Premium Essay

Yankee Fork Matrix

In: Business and Management

Submitted By evanskorshemia
Words 725
Pages 3
Step 1: Identify the problem(s) and uncertainties.
What exactly is the problem… Customers (Sears & True Value Hardware) have been complaining about late shipments.Unreliable forecasting for Padreto items (i.e. Bow Rake) |

The problem is this … The production department do not know how marketing is coming up with their forecasts.There are usually shortages toward the end of the yearForecasts are done by the month for the following yearForecasts are usually reduced by at least 10 percent or more by Phil due to price of steelProduction feel that the forecasts are overinflated compared to the actual customer demandMarketing’s technique for forecasting is based on actual shipments and not the actual demand.Forecast are done based on a judgmental basis instead of using quantitative methodsCost for the company need to be reduced and inventory levels need to be accurate |

This is an important problem because… New sales will not be acquired, it will become hard to retain loyal customers, thus net income will be lower than where it could be. |

The key question(s) that needs to be answered to solve this problem is… What method of inventory should be usedWho should do the forecastingHow can Yankee Fork increase profits while decreasing cost while ensuring that the company has the adequate amount of inventoryWhat inventory should Yankee Fork promote and when should it be promotedHow can Yankee Fork become more competitive |

Step 2: Obtain information.
The following information is needed to answer this question… Interview Phil Stanton (ask him about delivery service use, machinery usage, and the accuracy of the inventory)Interview Ron (ask him about regional sales, promotions and non-adjusted items) Observe the production layoutNeed to find out what promotions are being run and how often and which location are they being run.Yankee Fork need to find…...

Similar Documents

Free Essay

The Matrix

...| DHO af The Matrix Indholdsfortegnelse Forside… Side 1 Indholdsfortegnelse… Side 2 Indledning… Side 3 Problemformulering… Side 3 Analyse og fortolkning… * Hvad er The Matrix? Side 3 * Hvordan bliver Neo karakteriseret i filmen? Side 4-5 * Hvordan kan filmen The Matrix sammenlignes med René Decartes første meditation? Side 6-7 * Hvordan kan filmen perspektiveres til religioner verden rundt, med fokus på DNT? Side 7-9 Konklusion… Side 9 Litteraturliste… Side 9 Indledning I denne opgave har jeg valgt at udføre en analyse og fortolkning, af filmen The Matrix. Filmen blev skrevet og instrueret af Andy og Larry Wachowski, og blev vist på lærredet for første gang d. 7 maj 1999. The Matrix er uden tvivl en af de mest succesfulde film nogensinde. Ifølge imdb.com, så har den tjent hele $203,600,000 alene i 1999, derudover vandt den 4 oscars, blandt andet for bedste redigering og lyd. Det der blandt andet gjorde filmen så populær, var de banebrydende effekter og den nyere fortælling af Det Nye Testamente. Filmen blev så populær, at ”Matrix” var et af de mest søgte ord på internettet i 1999. Jeg vil i denne opgave undersøge nærmere, hvordan Wachowski brødrene har brugt religiøse, såvel som filosofiske værker til at skrive denne film. Problemformulering I denne opgave vil jeg udføre en analyse og fortolkning af filmen ”The Matrix”. * Hvad er The Matrix? * Hvordan bliver Neo karakteriseret i filmen? * Hvordan......

Words: 2639 - Pages: 11

Free Essay

Visual Argument: Yankee Stadium

...The New Yankee Stadium: A Visual Analysis When walking into Gate 4 of the new Yankee Stadium, a true fan of the blue and white pin strips experiences déjà vu. When building the new stadium the architects designed the new Gate 4 to mirror the Gate 4 of the old stadium right next door. When the initial design plans began, the organization had to think about not only the history of the team, but also how the die-hard fans would react when first walk into the stadium. Including mirroring the old stadium, the outside walls of the new stadium closely resembled the old stadium as well. When you first step into the new facility every idea that you had about what it was going to be like was destroyed except for the field itself. There is a much heavier emphasis on taking a more modern approach when they thought about the design. Everything from food vendors, to team stores, to even the bathrooms were brought from the 20th to the 21st century. Though there are some drastic differences, some aspects of the stadium did stay more along the lines of the original stadium. The seating is generally the same with regard to layout. But the major difference between old and new is the price of a seat. An even more outrageous price is how much it cost to build this monstrosity of a stadium. The average cost to build a stadium is about eight hundred million dollars; the new Yankee Stadium cost 1.5 million dollars to erect. The field has essentially the same look, but the dimensions were changed......

