inventory management

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pages: 220 words: 73,451

Democratizing innovation by Eric von Hippel

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additive manufacturing, correlation coefficient, Debian, hacker house, informal economy, information asymmetry, inventory management, iterative process, James Watt: steam engine, knowledge economy, meta analysis, meta-analysis, Network effects, placebo effect, principal–agent problem, Richard Stallman, software patent, transaction costs, Vickrey auction

One consequence of the information asymmetry between users and manufacturers is that users tend to develop innovations that are functionally novel, requiring a great deal of user-need information and use-context information for their development. In contrast, manufacturers tend to develop innovations that are improvements on well-known needs and that require a rich understanding of solution information for their development. For example, firms that use inventory-management systems, such as retailers, tend to be the developers of new approaches to inventory management. In contrast, manufacturers of inventory-management systems and equipment tend to develop improvements to the equipment used to implement these user-devised approaches (Ogawa 1998). If we extend the information-asymmetry argument one step further, we see that information stickiness implies that information on hand will also differ among individual users and manufacturers.

Ogawa (1998) took the next necessary step and conducted an empirical study that did control for profitability of innovation opportunities. He too found the sticky-information effect—this time visible in the division of labor within product-development projects. He studied patterns in the development of a sample of 24 inventory-management innovations. All were jointly developed by a Japanese equipment manufacturer, NEC, and by a user firm, Seven-Eleven Japan (SEJ). SEJ, the leading convenience-store 72 Chapter 5 company in Japan, is known for its inventory management. Using innovative methods and equipment, it is able to turn over its inventory as many as 30 times a year, versus 12 times a year for competitors (Kotabe 1995). An example of such an innovation jointly developed by SEJ and NEC is just-intime reordering, for which SEJ created the procedures and NEC the handheld equipment to aid store clerks in carrying out their newly designed tasks.


pages: 296 words: 78,227

The 80/20 Principle: The Secret to Achieving More With Less by Richard Koch

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Albert Einstein, always be closing, barriers to entry, business process, delayed gratification, fear of failure, income inequality, inventory management, Johann Wolfgang von Goethe, knowledge worker, profit maximization, rolodex, Ronald Reagan, Vilfredo Pareto, wage slave

Finally, if you must hold a certain amount of stock, there are many tactical ways to use the 80/20 Principle to cut costs and speed up picking and packing: The 80/20 rule is reliable in many applications, meaning that about 80 percent of the activity involves only about 20 percent of the inventory. The areas divided by size and weight…can now also be divided by part number into areas of high or low activity. In general, fast-moving items should be located as close to the shoulder-hip zone as possible, to minimize operator movement and reduce fatigue.4 Inventory management in the future Despite its historical overtones of the brown coat and the dusty store, inventory management is a fast-moving and exciting area. “Virtual inventory,” with on-line order processing, is becoming widespread, lowering costs but also improving service to distributors and customers. Innovators such as Baxter International’s hospital supply business are having great success with “customer-intimate” inventory systems. In all cases, progress is being driven by focus: focus on the most important customers, focus on a simple product line, simply tracked and simply delivered.

Previous chapters have already covered my top six uses: strategy in Chapters 4 and 5; quality and information technology in Chapter 3; cost reduction and service improvement in Chapter 5; and marketing and sales in Chapter 6. The current chapter provides a summary of the other four applications of the 80/20 Principle in my hit parade. * * * 1 Strategy 2 Quality 3 Cost reduction and service improvement 4 Marketing 5 Selling 6 Information technology 7 Decision making and analysis 8 Inventory management 9 Project management 10 Negotiation * * * Figure 34 The Top 10 business applications of the 80/20 Principle DECISION MAKING AND ANALYSIS Business requires decisions: frequent, fast, and often without much idea whether they are right or wrong. Since 1950, business has increasingly been blessed, or if you prefer plagued, by management scientists and analytical managers incubated in business schools, accounting firms and consultancies, who can bring analysis (usually linked to extensive and expensive data gathering) to bear on any issue.

Most of the investments in their portfolio fail to meet their expectations, but they are redeemed by a few superstar investments that succeed beyond everyone’s wildest dreams. When a business keeps performing below its budgets, you may be sure you have a dog. When a business consistently outperforms expectations, there is at least a good chance that it can be multiplied by ten or a hundred times. In these circumstances, most people settle for modest growth. Those who seize the day become seriously rich. INVENTORY MANAGEMENT We saw in Chapter 5 that simplicity requires few products. Managing stock is another key discipline flowing from the 80/20 Principle. Good stock keeping, following the 80/20 Principle, is vital to profits and cash; it is also an excellent check on whether a business is pursuing simplicity or complexity. Nearly all businesses have far too much stock, partly because they have too many products and partly because they have too many variants of each product.


pages: 167 words: 50,652

Alternatives to Capitalism by Robin Hahnel, Erik Olin Wright

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3D printing, affirmative action, basic income, crowdsourcing, inventory management, iterative process, Kickstarter, loose coupling, means of production, Pareto efficiency, profit maximization, race to the bottom, transaction costs

Whenever consumer councils and federations (which will function like clearing houses for adjustments) discover that changes do not cancel out, the national consumer federation will have to discuss adjustments with industry federations of worker councils. Computerized inventory management systems and “real time” supply chains are already fixtures in the global economy, which makes adjustments much smoother than they would have been only a few decades ago. (p. 85) The actual process by which these adjustments will occur is not very clear to me, but even with the best inventory management systems one can imagine, there will still be excess inventory of some goods in the system and shortfalls in others. The most obvious way that excess inventory will be dealt with is by allowing people to acquire these things less expensively.

However, this is not the case for participatory planning. Nobody in a participatory economy needs to acquire detailed information about the production capabilities of production units, and nobody requires the services of supercomputers. Where relatively new modern technology would be helpful in running a participatory economy is in adjusting for changes during the year from what was planned and approved. Computerized inventory management systems and “real time” supply chains—which are now fixtures in the global economy—make adjustments during the year much smoother than they would have been a few decades ago. 7Readers interested in these technical issues should see Michael Albert and Robin Hahnel, Chapter 5 in The Political Economy of Participatory Economics (New Jersey: Princeton University Press, 1991); “Socialism as It Was Always Meant to Be,” Review of Radical Political Economics 24, no. 3–4 (Fall and Winter 1992): 46–66; “Participatory Planning,” Science and Society 56, no. 1 (Spring 1992): 39–59; and Hahnel, “Wanted: A Pollution Damage Revealing Mechanism,” forthcoming in the Review of Radical Political Economics.


pages: 421 words: 110,406

Platform Revolution: How Networked Markets Are Transforming the Economy--And How to Make Them Work for You by Sangeet Paul Choudary, Marshall W. van Alstyne, Geoffrey G. Parker

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3D printing, Affordable Care Act / Obamacare, Airbnb, Alvin Roth, Amazon Mechanical Turk, Amazon Web Services, Andrei Shleifer, Apple's 1984 Super Bowl advert, autonomous vehicles, barriers to entry, big data - Walmart - Pop Tarts, bitcoin, blockchain, business process, buy low sell high, chief data officer, Chuck Templeton: OpenTable, clean water, cloud computing, connected car, corporate governance, crowdsourcing, data acquisition, data is the new oil, digital map, discounted cash flows, disintermediation, Edward Glaeser, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, financial innovation, Haber-Bosch Process, High speed trading, information asymmetry, Internet of things, inventory management, invisible hand, Jean Tirole, Jeff Bezos, jimmy wales, John Markoff, Khan Academy, Kickstarter, Lean Startup, Lyft, Marc Andreessen, market design, Metcalfe’s law, multi-sided market, Network effects, new economy, payday loans, peer-to-peer lending, Peter Thiel, pets.com, pre–internet, price mechanism, recommendation engine, RFID, Richard Stallman, ride hailing / ride sharing, Robert Metcalfe, Ronald Coase, Satoshi Nakamoto, self-driving car, shareholder value, sharing economy, side project, Silicon Valley, Skype, smart contracts, smart grid, Snapchat, software is eating the world, Steve Jobs, TaskRabbit, The Chicago School, the payments system, Tim Cook: Apple, transaction costs, two-sided market, Uber and Lyft, Uber for X, winner-take-all economy, zero-sum game, Zipcar

OpenTable solved the problem by first distributing booking management software that restaurants could use to manage their seating inventory. Once OpenTable had enough restaurants on board, they built out the consumer side, which allowed them to start booking tables and collecting a lead generation fee from the restaurants. The Indian bus reservation platform redBus gained traction in a similar manner. It provided bus operators with a seating inventory management system, then opened the platform to consumers once bus operators had started using the software. Delicious is a social networking site that allows users to share lists of web bookmarks—links to Internet content that individuals love and that they want to revisit again and again. Delicious gained initial traction by allowing early users to produce valuable content in stand-alone mode, using Delicious to store browser bookmark lists in the cloud for their personal consumption.

In response, Google has reversed course and closed Android in an effort to reassert its control over the system.13 (We’ll return to this story later in the chapter.) In the end, of course, the choice of a sponsorship/management model comes down to the purposes for which the platform is being developed and the goals of those designing it. The wireless radio frequency identification (RFID) technology is used to create smart tags that can be attached by the millions to products for inventory control. In effect, the RFID system is an inventory management platform that retailers can access to interact with the goods they distribute. The RFID platform was sponsored by a huge consortium of retailers, and the tags themselves are now manufactured by many companies which compete on the basis of price as well as design. The shared model of sponsorship and management means that the RFID technology itself doesn’t generate enormous profits for anyone—the tags sell for just a few cents apiece.

This explains why media and telecom are two of the industries that have already been disrupted so thoroughly by platforms. New entrants have created ecosystems that can create and disrupt content and software more quickly and easily than large firms with thousands of employees once did. • Industries with non-scalable gatekeepers. Retailing and publishing are two examples of industries that traditionally have employed expensive, non-scalable human gatekeepers—buyers and inventory managers in the case of retail, editors in the case of publishing. Both are already undergoing disruption thanks to the rise of digital platforms, with millions of producers (artisans, craftspeople, writers) creating and marketing their own goods through platforms like Etsy, eBay, and Amazon. • Highly fragmented industries. Market aggregation through a platform increases efficiencies and reduces search costs for businesses and individuals looking for goods and services created by far-flung local producers.


pages: 209 words: 13,138

Empirical Market Microstructure: The Institutions, Economics and Econometrics of Securities Trading by Joel Hasbrouck

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Alvin Roth, barriers to entry, conceptual framework, correlation coefficient, discrete time, disintermediation, distributed generation, experimental economics, financial intermediation, index arbitrage, information asymmetry, interest rate swap, inventory management, market clearing, market design, market friction, market microstructure, martingale, price discovery process, price discrimination, quantitative trading / quantitative finance, random walk, Richard Thaler, second-price auction, selection bias, short selling, statistical model, stochastic process, stochastic volatility, transaction costs, two-sided market, ultimatum game, zero-sum game

These analyses (which generally predate the asymmetric information models) essentially view the securities dealer as being similar in key respects to a dealer in any other commodity. Normally a vendor maintains an inventory to accommodate randomly arriving purchasers. A securities dealer, of course, must also accommodate randomly arriving sellers and in fact must replenish inventory by buying from these sellers. This complicates the inventory management problem. Control relies on order arrival rates that are sensitive to the prices posted by the dealer. The inventory control models predict that the dealer will have a preferred inventory level. Such a preference, though, may also arise from risk aversion. The discussion develops this point, its implications for dealer quotes, and multisecurity extensions. The discussion then examines some of the evidence on dealer positions and statistical issues that arise in analyzing the dynamics of these positions.

A dealer using public quotes would be signaling to the world at large his desire to buy or sell, putting him at a competitive disadvantage. Other liquidity suppliers face a similar sort of dilemma. A customer bidding with a limit order runs the risk that his bid will be matched by others in the market (quote matching) and that his order will be executed after those other bids or (in the worst case) not at all. If inventory management is not effected with publicly posted bid and offer quotes, though, how is it accomplished? There are a number of alternative mechanisms. They may be grouped in three categories: selective, nonpublic quoting; interdealer markets; and market-specific rules that allow dealers to participate in trades without public quoting. The first of these mechanisms typically arises from the practice (common in dealer markets) of making firm bids and offers only in response to an inquiry by a customer and visible and accessible only by that customer.


pages: 313 words: 75,583

Ansible for DevOps: Server and Configuration Management for Humans by Jeff Geerling

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Amazon Web Services, Any sufficiently advanced technology is indistinguishable from magic, cloud computing, continuous integration, database schema, Debian, defense in depth, DevOps, fault tolerance, Firefox, full text search, Google Chrome, inventory management, loose coupling, Minecraft, Ruby on Rails, web application

Because the v1 DigitalOcean API doesn’t support features like tags for Droplets, we need to set up the groups on our own. Using the droplets variable we manually created earlier allows us to set the proper group for a particular droplet. Finally we add inventory variables per-host in add_host by adding the variable name as a key, and the variable value as the key’s value. Simple, but powerful! There are a few different ways you can approach dynamic provisioning and inventory management for your infrastructure, and, especially if you are only targeting one cloud hosting provider, there are ways to avoid using more exotic features of Ansible (e.g. with_indexed_items) and complex if/else conditions. This example is slightly more complex due to the fact that the playbook is being created to be interchangeable with other similar provisioning playbooks. The final step in our provisioning is to make sure all the droplets are booted and can be reached via SSH, so at the end of the digitalocean.yml playbook, add another play to be run on hosts in the do group we just defined: 43 - hosts: do 44 remote_user: root 45 gather_facts: no 46 47 tasks: 48 - name: Wait for port 22 to become available. 49 local_action: "wait_for port=22 host={{ inventory_hostname }}" Once we know port 22 is reachable, we know the droplet is up and ready for configuration.

For smaller teams, especially when everyone on the team is well-versed in how to use Ansible, YAML syntax, and follows security best practices with playbooks and variables files, using the CLI can be a sustainable approach. But for many organizations, there are needs that stretch basic CLI use too far: The business needs detailed reporting of infrastructure deployments and failures, especially for audit purposes. Team-based infrastructure management requires varying levels of involvement in playbook management, inventory management, and key and password access. A thorough visual overview of the current and historical playbook runs and server health helps identify potential issues before they affect the bottom line. Playbook scheduling can help ensure infrastructure remains in a known state. Ansible Tower checks off these items—and many more—and provides a great mechanism for team-based Ansible usage. The product is currently free for teams managing ten or fewer servers (it’s basically an ‘unlimited trial’ mode), and has flexible pricing for teams managing dozens to thousands of servers.


pages: 265 words: 70,788

The Wide Lens by Ron Adner

barriers to entry, call centre, Clayton Christensen, inventory management, iterative process, Jeff Bezos, Lean Startup, M-Pesa, minimum viable product, mobile money, new economy, RAND corporation, RFID, smart grid, smart meter, spectrum auction, Steve Ballmer, Steve Jobs, Steven Levy, supply-chain management, Tim Cook: Apple, transaction costs

But as these innovation strategies diffused more broadly across organizations, their mastery stopped being a source of differentiation and became, instead, simply an operational requirement for getting in the game. Today we are witnessing another transition point. The enormous benefits that accrued to firms who mastered supply chain management—global procurement, just-in-time-production, lean inventory management—are still real, but they are now widely shared. In industry after industry, we see a major change taking place as firms shift from using supply chains to offer better products to embracing partnerships and collaboration to offer better “solutions.” It isn’t enough for an auto manufacturer to produce a reliable, fast, efficient car: it also needs to offer state-of-the-art computer navigation and entertainment systems.

It expanded its links beyond cardiologists and patients to create new interactions with additional members of the hospital ecosystem, including information technology professionals, hospital administrators, and insurers. In parallel, it found ways to carry over elements from this expanded cardiology ecosystem to make inroads into new areas of the medical sector like neurology and endocrinology with innovative technology solutions like neurostimulation and implantable drug delivery systems. FedEx’s growth from overnight shipping to orchestrating a range of supply chain and inventory management services, eBay’s extension from online auction house (its original MVE) to virtual shopping mall to e-payment broker (PayPal) to creditor (Bill Me Later), Facebook’s expansion from social network to media platform, and Amazon’s creation of business-to-business service offers alongside its retail operations were all driven by the same fundamental principles of MVE, staged expansion, and ecosystem carryover.


pages: 435 words: 127,403

Panderer to Power by Frederick Sheehan

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Asian financial crisis, asset-backed security, bank run, banking crisis, Bretton Woods, British Empire, call centre, central bank independence, collateralized debt obligation, corporate governance, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, deindustrialization, diversification, financial deregulation, financial innovation, full employment, inflation targeting, interest rate swap, inventory management, Isaac Newton, John Meriwether, Long Term Capital Management, margin call, market bubble, McMansion, Menlo Park, money market fund, mortgage debt, Myron Scholes, new economy, Norman Mailer, Northern Rock, oil shock, Paul Samuelson, place-making, Ponzi scheme, price stability, reserve currency, rising living standards, rolodex, Ronald Reagan, Sand Hill Road, savings glut, shareholder value, Silicon Valley, Silicon Valley startup, South Sea Bubble, supply-chain management, supply-chain management software, The Great Moderation, too big to fail, transaction costs, trickle-down economics, VA Linux, Y2K, Yom Kippur War, zero-sum game

Years later, the Wall Street Journal reviewed the chairman’s campaign: Alan Greenspan began to push a reluctant Federal Reserve to embrace his New Economy vision of rapid productivity growth and rising living standards. . . . In October 1995, a group of supply managers from various industries visited the Fed to discuss the latest in high-efficiency “just-in-time” inventory management. . . . [One of the] executives described routing goods to drugstores: “They would load up a truck and without having orders send the truck out. The drugstore computer system would call the supplier, which would call the truck on the road and say, ‘Go to suchand-such store and deliver the following items’” . . . To [Edward] Kelley, the retiring Fed governor . . . who referred to himself as “an old inventory manager” . . . this was like “going to Mars.”9 The Greenspan Hypothesis The Fed chairman presented his proposal as a coherent whole at the December 19, 1995, FOMC meeting. He raised “a broad hypothesis about where the economy is going over the longer term and what the underlying forces are.”10 Greenspan was puzzled: “One would certainly assume that we could see [the acceleration of technological change] in the productivity data, but it is difficult to find it there.

