Supply Chain Management Essay Example for Free

Supply Chain Management Essay All supply chain management shares one common, and central, objective – to satisfy the end customer. All stages in a chain must eventually include consideration of the final customer, no matter how far an individual operation is from the end-customer. Each operation in the chain should be satisfying its own customer, but also making sure that eventually the end-customer is also satisfied. Supply chain objectives Meeting the requirements of end-customers requires the supply chain to achieve appropriate levels of the five operations performance objectives: quality, speed, dependability, flexibility and cost. Quality – the quality of a product or service when it reaches the customer is a function of the quality performance of every operation in the chain that supplied it. Errors in each stage of the chain can multiply in their effect on end-customer service. Speed has two meanings in a supply chain context. The first is how fast customers can be served, an important element in any business’s ability to compete. However, fast customer response can be achieved simply by over-resourcing or over-stocking within the supply chain. Dependability – like speed, one can almost guarantee ‘on-time’ delivery by keeping excessive resources, such as inventory, within the chain. However, dependability of throughput time is a much more desirable aim because it reduces uncertainty within the chain. Flexibility – in a supply chain context is usually taken to mean the chain’s ability to cope with changes and disturbances. Very often this is referred to as supply chain agility. The concept of agility includes previously discussed issues such as focusing on the end-customer and ensuring fast throughput and responsiveness to customer needs. But, in addition, agile supply chains are sufficiently flexible to cope with changes, either in the nature of customer demand or in the supply capabilities of operations within the chain. Cost – in addition to the costs incurred within each operation, the supply chain as a whole incurs additional costs that derive from each operation in a chain doing business with each other. These may include such things as the costs of finding appropriate suppliers, setting up contractual agreements, monitoring supply performance, transporting products between operations, holding inventories, and so on. 5 factors for rating alternative suppliers Short-term ability to supply Range of products or services provided Quality of products or services Responsiveness Dependability of supply Delivery and volume flexibility Total cost of being supplied Ability to supply in the required quantity Long-term ability to supply Potential for innovation Ease of doing business Willingness to share risk Long-term commitment to supply Ability to transfer knowledge as well as products and services Technical capability Operation capability Financial capability Managerial capability Choosing suppliers should involve evaluating the relative importance of all these factors. 6 supply chain relationship business-to-business (B2B) relationships are by far the most common in a supply chain context and include some of the e-procurement exchange networks discussed earlier. Business-to-consumer (B2C) relationships include both ‘bricks and mortar’ retailers and online retailers. Consumer-to-business (C2B) relationships involve consumers posting their needs on the web (sometimes stating the price they are willing to pay), companies then deciding whether to offer. Customer-to-customer (C2C) or peer-to-peer (P2P) relationships include the online exchange and auction services and file sharing services. 7 types of supply chain relationship The very opposite of performing an operation in-house is to purchase goods and services from outside in a ‘pure’ market fashion, often seeking the ‘best’ supplier every time it is necessary to purchase. Each transaction effectively becomes a separate decision. The relationship between buyer and seller, therefore, can be very short-term. Once the goods or services are delivered and payment is made, there may be no further trading between the parties. The advantages of traditional market supplier relationships are usually seen as follows: ââ€"  They maintain competition between alternative suppliers. This promotes a constant drive between suppliers to provide best value. ââ€"  A supplier specializing in a small number of products or services  (or perhaps just one), but supplying them to many customers, can gain natural economies of scale. This enables the supplier to offer the products and services at a lower price than would be obtained if customers per formed the activities themselves on a smaller scale. ââ€"  There is inherent flexibility in outsourced supplies. If demand changes, customers can simply change the number and type of suppliers. This is a far faster and simpler alternative to having to redirect their internal activities. ââ€"  Innovations can be exploited no matter where they originate. Specialist suppliers are more likely to come up with innovative products and services which can be bought in faster and cheaper than would be the case if the company were itself trying to innovate. ââ€"  They help operations to concentrate on their core activities. One business cannot be good at everything. It is sensible therefore to concentrate on the important activities and outsource the rest. There are, however, disadvantages in buying in a totally ‘free market’ manner: ââ€"  There may be supply uncertainties. Once an order has been placed, it is difficult to maintain control over how that order is fulfilled. ââ€"  Choosing who to buy from takes time and effort. Gathering sufficient information and making decisions continually are, in themselves, activities which need to be resourced ââ€"  There are strategic risks in subcontracting activities to other businesses. An over-reliance on outsourcing can ‘hollow out’ the company, leaving it with no internal capabilities which it can exploit in its markets. Short-term relationships may be used on a trial basis when new companies are being considered as more regular suppliers. Also, many purchases which are made by operations are one-off or very irregular. For example, the replacement of all the windows in a company’s office block would typically involve this type of competitive-tendering market relationship. In some public-sector operations, purchasing is still based on short-term contracts. This is mainly because of the need to prove that public money is being spent as judiciously as possible. However, this short-term, price-oriented type of relationship can have a downside in terms of ongoing support and reliability. This may mean that a short-term ‘least-cost’ purchase decision will lead to long-term high cost. Virtual operations An extreme form of outsourcing operational activities is that of the virtual  operation. Virtual operations do relatively little themselves, but rely on a network of suppliers that can provide products and services on demand. A network may be formed for only one project and then disbanded once that project ends. The advantage of virtual operations is their flexibility and the fact that the risks of investing in production facilities are far lower than in a conventional operation. However, without any solid base of resources, a company may find it difficult to