste, shorter lead times and process cycle times. However, implementing lean in services also faces some challenges due to differences from manufacturing. Overall, the literature shows that lean thinking can provide value to service industries by helping increase quality and reduce costs to better meet customer demands.
Application of Linear Programming for Optimal Use of Raw Materials in Bakeryinventionjournals
This document summarizes a study that utilized linear programming to optimize the use of raw materials in a bakery for profit maximization. The researchers formulated a linear programming model to determine the optimal production levels of small, big, and giant loaves. The results showed that producing 962 units of small loaf and 38 units of big loaf, while producing 0 units of giant loaf, would yield the highest profit of N20,385. In conclusion, more production of small and big loaves would maximize the bakery's profit.
Application of Linear Programming for Optimal Use of Raw Materials in Bakeryinventionjournals
This work utilized the concept of Simplex algorithm; an aspect of linear programing to allocate raw materials to competing variables (big loaf, giant loaf and small loaf) in bakery for the purpose of profit maximization. The analysis was carried out and the result showed that 962 units of small loaf, 38 units of big loaf and 0 unit of giant loaf should be produced respectively in order to make a profit of N20385. From the analysis, it was observed that small loaf, followed by big loaf contribute objectively to the profit. Hence, more of small loafs and big loafs are needed to be produced and sold in order to maximize the profit.
Here are the key points from the literature review:
- Ratio analysis has been used as a financial analysis tool for over a century, with major developments in the 19th century.
- In the 19th century, more ratios were developed compared to earlier periods. Proper ratio criteria also emerged, such as the current ratio criterion.
- Analysts recognized the need for inter-firm comparisons, leading to the development of relative ratio criteria.
- While ratio analysis has been used for a long time, the literature suggests there is still room for improvements and new developments in its application and methodology.
1. Explain the impact which globalization and technological advancement have on management accounting in the past two decades.
1.1 Globalisation
1.2 Technology Advancement
2. Discuss some different managerial uses of cost information in an airline company
2.1 Introduction
2.2 Planning
2.3 Implementation of management techniques
2.4 Review of Management Principles
2.4.1 Capital expenditure - Purchasing new aircraft.
2.4.2 Sensitivity Analysis - Increasing corporate responsibility through environmental performance and partnerships.
2.4.3 Activity Based Costing - Managing a better cost base operation.
2.4.4 Cost-volume-profit analysis -Upgrading the customer experience through the introduction of mobile application services for business class customers.
2.5 Conclusion
3. Do you think that a management accountant can play an important role in a non- profit organisation? Choose a specific non-profit organisation which you are familiar with to explain your answer.
3.1 Introduction to World Food Program
3.2 Objective of World Food Program
3.3 Planning
3.4 Monitor/ Implementation
Determine the cost information
Lengthening organization’s lifespan
Prepare a new budget & attract more donor
Evaluating and managing the inventory
Provide relevant information
3.5 Conclusion
This document discusses the positives and pitfalls of telecommuting or flexible work arrangements. It provides examples of companies that have implemented telecommuting successfully, such as Norsk Hydro and Procter & Gamble, which saw benefits like improved productivity, cost savings, and a more satisfied workforce. However, the document also notes challenges of telecommuting cited by critics, such as the potential negative impact on collaboration and creativity. It concludes that while telecommuting can be beneficial if implemented properly, companies need to consider their individual needs and get employee input to determine if and how flexible work arrangements could work for their organization.
The E P&L is a pioneering tool to help businesses manage their relationship with the natural environment. All businesses rely on natural capital to deliver their products and services. However, as a result of their activities, businesses also impact the environment through their use of land and natural resources and their emissions to air, discharges to water and waste.
Kering developed the E P&L to help measure and understand its impact on natural capital across its supply chain, from raw materials to the delivery of products to customers.
I. INTRODUCTION TO OPERATION MANAGEMENT.pdfJenelIturiaga
This document provides an introduction to operations management. It discusses key concepts such as:
- Operations management involves designing and controlling production processes to provide goods and services.
- It focuses on the people, technology, systems, and processes involved in production and delivery.
- Common operations management tasks include designing processes, managing quality, supply chain management, and scheduling.
- Businesses utilize operations management to produce goods and services in an efficient manner.
IRJET- A Literature Review on How Lean Manufacturing used as a Tool in Servic...IRJET Journal
This document provides a literature review on how lean manufacturing concepts have been applied in the service industry. It first discusses how lean originated in manufacturing at Toyota and has since been applied more broadly. It then reviews several studies that implemented lean tools and techniques in various service sectors like education, healthcare, finance, telecommunications and hospitality. The studies found benefits like improved customer satisfaction, reduced costs and waste, shorter lead times and process cycle times. However, implementing lean in services also faces some challenges due to differences from manufacturing. Overall, the literature shows that lean thinking can provide value to service industries by helping increase quality and reduce costs to better meet customer demands.
Operations management involves planning, organizing, and overseeing processes that transform inputs into finished goods and services. It is concerned with designing and managing production systems and processes. Key aspects of operations management include productivity measurement, decision-making, and adapting to changes in technology and customer demands over time. Measuring productivity allows managers to assess the efficiency of converting various resources like labor, equipment, materials, and energy into outputs.
A LINEAR PROGRAMMING METHOD TO ENHANCE RESOURCE UTILIZATION CASE OF ETHIOPIAN...Jessica Henderson
This document summarizes a study that uses linear programming to optimize resource utilization and profitability for an apparel manufacturing company in Ethiopia. Data on 5 product types, resource requirements, costs and profits were collected from a case company. A linear programming model was developed with the objective of maximizing total profit, subject to material, cost and time constraints. The model was solved using Excel solver. The results showed the current resource utilization of 46.41% could be improved to 98.57% under the optimal solution, increasing total monthly profit from 365,699 birr to 897,844 birr, enhancing the company's competitiveness.
The document discusses strategic formulation in enterprise strategy. It defines strategy as a long-term plan to achieve organizational objectives using available resources. There are three approaches to strategy: design, ideas, and experience. Positioning approaches include rational planning and strategic planning. Stakeholder analysis is important to assess how a strategy may impact different stakeholders and identify potential resistance. Corporate political activity like lobbying and election funding can help manage relationships with government.
a comprehensive strategy for globally integrated operationsYesica Adicondro
This document discusses strategies for operationalizing global integration. It begins by describing how globally integrated companies focus on repeatable processes, optimized assets, and integrated operations (the R-O-I framework). It then analyzes 20 best practice cases and finds they focus on these three elements to different degrees. Repeatable processes are emphasized most, with a focus on eliminating inefficiencies through standardization and automation. Optimized assets and integrated operations are also important but receive less focus. The document concludes by providing examples of how Toyota optimized effectiveness through standardized processes and Li & Fung eliminated inefficiencies through a flexible global supplier network.
