Executive Managament Essay

1184 words - 5 pages

Macy’s is one of the nation’s premier retailers but a problem has occurred with their inventory of winter apparel. The winter is near and the store knows that an influx of customers will be coming in to purchase winter apparel for their families for the winter season. The manager looked over the inventory and realized that there is a shortage in winter coats again. Macys has a recurring issue in regard to the shortage in inventory because of the department assuming how many coats they would need for the department. For the past few years this approach has worked completely fine, however, this year the department was not so fortunate. The department had sold their last winter coat and ...view middle of the document...

Raw Data
The raw data used to generate the frequency and normal distribution is the University of Phoenix Material: Winter Historical Inventory Data. This data provides the actual total of winter coats sold by Macy’s Inc. during the course of four years. This data not only will generate the frequency and normal distribution of the company’s inventory, it will also calculate the mode, median, mean and the standard deviation.

Typical Seasonal Demand for Winter Highs

Actual Demands (in units)

Month Year 1 Year 2 Year 3 Year 4
1 55,200 39,800 32,180 62,300
2 57,350 64,100 38,600 66,500
3 15,400 47,600 25,020 31,400
4 27,700 43,050 51,300 36,500
5 21,400 39,300 31,790 16,800
6 17,100 10,300 31,100 18,900
7 18,000 45,100 59,800 35,500
8 19,800 46,530 30,740 51,250
9 15,700 22,100 47,800 34,400
10 53,600 41,350 73,890 68,000
11 83,200 46,000 60,200 68,100
12 72,900 41,800 55,200 61,100


Frequency Distribution

Frequency Distribution- Quantitive
Year 1 cumulative
lower upper midpoint width frequency percent frequency percent
10,000 < 20,000 15,000 10,000 8 16.7 8 16.7
20,000 < 30,000 25,000 10,000 4 8.3 12 25.0
30,000 < 40,000 35,000 10,000 11 22.9 23 47.9
40,000 < 50,000 45,000 10,000 8 16.7 31 64.6
50,000 < 60,000 55,000 10,000 7 14.6 38 79.2
60,000 < 70,000 65,000 10,000 7 14.6 45 93.8
70,000 < 80,000 75,000 10,000 2 4.2 47 97.9
80,000 < 90,000 85,000 10,000 1 2.1 48 100.0

48 100.0


• How the frequency distribution might be used to better understand and improve the inventory system.
• The frequency distribution can be understood as analyzing data based on the amount of inventory that is available. The frequency distribution informs Macy’s that the company inventory is less than 20,000 at 16.7% of the time. The distribution can assist with the inventory system by informing Macy’s if they are carrying more inventory than needed, not producing unnecessary invoices and making sure there are enough products so company will not lose customers.

Normal Distribution

• How the normal distribution might be used to better understand and improve the inventory system.

Mode, Median and Mean Data
The...

Other Papers Like Executive Managament

Hate Crime Laws Essay

2348 words - 10 pages On June 7, 1998, 49-year-old James Byrd Jr. of Texas accepted a ride from three white men, who then beat him severely, urinated on him, chained him by his ankles to the back of their pick-up truck, dragged him for three miles into the countryside, and dumped his corpse in front of an African-American cemetery (Graczyk). A little over a year later, a jury sentenced ring leader John King to death by lethal injection (“Man Executed for Dragging

Rational Emotional Behavior Therapy Case Study Conceptualization And Treatment Plan

2140 words - 9 pages Rational Emotional Behavior Therapy Case Study of Sarah: A Conceptualization and Treatment Plan Rational emotive behavior therapy, REBT, was developed by Albert Ellis and holds the central belief that the events in our lives do not cause our disturbances but that they are instead caused by our view of the events (Murdock, 2009). Murdock (2009) states that “people are seen as responsible for their behavior” (p. 279) but, because they are

Holidays In Albania

1636 words - 7 pages Have you ever thought about having exciting and incredibly cheap vacations? Albania might be the right choice. According to My Travel Guide, Albania is ranked the fourth among ten places worth visiting in Eastern Europe (“Top 10 Eastern European Destinations”). One can encounter three kinds of vacations in this Mediterranean country: winter, summer, and cultural. The ideal places to spend your winter vacations are the Albanian Alps. They are

A Heart Of Darkness

1748 words - 7 pages In this short story, there are frequent significant subject and ideas that make the story, "A Heart of Darkness," by Joseph Conrad, and haunting novel. The main theme is absolute white power over the natives. The theme validates the corruption, and the dependence caused by the white people as they took over the Congo. White men were giving all the power; they had no self-control, and in the end they did not use wisely. The white men became