Morgan Chase) 6, 73, 83, 93, 100, 101, 182, 185, 275 Jackson, Alphonso, 272 Jayhawk Acceptance Corporation, 165 James, Clive, 337 Jenrette, Richard, 33 Johnson, Edward C., II, 1 Johnson, Hugh, 329 Johnson, Jim, 275 Johnson, Lyndon, 27, 29, 39 Jones, Edward N., 278 Jones, Paul Tudor, II, 324 Jordan, Jerry, 170, 171, 175, 176, 193 JP Morgan Chase (see also J.P. Morgan), 274, 346 Juilliard School, 10 Junk bonds, 72, 80–81, 89, 93 Just-in-time inventory management, 159 K Kaufman, Henry, 220–221 Kavesh, Robert, 11, 59 Keating, Charles, 6–7, 85–93, 117 Keating Five scandal (see Lincoln Savings and Loan Association) Kelley, Edward, 199 Kennedy, John, 26 Kennedy, Robert, 320 Kennedy, Ted, 5, 67–68 Keon, Ed, 318 Keynes, John Maynard, 26 Keynesian economics, 26, 39 King, Mervyn, 331 Kissinger, Henry, 56, 69, 70, 74 Kissinger, Nancy, 74 Koch, Ed, 74 KKR (see Kohlberg Kravis Roberts & Co.)


pages: 518 words: 147,036

The Fissured Workplace by David Weil

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accounting loophole / creative accounting, affirmative action, Affordable Care Act / Obamacare, banking crisis, barriers to entry, business process, call centre, Carmen Reinhart, Cass Sunstein, Clayton Christensen, clean water, collective bargaining, commoditize, corporate governance, corporate raider, Corrections Corporation of America, Daniel Kahneman / Amos Tversky, David Ricardo: comparative advantage, declining real wages, employer provided health coverage, Frank Levy and Richard Murnane: The New Division of Labor, George Akerlof, global supply chain, global value chain, hiring and firing, income inequality, information asymmetry, intermodal, inventory management, Jane Jacobs, Kenneth Rogoff, law of one price, loss aversion, low skilled workers, minimum wage unemployment, moral hazard, Network effects, new economy, occupational segregation, Paul Samuelson, performance metric, pre–internet, price discrimination, principal–agent problem, Rana Plaza, Richard Florida, Richard Thaler, Ronald Coase, shareholder value, Silicon Valley, statistical model, Steve Jobs, supply-chain management, The Death and Life of Great American Cities, The Nature of the Firm, transaction costs, ultimatum game, union organizing, women in the workforce, Y2K, yield management

Fissuring Squared in the Logistics Industry Lean manufacturing is a core production strategy famously developed for the auto industry by Toyota and then widely diffused across the sector.1 Its objective is to reduce the amount of in-process and final inventory in a production system, carefully matching real-time demand for final products with the quantity of goods moving through the manufacturing and assembly process. In a complex manufacturing system like auto production, this requires high levels of coordination at each step in the process, careful management of capital and labor, attention to quality and factors that affect throughput, and an overhaul of management support systems, from accounting, to inventory management, to compensation. It also requires a different way of handling logistics—the movement of goods—within a manufacturer, between the manufacturer and its suppliers, and between the manufacturer and the end retailer of goods. As lean manufacturing spread to industries beyond the autos and into the retail sector, the importance of logistics as part of competitive strategy rose as well. The change is best seen in the evolving activities in a manufacturer’s warehouse.

This led to a seemingly endless cat-and-mouse game between the WHD and small-scale contractors, whereby efforts to reduce sweatshop conditions in the garment industry were thwarted by companies constantly going into and out of business, either because of the harsh competitive conditions in the industry or as a means of evading penalties for past violations. The dynamics of the apparel industry changed dramatically given the emergence of lean retailing. Lean retailing relies on information technology to provide retailers with real-time point-of-sale data for purposes of reordering products and inventory management. These practices reduce the need for retailers to stockpile large inventories, thereby reducing their risks of stock-outs, markdowns, and inventory-carrying costs. Apparel companies supplying to lean retailers must operate far more responsively and accept a great deal more consumer demand risk. Suppliers must replenish products within a selling season, with retailers requiring replenishment of orders in as little as three days.

By 2000 only GM, Ford, and Sears remained on that list (see G. Davis 2009, table 3.1). 2. This account is taken from Marc Levinson’s detailed study of the rise and fall of “the Great A&P.” See Levinson (2011). 3. Ibid., 81–84. Levinson quotes a Federal Trade Commission report of 1919 that noted, “The cost of these individual delivery systems … is a large item to be figured into the wholesale prices” (83). 4. The advantages of internalizing inventory management were huge, as shown by “inventory turns,” which is the amount of time required to turn over the inventory held by a retailer. At a time when its principal competitors’ inventory turns were four months (requiring paying interest, committing storage space, and bearing the risk of unsold goods for that amount of time), A&P had reduced its turns to a mere five weeks (ibid., 89). 5. A&P’s size in fact led fretful congressional leaders to pass the Robinson-Patman Act of 1936, which prohibited chain stores from receiving better pricing than smaller retailers. 6.


pages: 269 words: 104,430

Carjacked: The Culture of the Automobile and Its Effect on Our Lives by Catherine Lutz, Anne Lutz Fernandez

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barriers to entry, car-free, carbon footprint, collateralized debt obligation, failed state, feminist movement, fudge factor, Gordon Gekko, housing crisis, illegal immigration, income inequality, inventory management, market design, market fundamentalism, mortgage tax deduction, Naomi Klein, Nate Silver, New Urbanism, oil shock, peak oil, Ralph Nader, Ralph Waldo Emerson, ride hailing / ride sharing, Thorstein Veblen, traffic fines, Unsafe at Any Speed, urban planning, white flight, women in the workforce, working poor, Zipcar

We sort of liked Pete, despite his disconcerting habit of declaring how honest he was. We tried to shrug off some discomfort: as a member of a profession that has a tenuous reputation for integrity, maybe Pete was just a bit defensive. Pete rummaged through his desk and produced a brochure. After reviewing the eight different options packages available, we chose a more basic, level 3 package. Pete would have to go see what his inventory manager could locate and left us for a few minutes, returning to tell us that we were in great luck! He could get us a level 4 Prius in less than two weeks. Were we interested? Yes, we were, but we needed to know how much he was asking. Pete thought he could get us the car for $25,000. Were we interested? We told him we needed a few minutes, so Pete left us alone. To someone who had paid about $15,000 for their last vehicle, $25,000 seemed like a lot of money for a car.

To someone who had paid about $15,000 for their last vehicle, $25,000 seemed like a lot of money for a car. Pete explained that there was no state sales tax on hybrids, and we could apply for a federal tax deduction, so the premium over sticker should not concern us. We were committed to buying a hybrid and the price was a lot better than the $28,000 the first Toyota dealer had quoted for the exact same car. When Pete returned, we told him yes. “Great,” he said, “let me just go check with my inventory manager.” We were excited. We were going to get a new car! This wave of euphoria quickly disappeared as Pete returned with bad news. The Prius he had for us was not a level 4 but a level 8, the fully loaded model. It would be nearly $28,000. How could the car suddenly change from a level 4 to a level 8 in the course of twenty minutes? The level 4, Pete gave us by way of very limited explanation, was gone.


pages: 346 words: 101,763

Confessions of a Microfinance Heretic by Hugh Sinclair

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accounting loophole / creative accounting, Bernie Madoff, colonial exploitation, en.wikipedia.org, end world poverty, financial innovation, financial intermediation, Gini coefficient, high net worth, illegal immigration, inventory management, microcredit, Northern Rock, peer-to-peer lending, pirate software, Ponzi scheme, principal–agent problem, profit motive

The advantages of such lending for the MFI do not end there. If a client defaults on a loan, the MFI can easily confiscate the inventory of the client, which is usually put up as collateral for the loan, and sell it rapidly to another person in the same market. The Japanese invented just-in-time inventory management—a principle replicated around the world ever since. Tying up large amounts of capital in inventory was unproductive—far better to have the minimum possible inventory. Microfinance promotes the precise opposite of prudent inventory management. Micro-entrepreneurs by the million obtain loans to buy inventory that sits on shelves in competitive markets gathering dust before sale but accumulating an interest expense in the meantime. Genius. If it appears that the situation could get no worse, there is still one missing ingredient, one that the microfinance sector also conveniently ignores.


pages: 540 words: 103,101

Building Microservices by Sam Newman

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airport security, Amazon Web Services, anti-pattern, business process, call centre, continuous integration, create, read, update, delete, defense in depth, don't repeat yourself, Edward Snowden, fault tolerance, index card, information retrieval, Infrastructure as a Service, inventory management, job automation, load shedding, loose coupling, platform as a service, premature optimization, pull request, recommendation engine, social graph, software as a service, source of truth, the built environment, web application, WebSocket, x509 certificate

When modeled as services, these capabilities become the key operations that will be exposed over the wire to other collaborators. Turtles All the Way Down At the start, you will probably identify a number of coarse-grained bounded contexts. But these bounded contexts can in turn contain further bounded contexts. For example, you could decompose the warehouse into capabilities associated with order fulfillment, inventory management, or goods receiving. When considering the boundaries of your microservices, first think in terms of the larger, coarser-grained contexts, and then subdivide along these nested contexts when you’re looking for the benefits of splitting out these seams. I have seen these nested contexts remaining hidden to other, collaborating microservices to great effect. To the outside world, they are still making use of business capabilities in the warehouse, but they are unaware that their requests are actually being mapped transparently to two or more separate services, as you can see in Figure 3-2.

Microservices representing nested bounded contexts hidden inside the warehouse Figure 3-3. The bounded contexts inside the warehouse being popped up into their own top-level contexts In general, there isn’t a hard-and-fast rule as to what approach makes the most sense. However, whether you choose the nested approach over the full separation approach should be based on your organizational structure. If order fulfillment, inventory management, and goods receiving are managed by different teams, they probably deserve their status as top-level microservices. If, on the other hand, all of them are managed by one team, then the nested model makes more sense. This is because of the interplay of organizational structures and software architecture, which we will discuss toward the end of the book in Chapter 10. Another reason to prefer the nested approach could be to chunk up your architecture to simplify testing.

Industry 4.0: The Industrial Internet of Things by Alasdair Gilchrist

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3D printing, additive manufacturing, Amazon Web Services, augmented reality, autonomous vehicles, barriers to entry, business intelligence, business process, chief data officer, cloud computing, connected car, cyber-physical system, deindustrialization, fault tolerance, global value chain, Google Glasses, hiring and firing, industrial robot, inflight wifi, Infrastructure as a Service, Internet of things, inventory management, job automation, low skilled workers, millennium bug, pattern recognition, peer-to-peer, platform as a service, pre–internet, race to the bottom, RFID, Skype, smart cities, smart grid, smart meter, smart transportation, software as a service, stealth mode startup, supply-chain management, trade route, web application, WebRTC, WebSocket, Y2K

Leading fashionable retailers that target young fashion-conscious consumers are already investing billions in the IoT—think about mobile phone shops and high street fashion stores. Their adoption of high-tech advertising and providing in-store virtual customer experience provided by the adoption of the IoT has realized the financial returns beyond expectations. The operational and financial benefit that retailers have reaped range from efficient inventory management to real-time customer targeted promotions, and instore entertainment that increase footfall, develops the brand and ultimately increase sales. These pioneers of IoT have identified early that it was necessary to evolve and transform their business practices to conform with the shift in their customers’ lifestyles. They also identified that, in time, the IoT will touch nearly every area of retail operations and customer engagement.

More often than not, the IIoT is portrayed as deploying high technology, such as augmented reality, RFID customer tracking with personalized advertising, and similar marketing concepts that would not fit easily with most retailers’ current or even future customers. 29 30 Chapter 2 | Industrial Internet Use-Cases The advantages of IoT are not delivered just through enhanced customer experience—many of the benefits come in the back store, in stock control, inventory management, perishable and cold chain management, and for larger operations, digital signage, fleet management, and smart fulfillment centers. As an example, three of the largest supermarkets in the UK reported savings of 50% after the adoption of the IIoT. For some retailers deploying IIoT solutions, it has meant installing a vast range of bewildering technologies, including hardware, sensors, devices, apps, telematics, data, and connectivity to the cloud.


The Art of Scalability: Scalable Web Architecture, Processes, and Organizations for the Modern Enterprise by Martin L. Abbott, Michael T. Fisher

always be closing, anti-pattern, barriers to entry, Bernie Madoff, business climate, business continuity plan, business intelligence, business process, call centre, cloud computing, combinatorial explosion, commoditize, Computer Numeric Control, conceptual framework, database schema, discounted cash flows, en.wikipedia.org, fault tolerance, finite state, friendly fire, hiring and firing, Infrastructure as a Service, inventory management, new economy, packet switching, performance metric, platform as a service, Ponzi scheme, RFC: Request For Comment, risk tolerance, Rubik’s Cube, Search for Extraterrestrial Intelligence, SETI@home, shareholder value, Silicon Valley, six sigma, software as a service, the scientific method, transaction costs, Vilfredo Pareto, web application, Y2K

But as your company grows, the lines of code, number of servers, and overall complexity of your system will grow. To handle this growth in complexity, you will need to focus your engineering staff. Failing to specialize and focus your staff will result in too many engineers having too little information on the entire system to be effective. If you run a commerce site, you might have code, objects, methods, modules, servers, and databases focused on checkout, finding, comparing, browsing, shipping, inventory management, and so on. By dedicating teams to these areas, each team will become an expert on a codebase that is itself complex, challenging, and growing. The resulting specialization will allow for faster new feature development and a faster time to resolve known or current incidents and problems. All of this increase in speed to delivery may result in a faster time to market for bug fixes, incident resolution, and new feature development.

The AllScale architects ultimately decide that the system is going to be constrained in three dimensions: transaction growth, functionality growth, and the third dimension consisting of both catalog growth and customer growth. As such, they are going to need to rely on all three axes of the AKF Application Scale Cube. The architects decide that it makes most sense to split the application primarily by the functions of the site. Most of the major functions that don’t directly rely on customer information will get a swim lane of functionality (see Chapter 21). Browsing, searching, catalog upload, inventory management, and so on and every other verb that can be performed without needing to know specific information about a particular customer becomes a branch of functionality within the site and its own code base. These splits allow these services to grow with transaction volume regardless of customer growth as the number of customers isn’t important when delivering the results of a search, or a catalog upload, and so on.

Ecommerce Implementation The AllScale data architects ultimately decide that the data architecture is going to be impacted along three dimensions: transaction growth upon the databases, decisions made in Chapter 23 to scale the application, and growth in customers and products. As such, they are going to need to rely on all three axes of our AKF Application Scale Cube. In Chapter 23, the team decided to split functionality of the site to allow for growth and complexity in the application. You may recall that browsing, searching, catalog upload, inventory management, and so on, and every other verb that can be performed without needing to know specific information about a particular customer, became a branch of functionality within the site and its own code base. Applying the principles of Chapter 21, the team decides to make these swim lanes; each swim lane needs to have data relevant to the needs of the application. The team recognizes that in so doing it is changing the normal form of its data architecture and there will be elements of data replicated throughout the architecture.

From Airline Reservations to Sonic the Hedgehog: A History of the Software Industry by Martin Campbell-Kelly

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Apple II, Apple's 1984 Super Bowl advert, barriers to entry, Bill Gates: Altair 8800, business process, card file, computer age, computer vision, continuous integration, deskilling, Donald Knuth, Grace Hopper, information asymmetry, inventory management, John Markoff, John von Neumann, linear programming, Menlo Park, Network effects, popular electronics, RAND corporation, Robert X Cringely, Ronald Reagan, Silicon Valley, software patent, Steve Jobs, Steve Wozniak, Steven Levy, Thomas Kuhn: the structure of scientific revolutions

The new IBM computer was relatively inexpensive, sold in large numbers, and thus created a much broader market for lower-cost software than could ever have been satisfied by software contractors. A software product was a program that could be used without modification by a large number of corporate users. Software products typically automated common business functions, such as payroll or inventory management, or ran an entire medium-size business, such as a manufacturing operation or a savings bank. They were typically priced between $5,000 and $100,000. The more successful ones sold in the hundreds, and a few in the thousands. The arrival of the personal computer in the mid 1970s created an opportunity for mass-market software. The most characteristic form of distribution was a shrink-wrapped box of software sold in a retail store or by mail order.

Type of package Accounting General ledger Accounts receivable/payable Integrated accounting Billing, budgeting, costing Responsibility accounting, asset accounting, and CPA packages Other Packages Median quoted price 46 96 28 24 32 $5,000 $6,000 $8,400 $7,000 $5,000 27 $5,000 Financial Financial analysis Stock transfers and shareholder accounting Credit union and profit-sharing systems 44 10 18 $2,800 $16,000 $6,000 Inventory management, distribution, and warehousing 50 $7,000 Leisure time/ecology 14 $300 Mailing activities 42 $2,000 Marketing 26 $10,000 Mathematics and statistics 36 $3,000 Operations research and management science Mathematical programming Simulation, models, and games Other 34 37 5 $12,500 $9,200 $10,000 Payroll 93 $5,600 Project management and control 50 $6,600 Personnel and pension 26 $10,000 Purchasing and order processing 22 $12,400 Other 17 $9,000 Total number of packages 777 Source: ICP Quarterly, July 1974, as analyzed on p. 64 of International Resource Development Inc., Computer Services and Software Markets.


pages: 537 words: 144,318

The Invisible Hands: Top Hedge Fund Traders on Bubbles, Crashes, and Real Money by Steven Drobny

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Albert Einstein, Asian financial crisis, asset allocation, asset-backed security, backtesting, banking crisis, Bernie Madoff, Black Swan, Bretton Woods, BRICs, British Empire, business process, capital asset pricing model, capital controls, central bank independence, collateralized debt obligation, commoditize, Commodity Super-Cycle, commodity trading advisor, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency peg, debt deflation, diversification, diversified portfolio, equity premium, family office, fiat currency, fixed income, follow your passion, full employment, George Santayana, Hyman Minsky, implied volatility, index fund, inflation targeting, interest rate swap, inventory management, invisible hand, London Interbank Offered Rate, Long Term Capital Management, market bubble, market fundamentalism, market microstructure, moral hazard, Myron Scholes, North Sea oil, open economy, peak oil, pension reform, Ponzi scheme, prediction markets, price discovery process, price stability, private sector deleveraging, profit motive, purchasing power parity, quantitative easing, random walk, reserve currency, risk tolerance, risk-adjusted returns, risk/return, savings glut, selection bias, Sharpe ratio, short selling, sovereign wealth fund, special drawing rights, statistical arbitrage, stochastic volatility, survivorship bias, The Great Moderation, Thomas Bayes, time value of money, too big to fail, transaction costs, unbiased observer, value at risk, Vanguard fund, yield curve, zero-sum game

Can you give me an example of a big macro theme that came from a specific micro conversation? We are playing the current economic bounce, which has come off the back of the broader inventory restocking theme. Our understanding of this theme crystallized during a dinner conversation in the beginning of 2009 with the CEO of one of the largest metals companies in the world. For some time, we have held a very high-level macro view that the move to just-in-time inventory management would at some point be destabilizing for the commodity markets. There is an exceptional book on this called The End of the Line by Barry Lynn, a manufacturing specialist. Its simple premise is that the move to just-in-time inventory and global outsourcing forced all of the volatility of output and debt associated with production onto a much less well-capitalized supply chain. Although our global system of production is the most efficient in history, it is perfectly calibrated to a world where nothing goes wrong.

