Operations & Process Mgt Assignment Example | Topics and Well Written Essays - 1000 words

Operations & Process Mgt - Assignment Example Expected inventory level is the stock held by a business more than its obligation for the lead-time. Firms hold Expected inventory level to guard against â€Å"stock-out† (Shah, 2005:227). Average inventory is utilized to approximate the quantity of inventory that a company naturally has on hand more than a longer time period than just the last period. Since the balance of inventory is computed at then end of the last dealing day of a month, it can vary significantly from the average quantity over a longer period of time, depending upon whether there was an unexpected decline of stock or possibly a big supplier delivery at the ending of the month. â€Å"Average inventory† (702) is also helpful for assessment to revenues. While revenues are naturally accessible in the statement of profits and loss not only for the most recent month, but also for the â€Å"year-to-date† (Bragg, 2011:151), it is helpful to also compute the average stock for the â€Å"year-to-date† (151), and then match the inventory average balance to the revenues of year-to-date in order to see how much stock investment was required to support a specified sales level. The company considers the average costs connected with â€Å"placing, processing and receiving† (Sabri, Gupta & Beitler, 2007:34) a replacement order for any part amounting to  £40. It also estimates the standard cost of holding a particular unit of every component in inventory for an entire year at 6% of the unit cost of the item. An â€Å"alternative inventory policy† (Fu, 2014:46) that denotes the quantity of units of inventories, which should be held to decrease costs is proposed. We can reduce the total annual stockholding costs by recognizing average inventory and decreasing â€Å"safety stock† (Minner, 2000:35). By reducing overall lead time and lead time variability, estimating investment cost and having a clear awareness of real possible investments

Cultural Sensitivity Essay Example | Topics and Well Written Essays - 750 words

Cultural Sensitivity - Essay Example Health care disparities encompass inequalities in regards to rank, social status and age. Disparities in the health care system are closely linked to equity. There are various factors that lead to the differences among individuals. The US population is highly multi-ethnic, and it is mandatory to understand the various cultures (Diller, 10). In spite of the advancements made in the health care system, there are increasing differences in health status among Hispanics, Native Americans, African Americans, Haitians, Jamaicans and Pacific Islanders (Diller, 10). Additionally, the challenges facing the healthcare sector have increased over the years as the population becomes more ethnically diverse. The future of the health care system in the US will be influenced significantly by advancements in ethnic minorities.The composition of the US population has been changing dramatically over the years. This is true from the statistics shown by the recent studies conducted on the population. In t he past decade, there was a relative increase in ethnic groups as follows: non-Hispanic White 5.5%, African American, 16.4%, Hispanic, 65.3% and Pacific Islanders 123.5% (Diller, 11). If this development continues in the future, the number of ethnic minorities will continue rising. Statistics from the census conducted in 2000 reinforce this argument. This further emphasizes the need for cultural competency in the health care system. The table below shows the expected figures by 2042 (Diller, 11). Composition of the US population Ethnic group 2009 (%) 2050 projections (%) Native Americans 1.6 2.0 Asians 5 9 Hispanics 15 30 Non- Hispanic Whites 66 46 Source: Diller, 12 There are five key challenges facing health practitioners in ensuring cultural sensitivity. The main challenge is communication; different ethnic groups have their native languages and hence may not communicate fluently in English. This calls for the need of interpreters for various languages (Weinstein, 447). Secondly, patients from different groups are conservative and are reluctant to talk about sexual matters and other personal problems. Thirdly, there exist clinical differences among the different ethnic groups, for example, the prevalence to some diseases including hypertension and diabetes. The fourth challenge is ethics; Medical practitioners should have respect for different cultures and beliefs while handling their patients. Last but not least is the problem of trust; Patients from different ethnic groups tend to be afraid of the figures in authority and fail to trust the care givers in hospitals. The issue of cultural diversity in the health care sector is here to stay, and there are numerous solutions to the problems emanating from this diversity. Health care providers should