The Theory Of Functionalism

The Theory Of Functionalism The hypothesis of functionalism is the most established, and may likewise be the most prevailing hypothetical viewpoint of humanism. Functionalism concurs that cerebrum states are answerable for mental states, however differs that they will in general be indistinguishable from one another. It is the contention from a functionalist point of view, that, the cerebrum movement or neurological states are what acknowledges mental states, which thus lead to the conduct yield in a physical manner. It has an expansive assortment of positions which it is equipped for articulating in a wide range of different structures. They can be arranged into the accompanying; Diagnostic functionalism: The most generally utilized type of functionalism, which depicts the causal job as an expected set of responsibilities of mental states, which are gotten from our ideas. Logical functionalists guarantee, that, the determinations for a useful job (sets of responsibilities) for mental states are from the earlier. The subsequent rendition is Physchofunctionalism; which dismisses the possibility of behaviorism in brain science, just as reject the physical part of the psyche. The third would be Machine-state functionalism: This similarity was advanced by Hilary Putnam, a notable American thinker, who was motivated by the analogies of psyche (the Turing machines) which can process every given calculation. In non-specialized terms, the brain is an extremely intricate PC program. It is a state wherein given an info B, and such and such will in general occur. A model is the point at which we input a lot of numbers into the PC through a console/programming. It suggests that cerebrum states are exercises which are low level, while assisting with acknowledging mental states which are significant level. To enable the peruser to comprehend about the thought which was portrayed above, I will utilize the more typical functionalist guide to examine the connection between the product and the PC. For instance, we type the numbers 5 in addition to 8, on the one level (low level), the PC is subject to the product for input. The product inside the PC is computing the response to the numbers entered, while at the other level (elevated level), the data is yield on the screen. In this case, the functionalists would contend that the procedure of count would be discharged by the equipment (screen). In this way, the product which is utilized by the equipment, goes about as the capacity job. This PC model can be utilized to convert into the provisions of the cerebrum. The psychological states are subject to the cerebrum states similarly, as the PCs programming is reliant on the computerãÆ'⠯ã‚⠿ã‚â ½s equipment for the yield of the data (screen) and the other way around. In the functionalists see, the mind states help to understand the psychological states which works as an all out useful framework. With this, it is implied that the brain is comprised of the absolute conceivable useful mental states that it can have. These will cooperate with the sources of info (programming), and the equipment (screen) together, before the two of them produce the yields. Functionalists state that on the off chance that we consider mental states likewise, at that point perhaps one day the machine may do the reasoning or be falsely insightful. Along these lines, we could contrast our procedure of deduction with a PC programming, which thusly could run on a few unique machines. The idea for a machine is the idea of a computerized reasoning. This knowledge can be delegated frail AI or solid AI. This kind of knowledge would make it conceivable that one day a PC could be created with its very own psyche. As such, it would think, envision, and reason. It could in the long run do all the things we partner with the human cerebrum. In a feeble AI model, it is contended that the insight of a PC seems to think all alone, however it is really oblivious a similar way human minds are. In the powerless AI, much the same as in the human cerebrum, an information must happen so as to create a yield. When contrasting functionalism and dualism for instance, it has clear qualities. Functionalism attempts to clarify conduct, instead of simply watching it. It utilizes the physical world to clarify the psychological states, consolidating physical contributions with the yields, instead of isolating the physical world from the brain. In Dualism for instance, mental and physical states are both independent, all in all terms, the two can't be absorbed to frame one unit (Levin, 2009). One of the most renowned thinkers in the seventeenth century, Descartes, who viewed himself as a Dualist, additionally contended against the idea of mechanical and psyche properties to be the equivalent (Cottingham, p. 221, 2012). His idea persuaded that the psyche and the body could in fact exist without each other. On the other hand, how could the brain work without the physical? This would not be conceivable. For instance, on the off chance that we accept torment for instance. Agony simply doesn't occur in our mind. Agony can be related to something material (physical) which sends a neurological message to our cerebrum that something harms (mental). As should be obvious, the physical and mental angles relate, as opposed to act independently. Another quality of functionalism, is that an utilitarian framework can be feasible in various manners. For instance, on the off chance that we allude back to the PC similarity, a similar program ought to be usable on various PCs. Conceivably, PCs could have minds like our own, as long as they can play out the a few capacities as us. Then again, a few scholars think functionalist records of mental states will in general be excessively liberal. For a few, it is a slip-up for a PC and its product to have indistinguishable mental states from a human. A portion of these thinkers have contended that a PC and programming would be not able to show veritable feelings. It would likewise be unequipped for cognizance without somebody contributing data for example composing the numbers 5 in addition to 8 into the product. Functionalism appears to preclude the qualia of feeling or any cognizance simultaneously. This could be to some extent that is incorporates non-living things, as conceivable mental states. A few pundits of functionalism do contend that psychological conditions of living things (people) or frameworks (PCs) should incorporate a record of qualia (feelings and cognizance). Another issue with functionalism would be that PCs are non-living, it doesnt not utilize its own approaching data for their conduct as do people and other living things (non-human creatures). With respect to non-living things, they are not frameworks or living things which depend on endurance; and they don't have personal circumstances of their own. These are a portion of the contemplations which dissenters contend for, and call for functionalism to refine its hypothesis. The base is attempt to recognize the living things from the non-living. Would the issue with functionalism be replied if we somehow happened to envision the psyche as though it were bound together? Maybe one could take a gander at individual mental states and envision that some of them could depict certain angles? for example memory and tackling issues, yet no sort of feeling or cognizance. In the event that the PC for instance would depict any of the previously mentioned, for example, memory or taking care of issues without anyone else, one would not discuss the PC with having a brain or not. One would talk about the PC as having had the option to tackle an issue and utilizing its ability for memory to store the information and so on. Would one inquire as to whether it has a psyche, albeit, one would prefer to enquire about its ability for memory, its double dealing and so forth. The qualities and shortcomings have been expressed for functionalism. It is an odd hypothesis that non-living things could offer ascent to various mental occasions. With the goal for us to comprehend on how our psyche functions, we have to comprehend these procedures. Just one sort of cerebrum state is required by functionalism, so as to relate with occasions in our mind. It additionally appears, that, functionalism is subject to things which are physical as opposed to including mental occasions from the start. It unquestionably forgets about feelings and thinking. The reason for functionalism is by all accounts input yield as it were. Lets state, somebody steps on a pin and they yell. The functionalists see appears to show that fake creatures and frameworks could deliver their own awareness and contemplations. Regardless of whether mechanical progressions of extraordinary extent can be made, a machine couldn't duplicate the sentiments and contemplations of a human. These models would incorporate pressure, tension, anxiety and so on.. It is odd to believe that a machine could be creating a character that feels anxious or has an ethical commitment to things. It maybe perhaps the case that functionalists are diving extremely somewhere down so as to discover and legitimize their hypothesis on mental states and mental occasions.

Free The Monk and the Riddle Book Review Sample

Free The Monk and the Riddle Book Review Sample Question One: What was astonishing or distinctive about this book comparative with what you think about business enterprise? Prior to perusing this book, the part of business enterprise that I had as a top priority was that of searching for circumstances wherein to accomplish budgetary fulfillment throughout everyday life. Growing up, I comprehended that being a business person involved setting up organizations and adventures, which will achieve major money related returns. Be that as it may, perusing The Monk and the Riddle gave me an alternate point of view regarding the matter of being or turning into an effective business visionary. The creator gives definite desires from the business enterprise field that is totally different from what I had as a main priority. As indicated by the book, being a business person ought not be about the outcome which a great many people bank on monetary accomplishment however should concentrate for the most part on the excursion towards achieving the set objectives (Komisar and Kent 21). Business enterprise should lay accentuation on administration, the board, energy, and drive which help characterize a person. At long last, a business visionary will be compensated from the excursion embraced in the business instead of the result. Being a fruitful business person implies that an individual, through the business, picked up fulfillment monetarily as well as in understanding. Any eventual business visionary needs to set up objectives which takes into account accomplishment of fulfillment in work itself. Another outstanding contrast regarding the matter is the capacity of any business visionary to give up off control. The attitude of all business visionaries is that they need have control and impact in their endeavors. Be that as it may, the creator completely investigates the upsides of giving out control to other capable individuals so as to take into consideration the development of the business. While examining about administration, the creator encourages business pe ople to get individuals to do what should be accomplished for the business and this could wind up being improved. Authority is a craftsmanship and business visionaries must urge individuals to surpass their own desires, motivate individuals to be incredible and get them all to cooperate in amicability. Question Two: What are your impressions of Lenny? For what reason was Randy ready to give Lenny his time? The impression I got of Lenny is that of any contemporary business person endeavoring to have his dare to get in the market. Lenny has extraordinary thoughts of what he needs his dare to be however has his eyes shut to the truth of business enterprise. From the conversation introduced by his collaboration with Randy, it is obvious that Lenny appears to be certain about his way to deal with business and the proposed marketable strategy however needs sight on the sound essentials of the underlying industry thought. Lenny has the mindset of moving in the direction of accomplishing budgetary targets from his endeavor. From the thought introduced to Randy, the eventual business person has confused expectations on the business front wanting to accomplish everything without help from others. Lenny accepts as a business person, he ought to be in charge of everything in his business from improvement to usage. Nonetheless, this is an off-base impression of the excursion towards achieving fulfi llment in work. Lenny depicts a commonplace Eastern pushy-sales rep suit, engaged with the business for the cash compensates as it were. (Lambing and Charles) Regardless of the desire introduced to Randy by Lenny, the last is prepared and ready to help him on the grounds that as a built up business visionary it is basic to give rules to other would - be business visionaries. Randy cautiously tunes in to Lenny on the grounds that he needs the youthful business visionary to drop the potential money related prizes point of view and spotlight on fulfillment. All the more along these lines, Randy gives guidance, contacts, and administration for business people needing experience like Lenny. The fundamental job Randy plays is aiding would-be business people through the underlying period of business improvement and afterward resigns to the less focal job of guide. Randys guidance to Lenny is that a pioneer with numerous thoughts however needs vision and enthusiasm will lead his business to the channel. Question Three: What do you consider the Deferred Life Plan? In the book, the writer takes note of the propensity of individuals in the contemporary world yielding their current life to difficult work and winning a living to ensure their future presence. In more straightforward terms, this is carrying on with a conceded life plan whereby one denies oneself an average way of life for the sake of securing what's to come. The creator contends that individuals don't need to forfeit their lives so as to achieve things they are enthusiastic about, be it busy working or in business. In my comprehension, the hypothesis and practicability of conceded life plan is genuine among youngsters particularly those joining the work advertise. The vast majority participate in exercises, work, or business, which they have little enthusiasm however hold tight to them for budgetary fulfillment. Curiously, this budgetary fulfillment doesn't come to fruition and the very individuals wind up losing on different fulfillments they could pick up busy working. Putting off what you truly love to do and taking part in different exercises or business, which is less; palatable is the start of driving a conceded life plan. By not chipping away grinding away and business, one is enthusiastic about methods conceding feeling of fervor and enthusiasm for what you truly care about throughout everyday life. Komisar further clarifies that is buckling down isn't conflicting with the conceded life plan however buckling down for things that bring less fervor and intrigue is a piece of conceded life plan (Komisar and Kent 35). Contrasting the hypothesis and the genuine life setting, with the conceded life plan, one winds up prevailing on things, which don't make a difference in their life. All the more naturally, conceded life plan prompts accomplishing at something, which has no meaning of the genuine, you. As people, we have to guarantee that we get fulfillment in whatever we do and this ought to be at a sensible age. It isn't fulfillment when we need to hold as long as sixty years or more to begin appreciating life. Question Four: What do you consider the development of Lennys opportunity? What worth does Lenny get from Randy and the VCs? The development prove in Lennys opportunity is extraordinary as it offers him and different specialists to take part in exercises, which realize fulfillment. The open door made doesn't just guarantee budgetary rewards yet in addition work fulfillment. The open door further presents Lenny with an opportunity to take part in an undertaking for the correct reasons as opposed to looking for money related fulfillment as it were. In looking for help from individuals progressed in the issues of enterprise, Lenny acquires data on different parts of business. Randy offers Lenny inside and out guidance on what investment firms require, concentrating on the attributes of CEOs during different periods of the foundations. In this manner, Lenny comprehends the contrast between a decent director and a decent pioneer, which as a future CEO of a business is important data. The executives and initiative aptitudes are an essential for anybody planning to set up any sort of adventure. With time, the proprietor of the business should give up off the control of the business and this, Randy clarifies requires significant administration aptitudes. Lenny discovers that the pith of business is for the business person to procure all round fulfillment at all phases of life. The exercises occupied with by the business person ought not confine the laborers from accomplishing fulfillment at all levels. Being a business person implies setting out on an excursion for silly and energetic individuals who have faith notwithstanding question. All the more along thes e lines, the importance of imparting thoughts on business enterprise to other experienced individuals will help support the underlying objectives. VCs are driven by hazardous thoughts consequently need potential pioneers to direct them and not simply devotees.