hold onto and develop a unique core of technical expertise. The resources used by virtual companies will almost certainly be available to competitors. In effect, the core competence of a virtual operation can only lie in the way it is able to manage its supply network. ‘Partnership’ supply relationships Partnership relationships in supply chains are sometimes seen as a compromise between vertical integration on the one hand (owning the resources which supply you) and pure market relationships on the other (having only a transactional relationship with those who supply you). Although to some extent this is true, partnership relationships are not only a simple mixture of vertical integration and market trading, although they do attempt to achieve some of the closeness and coordination efficiencies of vertical integration, but at the same time attempt to achieve a relationship that has a constant incentive to improve. Partnership relationships are defined as: ‘relatively enduring inter-firm cooperative agreements, involving flows and linkages that use resources and/or governance structures from autonomous organizations, for the joint accomplishment of individual goals linked to the corporate mission of each sponsoring firm’.11 What this means is that suppliers and customer s are expected to cooperate, even to the extent of sharing skills and resources, to achieve joint benefits beyond those they ould have achieved by acting alone. At the heart of the concept of partnership lies the issue of the closeness of the relationship. Partnerships are close relationships, the degree of which is influenced by a number of factors, as follows: ââ€"  Sharing success. An attitude of shared success means that both partners work together in order to increase the total amount of joint benefit they receive, rather than manoeuvring to maximize their own individual contribution. ââ€"  Long-term expectations. Partnership relationships imply relatively long-term commitments, but not  necessarily permanent ones. ââ€"  Multiple points of contact. Communication between partners is not only through formal channels, but may take place between many individuals in both organizations. ââ€"  Joint learning. Partners in a relationship are committed to learn from each other’s experience and perceptions of the other operations in the chain. ââ€"  Few relationships. Although partnership relationships do not necessarily imply single sourcing by customers, they do imply a commitment on the part of both parties to limit the number of customers or suppliers with whom they do business. It is difficult to maintain close relationships with many different trading partners. ââ€"  Joint coordination of activities. Because there are fewer relationships, it becomes possible jointly to coordinate activities such as the flow of materials or service, payment, and so on. ââ€"  Information transparency. An open and efficient information exchange is seen as a key element in partnerships because it helps to build confidence between the partners. ââ€"  Joint problem-solving. Although partnerships do not always run smoothly, jointly approaching problems can increase closeness over time. ââ€"  Trust. This is probably the key element in partnership relationships. In this context, trust means the willingness of one party to relate to the other on the understanding that the relationship will be beneficial to both, even though that cannot be guaranteed. Trust is widely held to be both the key issue in successful partnerships, but also, by far, the most difficult element to develop and maintain. 8 Matching the supply chain with market requirements. The supply chain policies which are seen to be appropriate for functional products and innovative products are termed by Fisher efficient supply chain policies and responsive supply chain policies, respectively. Efficient supply chain policies include keeping inventories low, especially in the downstream parts of the network, so as to maintain fast throughput and reduce the amount of working capital tied up in the inventory. What inventory there is in the network is concentrated mainly in the manufacturing operation, where it can keep utilization high and therefore manufacturing costs low. Information must flow quickly up and down the chain from retail outlets back up to the manufacturer so that schedules can be given the maximum amount of time to adjust efficiently. The chain is then managed to make sure that products  flow as quickly as possible down the chain to replenish what few stocks are kept downstream. By contrast, responsive supply chain policy stresses high service levels and responsive supply to the end-customer. The inventory in the network will be deployed as closely as possible to the customer. In this way, the chain can still supply even when dramatic changes occur in customer demand. Fast throughput from the upstream parts of the chain will still be needed to replenish downstream stocks. But those downstream stocks are needed to ensure high levels of availability to end-customers. 9 The bullwhip effect The ‘bullwhip effect’, is used to describe how a small disturbance at the downstream end of a supply chain causes increasingly large disturbances, errors, inaccuracies and volatility as it works its way upstream. Its main cause is an understandable desire by the different links in the supply chain to manage their production rates and inventory levels sensibly. Miscommunication in the supply chain Whenever two operations in a supply chain arrange for one to provide products or services to the other, there is the potential for misunderstanding and miscommunication. This may be caused simply by not being sufficiently clear about what a customer expects or what a supplier is capable of delivering. There may also be more subtle reasons stemming from differences in perception of seemingly clear agreements. The effect is analogous to the children’s game of ‘Chinese whispers’. The first child whispers a message to the next child who, whether he or she has heard it clearly or not, whispers an interpretation to the next child, and so on. The more children the message passes between, the more distorted it tends to become. The last child says out loud what the message is, and the children are amused by the distortion of the original message. Reducing bullwhip effect Reduce lead time Information sharing One of the reasons for the fluctuations in output described in the example earlier was that each operation in the chain reacted to the orders placed by  its immediate customer. None of the operations had an overview of what was happening throughout the chain. If information had been available and shared throughout the chain, it is unlikely that such wild fluctuations would have occurred. It is sensible therefore to try to transmit information throughout the chain so that all the operations can monitor true demand, free of these distortions. An obvious improvement is to make information on end-customer demand available to upstream operations. Inventory pooling Stable prices 10 time compression One of the most important approaches to improving the operational efficiency of supply chains is known as time compression. This means speeding up the flow of materials down the chain and the flow of information back up the chain. The supply chain dynamics effect was due partly to the slowness of information moving back up the chain.