There is resource nationalism, where in certain markets oligopolistic price structures are going to emerge. Because of the collapse in capital expenditure, the small producer has essentially been taken out of the equation, creating greater concentration with greater pricing pressure. You have China acquiring global reserves and the impact that will have on commodities. You have this whole just-in-time inventory management/supply chain dislocation that is taking place. You have the public risk that is now taking all of the private risk. You have commodity inflation at a lower threshold. And you have the inversion of the demographic pyramid, meaning dependency ratios are going to rise (see box). Dependency Ratio Also referred to as the total dependency ratio, the dependency ratio is a measure showing the number of dependents (aged 0-14 and over the age of 65) to the total population (aged 15-64), which is calculated by Number of dependents ÷ Population (ages 15-64) x 100%.


pages: 145 words: 43,599

Hawai'I Becalmed: Economic Lessons of the 1990s by Christopher Grandy

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Bretton Woods, business climate, dark matter, endogenous growth, inventory management, Long Term Capital Management, market bubble, Maui Hawaii, minimum wage unemployment, open economy, purchasing power parity, Silicon Valley, Telecommunications Act of 1996

Japan appeared destined to rule the world economically. One could hardly find a popular business The Bubble 13 or economic journal that did not wring its hands over the competitive threat posed by Japan and the apparent failure of U.S. business to respond. Pundits in the United States side lauded everything Japanese, from lifetime employment and tightly-knit interlocking directorships to just-in-time inventory management and total quality management circles.5 Paradoxically, some of these practices would later be cited as the sources of Japanese uncompetitiveness in the 1990s; others were quietly and effectively adopted. For example, lifetime employment and interlocking directorates have both been criticized as sources of problems for Japan’s economy.6 The former is seen as an expense that can no longer be supported, the latter as one reason the financial infrastructure failed to identify troubled firms and to act decisively to remedy the problems.


pages: 261 words: 10,785

The Lights in the Tunnel by Martin Ford

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Albert Einstein, Bill Joy: nanobots, Black-Scholes formula, call centre, cloud computing, collateralized debt obligation, commoditize, creative destruction, credit crunch, double helix, en.wikipedia.org, factory automation, full employment, income inequality, index card, industrial robot, inventory management, invisible hand, Isaac Newton, job automation, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, knowledge worker, low skilled workers, mass immigration, moral hazard, pattern recognition, prediction markets, Productivity paradox, Ray Kurzweil, Search for Extraterrestrial Intelligence, Silicon Valley, Stephen Hawking, strong AI, superintelligent machines, technological singularity, Thomas L Friedman, Turing test, Vernor Vinge, War on Poverty

Some people might feel that I am being overly simplistic in equating “technological progress” with “machines getting better.” After all, technology is not just physical machines; it is also techniques, processes and distributed knowledge. The reality, however, is that the historical distinction between machines and intellectual capital is blurring. It is now very difficult to separate innovative processes from the advancing information technology that nearly always enables and underlies them. Improved inventory management systems and database marketing are examples of innovative techniques, but they rely heavily on computers. In fact, we can conceivably think of nearly any process or technique as “software”—and, therefore, part of a machine. If you still have trouble accepting this scenario, you might try asking yourself a couple of questions: (1) Is it Copyrighted Material – Paperback/Kindle available @ Amazon THE LIGHTS IN THE TUNNEL / 138 possible for a machine to keep getting better forever without eventually becoming autonomous?


pages: 292 words: 62,575

97 Things Every Programmer Should Know by Kevlin Henney

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A Pattern Language, active measures, business intelligence, commoditize, continuous integration, crowdsourcing, database schema, deliberate practice, domain-specific language, don't repeat yourself, Donald Knuth, fixed income, general-purpose programming language, Grace Hopper, index card, inventory management, job satisfaction, loose coupling, Silicon Valley, sorting algorithm, The Wisdom of Crowds

Those asking the question rarely bother to include stack traces, error logs, or any context leading to the problem. They seem to think you operate on a different plane, that solutions appear to you without analysis based on evidence. They think you are a guru. We expect such questions from those unfamiliar with software; to them, systems can seem almost magical. What worries me is seeing this in the software community. Similar questions arise in program design, such as "I'm building inventory management. Should I use optimistic locking?" Ironically, people asking the question are often better equipped to answer it than the question's recipient. The questioners presumably know the context, know the requirements, and can read about the advantages and disadvantages of different strategies. Yet they expect you to give an intelligent answer without context. They expect magic. It's time for the software industry to dispel this guru myth.


pages: 222 words: 54,506

One Click: Jeff Bezos and the Rise of Amazon.com by Richard L. Brandt

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Amazon Web Services, automated trading system, big-box store, call centre, cloud computing, Dynabook, Elon Musk, inventory management, Jeff Bezos, Kevin Kelly, Marc Andreessen, new economy, science of happiness, search inside the book, Silicon Valley, Silicon Valley startup, skunkworks, software patent, Steve Jobs, Stewart Brand, Tony Hsieh, Whole Earth Catalog, Y2K

About two years after the launch of Web services, Amazon boasted sixty-five thousand developers using the program and sending some ten million queries a day to Amazon’s servers.That’s a lot of new customers. Further, the offering began to look a lot like the phenomenon now known as cloud computing—tapping into a program sitting on a Web server somewhere rather than one sitting on your own desktop. Another company using the service, for example, Monsoon of Portland, Oregon, offered software that companies could use to tap into Amazon’s software to simplify their own inventory management. “Web 1.0 was making the Internet for people; Web 2.0 is making the Internet better for computers,” Bezos predicted in a speech at the Web 2.0 conference in San Francisco in 2004. Amazon became known as one of the most innovative companies in cloud computing. From its initial start in 2002, Amazon Web Services offerings just kept expanding. It can distribute content for other companies (such as Netflix) from its own computers and networks.


pages: 183 words: 49,460

Start Small, Stay Small: A Developer's Guide to Launching a Startup by Rob Walling

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8-hour work day, en.wikipedia.org, inventory management, Lean Startup, Marc Andreessen, Network effects, Paul Graham, rolodex, side project, Silicon Valley, software as a service, SpamAssassin, Superbowl ad, web application

It takes a while to rank high in Google for a large quantity of terms – some say 12-18 months (this is known as the Google Sandbox and its existence is an ongoing debate). Even if there is no Google Sandbox, it will take a few months to begin ranking for enough terms to bring in a noticeable stream of traffic. With that said, let’s turn our eyes to a specific example. The Power of Google Let’s take the example of a theoretical application: an inventory management system. It’s a good example because it could conceivably sell for $200 at a conversion rate of 0.5%, so it fits with the assumptions we’ve made thus far. At this point, we’re looking for 500 visitors per month from organic traffic. Let’s look at how we might determine if this is possible. Imagine if you could peer into Google’s database and see that every month, 5,000 people search for the term “inventory software.”


pages: 204 words: 58,565

Keeping Up With the Quants: Your Guide to Understanding and Using Analytics by Thomas H. Davenport, Jinho Kim

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Black-Scholes formula, business intelligence, business process, call centre, computer age, correlation coefficient, correlation does not imply causation, Credit Default Swap, en.wikipedia.org, feminist movement, Florence Nightingale: pie chart, forensic accounting, global supply chain, Hans Rosling, hypertext link, invention of the telescope, inventory management, Jeff Bezos, margin call, Moneyball by Michael Lewis explains big data, Myron Scholes, Netflix Prize, p-value, performance metric, publish or perish, quantitative hedge fund, random walk, Renaissance Technologies, Robert Shiller, Robert Shiller, self-driving car, sentiment analysis, six sigma, Skype, statistical model, supply-chain management, text mining, the scientific method

Price markdowns of 10 percent made in the week before a holiday are less effective than those made at other periods. An end-cap display is the most effective placement of our product in a retail store for lifting weekly sales. Our customers can be grouped into four distinct segments with regard to the products they buy. Our ability to raise prices on a class of consumer staple products without hurting demand is significantly lower during economic recessions. Our business units that have centralized inventory management facilities tend to maintain lower average days of inventory for their production processes. * * * There are thirty-seven numbers in a French/European roulette wheel: 1–36 and 0. When a wheel is spun once, the theoretical probability that each number will come out is equal to 1/37. Therefore the proportion of each resultant number in a large number of spins should be roughly 1/37.


pages: 238 words: 73,824

Makers by Chris Anderson

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3D printing, Airbnb, Any sufficiently advanced technology is indistinguishable from magic, Apple II, autonomous vehicles, barriers to entry, Buckminster Fuller, Build a better mousetrap, business process, commoditize, Computer Numeric Control, crowdsourcing, dark matter, David Ricardo: comparative advantage, death of newspapers, dematerialisation, Elon Musk, factory automation, Firefox, future of work, global supply chain, global village, industrial robot, interchangeable parts, Internet of things, inventory management, James Hargreaves, James Watt: steam engine, Jeff Bezos, job automation, Joseph Schumpeter, Kickstarter, Lean Startup, manufacturing employment, Mark Zuckerberg, means of production, Menlo Park, Network effects, profit maximization, QR code, race to the bottom, Richard Feynman, Richard Feynman, Ronald Coase, Rubik’s Cube, self-driving car, side project, Silicon Valley, Silicon Valley startup, Skype, slashdot, South of Market, San Francisco, spinning jenny, Startup school, stem cell, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, supply-chain management, The Nature of the Firm, The Wealth of Nations by Adam Smith, transaction costs, trickle-down economics, Whole Earth Catalog, X Prize, Y Combinator

Somebody has to do the manufacturing, handle the inventory, get the liability insurance, and run the customer support, and that takes money, a legal structure, and real day-to-day responsibilities. Thus, a company. So, in the new manufacturing model, you need a new kind of manufacturing company, too. At its core, it has to incorporate all the skills and learning of traditional manufacturing companies—tight quality control, efficient inventory management, and supply-chain management—so that it can compete with them on basic price and quality. But it also needs to incorporate many of the skills of Web companies in creating and harnessing a community around its products that allow it to design new goods faster, better, cheaper. In short, it must be like the best hardware companies and the best software companies. Atoms and bits. Maryam Alavi, vice-dean of Emery University’s Goizueta Business School, argues that the only way firms can continue to have lower transaction costs than the open market is if they become more complex internally in order to respond to the increasingly complex external market.


pages: 255 words: 68,829

How PowerPoint Makes You Stupid by Franck Frommer

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Albert Einstein, business continuity plan, cuban missile crisis, dematerialisation, hypertext link, invention of writing, inventory management, invisible hand, Just-in-time delivery, knowledge worker, Marshall McLuhan, means of production, new economy, oil shock, Ronald Reagan, Silicon Valley, Steve Jobs, Steve Wozniak, union organizing

The microcomputer market was really launched in July 1974 by Sun’s 8080 microprocessor, which made it possible to design the Altair, the first micro in the history of computers that was accessible to everyone. What was unknown at the time was that this invention would strike a severe blow against the “large systems” computing that had been established in companies since the 1960s: The first service businesses to become computerized were banks and insurance companies; in other sectors, the first uses were in accounting, payroll, and inventory management. This changed the physical conditions of work: in the 1960s, employees spent part of their time perforating cards and going over lists; then, in the 1970s and 1980s, terminals were installed, replaced by networked micro-computers in the 1990s. At each stage, the ergonomics were modified as well as the possibilities offered to the user.15 The advent of microcomputing in business had a considerable influence on the organization of work, particularly on the omnipotence of information systems.


pages: 238 words: 68,914

Where Does It Hurt?: An Entrepreneur's Guide to Fixing Health Care by Jonathan Bush, Stephen Baker

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Affordable Care Act / Obamacare, Atul Gawande, barriers to entry, Clayton Christensen, commoditize, informal economy, inventory management, job automation, knowledge economy, lifelogging, obamacare, personalized medicine, ride hailing / ride sharing, Ronald Reagan, Silicon Valley, Steve Jobs, web application, women in the workforce, working poor

But they also do a lot of standard and predictable work. What pressure do they face to carry out those jobs more efficiently and to cut costs? I think this disruption has to come from outside—and a good dose of it from fellow MDP members. But this doesn’t mean the entrepreneurs should start with hospitals. Sure, a lot of them might look at the inefficiencies in hospitals and see opportunities. No doubt there are jobs, maybe pharmacy or inventory management, that they could handle much better. All that’s needed, they might think, is a thirty-minute session to demo the technology for a hospital administrator or two. And then, just imagine the upside. If entrepreneurs can sell their apps to Partners, or to Mayo, they’ll have a breakthrough contract, legitimacy, a brand. They’ll be in the big time. Clay told them not to bother, and I agree.


pages: 257 words: 71,686

Swimming With Sharks: My Journey into the World of the Bankers by Joris Luyendijk

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activist fund / activist shareholder / activist investor, bank run, barriers to entry, Bonfire of the Vanities, bonus culture, collapse of Lehman Brothers, collective bargaining, corporate raider, credit crunch, Credit Default Swap, Emanuel Derman, financial deregulation, financial independence, Flash crash, glass ceiling, Gordon Gekko, high net worth, hiring and firing, information asymmetry, inventory management, job-hopping, light touch regulation, London Whale, Nick Leeson, offshore financial centre, regulatory arbitrage, Satyajit Das, selection bias, shareholder value, sovereign wealth fund, the payments system, too big to fail

In his book The Origin of Financial Crises, British fund manager George Cooper likens it to a simple domino effect: the collapse of one major bank could cause the global financial system to come to a halt, seize up and implode. Not only would this mean that we can no longer withdraw our money from banks but also that trade finance stops. As Cooper puts it, ‘This financial crisis came perilously close to causing a systemic failure of the global financial system. Had this occurred, global trade would have ceased to function within a very short period of time. Remember that this is the age of just-in-time inventory management,’ Cooper adds, meaning supermarkets have very small stocks. With impeccable understatement, Cooper concludes: ‘It is sobering to contemplate the consequences of interrupting food supplies to the world’s major cities for even a few days.’ These were the dominos that had come so close to falling down in 2008, and I had just witnessed first-hand what could be the next tile in that line. The summer of 2011 saw massive riots across London.


pages: 291 words: 77,596

Total Recall: How the E-Memory Revolution Will Change Everything by C. Gordon Bell, Jim Gemmell

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airport security, Albert Einstein, book scanning, cloud computing, conceptual framework, Douglas Engelbart, full text search, information retrieval, invention of writing, inventory management, Isaac Newton, John Markoff, lifelogging, Menlo Park, optical character recognition, pattern recognition, performance metric, RAND corporation, RFID, semantic web, Silicon Valley, Skype, social web, statistical model, Stephen Hawking, Steve Ballmer, Ted Nelson, telepresence, Turing test, Vannevar Bush, web application

See also biometric sensors improvised explosive devices (IEDs) In Search of Memory: The Emergence of a New Scientific Mind (Kandel) indexing inductive charging industrial revolution Infinite Memory Multifunction Machine (IM3) Information Age inheritance instant messaging and cloud computing and cyber twins and note taking and smartphones and total data collection institutional memory instruction manuals insurance insurgency Intel Intellectual Ventures interfaces International Technology Roadmap for Semiconductors Internet. See also World Wide Web and cloud computing and data backup services and gossip and higher learning and implementation of Total Recall and information availability and the Millennial Generation and social values and unified communications inventory management IOgear iPhone Iraq War iTunes J Jaimes, Alexandro Jim Gray Endowed Chair in Computer Systems Joe Bill Jones, William JPEG files. See also pictures and photographs K Kaiser Permanente Kandel, Eric keywords Kindle knowledge mining L La Femme Nikita (television) language, development of language acquisition laptops. See also notebook computers large-format scanners Laura (virtual health coach) law and legal issues.


pages: 287 words: 82,576

The Complacent Class: The Self-Defeating Quest for the American Dream by Tyler Cowen

affirmative action, Affordable Care Act / Obamacare, Airbnb, Alvin Roth, assortative mating, Bernie Sanders, Black Swan, business climate, circulation of elites, clean water, David Graeber, declining real wages, deindustrialization, desegregation, Donald Trump, drone strike, East Village, Elon Musk, Ferguson, Missouri, Francis Fukuyama: the end of history, gig economy, Google Glasses, Hyman Minsky, Hyperloop, income inequality, intangible asset, Internet of things, inventory management, knowledge worker, labor-force participation, labour mobility, low skilled workers, Marc Andreessen, Mark Zuckerberg, medical residency, meta analysis, meta-analysis, obamacare, offshore financial centre, Paul Samuelson, Peter Thiel, purchasing power parity, Richard Florida, security theater, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, South China Sea, Steven Pinker, Stuxnet, The Great Moderation, total factor productivity, Tyler Cowen: Great Stagnation, upwardly mobile, Vilfredo Pareto, working-age population, World Values Survey

As productivity researchers John Fernald and Bing Wang put it: “Three out of the last four decades have seen business-sector productivity growth near 1½%.”18 Overall, the history of this variable suggests the following story: America had a productivity heyday from the early twentieth century through about 1973. But then American innovativeness slowed sharply. The early years of applying IT brought a major rebound, but that dwindled as some of the low-hanging fruit from computer use, such as basic inventory management practices and email, was exhausted. Since the early 2000s, America has settled back into what is essentially a low-innovation mode of existence, with the exception of a few areas, such as social media. And as you can see from the earlier chapters, the slowdown story doesn’t rely on just a single productivity number; rather, it is consistent with a broad array of data about many social and economic variables, many of them easier to measure than business productivity.


pages: 326 words: 29,543

The Docks by Bill Sharpsteen

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affirmative action, anti-communist, big-box store, collective bargaining, Google Earth, intermodal, inventory management, jitney, Just-in-time delivery, new economy, Panamax, place-making, Port of Oakland, post-Panamax, RAND corporation, refrigerator car, strikebreaker, women in the workforce

Does anybody know if pinot noir will leave the shelves or not? How can he get people to experiment a little more and pick up a bottle of shiraz? Plus, the vineyards may have their own ideas, pushing one varietal over another because the vintage is a good one or they have surplus stock. More important, decisions about what wine to order and how much aren’t entirely a function of pre-orders or even an inventory management system that determines what to buy based on previous sales or demand, as if wine were soap or dish towels. It’s all about public taste and what the wine drinkers believe will make for a good glass. For Wilkinson, selling focuses on educating wine drinkers more than anything else. Although the United States imports about five times as much wine as it exports, making it the world’s third largest wine importer, it is nevertheless true that about two out of every three wine bottles sold in the United States come from California.


pages: 387 words: 110,820

Cheap: The High Cost of Discount Culture by Ellen Ruppel Shell

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barriers to entry, Berlin Wall, big-box store, cognitive dissonance, computer age, creative destruction, Daniel Kahneman / Amos Tversky, delayed gratification, deskilling, Donald Trump, Edward Glaeser, fear of failure, Ford paid five dollars a day, Frederick Winslow Taylor, George Akerlof, global supply chain, global village, greed is good, Howard Zinn, income inequality, interchangeable parts, inventory management, invisible hand, James Watt: steam engine, Joseph Schumpeter, Just-in-time delivery, knowledge economy, loss aversion, market design, means of production, mental accounting, Pearl River Delta, Ponzi scheme, price anchoring, price discrimination, race to the bottom, Richard Thaler, Ronald Reagan, side project, Steve Jobs, The Market for Lemons, The Wealth of Nations by Adam Smith, Thomas L Friedman, trade liberalization, traveling salesman, ultimatum game, Victor Gruen, washing machines reduced drudgery, working poor, yield management, zero-sum game