Impulsive Decisions

Impulsive Decisions Happy Holidays everyone! I cant believe another semesters done and over with pushing me officially past the halfway point at MIT. (AHHH). Im now sitting at home, trying to relax but not quite, because there is a LOT of work to be done. But how could this be! Its Christmas! Well, lets back up a little bit… For one reason or other that I cannot fully explicate, this semester has been a blur, passing by faster than I could process. While one always needs a certain level of conscious judgment to go to classes, carry on coursework, etc., I feel like this semester, Ive been putting school on cruise control. This functionality might come from having been at MIT for a while already from becoming an upperclassman and developing a programmed rhythm for handling a semester, all the way from pre-registering classes to finals… A parallel (or antithesis?) to this apparent cruise control on the school side is a burgeoning urge to just LET. LOOSE. and jump on everything not class related. Im not sure if this makes sense, but basically this has been an impulsive semester. Early in the school year, I kept getting emails about spending IAP  all-expenses paid in Korea, teaching kids science/English. I never gave it a second thought, because its just not something I imagined doing during IAP. But one night in September, I was checking my emails, writing down my French Word of the Day and then  Korean Word of the Day, and then a lightbulb literally went off in my head. I could be learning Korean from these emailsor I could be learning Korean in Korea !? I mean, why CANT I be on the other side of the world during IAP? Why MUST I do something completely career-related (the career part of which Im not totally sure about yet anyway)? So I just grabbed a notebook, jumped on my bed, wrote down ideas, and sent in an application. So here I am on Christmas Day, putting together several weeks of teaching materials for this Jeju Global Initiative, which is a very new project aiming to connect MIT students with talented young students in Korea who already have some experience in English. The bigger goal here then is to inspire an interest in science, technology, debate, and thinking-out-of-the-box in general. Twenty-two students, myself included, will be heading to Jeju Island, Korea and teaching courses on site at Jeju National University. Over the month of January, I will be teaching a three-week class on the impact of design and a one-week class on the power of modern media. Were also doing night-time lectures on random, fun topics. Some of my topics are: typography, American slang, hip-hop, and rapid prototyping. And Jeju Island itself isnt too shabby :P But well be going in Januaryso maybe itll be more like this. Anyways, side story This semester, I also got my ears pierced for the first time. You know, if youre a girl and you didnt get your ears pierced by your parents when you were a baby, or before 7 years old, or during that preteen phase when everyone did it its going to take some convincing. Or maybe I just think too much. Anyway, Ive been considering getting my ears pierced for several years now, but  just couldnt go through with it. The first phase of doubt was simply pain. (But I didnt want to admit to being a baby and got over that.) Then it was the practical concern of too much maintenance and inconvenience. (Again, this seemed lame.) And most recently, I preoccupied myself with a more high-brow excuse: I dont want any part of my body altered from the way it originally was. (Yeah….ok.) Despite this towering pyramid of the stages of psychological defense, I went to a piercing parlor with my good friend Juhee on a random Wednesday and got it done. (Shoutout to the Juhee who got the industrial piercing that day and made sure I did not back out).  At the turn of November, I havent really gotten over all those previous concerns but getting my ears pierced suddenly felt like somethingIjusthavetodonow. Inexplicable, but I did it! And its done! And theres no going back! And Im very happy about it :) I was chatting with a friend in studio in the middle of the night about one thing weve both learned this semester so much can change in just one week.  It took just a minute or two for me to decide I want to do the Jeju program, and another to decide on pierced ears. Live anticipating nothing but surprise, often from yourself. :) On that note, I am leaving on Wednesday and will update from Korea! Have good winter breaks everybody ~

Romeo - A Character Profile From Romeo and Juliet

One of the original star-crossd lovers, Romeo is the male half of the ill-fated pair who drive the action in the Shakespearean tragedy, Romeo and Juliet. Much has been written about the origins of the character, as well Romeos influence on other young male lovers throughout Western literature, but rather than a role model to be emulated, Shakespeares Romeo is an enduring example of young love gone horribly wrong.   What Happens to Romeo The heir of the House of Montague, Romeo meets and becomes enamored with Juliet, the young daughter of the House of Capulet. Most interpretations of the story estimate Romeo to be about 16 years old, and Juliet to be just shy of her 14th birthday.  For reasons unexplained, the Montagues and Capulets are bitter enemies, so the young lovers know their affair will anger their families, however, the titular couple isnt interested in family feuds, and instead, they choose to pursue their passion.   While Romeo and Juliet secretly marry with the help of his friend and confidant, Friar Laurence, the two are doomed from the start. After Juliets  cousin Tybalt kills Romeos friend Mercutio, Romeo retaliates by killing Tybalt. For this, he is sent into exile, returning only when he hears of Juliets death. Unbeknownst to Romeo, Juliet—who is being forced to marry Paris (a wealthy suitor favored by her father) against her will—has come up with a scheme to fake her own death and be reunited with her true love. Friar Laurence sends a message to Romeo informing him of her plan, but the note never reaches Romeo. Romeo, truly believing Juliet is dead, is so heartbroken, he kills himself in a fit of grief, at which point, Juliet awakens from the sleeping draught shes taken to find Romeo is no more. Unable to bear the loss of her love, she too, kills herself—only this time, for real.   Origins of the Romeo Character Romeo and Juliet make their first appearance in Giulietta e Romeo, a 1530 story by Luigi da Porto, which was itself adapted from Masuccio Salernitanos 1476 work Il Novellino. All of these works can, in some way or other, trace their origins to Pyramus and Thisbe, another pair of ill-fated lovers found in Ovids Metamorphoses. Pyramus and Thisbe live next door to each other in ancient Babylon. Forbidden by their parents to have anything to do with one another—thanks again to an ongoing family feud—the couple nevertheless manages to communicate through cracks in the wall between the family estates. The similarities to Romeo and Juliet dont end there. When the Pyramus and Thisbe finally arrange a meeting, Thisbe arrives at the predetermined spot—a mulberry tree—only to find it being guarded by a menacing lioness. Thisbe runs away, accidentally leaving her veil behind. Upon arriving, Pyramus finds the veil, and believing the lioness has killed Thisbe, he falls on his sword—literally. Thisbe returns to find her lover dead, and then she too dies of a self-inflicted wound from Pyramus sword.   While Pyramus and Thisbe may not have been Shakespeares direct source for Romeo and Juliet, it was certainly an influence on the works from which Shakespeare drew, and he used the trope more than once. In fact, Romeo and Juliet was written in a concurrent timeframe to A Midsummer Nights Dream, in which Pyramus and Thisbe is staged as a play within a play—only this time for comedic effect. Was Romeos Death Fate? After the young lovers die, the Capulets and Montagues finally agree to end their feud. Shakespeare leaves it mostly to his audience to decide whether or not Romeo and Juliets deaths were predestined as part of the legacy of their families longstanding enmity, or if perhaps the conflict might have been ended by more peaceful means had the families been willing to embrace love rather than hate.

Greek Mythology An Oral Tradition - 1449 Words

Greek mythology was an oral tradition that began in the Bronze Age. Greek mythology was used as a means to explain the environment, the natural phenomena they witnessed, and the passing of time through days, months, and seasons (Cartwright). Around 700 BC, a poet named Hesoid, offered the first origin story of Greek mythology. The Theogony details an elaborate family tree of gods and goddesses who evolved from a primeval void and descended from Earth, the sky, the sea, and the underworld (History.com). Later Greek writers and artists used and elaborated these sources in their work and compiled ancient myths and legends for contemporary audiences (History.com). For the Greeks, these ancient gods and goddesses had control over every aspect of their lives. The ancient Greeks believed there were a great number of gods and goddesses. They could be kind or mean, angry or pleasant, cruel or loving (â€Å"Gods and Goddesses†). 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A Successful Business Turn Your Passion Into Profits Essay

How To Start And Grow A Successful Business - Turn Your Passion Into Profits By Krisz Rokk | Submitted On January 01, 2013 Recommend Article Article Comments Print Article Share this article on Facebook 1 Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Krisz Rokk More than 60 percent of businesses close doors within the first year of starting operations because of a number of constraints. For you to start a business and succeed, you need to have a lot of determination, resilience, self-discipline and focus. Businesses such as Apple were able to succeed because their founders had adequate focus and inner drive to take the business to the next level. Here are eight key things you should know to start and grow a successful business: 1. Follow Your Inner Passion As a matter of fact, achieving success in life is not a prerequisite for those who want to be happy. However, happiness is mandatory if success is to be achieved. Success is achieved by those who love what they are doing. It is advisable for anyone who wants to start a business to select something that he or she loves the most, but this should be something that has a market. If you choose something that can t sell, there is high probability that your efforts will never pay off. 2. Work on YourShow MoreRelatedTurn Your Passion Into Profits Essay716 Words   |  3 PagesTurn Your Passion Into Profits By Marcia Weider Jul 2, 2011 In business, dreaming is serious business and the driving force for transformation. Without vision companies fail, and without our personal vision, our dreams, our lives, can become mundane, redundant -- even stagnant. When we are in touch with our passion we have more energy, enthusiasm and creativity. In a business context passion sells. 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Lump Sum Payment Was Recurring In Nature †Myassignmenthelp.Com