Effect of Voltage on the Rate of Electroplating a Metal

Effect of Voltage on the Rate of Electroplating a Metal Akinlabi Boluwarinde Oluwatosin BACKGROUND Electroplating is the process of plating one metal onto another by hydrolysis, most commonly for decorative purposes or to prevent corrosion of a metal. There are also specific types of electroplating such as copper plating, silver plating, and chromium plating. Electroplating allows manufacturers to use inexpensive metals such as steel or zinc for the majority of the product and then apply different metals on the outside to account for appearance, protection, and other properties desired for the product. The surface can be a metal or even plastic.[1] RESEARCH QUESTION How does varying the voltage of the circuit affect the rate of electroplating a metal with copper? HYPOTHESIS The voltage of the cell also known as the E.M.F (electromotive force) is known to be the force that drives the current thhrough the circuit. It is expected that by increasing the Voltage the circuit will lead to an increase in the rate of electroplating the metal as more current will flow easily throughout the circuit. VARIABLES Independent Variable The voltage of the circuit Dependent Variable The mass of pure copper electroplated onto the metal Controlled Variable The amount of time allowed for reaction The concentration of the electrolyte solution The metal rod used CONTROL OF VARIABLES The amount of time allowed for reaction to occur will be measured with the use of a stopwatch. The voltage of the circuit will be increased by a fix aed amount of 1.5V to keep the experiment and easily measure a changein rate. The same metal rod will be used throughout the experiment for all trials and of the different voltage. The mass of the metal rod to be used is 7g APPARATUS Cells Low resistance wire Copper solid Electrolyte (copper sulphate solution) Electric Balance Stopwatch Metal rod Voltmeter Beaker METHOD I Setup the circuit as shown in the diagram below. I measured the initial mass of the metal and recorded it.Starting with one cell of 1.5V. I closed the circuit and allowed the reaction to occur for 10 minutes. I removed the electroplated metal and measured its mass and recorded it in the table. I Repeated the experiment increasing the number of cell each time and recorded the mass of the of the electroplated metal each time. SAFTEY PRECAUTIONS There is the risk of electrocution if care is not taken. To avoid this the use of well protected wires is necessary and great care must be taken when carrying out the experiment. DATA COLLECTION Raw Data Voltage /v Mass of metal rod after electrolysis /g  ± 0.1g Trail 1 Trail 2 Trail 3 1.5 7.8 7.9 7.9 3.0 8.9 8.7 8.8 4.5 10.0 9.9 9.9 6.0 11.1 11.2 10.9 Qualitative Observations: The pure copper solid used became faded after it was used in the electrolysis reaction. There was still some residue of copper left on the metal rod after rinsing it. The voltage recorded by the voltmeter was not constant but varried in range that was close to the desired value The mass of the metal rod used is 7g Processed Data Voltage /v Mean Average mass of metal rod after electrolysis /g  ± 0.1g Mass of copper added to rod /g  ± 0.1g 1.5 7.9 0.9 3.0 8.8 1.8 4.5 9.9 2.9 6.0 11.1 4.1 The data has been processed. The mean of the three trials for each voltage has been calculated and represented on the table above as Mean Average mass of metal. Also the mass of copper that was electroplated onto the metal rod was calculated using the equation: Graph 1 Graph 2 CONCLUSION As expected when there was an increase in the voltage flowing in the circuit the mass of copper that was electroplated onto the metal rod increased too. This is because as the voltage increases a larger number of electrons flow from the cell or battery into the anode which causes the formation of copper ions to occur faster and so more ions are attracted to the metal rod (cathode) in the given time. The relationship between mass of copper electroplated and voltage can be seen on both graph 1 and graph 2 above. In graph 1 there is an increase in mass as voltage increases but the graph obtained is a slight curve rather than a straight line which indicates random errors, this could likely be due to the voltage fluctuating in circuit. Graph 2 shows a line of best fit for the graph and it is a straight line graph as expected, the error bars are plotted as well. The line passes through all the error bar ranges but does not touch any of the points on the graph and it does not pass through the origin (0,0), this may be due to systematic errors such as errors in the electric balance when measuring the mass of the metal rod before and after electroplating. The linear correlation is 0.998, which suggest very strong correlation between the two variables. EVALUATION The graph of values obtained was not exactly the same as what was expeted. A straight line graph starting from the origin was the expected graph but the graph ontained after a lin of bestt fit was plotted started from the y-intercept -0.25. This was due to errors in the experiment. Random errors such as the fluctuation of the voltage flowing through the circuit as a result of the chemicl reactions going on in the cell led to some of these errors. The voltmeter showed values that ranged from below to above the value of the voltage required indicating that this variable was not kept constant. The deviations were very little and not too far from the required voltage but were still enough to cause errors. It is also possible that because the same solution was used for all trials not all the copper ions had been electroplated onto the metal rod, this could have altered the concentration of the electrolyte (copper sulphate) leading to more errors as the concentration of the electrolyte als o has an effect on the rate of electroplating. Systematic errors were also present throughout the experiment, errors in measuring the mass of the of the metal rod before and after electroplating and also in measuring the mass of the anhydrous copper sulfate solution. This may have been due to poor caliberation before the experiment was carried out. The copper used may also have not been pure as it is possible that there were impurities in the copper solid used. Finally not all of the copper was rinsed off the metal rod before it was used for the next trial which could have altered the total mass when the mass of the metal after electro plating was measured. Errors in measuring the volume of water to be added to the beaker could also have been present. Systematic errors in the stopwatch used such as the delay in starting when the timer was started. The experiment also depended on human reaction time which is known to less accurate than machines, this will have led to more errors. It is impossible to keep the voltage of the cells constant but the range of values can be reduced by using new cells. The eleectric balance cshould be well caliberated before carring out the experiment and a balance with a higher degree of accuracy and sensitivity (measures to more decimal places) could be used. Before each trial a new electrolyte solution could be used to avoid any changes in concentration during the experiment. The experiment could have been automated using a switch that opened after ten minutes from when it was closed to eliminate the error as a result of dependence on human response time. The experiment could also have been repeated more times to reduce errors and increase accuracy. Also a lager rane of voltages could have been tested to gain more data for better more accurate analysis. [1]  http://chemwiki.ucdavis.edu/Analytical_Chemistry/Electrochemistry/Electrolytic_Cells/Electroplating

Nisei Daughter by Monica Sone Essay -- Nisei Daughter Monica Sone

Nisei Daughter, by Monica Sone 'Even with all the mental anguish and struggle, an elemental instinct bound us to this soil. Here we were born; here we wanted to live. We had tasted of its freedom and learned of its brave hopes for democracy. It was too late, much too late for us to turn back.' (Sone 124). This statement is key to understanding much of the novel, Nisei Daughter, written by Monica Sone. From one perspective, this novel is an autobiographical account of a Japanese American girl and the ways in which she constructed her own self-identity. On the other hand, the novel depicts the distinct differences and tension that formed between the Issei and Nisei generations. Moreover, it can be seen as an attempt to describe the confusion experienced by Japanese Americans torn between two cultures.   Ã‚  Ã‚  Ã‚  Ã‚  First, and most obvious, Monica Sone accounts for, in an autobiographical manner, the important events and situations in her life that helped create her self-identity. She recounts an event at the age of five, when she found out that she, ?had Japanese blood.? This recognition would spark the chain of many more realizations to come. Sone describes the relationships she had with her parents and siblings. She seems very pleased with and delighted by the differing, yet caring personalities of each person in her family. Sone describes herself as a typical American child: going to school, playing mischievously with friends on the block, reading, spending quality time with... Nisei Daughter by Monica Sone Essay -- Nisei Daughter Monica Sone Nisei Daughter, by Monica Sone 'Even with all the mental anguish and struggle, an elemental instinct bound us to this soil. Here we were born; here we wanted to live. We had tasted of its freedom and learned of its brave hopes for democracy. It was too late, much too late for us to turn back.' (Sone 124). This statement is key to understanding much of the novel, Nisei Daughter, written by Monica Sone. From one perspective, this novel is an autobiographical account of a Japanese American girl and the ways in which she constructed her own self-identity. On the other hand, the novel depicts the distinct differences and tension that formed between the Issei and Nisei generations. Moreover, it can be seen as an attempt to describe the confusion experienced by Japanese Americans torn between two cultures.   Ã‚  Ã‚  Ã‚  Ã‚  First, and most obvious, Monica Sone accounts for, in an autobiographical manner, the important events and situations in her life that helped create her self-identity. She recounts an event at the age of five, when she found out that she, ?had Japanese blood.? This recognition would spark the chain of many more realizations to come. Sone describes the relationships she had with her parents and siblings. She seems very pleased with and delighted by the differing, yet caring personalities of each person in her family. Sone describes herself as a typical American child: going to school, playing mischievously with friends on the block, reading, spending quality time with...

