StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Steel Work Questions - Essay Example

Cite this document
Summary
1.) Steel Works has a high demand for many of its products. The company has a high inventory on many of the products. Steel Works will need to move part of this stored product as soon as possible. The excess of a stored product is keeping the company from showing a profit…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.1% of users find it useful
Steel Work Questions
Read Text Preview

Extract of sample "Steel Work Questions"

Steel Works has a high demand for many of its products. The company has a high inventory on many of the products. Steel Works will need to move part of this stored product as soon as possible. The excess of a stored product is keeping the company from showing a profit. This will also reduce costs. Steel Works customers are demanding some of the products, and not too demanding of some of the other products. The customers, especially in the automotive industry are in need of the products Steel Works has to offer.

The customers choose some of the products, and favor these products over other products currently offered by Steel Works. Some of the least expensive products Steel Works has to offer are the products the customers choose not to have. This suggests Steel Works will need to discontinue the use of some of the products. If Steel Works is going to begin showing profits again the company will need to move some of the current inventory, and control the manufacturing of future inventory. Before, Steel Works can sell some of the products they are overstocked on the company will need to reduce the cost to the customer.

By reducing the cost to the customer, the company is making the product seem more appealing to the customer. Everyone likes to save money, even companies. 2.) The coefficient of the inventory tells one the company has too much inventory of the two products. The company should definitely decrease the inventory, as soon as possible. When the company figured the coefficient for the inventory, the numbers were astronomical. The coefficient will tell the company what products should be sold first, and what variations of the two products need to be sold at a discount.

When the company figured the coefficient, the company was surprised at the astronomical amount of inventory the company continues to have at present. 3.) The company has been holding a large amount of inventory. The company has an average monthly inventory of each of the variations of the two products. The lowest the company is over budgeted on inventory is still more than $50. The company is over on average monthly inventory of one of the variations of the two products by more the $10 thousand.

If the company begins to discount some of the overage, the company may soon see a profit to post. The only way to move the inventory at a fast rate is to sell the inventory at a discount, and make the inventory look appealing to the customer, when a company sells products at a discount many customers will purchase in bulk to avoid paying full price at a later date. Steel Works should have been holding no more than $50 overage on the current inventory. With the company being more than $10, thousand on the one variation of the product the company is losing money by not selling this product.

The company needed to pay the employees to manufacture the steel, and the company needs to pay fixed costs to store the product. If the product is being stored the company is not making any money on the product, the company is losing money on the product. 4.) The obvious opportunities are that the company is overproducing these products as well. The company needs to stop manufacturing new steel, and get the inventory under control. When the company begins to get the inventory under control, the company will stop overproducing products, and the company will begin to show profits again.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Steel Work Questions Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Retrieved from https://studentshare.org/other/1421803-steel-work-questions
(Steel Work Questions Essay Example | Topics and Well Written Essays - 500 Words)
https://studentshare.org/other/1421803-steel-work-questions.
“Steel Work Questions Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/other/1421803-steel-work-questions.
  • Cited: 0 times

CHECK THESE SAMPLES OF Steel Work Questions

Investigating the Collapse of WTC Building 7

Due to these loopholes within their explanations it is right to state that their theory help spark more questions and conspiracy theories on why the building collapsed rather than highlighting the facts like why the collapse had more characteristics of a controlled demolition which are not common in steel framed buildings as was the case of the WTC building 7.... In order for the Architects & Engineers for 9/11 Truth to support their claim they used free fall acceleration point to mid-air pulverization of concrete and lateral ejection of steel during the buildings collapse as their main explanation basis....
3 Pages (750 words) Essay

What Influences the Steel Prices on the World Market

This study discusses the question of steel prices of the economic world.... The question of steel Prices has moved into the center of attention of the economic world since they started skyrocketing over the last 2 to 3 years.... As steel is at the core of a large number of products, increases in the base product have a tremendous effect on the prices of the subsequent product and thus on several price indices.... And out of the manufactured product prices, the prices of iron and steel items have contributed 1....
15 Pages (3750 words) Case Study

Materials Used in Body Panels

Unlike repairing a vehicle made of steel, there is no coming back and cleaning it up if the work is not done correctly the first time.... steel, aluminum, plastic, fiberglass, and composites have all been used.... Because aluminum is a lighter material than steel, it is used by automakers to reduce the weight of the vehicle, and in turn improving fuel economy and performance.... More training is the solution to the problem, and though it does not require that much more time or expense to repair aluminum body panels, there still need to be qualified technicians to do it because it is different than repairing steel or plastic body panels....
8 Pages (2000 words) Essay

Guns Germs and Steel the Fates of Human Society

The author of this book report "Guns Germs and steel the Fates of Human Society" comments on the documented book on the history of human civilization.... he book, “Guns, Germs, and steel: The Fates of Human Society” was initially published under a different title indicating the content of the title pertinently.... The book was published with the title, “Guns, Germs, and steel: A short history of everybody for the last 13,000 years”....
5 Pages (1250 words) Book Report/Review

Manufacturing processes

Its disadvantages are the limitation of carbon steels because of availability of more economical steel welding techniques.... Ideate phase is where the product designers brainstorm on different ideas and finding solutions for design problem.... The brainstorming sessions aims to plan or improve the… The second phase is Select or detailed design where the designers decide to choose a few ideas discussed, especially the one that guarantees the success of the product....
5 Pages (1250 words) Research Paper

The Most Beautiful Object in the Museum

A few questions crossed my mind while looking at this artwork.... Certain questions that boggled me were; I am a fan of motion and fluidity.... Maybe this style is an expression of mechanical elements but it does not make me want to spend time looking at Morris's work.... Upon reading the description of her work, it was revealed that it represents Rio de Janiero's architecture.... Its prominent features include the interplay between rigid, lifeless elements such as steel and aluminum and giving them the theatrical animation turning them into eye-catching sculptures....
3 Pages (750 words) Essay

Paper Pro Punch Manufacturing Analysis

The material that is used in the punches and in the lever is generally of steel.... steel is one of the strongest alloys of the... Thus, it is not very portable to carry in the pocket.... However, there are also some of the punches that are made up of plastic and are comparatively lighter in weight (Paper Pro Inc....
6 Pages (1500 words) Case Study

Introduction to Materials, Tribology and Surface Engineering

This assignment "Introduction to Materials, Tribology and Surface Engineering" presents steel as the most widely recycled material.... It is an advantage to recycle steel economically and that has been the reason why it has been continued for more than 150 years.... hellip; Recycling steel is cheaper than iron ore and it is easy to manipulate the old steel to form new steel through the production process.... The advantage of steel is that no physical properties are lost when recycled and that has helped to reduce energy and material requirements when compared with iron ore refinement....
22 Pages (5500 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us