Question: Discuss About The Lump Sum Payment Was Recurring In Nature? Answer: Introducation Eric has procured etc various assets like collectibles, personal use assets, in the last year and because of appropriate information in the question, it is assumed that such assets are not held more than a year. As a result, the indexation advantage cannot be availed by Eric owing to such holding period and when the sale value of such assets exceed their acquisition cost, they become liable for capital gains tax (ATO, 2017). The reason behind the purchase of personal assets can be attributed to the fact that these facilitate self-use and enjoyment. Furthermore, if the procurement expense of these assets is more than $10000, then the capital gain tax shall incur on the sale of such assets. Eric has purchased a home sound system for $12000 in the given case. In addition, collectibles have been purchased for personal benefit as well and if their procurement expense is more than $500, then taxability of capital gain tax must incur upon the same (ATO, 2017). Eric has purchased collectibles like painting, an antique vase, and antique chair respectively. It can also be witnessed from the case that he has purchased some shares in a listed company that pursues a procurement expense of $5000. For computation of capital gain, the sales proceeds must be deducted from the procurement cost of the assets List of assets acquired by Eric Sale consideration Procurement expense of such assets Net capital loss or gain Antique Chair $3,000 $1000 $2000 Loss Antique Vase $3000 $2,000 $1000 Painting $1000 $9,000 $8000 Loss Home sound system $11000 $12,000 $1000 Loss listed company shares $20000 $5,000 $15000 Net capital gain= $5000 Based on the above computation, it can be seen that the losses for the year have been set-off with the income in the same year so that net capital gain can be determined. Furthermore, it must also be noted that the above-mentioned assets have formed part of the computation because their acquisition cost is more than what is specified for taxability of capital gain. Overall, after considering all such scenarios, the net capital gain comes to $5000 for Eric in the given year. It can be seen in the given case that Brian has been offered a loan of $1 million from his employer at a very special rate of interest that is repayable in monthly installments. This criterion is similar to that of a loan fringe benefit because, in this benefit, the employer attempts to offer his employee a loan at a special rate of interest (lesser than that of the required rate of interest). Sometimes, in such benefit, no interest is charged from the employee (Pratt Kulsrud, 2013). Thus, since in the given question as well, the criterion prevails, the loan offered to Brian will be considered a loan fringe benefit. Furthermore, to compute the taxability of such benefit, such required interest rate must be known and since the question does not specify the same, the interest rate on April 1, 2016, shall be considered the statutory or required interest rate. On April 1 2016, the rate was 5.65% respectively. The taxable amount of such benefit will be computed here without accounting for the deductible rule. For such purpose, the loan interest (actual interest) will be deducted from the loan interest (required or statutory interest). Therefore, loan interest (actual interest) = $1000000 * 1% = $10,000. Similarly, the loan interest (statutory) = $1000000 * 5.65% = $56,500 Taxable amount is equal to $56,500 - $10,000 that amounts to $46,500 The loan interest (required or statutory interest rate) will be computed after assuming that the same was actually payable by Brian. Hence, it amounts to $10,00,000 * 5.65% that gives $56,500 The loan amount of one million obtained by Brian has been utilized for meeting future obligations and other income generating purposes. He has used around forty percent of such loan. Therefore, the amount of hypothetical tax-deductible interest expenses will amount to $56,500 * 40% that gives $22,600 respectively. In this step, the same criterion as mentioned above will be considered, except the fact that the interest expense will not be hypothetical and instead, it will be the actual interest amount. Therefore, it shall amount to $10,000 * 40% that gives $4000 The amount obtained in step (d) will be subtracted from the amount obtained in step (c). Hence, it will amount to $18,600 ($22,600 - $4000) The final amount will be computed by subtracting the amount derived in step (e) from the amount in step (a). Therefore, this amounts to $27,900 ($46,500 - $18,600). Instead of monthly installments, if the interest was repayable after the expiry of the loan, then the deemed time of such loan would be considered from the time when such interest was paid or it became payable as a whole. It can be observed from the given question that an agreement has been entered into betwixt Jack and Jill so that they can purchase a rental property with the borrowed money. Besides, based on the agreement, both are going to serve as joint tenants of the purchased property. However, if they decide to sell the same in the upcoming future, Jill shall obtain 90% of the profits while Jack will attain the rest. In addition, if there is no gain from the sale of such property, the entire amount of loss shall be borne by Jack alone (Renton, 2005). Nevertheless, it can be seen that the loss amount of $10,000 incurred in the last year must be borne by Jack alone and the amount can either be added to his other income (if any) or can be carried forward in the next year. With the help of this right, Jack can easily make use of the loss amount to determine his total income for the year. Nonetheless, if the property is sold, there may be either a loss or income from the same. In the case of gain, both Jack and Jill shall share the profits but in the ratio of 10:90 and Jack can also utilize the losses incurred last year to set-off against the income accruing in the current year so that net income can be calculated. In contrast to this, if there is a loss from the sale of such property, Jill is under no obligation to bear the same because as per the agreement, the entire loss must be borne by Jack alone (Sadiq et. al, 2014). However, he can carry forward the same or set-off the same in order to ascertain his total income for the year. Therefore, on a whole, it can be concluded that in the given case, the sharing of profits is done in the ratio of 10:90 while the losses will be borne by Jack alone. Thus, the treatment of tax does not affect Jill in any circumstance and Jack remains always liable to bear the entire amount of losses in his books of accounts. The case of IRC v Duke of Westminster [1936] AC 1 assists in representing the principle that every person has full right to manage his accounts and financials that can allow him to minimize his total tax payable in a year. Besides, it is also mentioned in the case that if any person is successful in minimizing his total tax payable by the adoption of legal ways, then even the Commissioners of Inland Revenue does not have any right to stop them from doing so. The only requirement that this case law necessitates is that the documents depicting the truthfulness of the transaction must be genuine in nature and then the courts even cannot rely on some underlying framework to contradict their doings. Nevertheless, with due course of time, the significance of this rule has been lost because of the arrival of many other similar case studies in this regard (Adams, 2011). As a result, the viewpoint of people in relation to the observation of accounting and taxation affairs has become distinct in nature in the current situation. The utmost significance of this rule in the current scenario is that it plays a key role in preventing the organizations from influencing relevant material from the financial statements. This means that the rule assists every organization and individuals to operate their affairs in a genuine way (Adams, 2011). For instance, a business organization can make use of legal ways to write off its fixed assets to their respective carrying value so that the losses and debts that are exerting pressure over it can be avoided. In such a scenario, even if such business organization does not have proper relevant documents in regard to the same, then also it will be sufficient to just write off the fixed assets (Nethercott et. al, 2013). However, such business organization must not try to engage in illegal methods to manipulate their material information from the financial statements because this rule restricts them from doing so. The owner of a big piece of land accommodating hue pine trees intends to graze his sheep on such land but the prevalence of such trees obstructs him from doing so. Bill who is the owner wants to hire a logging company for the same so that the company can obtain as much as timber from his land and in return, he is compensated. In the first case, it can be seen that Bill intends to receive $1000 for every meter of timber cleared by the logging company. In this case, since a number of receipts is not provided, the same will be regarded as a revenue receipt. As a result, it must not attract capital gains tax (Cartwright, 2013). However, in the second case, it can be seen that Bill intends to receive $50000 as a lump sum amount for clearance of the entire trees from his land. This receipt is purely a capital receipt because of the following reasons: The receipt is incurred only after granting of a right by Bill to clear the entire trees from the land. It is not a small payment and instead, it is lump sum in nature. It is a non-recurring receipt because, after clearance of trees, they will take time to grow once again. Therefore, this receipt will be regarded as a capital receipt and hence, will attract capital gain tax as well. On a whole, even though in both the cases, Bill receives some amount of money, yet their nature is altogether distinct. Besides, the criterion of a capital receipt as mentioned above is not visible in the first case because it was not a lump sum payment and it was recurring in nature. In contrast to this, the second case occurs only after giving a right to the logging company and it can be treated as a sale of an asset to a company (Nethercott et. al, 2013). Whilst the first case is taxable at normal rates, the second case is taxable under capital gains. References Adams, J. (2011). What is The Difference Between Tax Avoidance and Tax Evasion?. Accessed September 19, 2017 from https://www.taxinsider.co.uk/680-What_is_The_Difference_Between_Tax_Avoidance_and_Tax_Evasion.html ATO. (2017). Capital Gain tax. Accessed September 20, 2017 from https://www.ato.gov.au/general/capital-gains-tax/ Cartwright, M. (2013). Death to the Australia Tax?. Accessed September 19, 2017 from https://www.ato.gov.au/Individuals/Deceased-estates/Being-an-executor/Tax-responsibilities Nethercott, L, Richardson, G Devos, K. (2013). Australian Taxation Study Manual. Oxford University Press Pratt, J.W Kulsrud, W.N. (2013). Federal Taxation. Penguin Publishers. Renton N.E, (2005) Income Tax and Investment. John Wiley Sons Australia Ltd Sadiq, K, Coleman, C, Hanegbi, R, Jogarajan,S, Krever, R, Obst, W, Ting, A. (2014). Principles of Taxation Law. Sydney

I love Facebook. It is the new Christmas card. Tha Essays - Culture

I love Facebook. It is the new Christmas card. That's the way I perceive Facebook these days. Whatever else it may be to me on a daily basis, I consider it at the very least to be the way I will stay in touch with people whom I don't connect with very often. Instead of some ratty old scribbled-on, perpetually-incorrect and out-of-date address book like the one my mother has been dragging around for decades, Facebook lets me know where old neighbors, distant relatives, former colleagues, and middle-school girlfriends can be found if I need them, and often tells me what they are up to these days. Facebook gives me all of this without any effort at all. That's why Facebook is cool. But Facebook also gives me so much more. I can waste time during the day socializing with more current and geographically present friends, including those I do actually spend time with in person, when we are otherwise supposed to be working at our respective and supposed jobs. It reminds me of all the specials and events happening at my favorite local pubs. It updates my address book automatically with new profile photos of my friends, even the funny ones, so I see them on my phone when they call me. The other day I thought Duran Duran was trying to call me from the 80s, but it turns out my little sister just likes Duran Duran. Even if it means I sometimes have to be aware of how awesome Joe is at playing Mafia Wars, and how many barns Karen has on her virtual farm, it is totally worth it. I once thought that having an Excel file with all my friends' names, phone numbers, and email addresses in it was a big improvement over my mother's address book, because I didn't have to erase or scribble anything out to update it. I don't have to update Facebook at all. And even though this all happens more or less automatically, I still have options. I can choose whether to participate, and to what degree. I can post status updates, or just be nosey and read everyone else's updates, commenting only when I have something mean to say. I can post pictures of my kids and/or my ridiculous drunken escapades while the kids are away with their mother, or not. I can post current photos of myself if I feel like it, or only old and awesome ones. I can look at photos of other people's kids, and pretend I care by commenting about how cute they are, or I can make fun of them from a safe distance without hurting anyone's feelings. I can keep separate lists of people with whom I have different kinds of relationships, and control what each of those groups of people sees. I can make sure that no one from work sees photos of my kids or is ever otherwise aware that I sometimes participate in wholesome family activities. I can make sure that my family members neve r see anything that might even slightly resemble professional activity. I can make sure that everyone sees the photos from outside the strip club. I have a very poor reputation to maintain, and Facebook helps me reach my goals. I have some friends, henceforth referred to as "individuals formerly known as friends" because everyone knows that use of the term "friend" only applies to Facebook, who swear they will never use Facebook because of some deep-held philosophical, moral, or ethical convictions. I think that is a lot of bullshit. And I don't say this only because I have no philosophy, morals, or ethics of my own. I also really mean it. Some of these individuals formerly known as friends tell me that their disinterest in Facebook is a result of their preference to communicate "face-to-face" because it provides a richer and more meaningful interpersonal experience. Bullshit. If I avoided communicating with my friends and family except when there were time and opportunity to participate in a rich and meaningful interpersonal experience I wouldn't have any friends or family at all. I spend time with people "face-to-face" when I can, but that time has never, to my

