Part I: Building a Strategic Framework to Analyze Supply Chains
Chapter 1: Understanding the Supply Chain
Chapter 2: Supply Chain Performance: Achieving Strategic Fit and Scope
Chapter 3: Supply Chain Drivers and Metrics
Part II: Designing the Supply Chain Network
Chapter 4: Designing Distribution Networks and Applications to e-Business
Chapter 5: Network Design in the Supply Chain
Chapter 6: Designing Global Supply Chain Networks
Part III: Planning and Coordinating Demand and Supply in a Supply Chain
Chapter 7: Demand Forecasting in a Supply Chain
Chapter 8: Aggregate Planning in a Supply Chain
Chapter 9: Sales and Operations Planning: Planning Supply and Demand in a Supply Chain
Chapter 10: Coordination in a Supply Chain
Part IV: Planning and Managing Inventories in a Supply Chain
Chapter 11: Managing Economies of Scale in a Supply Chain: Cycle Inventory
Chapter 12: Managing Uncertainty in a Supply Chain: Safety Inventory
Chapter 13: Determining the Optimal Level of Product Availability
Part V: Designing and Planning Transportation Networks
Chapter 14: Transportation in a Supply Chain
Part VI: Managing Cross-Functional Drivers in a Supply Chain
Chapter 15: Sourcing Decisions in a Supply Chain
Chapter 16: Pricing and Revenue Management in a Supply Chain
Chapter 17: Information Technology in a Supply Chain
Chapter 18: Sustainability and the Supply Chain
Samuel Moore "Sam" Walton (March 29, 1918 – April 5, 1992) was born in Kingfisher, Oklahoma. He graduatrd in 1940 with a Bachelor's of Economics.
Walton joined JC Penney as a management trainee in Des Moines, Iowa three days after graduating from college. This position paid him $75 a month. He joined into the military for service in World War II. Walton joined the military in the U.S. Army Intelligence Corps, supervising security at aircraft plants and prisoner of war camps. In this position he served at Fort Douglas in Salt Lake City, Utah. He eventually reached the rank of captain.
In 1945, after leaving the military, Walton took over management of his first variety store at the age of 26. With the help of a $20,000 loan from his father-in-law, plus $5,000 he had saved from his time in the Army, Walton purchased a Ben Franklin variety store in Newport, Arkansas. It was here that Walton pioneered many concepts that became crucial to his success later on. Walton made sure the shelves were consistently stocked with a wide range of goods. His second store, the tiny "Eagle" department store, was down the street from his first Ben Franklin and next door to its main (Newport) competitor. Walton leased the space
mainly to preempt his competitor from expanding.
The success of Walton drew the attention of the landlord, P.K. Holmes, whose family had a history in retail. He wanted to reclaim the store (and franchise rights) for his son and refused to renew the lease. The lack of a renewal option, together with the prohibitively high rent of 5% of sales, were early business lessons to
Walton. Holmes bought the store's inventory and fixtures for $50,000.
Walton negotiated the purchase of a new location on the downtown square of Bentonville, Arkansas. Walton negotiated the purchase of a small store, and the title to the building, on the condition that he get a 99-year lease to expand into the shop next door. The owner of the shop next door refused 6 times, and his father-in-law, without Sam's knowledge, paid the shop owner a final visit and $20,000 to secure the lease. He had just enough left from the sale of the first store to close the deal, and reimburse his father-in-law. They opened for business with a one-day remodeling sale on May 9, 1950. Before he bought the Bentonville store, it was doing $72,000 in sales and it increased to $105,000 in the first year and then 140,000 and $175,000.
The new Bentonville "Five and Dime" opened for business. But 220 miles away, there was still a year left on the lease in Newport which Walton has to manage. Young Walton had to learn to delegate responsibility. After succeeding with two stores at such a distance, Sam became enthusiastic about scouting more locations and opening more Ben Franklin franchises.
In 1954, he opened a store with his brother Bud in a shopping center in Ruskin Heights, a suburb of Kansas City, Missouri. With the help of his brother, father-in-law, and brother-in-law, Sam went on to open many new variety stores. He encouraged his managers to invest and take an equity stake in the business, often as much as $1000 in their store, or the next outlet to open. (This motivated the managers to sharpen their managerial skills and take ownership over their role in the enterprise.) By 1962, along with his brother Bud, he owned 16 stores in Arkansas, Missouri, and Kansas (fifteen Ben Franklins and one independent, in Fayetteville).
