Operational Management Principles Essay Example | Topics and Well Written Essays - 500 words

Operational Management Principles - Essay Example Expansion of the plant would be an ideal solution which will solve all the issues related movement of the equipment, tracks, men and if any repairing to be carried out. The establishment itself should be planned in a manner that if in future when it is required to expand the plant then the existing plant layout should be valuable for a change. The primary concern is for the movement of carriers and tracks. If we come out with a solution such as, issuing tokens to trucks at the gate, which will be, have information like what type of load would be placed and quantity of load specified to transit through the plant. And to which point the trucks should report for loading or collecting the compliments only those trucks should be allowed at the particular points with tokens. This procedure will rule out the fault that the drivers getting impatient wasting at the point and baking. One more solution is to increase the number of points for the product pickups. This procedure will if implemented then drivers need not have to wait for long hours. If we employ a few supervisors at the transport which will help the customer contracted trucks to pass immediately from gate to gate which may take less than two hours from gate to gate and will also help in earning the goodwill for the company. With these kinds of changes, you can schedule the trucks for the product pickup within 4 hours notice. Even 2 hours notice before the purchase can also be served with ease. The customer contracted trucks appearing at the gate with an unanticipated purchase order can also be entertained and can be regulated to the respective pickup points thereby pleasing the customers with high-end professional service.

Financial Upheavals. Financial crisis Essay Example | Topics and Well Written Essays - 2500 words

Financial Upheavals. Financial crisis - Essay Example The aftermaths of any such business cycle may vary from being modest to remorseless hinging upon its magnitude and continuance. History show that the American economy has moved through periods of boom, recession and recovery. The years 1837, 1893 and 1929 help retrace the occurrence of three major depressions in United States (Calomiris 2010). The downturns of 1857, 1873, and 1907 are also referred in the history books (Rothbard 2002). The America of 1819 and the financial crisis its people went through was only the first of speculative cacoethes which is America's true national interest (Maloney 2009). But then again, the Great Recession of 2008 is the latest financial turmoil in the United States, the twinges of which are still being sensed. Both these financial upheavals resemble one another with respect to their causes and consequences. For instance, they headed to extended bank failures, loan foreclosures, high unemployment rates and a depression in manufacturing sector. The cau ses of the panic of 1819 can be assigned to the economic system of the United States (Rothbard 2002). The panic of 1819 ended the tremendous economic expansion that occurred after the War of 1812. Rampant inflation, debtors’ relief which was constantly associated with monetary strategies and a protective tariff on imports worked as a pivotal point in creating the situation of panic in the US at that time. Whereas, the oncoming of the Recession of 2008 can be assigned to complicated and interconnected constituents. Sub-prime loans, lax financial regulation, loose monetary policy and global instabilities collectively induced the latest financial upheaval that caused entire world staggering. This suggests that there were more than one element that sparked off the two financial upheavals discussed above. Among those major causal elements, monetary policy played a key role to trigger the financial turmoils. The purpose of this paper is to compare and contrast these two historic fi nancial upheavals; the earliest and the latest to have rocked the United States of America with special emphasis on the role of the monetary policy in each case. The Panic of 1819 The major causes of the panic of 1819 were delved within the US economy. Similar to so much of what is disastrous to civilized society, the Panic of 1819 had been produced in the violent agitation particularly of the War of 1812. The young American economy confronted many rapid breakdowns that were brought by the War of 1812 and its consequences. United States previously had been a big country with a thin population of around seven million which were mostly committed solely to agriculture. Many agricultural products such as wheat, cotton, and tobacco were exported across borders, although the residual of the agricultural products was mostly consumed by self-sustaining rural families. Public debt held by Americans during the war of 1812 induced the prices rise throughout the United States. At that time, the monetary system of the country was not advance or highly-developed. The American banks were restricted almost entirely to the cities and their tools and methods to run the economy inclined to be lax with insignificant Government control. The reality, that most banks and other institutions of that era had to acquire their position by exceptional legislative charter, tempted inquisitive and high-risk misuses through exerting force on the legislature. All this resulted in an inadequacy of uniformity in administering banks within and among states. The emergence of the First Bank of the United States had regulated the banks towards uniformity until the year 1811. Irresponsible and mismanaged banking system had played a crucial role in creating that panic. From 1811 to