Transformation of Indians Duri essays

Transformation of Indians Duri essays The Indian population in the early 1800s were subjects of the ruling elite. At this point, the ruling elite consisted of Spaniards, which considered the Indians to be barbaric and did not consider them to be humans. In 1810, the Gente de razon category was established to identify people who were White, racially mixed people and those Indians who had been detribalized. This was the preparation for the revolution of 1821; an independence from Spanish rule. Mexico began its preparations by changing these racial labels. The great plan of this time period was to acculturate the Indians to help in the colonization of the new independent Mexico. The Indians transformation in their political, social and cultural view attributed to their legal status and land ownership rights during the Mexican period of 1821 to 1848. I believe that the Indians had been use to changes such as the change during the Spanish rule to the change under the Mexican republic and continuing with the changes und er the United States. It is the intent of this essay to examine the integration of the Indians into the new independent Mexico. The Indians change begins with the Laws of Burgos in 1512, passed by the Spanish crown to establish the procedures and laws to govern the Indians (Hanke 1949:24; Menchaca 2001:51). Yet again, at the beginning of the Mexican period in 1821, the reaffirmation of the 1812 Law of Cadiz under the Plan de Iguala went into affect, granting Mexican citizenship to all excluding slaves. The Plan de Iguala was a way to attract Indians to join the colonists in maintaining the newly established republic. Under this plan, race could no longer be legally used to prevent Indians, mestizos, and free afromestizos from exercising the citizenship rights enjoyed by Whites (Menchaca 2001:161). The beginning of this period asked many Indians to pledge allegiance to either Spain or Mexico. The Indians were able to combine their pol...

Network Security Term Paper Example | Topics and Well Written Essays - 1750 words

Network Security - Term Paper Example The rapid growth of networking has also come with its own challenges, mainly in the area of network security. Maiwald defines security as the â€Å"freedom from danger, fear or anxiety: safety† (4). He also defines a network as an interlinked system. Therefore, network security can be defined as the safety of interlinked systems. There are to kinds of networks: synchronous network and data networks. Synchronous network systems are made up of switches, which makes them immune to malicious attacks. However, data network systems contain routers that are computer based, making them susceptible to all kinds of malicious attacks. The internet is perhaps the best known and most widely used data network on the globe today. A few years ago, the computer system was seen as a harmless piece of technology and not many people cared really for computer security. To many people at the time, most computer operations and software were illogical, thus the risk of hackers was quite low (Kaufman, Radia and Speciner 43). However, since the mid 1980s, networked computer workstations became common and with this came the issue of information and network security. More and more people are able to read and understand computer algorithms, meaning that the likelihood of a system being hacked into is very easy. Organizations are forced to share networks with distrustful organizations and individuals. The world of network security is quite hostile since a small percentage of the population can cause untold damage to a global network. This is the situation that makes network security such an important matter in today’s highly networked society. There is need to protect the data and information that companies, institutions and individuals need protected by designing fool-proof network security systems. History of Network Security Widespread interest in network security gained ground in the 1980s when Kevin Mitnick hacked into the systems of several companies and made away with $80 million. This was the biggest computer-related crime by a single person in the history of the United States. The birth of the internet also marked the beginning of the interest in network security. In 1969, internet was developed after the Advanced Research Projects Agency Network (ARPANet) was given the mandate to carry out research in networking. ARPANet was an instant success and before long, email applications had become quite popular (Pardoe and Snyder 223). Th InterNetworking Working Group (IWG) was given the responsibility of governing ARPANet by setting the standards for use. On the 1980s, TCP/IP, which is a common langu age shared by all computers connected to the internet, was developed. Thus internet was officially born. The mid 1980s saw a boom in the number of personal and commercial computers which led to many companies joining the internet bandwagon. In the early 1990s it was the urn of the public to get access to the internet, and this marked the birth of the World Wide Web (WWW) era. Today the internet is widespread all across the world and many people carry out their daily activities online (Maiwald 60). The actual history of internet security began in 1918 when an enigma machine that could convert plain text to encrypted messages was developed in Poland. 22 years later, Alan Turing broke the enigma code. The word hacker was first coined by students at the Massachusetts Institute of Technology (MIT). The Telnet Protocol developed in the 1970s and this led to data networks being accessed by the public. The 1980s saw the rise of hackers and computer-related crimes. The Computer fraud and Abu se Act was enacted in 1986 to minimize cases of information stealing from military and federal offices (Kaufman, Radia and

Corporate Social Responsibility and Ethics-Case Study Essay

Corporate Social Responsibility and Ethics-Case Study - Essay Example This has brought forth the term Corporate Social Responsibility (CSR) implying the moral and social welfare promoting aspects that a modern day corporate must posses besides its financial or profit making goals. In a single sentence Corporate Social Responsibility is the culmination of the duties towards the stakeholders that encompasses promotion of social welfare, moral development and sustainable environmental safety. Brief analysis of Bhopal Gas Disaster: The majority of the Indian population lies under the poverty line and are technologically backward. 26 years earlier when the disaster took place the situation was even worse. Furthermore the concerned state Madhya Pradesh was regarded as one of the least developed states of India where the labourers were equipped with little technical expertise. This background does not confer the mentioned state as an ideal place to establish a plant that would eventually be handling a substance as toxic as Methyl Isocyanides. The concerned co mpany Union Carbide ignored these technical issues and made a grave mistake in terms of the strategic management and planning. However, the mistakes made that way become the outcome of greedy business steps when the availability of cheap labours that were hired in the process is taken into account. Ignoring technological impediments regarding the poor standards of the knowledge base of the labourers along with the ignorance of environmental standard those were needed to set a plant of such a complex technology at that place in search of financial gain is the brief but ultimate verdict of the Bhopal disaster. Ans 1 An issue dependent and logical reasoning of blaming Mr. Warren Anderson Once the dreadful early December (December 2 and 3) of 1984 was passed claiming thousands of lives, the famous or infamous chairman of Union Carbide Mr. Warren Anderson was immediately taken into custody in charge of sheer negligence of corporate responsibility. Ironically the person who was responsibl e for thousands of death soon got a personal bail of only USD3000 and came out of custody. Anderson then carried out some sort of investigation that came out with dubious results. On one instance Anderson blamed the entire management team of the company for their negligence that brought the catastrophe and on another instance he gave a much narrowed version while blaming the local plant operation manager alone. (Camino, 1989, p 3; Peterson, 1985, pp. 196-197) Whatever doubtful is the explanation of Mr. Anderson; owing to a political-corporate nexus that is like any other country is operative in India as well; Mr. Anderson was protected and managed to get back to his country USA. Questions had been raised against the then Prime Minister of India Mr. Rajiv Gandhi for protecting and eventually helping him to get back to his country. 26 years later of that event, Mr. Arjun Singh the Chief Minister of Madhya Pradesh though turned down all these allegations against the late Prime Minister Mr. Rajiv Gandhi; yet pleaded against the heinous acts of Anderson and raised his voice for the immediate arrest of him. Mr. Singh requested the present Prime Minister Mr. Manmohan Singh to initiate a talk with the USA President Mr. Barrack Obama regarding the extradition of Anderson to India where he can be prosecuted for killing of thousands of Indians in front of an Indian court. (Arjun Singh breaks silence on Bhopal gas tragedy, Aug 11, 2010) Owing to the growing agitation regarding