“Old Man,” high/low pricing Hitchcock, Alfred H & M home construction Home Depot Home Shopping Network Homo economicus economic model hotel industry Hounshell, David Household Registration Law (China) Hu Jindou Hull, Brent Humphrey-Hawkins Act Humpty Dumpty hyperbolic time discounting IKEA advertising by alliances with not-for-profits bookcase catalog designing to price de-skilling of labor flat packing forestry industry and number and location of stores suppliers to illusion of objectivity imports Chinese (See China) Japanese and Asian, in 1960s, markdowns of shrimp income declines in real income, early 2000s, post-World War II boom years income taxes, under Eisenhower and Kennedy India inelastic goods and services inflation of 1970s, CPI, in 2007-2008, Feds targeting of employment to fight during World War II, Ingka Holding innovation In Search of Excellence (Peters) instant rebates insula interchangeable parts International Herald Tribune inventory management iPhone iPod Ireland Irish potato famine “Is This the Worlds Cheapest Dress . . .” (Wilson) J. C. Penney Japanese imports John Wanamaker & Co. Jones, Lee Jonze, Spike Jordan, Julie Journal of Economic Behavior and Organization Journal of the Academy of Marketing Science just-in-time distribution K. B. Toy Outlet Kahneman, Daniel Kalish, Ira Kamprad, Ingvar Kanigel, Robert Kaufman’s Kennedy, John F.


pages: 312 words: 35,664

The Mathematics of Banking and Finance by Dennis W. Cox, Michael A. A. Cox

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barriers to entry, Brownian motion, call centre, correlation coefficient, fixed income, inventory management, iterative process, linear programming, meta analysis, meta-analysis, P = NP, pattern recognition, random walk, traveling salesman, value at risk

Then, using the above equation in our example, we know that the minimum corresponds to: 27 × 250 × 2 × 100 Q= = 77.46 18 × 12.5 As we can see, the actual mathematically calculated value is much the same as the approximate result that we had obtained by trial and error from the graph in Figure 21.3. It is important to always bear in mind the simplifying assumptions built into the model. r Demand is uniform over time. r The lead-time for new deliveries is zero. r Inventory is replenished when stock level is exactly zero. r The entire order is received in one delivery. r All costs are fixed over time. r There is always sufficient storage space for the deliveries. Clearly efficient inventory management will both save money and reduce the capital that is tied up by the business within inventory values. In practice, computer software is normally used to produce the graphs. However, the economic order quantity model is only a simple model and should always be used with care since in practice the assumptions are likely to be rather brave. If this model is adopted then the actual results that arise from actually following the model should be compared to those resulting from the theoretical use of the model in case this provides an indication that the model is not actually appropriate.


pages: 299 words: 91,839

What Would Google Do? by Jeff Jarvis

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23andMe, Amazon Mechanical Turk, Amazon Web Services, Anne Wojcicki, barriers to entry, Berlin Wall, business process, call centre, cashless society, citizen journalism, clean water, commoditize, connected car, credit crunch, crowdsourcing, death of newspapers, disintermediation, diversified portfolio, don't be evil, fear of failure, Firefox, future of journalism, Google Earth, Googley, Howard Rheingold, informal economy, inventory management, Jeff Bezos, jimmy wales, Kevin Kelly, Mark Zuckerberg, moral hazard, Network effects, new economy, Nicholas Carr, old-boy network, PageRank, peer-to-peer lending, post scarcity, prediction markets, pre–internet, Ronald Coase, search inside the book, Silicon Valley, Skype, social graph, social software, social web, spectrum auction, speech recognition, Steve Jobs, the medium is the message, The Nature of the Firm, the payments system, The Wisdom of Crowds, transaction costs, web of trust, Y Combinator, Zipcar

Peter Osnos, another publishing visionary on a mission to save the business, founded the Caravan Project to enable publishers to sell books in any form: in their traditional format, via print-on-demand, digitally in full or by chapter, and in audio. “When a reader asks for a book, the seller’s answer should always be, ‘how do you want it?’” he wrote at The Century Foundation. Osnos told me that the fundamental problems for publishing are availability and inventory management. If he can drive 20 percent of book selling to on-demand and digital, he believes he will save so much in printing unsold copies that he will be able to afford the marketing needed to make the business model work. He read a quote from The New York Times on the day that Google introduced its new Chrome browser arguing that Google needed to control its own destiny. That is the sense in which publishers should do what Google does, he said: control their own destiny.


pages: 353 words: 104,146

European Founders at Work by Pedro Gairifo Santos

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business intelligence, cloud computing, crowdsourcing, fear of failure, full text search, information retrieval, inventory management, iterative process, Jeff Bezos, Lean Startup, Mark Zuckerberg, natural language processing, pattern recognition, pre–internet, recommendation engine, Richard Stallman, Silicon Valley, Skype, slashdot, Steve Jobs, Steve Wozniak, subscription business, technology bubble, web application, Y Combinator

The interesting thing about what they were doing, they'd spent a lot of time and energy actually building software to automate the picking of the DVD on the back-end logistic side of things. Obviously, what was interesting and challenging about a business like this was it wasn't just the front end of a web site. You have to think about all of the back-end systems in terms of purchasing, inventory management, logistics, customer care, CRM, etc. I looked at all of this stuff. Originally my view on the market was, “Why don't we find a team to back?” This was my father and I, because we had been doing seed investing together for a couple of years through something called The Accelerator Group, TAG. We looked at DVDsOnTap. We looked at MovieTrak. We looked at the Australian software. And we came to the conclusion that no business had gone far enough, that actually starting with a blank piece of paper was the best way to go.


pages: 329 words: 85,471

The Locavore's Dilemma by Pierre Desrochers, Hiroko Shimizu

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air freight, back-to-the-land, British Empire, Columbian Exchange, Community Supported Agriculture, creative destruction, edge city, Edward Glaeser, food miles, Food sovereignty, global supply chain, intermodal, invention of agriculture, inventory management, invisible hand, Jane Jacobs, labour mobility, land tenure, megacity, moral hazard, mortgage debt, oil shale / tar sands, oil shock, peak oil, planetary scale, profit motive, refrigerator car, Steven Pinker, the market place, The Wealth of Nations by Adam Smith, Thomas Malthus, trade liberalization, Upton Sinclair, urban sprawl

In the end, why are modern agricultural producers willing to purchase costly synthetic inputs, hormonal growth promoters, antibiotics, and genetically modified seeds when the methods agri-intellectuals prefer are either completely free (such as giving up on the use of these inputs and on equipment such as poultry housing) or seemingly much cheaper (such as feeding cattle entirely on pastureland and saving one’s seeds instead of relying on those marketed by specialized producers)? On the retail side, perhaps supermarkets and large chain stores displaced farmers’ markets because of their more convenient hours, better parking conditions, greater mastery of logistics and inventory management, higher quality products, lower prices, and superior record in terms of food safety. On the latter topic, couldn’t it be the case that the risk that large processing plants will spread pathogens over long distances is mitigated by the fact that they have better technologies to detect, control, and track such problems in the first place? And let’s not forget that the long distance trade in food and agricultural inputs had the not inconsequential result of eradicating famine and malnutrition wherever it became significant.


pages: 346 words: 102,625

Early Retirement Extreme by Jacob Lund Fisker

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8-hour work day, active transport: walking or cycling, barriers to entry, clean water, Community Supported Agriculture, delayed gratification, discounted cash flows, diversification, don't be evil, dumpster diving, financial independence, game design, index fund, invention of the steam engine, inventory management, loose coupling, market bubble, McMansion, passive income, peak oil, place-making, Ponzi scheme, psychological pricing, the scientific method, time value of money, transaction costs, wage slave, working poor

If, instead, several people learn just one simple skill and are organized into an assembly line, the reduced time spent on learning allows them to produce much more. Given the limitations of human intelligence and lifespan, specialization is the only way to rapidly produce sophisticated products. In that sense, the complex skills of building a car have been transferred from the master craftsman up to the factory system, which has gotten very complex, with computer-controlled assembly lines and inventory management. Conversely, the system tries to divide labor into as narrow specializations as possible to cut costs. Using again the example of manufacturing a car, specialization can be narrowed to the point of replacing people with robots that weld a single piece of metal. The cost of specialization It's obviously more expensive, both in time and money, for Person A and Person B to gain the required amount of knowledge in both fields X and Y than it is if A were to concentrate on X while B concentrated on Y.


pages: 354 words: 26,550

High-Frequency Trading: A Practical Guide to Algorithmic Strategies and Trading Systems by Irene Aldridge

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algorithmic trading, asset allocation, asset-backed security, automated trading system, backtesting, Black Swan, Brownian motion, business process, capital asset pricing model, centralized clearinghouse, collapse of Lehman Brothers, collateralized debt obligation, collective bargaining, computerized trading, diversification, equity premium, fault tolerance, financial intermediation, fixed income, high net worth, implied volatility, index arbitrage, information asymmetry, interest rate swap, inventory management, law of one price, Long Term Capital Management, Louis Bachelier, margin call, market friction, market microstructure, martingale, Myron Scholes, New Journalism, p-value, paper trading, performance metric, profit motive, purchasing power parity, quantitative trading / quantitative finance, random walk, Renaissance Technologies, risk tolerance, risk-adjusted returns, risk/return, Sharpe ratio, short selling, Small Order Execution System, statistical arbitrage, statistical model, stochastic process, stochastic volatility, systematic trading, trade route, transaction costs, value at risk, yield curve, zero-sum game

In addition, Mende, Menkhoff, and Osler (2006) suggest that the dealers may strategically subsidize the trades that carry information, as first noted by Leach and Madhavan (1992, 1993) and Naik, Neuberkert, and Viswanathan (1999). For example, the dealers may provide lower spreads on large block orders in an effort to gather information and use it in their own proprietary trades. Mende, Menkhoff, and Osler (2006), however, emphasize that the majority of price variations in response to customer orders occurs through dealer inventory management. When the dealer transacts with an informed customer, the dealer immediately needs to diversify the risk of ending up on the adverse side of the transaction. For example, if a dealer receives a buy order from an informed customer, there is a high probability that the market price is about to rise; still, the dealer has just sold his inventory to the customer. To diversify his exposure, the dealer places a buy in the interdealer markets.


pages: 339 words: 88,732

The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies by Erik Brynjolfsson, Andrew McAfee

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2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, access to a mobile phone, additive manufacturing, Airbnb, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, American Society of Civil Engineers: Report Card, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, barriers to entry, basic income, Baxter: Rethink Robotics, British Empire, business intelligence, business process, call centre, Chuck Templeton: OpenTable, clean water, combinatorial explosion, computer age, computer vision, congestion charging, corporate governance, creative destruction, crowdsourcing, David Ricardo: comparative advantage, digital map, employer provided health coverage, en.wikipedia.org, Erik Brynjolfsson, factory automation, falling living standards, Filter Bubble, first square of the chessboard / second half of the chessboard, Frank Levy and Richard Murnane: The New Division of Labor, Freestyle chess, full employment, game design, global village, happiness index / gross national happiness, illegal immigration, immigration reform, income inequality, income per capita, indoor plumbing, industrial robot, informal economy, intangible asset, inventory management, James Watt: steam engine, Jeff Bezos, jimmy wales, job automation, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Kevin Kelly, Khan Academy, knowledge worker, Kodak vs Instagram, law of one price, low skilled workers, Lyft, Mahatma Gandhi, manufacturing employment, Marc Andreessen, Mark Zuckerberg, Mars Rover, mass immigration, means of production, Narrative Science, Nate Silver, natural language processing, Network effects, new economy, New Urbanism, Nicholas Carr, Occupy movement, oil shale / tar sands, oil shock, pattern recognition, Paul Samuelson, payday loans, price stability, Productivity paradox, profit maximization, Ralph Nader, Ray Kurzweil, recommendation engine, Report Card for America’s Infrastructure, Robert Gordon, Rodney Brooks, Ronald Reagan, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Simon Kuznets, six sigma, Skype, software patent, sovereign wealth fund, speech recognition, statistical model, Steve Jobs, Steven Pinker, Stuxnet, supply-chain management, TaskRabbit, technological singularity, telepresence, The Bell Curve by Richard Herrnstein and Charles Murray, The Signal and the Noise by Nate Silver, The Wealth of Nations by Adam Smith, total factor productivity, transaction costs, Tyler Cowen: Great Stagnation, Vernor Vinge, Watson beat the top human players on Jeopardy!, winner-take-all economy, Y2K

Every time a new product is made available, it increases consumer surplus. One way to think of the value created is to imagine that the new product always existed, but only at such a high price that no one could buy it. Making it available is like lowering the price to a more reasonable level. There have even been substantial increases in the number of stock keeping units (SKUs) in most physical stores as computerized inventory management systems, supply chains, and manufacturing have become more efficient and flexible. For the overall economy, the official GDP numbers miss the value of new goods and services added to the tune of about 0.4 percent of additional growth each year, according to economist Robert Gordon.* Remember that productivity growth has been in the neighborhood of 2 percent per year for most of the past century, so contribution of new goods is not a trivial portion.


pages: 385 words: 111,807

A Pelican Introduction Economics: A User's Guide by Ha-Joon Chang

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Affordable Care Act / Obamacare, Albert Einstein, Asian financial crisis, asset-backed security, bank run, banking crisis, banks create money, Berlin Wall, bilateral investment treaty, borderless world, Bretton Woods, British Empire, call centre, capital controls, central bank independence, collateralized debt obligation, colonial rule, Corn Laws, corporate governance, corporate raider, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, David Ricardo: comparative advantage, deindustrialization, discovery of the americas, Eugene Fama: efficient market hypothesis, eurozone crisis, experimental economics, Fall of the Berlin Wall, falling living standards, financial deregulation, financial innovation, Francis Fukuyama: the end of history, Frederick Winslow Taylor, full employment, George Akerlof, Gini coefficient, global value chain, Goldman Sachs: Vampire Squid, Gordon Gekko, greed is good, Gunnar Myrdal, Haber-Bosch Process, happiness index / gross national happiness, high net worth, income inequality, income per capita, information asymmetry, intangible asset, interchangeable parts, interest rate swap, inventory management, invisible hand, Isaac Newton, James Watt: steam engine, Johann Wolfgang von Goethe, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, joint-stock company, joint-stock limited liability company, Joseph Schumpeter, knowledge economy, laissez-faire capitalism, land reform, liberation theology, manufacturing employment, Mark Zuckerberg, market clearing, market fundamentalism, Martin Wolf, means of production, Mexican peso crisis / tequila crisis, Northern Rock, obamacare, offshore financial centre, oil shock, open borders, Pareto efficiency, Paul Samuelson, post-industrial society, precariat, principal–agent problem, profit maximization, profit motive, purchasing power parity, quantitative easing, road to serfdom, Robert Shiller, Robert Shiller, Ronald Coase, Ronald Reagan, savings glut, Scramble for Africa, shareholder value, Silicon Valley, Simon Kuznets, sovereign wealth fund, spinning jenny, structural adjustment programs, The Great Moderation, The Market for Lemons, The Spirit Level, The Wealth of Nations by Adam Smith, Thorstein Veblen, trade liberalization, transaction costs, transfer pricing, trickle-down economics, Vilfredo Pareto, Washington Consensus, working-age population, World Values Survey

Many of the organizational innovations in the manufacturing sector have been transferred to the other sectors, especially to the service sector, and raised their productivities. Fast food restaurants, such as McDonald’s, use ‘factory’ techniques, turning cooking into an assembly job. Some even deliver food on a conveyor belt, as in kaiten-zushi restaurants (for people living in Britain, that’s Yo! Sushi). Large retail chains – be they supermarkets, clothes shop chains or online retailers – apply modern inventory management techniques developed in the manufacturing sector. Even in the agricultural sector, productivity has been raised in some countries, such as the Netherlands (which is the third-largest exporter of agriculture in the world, after the US and France), through the application of manufacturing-style organizational knowledge, such as computer-controlled feeding. The rise of the post-industrial society?


pages: 305 words: 89,103

Scarcity: The True Cost of Not Having Enough by Sendhil Mullainathan

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American Society of Civil Engineers: Report Card, Andrei Shleifer, Cass Sunstein, clean water, computer vision, delayed gratification, double entry bookkeeping, Exxon Valdez, fault tolerance, happiness index / gross national happiness, impulse control, indoor plumbing, inventory management, knowledge worker, late fees, linear programming, mental accounting, microcredit, p-value, payday loans, purchasing power parity, randomized controlled trial, Report Card for America’s Infrastructure, Richard Thaler, Saturday Night Live, Walter Mischel, Yogi Berra

The solution seemed simple: financial literacy education. So Schoar procured a standard financial literacy training module, of the kind typically given to microentrepreneurs worldwide. Her reaction upon seeing the material: Wow, how tedious! (And she’s a finance professor at MIT.) The course was several weeks long and focused on traditional accounting techniques, teaching daily recordkeeping of cash and expenses, inventory management, accounts receivable and payable, and calculating profits and investment. In a world of unlimited bandwidth, all this would be worth knowing. But in the real world, Schoar believed that she could do better for her clients. She gathered together a group of the best local entrepreneurs to look at how they managed their finances. They, too, were not engaged in complex accounting, but they did what the less successful entrepreneurs did not do: they followed good rules of thumb.


pages: 353 words: 88,376

The Investopedia Guide to Wall Speak: The Terms You Need to Know to Talk Like Cramer, Think Like Soros, and Buy Like Buffett by Jack (edited By) Guinan

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Albert Einstein, asset allocation, asset-backed security, Brownian motion, business process, capital asset pricing model, clean water, collateralized debt obligation, computerized markets, correlation coefficient, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, discounted cash flows, diversification, diversified portfolio, dividend-yielding stocks, equity premium, fixed income, implied volatility, index fund, intangible asset, interest rate swap, inventory management, London Interbank Offered Rate, margin call, market fundamentalism, money market fund, mortgage debt, Myron Scholes, passive investing, performance metric, risk tolerance, risk-adjusted returns, risk/return, shareholder value, Sharpe ratio, short selling, statistical model, time value of money, transaction costs, yield curve, zero-coupon bond

Inventory represents one of the most important assets most businesses possess; inventory turnover is one of the primary sources of revenue generation and subsequent earnings for the company’s shareholders. Investopedia explains Inventory Possessing a high amount of inventory for long periods is not usually good for a business because it carries inventory storage, obsolescence, and spoilage costs. However, possessing too little inventory is not good either, because the business runs the risk of not filling customers’ orders and losing potential sales and thus market share as well. Inventory management techniques such as a just-in-time inventory system can help minimize inventory costs because goods are created or received as inventory only when needed. Related Terms: • Accounts Payable—AP • Cash Conversion Cycle—CCC • Inventory Turnover • Accounts Receivable—AR • First In, First Out—FIFO Inventory Turnover What Does Inventory Turnover Mean? A ratio showing how many times a company’s inventory is sold and replaced over a certain period.


pages: 355 words: 63

The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics by William R. Easterly

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Andrei Shleifer, business climate, Carmen Reinhart, central bank independence, clean water, colonial rule, correlation does not imply causation, creative destruction, endogenous growth, financial repression, Gini coefficient, Gunnar Myrdal, Hernando de Soto, income inequality, income per capita, inflation targeting, interchangeable parts, inventory management, invisible hand, Isaac Newton, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, large denomination, manufacturing employment, Network effects, New Urbanism, open economy, Productivity paradox, purchasing power parity, rent-seeking, Ronald Reagan, selection bias, Silicon Valley, Simon Kuznets, The Wealth of Nations by Adam Smith, Thomas Malthus, total factor productivity, trade liberalization, urban sprawl, Watson beat the top human players on Jeopardy!, Yogi Berra, Yom Kippur War

