DQ 1: Developing a Compensation Plan
In this assignment, you will have the opportunity to apply concepts in a situation emphasizing alignment of external competitiveness with the organization’s ongoing recruitment efforts.
XYZ, a construction company, has recently obtained a large project that requires them to hire 15 experienced welders in Casper, Wyoming. Casper has very few welders locally so XYZ needs to recruit welders who will relocate to Wyoming for the duration of the project.
XYZ is not familiar with compensation methods for welders and is unsure how to design a compensation plan that will be attractive to welders.
Determine the problems XYZ might encounter in developing a competitive compensation plan that will attract welders to work for their company in Casper. Propose how XYZ should begin the process of establishing a competitive compensation plan for welders and the techniques and data collection methods they should use to develop an effective compensation plan for the welders.
This is my DQ 2
Discussion-Competitiveness and Inventory Management
To be competitive, many fast-food chains expanded their menus to include a wider range of foods. Although contributing to competitiveness, this has added to the complexity of operations, including inventory management. In what ways did the expansion of menu offerings create a problem for inventory management? One form of inventory is safety stock, which is primarily carried by companies to ensure a variety of products is available at all times. However, safety stock ties up capital and hinders cash flow.
Using the Argosy University online library resources and the Internet, research safety stock.
Then respond to the following:
As a manager, what recommendations could you provide to reduce inventories as it relates to safety stock?
What parameters would lead you to believe that (a) large safety stock, (b) small safety stock, and (c) zero safety stock would be advantageous for the organization? Be sure to provide examples and data in support.
What are some of the ways in which a company can reduce the need for inventories?
How has technology aided inventory management?
How have technological improvements in products such as automobiles and computers impacted inventory decisions?