Analysis of E-Commerce and Supply Chain for Silver Spoon

Analysis of E-Commerce and Supply Chain for Silver Spoon Silver Spoon Snacks is a fast food eatery established first in Gulshan in the year 1965. It has expanded to a second branch in Tariq road. During its heyday it revolutionized the fast food industry by introducing the concept of à ¢Ã¢â€š ¬Ã‹Å"rolls on the menu. It enjoyed this untapped market till competitors jumped on the band wagon. The menu is diverse, including Pakistani, Chinese, Continental, Western and Indian items. There is plenty of consumer traffic in both branches especially during the evening. The Tariq Road branch serves all kinds of BBQ items, club sandwich, zinger burger and the well known rolls. The restaurant is owned and operated by a family. The branch managers are actually brothers and share shifts during the day and night. There are a total of 4 active brothers that are responsible for handling the day to day running and operations of the system. Key purchase decisions, menu expansion and supply chain decisions are handled solely by them. They have been following a paper based system since its inception. All the accounting work and record keeping is done manually in registers that are stocked at the residence every month. Literature Review According to Laudon and Laudon (Information Systems and Decision making, 2000), the supply chain is a collection of physical entities linked together into processes that supply goods or services from source through consumption. The supply chain consists of suppliers, manufacturers, wholesalers, distributors, retail outlets, logistics and consumers. This list also includes those activities that are necessary in facilitating the supply chain. Managing a supply chain is a difficult task that requires keen insight and understanding of the business processes and the environment in which it operates. The struggle is to create a network which has no weak links in terms of time delays, information gaps or inefficiencies in other words, all processes must be integrated. This is best achieved by the creation of networks with a smooth inflow and outflow of relevant information. This is the heart of e-commerce. The internet has allowed the growth of e-businesses across borders and physical limits. The use of an intranet is greatly appreciated within a company. Based on internet technology, the intranet is used primarily within a single company which allows the internal users to expand and share information across floors and walls. These locations may be domestic or may even be throughout the world (Bartoo, Elliot, and Naik-lyer, 2000). E Commerce is one of the most important facets of the internet to have developed in this day and age. Ecommerce, sometimes referred to as E Business, involves carrying out business over the Internet with the use of computers that are linked to each other forming a network. E-commerce includes the buying, selling, marketing, and servicing of goods or services through telecommunication technologies. E-Business, on the other hand, carries a broader definition, not just the buying and selling of goods and services, but servicing customers, collaborating with business partners, and conducting communications and transactions within and outside an organization. (Electronic Commerce a managerial perspective by Efrahim Turban, David King, Prentice Hall; US Ed edition October, 1999) According to ComScore a marketing research company that provides marketing data and services to many of the Internets largest businesses, E-commerce has had its first $1B day on 2nd December 2010. The heaviest online spending day in history and the first to surpass the billion-dollar threshold, declares ComScore. This goes to show how far and wide the scope of electronic buying and selling has reached. It is revolutionized the way business models are created and defined numerous opportunities for entrepreneurs and the like. E- Commerce can help a supply chain over the internet in areas such as placing and receiving orders, providing product information, tracking orders, filling and managing inventory, and recording inflows and outflows (Sunil Chopra and Jan A, Van Mieghem, Supply Chain Management Review, April 200) A critical area where e-commerce has established its presence in a supply chain is in the resource planning and inventory management function of an organization. It helps users track the inventory and where it is distributed from the organization. It helps plan for future forecasts and deal with shortages. It creates a hub where information is shared among relevant members of a business model; this is known as EDI Electronic Data Interchange. Similarly ERP (Enterprise Resource Planning) systems have emerged that serve similar functions in terms of smooth data flow between members of an organization. Relevant information relating to key business functions is then shared, matched and cross matched between departments and related companies that have partnered with the business. The goal is to streamline operations and produce a cost and time efficient process altogether. IBM and Siemens are 2 prime examples of organizations that heavily rely on supply chain applications produced by business management software such as SAP. This application has streamlined its processes thereby creating a real-time and efficient business model. Inventory management models are heavily used in large scale organizations in the fast food industry. Giant franchises such as Subway, KFC and Pizza Hut use business intelligence software for its operations. Zap is a leading software house that creates web based packages for KFC and Pizza Hut. As a starting point, a basic open source inventory management software coupled with internet technologies is an ideal way for a small to mid-sized business to start. The diagram below shows how e-commerce can efficiently distribute and coordinate the flow of information between the entities and business functions of the supply chain. The importance of information sharing and interchange is crucial to improve operational effectiveness. Research methodology Secondary research Secondary research consisted of going through research articles and existing information on e-commerce and supply chain models. Text books, class lectures and the internet served as sources for secondary research. This type of research was necessary to gain an understanding of existing supply chain models that are benefitting with the integration of e-ecommerce and its technologies. Primary research This is first hand research that needed to be conducted to gain an understanding of Silver Spoon Snacks This form of research was conducted over 2 face to face interviews and short telephone calls with the Branch Manager and Operations Manager A set of questions were asked to understand the existing supply chain model and how operations are carried out on a daily and weekly basis These questions also attempted to surface any inefficiencies and weaknesses that exist in the current setup Interviews were necessary to collect direct and relevant information from the involved people Data Analysis Input details pertaining to the Tariq Road branch Raw material listing Chicken Beef Mutton Flour Vegetables Ketchup/mustard Seasonings Equipment used Oven Fryer Coal Freezers Stove Tables and chairs Utilities used Electricity Gas Telephone Water Labour employed Head Chef Kitchen staff Head Waiter Waiters Cleaners Watchman For simplicity, the supply chain of chicken as a key and widely used ingredient will be studied throughout this report. Supply Chain system of Silver Spoon Snacks explained with the help of a flow chart. Supply Chain Defined Chicken Butcher Thursday morning or earlier depending on needs, the Chicken supplier receives an order of Boneless Chicken and Tikka pieces for the week. This order is placed via telephone by the branch manager. The quantity for chicken in Tikka and Boneless variation is verbally specified via telephone. The supplier confirms the order and a delivery time is specified. The butcher cuts the chicken according to pieces specified either Tikka pieces or Boneless for Chicken rolls. Delivery vehicle As per initial agreement between Silver Spoon and the supplier, the chicken supply will be delivered to the warehouse in the suppliers vehicle. This is part of the negotiation. The supplier will have the chicken delivered to the warehouse and settle the payment at the end of the month. Warehouse The warehouse is owned and operated by Silver Spoon owners. It has been part of the business model since 40 years and is situated off Tariq road near the Tariq road branch. The warehouse serves as a sorting point most of the raw materials. Individual branch demand is catered to and planned here. The warehouse has a large kitchen and a storage bay. Warehouse kitchen The warehouse kitchen department is responsible for all the cleaning and preparation of the raw food. This entails cleaning the chicken, removing the fat and making it hygienic and fit for cooking. Staff is employed in this department to manage the cleaning. Warehouse storage After the chicken has been cleaned, it goes into cold storage. The amount which has to be distributed to the branches on a daily basis is dispatched and the rest goes into freezers. The amount is determined in advance by branch managers. Keep in mind that a weeks supply is available for both branches at the warehouse. Official vehicle A Suzuki Pickup is on standby at the warehouse and the workers load a days worth of chicken and transport it to the both branches. 60% of the chicken goes to the Tariq Road Branch as its chicken utilization is the highest. Tariq road branch At the Tariq Road branch, the official vehicle arrives shortly with the chicken for the day. This chicken thawed, cleaned and semi marinated at the individual branches before it is ready to be finally added with the secret spices and recipes. It is immediately transported by the workers to the freezer. Kitchen + freezer As noon approaches a portion of the boneless chicken is removed from the freezer and brought to the preparation room. Here the chicken is added with seasoning, sauce and the secret spices which are made early during the day. This preparation is done by the head chef. The boneless chicken goes to the Roll preparation area and the Tikka pieces go to the BBQ area where they are cooked. Customer Once cooked, the Rolls and Tikkas are served to customers Planning system For the sake of simplicity we will go through a typical week of ordering chicken to get a grasp of the current supply system at the Tariq Road branch. This boneless chicken is used for Chicken Rolls and Chicken Boti. Whereas full chickens are used to create 4 Tikka pieces per chicken. Demand for the week is established by looking at previous trends. Basically a base demand for consumption has been established for boneless chicken of 210 kg per week. The base demand of 210kg worth of boneless chicken is always used for Rolls and Chicken Boti. On an average, 220-250kgs of boneless chicken is purchased as demand from consumers never dips below 210kg per week. For Tikkas, the base demand is 80 Tikkas per day, which makes it 560 Tikkas on an average per week. A full chicken is able to provide 4 Tikka pieces. The key considerations that determine and influence demand for chicken are: Stage of the week Friday, Saturday and Sunday are days where demand for boneless chicken is at its highest. During these days the public goes out to eat with family. Public holidays the restaurant operates during public holidays. During these days of the calendar, families choose to visit eateries and therefore the consumption of boneless chicken is high. City turmoil during expected city turmoil and expected strikes, the public operates at an accelerated pace and attempts to get things out of the way. This may entail visiting Tariq Road for work 1-2 days before the expected turmoil or unrest. Furthermore, consumption of boneless chicken falls during the days of turmoil, hence purchasing is planned accordingly. Level of commercial activity Tariq Road is heavily populated with shops and vendors. If the activity in malls and shopping strips is high, then demand for food, especially Chicken Rolls is also high as it serves the fast food concept and is economical. The factors above have the capacity to influence demand for chicken and hence the purchasing patterns vary. Chicken that is not used is then stored in freezers for next days use. This chicken is bought on Thursdays of the week from a vendor that has been partnered with the business. An order is placed via telephone on Thursday morning by the Branch Manager and it arrives by noon. If for some reason demand is abnormally high, the regular chicken supplier is contacted and is urged to make an emergency drop to the warehouse. If he is unable to do so from his own inventory, then he is responsible for making other arrangements. Supplier selection A chicken supplier is selected on the basis of: Total cost Cleaning and cutting Cost is the most important factor that ultimately determines which supplier/butcher to choose from. Silver Spoon negotiates on the basis of the foremost is cost (low or discounted price), quality, and delivery service. Secondly, it is favourable if the supplier can clean and cut the chicken into pieces at his outlet before delivering it to the Silver Spoon warehouse. Although Silver Spoon has a chicken slaughtering and cleaning/cutting facility, but is used for only further cleaning of the chicken and cutting for marinating purposes. Financial costs pertaining to Tariq Road Branch Cost for chicken: this rate is Rs. 4 per kilo less than the prevailing marketing rate. The chicken suppliers set the price every Thursday of the week. Price of chicken per kilo varies on a weekly basis and is determined by the laws of demand and supply. For example, if chicken is in excess supply then the price falls. Conversely if there is high demand then the price rises such as on weekends. Due to this the chicken suppliers set their prices on Thursday. The Tariq Road branch bears 60% of the total cost of the chicken whereas the Gulshan branch, only 40%. Consumption and sale of chicken items is the highest at the Tariq Road branch. The basis for making profits for Tikkas is to earn Rs. 20-25 profit per Tikka. Utilities Electricity Bill: varies between Rs. 50,000 to 60,000 per month. Gas Bill: varies between Rs. 10,000 to 12,000 per month Telephone Bill: Rs. 1,000 per month on an average Coal Usage: worth Rs. 1,500 on a daily basis.    