In 1981 there were all of 213 computers on the Internet. Now there are 60 r n i l l i ~ n . ~ And it’s not just high tech that has made such spectacular leaps. Wheat yields doubled between 1970 and 1994; corn and rice yields also soared, by 70 and 50 percent, respectively. Asian cereal yields have done even better, tripling over the past four decade^.^ Industry has become more efficient. New technologies like just-intime inventory management and numerically controlled machines have emerged. Health advances have been spectacular. To take one example, the treatment of mental illnesses like schizophrenia and depression has leaped with the discovery of new drugs like Risperdal and Prozac, bringing relief to millions of sufferers. The list could go on and on. Technological change is indeed a powerful force behind economic growth, which is all about creating new goods and new technologies.


pages: 315 words: 93,522

How Music Got Free: The End of an Industry, the Turn of the Century, and the Patient Zero of Piracy by Stephen Witt

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4chan, barriers to entry, Berlin Wall, big-box store, cloud computing, collaborative economy, crowdsourcing, game design, Internet Archive, invention of movable type, inventory management, iterative process, Jason Scott: textfiles.com, job automation, late fees, mental accounting, moral panic, packet switching, pattern recognition, peer-to-peer, pirate software, Ronald Reagan, security theater, sharing economy, side project, Silicon Valley, software patent, Steve Jobs, zero day

The discs were dumped in the slot, and the cylinder crushed them to shards. For years, Glover had stood and watched as thousands of perfectly good compact discs were destroyed in the gears of the machine. And, over time, he came to realize that he was staring into a black hole in the Universal security regime. The grinder was efficient, but it was far too simple. The machine had no memory and generated no records. It existed outside of the plant’s digital inventory management process. If you were instructed to destroy 24 overstock discs and only 23 actually made it into the feed slot, no one in accounting would ever know. So what Glover could do was take off his surgical glove while holding an overstock disc on his way from the conveyor belt to the grinder. Then, in one surreptitious motion, he could wrap the glove around the disc and tie it off. Then, pretending to prime the grinder, he could open up its control panel or its waste repository or its fuse box.


pages: 347 words: 97,721

Only Humans Need Apply: Winners and Losers in the Age of Smart Machines by Thomas H. Davenport, Julia Kirby

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AI winter, Andy Kessler, artificial general intelligence, asset allocation, Automated Insights, autonomous vehicles, basic income, Baxter: Rethink Robotics, business intelligence, business process, call centre, carbon-based life, Clayton Christensen, clockwork universe, commoditize, conceptual framework, dark matter, David Brooks, deliberate practice, deskilling, digital map, Douglas Engelbart, Edward Lloyd's coffeehouse, Elon Musk, Erik Brynjolfsson, estate planning, fixed income, follow your passion, Frank Levy and Richard Murnane: The New Division of Labor, Freestyle chess, game design, general-purpose programming language, Google Glasses, Hans Lippershey, haute cuisine, income inequality, index fund, industrial robot, information retrieval, intermodal, Internet of things, inventory management, Isaac Newton, job automation, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Khan Academy, knowledge worker, labor-force participation, lifelogging, loss aversion, Mark Zuckerberg, Narrative Science, natural language processing, Norbert Wiener, nuclear winter, pattern recognition, performance metric, Peter Thiel, precariat, quantitative trading / quantitative finance, Ray Kurzweil, Richard Feynman, Richard Feynman, risk tolerance, Robert Shiller, Robert Shiller, Rodney Brooks, Second Machine Age, self-driving car, Silicon Valley, six sigma, Skype, speech recognition, spinning jenny, statistical model, Stephen Hawking, Steve Jobs, Steve Wozniak, strong AI, superintelligent machines, supply-chain management, transaction costs, Tyler Cowen: Great Stagnation, Watson beat the top human players on Jeopardy!, Works Progress Administration, Zipcar

On top of their basic wage, they cost their employers a third again more in payroll taxes, paid time off, health insurance, 401(k) contributions, and other perks. Think that’s all? Ask any facilities manager. Humans need ergonomic workspaces, heat, and light. Plumbing. All this is expensive, but it gets uglier. Ask any corporate counsel if humans like to bring lawsuits. Ask any security officer if embezzlement happens. Ask any inventory managers if they know about shrinkage. Ask any human resource executive what percentage of employees are engaged in their work (the average is 13 percent in the U.S.). But the trouble with human workers is a bigger deal than even that. As we’ll discuss in Chapter 2, technologies get smarter and cheaper all the time, but humans as a group don’t. You can’t simply download preexisting knowledge to a human.


pages: 317 words: 100,561

When Gravity Fails by George Alec Effinger

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inventory management

You’d get Janis Joplin with static-like flashes of Laila, you’d get the Marquise Josephine Rose Kennedy with Laila’s nasal whine, but it was her shop and her merchandise, and if you didn’t want to put up with her, you went elsewhere. I went to Laila because even though I wasn’t wired, she let me “borrow” any moddy or daddy she had in stock, by plugging it into herself. If I needed to do a little research, I went to Laila and hoped that she didn’t distort what I had to learn in any lethal way. This afternoon she was being herself, with only a bookkeeping add-on and an inventory-management add-on plugged in. It was that time of the year again; how the months fly when you take a lot of drugs. “Laila,” I said. She was so much like the old hag in Snow White that you couldn’t think of more to say to her. Laila was one person with whom you didn’t make small talk, whatever you wanted from her. She looked up, her lips mumbling stock numbers, quantities, markups, and markdowns. She nodded.


pages: 291 words: 95,468

Sam Walton: Made in America by Sam Walton, John Huey

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inventory management, profit motive, union organizing

He really wasn't sure it worked at all. Fortunately, he hired Don Soderquist from Ben Franklin around that time, and Don came in as a big supporter of what we were trying to do. He believed in mechanized distribution all the way, and he eventually took over distribution from me in 1980. He went on to do a great job expanding it, helping introduce a lot of innovation, including a badly needed new inventory management system. "Fortunately, we turned Searcy around and made it work because it saved our neck after we took on all those Kuhn's stores. We had to figure out how to supply them, and our arrangement with a third-party distributor turned into a nightmare. So we built an addition at Searcy to service them, and it solved the problem. Searcy—which is one of our best-performing distribution centers today—really was the key to our whole distribution system.


pages: 391 words: 97,018

Better, Stronger, Faster: The Myth of American Decline . . . And the Rise of a New Economy by Daniel Gross

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2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, Affordable Care Act / Obamacare, Airbnb, American Society of Civil Engineers: Report Card, asset-backed security, Bakken shale, banking crisis, BRICs, British Empire, business process, business process outsourcing, call centre, Carmen Reinhart, clean water, collapse of Lehman Brothers, collateralized debt obligation, commoditize, creative destruction, credit crunch, currency manipulation / currency intervention, demand response, Donald Trump, Frederick Winslow Taylor, high net worth, housing crisis, hydraulic fracturing, If something cannot go on forever, it will stop - Herbert Stein's Law, illegal immigration, index fund, intangible asset, intermodal, inventory management, Kenneth Rogoff, labor-force participation, LNG terminal, low skilled workers, Mark Zuckerberg, Martin Wolf, Maui Hawaii, McMansion, money market fund, mortgage debt, Network effects, new economy, obamacare, oil shale / tar sands, oil shock, peak oil, Plutocrats, plutocrats, price stability, quantitative easing, race to the bottom, reserve currency, reshoring, Richard Florida, rising living standards, risk tolerance, risk/return, Silicon Valley, Silicon Valley startup, six sigma, Skype, sovereign wealth fund, Steve Jobs, superstar cities, the High Line, transit-oriented development, Wall-E, Yogi Berra, zero-sum game, Zipcar

As with Netflix, customers open accounts and then pay for the temporary use of goods sent to them through the mail. A Thakoon Black Bustle Bombshell dress, which retails for $1,190, rents for $150. A Thread Social Poppy Sweetheart dress, retail $365, rents for $50 (perfect for that spring tea). Accessorize with Crislu Crystal Tear earrings (retail $96, rent for $20). Like so many other online businesses, it has tapped into the highly developed and integrated logistics, customer service, shipping, inventory management, and payments systems that serve as a competitive advantage for all U.S. companies. In business for less than two years, Rent the Runway has raised $31 million in venture capital, has attracted 1 million customers, and is turning a profit. All these models involve more sharing than American consumers are typically accustomed to. But the culture is changing. Consider how quickly consumers’ attitude to housing has changed.


pages: 323 words: 90,868

The Wealth of Humans: Work, Power, and Status in the Twenty-First Century by Ryan Avent

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3D printing, Airbnb, American energy revolution, assortative mating, autonomous vehicles, Bakken shale, barriers to entry, basic income, Bernie Sanders, BRICs, call centre, Capital in the Twenty-First Century by Thomas Piketty, Clayton Christensen, cloud computing, collective bargaining, computer age, creative destruction, dark matter, David Ricardo: comparative advantage, deindustrialization, dematerialisation, Deng Xiaoping, deskilling, Dissolution of the Soviet Union, Donald Trump, Downton Abbey, Edward Glaeser, Erik Brynjolfsson, eurozone crisis, everywhere but in the productivity statistics, falling living standards, first square of the chessboard, first square of the chessboard / second half of the chessboard, Ford paid five dollars a day, Francis Fukuyama: the end of history, future of work, gig economy, global supply chain, global value chain, hydraulic fracturing, income inequality, indoor plumbing, industrial robot, intangible asset, interchangeable parts, Internet of things, inventory management, invisible hand, Jacquard loom, James Watt: steam engine, Jeff Bezos, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph-Marie Jacquard, knowledge economy, low skilled workers, lump of labour, Lyft, manufacturing employment, Marc Andreessen, mass immigration, means of production, new economy, performance metric, pets.com, price mechanism, quantitative easing, Ray Kurzweil, rent-seeking, reshoring, rising living standards, Robert Gordon, Ronald Coase, savings glut, Second Machine Age, secular stagnation, self-driving car, sharing economy, Silicon Valley, single-payer health, software is eating the world, supply-chain management, supply-chain management software, TaskRabbit, The Future of Employment, The Nature of the Firm, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, trade liberalization, transaction costs, Tyler Cowen: Great Stagnation, Uber and Lyft, Uber for X, very high income, working-age population

Automobile manufacturers produced a relatively small number of makes and models, with limited variation. They ordered the parts they needed to do the manufacturing in bulk and carried large inventories. And then they shipped the cars off to dealers to sit on lots for purchase. In the 1980s, this system began to change. Upstart manufacturers such as Toyota adopted lean production techniques, which emphasized close cooperation across all the firms on the supply chain and careful inventory management, as well as constant improvement to both the car designs and the production processes. As electronics shrank and grew more powerful, the operation of the car itself became far more sophisticated; information processing once done within the driver’s head was instead handled by on-board computers; variation and personalization took on increasing importance. Today, buyers can customize their vehicle online, and factories can produce completely different models with different features along the same production line (such as the one on the Volvo campus in Gothenburg, Sweden).

The End of Accounting and the Path Forward for Investors and Managers (Wiley Finance) by Feng Gu

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active measures, Affordable Care Act / Obamacare, barriers to entry, business process, Claude Shannon: information theory, Clayton Christensen, commoditize, conceptual framework, corporate governance, creative destruction, Daniel Kahneman / Amos Tversky, discounted cash flows, diversified portfolio, double entry bookkeeping, Exxon Valdez, financial innovation, fixed income, hydraulic fracturing, index fund, information asymmetry, intangible asset, inventory management, Joseph Schumpeter, Kenneth Arrow, knowledge economy, moral hazard, new economy, obamacare, quantitative easing, quantitative trading / quantitative finance, QWERTY keyboard, race to the bottom, risk/return, Robert Shiller, Robert Shiller, shareholder value, Steve Jobs, The Great Moderation, value at risk

For quite some time, leading economists like Blanchard and Simon (2001), noticed “a long and large decline in US output volatility over the last half century.” In particular, economists recorded a shift in the mid-1980s toward stabilization of economic activity: It has been estimated that, since 1984, the variance (a statistical measure of volatility) of GDP growth has declined by an astounding 50 percent. The search for a full understanding of this phenomenon goes on, but stabilizing factors like improved inventory management by companies, better control of firms’ operations brought about by information technology, smarter government interventions in crises, and the increased use by companies of stabilizing (risk hedging) financial innovations are among the volatility-reducing factors already identified. And what about the substantial business disruptions caused by the 2007−2008 crisis, you ask? Just a hiccup.


pages: 372 words: 89,876

The Connected Company by Dave Gray, Thomas Vander Wal

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A Pattern Language, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, Atul Gawande, Berlin Wall, business process, call centre, Clayton Christensen, commoditize, complexity theory, creative destruction, David Heinemeier Hansson, en.wikipedia.org, factory automation, Googley, index card, industrial cluster, interchangeable parts, inventory management, Jeff Bezos, John Markoff, Kevin Kelly, loose coupling, market design, minimum viable product, more computing power than Apollo, profit maximization, Richard Florida, Ruby on Rails, self-driving car, shareholder value, side project, Silicon Valley, skunkworks, software as a service, South of Market, San Francisco, Steve Jobs, Steven Levy, Stewart Brand, The Wealth of Nations by Adam Smith, Tony Hsieh, Toyota Production System, Vanguard fund, web application, WikiLeaks, Zipcar

This means that when it’s time to scale up a particular service, a pod that has, for example, seven people, can reproduce itself by dividing into two pods, each of which can bring on new members with minimal growing pains. What Kinds of Companies have been Successful with a Podular Approach? Xerox, Procter and Gamble, AT&T, and many other companies have credited self-directed teams with having a marked impact on their operations, including improvements in customer service, manufacturing, inventory management, and other productivity gains. Let’s look at three highly effective podular systems: one old-school company, one new-school company, and one old-school industry that’s reinventing itself. 3M is Podular Although they are known for innovation, 3M was incorporated in 1902, making it more than a hundred years old. Big pods: 3M has roughly 100 autonomous profit centers, each of which operates like a separate company.


pages: 345 words: 92,849

Equal Is Unfair: America's Misguided Fight Against Income Inequality by Don Watkins, Yaron Brook

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3D printing, Affordable Care Act / Obamacare, Apple II, barriers to entry, Berlin Wall, Bernie Madoff, blue-collar work, business process, Capital in the Twenty-First Century by Thomas Piketty, Cass Sunstein, collective bargaining, colonial exploitation, corporate governance, correlation does not imply causation, creative destruction, Credit Default Swap, crony capitalism, David Brooks, deskilling, Edward Glaeser, Elon Musk, en.wikipedia.org, financial deregulation, immigration reform, income inequality, indoor plumbing, inventory management, invisible hand, Isaac Newton, Jeff Bezos, Jony Ive, laissez-faire capitalism, Louis Pasteur, low skilled workers, means of production, minimum wage unemployment, Naomi Klein, new economy, obamacare, Peter Singer: altruism, Peter Thiel, profit motive, rent control, Ronald Reagan, Silicon Valley, Skype, statistical model, Steve Jobs, Steve Wozniak, The Spirit Level, too big to fail, trickle-down economics, Uber for X, urban renewal, War on Poverty, wealth creators, women in the workforce, working poor, zero-sum game

(And, as she also shows, many of those who didn’t escape poverty were held back by their own choices.)39 One of the worst things we can do for people who want to advance out of low-paying jobs, Newman points out, is to demean those jobs as mindless or degrading. As she writes in her book No Shame in My Game, even though many low-paying workers employ talents similar to those used by their white-collar counterparts—“memory skills, inventory management, the ability to work with a diverse crowd of employees, and versatility in covering for fellow workers when the demand increases” among many other skills—such workers are “limited by the popular impression that the jobs they hold now are devoid of value.” Newman is particularly disturbed by the fact that “when journalists want to call upon an image that connotes a deadening, routinized, almost ‘skill-free’ job, they routinely invoke the fast-food burger flipper as the iconic example.


pages: 375 words: 88,306

The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism by Arun Sundararajan

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3D printing, additive manufacturing, Airbnb, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, basic income, bitcoin, blockchain, Burning Man, call centre, collaborative consumption, collaborative economy, collective bargaining, commoditize, corporate social responsibility, cryptocurrency, David Graeber, distributed ledger, employer provided health coverage, Erik Brynjolfsson, ethereum blockchain, Frank Levy and Richard Murnane: The New Division of Labor, future of work, George Akerlof, gig economy, housing crisis, Howard Rheingold, information asymmetry, Internet of things, inventory management, invisible hand, job automation, job-hopping, Kickstarter, knowledge worker, Kula ring, Lyft, Marc Andreessen, megacity, minimum wage unemployment, moral hazard, moral panic, Network effects, new economy, Oculus Rift, pattern recognition, peer-to-peer, peer-to-peer lending, peer-to-peer model, peer-to-peer rental, profit motive, purchasing power parity, race to the bottom, recommendation engine, regulatory arbitrage, rent control, Richard Florida, ride hailing / ride sharing, Robert Gordon, Ronald Coase, Second Machine Age, self-driving car, sharing economy, Silicon Valley, smart contracts, Snapchat, social software, supply-chain management, TaskRabbit, The Nature of the Firm, total factor productivity, transaction costs, transportation-network company, two-sided market, Uber and Lyft, Uber for X, universal basic income, Zipcar

Walmart claimed that these former employees had leaked proprietary information about Walmart’s famed supply chain management systems. The suit was settled in 1999, but it underscored the fact that Amazon wasn’t merely investing in product variety or search and discovery innovations like user reviews and recommendations. They were making massive investments into inventing an entirely new infrastructure for inventory management, warehousing, and delivery, one that was optimized for a retail world in which goods had to be moved not in bulk to outlets or stores, but one-by-one to individual consumers. Amazon’s current dominance of online retailing in the United States owes much to these early investments, and to the capabilities it has built to move physical goods faster and cheaper than any of its competitors. (Thousands of other sellers now sell through the Amazon platform, leveraging its logistics expertise and giving Amazon a slice of their profits.)


pages: 319 words: 90,965

The End of College: Creating the Future of Learning and the University of Everywhere by Kevin Carey

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Albert Einstein, barriers to entry, Bayesian statistics, Berlin Wall, business intelligence, carbon-based life, Claude Shannon: information theory, complexity theory, David Heinemeier Hansson, declining real wages, deliberate practice, discrete time, double helix, Douglas Engelbart, Douglas Engelbart, Downton Abbey, Drosophila, Firefox, Frank Gehry, Google X / Alphabet X, informal economy, invention of the printing press, inventory management, John Markoff, Khan Academy, Kickstarter, low skilled workers, Lyft, Marc Andreessen, Mark Zuckerberg, meta analysis, meta-analysis, natural language processing, Network effects, open borders, pattern recognition, Peter Thiel, pez dispenser, ride hailing / ride sharing, Ronald Reagan, Ruby on Rails, Sand Hill Road, self-driving car, Silicon Valley, Silicon Valley startup, social web, South of Market, San Francisco, speech recognition, Steve Jobs, technoutopianism, transcontinental railway, Vannevar Bush

This did not happen because tens of thousands of school principals individually decided that it was impossible for someone to succeed in the classroom without first spending four years in a hybrid university. It happened because state laws mandate that you can’t teach in a public school without a bachelor’s degree, and union contracts say you can’t make the maximum possible salary without a master’s degree. Employers were also faced with another version of a familiar problem: how to sort through a lot of information with limited resources and limited time. Brassiere inventory management is a snap compared to figuring out human beings. As information technology destroyed jobs that involved simple and repetitive tasks, like painting car parts or shelving paper files, and globalization moved other low-skill jobs overseas, the American jobs that remained fell into several large categories. Some required creativity, judgment, and pattern recognition. Others involved interacting with other people by providing services of different kinds.