Productivity Improvement using Lean Manufacturing '“ A Case Study at Muththam...ijtsrd
At the present scenario, the Lean Manufacturing has become a worldwide phenomenon. A large number of organizations are following Lean technologies and experiencing vast improvement in quality, production, customer service and profitability. Muththamizh industries in Palani is a manufacturing company that manufactures variety of agricultural oriented machines. In this work to adopt the Lean manufacturing concept in this industry by using Value Stream Mapping (VSM) technique and to reduce the wastes such as long lead time, defects, material waste etc. Our project focuses on creating current and future state value stream maps which, when implemented will decrease the current lead time of manufacturing thereby improving the productivity of industrial shop floor. From their products, the team chose Chaff cutter machine as a product family and worked on them. From the Current Value Stream Map created the lead time for the product is found to be 3 to 3.34 days right from the processing of raw materials till the product is ready to be shipped. From the map created, various stages that contains bottlenecks in production were clearly identified and remedial measures were taken to eliminate those bottlenecks. Various lean tools such as Kaizen Bursts, 5S and other methods to eliminate the wastes were identified and implemented effectively. After remedial measures were adopted the data is tracked again and Future Value Stream Map is drawn. From the map it was clear that the lead time for the product was reduced to a certain extent of up to 4 hours. Therefore our primary goal of the object was achieved by adopting lean techniques and the productivity and efficiency of the organization was increased. G. Saravanan | R. Karthikeyan | S. Mohamed Nasrulla"Productivity Improvement using Lean Manufacturing “ A Case Study at Muththamizh Industries" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-4 , June 2018, URL: http://www.ijtsrd.com/papers/ijtsrd12836.pdf http://www.ijtsrd.com/engineering/mechanical-engineering/12836/productivity-improvement-using-lean-manufacturing--a-case-study-at-muththamizh-industries/g-saravanan
Running head CASE STUDY QUESTIONS 1CASE STUDY QUESTIONS7.docxhealdkathaleen
Running head: CASE STUDY QUESTIONS 1
CASE STUDY QUESTIONS7
Case study questions
Name
Institution
Introduction
The CARE International is known to be a humanitarian organization which offers relief help to regions that are experiencing natural disasters like hurricanes and earthquakes. This paper will focus on answering the case study questions on diverse issues.
1. What were the main challenges encountered by CARE International before they created their warehouse prepositioning model
The challenges faced by CARE international are such as transportation issues, absence of agility, limited aptitude to gather supplies both locally and internationally (Gay, 2015). There is a challenge of the previous means of transportation utilized by vendors which is slow and also very unreliable as well as the cost of relief resources is very high.
2. How does the objective function relate to the organization's need to improve relief services to affected areas?
The objective function need to minimize the time used to respond to natural occurrences as well as transport reliefs to the affected area. The objective function is connected to the need of agency providing shipping relief services to the affected region at minimal response time.
3. Conduct online research and suggest at least three other applications or types of software that could handle the magnitude of variable and constraints CARE International used in their MIP model.
There are three software that can be incorporated to handle constraints Care International utilizes for Mixed-integer programming ideal which are “Mathematical Programming Language (AMPL), Gurobi, and Statistical Analysis System (SAS) (De & Mok, 2016).” These are tools that assist the organization in solving the linear and the quadratic optimization.
4. Elaborate on some benefits CARE International stands to gain from implementing their pre-positioning model on a large scale in future
Warehouse pre-positioning model has some advantages that it offers to CARE International such as they facilitate the delivery relief to the affected region, mostly in the time of the disaster occurrence. This model assist in providing relief in the affected region in relatively short period of time which means that the agency will be in a position to save more lives.
Warehouse pre-positioning model
Figure 1: Warehouse pre-positioning model
Application case
1. Describe the problem that a large company such as HP might face in offering many product lines and options.
One problem they might face is the issue of high cost for introducing new products, designing and manufacturing as well as the issue of supply chain complexity. The institution might face issues such as the unexpected increase in operational expenses, reduction in the forecasting accuracy and increase in the inventory costs.
2. Why is there a possible conflict between marketing and operations?
Yes. Marketing and operation department are the pillars of any organization. How ...
The document discusses Industrial Revolution 4.0 (IR 4.0) and its implications for accounting and businesses. It begins with defining the evolution of industrial revolutions from the 18th century to present day. It then discusses the role of accountants and how their skills will need to adapt to IR 4.0 through seeking knowledge in areas like information technology. The document summarizes 6 journal articles on topics related to opportunities, challenges, and frameworks for assessing readiness for IR 4.0. It emphasizes how IR 4.0 will impact operational efficiency, productivity, and integration across the value chain through technologies like cyber-physical systems, the internet of things, cloud computing and big data.
Determining the Mathematical ROI of a Project Management Office (PMO) Impleme...Ricardo Viana Vargas
The objective of this paper is to present, discuss and apply a mathematical model based on the use of Monte Carlo simulation in conjunction with researches on project success/failure rates of projects to develop a 10 step model to calculate the mathematical return on investment (ROI) for the Project Office implementation.
RESEARCH II Grade Sheet Agency Assessment Paper Part I D.docxverad6
RESEARCH II Grade Sheet
Agency Assessment Paper Part I Description of the Program
Name of Student _________________________________________________
1.An overview of the program (Heading)
2. History of the organization?
3. Mission statement in the organization
4. Organization Structure
5. History of the program within the organization
6. Program’s rationale /
definition. General purpose of the program
7..Social problems addressed by the Program (Explain in full detail with statistics) (Heading)- 1pg.
8.Intervention Methods (Heading)
9. Methods proposed to achieve the
program’s results
10. Theories that underlie the proposed
Interventions
11.Logic within the program in using these
interventions to achieve its goals
12 Describe the length of services
13.Program Funding and Cost –cost per day in hospice in New Jersey.
(Subheadings)
14. Method for Program Funding
(Public, private, state, federal, or
Local money? Public or private
Organization/) This is a private company
15.Characteristics of the staff providing services –(Heading)
16.Professional and non-professional
staff Role and credentials
(What are professional and non-
professional staff background? Are
they trained in the type of
intervention being utilized by the
program? What are the
professionals’ perspectives on
the model of intervention being
utilized?
17.What standardized method is used to
evaluate the staff performance and
client satisfaction? (Provide
SAMPLEs)
Implementation issues –(Heading)
(Subheadings)
18. Successes and Challenges in the program?
19.Do the intervention methods seem
appropriate?
20. Are people coming for services?
21.Are they the types of clients expected to come?
22.Has the amount of outreach work been underestimated and has this delayed program implementation?
Conclusion: The students demonstrate knowledge and skills by writing a summary of the evaluation process. Describe the successes and limitations of the program and the difficulties you encountered in writing this paper? What do they think needs to be changed in order to enhance this program? How would implement these changes? How does this program evaluation paper relate to social work policy, practice and research?
What Constitutes Graduate Level Writing.pdf
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The document outlines the business case for companies to transition to a green economy. It provides numerous examples showing that sustainability strategies can generate positive returns on investment by improving financial metrics. A green economy benefits businesses through more resilient supply chains, new opportunities, increased consumer demand, sales growth, job creation, and reduced resource dependency. However, significant barriers remain such as short-term thinking. The transition requires new skills and innovation. An action plan is provided to help companies anticipate and capitalize on opportunities in the green economy.
This document appears to be a student project on analyzing the financial performance and working capital management of PepsiCo. Limited. It includes an acknowledgements section, table of contents, summary, literature review on working capital management research, profiles of Bharti Airtel and Reliance Communications companies, and introduces the objectives of studying working capital management ratios and components.