Labour Employed Waiter: The starting salary per waiter is Rs. 6000 per month. Senior waiters (determined by length of employment) are paid Rs. 8000 per month. There are a total of 8 senior waiters (8 x 8000 = Rs. 64,000 per month) and 6 junior waiters (6 x 6000 = Rs. 36,000 per month). Kitchen Staff: these employees include assistants to the chef (3 assistants), and additional workers who produce other items on the menu (5 kitchen workers). They are assigned various tasks in the kitchen to add value to the system. On an average, the total labour costs assigned to the kitchen staff are Rs. 75,000 Head chef: There is 1 head Chef who is paid Rs. 12,000 per month. Total labour costs per month = Rs 64,000 + Rs 36,000 + Rs. 65,000 + 12,000 = Rs 187,000 Discussion Inefficiencies or weaknesses in the supply chain Supplier/butcher: Silver Spoon has had the same supplier for chicken for nearly 20 years. They should search the market for other suppliers that can offer competitive rates for bulk purchases of chicken. The order is placed on the phone and a Silver Spoon official does not personally monitor the chicken selection, which means an old chicken or unhealthy chicken can be part of the mix Warehouse: At the warehouse, the supplier delivery vehicle drops off the chicken and drives away after collecting the payment. There is no check here, no one counts the chicken or weighs it upon arrival so there is no way of making sure if they received the amount they paid for. There is no record system or inventory management. The chicken is not à ¢Ã¢â€š ¬Ã‹Å"logged in, just immediately shifted to the kitchen where it is cleaned for use. Therefore there is no actual account or record for the amount of chicken that entered the facility nor is there any receiving slip or receipt. Warehouse Storage: Once the chicken is cleaned and processed fit for use, it goes into storage freezers and only the days worth is kept outside for delivery. However, there is no one who counts the number of chicken breasts or legs, or kilograms of chicken that goes into the freezer. So there is no check or monitor system. Silver Spoon Snacks Vehicle The days worth of chicken is transported to the Tariq Road Branch, but there is no formal record of the amount that leaves the warehouse, nor is there any receiving document from the branches end. Branch Again, there is no counter checking or counting system of the chicken that arrives in the branch. It is blindly kept in the freezer. Customer The customer does not receive an electronic receipt. Which means that there is no formal record at Silver Spoons counter of the items sold and the cash received. There is an informal scribble in a worn out register. Other deficiencies with the current setup Marketing: There are limited marketing efforts carried out by the restaurant. At most, marketing involves re-doing the company banner or releasing a dozen flyers in the area. No website exists. Recording: It is a complete paper based system with not a computer or digital device in sight. Records are loosely maintained at the warehouse and branch in registers and journals. There is no formal record keeping system. Customers are not given receipts therefore there is no cross checking. Tracking: there is no way for Silver Spoon Snacks to forecast demand judging by trends, as figures and statistics for trends do not exist. Paper based: it is a paper based system with information regarding transactions loosely recorded in registers. Checks and balances: checks and balances do not exist, there is no tangible record keeping when it comes to inventory and purchases. It is not possible to confirm orders with suppliers and inter branch as orders are verbally given. There is no proof. Proposed system The proposed system involves the purchase of computer hardware and the use of an internet connection. The idea is to create a basic centralized system at the warehouse as the server with 2 additional linked systems at the branches. The purpose is to track and record inventory that moves into the warehouse and out to the branches. A real time system is proposed where inventory levels are monitored by the hour. The systems will need to be linked by an internet connection to provide a real time feed of information between the branches and warehouse. With an inventory management and tracking software, the loopholes and loose-ends in the current system will be neutralized. How it works Once the systems have been installed and made operational, the current stock, inventory and work in progress are uploaded to the servers. The software will be used be the warehouse, and both the branches. Each user will update the records from their end so it can be seen at the warehouse server. The software will have section for the warehouse, branch A and branch B. Depending on the fresh demand levels, the warehouse determines the quantity of chicken needed and sends an order via telephone to the butcher. Had the butcher/supplier been using a computer system (example Makro), then an email would have been dispatched instead. The quantity ordered is punched into the system and falls under the status of pending. The rate per kilo is noted. Order time is also noted. Once the stock of chicken arrives at the warehouse, its exact quantity is manually counted and weighed by an employee and then the numbers are punched into the warehouse server. This will cross check the amount ordered with the amount received. Once the figures tally, a receiving slip is generated electronically and printed after the order has been confirmed and accounted for. A slip is generated and given to the supplier and a formal record now exists in the system. A notification is sent in a matter of seconds to both branches informing them of the added inventory levels. The levels now appear on the screens of both branch A and B (Tariq road and Gulshan). Preparations are made. Depending on the opening inventory and the base level demand of 210kg of chicken and 80 Tikka pieces, each branch sends its required amount of chicken (bonless and Tikka pieces) through the softwares built in messaging system. Each transaction and order is then recorded. After the warehouse server acknowledges receipt of the order from the branch, it then forwards it verbally to the warehouse freezer where the employee loads the Silver Spoon vehicle (Suzuki pickup). The vehicle then travels to the relevant branch. A printed slip is dispatched. From the warehouse, the inventory levels are then reduced and this is also reflected in each branches terminal. Once the vehicle is unloaded at the branch, a branch employee manually supervises the unloading and stocking of the chicken in the freezer. Once confirmed and signed, the branch manager then updates his terminal with the added inventory of chicken. Back at the warehouse, the reduction in inventory is equal to the gain in inventory at both branches. As the day goes by and the orders accumulate and dispatch, the inventory levels are monitored not only at the branch, but at the warehouse as well. Each chicken Tikka order placed or each chicken roll uses a certain portion of the inventory. And once the orders are fed and updated in the Silver Spoon register, the chicken based inventory is automatically deducted. Towards the end of the day, the ending inventory is tallied and counted. The warehouse manager reads these inventories on an hourly basis and incase of a shortage dispatches a vehicle to make up for the shortfall. The cycle is then repeated every day depending on the closing inventory levels. Notes on the proposed system The recommended software for Silver Spoon Snacks is inFlow Inventory management software (http://www.inflowinventory.com/). The software is easy to use and does not require extensive training. A simple understanding of images, inputting data and confirming orders is all it takes. Free software exists, but does not provide security, reliability and expansion as inFlows suite. Each terminal is given a unique pin code which only the operator is aware of. This means only the relevant person in charge can use the terminal which is a security check as well as a confirmation. Each transaction is logged and stored in a log file sent to the warehouse computer. Backups are made on a daily basis Financial Costs involved with this system Software: although many free software packages exist, inFlow Inventory Management provides the best balance between features and cost. To create a multi user network (ideal in this case), the license cost $299 per computer for lifetime use. 3 licenses will be needed. $299 x 3 = $897 = ~ Rs. 75000 (@ Rs. 84 per U.S Dollar) Hardware needed: processor, motherboard, RAM, hard drive, casing, power supply, monitor. Based on the software requirements, the hardware cost is as follows: Tariq Road Branch cost: Rs 23,000 Gulshan Branch cost : Rs 23,000 Warehouse cost: Rs. 27,000 Total : Rs. 73,000 Internet connection: 3 connections Initial setup cost : Rs. 800 x 3 Monthly cost: Rs. 1000 x 3 Total initial investment: Rs. 75,000 (3 licenses) + (73,000 (hardware) + 2,400 (internet setup) + 3000 (first month internet payment) = Rs. 153,400 Benefits of the proposed system Accountability: first and foremost, the new system will hold each branch accountable for what it has received in its inventory. Once its handed over the inventory, it is held accountable for its storage, sales and payment. The sales of the branch should match the inventory received. Inventory control: from the moment the chicken supply reaches the warehouse, it will be tracked and accounted for. The system will make sure that there is adequate supply at all branches at all times so as to not lose out on potential sales Economic order quantity: the ideal quantity of chicken to order each week and the ideal quantity to store in the freezers can be calculated based on demand and supply conditions. Inventory planning is thereby improved. Accuracy: with figures, statistics and numbers well accounted for and cross references, the books of Silver Spoon will present and accurate picture of state of affairs. A reduction in human error in terms of calculations, counting and so on will also be witnessed. Record keeping: instead of scribbling in registers and writing journals, an electronic system with constant updates is hence created with the use of e-commerce technologies. Past transactions, exchanges, buying and selling are stored electronically thereby staying safe. The option to print out the records exists, thereby creating tangible records. Electronic Data Interchange: Information sharing between branches and the warehouse will be more convenient as real time updates and inventory levels can be monitored. Offers and promotional schemes by suppliers can also be entertained. Expansion: This inventory monitoring and management system is not just limited to chicken; it can be used for the entire product line, mutton, beef, vegetables, cold drinks, seasoning, flour and so on. The scope is limitless with unlimited suppliers and customers. Improved Customer Service and loyalty: when a customer always gets his or her desired order in desired quantity, it creates customer satisfaction and creates repeat customers. It improves loyalty as well. A computerized receipt also creates a positive impression on the customers. Reduce stock-outs and overstocks: with supply synchronized with demand, the chances of ending up with à ¢Ã¢â€š ¬Ã‹Å"expired inventory or facing shortages are greatly reduced. Shortages are prevented as inventory as planned well in advance, and in the same way excess inventory is also reducing thereby curbing inventory carrying costs. Ready alerts: if the inventory dips below a certain level at a branch, an automatically generated alert is sent to the warehouse or Gulshan branch and inventory can be moved around. Furthermore this will act as an early warning sign to the warehouse to acquire more inventory. Meeting demand: demand is almost always met unless outside forces have some play. With inventory always available due to a tracking and trend analysis system, sales will always be met. Forecasting: due to its ability to track charts and record daily transactions, the stored information can be used to conduct trend analysis for certain times of the calendar year. This will allow better planning for inventory and sales. Website: Silver Spoon Snacks Pvt. Ltd. can go on-line and have a web presence. This on its own is a marketing tool Networking: since Silver Spoon is now on-line and has a presence on the world wide web, it will be able to reach out to suppliers and customers on a larger scale. It is a ready marketing tool. It can partner with other restaurants, sponsors, FMCGs and causes. Marketing: with the use of e-commerce technologies, Silver Spoon Snacks can expand its marketing operations by sending out e-mails and creating ad banners and partnering with other websites. Costs of proposed system Change: it is possible that managers and top management may resist the change/transition from a paper based system to a technical system. The current system, though not ideal sets comfortably with current management. A management paradigm shift is required. Training: the system users will require some short initial training to understand the use of the software and technology in general. Although the Operations Manager Mr. Talha Awan is well versed with computer software and hardware, there will still be a slight lag due to training. Initial investment: although a small amount, roughly Rs. 150,000 will need to be diverted for a project that has no immediate monetary returns. Software support: although a helpline for customer support exists, it can become cumbersome to ask for guidance incase of software failure or confusion. Hardware failure: at the mercy of KESC and the elements, the computer hardware may fail thereby causing confusion and a stop in information flow. Although an uninterrupted power supply may be purchased, as well as a warranty plan, it will only add up in costs and delays. Internet failure: from time to time, the internet service provider may fail to provide a 100% uptime. This can cause delays and lags in the system. Industry Standard Bar B Q Tonight Inventory Management System To further add value to this report, I studied Bar B Q Tonights current inventory management setup which is computerized. Information was gathered through telephonic interviews and e-mail exchange with the Operations Managers, Sardar Ishaq and Mr. Abur Rehman. The findings are compiled below. Bar B Q Tonight is one of Karachis most famous restaurants that came into being in 1988. It prepares all kinds of cuisine that caters to thousands of customers on a daily basis. In-fact the multi storeyed establishment can house upto a thousand customers at a time. The restaurant has enjoyed high growth levels consistent with every year. Recently a branch has been erected in Lahore. Chicken, Beef, Fish, vegetables, pastas, fruit, ice cream, mushrooms, sausages, cheese, beverages and tissue rolls are just a small list of the inventory that are in storage and continuous use at the restaurant. These are key inputs needed to give customers a full service and experience backed by quality that the restaurant promises. To ensure proper delivery of storage, roughly 500 employees and 2 dozen management level officers are part of the work force. The availability of sufficient inventory and especially at the right time is perhaps the single most crucial factor at the restaurant. Insufficient inventory levels can result in a loss of potential sales. Furthermore due to the sheer quantity of inventory that enters and exits the building, checks and balances, control and proper monitoring of stock are required. This serves a number of functions such as quality control, waste management and theft protection. The current supply chain is as follows: SUPPLIER à ¯Ã†â€™Ã‚   DRY/COLD STORAGE à ¯Ã†â€™Ã‚   CUTTING/PROCESSING à ¯Ã†â€™Ã‚   RELEVANT FOOD DEPARTMENT à ¯Ã†â€™Ã‚   CUSTOMER The suppliers supply meat, chicken, tinned items, cold drinks, eggs, vegetables and basically all the inputs needed. Once the orders are received, they go into processing/cleaning/cutting/batching dependin