Explain how simulation can be used for logistics service provider to analysis the risk. Give one example on that.
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Q: Explain why the simulation outcomes vary from run to run
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Q: Determine why the simulation outcomes vary from run to run.
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Q: Explain why Simulation is widely used technique in organzations
A: To be determined : why Simulation is widely used technique in organzations
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A: Answer as follows:
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Q: Determine why the simulation outcomes vary from one run to the next.
A: The reason the simulation outcomes vary from time to time is this:
Q: Benjamin Franklin once said, “If you fail to plan, you are planning to fail”. Explain
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Q: Two difficulties that might be described using simulation models
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Q: Explain what does the simulation technique involves
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?What are the different classes of system and network risk? Real-life dangers?What are the possible factors that could be responsible for food not being available at the right time to reach the resident in a healthcare facility? Include at least 4 categories and list 2 possible specific issues for each category.
- Explain THREE (3) types of risk by providing relevant examples in the logistics industry.Explain what is incremental approach ? Describe an ideal situation and least ideal situation for its use ?1. Explain the concept of total landed cost as it related to transportation. How does it influence market boundaries? 2. Explain the concept of time utility with suitable example.
- Ancient history of logistics distribution regarding probability?How trade-off between cost versus quality of delivery services critical for customer fulfillment and making efficient balance in COVID-19 scenario.Explain the relationship between customer service levels and the costs associated with providing those service levels.
- Research and describe how much revenue is generated by MBTA system and where this revenue goes. Or is it a lossDraw a data flow diagram of food panda payment system.CASE:Reducing New Product Stockouts at ColesYou have been employed in the supply chain management organization of Coles for the past two years.You are very excited when you are asked to join a team being formed to address serious inventory management problems often associated with the introduction of new products. Too often, customers who make a trip to Coles to purchase a highly advertised new product are disappointed to find the store is out of stock of that particular item. Such stockouts result in lost sales for both Coles and the product supplier and the potential loss of customers as shoppers look elsewhere to find the new product. The resulting loss of customer goodwill can have a long-term effect on sales. Solving this problem will require a balancing act; the company needs to carry sufficient inventory of new products to meet customer demand while avoiding excessive inventory levels that increase costs. The team you have joined consists of nine people representing the finance,…