pages: 344 words: 96,020

Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success by Sean Ellis, Morgan Brown

Airbnb, Amazon Web Services, barriers to entry, bounce rate, business intelligence, business process, correlation does not imply causation, crowdsourcing, DevOps, Elon Musk, game design, Google Glasses, Internet of things, inventory management, iterative process, Jeff Bezos, Khan Academy, Lean Startup, Lyft, Mark Zuckerberg, market design, minimum viable product, Network effects, Paul Graham, Peter Thiel, Ponzi scheme, recommendation engine, ride hailing / ride sharing, side project, Silicon Valley, Silicon Valley startup, Skype, Snapchat, software as a service, Steve Jobs, subscription business, Uber and Lyft, Uber for X, working poor, Y Combinator, young professional

So in addition to the number of new people downloading the app, the company would want to track in the number of rides being booked, the number of riders who return and rebook, and the frequency with which they are booking new rides. GOOGLE ANALYTICS DASHBOARD The metrics that appear in Google’s default dashboards aren’t necessarily the most important for your growth. The equations above may seem overly simplistic. Clearly many more factors go into making a business work, such as R&D investment, cost of materials, shipping expenses, inventory management, and more. But the stark simplicity of the growth equation is the point. The sheer volume of data that is now available about customer behavior, even using the most basic analytics program, is daunting, with screen after screen of extraordinary detail. Google Analytics, for example, provides hundreds of charts and data points, which, while robust, can create confusion if it isn’t used in service of tracking the most important metrics specifically for your growth.


pages: 1,104 words: 302,176

The Rise and Fall of American Growth: The U.S. Standard of Living Since the Civil War (The Princeton Economic History of the Western World) by Robert J. Gordon

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3D printing, Affordable Care Act / Obamacare, airline deregulation, airport security, Apple II, barriers to entry, big-box store, blue-collar work, Capital in the Twenty-First Century by Thomas Piketty, clean water, collective bargaining, computer age, creative destruction, deindustrialization, Detroit bankruptcy, discovery of penicillin, Donner party, Downton Abbey, Edward Glaeser, en.wikipedia.org, Erik Brynjolfsson, everywhere but in the productivity statistics, feminist movement, financial innovation, full employment, George Akerlof, germ theory of disease, glass ceiling, high net worth, housing crisis, immigration reform, impulse control, income inequality, income per capita, indoor plumbing, industrial robot, inflight wifi, interchangeable parts, invention of agriculture, invention of air conditioning, invention of the telegraph, invention of the telephone, inventory management, James Watt: steam engine, Jeff Bezos, jitney, job automation, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, labor-force participation, Loma Prieta earthquake, Louis Daguerre, Louis Pasteur, low skilled workers, manufacturing employment, Mark Zuckerberg, market fragmentation, Mason jar, mass immigration, mass incarceration, McMansion, Menlo Park, minimum wage unemployment, mortgage debt, mortgage tax deduction, new economy, Norbert Wiener, obamacare, occupational segregation, oil shale / tar sands, oil shock, payday loans, Peter Thiel, pink-collar, Productivity paradox, Ralph Nader, Ralph Waldo Emerson, refrigerator car, rent control, Robert X Cringely, Ronald Coase, school choice, Second Machine Age, secular stagnation, Skype, stem cell, Steve Jobs, Steve Wozniak, Steven Pinker, The Market for Lemons, Thomas Malthus, total factor productivity, transaction costs, transcontinental railway, traveling salesman, Triangle Shirtwaist Factory, Unsafe at Any Speed, Upton Sinclair, upwardly mobile, urban decay, urban planning, urban sprawl, washing machines reduced drudgery, Washington Consensus, Watson beat the top human players on Jeopardy!, We wanted flying cars, instead we got 140 characters, working poor, working-age population, Works Progress Administration, yellow journalism, yield management

Throughout the world, the equipment used in office work and the productivity of office employees closely resembles that of a decade ago.22 And business productivity continues to enjoy the permanent increase in personal comfort on the job that was achieved between 1930 and 1970 by the introduction of air conditioning into every office setting. A part of the great transition that was achieved in the 1980s and 1990s was the catalog revolution. Even before the web became pervasive in the late 1990s, libraries had already converted from wooden boxes of paper card catalogs to electronic catalogs that doubled not only as search tools but as inventory managers, indicating for every search result whether the book or periodical was on the shelf. The parts departments at automobile dealers made a transition at the same time to electronic catalogs from enormous binders into which multiple replacement pages had to be inserted every day. Hardware stores, book stores, garden nurseries, and, indeed, any retail store selling a large number of varieties of products shifted to electronic catalogs over proprietary computer networks even before the web allowed direct consumer contact with each merchant’s catalog.

In the early years of credit cards in the 1970s and 1980s, checkout clerks had to make voice phone calls for authorization, then there was a transition to terminals that would dial the authorization phone number, and now the authorization arrives within a few seconds. The big-box retailers brought with them many other aspects of the productivity revolution. Walmart and others transformed supply chains, wholesale distribution, inventory management, pricing, and product selection, but that productivity-enhancing shift away from traditional small-scale retailing is largely over. The retail productivity revolution is high on the list of the many accomplishments of IR #3 that are largely completed and will be difficult to surpass in the next several decades. What is often forgotten is that we are well into the computer age, and many Home Depots and local supermarkets have self-checkout lines that allow customers to scan their groceries or paint cans through a standalone terminal.


pages: 525 words: 142,027

CIOs at Work by Ed Yourdon

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8-hour work day, Apple's 1984 Super Bowl advert, business intelligence, business process, call centre, cloud computing, crowdsourcing, distributed generation, Donald Knuth, Flash crash, Googley, Grace Hopper, Infrastructure as a Service, Innovator's Dilemma, inventory management, Julian Assange, knowledge worker, Mark Zuckerberg, Nicholas Carr, rolodex, shareholder value, Silicon Valley, six sigma, Skype, smart grid, smart meter, software as a service, Steve Ballmer, Steve Jobs, Steven Levy, the new new thing, the scientific method, WikiLeaks, Y2K, Zipcar

He’s a technologist, he’s written books, he’s on the board—well, I think he just got off the board of Microsoft, he’s on the board at GE, Walmart, he’s been on the board of Knight Ridder, he’s on the board of Chubb, he’s on the board of Tandy, which is originally Radio Shack. He’s done a number of very strong, highly qualified things. Early indicator of what outsourcing would be to India. Yourdon: Ahh. Ford: Early indicator of real-time and just-in-time inventory management and did consulting around those things. Early indicator of just a number of things—social networking. Early indicator of a lot of things that technology would evolve to. He’s just an incredibly bright, well organized, very well socialized person. Yourdon: Very interesting. Really, it’s the heart of your day-to-day life in a sense—and that is, how you see technology and IT contributing to the success of an organization like American?


pages: 603 words: 141,814

Python for Unix and Linux System Administration by Noah Gift, Jeremy M. Jones

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Amazon Web Services, bash_history, Bram Moolenaar, cloud computing, create, read, update, delete, database schema, Debian, distributed revision control, Firefox, Guido van Rossum, industrial robot, inventory management, job automation, Mark Shuttleworth, MVC pattern, skunkworks, web application

This example will show how to create a database model using Django’s object-relational mappers and how to write templates and views to display that data, but the data entry will rely on Django’s built-in admin interface. The purpose of taking this approach is to show you how quickly and easily you can put together a database with a usable frontend to enter and maintain the data. The application that we are going to walk through creating is an inventory management app for computer systems. Specifically, this application is geared to allow you to add computers to the database with a description of the computer, associate IP addresses with it, state what services are running on it, detail what hardware constitutes the server, and more. We’ll follow the same steps to create this Django project and application as in the previous Django example. Following are the commands to create the project and the application using the django-admin command-line tool: jmjones@dinkbuntu:~/code$ django-admin startproject sysmanage jmjones@dinkbuntu:~/code$ cd sysmanage jmjones@dinkbuntu:~/code/sysmanage$ django-admin startapp inventory jmjones@dinkbuntu:~/code/sysmanage$ This created the same sort of directory structure as our Django-based Apache log viewer.


pages: 534 words: 118,459

Database Design and Relational Theory by C.J. Date

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inventory management

Before closing this section, I remark that Codd himself is also on record, in the same paper where he said there was no formal basis for choosing the primary key, as a defender of the PK:AK distinction (not surprisingly, since he originated it): Severe problems would arise ... if any relvar whatsoever were permitted to have more than one primary key [sic] ... The consequences of permitting more than one primary key ... for a single base relvar [would be] disastrous. (I’ve taken the liberty of replacing the term relation by the term relvar twice in this extract.) And he goes on to give an example involving employees with “several distinct responsibilities”—project management, department management, inventory management, etc.—and then he says: Comparing for equality of identifiers ... is intended to establish that one and the same employee is involved ... This objective is dealt a severe blow if the types of identifiers used for employees can be different depending on which pair of employee-identifying [attributes] is selected for the comparison. Well, I think you can see this argument is essentially the same as the one given under points 2 and 3 above, which (a) as I’ve already indicated, is slightly confused, and (b) as we’ll see later in this appendix, doesn’t fully stand up under close scrutiny anyway


pages: 376 words: 121,254

Cocaine Nation: How the White Trade Took Over the World by Thomas Feiling

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anti-communist, barriers to entry, crack epidemic, deindustrialization, illegal immigration, informal economy, inventory management, land reform, Lao Tzu, mandatory minimum, moral panic, offshore financial centre, RAND corporation, Right to Buy, Ronald Reagan, trade route, upwardly mobile, yellow journalism

Even the local DEA office in Detroit admitted that ‘kids in the ghetto who couldn’t get jobs or couldn’t get to jobs because they didn’t have transportation out to the suburbs could rock up cocaine and sell it on any street corner’.26 On the one hand, the Chambers brothers were the lead characters in an archetypal American story of entrepreneurial success. They had identified a niche market, studied and overcome barriers to entry, bought wholesale, tracked inventory, managed cash flow, analysed risk and expanded aggressively until they cornered the market. Plenty of those involved in the upper echelons of the cocaine business, such as Lance in South Jamaica, Queens, craved the respect granted to their counterparts in the legal economy and regarded themselves as successful businessmen whose stock-in-trade happened to be illegal. ‘The structure of the business is like a Fortune 500.


pages: 363 words: 28,546

Portfolio Design: A Modern Approach to Asset Allocation by R. Marston

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asset allocation, Bretton Woods, capital asset pricing model, capital controls, carried interest, commodity trading advisor, correlation coefficient, diversification, diversified portfolio, equity premium, Eugene Fama: efficient market hypothesis, family office, financial innovation, fixed income, German hyperinflation, high net worth, hiring and firing, housing crisis, income per capita, index fund, inventory management, Long Term Capital Management, mortgage debt, passive investing, purchasing power parity, risk-adjusted returns, Robert Shiller, Robert Shiller, Ronald Reagan, Sharpe ratio, Silicon Valley, superstar cities, survivorship bias, transaction costs, Vanguard fund

Let’s consider how easy it would be to bob and weave in these market cycles. We know that (a) bonds are supreme during market downturns and (b) stocks are supreme in upturns. So all we have to do is shift portfolios to bonds in time for recessions (or perhaps prior to the start of the recessions). Then we have to shift portfolios back to stocks just in time. It’s plausible that Japanese automakers can run their production lines successfully with “just-in-time” inventory management. But it may be a trifle more difficult for investors to do the same. So what should investors do in a downturn? The answer is that they should sit tight. David Swensen of the Yale endowment perhaps said it most clearly. When asked in January 2009 whether poor investment performance in 2008 would induce him to tinker with his asset allocation, he replied “I don’t think it makes sense . . . to structure a portfolio to perform well in a period of financial crisis.


pages: 298 words: 43,745

Understanding Sponsored Search: Core Elements of Keyword Advertising by Jim Jansen

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AltaVista, barriers to entry, Black Swan, bounce rate, business intelligence, butterfly effect, call centre, Claude Shannon: information theory, complexity theory, correlation does not imply causation, en.wikipedia.org, first-price auction, information asymmetry, information retrieval, intangible asset, inventory management, life extension, linear programming, megacity, Nash equilibrium, Network effects, PageRank, place-making, price mechanism, psychological pricing, random walk, Schrödinger's Cat, sealed-bid auction, search engine result page, second-price auction, second-price sealed-bid, sentiment analysis, social web, software as a service, stochastic process, telemarketer, the market place, The Present Situation in Quantum Mechanics, the scientific method, The Wisdom of Crowds, Vickrey auction, Vilfredo Pareto, yield management

For example, to compare online holiday retail revenue from last year to this year (see Chapter 6 BAM!). Yield: the percentage of clicks versus impressions on an ad within a specific page. Also called ad click rate (Source: IAB) (see Chapter 6 BAM!). Yield management: yield and revenue management is the process of understanding, anticipating, and influencing advertiser and consumer behavior to maximize profits through better selling, pricing, packaging, and inventory management while delivering value to advertisers and site users (Source: IAB) (see Chapter 6 BAM!). Zipf’s principle of least effort: an information-seeking client will tend to use the most convenient search method (see Chapter 3 keywords). 272 Glossary References [1] Johnson, S. 1755. “Johnson, Preface to the Dictionary.” In A Dictionary of the English Language. London: Johnson. Retrieved April 4, 2011, from http://ethnicity.rutgers.edu/~jlynch/Texts/preface.html [2] Brooks, N. 2006.


pages: 394 words: 118,929

Dreaming in Code: Two Dozen Programmers, Three Years, 4,732 Bugs, and One Quest for Transcendent Software by Scott Rosenberg

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A Pattern Language, Benevolent Dictator For Life (BDFL), Berlin Wall, c2.com, call centre, collaborative editing, conceptual framework, continuous integration, Donald Knuth, Douglas Engelbart, Douglas Engelbart, Douglas Hofstadter, Dynabook, en.wikipedia.org, Firefox, Ford paid five dollars a day, Francis Fukuyama: the end of history, George Santayana, Grace Hopper, Guido van Rossum, Gödel, Escher, Bach, Howard Rheingold, index card, Internet Archive, inventory management, Jaron Lanier, John Markoff, John von Neumann, knowledge worker, Larry Wall, life extension, Loma Prieta earthquake, Menlo Park, Merlin Mann, new economy, Nicholas Carr, Norbert Wiener, pattern recognition, Paul Graham, Potemkin village, RAND corporation, Ray Kurzweil, Richard Stallman, Ronald Reagan, Ruby on Rails, semantic web, side project, Silicon Valley, Singularitarianism, slashdot, software studies, source of truth, South of Market, San Francisco, speech recognition, stealth mode startup, stem cell, Stephen Hawking, Steve Jobs, Stewart Brand, Ted Nelson, Therac-25, thinkpad, Turing test, VA Linux, Vannevar Bush, Vernor Vinge, web application, Whole Earth Catalog, Y2K

In the grand game of corporate strategy and business competition, they simply don’t matter. They’ve become boring infrastructure—mere plumbing. The inflammatory title of Carr’s article raised predictable hackles, but his argument made eminent sense as long as you viewed IT as a fixed set of functions and capabilities. IT “doesn’t matter” as long as you know in advance that the things you expect software to accomplish for a business—accounting, workflow automation, inventory management, you name it—are not going to change and that your competition is using software to accomplish the same set of things. But of all the capital goods in which businesses invest large sums, software is uniquely mutable. The gigantic software packages for “customer relationship management” and “enterprise resource planning” that occupy the lives of the CTOs and CIOs of big corporations may be cumbersome and expensive.


pages: 457 words: 128,838

The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order by Paul Vigna, Michael J. Casey

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3D printing, Airbnb, altcoin, bank run, banking crisis, bitcoin, blockchain, Bretton Woods, California gold rush, capital controls, carbon footprint, clean water, collaborative economy, collapse of Lehman Brothers, Columbine, Credit Default Swap, cryptocurrency, David Graeber, disintermediation, Edward Snowden, Elon Musk, ethereum blockchain, fiat currency, financial innovation, Firefox, Flash crash, Fractional reserve banking, hacker house, Hernando de Soto, high net worth, informal economy, intangible asset, Internet of things, inventory management, Julian Assange, Kickstarter, Kuwabatake Sanjuro: assassination market, litecoin, Long Term Capital Management, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, McMansion, means of production, Menlo Park, mobile money, money: store of value / unit of account / medium of exchange, Network effects, new economy, new new economy, Nixon shock, offshore financial centre, payday loans, Pearl River Delta, peer-to-peer, peer-to-peer lending, pets.com, Ponzi scheme, prediction markets, price stability, profit motive, QR code, RAND corporation, regulatory arbitrage, rent-seeking, reserve currency, Robert Shiller, Robert Shiller, Satoshi Nakamoto, seigniorage, shareholder value, sharing economy, short selling, Silicon Valley, Silicon Valley startup, Skype, smart contracts, special drawing rights, Spread Networks laid a new fibre optics cable between New York and Chicago, Steve Jobs, supply-chain management, Ted Nelson, The Great Moderation, the market place, the payments system, The Wealth of Nations by Adam Smith, too big to fail, transaction costs, tulip mania, Turing complete, Tyler Cowen: Great Stagnation, Uber and Lyft, underbanked, WikiLeaks, Y Combinator, Y2K, zero-sum game, Zimmermann PGP

What companies such as Overstock are trying to do with digital-currency payments has parallels with what Walmart achieved by pioneering communications technology to revolutionize supply-chain management in the 1990s and early 2000s. The Arkansas-based retailer famously developed a sophisticated network with which to tie all of its suppliers worldwide into a single, integrated database for managing the goods and services flowing in and out of Walmart’s warehouses. Along with big improvements in shipping logistics, this allowed the company to optimize its just-in-time inventory management, which drastically cut its costs. Walmart parlayed those cost savings into the cheapest prices anywhere in the United States, which turned it into the iconic and, to some, infamous behemoth that now dominates American suburbia. Just as important, its high-tech network had a feedback effect on suppliers, contributing to the concentration of manufacturing in hubs such as China’s Pearl River Delta.


pages: 380 words: 118,675

The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone

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3D printing, airport security, AltaVista, Amazon Mechanical Turk, Amazon Web Services, bank run, Bernie Madoff, big-box store, Black Swan, book scanning, Brewster Kahle, call centre, centre right, Chuck Templeton: OpenTable, Clayton Christensen, cloud computing, collapse of Lehman Brothers, crowdsourcing, cuban missile crisis, Danny Hillis, Douglas Hofstadter, Elon Musk, facts on the ground, game design, housing crisis, invention of movable type, inventory management, James Dyson, Jeff Bezos, John Markoff, Kevin Kelly, Kodak vs Instagram, late fees, loose coupling, low skilled workers, Maui Hawaii, Menlo Park, Network effects, new economy, optical character recognition, pets.com, Ponzi scheme, quantitative hedge fund, recommendation engine, Renaissance Technologies, RFID, Rodney Brooks, search inside the book, shareholder value, Silicon Valley, Silicon Valley startup, six sigma, skunkworks, Skype, statistical arbitrage, Steve Ballmer, Steve Jobs, Steven Levy, Stewart Brand, Thomas L Friedman, Tony Hsieh, Whole Earth Catalog, why are manhole covers round?, zero-sum game