Analysis of E-Commerce and Supply Chain for Silver Spoon Analysis of E-Commerce and Supply Chain for Silver Spoon Silver Spoon Snacks is a fast food eatery established first in Gulshan in the year 1965. It has expanded to a second branch in Tariq road. During its heyday it revolutionized the fast food industry by introducing the concept of à ¢Ã¢â€š ¬Ã‹Å"rolls on the menu. It enjoyed this untapped market till competitors jumped on the band wagon. The menu is diverse, including Pakistani, Chinese, Continental, Western and Indian items. There is plenty of consumer traffic in both branches especially during the evening. The Tariq Road branch serves all kinds of BBQ items, club sandwich, zinger burger and the well known rolls. The restaurant is owned and operated by a family. The branch managers are actually brothers and share shifts during the day and night. There are a total of 4 active brothers that are responsible for handling the day to day running and operations of the system. Key purchase decisions, menu expansion and supply chain decisions are handled solely by them. They have been following a paper based system since its inception. All the accounting work and record keeping is done manually in registers that are stocked at the residence every month. Literature Review According to Laudon and Laudon (Information Systems and Decision making, 2000), the supply chain is a collection of physical entities linked together into processes that supply goods or services from source through consumption. The supply chain consists of suppliers, manufacturers, wholesalers, distributors, retail outlets, logistics and consumers. This list also includes those activities that are necessary in facilitating the supply chain. Managing a supply chain is a difficult task that requires keen insight and understanding of the business processes and the environment in which it operates. The struggle is to create a network which has no weak links in terms of time delays, information gaps or inefficiencies in other words, all processes must be integrated. This is best achieved by the creation of networks with a smooth inflow and outflow of relevant information. This is the heart of e-commerce. The internet has allowed the growth of e-businesses across borders and physical limits. The use of an intranet is greatly appreciated within a company. Based on internet technology, the intranet is used primarily within a single company which allows the internal users to expand and share information across floors and walls. These locations may be domestic or may even be throughout the world (Bartoo, Elliot, and Naik-lyer, 2000). E Commerce is one of the most important facets of the internet to have developed in this day and age. Ecommerce, sometimes referred to as E Business, involves carrying out business over the Internet with the use of computers that are linked to each other forming a network. E-commerce includes the buying, selling, marketing, and servicing of goods or services through telecommunication technologies. E-Business, on the other hand, carries a broader definition, not just the buying and selling of goods and services, but servicing customers, collaborating with business partners, and conducting communications and transactions within and outside an organization. (Electronic Commerce a managerial perspective by Efrahim Turban, David King, Prentice Hall; US Ed edition October, 1999) According to ComScore a marketing research company that provides marketing data and services to many of the Internets largest businesses, E-commerce has had its first $1B day on 2nd December 2010. The heaviest online spending day in history and the first to surpass the billion-dollar threshold, declares ComScore. This goes to show how far and wide the scope of electronic buying and selling has reached. It is revolutionized the way business models are created and defined numerous opportunities for entrepreneurs and the like. E- Commerce can help a supply chain over the internet in areas such as placing and receiving orders, providing product information, tracking orders, filling and managing inventory, and recording inflows and outflows (Sunil Chopra and Jan A, Van Mieghem, Supply Chain Management Review, April 200) A critical area where e-commerce has established its presence in a supply chain is in the resource planning and inventory management function of an organization. It helps users track the inventory and where it is distributed from the organization. It helps plan for future forecasts and deal with shortages. It creates a hub where information is shared among relevant members of a business model; this is known as EDI Electronic Data Interchange. Similarly ERP (Enterprise Resource Planning) systems have emerged that serve similar functions in terms of smooth data flow between members of an organization. Relevant information relating to key business functions is then shared, matched and cross matched between departments and related companies that have partnered with the business. The goal is to streamline operations and produce a cost and time efficient process altogether. IBM and Siemens are 2 prime examples of organizations that heavily rely on supply chain applications produced by business management software such as SAP. This application has streamlined its processes thereby creating a real-time and efficient business model. Inventory management models are heavily used in large scale organizations in the fast food industry. Giant franchises such as Subway, KFC and Pizza Hut use business intelligence software for its operations. Zap is a leading software house that creates web based packages for KFC and Pizza Hut. As a starting point, a basic open source inventory management software coupled with internet technologies is an ideal way for a small to mid-sized business to start. The diagram below shows how e-commerce can efficiently distribute and coordinate the flow of information between the entities and business functions of the supply chain. The importance of information sharing and interchange is crucial to improve operational effectiveness. Research methodology Secondary research Secondary research consisted of going through research articles and existing information on e-commerce and supply chain models. Text books, class lectures and the internet served as sources for secondary research. This type of research was necessary to gain an understanding of existing supply chain models that are benefitting with the integration of e-ecommerce and its technologies. Primary research This is first hand research that needed to be conducted to gain an understanding of Silver Spoon Snacks This form of research was conducted over 2 face to face interviews and short telephone calls with the Branch Manager and Operations Manager A set of questions were asked to understand the existing supply chain model and how operations are carried out on a daily and weekly basis These questions also attempted to surface any inefficiencies and weaknesses that exist in the current setup Interviews were necessary to collect direct and relevant information from the involved people Data Analysis Input details pertaining to the Tariq Road branch Raw material listing Chicken Beef Mutton Flour Vegetables Ketchup/mustard Seasonings Equipment used Oven Fryer Coal Freezers Stove Tables and chairs Utilities used Electricity Gas Telephone Water Labour employed Head Chef Kitchen staff Head Waiter Waiters Cleaners Watchman For simplicity, the supply chain of chicken as a key and widely used ingredient will be studied throughout this report. Supply Chain system of Silver Spoon Snacks explained with the help of a flow chart. Supply Chain Defined Chicken Butcher Thursday morning or earlier depending on needs, the Chicken supplier receives an order of Boneless Chicken and Tikka pieces for the week. This order is placed via telephone by the branch manager. The quantity for chicken in Tikka and Boneless variation is verbally specified via telephone. The supplier confirms the order and a delivery time is specified. The butcher cuts the chicken according to pieces specified either Tikka pieces or Boneless for Chicken rolls. Delivery vehicle As per initial agreement between Silver Spoon and the supplier, the chicken supply will be delivered to the warehouse in the suppliers vehicle. This is part of the negotiation. The supplier will have the chicken delivered to the warehouse and settle the payment at the end of the month. Warehouse The warehouse is owned and operated by Silver Spoon owners. It has been part of the business model since 40 years and is situated off Tariq road near the Tariq road branch. The warehouse serves as a sorting point most of the raw materials. Individual branch demand is catered to and planned here. The warehouse has a large kitchen and a storage bay. Warehouse kitchen The warehouse kitchen department is responsible for all the cleaning and preparation of the raw food. This entails cleaning the chicken, removing the fat and making it hygienic and fit for cooking. Staff is employed in this department to manage the cleaning. Warehouse storage After the chicken has been cleaned, it goes into cold storage. The amount which has to be distributed to the branches on a daily basis is dispatched and the rest goes into freezers. The amount is determined in advance by branch managers. Keep in mind that a weeks supply is available for both branches at the warehouse. Official vehicle A Suzuki Pickup is on standby at the warehouse and the workers load a days worth of chicken and transport it to the both branches. 60% of the chicken goes to the Tariq Road Branch as its chicken utilization is the highest. Tariq road branch At the Tariq Road branch, the official vehicle arrives shortly with the chicken for the day. This chicken thawed, cleaned and semi marinated at the individual branches before it is ready to be finally added with the secret spices and recipes. It is immediately transported by the workers to the freezer. Kitchen + freezer As noon approaches a portion of the boneless chicken is removed from the freezer and brought to the preparation room. Here the chicken is added with seasoning, sauce and the secret spices which are made early during the day. This preparation is done by the head chef. The boneless chicken goes to the Roll preparation area and the Tikka pieces go to the BBQ area where they are cooked. Customer Once cooked, the Rolls and Tikkas are served to customers Planning system For the sake of simplicity we will go through a typical week of ordering chicken to get a grasp of the current supply system at the Tariq Road branch. This boneless chicken is used for Chicken Rolls and Chicken Boti. Whereas full chickens are used to create 4 Tikka pieces per chicken. Demand for the week is established by looking at previous trends. Basically a base demand for consumption has been established for boneless chicken of 210 kg per week. The base demand of 210kg worth of boneless chicken is always used for Rolls and Chicken Boti. On an average, 220-250kgs of boneless chicken is purchased as demand from consumers never dips below 210kg per week. For Tikkas, the base demand is 80 Tikkas per day, which makes it 560 Tikkas on an average per week. A full chicken is able to provide 4 Tikka pieces. The key considerations that determine and influence demand for chicken are: Stage of the week Friday, Saturday and Sunday are days where demand for boneless chicken is at its highest. During these days the public goes out to eat with family. Public holidays the restaurant operates during public holidays. During these days of the calendar, families choose to visit eateries and therefore the consumption of boneless chicken is high. City turmoil during expected city turmoil and expected strikes, the public operates at an accelerated pace and attempts to get things out of the way. This may entail visiting Tariq Road for work 1-2 days before the expected turmoil or unrest. Furthermore, consumption of boneless chicken falls during the days of turmoil, hence purchasing is planned accordingly. Level of commercial activity Tariq Road is heavily populated with shops and vendors. If the activity in malls and shopping strips is high, then demand for food, especially Chicken Rolls is also high as it serves the fast food concept and is economical. The factors above have the capacity to influence demand for chicken and hence the purchasing patterns vary. Chicken that is not used is then stored in freezers for next days use. This chicken is bought on Thursdays of the week from a vendor that has been partnered with the business. An order is placed via telephone on Thursday morning by the Branch Manager and it arrives by noon. If for some reason demand is abnormally high, the regular chicken supplier is contacted and is urged to make an emergency drop to the warehouse. If he is unable to do so from his own inventory, then he is responsible for making other arrangements. Supplier selection A chicken supplier is selected on the basis of: Total cost Cleaning and cutting Cost is the most important factor that ultimately determines which supplier/butcher to choose from. Silver Spoon negotiates on the basis of the foremost is cost (low or discounted price), quality, and delivery service. Secondly, it is favourable if the supplier can clean and cut the chicken into pieces at his outlet before delivering it to the Silver Spoon warehouse. Although Silver Spoon has a chicken slaughtering and cleaning/cutting facility, but is used for only further cleaning of the chicken and cutting for marinating purposes. Financial costs pertaining to Tariq Road Branch Cost for chicken: this rate is Rs. 4 per kilo less than the prevailing marketing rate. The chicken suppliers set the price every Thursday of the week. Price of chicken per kilo varies on a weekly basis and is determined by the laws of demand and supply. For example, if chicken is in excess supply then the price falls. Conversely if there is high demand then the price rises such as on weekends. Due to this the chicken suppliers set their prices on Thursday. The Tariq Road branch bears 60% of the total cost of the chicken whereas the Gulshan branch, only 40%. Consumption and sale of chicken items is the highest at the Tariq Road branch. The basis for making profits for Tikkas is to earn Rs. 20-25 profit per Tikka. Utilities Electricity Bill: varies between Rs. 50,000 to 60,000 per month. Gas Bill: varies between Rs. 10,000 to 12,000 per month Telephone Bill: Rs. 1,000 per month on an average Coal Usage: worth Rs. 1,500 on a daily basis.    