Operations Management and TQM is a 3-unit course that explores operations management in manufacturing and service environments. Topics covered include cost accounting, quality management, project management, and materials management. The course is designed to teach students how to apply these concepts to real-world operations. Evaluation includes quizzes, assignments, class participation, and a midterm/final exam. The syllabus also outlines grading policies and expectations for lesson content which will introduce key operations management topics.
IRJET- Implementing Lean Manufacturing Principle in Fabrication Process- A...IRJET Journal
This document summarizes a case study on implementing lean manufacturing principles to reduce cycle time in a fabrication process. It identifies various wastes in the current welding process, including long setup times, waiting times, and defects. Tools like value stream mapping, 5S, and single minute exchange of dies were used to analyze causes of waste and propose improvements. The changes reduced average welding time from 426 to 325 seconds. Control charts show the reduced process is now stable and in control. A return on investment calculation found the changes would save over 140 hours per year and yield a 252% return, showing the lean improvements are feasible and valid.
This document provides information about obtaining help with assignments from an assignment assistance service. It gives a mail ID and phone number to contact for help with MBA assignments. It provides 8 sample questions on various operations management and quality control topics, along with partial or full answers for each question. Students are encouraged to send their semester and specialization details to the mail ID or call the phone number for help with assignments.
Reply to DiscussionsD1 bhuvanaAccounting plays a vital role.docxchris293
Reply to Discussions
D1: bhuvana
Accounting plays a vital role in an organization, which leads to gain favorable profits. Change in activity of production also affects the differences in cost behavior. This behavior is implied as a change in the whole business. Cost may stay the same or replacement depending on the market. In managerial accounting and cost accounting, t three types of cost behavior are most common (("Cost Behavior Patterns", 2020).
Variable costing, fix costing, and mix requiring are types. In variable cost, the cost is directly proportional to the activity, and as the activity increases, the value also increases. And the opposite is too exact (Graybeal, Franklin & Cooper, 2020).
Fixed costs, as the name indicates, are the costs that do not change when the activity is increased or decreased. The price is not affected by the production or any event. Mixed costs are a combination of fixed and variable expenses partially (Lakmal, 2014).
The management team must understand how cost behavior is crucial for planning and controlling the cost of organization activity with an analysis of the damage to volume profit. To design a budget for a business, studying the effects of cost change in the activity level showcases how much profit can be generated (Popesko & Novák, 2014).
Process costing
In process costing, the cost is assigned to the process of manufacturing each unit of production. In this, the price of each unit is assumed to be the same. This type of costing is commonly used where the production of goods takes place at a mass level. The costs are not distinguished easily when it is linked to individual units ("Types of Costs by Behavior", 2020).
Weighted average cost, first in first out, and standard charge are the different types of costing process. In process costing, costs are built over a fixed duration and then are assigned to units of production at a specific time frame ("What Are Cost Behavior Patterns?", 2020).
A company that is owned by Mark and Perk produces the machines in a batch. The setup cost per batch is $2300. $3 is the variable cost A let units for 1-13000. Another variable cost per unit that is more than 13000 is $7. The fixed cost initially js $12000. For every 10,000 units, the cost of the additional fire is $3000. Determine the total cost for the company with the 13,600 units produced in 10 batches.
Total cost= $2300*10+$3*13,600+$12000
=$75800
References
Cost Behavior Patterns. (2020). Retrieved 7 June 2020, from https://saylordotorg.github.io/text_managerial-accounting/s09-01-cost-behavior-patterns.html
Graybeal, P., Franklin, M., & Cooper, D. (2020). Identify and Apply Basic Cost Behavior Patterns. Retrieved 7 June 2020, from https://opentextbc.ca/principlesofaccountingv2openstax/chapter/identify-and-apply-basic-cost-behavior-patterns/
Lakmal, D. (2014). Cost Analysis for Decision Making and Control: Marginal Costing versus Absorption Costing. SSRN Electronic Journal. doi: 10.2139/ssrn.
Running Head; APPLE BALANCED SCORECARD1APPLE BALANCED SCOREC.docxrtodd599
Running Head; APPLE BALANCED SCORECARD1
APPLE BALANCED SCORECARD
The company under observation is Apple that deals in the creation of laptops and smartphone technology in the US, their mission statement is “Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad." This is to mainly show that as a company Apple has a commitment to ensuring that its customers that include students, teachers and program creators globally enjoy the best computing experience through their efficient and effective software and hardware. Their vision statement is “We believe that we are on the face of the earth to make great products and that’s not changing. We are constantly focusing on innovating. We believe in the simple, not the complex. We believe that we need to own and control the primary technologies behind the products that we make and participate only in markets where we can make a significant contribution. We believe in saying no to thousands of projects so that we can really focus on the few that are truly important and meaningful to us. We believe in deep collaboration and cross-pollination of our groups, which allow us to innovate in a way that others cannot. And frankly, we don’t settle for anything less than excellence in every group in the company, and we have the self- honesty to admit when we’re wrong and the courage to change. And I think regardless of who is in what job those values are so embedded in this company that Apple will do extremely well.” This is mainly to indicate the company believes in their capacity to withstand in the long run, through continued success and expansion.
The strategy applied by Apple has focused on differentiation of their products despite continual production on a yearly basis it is the same technology with minimal changes in software and design of the appearance. In this aspect, the iPhone can clearly be used as an example on a yearly basis a new design is released with some changes in the physical appearance yet minimal software differences. As per 2015, the shares of Apple sold made about $233,715, the dividends paid were about $11.4billion at about $0.57 per share. In 2016 there was about $ 213, 000 purchase in shares that resulted in dividends of about $12 billion being paid out by the company.2017 resulted in about $15billion in returns to investors in form of dividends, with an overall $25 billion revenue generated by the company. This indicates an increasing trend from the three years indicated continuously.
The key staff working in Apple are based in the marketing and technical positions, with the company dealing in manufacture of electronic devices there arises need for qualified staff to deal wit.
PPT Writing A Narrative Essay PowerPoint Presentation Free ToAngela Shin
The document discusses the process for requesting an assignment to be written through the website HelpWriting.net. It outlines 5 steps: 1) Create an account with valid email and password. 2) Complete a 10-minute order form providing instructions, sources, and deadline. 3) Review bids from writers and choose one based on qualifications. 4) Receive the paper and authorize payment if pleased. 5) Request revisions until fully satisfied, with a refund option for plagiarized work. The process aims to ensure high-quality, original content that meets the customer's needs.
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The document discusses a 102-year-old time capsule that was discovered in 2017 while workers were taking down a monument in St. Louis. It would have been difficult for people in 1915 to decide what to include in a time capsule, but finding this capsule from that era provides insight into what life was like before modern technology. To capture life in the 2000s for future generations, the document suggests including representations of fashion, technology, and pop culture fads from that time in a new time capsule.
Health Care Essay. Online assignment writing service.Angela Shin
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PDF A Manual For Writers Of Term Papers, Theses, And DAngela Shin
The document discusses Isaac Newton and his formulation of the three laws of motion, with the first sentence providing background on Newton as a physicist, mathematician, and astronomer. It then explains how Newton developed his laws of motion before an infamous apple incident, and that his laws fundamentally changed the field of physical science and our understanding of mechanics.