Words: 1439 - Pages: 6

Premium Essay

Matrix

...Running head: Plato, Descartes, and The Matrix Plato, Descartes, and The Matrix Plato, Descartes, and The Matrix After reading the Plato’s Allegory of the Cave, I realized that it endures a significant similarity to The Matrix whereas the two share nearly identical metaphysical themes and hypothetical assumptions regarding the reality of nature, the experience in the world, and the chance of illusion. At first, the ‘two world’ theory is the main theme that goes through The Matrix and the Allegory of the Cave. The existence of two worlds is what this philosophy theorizes, mainly in Plato. The world of the senses and everyday experience is of an imagined world. An Ultimate world unruffled of Formulae is of their existing. Plato is considered by the second world to be ontologically greater to the imagined world of the senses. This theory is also found in Hinduism, Buddhism, and Gnosticism with some substantial changes. In contrary, the prisoners sat facing a wall inside a cave, which gave me the scenario that the prisoners are bound by shackles from birth in the story of the cave. In their lack of knowledge, the prisoners take these shadows for the “real things” because from birth they have only seen these shadows on the walls that had images of animals and humans carrying objects. In the development of the story, one of the prisoners is unbound and made to turn around. In the beginning, he realizes the cause of the shadows, which is caused by a flame in arrears of......

Words: 861 - Pages: 4

Premium Essay

Yankee Fork and Hoe

...Forecasting is a critical component of balancing supply in order to meet customer needs while ensuring costs are kept low. Without proper forecasting, companies can see a direct hit to their bottom line by keeping too much inventory resulting in capacity issues, as well as by losing customers due to not having enough inventory. In the case of Yankee Fork and Hoe Company there are several issues with the forecasting system used in each department and these issues need to be rectified in order to improve cross-functionality and customer service for the company. The Marketing Department When Sharon Place is tasked with figuring out the issues in forecasting within the company, one of the people she sees is Ron Adams, the marketing manager. Adams explains that he meets with several managers from each sales region and goes over the shipping data from the prior year as well as upcoming promotions, economic conditions, and shortages from the prior year. He then creates a monthly forecast for the following year. This process is clearly not working, and since the production department relies heavily on the forecasting from marketing, adjustments must be made. Recommendation: Adams needs to find a quantitative method to create a forecast as opposed to the qualitative one he is currently using. He is also using the shipping data to make his suggestions as opposed the actual demand data. This is a problem since the company has had issues meeting the demand, therefore relying on the......

Words: 1127 - Pages: 5

Premium Essay

The Matrix

...The Matrix In the movie The Matrix, several analogies and philosophies run through the story, as well as the clever naming of certain characters, places, and objects. Plato’s Theory of Ideas and the Myth of the Cave Plato believed that there were two worlds that existed, the world of the senses and the world of ideas. The sensory world was the physical matter, which was always changing and does not last forever, perceived through our senses. The world of ideas is eternal, and consists of patterns which the sensory world was made from. Plato said that we cannot get true knowledge from the sensory world, because it was always changing, and true knowledge lay in the world of ideas, where we perceived through reason, and not our senses. He said that the human being had an eternal soul that existed in the world of ideas before it inhabited the physical body. When the soul sees the imperfect sensory world, it gives the soul a faint recollection of the idea world, and it longs to return and see that idea world again. The Myth of the Cave is another way Plato explained this. He said that a group of humans are in a cave facing the back wall of the cave, and behind them is a high wall blocking the outside of the cave. Some other human-like creatures hold up some figures, above the wall, and all these humans can see are the shadows on the wall. They have been tied up in this position for their whole life. Plato said that the darkness of the cave represents the sensory world,...

