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3001.
My comrade and I had been quartered in Jamaica, and from there we had been drafting off to the British settlement of Belize, lying away West and North of the Mosquito coast. At Belize there had been great alarm of one cruel gang of pirates (always more pirates than enough in those Caribbean Seas), and as they got the better of our English cruisers by running into out-of-the-way creeks and shallows, and taking the land when they were hotly pressed, the governor of Belize had received orders from home to keep a sharp look-out for them along shore. Now, there was an armed sloop came once a year from Port Royal, Jamaica, to the Island, laden with all manner of necessaries to eat, and to drink, and to wear, and to use in various ways; and it was aboard of that sloop which had touched at Belize, that I was standing, leaning over the bulwarks.
The Island was occupied by a very small English colony. It had been given the name of Silver-Store. The reason of its being so called, was, that the English colony owned and worked a silver-mine over on the mainland, in Honduras, and used this Island as a safe and convenient place to store their silver in, until it was annually fetched away by the sloop. It was brought down from the mine to the coast on the backs of mules, attended by friendly local people and guarded by white men; from thence it was conveyed over to Silver-Store, when the weather was fair, in the canoes of that country; from Silver-Store, it was carried to Jamaica by the armed sloop once a-year, as I have already mentioned; from Jamaica, it went, of course, all over the world.
How I came to be aboard the armed sloop, is easily told. Four-and-twenty marines under command of a lieutenant - that officer‘s name was Linderwood - had been told off at Belize, to proceed to Silver-Store, in aid of boats and seamen stationed there for the chase of the Pirates. The Island was considered a good post of observation against the pirates, both by land and sea; neither the pirate ship nor yet her boats had been seen by any of us, but they had been so much heard of, that the reinforcement was sent. Of that party, I was one. It included a corporal and a sergeant. Charker was corporal, and the sergeant‘s name was Drooce. He was the most tyrannical non-commissioned officer in His Majesty‘s service.
The night came on, soon after I had had the foregoing words with Charker. All the wonderful bright colours went out of the sea and sky in a few minutes, and all the stars in the Heavens seemed to shine out together, and to look down at themselves in the sea, over one another‘s shoulders, millions deep.
Next morning, we cast anchor off the Island. There was a snug harbour within a little reef; there was a sandy beach; there were cocoa-nut trees with high straight stems, quite bare, and foliage at the top like plumes of magnificent green feathers; there were all the objects that are usually seen in those parts, and I am not going to describe them, having something else to tell about.
Great rejoicings, to be sure, were made on our arrival. All the flags in the place were hoisted, all the guns in the place were fired, and all the people in the place came down to look at us. One of the local people had come off outside the reef, to pilot us in, and remained on board after we had let go our anchor.
My officer, Lieutenant Linderwood, was as ill as the captain of the sloop, and was carried ashore, too. They were both young men of about my age, who had been delicate in the West India climate. I thought I was much fitter for the work than they were, and that if all of us had our deserts, I should be both of them rolled into one. (It may be imagined what sort of an officer of marines I should have made, without the power of reading a written order. And as to any knowledge how to command the sloop—Lord! I should have sunk her in a quarter of an hour!)
However, such were my reflections; and when we men were ashore and dismissed, I strolled about the place along with Charker, making my observations in a similar spirit.
It was a pretty place: in all its arrangements partly South American and partly English, and very agreeable to look at on that account, being like a bit of home that had got chipped off and had floated away to that spot, accommodating itself to circumstances as it drifted along. The huts of the local people, to the number of five- and-twenty, perhaps, were down by the beach to the left of the anchorage. On the right was a sort of barrack, with a South American Flag and the Union Jack, flying from the same staff, where the little English colony could all come together, if they saw occasion. It was a walled square of building, with a sort of pleasure-ground inside, and inside that again a sunken block like a powder magazine, with a little square trench round it, and steps down to the door.
Charker and I were looking in at the gate, which was not guarded; and I had said to Charker, in reference to the bit like a powder magazine, "That‘s where they keep the silver you see;" and Charker had said to me, after thinking it over, "And silver ain‘t gold. Is it, Gill?"[1] Find out the TRUE statement:
A. During the time of the narration, the total number of pirates at Belize was much more than the same in the Caribbean Seas.