Labour Employed Waiter: The starting salary per waiter is Rs. 6000 per month. Senior waiters (determined by length of employment) are paid Rs. 8000 per month. There are a total of 8 senior waiters (8 x 8000 = Rs. 64,000 per month) and 6 junior waiters (6 x 6000 = Rs. 36,000 per month). Kitchen Staff: these employees include assistants to the chef (3 assistants), and additional workers who produce other items on the menu (5 kitchen workers). They are assigned various tasks in the kitchen to add value to the system. On an average, the total labour costs assigned to the kitchen staff are Rs. 75,000 Head chef: There is 1 head Chef who is paid Rs. 12,000 per month. Total labour costs per month = Rs 64,000 + Rs 36,000 + Rs. 65,000 + 12,000 = Rs 187,000 Discussion Inefficiencies or weaknesses in the supply chain Supplier/butcher: Silver Spoon has had the same supplier for chicken for nearly 20 years. They should search the market for other suppliers that can offer competitive rates for bulk purchases of chicken. The order is placed on the phone and a Silver Spoon official does not personally monitor the chicken selection, which means an old chicken or unhealthy chicken can be part of the mix Warehouse: At the warehouse, the supplier delivery vehicle drops off the chicken and drives away after collecting the payment. There is no check here, no one counts the chicken or weighs it upon arrival so there is no way of making sure if they received the amount they paid for. There is no record system or inventory management. The chicken is not à ¢Ã¢â€š ¬Ã‹Å"logged in, just immediately shifted to the kitchen where it is cleaned for use. Therefore there is no actual account or record for the amount of chicken that entered the facility nor is there any receiving slip or receipt. Warehouse Storage: Once the chicken is cleaned and processed fit for use, it goes into storage freezers and only the days worth is kept outside for delivery. However, there is no one who counts the number of chicken breasts or legs, or kilograms of chicken that goes into the freezer. So there is no check or monitor system. Silver Spoon Snacks Vehicle The days worth of chicken is transported to the Tariq Road Branch, but there is no formal record of the amount that leaves the warehouse, nor is there any receiving document from the branches end. Branch Again, there is no counter checking or counting system of the chicken that arrives in the branch. It is blindly kept in the freezer. Customer The customer does not receive an electronic receipt. Which means that there is no formal record at Silver Spoons counter of the items sold and the cash received. There is an informal scribble in a worn out register. Other deficiencies with the current setup Marketing: There are limited marketing efforts carried out by the restaurant. At most, marketing involves re-doing the company banner or releasing a dozen flyers in the area. No website exists. Recording: It is a complete paper based system with not a computer or digital device in sight. Records are loosely maintained at the warehouse and branch in registers and journals. There is no formal record keeping system. Customers are not given receipts therefore there is no cross checking. Tracking: there is no way for Silver Spoon Snacks to forecast demand judging by trends, as figures and statistics for trends do not exist. Paper based: it is a paper based system with information regarding transactions loosely recorded in registers. Checks and balances: checks and balances do not exist, there is no tangible record keeping when it comes to inventory and purchases. It is not possible to confirm orders with suppliers and inter branch as orders are verbally given. There is no proof. Proposed system The proposed system involves the purchase of computer hardware and the use of an internet connection. The idea is to create a basic centralized system at the warehouse as the server with 2 additional linked systems at the branches. The purpose is to track and record inventory that moves into the warehouse and out to the branches. A real time system is proposed where inventory levels are monitored by the hour. The systems will need to be linked by an internet connection to provide a real time feed of information between the branches and warehouse. With an inventory management and tracking software, the loopholes and loose-ends in the current system will be neutralized. How it works Once the systems have been installed and made operational, the current stock, inventory and work in progress are uploaded to the servers. The software will be used be the warehouse, and both the branches. Each user will update the records from their end so it can be seen at the warehouse server. The software will have section for the warehouse, branch A and branch B. Depending on the fresh demand levels, the warehouse determines the quantity of chicken needed and sends an order via telephone to the butcher. Had the butcher/supplier been using a computer system (example Makro), then an email would have been dispatched instead. The quantity ordered is punched into the system and falls under the status of pending. The rate per kilo is noted. Order time is also noted. Once the stock of chicken arrives at the warehouse, its exact quantity is manually counted and weighed by an employee and then the numbers are punched into the warehouse server. This will cross check the amount ordered with the amount received. Once the figures tally, a receiving slip is generated electronically and printed after the order has been confirmed and accounted for. A slip is generated and given to the supplier and a formal record now exists in the system. A notification is sent in a matter of seconds to both branches informing them of the added inventory levels. The levels now appear on the screens of both branch A and B (Tariq road and Gulshan). Preparations are made. Depending on the opening inventory and the base level demand of 210kg of chicken and 80 Tikka pieces, each branch sends its required amount of chicken (bonless and Tikka pieces) through the softwares built in messaging system. Each transaction and order is then recorded. After the warehouse server acknowledges receipt of the order from the branch, it then forwards it verbally to the warehouse freezer where the employee loads the Silver Spoon vehicle (Suzuki pickup). The vehicle then travels to the relevant branch. A printed slip is dispatched. From the warehouse, the inventory levels are then reduced and this is also reflected in each branches terminal. Once the vehicle is unloaded at the branch, a branch employee manually supervises the unloading and stocking of the chicken in the freezer. Once confirmed and signed, the branch manager then updates his terminal with the added inventory of chicken. Back at the warehouse, the reduction in inventory is equal to the gain in inventory at both branches. As the day goes by and the orders accumulate and dispatch, the inventory levels are monitored not only at the branch, but at the warehouse as well. Each chicken Tikka order placed or each chicken roll uses a certain portion of the inventory. And once the orders are fed and updated in the Silver Spoon register, the chicken based inventory is automatically deducted. Towards the end of the day, the ending inventory is tallied and counted. The warehouse manager reads these inventories on an hourly basis and incase of a shortage dispatches a vehicle to make up for the shortfall. The cycle is then repeated every day depending on the closing inventory levels. Notes on the proposed system The recommended software for Silver Spoon Snacks is inFlow Inventory management software (http://www.inflowinventory.com/). The software is easy to use and does not require extensive training. A simple understanding of images, inputting data and confirming orders is all it takes. Free software exists, but does not provide security, reliability and expansion as inFlows suite. Each terminal is given a unique pin code which only the operator is aware of. This means only the relevant person in charge can use the terminal which is a security check as well as a confirmation. Each transaction is logged and stored in a log file sent to the warehouse computer. Backups are made on a daily basis Financial Costs involved with this system Software: although many free software packages exist, inFlow Inventory Management provides the best balance between features and cost. To create a multi user network (ideal in this case), the license cost $299 per computer for lifetime use. 3 licenses will be needed. $299 x 3 = $897 = ~ Rs. 75000 (@ Rs. 84 per U.S Dollar) Hardware needed: processor, motherboard, RAM, hard drive, casing, power supply, monitor. Based on the software requirements, the hardware cost is as follows: Tariq Road Branch cost: Rs 23,000 Gulshan Branch cost : Rs 23,000 Warehouse cost: Rs. 27,000 Total : Rs. 73,000 Internet connection: 3 connections Initial setup cost : Rs. 800 x 3 Monthly cost: Rs. 1000 x 3 Total initial investment: Rs. 75,000 (3 licenses) + (73,000 (hardware) + 2,400 (internet setup) + 3000 (first month internet payment) = Rs. 153,400 Benefits of the proposed system Accountability: first and foremost, the new system will hold each branch accountable for what it has received in its inventory. Once its handed over the inventory, it is held accountable for its storage, sales and payment. The sales of the branch should match the inventory received. Inventory control: from the moment the chicken supply reaches the warehouse, it will be tracked and accounted for. The system will make sure that there is adequate supply at all branches at all times so as to not lose out on potential sales Economic order quantity: the ideal quantity of chicken to order each week and the ideal quantity to store in the freezers can be calculated based on demand and supply conditions. Inventory planning is thereby improved. Accuracy: with figures, statistics and numbers well accounted for and cross references, the books of Silver Spoon will present and accurate picture of state of affairs. A reduction in human error in terms of calculations, counting and so on will also be witnessed. Record keeping: instead of scribbling in registers and writing journals, an electronic system with constant updates is hence created with the use of e-commerce technologies. Past transactions, exchanges, buying and selling are stored electronically thereby staying safe. The option to print out the records exists, thereby creating tangible records. Electronic Data Interchange: Information sharing between branches and the warehouse will be more convenient as real time updates and inventory levels can be monitored. Offers and promotional schemes by suppliers can also be entertained. Expansion: This inventory monitoring and management system is not just limited to chicken; it can be used for the entire product line, mutton, beef, vegetables, cold drinks, seasoning, flour and so on. The scope is limitless with unlimited suppliers and customers. Improved Customer Service and loyalty: when a customer always gets his or her desired order in desired quantity, it creates customer satisfaction and creates repeat customers. It improves loyalty as well. A computerized receipt also creates a positive impression on the customers. Reduce stock-outs and overstocks: with supply synchronized with demand, the chances of ending up with à ¢Ã¢â€š ¬Ã‹Å"expired inventory or facing shortages are greatly reduced. Shortages are prevented as inventory as planned well in advance, and in the same way excess inventory is also reducing thereby curbing inventory carrying costs. Ready alerts: if the inventory dips below a certain level at a branch, an automatically generated alert is sent to the warehouse or Gulshan branch and inventory can be moved around. Furthermore this will act as an early warning sign to the warehouse to acquire more inventory. Meeting demand: demand is almost always met unless outside forces have some play. With inventory always available due to a tracking and trend analysis system, sales will always be met. Forecasting: due to its ability to track charts and record daily transactions, the stored information can be used to conduct trend analysis for certain times of the calendar year. This will allow better planning for inventory and sales. Website: Silver Spoon Snacks Pvt. Ltd. can go on-line and have a web presence. This on its own is a marketing tool Networking: since Silver Spoon is now on-line and has a presence on the world wide web, it will be able to reach out to suppliers and customers on a larger scale. It is a ready marketing tool. It can partner with other restaurants, sponsors, FMCGs and causes. Marketing: with the use of e-commerce technologies, Silver Spoon Snacks can expand its marketing operations by sending out e-mails and creating ad banners and partnering with other websites. Costs of proposed system Change: it is possible that managers and top management may resist the change/transition from a paper based system to a technical system. The current system, though not ideal sets comfortably with current management. A management paradigm shift is required. Training: the system users will require some short initial training to understand the use of the software and technology in general. Although the Operations Manager Mr. Talha Awan is well versed with computer software and hardware, there will still be a slight lag due to training. Initial investment: although a small amount, roughly Rs. 150,000 will need to be diverted for a project that has no immediate monetary returns. Software support: although a helpline for customer support exists, it can become cumbersome to ask for guidance incase of software failure or confusion. Hardware failure: at the mercy of KESC and the elements, the computer hardware may fail thereby causing confusion and a stop in information flow. Although an uninterrupted power supply may be purchased, as well as a warranty plan, it will only add up in costs and delays. Internet failure: from time to time, the internet service provider may fail to provide a 100% uptime. This can cause delays and lags in the system. Industry Standard Bar B Q Tonight Inventory Management System To further add value to this report, I studied Bar B Q Tonights current inventory management setup which is computerized. Information was gathered through telephonic interviews and e-mail exchange with the Operations Managers, Sardar Ishaq and Mr. Abur Rehman. The findings are compiled below. Bar B Q Tonight is one of Karachis most famous restaurants that came into being in 1988. It prepares all kinds of cuisine that caters to thousands of customers on a daily basis. In-fact the multi storeyed establishment can house upto a thousand customers at a time. The restaurant has enjoyed high growth levels consistent with every year. Recently a branch has been erected in Lahore. Chicken, Beef, Fish, vegetables, pastas, fruit, ice cream, mushrooms, sausages, cheese, beverages and tissue rolls are just a small list of the inventory that are in storage and continuous use at the restaurant. These are key inputs needed to give customers a full service and experience backed by quality that the restaurant promises. To ensure proper delivery of storage, roughly 500 employees and 2 dozen management level officers are part of the work force. The availability of sufficient inventory and especially at the right time is perhaps the single most crucial factor at the restaurant. Insufficient inventory levels can result in a loss of potential sales. Furthermore due to the sheer quantity of inventory that enters and exits the building, checks and balances, control and proper monitoring of stock are required. This serves a number of functions such as quality control, waste management and theft protection. The current supply chain is as follows: SUPPLIER à ¯Ã†â€™Ã‚   DRY/COLD STORAGE à ¯Ã†â€™Ã‚   CUTTING/PROCESSING à ¯Ã†â€™Ã‚   RELEVANT FOOD DEPARTMENT à ¯Ã†â€™Ã‚   CUSTOMER The suppliers supply meat, chicken, tinned items, cold drinks, eggs, vegetables and basically all the inputs needed. Once the orders are received, they go into processing/cleaning/cutting/batching dependin