Exploring Girls Participation in Violence Essay -- Exploratory Resear

Exploring Girls' Participation in Violence Introduction Youth violence, and particularly violence carried out by girls, has been the subject of intense media attention recently, with an ever-increasing number of girls portrayed as carrying guns in their mouths and participating in violent crime. Although the percentage of girls' involvement in delinquency and crime has increased in the last two decades, it is still far below the level of boys' involvement, and it differs quite significantly. There is a paucity of literature on girls' violence, as most research on youth violence does not distinguish between girls and boys. The most comprehensive and extensive literature reviews on young women's crime and delinquency have been conducted by Meda Chesney-Lind and her associates. While not focusing exclusively on violent girls, their work on girls in trouble with the law provides much insight into the complex issue of girls' aggression and violence. The summary of research in this brief is, for the most part, guided by their work. Overall, the brief reviews the extent of girls' delinquency and violence, the ways they differ from boys', the contributing factors, and effective program strategies to prevent female delinquency. The Scope of Girls' Delinquency, Crime, and Violence The Extent of Girls' Involvement An understanding of the extent of girls' delinquency can be gleaned from statistics, as compiled by the Federal Bureau of Investigation (FBI) and other official agencies, and from self-report surveys conducted with young people. These data demonstrate that girls are far less likely than boys to be arrested; in 1994, for example, girls accounted for one-fourth of youthful arrests (Chesney-Lind & Brown... ...s in the Maryland juvenile justice system. Findings of the Female Population Taskforce. Presentation to the Gender Specific Services Training, Minneapolis, MN. Moore, J.W., & Hagedorn, J.M. (1996). What happens to girls in the gang? In C.R. Huff (Ed.), Gangs in America (pp. 205-20). Thousand Oaks, CA: Sage. Rankin, J.H. (1980). School factors and delinquency: Interaction by age and sex. Sociology and Social Research, 64(3), 420-434. Tolan, P., & Guerra, N. (1994). What works in reducing adolescent violence: An empirical review of the field. Boulder: University of Colorado, Center for the Study and Prevention of Violence. Webster, D.W., Gainer, P.S., & Champion, H.R. (1993). Weapon carrying among inner-city junior high school students: Defensive behavior versus aggressive delinquency. American Journal of Public Health, 83, 1604-1608.

Communism Essay -- Communism Essays

In the beginning Communism seemed to the people of Russia as a utopian ideal. The promise of the elimination of classes, of guaranteed employment, "The creation of a comprehensive social security and welfare system for all citizens that would end the misery of workers once and for all." Lenin's own interpretation of the Marxian critique was that to achieve Communism there would first have to be a socialist dictatorship to first suppress any dissent or protest. Through coercive tactics this new government seized power and in 1917 Lenin came to power. Under his "rule" Russia underwent radical changes in it's economic doctrines adopting a mixed which was termed the New Economic Policy, also referred to as NEP. This economy called for some private ownership of the means of production, but the majority of industry was made property of the people, which meant the majority of the means of production was controlled by the government. Lenin's government made many achievem ents. It ended a long civil war against the remnants of the old Tsarist military system and established institutions in government. During this period, censorship and the subordination of interest groups such as trade unions was imposed to stop dissension and increase conformity to the new government policies. After Lenin's death in 1924, Joseph Stalin quickly gained control of the Communist party and the oppressive reforms started by Lenin were continued and at length became completely totalitar...

