Quantitative Decision Making-Transportation Essay

Quantitative Decision Making-Transportation - Essay Example An innovative approach namely the dual-matrix approach will be used to address the transportation problem. This approach will judge the transportation model beginning from a good realistic solution and using a matrix in order to get the subsequently improved solution until the most advantageous solution is attained. In this approach, the linear form of algebra will be adopted in order to work out the transportation problem. There will be the introduction of an innovative concept known as virtual cells in this approach (JI and CHU, 2002). This approach will attempt to be functional on both unbalanced and balanced transportation problems. There will no need to convert the unbalanced transportation problem to a balanced transportation problem as in the case of other approach named as stepping-stone method. In addition to this, the method of dual-matrix does not imply the problem of degeneracy. Furthermore, this approach entails the characteristic of no tracing of the path. On the contrary, it also absorbs a disadvantage that is, it requires an (m+n)x(m+n) matrix. However, this problem is not considered to be serious enough towards the enhanced computers of today and for a big level of transportation problem (JI and CHU, 2002). With the purpose of testing the effectiveness of the dual- matrix technique, numerous numerical instances will be performed. When these examples will be compared to the stepping-stone technique, the consequences will always determine and signify dual-matrix to be better relative to the stepping-stone. The degeneracy and tracing of path perhaps prove to be serious for a major transportation problem (JI and CHU, 2002). Major logistics companies have increasingly devoted their attention towards transporting issues of their businesses. This is mainly due to two aspects which include a reduction in cost and enhancement of customer service. There is a remarkable example of FedEx which offers a variety of logistics solutions to its customers. These services are categorized on the grounds of numerous kinds of customer requirements.  

Critical analysis on potential benefit of using CRM in organization Essay

Critical analysis on potential benefit of using CRM in organization - Essay Example CRM or customer relationship management, therefore, has become a critical factor in the business strategy of the organizations. Customer relationship management is a people-centric business strategy that integrates technology and various business processes around the customers. Analysis and identification of the changing trends of the customer requirements have become important ingredients to gain leverage against one’s business rivals. While the market strategy should be totally focused on the needs and requirements of the people and make continuous efforts to update its products line with that of the changing public demands. Understanding of consumer psychology, therefore, plays a vital role in the development of marketing strategy and planning. The behavioral pattern of the people, in the decision making process of buying products and services, help provide important clues for preparing appropriate advertising strategies and campaigns so that maximum mileage could be garnered for the products. The need for effective CRM strategy has therefore, become essential in the fast transforming socio-economi cal paradigms, so that they are able to meet the challenges of the external factors to maintain as well as increase their existing customer base. The purpose of the study is to gauge the impact of the CRM in the overall business strategy and business decision outcome. Emerging markets are crucial in the era of globalization and can be defined as the new area with high income and where the demand for the product can be created with relative success. According to Nargundkar and Srivastava (2002), knowledge about customer and their required is considered to be critical for the long term success of a business (Nargundkar and Srivastava, 2002). But the studies have shown that only small percentage of business have detailed