Bezos built the first two desks out of sixty-dollar blond-wood doors from Home Depot, an endeavor that later carried almost biblical significance at Amazon, like Noah building the ark. In late September, Bezos drove down to Portland, Oregon, to take a four-day course on bookselling sponsored by the American Booksellers Association, a trade organization for independent bookstores. The seminar covered such topics as “Selecting Opening Inventory” and “Inventory Management.”1 At the same time, Kaphan started looking for computers and databases and learning how to code a website—in those days, everything on the Internet had to be custom built. It was all done on a threadbare budget. At first Bezos backed the company himself with $10,000 in cash, and over the next sixteen months, he would finance the startup with an additional $84,000 in interest-free loans, according to public documents.


pages: 494 words: 142,285

The Future of Ideas: The Fate of the Commons in a Connected World by Lawrence Lessig

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AltaVista, Andy Kessler, barriers to entry, business process, Cass Sunstein, commoditize, computer age, creative destruction, dark matter, disintermediation, Donald Davies, Erik Brynjolfsson, George Gilder, Hacker Ethic, Hedy Lamarr / George Antheil, Howard Rheingold, Hush-A-Phone, HyperCard, hypertext link, Innovator's Dilemma, invention of hypertext, inventory management, invisible hand, Jean Tirole, Jeff Bezos, Joseph Schumpeter, Kenneth Arrow, Larry Wall, Leonard Kleinrock, linked data, Marc Andreessen, Menlo Park, Network effects, new economy, packet switching, peer-to-peer, peer-to-peer model, price mechanism, profit maximization, RAND corporation, rent control, rent-seeking, RFC: Request For Comment, Richard Stallman, Richard Thaler, Robert Bork, Ronald Coase, Search for Extraterrestrial Intelligence, SETI@home, Silicon Valley, smart grid, software patent, spectrum auction, Steve Crocker, Steven Levy, Stewart Brand, Ted Nelson, Telecommunications Act of 1996, The Chicago School, transaction costs, zero-sum game

See also “Online Entertainment: Coming Soon to a Digital Device Near You: Hearing Before the Senate Comm. on the Judiciary,” 107th Cong. (2001) (statement of Hilary Rosen, president and CEO, Recording Industry Association of America), available at http://judiciary.senate.gov/te040301hr.htm; Press Release, Record Industry Association of America, Hilary Rosen Press Conference Statement, February 12, 2001, available at http://www.riaa.com/News_Story.cfm?id=371. 42 As Yochai Benkler writes, “[I]ncreases in intellectual property rights are likely to lead, over time, to concentration of a greater portion of the information production function in the hands of large commercial organizations that vertically integrate new production with inventory management.” Yochai Benkler, “The Commons as a Neglected Factor of Information Policy,” October 3-5, 1998, 74. Likely, and we might add, have. Compare, as David Isenberg points out, the connection to the history of AT&T: “You can see now in the record industry, for example, that the record companies are unwilling to give up this idea of the control of the physical medium even though they could perhaps do a very good job of artist development.”


pages: 385 words: 128,358

Inside the House of Money: Top Hedge Fund Traders on Profiting in a Global Market by Steven Drobny

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Albert Einstein, asset allocation, Berlin Wall, Bonfire of the Vanities, Bretton Woods, buy low sell high, capital controls, central bank independence, Chance favours the prepared mind, commoditize, commodity trading advisor, corporate governance, correlation coefficient, Credit Default Swap, diversification, diversified portfolio, family office, fixed income, glass ceiling, high batting average, implied volatility, index fund, inflation targeting, interest rate derivative, inventory management, John Meriwether, Long Term Capital Management, margin call, market bubble, Maui Hawaii, Mexican peso crisis / tequila crisis, moral hazard, Myron Scholes, new economy, Nick Leeson, oil shale / tar sands, oil shock, out of africa, paper trading, Paul Samuelson, Peter Thiel, price anchoring, purchasing power parity, reserve currency, risk tolerance, risk-adjusted returns, risk/return, rolodex, Sharpe ratio, short selling, Silicon Valley, The Wisdom of Crowds, too big to fail, transaction costs, value at risk, yield curve, zero-coupon bond, zero-sum game

I’d been there for a while when I was made an offer to come on fulltime as a project manager to help implement our recommended changes. As a consultant, you tend to roll in, offer your advice, and leave. I actually wanted to implement some ideas and see if there was any value. So I took the job and was there for about two years helping to change shop floor operations.While there, I also studied and took the exams for Certification in Production Inventory Management, which is the manufacturing equivalent of the CFA (Chartered Financial Analyst) or CPA (Certified Public Accountant) exams. It was a great experience dealing with a private, traditional, old company and managing people much older than me in that sort of environment. It was also interesting to me that the company realized the purchase price of something but not the cost. For example, it had a massive employee turnover issue.

Making Globalization Work by Joseph E. Stiglitz

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affirmative action, Andrei Shleifer, Asian financial crisis, banking crisis, barriers to entry, Berlin Wall, business process, capital controls, central bank independence, corporate governance, corporate social responsibility, currency manipulation / currency intervention, Doha Development Round, Exxon Valdez, Fall of the Berlin Wall, Firefox, full employment, Gini coefficient, global reserve currency, Gunnar Myrdal, happiness index / gross national happiness, illegal immigration, income inequality, income per capita, incomplete markets, Indoor air pollution, informal economy, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), inventory management, invisible hand, John Markoff, Kenneth Arrow, Kenneth Rogoff, low skilled workers, manufacturing employment, market fundamentalism, Martin Wolf, microcredit, moral hazard, North Sea oil, offshore financial centre, oil rush, open borders, open economy, price stability, profit maximization, purchasing power parity, quantitative trading / quantitative finance, race to the bottom, reserve currency, rising living standards, risk tolerance, Silicon Valley, special drawing rights, statistical model, the market place, The Wealth of Nations by Adam Smith, Thomas L Friedman, trade liberalization, trickle-down economics, union organizing, Washington Consensus, zero-sum game

Small businessmen are often the backbone of a community, and as Wal-Mart squelches its competitors, it breaks that backbone. A few donations to local charities do little to compensate. Chapter 2 emphasized the important role that communities play in successful development; by weakening communities, corporations may, in the long run, even weaken development.' Some of Wal-Mart's success is based on greater efficiency (better inventory management and logistics), but much is based simply on its market power, its ability to squeeze its suppliers and its workers. Its strict policy against union organizing means that its workers are often lowpaid, and their low wages force down wages at Wal-Mart's competitors, so not only Wal-Mart workers are affected. Only about half of its 1.4 million employees are covered by health-care benefits. The U.S. state of Georgia's public program providing coverage for children who would otherwise be uninsured found that more than 10,000 of the 166,000 children it covers had a parent working for Wal-Mart—more than any other employer.


pages: 624 words: 127,987

The Personal MBA: A World-Class Business Education in a Single Volume by Josh Kaufman

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Albert Einstein, Atul Gawande, Black Swan, business process, buy low sell high, capital asset pricing model, Checklist Manifesto, cognitive bias, correlation does not imply causation, Credit Default Swap, Daniel Kahneman / Amos Tversky, David Heinemeier Hansson, David Ricardo: comparative advantage, Dean Kamen, delayed gratification, discounted cash flows, Donald Knuth, double entry bookkeeping, Douglas Hofstadter, en.wikipedia.org, Frederick Winslow Taylor, George Santayana, Gödel, Escher, Bach, high net worth, hindsight bias, index card, inventory management, iterative process, job satisfaction, Johann Wolfgang von Goethe, Kevin Kelly, Lao Tzu, loose coupling, loss aversion, Marc Andreessen, market bubble, Network effects, Parkinson's law, Paul Buchheit, Paul Graham, place-making, premature optimization, Ralph Waldo Emerson, rent control, side project, statistical model, stealth mode startup, Steve Jobs, Steve Wozniak, subscription business, telemarketer, the scientific method, time value of money, Toyota Production System, tulip mania, Upton Sinclair, Vilfredo Pareto, Walter Mischel, Y Combinator, Yogi Berra

—MICHAEL LEBOEUF, BUSINESS PROFESSOR AND AUTHOR OF HOW TO WIN CUSTOMERS AND KEEP THEM FOR LIFE Every successful business actually delivers what it promises to its customers. There’s a term for a person who takes other people’s money without delivering equivalent value: “scam artist.” Value Delivery involves everything necessary to ensure that every paying customer is a happy customer: order processing, inventory management, delivery/fulfillment, troubleshooting, customer support, etc. Without Value Delivery, you don’t have a business. The best businesses in the world deliver the value they’ve promised to their customers in a way that surpasses the customers’ expectations. Customers like to get the benefits of their purchases quickly, reliably, and consistently. The more happy customers a business creates, the more likely it is that those customers will purchase from the company again.


The Blockchain Alternative: Rethinking Macroeconomic Policy and Economic Theory by Kariappa Bheemaiah

accounting loophole / creative accounting, Ada Lovelace, Airbnb, algorithmic trading, asset allocation, autonomous vehicles, balance sheet recession, bank run, banks create money, Basel III, basic income, Ben Bernanke: helicopter money, bitcoin, blockchain, Bretton Woods, business process, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, cashless society, cellular automata, central bank independence, Claude Shannon: information theory, cloud computing, cognitive dissonance, collateralized debt obligation, commoditize, complexity theory, constrained optimization, corporate governance, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, crowdsourcing, cryptocurrency, David Graeber, deskilling, Diane Coyle, discrete time, distributed ledger, diversification, double entry bookkeeping, ethereum blockchain, fiat currency, financial innovation, financial intermediation, Flash crash, floating exchange rates, Fractional reserve banking, full employment, George Akerlof, illegal immigration, income inequality, income per capita, inflation targeting, information asymmetry, interest rate derivative, inventory management, invisible hand, John Maynard Keynes: technological unemployment, John von Neumann, joint-stock company, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, Kevin Kelly, knowledge economy, labour market flexibility, large denomination, liquidity trap, London Whale, low skilled workers, M-Pesa, Marc Andreessen, market bubble, market fundamentalism, Mexican peso crisis / tequila crisis, money market fund, money: store of value / unit of account / medium of exchange, mortgage debt, natural language processing, Network effects, new economy, Nikolai Kondratiev, offshore financial centre, packet switching, Pareto efficiency, pattern recognition, peer-to-peer lending, Ponzi scheme, precariat, pre–internet, price mechanism, price stability, private sector deleveraging, profit maximization, QR code, quantitative easing, quantitative trading / quantitative finance, Ray Kurzweil, Real Time Gross Settlement, rent control, rent-seeking, Satoshi Nakamoto, Satyajit Das, savings glut, seigniorage, Silicon Valley, Skype, smart contracts, software as a service, software is eating the world, speech recognition, statistical model, Stephen Hawking, supply-chain management, technology bubble, The Chicago School, The Future of Employment, The Great Moderation, the market place, The Nature of the Firm, the payments system, the scientific method, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, too big to fail, trade liberalization, transaction costs, Turing machine, Turing test, universal basic income, Von Neumann architecture, Washington Consensus

At an international scale, what is required is an ICANN-esque equivalent for the Blockchain. Trade Finance Trade is the oldest form of value exchange that human societies have engaged in. Today, the movement of goods across borders is carried out through supply chain management and trade finance. Supply chain deals with the processes that document the flow of goods from producer to consumer. It encompasses a wide range of procedures and structures that govern manufacturing, inventory management, and quality control. This involves a number of intermediaries and the transactions between them have to be documented to ensure the integrity of the trade process. The key word to remember is documentation. Today’s trade transaction and associated processes involves the transfers of records such as purchase orders, invoices, bills of lading, customs documentation, certificates of authenticity, etc.


pages: 472 words: 117,093

Machine, Platform, Crowd: Harnessing Our Digital Future by Andrew McAfee, Erik Brynjolfsson

3D printing, additive manufacturing, AI winter, Airbnb, airline deregulation, airport security, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, artificial general intelligence, augmented reality, autonomous vehicles, backtesting, barriers to entry, bitcoin, blockchain, book scanning, British Empire, business process, carbon footprint, Cass Sunstein, centralized clearinghouse, Chris Urmson, cloud computing, cognitive bias, commoditize, complexity theory, computer age, creative destruction, crony capitalism, crowdsourcing, cryptocurrency, Daniel Kahneman / Amos Tversky, Dean Kamen, discovery of DNA, disintermediation, distributed ledger, double helix, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, ethereum blockchain, everywhere but in the productivity statistics, family office, fiat currency, financial innovation, George Akerlof, global supply chain, Hernando de Soto, hive mind, information asymmetry, Internet of things, inventory management, iterative process, Jean Tirole, Jeff Bezos, jimmy wales, John Markoff, joint-stock company, Joseph Schumpeter, Kickstarter, law of one price, Lyft, Machine translation of "The spirit is willing, but the flesh is weak." to Russian and back, Marc Andreessen, Mark Zuckerberg, meta analysis, meta-analysis, moral hazard, multi-sided market, Myron Scholes, natural language processing, Network effects, new economy, Norbert Wiener, Oculus Rift, PageRank, pattern recognition, peer-to-peer lending, performance metric, Plutocrats, plutocrats, precision agriculture, prediction markets, pre–internet, price stability, principal–agent problem, Ray Kurzweil, Renaissance Technologies, Richard Stallman, ride hailing / ride sharing, risk tolerance, Ronald Coase, Satoshi Nakamoto, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Skype, slashdot, smart contracts, Snapchat, speech recognition, statistical model, Steve Ballmer, Steve Jobs, Steven Pinker, supply-chain management, TaskRabbit, Ted Nelson, The Market for Lemons, The Nature of the Firm, Thomas L Friedman, too big to fail, transaction costs, transportation-network company, traveling salesman, two-sided market, Uber and Lyft, Uber for X, Watson beat the top human players on Jeopardy!, winner-take-all economy, yield management, zero day

However, this depreciation is not uniform: a new handbag, for example, might go out of style quite quickly in fashion-forward New York, but then become popular elsewhere in the country. Rent the Runway thus practices a type of revenue management that differs from ClassPass’s approach—one aimed at preserving the value of durable inventory as long as possible by presenting it to the people around the country with the highest willingness to pay, as determined by the company’s algorithms. By the spring of 2016, Rent the Runway felt confident enough in its revenue and inventory management expertise to launch its own version of an unlimited service, one that treated articles of clothing much the way Netflix treated physical DVDs. For a flat $139 per month, a Rent the Runway member could keep three items with her at all times. As soon as she returned one, the next one on her wish list would be sent to her. With this approach, the company hoped to encourage constant use while preventing the kind of overuse that sank the ClassPass Unlimited offering.


pages: 624 words: 180,416

For the Win by Cory Doctorow

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barriers to entry, Burning Man, creative destruction, double helix, Internet Archive, inventory management, loose coupling, Maui Hawaii, microcredit, New Journalism, Ponzi scheme, Post-materialism, post-materialism, random walk, RFID, Silicon Valley, skunkworks, slashdot, speech recognition, stem cell, Steve Jobs, Steve Wozniak, supply-chain management, technoutopianism, union organizing, urban renewal, wage slave

But Lester’s works-in-progress, his keepsakes, his sculptures and triptychs were still out, looking like venerated museum pieces in the stark tidiness that prevailed otherwise. Tjan took her through the spreadsheets. “There are ten teams that do closet-organizing in the network, and a bunch of shippers, packers, movers, and storage experts. A few furniture companies. We adopted the interface from some free software inventory-management apps that were built for illiterate service employees. Lots of big pictures and autocompletion. And we’ve bought a hundred RFID printers from a company that was so grateful for a new customer that they’re shipping us 150 of them, so we can print these things at about a million per hour. The plan is to start our sales through the consultants at the same time as we start showing at trade-shows for furniture companies.


pages: 840 words: 202,245

Age of Greed: The Triumph of Finance and the Decline of America, 1970 to the Present by Jeff Madrick

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accounting loophole / creative accounting, Asian financial crisis, bank run, Bretton Woods, capital controls, collapse of Lehman Brothers, collateralized debt obligation, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, desegregation, disintermediation, diversified portfolio, Donald Trump, financial deregulation, fixed income, floating exchange rates, Frederick Winslow Taylor, full employment, George Akerlof, Hyman Minsky, income inequality, index fund, inflation targeting, inventory management, invisible hand, John Meriwether, Kitchen Debate, laissez-faire capitalism, locking in a profit, Long Term Capital Management, market bubble, minimum wage unemployment, money market fund, Mont Pelerin Society, moral hazard, mortgage debt, Myron Scholes, new economy, North Sea oil, Northern Rock, oil shock, Paul Samuelson, Philip Mirowski, price stability, quantitative easing, Ralph Nader, rent control, road to serfdom, Robert Bork, Robert Shiller, Robert Shiller, Ronald Coase, Ronald Reagan, Ronald Reagan: Tear down this wall, shareholder value, short selling, Silicon Valley, Simon Kuznets, technology bubble, Telecommunications Act of 1996, The Chicago School, The Great Moderation, too big to fail, union organizing, V2 rocket, value at risk, Vanguard fund, War on Poverty, Washington Consensus, Y2K, Yom Kippur War

Ted Turner at the debut of his company, CNN (Illustration credit 8.1) Sam Walton giving a pep talk to Wal-Mart employees (Illustration credit 8.2) Steve Ross of Warner Communications with his socialite wife, Amanda Burden (Illustration credit 8.3) Three entrepreneurs were representative. Sam Walton built the discount retailer Wal-Mart into America’s largest company and the largest retailer in the world, and raised inventory management and distribution, through computer technologies, to a level of efficiency that enabled him to minimize worker pay and place immense pressure on suppliers for low prices. Steve Ross raised the entertainment conglomerate to new heights, building Warner Communications into the most enterprising company in its field. Ross, who began by running funeral parlors, showed that anyone could now buy almost anything because the new Wall Street structure could finance outsize deals.


pages: 756 words: 167,393

The Tylenol Mafia by Scott Bartz

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Donald Trump, en.wikipedia.org, intangible asset, inventory management, Just-in-time delivery, life extension, Ronald Reagan, Ted Kaczynski, the scientific method, too big to fail

“'Shadow' drug market detailed.” 1986. -- Kenyon, Quane. “Drugs Worth $380,000 On Street Missing AtSHS.” Idaho State Journal, October 30, 1977. I am writing to alert: Patterson, George. “Dear Federal Supply Schedule (FSS) 65 IB Contractor.” VA Acquisition Center, Hines, IL, January 9, 2001. From 1975 to 1982: GAO. “Fraud in Government Programs: Volume 1.” Report to Congress, May 7, 1981. – GAO. “Inventory Management: Problems in Accountability and Security of DOD Supply Inventories.” Briefing Report to the Honorable Pete Wilson, U.S. Senate, May 1986. – GAO. “More Effective Internal Controls Needed To Prevent Fraud And Waste In Military Exchanges.” Report to the Congress of the United States, December 31, 1980. “In our opinion, the failure to identify causes and prevent recurrence of reported”: GAO.