Liquid Permeability of Porous Media

1. 0Summary This experiment is conducted to determine the liquid permeability of porous media. The apparatus used in the experiment is the liquid permeameter. The liquid used in this experiment is water. Three membrane samples of different thickness (0. 1, 0. 2, 0. 3 cm) are used as the porous media. The determination of the permeability is carried out using elevated pressure test. Each sample is tested for 5 times at different values of pressure gradient which are 5, 10, 15, 20 and 30 psi.In order to obtain more accurate data, ensure that the membrane samples to be test is fixed tightly and covers the o-ring of the sample chamber completely. Values of volumetric flow rates are obtained from the apparatus itself. For pressure gradient of 5 psi and 30 psi, the average permeability for PP1 membrane sample are 0. 23993 cm2 @ 2. 33993? 10-5 m2 and 0. 096196 cm2 @ 9. 6196? 10-6 m2 respectively. For PP3 membrane sample, the average permeability are 0. 52692 cm2 and 0. 19841 cm2 for pressur e gradient of 5 psi and 30 psi.For PP5 membrane sample, the average permeability are 1. 0541 cm2 and 0. 29489 cm2 for pressure gradient of 5 psi and 30 psi. The values of permeability obtained are then compared by plotting graphs of volumetric flow rate over cross sectional (q/A) against pressure gradient over thickness (? P/L). The gradient of the straight line from the graph is  µ/k. For PP1 sample membrane, the permeability obtained from the graph is k= 0. 000148 m2 for ? P=5psi and k= 0. 000062 m2 for ? P= 30 psi.Permeability obtained from the graph is compared with ones obtained from the liquid permeameter apparatus. Reynolds number for the tests at ? P=5psi is 5. 3913? 10-5 and for ? P= 30 psi is 1. 1147? 10-4. Laminar flow conditions exist so that Darcy’s equation is applicable. 2. 0 Introduction When fluid flows through a medium, the flow is affected by the property of the medium that allows the flow of the fluid through it. The property of the medium is called perm eability. Permeability which is symbolized as k is the measure of the ability of a medium to transfer fluids.Permeability affects flow processes of fluids. An effective flow process can occur if the permeability of the medium where the fluids pass through is high. Concept of permeability is important in the oil and gas industry in which the permeability characteristic of rocks are determined in order to extract oil and gas from the subsurface reservoir. For example, sandstones are permeable and can transmit fluid effectively. This types of stones possessed large and many connected pores. They may content high quantity of oil.Shales and siltstones composed of fine grains and have less connected pores causing them to be less permeable or impermeable. Permeability of a medium can be easily determined from equipment with high technology. It is important to know the factors or component which may affect permeability in order to prove or increase the permeability. This might benefits the industry which involves extraction processes. Experimental results are important because to increase the efficiency of processes involving permeability it is dependent on the data or results. 3. 0 Aims/ObjectivesThe experiment is conducted to objective of this experiment is to determine the permeability of the porous media, to create conditions so that Darcy’s equation can be used and to compare the average permeability for different pressure gradient and types of tested samples as well as to relate permeability with various components of Darcy’s equation. 4. 0 Theory Permeability is property of the porous medium and is a measure of the ability of the medium to allow fluids to pass through it. Permeability concept is widely used to determine the flow characteristics of hydrocarbons  in  oil  and  gas  reservoirs.Medium or rocks that possess high permeability can allow fluids to pass through it in large quantity over time. This is indicated form high volumetri c flow rate. To quantify permeability, assume that there is a medium with cross-sectional area (A) and thickness (L). A fluid of dynamic viscosity ( µ) is allowed to flow through the medium. The change in pressure that occurs during the flow is ? P and the volumetric flow rate (q) is the amount of fluid that can flow through the medium over a period of time with respect to the ? P. Permeability (k) is related to all the components by the Darcy’s equation. Darcy’s equation: q=kA?P µL †¦.. (1) The SI unit for permeability, k is m2. Permeability is also measured in Darcy, D. 1 D is approximately 10-12m2. Factors affecting permeability are membrane solubility, pressure, concentration and temperature of the molecules or solutes. Permeability is also affected by size of the molecules of the fluids that passing through the medium. Darcy’s equation is valid for any Newtonian fluids and is only applicable for laminar flow. The laminar flow is always achieved by groundwater but not always achieved by gas flows. Laminar flow can be determined by computing the Reynolds number of the flow. Re= ? vD µ 5. 0 Apparatus i.Liquid permeameter apparatus ii. Liquid hose iii. Yellow chip pullers iv. Membranes of different thickness, 0. 1, 0. 2 and 0. 3 cm v. Water 6. 0 Procedures i. 3 membrane samples of different thickness (0. 1, 0. 2, 0. 3cm) are prepared. The samples are cut bigger than the o-ring so that they will cover the ring completely and to ensure perfect sealing. ii. The liquid hose attached to the sample chamber lid is disconnected. The lid is unscrewed and removed. The chamber insert and adapter plates are taken out. The o-rings is checked for dryness. iii. Under Group on the main CapWin menu, a new group is created by clicking on New Group. iv.Under Execute on the main CapWin menu, Autotest F2 is selected. Autotest settings screen is opened. Test Type is clicked and Liquid Permeametry is selected from the Test Selection box. Then, Elevat ed Pressure Test option is selected. v. At the Autotest screen, several information are keyed in. The fields are as below. Output File Name-user designated End User-user designated Test Reference-Liquid Permeametry; Elevated Pressure Test Sample ID-user designated Lot Number-user designated Operator-user designated Fluid-Water Surface Tension Diameter-3cm for all 3 samples Thickness-0. 1, 0. 2, 0. 