The first true Wal-Mart opened on July 2, 1962 in Rogers, Arkansas. It was called the Wal-Mart Discount City store and located at 719 West Walnut Street. Soon after, the Walton brothers teamed up with the Stefan Dasbach, leading to the first of many stores to come. He launched a determined effort to market American-made products. Included in the effort was a willingness to find American manufacturers who could supply merchandise for the entire Wal-Mart chain at a price low enough to meet the foreign competition.
Contrary to the prevailing practice of American discount store chains, Walton located stores in smaller towns, not larger cities. To make his model work, he emphasized logistics, particularly locating stores within a day's drive proximity to Wal-Mart's regional warehouses, and distributed through its own trucking service. Buying in volume and efficient delivery permitted sale of discounted name brand merchandise. Thus, sustained growth— from 1977's 190 stores to 1985's 800— was achieved. At the time of death of Sam Walton in 1992, Walmart ad 1,960 stores.
Walton died on Sunday, April 5, 1992, of multiple myeloma, a type of blood cancer, in Little Rock, Arkansas. At the time, his company employed 380,000 people. Annual sales was nearly $50 billion.
Forbes ranked Sam Walton as the richest man in the United States from 1982 to 1988. He ceded the top spot to John Kluge in 1989 when the editors began to credit Walton's fortune jointly to him and his four children. Bill Gates first headed the list in 1992, the year Walton died.
Walmart operates in the U.S. and in 15 international markets, including Argentina, Brazil, Canada, Chile, China, Costa Rica, El Salvador, Guatemala, Honduras, India, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. At the University of Arkansas, the Business College (Sam M. Walton College of Business) is named in his honor. Walton was inducted into the Junior Achievement U.S. Business Hall of Fame in 1992.
History of Walmart - 1950 - 1990 - Video
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1895 Charles Jenkins patented a motion picture machine.
1895 Louis Lumiere patented a motion picture machine. Lumiere invented a portable motion-picture camera, film processing unit and projector called the Cinematographe, three functions covered in one invention.
March 24, World TB Day annual event commemorates the date in 1882 when Dr. Robert Koch announced his discovery of Mycobacterium tuberculosis, the bacillus that causes tuberculosis (TB).
Birthdays
Nobel Prize Winners
1884 - Petrus Josephus Wilhelmus Debye
1903 Adolph Friedrich Johann Butenandt
1917 - John Cowdrey Kendrew
1926 - Dario Fo
Others
1926 - Martin Shubik - Political economics and Game Theory
1850 Karl Ferdinand Braun Physics
1918 Edwin G. Krebs Medicine
1933 Heinrich Rohrer Physics
1943 Richard E. Smalley Chemistry
1944 Phillip A. Sharp Medicine
1884 Otto Fritz Meyerhof - Medicine
1903 Jan Tinbergen - Economics
Patents
1988 Leder and Stewart on behalf of Harvard University were issued the first patent #4,736,866 for a new animal life form - a genetically altered mouse.
1800 -Alessandro Volta dated a letter announcing his invention of the voltaic pile to Sir Joseph Banks, president of the Royal Society, London.
1883 - , Jan Matzeliger was issued a U.S. patent for his shoe “Lasting-Machine” (No. 274,207). It provided step-by-step lasting and tacking of a shoe in the same way as the hand method, but much more efficiently.
1886- America's first demonstration of the alternating-current system provided lighting along Main Street at Great Barrington, Massachusetts.
1900 - Nikola Tesla received a patent for the wireless transmission of electric power (No. 645,576).
1916 - Albert Einstein's Theory of General Relativity was published as an academic paper in Annalen der Physik 49, 769, titled “Die Grundlagen der allgemeinen Relativitästheorie.”
1934 - The first test of a practical radar apparatus was made by Rudolf Kuhnold in Kiel Harbour, Germany. Kuhnold was Chief of the German Navy Signals Research Department.
Manufacturing management came into existence only after the development of factory system. Large number of people were employed in armies, church activities and construction activities before. But large number of people were not employed in manufacturing activities till the emergence of factory system of production which employed machines driven by steam and hydraulic power.
The series of events that resulted in factory system occurred largely in England during 1770 to early 1800. Eight inventions were responsible for this.
Source; Manufacturing Organization and Management, Fourth Edition,
Harold Amrine, John A. Ritchey, Oliver S. Helley
Charles Babbage
The work of Charles Babbage, On the Economy of Machinery in Manufacturing can be cited as the first book related to manufacturing management.
Frederick W. Taylor
Taylor's paper on "A Piece Rate System" dealth with payments to workers of factories. His paper "Shop Management" published in 1903 is totally devoted to manufacturing management. He published "The Principles of Scientific Management" in 1911 and this is also a contribution in the area of manufacturing management.