Writing Topics For Kids Writing Topics, Journal ProAngela Shin
1. The document provides instructions for requesting writing assistance from HelpWriting.net, including creating an account, completing an order form, and reviewing bids from writers.
2. A bidding system is used to match requests with writers, taking into account qualifications, order history, and feedback. Customers can request revisions until satisfied.
3. HelpWriting.net promises original, high-quality content and refunds for plagiarized work, aiming to fully meet customer needs.
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Operations management involves planning, organizing, and overseeing processes that transform inputs into finished goods and services. It is concerned with designing and managing production systems and processes. Key aspects of operations management include productivity measurement, decision-making, and adapting to changes in technology and customer demands over time. Measuring productivity allows managers to assess the efficiency of converting various resources like labor, equipment, materials, and energy into outputs.
A LINEAR PROGRAMMING METHOD TO ENHANCE RESOURCE UTILIZATION CASE OF ETHIOPIAN...Jessica Henderson
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This document discusses strategies for operationalizing global integration. It begins by describing how globally integrated companies focus on repeatable processes, optimized assets, and integrated operations (the R-O-I framework). It then analyzes 20 best practice cases and finds they focus on these three elements to different degrees. Repeatable processes are emphasized most, with a focus on eliminating inefficiencies through standardization and automation. Optimized assets and integrated operations are also important but receive less focus. The document concludes by providing examples of how Toyota optimized effectiveness through standardized processes and Li & Fung eliminated inefficiencies through a flexible global supplier network.
Productivity Improvement using Lean Manufacturing '“ A Case Study at Muththam...ijtsrd
At the present scenario, the Lean Manufacturing has become a worldwide phenomenon. A large number of organizations are following Lean technologies and experiencing vast improvement in quality, production, customer service and profitability. Muththamizh industries in Palani is a manufacturing company that manufactures variety of agricultural oriented machines. In this work to adopt the Lean manufacturing concept in this industry by using Value Stream Mapping (VSM) technique and to reduce the wastes such as long lead time, defects, material waste etc. Our project focuses on creating current and future state value stream maps which, when implemented will decrease the current lead time of manufacturing thereby improving the productivity of industrial shop floor. From their products, the team chose Chaff cutter machine as a product family and worked on them. From the Current Value Stream Map created the lead time for the product is found to be 3 to 3.34 days right from the processing of raw materials till the product is ready to be shipped. From the map created, various stages that contains bottlenecks in production were clearly identified and remedial measures were taken to eliminate those bottlenecks. Various lean tools such as Kaizen Bursts, 5S and other methods to eliminate the wastes were identified and implemented effectively. After remedial measures were adopted the data is tracked again and Future Value Stream Map is drawn. From the map it was clear that the lead time for the product was reduced to a certain extent of up to 4 hours. Therefore our primary goal of the object was achieved by adopting lean techniques and the productivity and efficiency of the organization was increased. G. Saravanan | R. Karthikeyan | S. Mohamed Nasrulla"Productivity Improvement using Lean Manufacturing “ A Case Study at Muththamizh Industries" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-4 , June 2018, URL: http://www.ijtsrd.com/papers/ijtsrd12836.pdf http://www.ijtsrd.com/engineering/mechanical-engineering/12836/productivity-improvement-using-lean-manufacturing--a-case-study-at-muththamizh-industries/g-saravanan
Running head CASE STUDY QUESTIONS 1CASE STUDY QUESTIONS7.docxhealdkathaleen
Running head: CASE STUDY QUESTIONS 1
CASE STUDY QUESTIONS7
Case study questions
Name
Institution
Introduction
The CARE International is known to be a humanitarian organization which offers relief help to regions that are experiencing natural disasters like hurricanes and earthquakes. This paper will focus on answering the case study questions on diverse issues.
1. What were the main challenges encountered by CARE International before they created their warehouse prepositioning model
The challenges faced by CARE international are such as transportation issues, absence of agility, limited aptitude to gather supplies both locally and internationally (Gay, 2015). There is a challenge of the previous means of transportation utilized by vendors which is slow and also very unreliable as well as the cost of relief resources is very high.
2. How does the objective function relate to the organization's need to improve relief services to affected areas?
The objective function need to minimize the time used to respond to natural occurrences as well as transport reliefs to the affected area. The objective function is connected to the need of agency providing shipping relief services to the affected region at minimal response time.
3. Conduct online research and suggest at least three other applications or types of software that could handle the magnitude of variable and constraints CARE International used in their MIP model.
There are three software that can be incorporated to handle constraints Care International utilizes for Mixed-integer programming ideal which are “Mathematical Programming Language (AMPL), Gurobi, and Statistical Analysis System (SAS) (De & Mok, 2016).” These are tools that assist the organization in solving the linear and the quadratic optimization.
4. Elaborate on some benefits CARE International stands to gain from implementing their pre-positioning model on a large scale in future
Warehouse pre-positioning model has some advantages that it offers to CARE International such as they facilitate the delivery relief to the affected region, mostly in the time of the disaster occurrence. This model assist in providing relief in the affected region in relatively short period of time which means that the agency will be in a position to save more lives.
Warehouse pre-positioning model
Figure 1: Warehouse pre-positioning model
Application case
1. Describe the problem that a large company such as HP might face in offering many product lines and options.
One problem they might face is the issue of high cost for introducing new products, designing and manufacturing as well as the issue of supply chain complexity. The institution might face issues such as the unexpected increase in operational expenses, reduction in the forecasting accuracy and increase in the inventory costs.
2. Why is there a possible conflict between marketing and operations?
Yes. Marketing and operation department are the pillars of any organization. How ...
The document discusses Industrial Revolution 4.0 (IR 4.0) and its implications for accounting and businesses. It begins with defining the evolution of industrial revolutions from the 18th century to present day. It then discusses the role of accountants and how their skills will need to adapt to IR 4.0 through seeking knowledge in areas like information technology. The document summarizes 6 journal articles on topics related to opportunities, challenges, and frameworks for assessing readiness for IR 4.0. It emphasizes how IR 4.0 will impact operational efficiency, productivity, and integration across the value chain through technologies like cyber-physical systems, the internet of things, cloud computing and big data.
Determining the Mathematical ROI of a Project Management Office (PMO) Impleme...Ricardo Viana Vargas
The objective of this paper is to present, discuss and apply a mathematical model based on the use of Monte Carlo simulation in conjunction with researches on project success/failure rates of projects to develop a 10 step model to calculate the mathematical return on investment (ROI) for the Project Office implementation.
RESEARCH II Grade Sheet Agency Assessment Paper Part I D.docxverad6
RESEARCH II Grade Sheet
Agency Assessment Paper Part I Description of the Program
Name of Student _________________________________________________
1.An overview of the program (Heading)
2. History of the organization?
3. Mission statement in the organization
4. Organization Structure
5. History of the program within the organization
6. Program’s rationale /
definition. General purpose of the program
7..Social problems addressed by the Program (Explain in full detail with statistics) (Heading)- 1pg.
8.Intervention Methods (Heading)
9. Methods proposed to achieve the
program’s results
10. Theories that underlie the proposed
Interventions
11.Logic within the program in using these
interventions to achieve its goals
12 Describe the length of services
13.Program Funding and Cost –cost per day in hospice in New Jersey.