Words: 1728 - Pages: 7

Premium Essay

Yankee Case

...1. The problem with the forecasting system used by Yankee is split in two. There is no communication between production and marketing and therefore they are creating their own forecasting demands. Marketing meets only once a year to determine demand for the whole year. It looks like marketing creates its forecast using shipping data and not actual demand data. This could be the reason they are coming up short toward the end of the year. They are using past shipping information that isn’t reflecting actual demand but can be reflecting the shipping shortages of last year. This will cause the past problems to bleed into the future forecast. Then production gets the marketing demand numbers and drops the demand by 10% because they believe marketing has inflated the numbers. Then they come up short with the production and there’s never enough time for the forgers of steel to work to catch up. To solve this issue, they need to work together to create one, actual demand based; forecast that the whole company can agree on. They cannot work separately on the forecast because this is definitely causing shortages and inventory problems. 2. It can be seen that there is a seasonal effect on the demand for the bow rakes, therefore to create a forecast for year five I used the multiplicative seasonal method. There is also an upward trend annually in the demand for the rakes. Using the Multiplicative seasonal method takes both the seasonal and upward trend into account when creating a......

Words: 283 - Pages: 2

Premium Essay

Matrix

...| Plato, Descartes, and the Matrix After obtaining knowledge from the Matrix, Plato's Allegory of the Cave or The Republic and the first Mediation from Descartes, I see that there are a few likenesses and contrasts. I would need to say that The Matrix and Plato's hole purposeful tale were more comparable because the individuals included in both stories, they existed in this present reality where they were being cheated about what the fact of the matter was. In the Matrix, once Neo saw this present reality and that all that he thought was true was really a hallucination, is very much alike to the shadows on the dividers of the surrender that the prisoners saw in Plato's Allegory of the hole. In both stories, both characters could encounter reality as well as the phony world and was given opportunity to see reality and were confounded. Nonetheless, the detainee in Plato's story in the wake of picking up this new information let others in servitude know of his recently discovered learning however felt that the first truth was less demanding to with the exception to. Then again Neo in The Matrix chose he needed to realize what the right truth was. Both characters were intrigued by figure out reality however they recognized reality in an unexpected way. Plato thought it was fundamental for the affixed man in the Allegory of the Cave required to escape from the hole to look for reality. Socrates portrays a gathering of individuals who have lived anchored to the divider of a......

Words: 1325 - Pages: 6

Premium Essay

Yankee Candle

...1. I believe that what is next for Yankee Holding Company is to simply continue to grow and to lift the company up from the financial slump it encountered in 2007. Nowadays, customers are watching what they are spending their money on more. Therefore, being the leader in the market, Yankee Candle must establish their brand, expand retail and wholesale networks and introduce new fragrances. The company has a strong foundation and with its innovation, the only way to continue is by expanding. Opening more stores is a good idea for the company to continue building its brand recognition. Possibly appealing to a new target market could also be a route to take. Designing a line of products that would appeal to a younger market would be my suggestion. Perhaps even making the candles flameless, but not losing the uniqueness of the scents. Younger generations tend to like the innovation of flameless scents. Also, college dorms often do not allow candles because of fire hazards. Manufacturing flameless candles with the signature scents of YCC can eliminate this issue. Also, Aroma Naturals operates primarily as an online retailer; a good idea would be to open stores for this brand as well. I checked out their website and it is a very interesting theory of aromatherapy. “The therapeutic use of pure plant essential oils to bring well-being to both mind and body”, is an invigorating aspect to pursue. Many loyal customers of Yankee Candle value the authenticity of the product and the......