3 cm vi. Done on the Autotest screen is clicked. ii. The screened adapter plate is placed in the bottom of the sample chamber. The plate is aligned on three chamber pins. The sample is placed on the top of the screened plate. The o-ring of the screened plate is checked so that it seals against the sample. Top adapter plate is place on the sample chamber. viii. The chamber insert is placed into the chamber. The insert should not be lower than the sample chamber height. ix. Start Test button is clicked. Starting pressure, maximum pressure, point step pressure, maximum wait between points and maximum number of points are keyed in. Continue button is clicked after each value has been entered. . Sample chamber is filled with water. The lid is screwed and hand-tightened. Liquid fill hose with quick connect fitting is attached to the sample chamber lid. xi. Click Ok on the Autotest screen and the test is started. xii. When the test has ended, a Test Done dialogue box appeared and clicked Ok. xiii. Test results may be viewed and analyzed using CapRep. Select Report from the main CapWin menu and clicked on Execute Report to access the data from the test. xiv. Steps (iii) to (xiii) are repeated for different pressure gradient (10, 15, 20, and 30) and two other samples with thickness 0. 2 cm and 0. 3 cm. 7. 0 ResultFor PP1 sample with diameter, d= 3cm and thickness, L= 0. 1cm. Differential Pressure (psi)| Average Permeability| 5| 0. 23993| 10| 0. 17461| 15| 0. 13315| 20| 0. 11792| 30| 0. 096196| For PP3 sample with diameter, d= 3cm and thickness, L= 0. 2cm. Differential Pressur e (psi)| Average Permeability| 5| 0. 52692| 10| 0. 36709| 15| 0. 33807| 20| 0. 26133| 30| 0. 19841| For PP5 sample with diameter, d= 3cm and thickness, L= 0. 3 cm. Differential Pressure (psi)| Average Permeability| 5| 1. 0541| 10| 0. 70806| 15| 0. 50627| 20| 0. 37001| 30| 0. 29489| 8. 0 Calculations i) PP1 sample with diameter, d= 3cm and thickness, L=0. cm at ? P= 5psi. From the plotted graph, q/A against ? P/L, a straight line obtained gives a gradient of 0. 148. From the gradient of graph, we can compute the permeability, k. Gradient = y2-y1x2-x1 = 4-127-6. 9 = 0. 148 Gradient = k µ 0. 148 = k0. 001 Pa. s , k = 0. 000148 m2 @ 1. 48? 10-4 m2 The permeability, k obtained from the CapWin software is 0. 23993 cm2 @ 2. 33993? 10-5 m2. ii) PP1 sample with diameter, d= 3cm and thickness, L=0. 1cm at ? P= 30psi. From the plotted graph, q/A against ? P/L, a straight line obtained gives a gradient of 0. 148. From the gradient of graph, we can compute the permeability, k.Gradient = y2-y1x 2-x1 = 12-6195-98 Gradient = k µ 0. 062 = k0. 001 Pa. s , k = 0. 000062 m2 @ 6. 2? 10-5 m2 The permeability, k obtained from the CapWin software is 0. 096196 cm2 @ 9. 6196? 10-6 m2. iii) Calculations of Reynolds number At ? P= 5 psi, q= 2. 5424? 10-6 m3/s, V= 1. 7971? 10-9m/s, ? =1000kg/m3 Re= ? VD µ=10001. 7971? 10-9(0. 03)0. 001= 5. 3913? 10-5 (laminar flow) At ? P= 30 psi, q= 5. 2564? 10-6 m3/s, V= 3. 7155? 10-9m/s, ? =1000kg/m3 Re= ? VD µ=10003. 7155? 10-9(0. 03)0. 001= 1. 1147? 10-4 (laminar flow) 9. 0 Discussion Permeability of PP1 sample membrane at ? P = 5 psi and ?P = 30 psi are k = 0. 23993 cm2 @ 2. 33993? 10-5 m2 and k = 0. 096196 cm2 @ 9. 6196? 10-6 m2 respectively. By plotting graphs of q/A against ? P/L, the compute permeability is 1. 48? 10-4 m2 at ? P = 5 psi and 6. 2? 10-5 m2 at ? P = 30 psi. The values are different as being compared. This might due to the different techniques involved in computing the values of permeability. The values from the liquid permea meter are more accurate as the values are computed as the test runs. Compared to the ones computed by plotting the graph, there might be some minor errors that make the values to be different from each other.Apart from that, the apparatus might not function effectively or might be having some problems. Besides that, the sample membranes used are the old ones. As they are often used for testing, this might change or alter their permeability values as they oftenly pass through by fluids. For the tests, laminar flows did occur. Laminar flow occurs at the region in which the points from the graph intersect the straight line plotted. For both ? P = 5 psi and ? P = 30 psi, laminar flow did occur. For ? P = 5 psi, the Reynolds number is 5. 3913? 10-5 which is representative for laminar flow. For ?P = 30 psi, the Reynolds number is 1. 1147? 10-4 which is also representative for laminar flow. For graph at ? P = 5 psi, there is only one point that intersects the straight line (best line of fi t) plotted. This is because the pressure gradient is low so there is not much data for permeability is acquired as the test runs. It is different for graph at ? P = 30 psi, there are several points that are intersect or join by the straight line plotted. As the pressure is elevated to 30 psi, there are many data obtained for permeability at different pressures as the pressure increasing to 30 psi.As laminar flow is proven to occur in the test, so Darcy’s equation can be used. From the Darcy’s equation, we can relate that permeability of a medium is directly proportional to volumetric flow rate, dynamic viscosity of fluid and thickness of medium and is inversely proportional to pressure gradient. For membrane sample PP1 with thickness of 0. 1 cm, we can see that the average permeability of the membrane is decreasing with increasing pressure gradient. This case occurs for other two membrane samples, PP3; thickness of 0. 2 cm and PP5; thickness of 0. 3 cm.Permeability dec rease as pressure gradient increase because the fluid, in this case water have to overcome certain pressure as they flow through the membrane samples. The pressure gradient acts as resistance to the flow. The higher the resistance, little or less fluid can flow through the medium over a given time. It is also shown that for the same pressure gradient by using membranes with different thickness, the average permeability is higher for sample which is thicker. The different between the three membrane samples is only the thickness. They are of same cross-sectional area.As fluid flow they overcoming the same pressure gradient, same cross-sectional area, the amount of fluid that can be passed through is much dependent on the thickness. When the fluid passes through membranes with large thickness, they are experiencing much effect through the membranes causing the permeability to be higher than the ones obtained with small thickness. 10. 0 Conclusions The objectives of this experiment are achieved. The permeability of three membrane samples are obtained from the liquid permeameter-elevated pressure tests. The permeability of the PP1 sample at ? P = 5 psi and ? P = 30 psi are k = 0. 3993 cm2 @ 2. 33993? 10-5 m2 and k = 0. 096196 cm2 @ 9. 6196? 