(Subheadings)
14. Method for Program Funding
(Public, private, state, federal, or
Local money? Public or private
Organization/) This is a private company
15.Characteristics of the staff providing services –(Heading)
16.Professional and non-professional
staff Role and credentials
(What are professional and non-
professional staff background? Are
they trained in the type of
intervention being utilized by the
program? What are the
professionals’ perspectives on
the model of intervention being
utilized?
17.What standardized method is used to
evaluate the staff performance and
client satisfaction? (Provide
SAMPLEs)
Implementation issues –(Heading)
(Subheadings)
18. Successes and Challenges in the program?
19.Do the intervention methods seem
appropriate?
20. Are people coming for services?
21.Are they the types of clients expected to come?
22.Has the amount of outreach work been underestimated and has this delayed program implementation?
Conclusion: The students demonstrate knowledge and skills by writing a summary of the evaluation process. Describe the successes and limitations of the program and the difficulties you encountered in writing this paper? What do they think needs to be changed in order to enhance this program? How would implement these changes? How does this program evaluation paper relate to social work policy, practice and research?
What Constitutes Graduate Level Writing.pdf
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The document outlines the business case for companies to transition to a green economy. It provides numerous examples showing that sustainability strategies can generate positive returns on investment by improving financial metrics. A green economy benefits businesses through more resilient supply chains, new opportunities, increased consumer demand, sales growth, job creation, and reduced resource dependency. However, significant barriers remain such as short-term thinking. The transition requires new skills and innovation. An action plan is provided to help companies anticipate and capitalize on opportunities in the green economy.
This document appears to be a student project on analyzing the financial performance and working capital management of PepsiCo. Limited. It includes an acknowledgements section, table of contents, summary, literature review on working capital management research, profiles of Bharti Airtel and Reliance Communications companies, and introduces the objectives of studying working capital management ratios and components.
Operations Management and TQM is a 3-unit course that explores operations management in manufacturing and service environments. Topics covered include cost accounting, quality management, project management, and materials management. The course is designed to teach students how to apply these concepts to real-world operations. Evaluation includes quizzes, assignments, class participation, and a midterm/final exam. The syllabus also outlines grading policies and expectations for lesson content which will introduce key operations management topics.
IRJET- Implementing Lean Manufacturing Principle in Fabrication Process- A...IRJET Journal
This document summarizes a case study on implementing lean manufacturing principles to reduce cycle time in a fabrication process. It identifies various wastes in the current welding process, including long setup times, waiting times, and defects. Tools like value stream mapping, 5S, and single minute exchange of dies were used to analyze causes of waste and propose improvements. The changes reduced average welding time from 426 to 325 seconds. Control charts show the reduced process is now stable and in control. A return on investment calculation found the changes would save over 140 hours per year and yield a 252% return, showing the lean improvements are feasible and valid.
This document provides information about obtaining help with assignments from an assignment assistance service. It gives a mail ID and phone number to contact for help with MBA assignments. It provides 8 sample questions on various operations management and quality control topics, along with partial or full answers for each question. Students are encouraged to send their semester and specialization details to the mail ID or call the phone number for help with assignments.
Reply to DiscussionsD1 bhuvanaAccounting plays a vital role.docxchris293
Reply to Discussions
D1: bhuvana
Accounting plays a vital role in an organization, which leads to gain favorable profits. Change in activity of production also affects the differences in cost behavior. This behavior is implied as a change in the whole business. Cost may stay the same or replacement depending on the market. In managerial accounting and cost accounting, t three types of cost behavior are most common (("Cost Behavior Patterns", 2020).
Variable costing, fix costing, and mix requiring are types. In variable cost, the cost is directly proportional to the activity, and as the activity increases, the value also increases. And the opposite is too exact (Graybeal, Franklin & Cooper, 2020).
Fixed costs, as the name indicates, are the costs that do not change when the activity is increased or decreased. The price is not affected by the production or any event. Mixed costs are a combination of fixed and variable expenses partially (Lakmal, 2014).
The management team must understand how cost behavior is crucial for planning and controlling the cost of organization activity with an analysis of the damage to volume profit. To design a budget for a business, studying the effects of cost change in the activity level showcases how much profit can be generated (Popesko & Novák, 2014).
Process costing
In process costing, the cost is assigned to the process of manufacturing each unit of production. In this, the price of each unit is assumed to be the same. This type of costing is commonly used where the production of goods takes place at a mass level. The costs are not distinguished easily when it is linked to individual units ("Types of Costs by Behavior", 2020).
Weighted average cost, first in first out, and standard charge are the different types of costing process. In process costing, costs are built over a fixed duration and then are assigned to units of production at a specific time frame ("What Are Cost Behavior Patterns?", 2020).
A company that is owned by Mark and Perk produces the machines in a batch. The setup cost per batch is $2300. $3 is the variable cost A let units for 1-13000. Another variable cost per unit that is more than 13000 is $7. The fixed cost initially js $12000. For every 10,000 units, the cost of the additional fire is $3000. Determine the total cost for the company with the 13,600 units produced in 10 batches.
Total cost= $2300*10+$3*13,600+$12000
=$75800
References
Cost Behavior Patterns. (2020). Retrieved 7 June 2020, from https://saylordotorg.github.io/text_managerial-accounting/s09-01-cost-behavior-patterns.html
Graybeal, P., Franklin, M., & Cooper, D. (2020). Identify and Apply Basic Cost Behavior Patterns. Retrieved 7 June 2020, from https://opentextbc.ca/principlesofaccountingv2openstax/chapter/identify-and-apply-basic-cost-behavior-patterns/
Lakmal, D. (2014). Cost Analysis for Decision Making and Control: Marginal Costing versus Absorption Costing. SSRN Electronic Journal. doi: 10.2139/ssrn.
Running Head; APPLE BALANCED SCORECARD1APPLE BALANCED SCOREC.docxrtodd599
Running Head; APPLE BALANCED SCORECARD1
APPLE BALANCED SCORECARD
The company under observation is Apple that deals in the creation of laptops and smartphone technology in the US, their mission statement is “Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad." This is to mainly show that as a company Apple has a commitment to ensuring that its customers that include students, teachers and program creators globally enjoy the best computing experience through their efficient and effective software and hardware. Their vision statement is “We believe that we are on the face of the earth to make great products and that’s not changing. We are constantly focusing on innovating. We believe in the simple, not the complex. We believe that we need to own and control the primary technologies behind the products that we make and participate only in markets where we can make a significant contribution. We believe in saying no to thousands of projects so that we can really focus on the few that are truly important and meaningful to us. We believe in deep collaboration and cross-pollination of our groups, which allow us to innovate in a way that others cannot. And frankly, we don’t settle for anything less than excellence in every group in the company, and we have the self- honesty to admit when we’re wrong and the courage to change. And I think regardless of who is in what job those values are so embedded in this company that Apple will do extremely well.” This is mainly to indicate the company believes in their capacity to withstand in the long run, through continued success and expansion.