pages: 603 words: 182,781

Aerotropolis by John D. Kasarda, Greg Lindsay

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3D printing, air freight, airline deregulation, airport security, Akira Okazaki, Asian financial crisis, back-to-the-land, barriers to entry, Berlin Wall, big-box store, blood diamonds, borderless world, British Empire, call centre, carbon footprint, Cesare Marchetti: Marchetti’s constant, Clayton Christensen, cleantech, cognitive dissonance, commoditize, conceptual framework, credit crunch, David Brooks, David Ricardo: comparative advantage, Deng Xiaoping, deskilling, digital map, edge city, Edward Glaeser, failed state, food miles, Ford paid five dollars a day, Frank Gehry, fudge factor, full employment, future of work, Geoffrey West, Santa Fe Institute, George Gilder, global supply chain, global village, gravity well, Haber-Bosch Process, Hernando de Soto, hive mind, if you build it, they will come, illegal immigration, inflight wifi, intangible asset, interchangeable parts, Intergovernmental Panel on Climate Change (IPCC), intermodal, invention of the telephone, inventory management, invisible hand, Jane Jacobs, Jeff Bezos, Kangaroo Route, knowledge worker, kremlinology, labour mobility, Marchetti’s constant, Marshall McLuhan, Masdar, mass immigration, McMansion, megacity, Menlo Park, microcredit, Network effects, New Economic Geography, new economy, New Urbanism, oil shale / tar sands, oil shock, peak oil, Pearl River Delta, Peter Thiel, pets.com, pink-collar, pre–internet, RFID, Richard Florida, Ronald Coase, Ronald Reagan, Rubik’s Cube, savings glut, Seaside, Florida, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, spinning jenny, stem cell, Steve Jobs, supply-chain management, sustainable-tourism, telepresence, the built environment, The Chicago School, The Death and Life of Great American Cities, The Nature of the Firm, thinkpad, Thomas L Friedman, Thomas Malthus, Tony Hsieh, trade route, transcontinental railway, transit-oriented development, traveling salesman, trickle-down economics, upwardly mobile, urban planning, urban renewal, urban sprawl, walkable city, white flight, white picket fence, Yogi Berra, zero-sum game

., 186 Window on the World, 409–10 Wipro, 281, 283 Wongsawat, Somchai, 252, 256 World Bank, 337 World’s Fair (1939), 192 “World’s Unofficial Longest Line” video, 13–14 World Trade Organization, Seattle clashes and, 168 World War II: aviation and aerospace industry in, 27; Ford production during, 179–80, 188 Wright Brothers, 341, 349, 412, 413 Wrigley Field, 411, 413, 414 Xi’an, China, 387, 390 YouTube, 13–14 Zahavi, Yakov, 117 Zappos.com, 66, 69–77, 422; business expansion of, 72;customer service at, 70–71; as decentralized, 74; fulfillment by, 73–74; inventory management at, 73, 74; ordering from, 71–73; shipping strategy of, 70, 72 Zemcik, Marty, 142–44 Zhang Qian, 409 Zhao, Jeff, 205–207 Zheng He, 390 Zhou Tianbao, 205–206 Zhuhai, China, 378, 383 Zimbabwe, economy of, 325 Zoellick, Robert, 400 A Note About the Authors John D. Kasarda, a professor at the University of North Carolina’s Kenan-Flagler Business School, advises countries, cities, and companies about the aerotropolis and its implications.


pages: 548 words: 174,644

Boyd: The Fighter Pilot Who Changed the Art of War by Robert Coram

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desegregation, inventory management, Iridium satellite, Joseph Schumpeter, Mason jar, RAND corporation, Ronald Reagan, Thomas Kuhn: the structure of scientific revolutions, Toyota Production System, traveling salesman

No Kum-Sok. A MiG- 15 to Freedom. Jefferson, N.C.: McFarland & Company, 1996. Operation Desert Storm Evaluation of the Air War. Washington: United States General Accounting Office, 1996. O’Shaughnessy, Hugh. Grenada. New York: Dodd, Mead & Company, 1984. Prados, John. The Blood Road. New York: John Wiley & Sons, Inc., 1999. Richards, Chester W. “Agile Manufacturing: Beyond Lean?” Production and Inventory Management Journal (Second Quarter, 1996): 60–64. ———. A Swift, Elusive Sword. Washington: Center for Defense Information, 2001. ———. “Riding the Tiger: What You Really Do with OODA Loops.” In Handbook of Business Strategy. New York: Faulkner & Gray, 1995. Robinson, Clarence A. Jr. “USAF Studies Fighters for Dual-Role.” Aviation Week & Space Technology (January 3, 1983): 36–40. “Rollover Beethoven… Bail Out!

The Data Warehouse Toolkit: The Definitive Guide to Dimensional Modeling by Ralph Kimball, Margy Ross

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active measures, Albert Einstein, business intelligence, business process, call centre, cloud computing, data acquisition, discrete time, inventory management, iterative process, job automation, knowledge worker, performance metric, platform as a service, side project, supply-chain management, zero-sum game

Dentists use the Current Dental Terminology (CDT) code set, which is updated and distributed by the American Dental Association. Finally, beyond integrated patient-centric clinical and fi nancial information, healthcare organizations also want to analyze operational information regarding the utilization of their workforce, facilities, and supplies. Much of the discussion from earlier chapters about human resources, inventory management, and procurement processes is also applicable to healthcare organizations. Claims Billing and Payments Imagine you work in the healthcare consortium’s billing organization. You receive the primary charges from the physicians and facilities, prepare bills for the responsible payers, and track the progress of the claims payments received. The dimensional model for the claims billing process must address a number of business objectives.


pages: 671 words: 228,348

Pro AngularJS by Adam Freeman

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business process, create, read, update, delete, en.wikipedia.org, Google Chrome, information retrieval, inventory management, MVC pattern, place-making, premature optimization, revision control, Ruby on Rails, single page application, web application

This isn’t as elegant or robust as using the URL routing feature, but it is functional and is a useful technique in complex applications where a single instance of the ng-view directive doesn’t provide the depth of control over views that is required. Figure 8-10.  Using the ng-include directive to select views Implementing the Orders Feature I am going to start with the list of orders, which is the simplest to deal with because I am only going to display a read-only list. In a real e-commerce application, orders would go into a complex workflow that would involve payment validation, inventory management, picking and packing, and—ultimately—shipping the ordered products. As I explained in Chapter 6, these are not features you would implement using AngularJS, so I have omitted them from the SportsStore application. With that in mind, I have added a new controller to the adminControllers.js file that uses the $http service to make an Ajax GET request to Deployd to get the orders, as shown in Listing 8-18. 196 Chapter 8 ■ SportsStore: Orders and Administration Listing 8-18. 


pages: 843 words: 223,858

The Rise of the Network Society by Manuel Castells

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Apple II, Asian financial crisis, barriers to entry, Big bang: deregulation of the City of London, Bob Noyce, borderless world, British Empire, capital controls, complexity theory, computer age, computerized trading, creative destruction, Credit Default Swap, declining real wages, deindustrialization, delayed gratification, dematerialisation, deskilling, disintermediation, double helix, Douglas Engelbart, Douglas Engelbart, edge city, experimental subject, financial deregulation, financial independence, floating exchange rates, future of work, global village, Gunnar Myrdal, Hacker Ethic, hiring and firing, Howard Rheingold, illegal immigration, income inequality, Induced demand, industrial robot, informal economy, information retrieval, intermodal, invention of the steam engine, invention of the telephone, inventory management, James Watt: steam engine, job automation, job-hopping, John Markoff, knowledge economy, knowledge worker, labor-force participation, labour market flexibility, labour mobility, laissez-faire capitalism, Leonard Kleinrock, low skilled workers, manufacturing employment, Marc Andreessen, Marshall McLuhan, means of production, megacity, Menlo Park, moral panic, new economy, New Urbanism, offshore financial centre, oil shock, open economy, packet switching, Pearl River Delta, peer-to-peer, planetary scale, popular capitalism, popular electronics, post-industrial society, postindustrial economy, prediction markets, Productivity paradox, profit maximization, purchasing power parity, RAND corporation, Robert Gordon, Robert Metcalfe, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, social software, South China Sea, South of Market, San Francisco, special economic zone, spinning jenny, statistical model, Steve Jobs, Steve Wozniak, Ted Nelson, the built environment, the medium is the message, the new new thing, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, total factor productivity, trade liberalization, transaction costs, urban renewal, urban sprawl, zero-sum game

Flex-time and the Network Enterprise The supersession of time is also at the core of the new organizational forms of economic activity that I have identified as the network enterprise. Flexible forms of management, relentless utilization of fixed capital, intensified performance of labor, strategic alliances, and inter-organizational linkages, all come down to shortening time per operation and to speeding up turnover of resources. Indeed, the “just-in-time” inventory management procedure has been the symbol of lean production, even if, as I mentioned above, it belongs to a preelectronic age of manufacturing technology. Yet, in the informational economy, this time compression does not primarily rely on extracting more time from labor or more labor from time under the clock imperative. Because the value-making potential of labor and organizations is highly dependent on the autonomy of informed labor to make decisions in real time, the traditional disciplinary management of labor does not fit the new production system.28 Instead, skilled labor is required to manage its own time in a flexible manner, sometimes adding more work time, at other times adjusting to flexible schedules, in some instances reducing working hours, and thus pay.


pages: 348 words: 39,850

Data Scientists at Work by Sebastian Gutierrez

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Albert Einstein, algorithmic trading, Bayesian statistics, bioinformatics, bitcoin, business intelligence, chief data officer, clean water, cloud computing, commoditize, computer vision, continuous integration, correlation does not imply causation, creative destruction, crowdsourcing, data is the new oil, DevOps, domain-specific language, Donald Knuth, follow your passion, full text search, informal economy, information retrieval, Infrastructure as a Service, Intergovernmental Panel on Climate Change (IPCC), inventory management, iterative process, lifelogging, linked data, Mark Zuckerberg, microbiome, Moneyball by Michael Lewis explains big data, move fast and break things, move fast and break things, natural language processing, Network effects, nuclear winter, optical character recognition, pattern recognition, Paul Graham, personalized medicine, Peter Thiel, pre–internet, quantitative hedge fund, quantitative trading / quantitative finance, recommendation engine, Renaissance Technologies, Richard Feynman, Richard Feynman, self-driving car, side project, Silicon Valley, Skype, software as a service, speech recognition, statistical model, Steve Jobs, stochastic process, technology bubble, text mining, the scientific method, web application

Ten thousand new members sign up each day. With this growth comes challenges, as the increasing numbers of members, recipients, email addresses, and emails sent make it harder and harder to fight spam intelligently, model email sender and receiver behavior, and understand the overall email ecosystem. Before becoming a data scientist, Foreman’s career spanned positions at the National Security Agency, at MIT in dynamic inventory management, at Booz Allen Hamilton as an analytics and management consultant, and at Revenue Analytics, Inc., where he helped Fortune 500 companies with revenue management, price optimization, and sales forecasting. In these various roles, Foreman interacted with a wide range of stakeholders—from the US Department of Defense and Internal Revenue Service to companies such as Coca-Cola, Royal Caribbean International, and Intercontinental Hotels Group.


pages: 602 words: 177,874

Thank You for Being Late: An Optimist's Guide to Thriving in the Age of Accelerations by Thomas L. Friedman

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3D printing, additive manufacturing, affirmative action, Airbnb, AltaVista, Amazon Web Services, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Berlin Wall, Bernie Sanders, bitcoin, blockchain, Bob Noyce, business process, call centre, centre right, Chris Wanstrath, Clayton Christensen, clean water, cloud computing, corporate social responsibility, creative destruction, crowdsourcing, David Brooks, demand response, demographic dividend, demographic transition, Deng Xiaoping, Donald Trump, Erik Brynjolfsson, failed state, Fall of the Berlin Wall, Ferguson, Missouri, first square of the chessboard / second half of the chessboard, Flash crash, game design, gig economy, global supply chain, illegal immigration, immigration reform, income inequality, indoor plumbing, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invention of the steam engine, inventory management, Irwin Jacobs: Qualcomm, Jeff Bezos, job automation, John Markoff, John von Neumann, Khan Academy, Kickstarter, knowledge economy, knowledge worker, land tenure, linear programming, Live Aid, low skilled workers, Lyft, Marc Andreessen, Mark Zuckerberg, mass immigration, Maui Hawaii, Menlo Park, Mikhail Gorbachev, mutually assured destruction, pattern recognition, planetary scale, pull request, Ralph Waldo Emerson, ransomware, Ray Kurzweil, Richard Florida, ride hailing / ride sharing, Robert Gordon, Ronald Reagan, Second Machine Age, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, smart cities, South China Sea, Steve Jobs, supercomputer in your pocket, TaskRabbit, Thomas L Friedman, transaction costs, Transnistria, urban decay, urban planning, Watson beat the top human players on Jeopardy!, WikiLeaks, women in the workforce, Y2K, Yogi Berra, zero-sum game

GitHub today is being used by more than twelve million programmers to write, improve, simplify, store, and share software applications and is growing rapidly—it added a million users between my first interview there in early 2015 and my last in early 2016. Imagine a place that is a cross between Wikipedia and Amazon—just for software: You go online to the GitHub library and pick out the software that you need right off the shelf—for, say, an inventory management system or a credit card processing system or a human resources management system or a video game engine or a drone-controlling system or a robotic management system. You then download it onto your company’s computer or your own, you adapt it for your specific needs, you or your software engineers improve it in some respects, and then you upload your improvements back into GitHub’s digital library so the next person can use this new, improved version.


pages: 781 words: 226,928

Commodore: A Company on the Edge by Brian Bagnall

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Apple II, belly landing, Bill Gates: Altair 8800, Byte Shop, Claude Shannon: information theory, computer age, Douglas Engelbart, Douglas Engelbart, Firefox, game design, index card, inventory management, Isaac Newton, low skilled workers, Menlo Park, packet switching, pink-collar, popular electronics, prediction markets, pre–internet, QWERTY keyboard, Robert Metcalfe, Robert X Cringely, Silicon Valley, special economic zone, Steve Jobs, Steve Wozniak, Ted Nelson

“We featured ‘Boatloads’ of software,” says Feagans. The director of business applications, Paul Goheen, brought along an uninspired line of business applications written in BASIC. The applications included Easy Calc 64, Easy Finance I through V, Easy Mail, Easy Spell, and so on. They also produced a series of small business applications with names like General Ledger, Accounts Payable, Accounts Receivable, and Inventory Management. Unfortunately, BASIC math was limited to performing calculations on numbers less than 10,000,000. The titles met with limited success, and Commodore ended up with excess inventory. During Commodore’s press briefing, Tramiel announced he would reduce the price of the C64 from $360 to just $200, one-third the original price a year ago. Intense free market competition had produced a consumer paradise.


pages: 1,758 words: 342,766

Code Complete (Developer Best Practices) by Steve McConnell

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Ada Lovelace, Albert Einstein, Buckminster Fuller, call centre, choice architecture, continuous integration, data acquisition, database schema, don't repeat yourself, Donald Knuth, fault tolerance, Grace Hopper, haute cuisine, if you see hoof prints, think horses—not zebras, index card, inventory management, iterative process, Larry Wall, late fees, loose coupling, Menlo Park, Perl 6, place-making, premature optimization, revision control, Sapir-Whorf hypothesis, slashdot, sorting algorithm, statistical model, Tacoma Narrows Bridge, the scientific method, Thomas Kuhn: the structure of scientific revolutions, Turing machine, web application

Every project is unique, but projects do tend to fall into general development styles. Table 3-2 shows three of the most common kinds of projects and lists the practices that are typically best suited to each kind of project. Table 3-2. Typical Good Practices for Three Common Kinds of Software Projects Kind of Software Business Systems Mission-Critical Systems Embedded Life-Critical Systems Typical applications Internet site Intranet site Inventory management Games Management information systems Payroll system Embedded software Games Internet site Packaged software Software tools Web services Avionics software Embedded software Medical devices Operating systems Packaged software Life-cycle models Agile development (Extreme Programming, Scrum, timebox development, and so on) Evolutionary prototyping Staged delivery Evolutionary delivery Spiral development Staged delivery Spiral development Evolutionary delivery Planning and management Incremental project planning As-needed test and QA planning Informal change control Basic up-front planning Basic test planning As-needed QA planning Formal change control Extensive up-front planning Extensive test planning Extensive QA planning Rigorous change control Requirements Informal requirements specification Semiformal requirements specification As-needed requirements reviews Formal requirements specification Formal requirements inspections Design Design and coding are combined Architectural design Informal detailed design As-needed design reviews Architectural design Formal architecture inspections Formal detailed design Formal detailed design inspections Construction Pair programming or individual coding Informal check-in procedure or no check-in procedure Pair programming or individual coding Informal check-in procedure As-needed code reviews Pair programming or individual coding Formal check-in procedure Formal code inspections Testing and QA Developers test their own code Test-first development Little or no testing by a separate test group Developers test their own code Test-first development Separate testing group Developers test their own code Test-first development Separate testing group Separate QA group Deployment Informal deployment procedure Formal deployment procedure Formal deployment procedure On real projects, you'll find infinite variations on the three themes presented in this table; however, the generalities in the table are illuminating.


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The Man Who Knew: The Life and Times of Alan Greenspan by Sebastian Mallaby

airline deregulation, airport security, Andrei Shleifer, anti-communist, Asian financial crisis, balance sheet recession, bank run, barriers to entry, Benoit Mandelbrot, Bretton Woods, central bank independence, centralized clearinghouse, collateralized debt obligation, conceptual framework, corporate governance, correlation does not imply causation, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency peg, energy security, equity premium, fiat currency, financial deregulation, financial innovation, fixed income, Flash crash, forward guidance, full employment, Hyman Minsky, inflation targeting, information asymmetry, interest rate swap, inventory management, invisible hand, Kenneth Rogoff, Kitchen Debate, laissez-faire capitalism, Long Term Capital Management, low skilled workers, market bubble, market clearing, Martin Wolf, money market fund, moral hazard, mortgage debt, Myron Scholes, new economy, Nixon shock, Northern Rock, paper trading, paradox of thrift, Paul Samuelson, Plutocrats, plutocrats, popular capitalism, price stability, RAND corporation, rent-seeking, Robert Shiller, Robert Shiller, rolodex, Ronald Reagan, Saturday Night Live, savings glut, secular stagnation, short selling, The Great Moderation, the payments system, The Wealth of Nations by Adam Smith, too big to fail, trade liberalization, unorthodox policies, upwardly mobile, WikiLeaks, women in the workforce, Y2K, yield curve, zero-sum game

Mike Prell, the Fed’s head of Research and Statistics, concluded that it was only a matter of time before rising wages triggered inflation. Not everyone accepted Prell’s verdict. A few FOMC members felt that productivity might be accelerating, even if official data did not capture it. Buoyed by sizzling growth and a hot stock market, business executives were brimming with anecdotes about efficiency gains—gains that resulted from information technology; from innovations such as just-in-time inventory management; and from the multiple opportunities presented by deregulation, de-unionization, trade liberalization, and globalization. “Mike, I agree with your characterization of the productivity data,” Gary Stern, the president of the Minneapolis Fed, exclaimed during the August FOMC meeting. “But I think the business community would take sharp exception to it. Everywhere I go, they talk about the tremendous productivity improvements that they are achieving.”25 Greenspan was on both sides of this debate.