10-6 m2 respectively. Laminar flow conditions are also created where Darcy’s equation can be used. From the data obtained from the tests, we are able to deduce relationship between permeability and other components of Darcy’s equation. Although the compared values are differing from the each other, we can say that the experiment is still a success as we are able to achieve the main objectives. 11. 0 Recommendations In order to get more accurate results, ensure that the apparatus used (liquid permeameter) is in good condition and is maintained regularly.Besides that, using new or fresh membrane samples can improve the results. Not necessarily that for every test to use new ones but replacing old ones with new ones a s when they are in bad condition would help. The average permeability value would be more accurate and the values obtained from the graph would be of not much difference. 12. 0 References i) Brown, G. (n. d. ). Darcy's Law. Retrieved October 03, 2012, from Darcy's Law Basics and More: http://biosystems. okstate. edu/darcy/LaLoi/basics. htm ii) Darcy's Law. (n. d. ). Retrieved October 03, 2012, from Darcy's Law: http://www. ldeo. columbia. du/~martins/hydro/lectures/darcy. html iii) Laminar Flow. (n. d. ). Retrieved October 03, 2012, from Hyper Physics: http://hyperphysics. phy-astr. gsu. edu/hbase/pfric. html iv) Laminar, Transitional or Turbulent Flow. (n. d. ). Retrieved October 03, 2012, from The Engineering ToolBox: http://www. engineeringtoolbox. com/laminar-transitional-turbulent-flow-d_577. html v) Oilfield Glossary. (2012). Retrieved October 03, 2012, from Schlumberger: http://www. glossary. oilfield. slb. com/Display. cfm? Term=permeability vi) Permeability. (n. d. ). Retri eved October 03, 2012, from NDT Resource Center: http://www. ndt-ed. rg/EducationResources/CommunityCollege/MagParticle/Physics/Permeability. htm 13. 0 Appendices Graph1: q/A against ? P/L at ? P=5psi Graph 2: q/A against ? P/L at ? P= 30 psi Figure 1: Liquid permeameter Figure 2: Sample chamber Figure 3: Pressure cylinder Figure 4: Fluid bin Figure 5: The discharge port of water Figure 6: Yellow chip pullers For ? P = 5psi, ?P/L| q/A| 0| 0| 15. 919| 3. 1536| 19. 185| 3. 4128| 22. 623| 3. 6631| 26. 519| 3. 9394| 29. 866| 4. 1191| 32. 784| 4. 1995| For ? P = 30 psi, ?P/L| q/A| ? P/L| q/A| ? P/L| q/A| 0| 0| 74. 1191| 6. 529| 142. 874| 8. 724| 5. 4528| 2. 274| 77. 339| 6. 8886| 146. 066| 8. 948| 12. 8498| 2. 9474| 81. 186| 6. 7182| 150. 051| 9. 209| 15. 9759| 3. 1624| 84. 434| 7. 2454| 153. 216| 9. 497| 19. 0896| 3. 4502| 88. 364| 7. 1371| 156. 263| 9. 495| 22. 5177| 3. 7128| 91. 687| 7. 0481| 159. 821| 9. 957| 26. 6236| 4. 057| 94. 541| 6. 9633| 163. 875| 9. 468| 29. 9179| 4. 1482| 97 . 858| 7. 126| 167. 619| 9. 357| 32. 471| 4. 2458| 98. 775| 8. 4774| 170. 453| 9. 444| 35. 9619| 4. 449| 100. 678| 7. 2947| 173. 287| 9. 683| 39. 2052| 4. 7036| 104. 677| 7. 94| 176. 741| 9. 692| 44. 044| 5. 186| 107. 986| 7. 9996| 180. 85| 10| 47. 068| 5. 1119| 116. 322| 8. 1839| 184. 373| 10. 5| 49. 7694| 5. 697| 118. 307| 8. 042| 187. 213| 10| 53. 2892| 5. 3991| 122. 31| 8. 399| 190. 655| 11. 1| 56. 6594| 5. 51| 125. 161| 8. 437| 193. 936| 10. 19| 59. 9503| 5. 8797| 128. 615| 8. 379| 198. 032| 10. 3| 63. 3005| 6. 0421| 132. 325| 8. 492| 201. 679| 10| 66. 792| 6. 2865| 135. 517| 8. 692| 205. 078| 10| 69. 7064| 6. 1141| 138. 523| 8. 76| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

Chuck E Cheeses

Chuck E. Cheese’s â€Å"Where A Kid Can Be A Kid† Yvonne Bell-White The Catholic University of America This paper was prepared for Financial Decision Making, MBU 652, Summer 2011, taught by Professor Howard S. Steed, PhD Abstract In this analysis paper I choose to learn about Chuck E. Cheeses. I demonstrate my understanding of the categories of Financial Statement Analysis, which includes – profitability, liquidity, activity and debt (leverage). Our class was assigned a company for financial scrutiny and to obtain financial statements (Balance Sheet, Income Statement, and Cash Flow Statement), from the company’s most recent Annual Report. We are to prepare a written analysis of the organization with the following requirements: 1) describing the product or service marketed by the company; 2) evaluate the company in terms of the financial ratios we believe are most helpful in understanding the company’s performance; and 3) include a financial forecast for the said company for the next 2-3 years. We were asked to include an estimate of the company’s prospects for the company industry for the years ahead. Finally, the students were asked to give an oral presentation to the class using this information. I choose to do my analysis of a company called Chuck E. Cheese’s. This paper will explain what I’ve learned about the financial statement analysis categories. Chuck E. Cheese’s â€Å"Where A Kid Can Be A Kid† This class was assigned a company for financial scrutiny and to obtain financial statements (Balance Sheet, Income Statement, and Cash Flow Statement), from the company’s most recent Annual Report. We are to prepare a written analysis of the organization with the following requirements: 1) describing the product or service marketed by the company; 2) evaluate the company in terms of the financial ratios we believe are most helpful in nderstanding the company’s performance; and 3) include a financial forecast for the said company for the next 2-3 years. We were asked to include an estimate of the company’s prospects for the company industry for the years ahead. Finally, the students were asked to give an oral presentation to the class using this information. I choose to do my analysis o f a company called Chuck E. Cheese’s. In 1977, Nolan Bushnell, also known as the father of the video arcade industry, for his formation of Atari, Inc. , founded Chuck E. Cheese Pizza-Time Theaters. It’s a nationally recognized leader in family dining and entertainment. Chuck E Cheese’s is located in 48 states and seven foreign countries or territories. Each store feature musical and comic entertainment by robotic and animated characters, arcade-style and skill-oriented games, rides and many other activities to appeal to families and children between the ages of two to twelve. Chuck E. Cheese stores offers a variety dinning selection consisting of pizza, sandwiches, salad bar and desserts. There business development strategy is focused on maintaining and evolving their existing stores, by developing high sales volume company-owned stores in primarily densely populated areas and selling franchises in domestic and international markets. Chuck E Cheeses are typically opened in shopping centers or free standing buildings near shopping centers As of January 2, 2011, they employ approximate 17,300 employees – 17,000 field