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We can work on Forecast temperature applied to transportation.
We have a potential to move about 8000 loads on vans, if conditions permit, in the spring. Currently only about 3000 of the 8000 loads are moved on vans. The remaining loads are moved on refrigerated equipment do to quality concerns. We could potentially move up to an additional 5000 loads with good temperature forecasting. We have an 87% On Day Pick up in the spring, for the applicable 8000 loads. Over 1000 loads, over the 3 month period, have to roll over at least one day due to lack of availability of refrigerated equipment. With better temperature forecasting, we could assign many of these loads to vented vans, expanding our asset supply. Average rate per mile saving on vented vans over refrigerated equipment is +- $0.43 / per mile on an average 1300 miles per load or a potential savings of $559.00 per load.
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Look for software that can forecast temperature and can be applied to transportation. See if there are any software companies out in the market that provide this service. Get some information form them to see if what they have could be applied to our opportunity. Look at our process and see if there might be a way to increase the accuracy and speed. Can we safely load more 53 vans with our current system by tweaking the process?
Sample Solution
described as stagflation. According to Keynesianism criticizers stagflation was an inevitable inheritance of demand management policies associated with Keynesian economics (Baumol and Blinder, 2006) Economists emphasize that there are two principal reasons of stagflation. First, a negative supply shock can decrease the productive ability of an economy. Examples of unfavorable shocks involve a raise in oil prices for an importing nation. Such shocks have an inclination of raising prices and slowing down the economy by the increasing costs of production and reducing lucrativeness at the same time (Guillermo & Rodrigo 2008). The second plausible cause of stagnation is inappropriate macroeconomic strategies. For example, letting an extreme growth in the supply of currency can escalate inflation, and the government can generate stagnation by using intense regulation of goods and the labor market. These two aspects performed an important role in triggering the 1970s worldwide stagflation that led to the fall of Keynesian economics. The stagflation began with huge increases in oil prices and continued, because central banks used the intense simulative monetary policy to solve the recession. The fall of Keynesianism also credited to the fact that many economists did not take into account the probability of stagflation (Blinder, 2013). Historical data pointed out that high unemployment rates were related with low inflation rates and vice versa, as shown in the Phillips curve (Khan Academy, 2017). The theory was that a high demand for goods increased prices, which in turn stimulated companies to employ more people. Likewise, high employment rates augmented demand. During the 1970s stagflation, it became obvious that the link between inflation rates and employment levels was sometimes unstable. As a result, macroeconomists were unconvinced about Keynesianism, eventually steering to the end of the impact of Keynesian theories in economic strategies. Monetarist economists, such as Edmund Phelps and Milton Friedman clarified a shift in the Phillips curve: they maintained that when companies and workers anticipated high inflation, there was a shifting up of the Phillips curve, suggesting that high inflation can occur at any rate of unemployment (Khan Academy, 2017). Unambiguously, they argued that if inflation remained high for many years, workers and companies would begin emphasizing its consequences during wage negotiations, causing in a quick increase of earnings and firmsâ prices, which further quickened inflation. This enlightenment was an extreme case of criticism of Keynesianism, and Keynesians progressively agreed the explanation. This reduced Keynesianism spread and influence on economic policies.>
described as stagflation. According to Keynesianism criticizers stagflation was an inevitable inheritance of demand management policies associated with Keynesian economics (Baumol and Blinder, 2006) Economists emphasize that there are two principal reasons of stagflation. First, a negative supply shock can decrease the productive ability of an economy. Examples of unfavorable shocks involve a raise in oil prices for an importing nation. Such shocks have an inclination of raising prices and slowing down the economy by the increasing costs of production and reducing lucrativeness at the same time (Guillermo & Rodrigo 2008). The second plausible cause of stagnation is inappropriate macroeconomic strategies. For example, letting an extreme growth in the supply of currency can escalate inflation, and the government can generate stagnation by using intense regulation of goods and the labor market. These two aspects performed an important role in triggering the 1970s worldwide stagflation that led to the fall of Keynesian economics. The stagflation began with huge increases in oil prices and continued, because central banks used the intense simulative monetary policy to solve the recession. The fall of Keynesianism also credited to the fact that many economists did not take into account the probability of stagflation (Blinder, 2013). Historical data pointed out that high unemployment rates were related with low inflation rates and vice versa, as shown in the Phillips curve (Khan Academy, 2017). The theory was that a high demand for goods increased prices, which in turn stimulated companies to employ more people. Likewise, high employment rates augmented demand. During the 1970s stagflation, it became obvious that the link between inflation rates and employment levels was sometimes unstable. As a result, macroeconomists were unconvinced about Keynesianism, eventually steering to the end of the impact of Keynesian theories in economic strategies. Monetarist economists, such as Edmund Phelps and Milton Friedman clarified a shift in the Phillips curve: they maintained that when companies and workers anticipated high inflation, there was a shifting up of the Phillips curve, suggesting that high inflation can occur at any rate of unemployment (Khan Academy, 2017). Unambiguously, they argued that if inflation remained high for many years, workers and companies would begin emphasizing its consequences during wage negotiations, causing in a quick increase of earnings and firmsâ prices, which further quickened inflation. This enlightenment was an extreme case of criticism of Keynesianism, and Keynesians progressively agreed the explanation. This reduced Keynesianism spread and influence on economic policies.>
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