The strategy applied by Apple has focused on differentiation of their products despite continual production on a yearly basis it is the same technology with minimal changes in software and design of the appearance. In this aspect, the iPhone can clearly be used as an example on a yearly basis a new design is released with some changes in the physical appearance yet minimal software differences. As per 2015, the shares of Apple sold made about $233,715, the dividends paid were about $11.4billion at about $0.57 per share. In 2016 there was about $ 213, 000 purchase in shares that resulted in dividends of about $12 billion being paid out by the company.2017 resulted in about $15billion in returns to investors in form of dividends, with an overall $25 billion revenue generated by the company. This indicates an increasing trend from the three years indicated continuously.
The key staff working in Apple are based in the marketing and technical positions, with the company dealing in manufacture of electronic devices there arises need for qualified staff to deal wit.
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Analysis on A s Laundry Shop A Profit Maximization Approach.pdf
1. ANALYSIS ON A’S LAUNDRY SHOP: A PROFIT MAXIMIZATION APPROACH
Laureta, Rutchiel D.
Morales, Dianne D.
Ricalde, Ruby Grace J.
Bachelor of Science in Agribusiness Economics
University of the Philippines
Mindanao
December 2014
1
A research paper submitted in partial fulfillment of the requirements in Economics 130 –
Elements of Mathematical Economics, under the advisory of Mr. Jon Marx Sarmiento, First
Semester, A.Y. 2014-2015.
2. 2 | P a g e
TABLE OF CONTENTS
I. TITLE PAGE
II. ABSTRACT
III. TABLE OF CONTENTS
IV. INTRODUCTION
i. Background of the Study
ii. Significance of the Study
iii. Objectives
iv. Scopes and Limitation
V. METHODOLOGY
i. Data Source
ii. Data Analysis
VI. RESULTS AND DISCUSSION
i. Data Modeling
ii. Profit Maximization
iii. Hessian Matrix
VII. SUMMARY AND CONCLUSION
VIII. RECOMMENDATION
IX. APPENDIX
X. REFERENCE
3. 3 | P a g e
ABSTRACT
Laundry is one of the biggest contributors of service in the Philippines, comprising 6%
of the sector. This type of business has been sprouting out in Davao City, even in the far flung
area of Mintal. A quantitative and qualitative analysis was done on one of the laundry shops
located in the heart of Mintal, which is A’s Laundry Shop. This study aims to find out the
maximum profit, to identify the best combination of the amount of labor and capital to produce
maximum profit, to determine the maximum number of kilograms to be washed per month that
would maximize the profit and to provide recommendation to the owners. Data was gathered
through an interview and were organized through Microsoft Excel and were run through Gretl
and Lingo. Results showed that A’s Laundry Shop can attain their maximum profit of Php38,
694.31 in present time by inputting Php13,978.71 of capital and Php5,626.773 of labor per
month. This combination of inputs can generate an output of 2914.989454 kilos of laundry.
A’s Laundry Shop should also hire an average of 1.35 or 1 to 2 laborers per day in order to
attain the maximum profit. These number of laborers were already being practiced by the firm.
Thus, there’s no need to hire additional workers. Moreover, A’s Laundry Shop must reach
and/or limit their amount of input in Php13, 978.71 every month to attain the maximum profit.
The researchers conducted SWOT analysis to recommend the best strategies. A’s Laundry
Shop should expand the business, invest in technological resources, conduct advertisements
and be open and ready to entertain vast external orders from households.
4. 4 | P a g e
I. INTRODUCTION
i. Background of the Study
The Philippines is a country known to provide services rather than manufactured
goods. In fact, services sector is the one that drives our economy. The share of the service
sector in GDP has exceeded that of the industry sector since the mid-1980s growing from
36% to 55% in 2010, and the sector’s share in total employment increased from 40% in
1990 to 52% in 2010. The service sector share of GDP has continued to increase in recent
years. It rose from 54.1% in 2006 to 57.1% in 2012 as shown in Table 1 (Asian
Development Bank, 2013).
5. 5 | P a g e
One of the most common providers of services in the country is the laundry services.
In fact, it provides 6.0% of the total employment in the sector, which is a significant
percentage. The data is shown in Figure 1.
Fig.1. Percent Distribution of Employment by Industry Group by year 2010.
Source: Annual Survey Philippine Business and Industry (ASBPI) and Other Service Activities NSO, 2012
Seeing that the laundry service is significant in the Philippine setting, this type of
businesses has been sprouting out in Davao City. Even in the far flung area of Mintal, a number
of laundry shops can be seen. Mintal is also seen as a strategic place for this business since it
houses many schools, including the University of the Philippines Mindanao. Since most of the
students cannot go home nor have the time to wash their own clothes, this proves to be a
profitable business. The profitability of this business is dependent on the cost of inputs used,
which include detergent powder, detergent bar, fabric conditioner, energy and water bills. A’s
Laundry Shop is one of the places that students go to have their clothes washed. As requested
by the owners, the researchers kept the name of the shop confidential. Located at a strategic
place in Mintal, it is accessible to people, may it be students, homeowners, workers, etc.
6. 6 | P a g e
ii. Objectives
A. To model the Cobb-Douglas Production Function of A’s Laundry Shop;
B. To identify the best combination of amount of labor and capital to produce
maximum profit;
C. To determine the maximum number of kilograms washed per month that
would maximize the profit; and
D. To provide recommendations to the owner.
iii. Significance of the Study
This study wants to assess the performance of A’s Laundry Shop by using profit
maximization approach and to provide the optimal utilization of the factors that affect
their production to somehow maximize their profit. Results of this study would help the
owner to implement actions and decisions to utilize their capital and to know the
number of laborers that they should hire.
iv. Scope and Limitations
The study is focused only on the operation, specifically the cost and production
of A’s Laundry Shop. The researchers only considered capital and labor as the factors
for quantity produced. Moreover, this study assumes that all the laundry washed were
colored type cloths that amounts Php20 per kilo, not accounting the white type ones
that costs higher.
7. 7 | P a g e
II. METHODOLOGY
Concepts that were incorporated in the analysis of the data gathered were
identified in this section to support the objectives of the research study.
i. Data Source
This study provides a quantitative and qualitative analysis of the A’s Laundry
Shop located at Mintal, Davao City. The researchers saw a great potential to conduct a
profit maximization analysis because of its competitive advantage in terms of being the
leading and long standing laundry shop with a highly recommended quality finished
products.
Data were gathered through an interview with the owners. Start-up capital, as
well as the total revenue, net profit, total labor expenses and operating expenses, were
accessed and retrieved on a monthly basis starting January 2011 to Sept 2014. (See
Appendix)
ii. Data Analysis
To further comprehend the data collected, the researchers used different
analytical solutions, models and software such as:
Microsoft Excel
Data collected were encoded in Excel. It is an electronic program that can be
used for storing, organizing and tabulating data. It is a software that uses spreadsheet
system broken up by rows and columns allowing users to organize, format, and
calculate data with formulas (businesssdictionary.com).
Cobb-Douglas Production Function
This production function is used to identify the model of production. It is used
to understand the relationship of output to inputs. It is considered a simplified view of
the economy in which production output is determined by the amount of labor involved
and the amount of capital invested, holding other factors constant.
