Business Conditions Analysis (2) Essay Example | Topics and Well Written Essays - 500 words

Business Conditions Analysis (2) - Essay Example Along with this, the committee also take into consideration some of the minor economic indicators which do not reflect the overall economy like real sales. All these indicators are used in order to predict and analyze the economic activities which in turn facilitates in the process of identifying the peaks and troughs in the business cycle (NBER). National Bureau of Economic Research (NBER) has specific definitions for the recession and expansion, according to which the Business Cycle Dating Committee of NBER take decisions about the important turning points of the overall economy of United States. Because of these limited definitions, the committee is unable to distinguish between the actual shift in the business cycle from the interruptions of short level (NBER). The combine use of indicators reflecting overall economy and indicators which do not reflect overall economy can raise the concern about the double counting different industries and figures. However, on the other hand this method of using and considering both set of indicators facilitates the committee in the process of identifying accurate dates of the peaks and trough as some times the broad economic indicators can present conflicting results (NBER). The most common definition of recession which has been used by different financial and economic analysts is that recession is defined as the period of two successive and repeated quarters in which the overall GDP of the economy falls. This definition is commonly known as the two quarter definition of the recession. But, National Bureau of Economic Research does not use this two quarter definition. The Business Cycle Dating Committee gives high consideration to important monthly indicators and along with this combine different set of economic indicators in order to identify important events in more efficient and

Warehousing and Inventory Management Essay Example | Topics and Well Written Essays - 2000 words

Warehousing and Inventory Management - Essay Example Raw materials, components, and finished goods are among the most common material one can find in a ware house. The history of warehousing can be traced back in the form of granaries that were supposed to store food. As the world came to know about sea routes and trading through sea routes that was the time warehouses found its first form. Port was the centre of warehouses followed by rail road stations. Among the very first organization was American Warehousemens Association, 1891, that was established to manage the warehouses and protect the rights of the one who give to store from rail road companies control over freight depots. War World true was the time when warehousing was groomed and new techniques and methods were implemented from efficiencies and design was modified as well for effectiveness. In the late twentieth century, warehouses was supposed to lose its importance among the industries because of many technological improvements, the IT hype and methods like Just In Time inventory system that don’t have essential place for the warehouses. But in21st century they are coming back with more than just storage facility. Warehouses are supposed to be 3rd party logistics in now days. 1. To store the seasonal products especially the agriculture commodities those are seasonal and were not available throughout the year. This was the need to have a proper storage in order to maintain and preserve the excess to use throughout the year. Management and monitoring of materials in warehouses can be done through software that came under the head of Warehouse Management System. (WMS) Today, there are warehouses that care completely automated and optimized in terms of effectiveness and efficiencies. There are automated warehouses without any labour and shift goods from a point to another through automated mobile shelves. In the fast pace world of today, the power of automation is hard to