based and 300 located at the headquarters. Before investing into a company you should follow expert’s advice. Experts insist on the importance of research and doing your homework before you decide to invest in a company. In other words, dig deep into the company’s financial statement and examine everything from the auditor’s report to the company’s references. Begin your homework by doing a Financial Statement Analysis. The financial statement analysis is how you will identify the company’s financial strengths and weaknesses from understanding the items of the balance sheet. The categories of the financial statement analysis are: Profitability, Liquidity, Activity and Debt (Leverage). Profitability can be expressed as a group of financial metrics used to measure a company’s ability to make a profit as compared to its expenses, including costs acquired during a particular period of time. In doing my homework on my company, Chuck E. Cheese’s, I began with Profitability from the categories on the financial statement analysis, and continued to move through the other categories – Liquidity, Activity and Debt (Leverage). PROFITABILITY Profitability: return on assets (ROA); return on equity (ROE), price/earnings ration (P/E ration), dividend yield and dividend pay-out ration. Return On Assets (ROA) determines the effectiveness with which a company distributes and manages its resources. ROA is expressed as net income divided by the average total assets. The return on assets for Chuck E. Cheese’s is 7%. The amount of net income returned as a percentage of shareholders equity. Return On Equity (ROE) determines a company’ profitability by showing how much profit a company makes with the money shareholders have invested. Therefore the Return on Equity (ROE) is expressed as a percentage and calculated as the net income/average owners’ equity. The return on equity for Chuck E Cheese’s is 33% Assessing the ration of a company’s current share price compared to its per-share earnings is called the Price/Earnings Ratio (P/E Ratio) and is calculated as the market price of common stock divided by the earnings per share and he P/E Ratio for Chuck E. Cheese’s is . 15%. The Dividend Yield is a way to compare the attractiveness various dividend paying stocks. The dividend yield advises an investor the yield he/she can look forward to if he/she purchases stock from the company. To calculate the dividend yield, divide the annual dividend per share by the market price per share. Chuck E Cheese’s did not have the figures written in its annual report to perform calculations. The Dividend Pay-Out Ratio tell how well a company’s earnings supports the dividend payments. It is calculated by dividing the annual dividend per share by the earnings per share. Chuck E Cheese did not have the figures written in its annual report to perform calculations LIQUIDITY One determinant of a company’s debt capacity is the liquidity of its assets. An asset is liquid if it can be readily converted to cash, while a liability is liquid if it must be repaid in the near future. Liquidity is the company’s working capital, current ration and acid-test ration. The components of Liquidity are Working Capital, Current Ratio and Acid Test Ratio. The Working Capital measures both the company’s effectiveness and it’s immediate financial health. The working capital ration is calculated by subtracting the current assets from the current liabilities. The Working Capital for my company is $-17,210. A positive working capital means that the company will be able to pay its short-term liabilities. A negative working capital means a company can not pay its short-term liabilities. The Current Ration is used to provide an idea of the company’s ability to pay back its short-term liabilities. To calculate the current ration you would divide the current assets by the current liabilities. Chuck E. Cheese’s current ration is . 98. A high ration indicates a copy can pay its obligations. But on the other hand, if the current ration is under 1, the company would not be able to pay its obligations. The Acid-Test Ratio serves as a sign that help determine whether a company has enough short-term assets to cover the company’s immediate liabilities with out selling its inventory. The acid-test ration is calculated by cash, plus accounts receivable divided by current liabilities. The acid-test ratio for Chuck E. Cheese’s is 58%. If the ratio is less than 1 a company cannot pay their current liabilities and should be looked at with extreme caution. ACTIVITY MEASURES The Activity Measure measures the volume of activity and is used as a basis for allocating costs. To activity measure includes Accounts Receivable Turnover and Inventory Turnover. The Accounts Receivable Turnover (A/R) ratio is the number of times that accounts receivable amounts are collected within the year. If the A/R Turnover is high the company has a tight credit policy. If the A/R Turnover is low it says the company has a collection problem. To calculate the A/R Turnover – divide the sales by the average A/R. The A/R Turnover for Chuck E Cheese is 27. 57 The Inventory Turnover the Cost of Goods Sold (COGS) divided by the Average Inventory. This show how many times a company’s inventory is sold and replaced of a period of time. The Inventory Turnover for my company Chuck E. Cheese’s is 53. 44 (number of days for turnover) DEBT (Leverage) The Debt (Leverage) includes the categories of Debt Ratio and Debt/Equity Ratio. The Debt Ratio explains what part of a company’s debt has relative to its assets. It gives an idea of leverage and the potential risks the company could face. To calculate the Debt Ratio divide the total liabilities by the total liabilities plus owners’ equity. The Debt Ratio for Chuck E. Cheese’s is 79. The Debt/Equity Ratio can be calculated by dividing the total liabilities by the total owners’ equity. The Debt/Equity Ratio for Chuck E. Cheeses’ is . 39. The Debt/Equity Ratio measures a company’s financial leverage and says what proportion of equity and debt the company is using to finance its assets. Chuck E. Cheeses have an opportunity to further expand globally. They have formalized a strategic plan for international growth and are actively seeking franchise partners in key Latin American countries including Argentina, Brazil, Columbia, Costa Rica, Mexico and Panama. As with any company, doing your research and homework before investing is very important. I enjoyed learning about Chuck E Cheese finance and look forward to maybe one day owning my own franchise. After my research I have new idea for expansion and one day hope to invest.