OVERVIEW OF THE CLASSIC ECONOMIC ORDER QUANTITY APPROACH TO INVENTORY MANAGEMENT
Department of Accounting, Banking and Finance Baze University at Abuja Nigeria firstname.lastname@example.org
Shri Dharmasthala Manjunatheshwara Institute for Management Development (SDMIMD)
No. 1, Chamundi Hill Road, Siddharthanagar Post Mysore – 570011, Karnataka, INDIA
The paper provides an overview of the basic Economic Order Quantity (EOQ) model designed to enhance efficient management in modern organizations. The dearth of research into the classic EOQ in favour of the more sophisticated versions of the model is explained. The relevance of the fundamentals of the EOQ particularly in the public-sector organizations of less-developed economies such as those of Asia and sub-Saharan Africa is discussed. Using exploratory research design, the data including the model’s basic assumptions, formula, procedure, were sourced primarily from recent survey of concerning literature and interviews with management teachers and practitioners. Numerical examples and computer-aided sensitivity analysis are used to demonstrate simple and effective solutions to basic inventory control problems. Practical challenges are acknowledged, but the capacity of basic spread sheet package to simplify EOQ application process without losing much information quality at departmental and corporate levels are also noted. The paper’s pedagogic value and implications for strategic management education, particularly in the context of the developing economies like Nigeria where quantitative management approaches are not yet fully entrenched are presented. Suggestions for future research scope are also highlighted.
ADVERTISING IN IT TRAINING INSTITUTIONS: A COMPARATIVE STUDY OF TWO BRANCHES OF CMC IN WEST BENGAL, INDIA
B.Com. (Hons.) [C.U.], Certified Financial Accountant (CMC), DFA (CMC),
PGDBF (HSIS India), Certified Financial Accountant (GLOBSYN Skills),
GPBL (TASMAC & University of Wales), Associate Member – NIPM.
CMC Ltd. is one of the pioneers of IT education in India. Two branches of this institute are located in West Bengal. One is in Salt Lake City, Kolkata (state capital) and another one is in Konnagar, Hooghly district. Syllabuses, teaching methodology, student facilities, parameters for checking answer scripts, conduction of exams, marketing measures, advertising policies etc. are identical in nature in the two branches due to organizational policy. Still, the Konnagar branch continues to grow but Salt Lake branch steadily comes down since 2011 in terms of business acquisition i.e. student admissions.
A study was done to identify the reasons of steady growth of Konnagar branch and decline of Salt Lake branch. That study also revealed a lot about advertising in IT training institutions. These constituents and features of advertising were studied in case of growing (Konnagar) and declining (Salt Lake), both types of scenarios. In other words, it can be said that with the help of that study, the constituents and features of advertising policy which has to be considered in IT training institutions, were explored.
PROBLEMS AND PROSPECTS OF WOMEN ENTREPRENEURS IN INDIA
Director, School of Nursing, Desh Bhagat University, Mandi Gobindgarh, Punjab, India.
Before the 20th century, women were operating businesses as a way of supplementing income. The ventures that these women undertook were not known as entrepreneurial at the time; many of them usually had to bow to their domestic responsibilities. The term entrepreneur is used to describe individuals who have ideas for products and/or services that they turn into a working business. In earlier times, this term was reserved for men. Women became more involved in the business world only when the idea of women in business became palatable to the general public. Entrepreneurship amongst women has been a recent concern .The development of women entrepreneurship is very low in India, especially in the rural areas. Women have become aware of their existence, their rights and their work situation.
The paper focuses about the status of Indian women entrepreneurs and the problems faced by them when they march forward to make their destiny and to show their ability in the competitive world of business environment.
Assistant Professor, Khalsa College of Nursing, Amritsar, Punjab, India.
Performance appraisal is the step where the management finds out how effective it has been at hiring and placing employees. Performance appraisal involves an evaluation of actual against desired performance. It also helps in reviewing various factors which influence performance. It involves Establishing standards and measure, Communicating job expectation, Planning, Monitoring performance, Appraising, Feedback, Decision making, Development of performance. Essay appraisal method, Management by Objectives (MBO), Critical incident method, field review, Graphic rate scale, Forced distribution and ranking methods can be used to evaluate employees. It helps to motivate employees by providing feedback about their work and provide employee with recognition for accomplishments. But it can be biased sometimes so the methods must be carefully selected.
EXPLORING THE CONTRIBUTIONS OF INFORMAL SECTOR TOWARDS INCOME AND EMPLOYMENT GENERATION IN KATSINA METROPOLIS: A CASE OF METAL WORKS ENTERPRISE
*Supporting staff; Department of Economics, Umaru Musa Yar’adua University, Katsina, Katsina state, Nigeria.
**Abubakar Atiku Muhammad
Not until recently, the quest for economic growth and development have been resting upon the shoulders of formal sector of the economy to which western world and free market system owes a great debt. However, the role of informal sector of the economy as was hitherto considered is at best narrowed. Consequently, as time pass, specifically, with the emergence of Asian tigers and their new economic doctrine, there revealed the hidden fortunes of informal sector towards economic buoyancy, leading many nations to follow suit. Nigeria and Katsina state were no exception. This paper examines the contributions of informal sector towards income and employment generation with a particular reference to metal works enterprises in Katsina metropolis. The paper adopted Linear Probability Model in the analysis of the primary data elicited via questionnaire administration. Findings of the study shows that, metal works enterprises contribute significantly towards income and employment generation in Katsina metropolis. This is supported by the respective p-values <0.05 V coefficients of income and employment as used in the model. Although, metal works enterprises are plagued with the dearth of sufficient capital, government support and more often than not, dilapidated infrastructures necessary for the triumph of their operation. The study hence recommends that, entrepreneurship development programmes and its outlets should be established across the state. The demands for informal sector enterprises should be adequately met and their major problems smoothly eroded. This will undoubtedly end the tragedy of poverty and yarning unemployment in the realm and therefore, marked a new watershed in the politics of development economically and otherwise in our beloved state and the nation at large.