Words: 888 - Pages: 4

Premium Essay

The Matrix

...Similarities and Differences of The Matrix, Plato and Descartes Frederick Kinley PHIL201-C10LUO March 17, 2014 The Matrix was a film created by the Wachowski Brothers that dealt heavily with the thought of epistemology. Epistemology is a philosophy of origin, nature and limits of human knowledge. In the Matrix the limits of human knowledge was pushed with the question of reality. Is reality real? Is what we see and do true? The question was portrayed in the film by Neo a computer hacker that had a life time nagging question inside that he just could not shake. Neo met Morpheus, a leader of an organization that could help Neo answer his question. Morpheus proposed Neo a plan to follow him take the “red pill” and find the truth or take a “blue pill” and forever stay the same. Neo agrees to take the “red pill” then is launched into a world like he had never seen before. The “Matrix” was a world where humans were only living virtual reality lives. Giant computers were placing thoughts, feelings and everyday life circumstances into their minds. Through their virtual lives they could work, play and even die. Is our reality real today? Are we just victims of a larger, grander scheme? The Allegory of the Cave is a synopsis of The Republic where people live their whole lives in the opening of a cave. The prisoner’s feet and necks are chained so they cannot leave or even turn their heads. Their whole lives the only truth they......

Words: 708 - Pages: 3

Premium Essay

Yankee

...Yankee is a company that produces garden tools that are sold in four different product lines ranging from top-of-the-line to economy and the tools they produce ranges from mortar pans, wheelbarrows, shovels, rakes, trowels to hand trucks. The garden tools market is very competitive and mature as the products have very simple designs and there are many competitors in the market. Furthermore, substitutes are (power-generated tools) are available in the market. Yankee needs to keep prices low while focusing on reliable delivery and high quality to keep its position as a leading producer. Yankee has no formal method to forecast demand. The marketing team forecasts demand by month for the following year and the numbers they give to the operations side is said to be inflated, and they will reduce the forecasted numbers by approximately 10%. This shows that there is no collaboration and trust between the marketing and operations teams in forecasting demand which leads to delays in shipment to customers. Furthermore, the marketing team uses “shipping data” from the past year to discuss about promotions, changes in the economy and shortage problems from the past year and based on these, they will come up with the demand forecast for next year. This will not be an accurate and reliable forecast as compared to using the actual demand numbers. The operations team does not keep any inventory at hand because they are concerned about the high costs that comes with it, but there is no......

Words: 268 - Pages: 2

Premium Essay

Case Study Analysis: Yankee Fork and Hoe Company

...Yankee Fork and Hoe Company Case Questions 1. Comment on the forecasting system being used by Yankee. Suggest changes or improvements that you believe are justified. It seems as if Ron Adams is forecasting his figures by meeting managers from various sale regions to go over shipping data from last year. He did not use an calculations in order to explain his forecast. Ron has been using only qualitative analysis as opposed to quantitative analysis. By using quantitative analysis, Ron could gain some advantages of quick forecast and experiences from managers. He could also come across disadvantages in qualitative analysis such as group thinking and the forecasts usually tends to be overly inflated. This is especially related to Phil Stanton the production manager since he said that forecasts are usually inflated and he usually reduces the forecast by 10%. The quantitative method should be used in this forecast. The quantitative analysis is suitable for the existing products that have stable demand and historical data. Looking at the demand from the last 4 years, the product tends to fall in seasonal pattern and not much has been changed in each year. A suggestion for Ron is to use the seasonality technique with linear trend equation to calculate the future demand for the following fifth year. In doing so, Ron could be exposed to more accurate forecast in regards to the difference in demand for each month. The forecasting technique used by the marketing department is......

Words: 750 - Pages: 3

Free Essay

Fork and Knives

...Dammylyn Onuoha 5/15/2015 Forks and Knives There were many interesting facts I discovered while watching the movie Forks over knives. To begin I never knew we spent trillions of dollars on healthcare (2.2 to be exact) each year yet we are sicker than ever. Also that every minute a person dies from a heart related disease. But what shocked me was the fact that cancer growth can be affected by the percentage of animal protein in one’s diet. When discussing what aspects I found interesting I should begin with the fact that you could get all your daily nutrients and vitamins from a plant and veggie diet. Also the stomachs receptors that tell you when you have had enough to eat could be altered when you eat unhealthy food resulting in you eating more to fulfill your desires. Lastly I like the fact they took it into Greek history and talked a little about Hippocrates. I would recommend this video to my cousin because he thinks proteins only source is meat. I also would recommend this video to my mom because she is trying to lose weight but doesn’t know how. And finally my sister because she to is getting obese and wants to know how to cut weight. I could use this info to improve my life by not relying on milk and meat for protein. I could search up meal plans based on those professor studies to find the one that’s right for me. Lastly I could use the scientific research for example thing about the stomach receptors to know that if I eat a meal and I’m still not full it......

