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Essay / Research Paper Abstract
This 3 page paper considers the way in which the concept of probability can be used for good business decisions. In this case a company needs to cut costs, probability is used to assess the level of potential business lost, and the potential savings if a company reduces the level of deliveries made each week. The assume data is from the previous sales trends. The bibliography cites 2 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEdelsales.rtf
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Unformatted sample text from the term paper:
- Saturday. However, with increasing fuel costs and a strategy that includes free local delivery the cot of the deliveries are increasing, and as there is a recession the firm
has been facing a fall in sales. Each day the delivery truck has a similar route, and on many days the truck is leaving only half full. There is the
potential to make a significant saving each week if the delivery is reduced to only 5 days a week. Probability may be used access data from past sales, to determine
if there is the potential to reduce the delivery days to 5 and to assess the potential cost that this will have. When assessing this there have to be some
assumption, so we will make the assumption that the store has delivery records from the past that can be used to make forecasts, we will also assume that if there
are two delays faced, for example, that where a customer cannot get the second choice of delivery sate, that the sale is likely to be lost. In the past
there have been times when the deliveries could not be made on the desired days, it is possible for the use of these past sales statistics to give an indication
on the potential for a sale to be lost because the delivery cannot take place on a specific day. Using the sales figures1 the following were found based on orders
where the initially requested delivery say could not be provided, the top line are the original delivery days requested by the customers. Sat Mon Tues Weds Thurs Fri
Probability sale will be lost 0.1 0.05 0.05 0.05 0.05 0.05 Probability sale will be moved to another 0.9 .095 .095 .095 .095 .095
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