8. 8 | P a g e
Gretl (GNU Regression, Econometrics and Time-series Library)
It is a software that deals with any macroeconomic time series. It is used to
regress the data collected in order to obtain the correct model to be used.
Lingo Programming
LINGO is a comprehensive tool designed to build and solve Linear, Nonlinear
(convex & nonconvex/Global), Quadratic, Quadratically Constrained, Second Order
Cone, Stochastic, and Integer optimization models faster, easier and more efficient.
LINGO provides a completely integrated package that includes a powerful language
for expressing optimization models, a full featured environment for building and editing
problems, and a set of fast built-in solvers. (LINDOSystemsInc.). It is used to compute
for the maximum profit and the maximum amount of labor and capital.
Hessian Matrix
Hessian is a square matrix of second-order partial derivatives of a function. It
describes the local curvature of a function of many variables. It is used to check if the
function is maximizing or minimizing.
SWOT Analysis
This is used to evaluate the strengths, weaknesses, opportunities and threats,
and also to provide strategies to the firm. Through this, the internal and external factors
that are favorable and unfavorable to achieve the firm’s objective are identified.
9. 9 | P a g e
III. RESULTS AND DISCUSSION
i. Data Modeling
Data that were gathered (See appendix 1) were run through the software Gretl
to determine the exponents to be used in constructing the Cobb-Douglas production
function.
10. 10 | P a g e
The obtained coefficients for K and L were substituted as the exponents of the
production function.
= �� � �
= �− . . .
ii. Profit Maximization
Objective function: �� � = − +
= �− . . .
Constraint: . . ≥ ; ≥
The variable p denotes price per kilo, which is Php20; q for output per kilo which is
denoted by the Cobb-Douglas production function; K for capital; and L for labor.
The values of p and q are substituted to the objective function:
�� � = [�− . . .
] − +
�� � = [�− . . .
] − +
�� � = . . .
] − +
After substitution, the values of the objective function, constraint and the budget (which
is Php19605.48 – highest monthly total expenses; refer to Appendix) were then run through
Lingo for computation for the maximum profit.
11. 11 | P a g e
Results:
*K= 13,978.71 (pesos)
*L= 5,626.773 (pesos)
Π = 38, 712.34 (pesos)
iii. Hessian Matrix
To prove that the function is a maximum, the second-order partial and cross-
order derivatives were computed to come up with the Hessian Matrix.
First Order Derivatives
Lk (K,L)= . . . − .
]
= 3.860634093 K-0.287384 .
LL(K,L) = . . . . −
= 1.559291833 . − .
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Second-Order Derivatives:
LKK (K,L)= 3.860634093(-0.287384)K-0.287384-1
L0.287384
= -1.109484468K-1.287384
L 0.287384
LLL (K,L)= 1.559291833 (-0.71261216)K0.712616
L -1.712621
= -1.1111 K0.712616
L -1.712621
Cross-partial Derivatives:
LKL (K,L)= 3.860634093(0.287384) K - 0.287384
L -0.712616
=1.11K- 0.287384
L -0.712616
LLK (K,L)= 1.559291833(0.712616) K - 0.287384
L -0.7121616
=1.11K- 0.287384
L -0.171216
Substituting the values of K and L
*K= 13,978.71
*L= 5,626.773
Lkk (K,L)= -1.109484468K-1.287384
L 0.287384
= -6.11 x 10-5
LLL (K,L)= -1.1111K0.712616
L -1.712621
= -3.78 x 10-4
LKL (K,L)= 1.11 (13,978.71) - 0.287384
(5,626.773) -0.171216
= 0.016
LLK (K,L)= 1.11 (13,978.71) - 0.287384
(5,626.773) -0.171216
=0.016
13. 13 | P a g e
Hessian Matrix:
-6.11 x 10-5
0.016
0.016 -3.78 x 10-4
The matrix is negative definitive, therefore, (*K,*L) is a local maximizer.
Output function:
= �− . . .
= �− .
. .
. .
q*= 2914.989454 kilos
Average number of laborers: Total Cost (TC):
L = L* / (daily wage x labor days) TC = K* + L*
L = 5,626.773 / Php160 x 26 TC = (13,978.71 + 5,626.773)
L = 1.35 man per day Total Cost = 19605
Total Revenue (TR): Maximum Profit (π):
TR = (p) (q*) Π = TR - TC
TR = (20) (2914.989454) Π = 58299.78908 -19605
Total Revenue = 58299.78908 Maximum Profit = 38694.30608
As seen on the Appendix, the firm has exceeded its maximum profit on August 2011,
which is Php39214.28; January 2012, which is Php40427.93; and February 2012,
Php39626.65. But due to new entrants and seasonal changes, profit has not been constant. In
fact, it has been continuously decreasing in 2014. The average of the firm’s monthly profit is
Php23067.44. It is only 59.61% of the maximum profit.
14. 14 | P a g e
IV. SUMMARY AND CONCLUSION
A’s Laundry Shop is indeed economically stable from establishment up until now. In
fact they have get back their start-up capital (50,000.00) the next month of operation with a net
income of Php54, 704.40 right after they’ve started (See Appendix). But then, their sales and
gross income goes in a fluctuating trend with an extreme decline on months with no class.
Thus, remedial measures should be done for sales improvement and find the best way to
maximize profit.
That problem is addressed by the results of this study which suggests that A’s Laundry
Shop can attain their maximum profit in present time by inputting Php13,978.71 of capital (K*)
and Php5,626.773 of labor (L*) per month. This combination of inputs can generate an output
(*q) of 2914.989454 kilos. These values were obtained using the Lingo software. According
to the owners, the number of laborers per day is not constant and are paid daily by Php160.
There are days that there is only one laborer and the other days with two. Thus, to determine
the number of laborers to be hired per day, the amount for labor, which is Php5626.773 is
divided by 4160 (Php160 times 26 labor days). In result, A’s Laundry Shop should hire an
average of 1.35 man per day in order to attain the maximum profit. Meaning, there are days
that there must be only one laborer, and there must be two laborers on the other days. These
number of laborers were already being practiced by the firm. Thus, there’s no need to hire
additional worker. On the other hand, A’s Laundry Shop must invest on Php13, 978.71 amount
of capital. Based on the data gathered (Appendix), the firm’s lowest input in capital was on
June 2014 which is Php1, 190.00 and the highest was on March 2012, which is Php14, 805.48,
that exceeded the required capital. This implies that they must reach and/or limit their input on
the required capital every month to attain maximum profit of Php38, 694.31.
15. 15 | P a g e
V. RECOMMENDATION
To further analyze and give more effective recommendation, the researchers also
conducted a qualitative study on the firm through SWOT analysis.
SWOT ANALYSIS:
STRENGTHS
S1- Years in Business
Throughout the years A’s Laundry Shoppe had established a reputation and reached
stability already . Thus, students from nearby campuses became reliant patrons of the business.
S2-Quality Products
Quality check and careful inspection is done by the the owner based on its standard
checklist before it is returned to the owner. Unqualified products are sorted and are subject to
undergo the cleaning process again befor being given to costumers.
S3-On time date
Owners are buiness conscious. Thus, on time availability of finished laundries are
strictly complied for a minimum of 2 days and a maximum of 5 days in peak season.