Words: 300 - Pages: 2

Premium Essay

The Matrix

...“Existentialism”. Therefore, they can decide who they are going to be. However, the people in “The Matrix” do not have free thought. Throughout the film “The Matrix”, people in the Matrix and the real world believe that they have free choice and absolute freedom to determine who they are and what makes them a success; however, they do not have freedom because they are either controlled by the AI or the circumstances of their existence. People make their own decisions in the Matrix so they tend to believe that they have freedom to determine their lives. In fact, artificial intelligence is controlling the people and feeds on them. People in the Matrix live life as a prisoner. The most pathetic true is that the prisoners do not realize they are prisoners; on the contrary, they deem themselves free. People who live in the matrix feel comfortable in the environment they grew up in. They believe what they have seen and experienced is real, but they cannot see that they are chained. For example, in “The Matrix” when Cypher is eating steak with agent Smith in the restaurant, he says, “I know this steak doesn’t exist. I know that when I put it in my mouth, the Matrix is telling my brain that it is juicy and delicious.” Cypher knows the truth that his senses in the Matrix are being deceived by AI. Sadly the people who have not been unplugged do not know that. People who lived in the Matrix do not even have the right to claim they are happy. As Griswold questioned, “what is......

Words: 1434 - Pages: 6

Premium Essay

Yankee Manufacturing

...Situation A: In evaluating the internal control over cash payments of Yankee Manufacturing, an auditor learns that the purchasing agent is responsible for purchasing diamonds for use in the company’s manufacturing process, approving the invoices for payment, and signing the checks. No supervisor reviews the purchasing agent’s work. The missing internal control characteristic for the Yankee Manufacturing company is separation of duties. There are many things that can happen to this business since there is only one person who is the purchaser of the diamonds, approving the invoices, and signing the checks. Also, there is no supervisor checking over this employee’s work. The problem with having one person doing many jobs within Yankee Manufacturing is that fraud could take place or the diamonds could be stolen. When there is only the one employee who purchases the diamonds, approves invoices for payment, and signs the checks, that same employee could take the diamonds without anyone knowing because no one is checking his work. This employee could have diamonds taken to a certain location and the supervisors may not even know before it is too late. A way to keep theft and fraud from happening is to have three different employees doing the duties that the one employee is doing now. For example, there should be one person who is the sole person for purchasing the diamonds. There should be a second person who is in charge of approving invoices for payments. Lastly, there......

Words: 808 - Pages: 4

Free Essay

Matrix

...multiply the matrix by the position vector of the point. Example: A transformation is represented by the 2 by 2 matrix M = . To find the image of the point (3, 2) under this transformation, you need to find the result of the following matrix multiplication So the coordinates of the image are (8, -1). Example 2: A rectangle has coordinates (1, 1), (4, 1), (4, 3) and (1, 3). Find the coordinates of the image of the rectangle under the transformation represented by the matrix . Solution: You could find the image of each vertex in turn by finding , etc. However, it is more efficient to multiply the transformation matrix by a rectangular matrix containing the coordinates of each vertex: . So the image has coordinates (2, 0), (11, -3), (9, -1) and (0, 2). The diagram below shows the object and the image: Any transformation that can be represented by a 2 by 2 matrix, , is called a linear transformation. 1.1 Transforming the unit square The square with coordinates O(0, 0), I(1, 0), J(0, 1) and K(1, 1) is called the unit square. Suppose we consider the image of this square under a general linear transformation as represented by the matrix : . We therefore can notice the following things: * The origin O(0, 0) is mapped to itself; * The image of the point I(1, 0) is (a, c), i.e. the first column of the transformation matrix; * The image of the point J(0, 1) is (b, d), i.e. the second column of the transformation matrix; ......

Words: 2245 - Pages: 9