The Aspects Of Vulnerability Among The Exploited In Medical Research

2287 words - 10 pages Essentially, everyone is in some state of vulnerability. However, some of us are more susceptible to harm due to our vulnerabilities. The susceptible are the individuals with the greatest risk. These individuals risk the loss of their autonomy, and maybe even their lives. Vulnerable populations can be found in every subset of society. However, as previously mentioned, there are some vulnerable populations that are at an even greater risk than

The Hitchhiker’S Guide To The Galaxy

1171 words - 5 pages The Hitchhiker’s Guide to the Galaxy As the human race makes life-changing discoveries, it is made apparent that there is always more to learn as the universe, instead of becoming familiar, is becoming absurd. The Hitchhiker’s Guide to the Galaxy, written by Douglas Adams, as well as the 2005 film adaption, portrays absurdity to be an all-encompassing system in the universe. Through the introduction and attempt to understand lack of reason, the

The Ford Motor Company Wage Increase Of 1914 And The Theory Of Incentives And Efficiency Wages

1252 words - 6 pages ‘It’s not the employer who pays the wages. Employers only handle the money. It is the customer who pays the wages’ (Henry Ford, cited in Johnson and Weinstein 2004, p. 2). When the Ford Motor Company announced that it would more than double the wages of its workers in January 1914 to a ‘five-dollar day’ minimum, was this a contradiction to Henry Ford’s statement? If customers are actually the ultimate payers of wages, then more than

Historical Analysis Of The Economical Breakthroughs Of The Industrial Revolution

1396 words - 6 pages A Historical Analysis of the Economical Breakthroughs of the Industrial Revolution During the Industrial Revolution, many elements of society experienced huge breakthroughs that would change the way they functioned forever. Economics were definitely one of them. With many new inventions and many factories appearing, many, many, more resources were being created than ever before. Also, all of the revenue from these resources was being given to

Leadership Portrayed in Monologue from Shakespeare’s Henry V

1214 words - 5 pages Leadership is defined as a socially constructed process and which also affect organizational future outcomes. Leader is someone at high position who have overall duty for an organization, she or he decide what to do and the way how to achieve it. (Carter and Greer, 2013)The role of leader is extremely important for an organization, leader use their own power to influence the followers though many different ways such as motivation in order to

Cuba Civil Rights

1906 words - 8 pages Picture a country that has limits on how much you can make random government imprisonments and more what do you do. That is the situation for the eleven million seventy-five thousand two hundred forty-four people of Cuba since the takeover of Fidel Castro. The US is opposed to Castro taking control of Cuba. Castro managed to ease the United States nerves when he said that Cuba was against all forms of communism. According to Lana Wylie the Union

US Freight System

1273 words - 6 pages General Environment Each American requires the movement of approximately 40 tons of freight per year across the freight network. This includes everything from shirts to lawn mower to orange juice. • As the U.S. population expands, the U.S. freight system will be called upon to meet the demands of a larger population • Between 2010 and 2035, the system will experience a 22 percent increase in the total amount of tonnage it moves • By 2050, with

Related Essays

El Reclutamiento En Empresa Vida Essay

1177 words - 5 pages El Reclutamiento de Personal en la Empresa Privada Victor M. Gaud Pacheco Estudiante Executive MBA Universidad Interamericana,P.R

How Far Can Business Methods Developed In One Country Be Applied In Another

1826 words - 8 pages strategy of the company, appointing an Executive Board made up of senior direcors, which concentrates on short-term, operational issues. Most Japanaes directors have line responsibilities, and this gives the Executive Board a strong production emphais. A second difference is that the trade unions in Japan are company based rather than occupationally based, as in Britain. The company based approach to trade union organisation is a reflection of a

Prime Bank Limited Essay

4793 words - 20 pages Limited. EXECUTIVE COMMITTEE: Mohammed Aminul Hoque, Chairman Mohammad Aminul Haque former Chairman and present Director of Prime Bank Limited was born on January 01, 1940 at Rajshahi. He comes from a respectable Muslim family. After graduating in Mechanical Engineering from Bangladesh University of Engineering & Technology, Dhaka in 1962 he joined Water and Power Development Authority (WAPDA) an autonomous body, as a Design

Freedom And Responsibility Essay

2141 words - 9 pages Built within the Constitution of the United States are specifically defined freedoms that are guaranteed to all citizens. Conversely, with every constitutional freedom there comes a corresponding responsibility. On September 25, 1789, the state legislature’s twelve proposed amendments were transmitted by congress, the first two dealing with congressional representation and congressional pay. The following numbers three through twelve were