S4-Special offers
Special requests are granted but with corresponding amount such as rush orders.
S5-Strategic Location
The business is located at the heart of barangay. Students who went out for dinners on
restos nearby, get money from pawnshop, do grocery and hang out downtown, find it easy to
drop their laundries by the shop.
S6-Home-based
It is situated at the house of the owners. Thus, extra cost for rent (which usually is the
biggest expenditure for some business) is not a problem.
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S7-Hands on owners
With the business right in front of their eyes, the owners’ attention, time and
sorroundings are mainly focused on the business. They even work hand in hand with their
employees.
S8-Minimum Requirement
The shop has a minimum-of-3-kilos rule wherein the costumers are reminded to submit
3 kilos or more of laundry. Nonetheless, if their clothings do not reach or exceed 3 kilos, they
are required to pay the price of a 3 kilo even so.
WEAKNESS
W1-Limited machineries
Available washing machines and driers can be counted barely by hands. Thus, making
operations slower specially during peak and rainy season respectively.
OPPORTUNITIES
O1-Expansion
Economic stability of the business makes it viable for expansion or extension. In fact,
there were offers asking them to branch out and extend their services to nearby communities.
O2-Academic Calendar Shift
UP Mindanao, wherein most of their student patrons study, recently undergo an
Academic Calendar shift which is an advantage to shop. It is due to the savings in electricity
in terms of drying wet clothes using driers in rainy seasons. Also, summer, which is supposedly
the lowest earning point of the shop, is now unvacated due to the students’ ongoing class on
April and May.
THREAT
T1-New Entrants
Due to the laundry service potential, new entrants are enticed to join the industry and
venture the said business. Thus, number of competitors is constantly rising and the students
has now lots of choice where to avail laundry service.
17. 17 | P a g e
Opportunities Threat
SWOT MATRIX O1 – Expansion T1 - New Entrants
O2 - Academic Calendar Shift
Strengths SXO Strategies SXT Strategies
(S1*S2*S3*S4*S5*S6*S7*S8*O1*O2) (S1*S4*S5*T1)
S1 - Years in business - Expand Operations - Advertising enhancement
S2 - Quality Products - Venture branching out - Branching
S3 - On time date - Further develop the business center - Self-expansion
S4 - Special Offers
S5 - Strategic Location
S6 - Home based
S7 - Hands on owners
S8 - Maximum kilo
requirement
Weakness WXO Strategies WXT Strategies
(W1*O1) (W1*T1)
- Adding more machineries - Add more machineries
W1 - Limited machineries (W2*T1)
- Operational Advancement
The researchers recommend that the best strategy to implement is to expand the
business through building branches nearby such as dormitories and boarding houses wherein
target market, like students, reside. At the same time, advancement on the procedures needs to
be done through investing in technological resources to improve their operations and gain a
large advantage over existing competitors and new entrants.
Moreover, during no class months, advertisement should be given importance
especially unto non-students. Also, they should now be open and ready to entertain vast
external orders from households and if possible to big time entities nearby.
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VI. APPENDIX
Raw Data:
Legend:
Green – highest total expenses Yellow - profit that exceeded the maximum profit
Blue – highest capital expense Violet – lowest capital expense
January – December 2011
Month Gross Revenue Quantity
Capital
Expense Labor Expense Total Expense Net Profit
January 39038 1951.9 7219.1 5294.76 12019.1 27018.9
February 40701 2035.05 8215.5 5733.7 13015.5 27685.5
March 44490 2224.5 8877.55 6025.35 13677.55 30812.45
April 20032 1001.6 4110.15 3925.18 8910.15 11121.85
May 21058 1052.9 2813.45 3353.94 7613.45 13444.55
June 37305 1865.25 8260.4 5753.48 13060.4 24244.6
July 54581 2729.05 12336.14 7548.96 17136.14 37444.86
August 55581 2779.05 11566.72 7210.01 16366.72 39214.28
September 47621 2381.05 10135.01 3200 14935.01 32685.99
October 32383 1619.15 7712.44 4300 12512.44 19870.56
November 37929 1896.45 8321.8 3600 13121.8 24807.2
December 43242 2162.1 11550.5 4800 16350.5 26891.5
January – December 2012
Month Gross Revenue Quantity
Capital
Expense Labor Expense Total Expense Net Profit
January 57296 2864.8 12068.07 7430.87 16868.07 40427.93
February 56947 2847.35 12520.35 7630.11 17320.35 39626.65
March 58266 2913.3 14805.48 8636.78 19605.48 38660.52
April 20524 1026.2 2179.03 3074.46 6979.03 13544.97
May 20699 1034.95 2145.43 3059.66 6945.43 13753.57
June 42709 2135.45 9577.47 6333.69 14377.47 28331.53
July 46150 2307.5 10868.7 6902.51 15668.7 30490.3
August 44366 2218.3 10480.98 6731.71 15280.98 29085.02
September 50021 2501.05 11056.05 6985.04 15856.05 34164.95
October 33260 1663 7594.7 5460.22 12394.7 20865.3
November 36136 1806.8 7874.68 5583.56 12674.68 23461.32
December 45395 2269.75 9671.05 6374.91 14471.05 30923.95
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January – December 2013
Month Gross Revenue Quantity
Capital
Expense Labor Expense Total Expense Net Profit
January 42418 2120.9 9456.74 6280.5 14256.74 28161.26
February 45955 2297.75 11439 7153.74 16239 29716
March 45693 2284.65 10319 6660.35 15119 30574
April 19045 952.25 4637.96 4157.69 9437.96 9607.04
May 18985 949.25 4173.47 3953.07 8973.47 10011.53
June 34325 1716.25 7725.37 5400 12525.37 21799.63
July 48465 2423.25 13085.58 8640 17885.58 30579.42
August 42395 2119.75 11322.35 7570 16122.35 26272.65
September 44700 2235 11508.63 7700 16308.63 28391.37
October 31435 1571.75 8299.77 5750 13099.77 18335.23
November 33035 1651.75 7235.87 5110 12035.87 20999.13
December 38405 1920.25 12987.32 6330 17787.32 20617.68
January – September 2014
Month Gross Revenue Quantity
Capital
Expense Labor Expense Total Expense Net Profit
January 41730 13773.65 5900 7873.65 13773.65 13773.65
February 40705 14918.82 6840 8078.82 14918.82 14918.82
March 45680 15805.34 7630 8175.34 15805.34 15805.34
April 26920 12599.54 4230 8369.54 12599.54 12599.54
May 23075 8545.13 2720 5825.13 8545.13 8545.13
June 17210 5701.09 1190 4511.09 5701.09 5701.09
July 27565 7093.13 5100 1993.13 7093.13 7093.13
August 37935 12515.9 5270 7245.9 12515.9 12515.9
September 43780 13439.18 4930 8509.18 13439.18 13439.18
Average:
Gross Revenue Quantity
Capital
Expense Labor Expense Total Expense Net Profit
38559.68889 3909.357333 8176.929111 6005.245111 13363.19089 23067.44378
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VII. REFERENCE
Government Website Phils. “Annual Survey Philippine Business and Industry (ASBPI)
and Other Service Activities 2010”. URL : http://web0.psa.gov.ph/content/, Retrieved
December 2014