B. From the accounts presented here, when the narrator of the passage made the journey he already happened to be an experienced sailor with considerable navigating experiences.
C. The author and his friends used to consider Drooce as the most authoritarian non- commissioned officer in Her Majesty‘s service.
D. While walking with Charker, the narrator came across a barrack like structure where all the English settlers could assemble and stay together, if there was any necessity for doing so.[2] Find out the FALSE statement:
A. According to the passage, the silver that was being stored in the place where the author went to was being mined in Honduras.
B. The narrator noted that the silver was being transported from the mine to the coast on the backs of mules, after which it was being sent to Jamaica in a sloop, from where it was reaching various destinations.
C. Although the sea-voyage near Belize was being threatened by the presence of one notorious pirate fleet, the captain of the patrolling ship was accompanied by less than thirty soldiers.
D. The Island the author talks here about was considered to be a good point for surveillance against the pirates both by land and sea.[3] Find out the TRUE Statement:
A. The author was initially staying in Jamaica, which is located in the West and North of the Mosquito coast.
B. A casual review of the place by the narrator revealed that the store for keeping the silver was heavily guarded, fearing a possible pirate attack anytime.
C. The narrator and his companion noticed the South American Flag and the Union Jack flying on the port office.
D. When the ship entered the harbour, both it‘s Captain and Lieutenant Linderwood was unwell as the West Indian climate was not suiting them.[4] Mark the FALSE statement:
A. It was being difficult to capture the pirates because they either used to hide in uncommon waters whenever the patrolling ships were pursuing them or used to disembark and flee whenever severely chased.
B. The local canoes were employed by the miners to bring the silver from the coast to the island during favorable climatic condition.
C. The lifestyle of the island was not exactly British as it had to adjust itself with the local South American culture, but the same seemed quite delightful for the narrator and his company.
D. When Corporal Charker and Sergent Gill were walking around the harbour, they noticed that the size of the settlement of the local people was not very large.asked in IIFT
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3002.
Turning the business involved more than segmenting and pulling out of retail. It also meant maximizing every strength we had in order to boost our profit margins. In reexamining thee direct model, we realized that inventory management was not just a core strength; it could be an incredible opportunity for us, and one that had not yet been discovered by any of our competitors.
In Version 1.0 the direct model, we eliminated the reseller, thereby eliminating the markup and the cost of maintaining a store. In Version we went one step further to reduce inventory inefficiencies. Traditionally, a long chain of partners was involved 1irgettIn customer. Let‘s say you have a factory building a PC we‘ll call model #4000. The system is then sent to the distributor, which sends it to the warehouse, which sends it to the dealer, who eventually pushes it on to the consumer by advertising, "I‘ve got model #4000. Come and buy it." If the consumer says, "But I want model #8000," the dealer replies, "Sorry, I only have model #4000." Meanwhile, the factory keeps building model #4000s and pushing the inventory into the channel.
The result is a glut of model #4000s that nobody wants. Inevitably, someone ends up with too much inventory, and you see big price corrections. The retailer can‘t sell it at the suggested retail price, so the manufacturer loses money on price protection (a practice common in our industry of compensating dealers for reductions in suggested selling price). Companies with long, multi-step distribution systems will often fill their distribution channels with products in an attempt to clear out older targets. This dangerous and inefficient practice is called ―channel stuffing‖ Worst of all, the customer ends up paying for it by purchasing systems that are already out of date.
Because we were building directly to fill customers‘ orders, we didn‘t have finished goods inventory devaluing on a daily basis. Because we aligned our suppliers to deliver components as we used them, we were able to minimize raw material inventory. Reductions in component costs could be passed on to our customers quickly, which made them happier and improved our competitive advantage. It also allowed us to deliver the latest technology to our customers faster than our competitors.
The direct model turns conventional manufacturing inside out. Conventional manufacturing because your plant can‘t keep going. But if you don‘t know what you need to build because of dramatic changes in demand, you run the risk of ending up with terrific amounts of excess and obsolete inventory. That is not the goal. The concept behind the direct model has nothing to do with stockpiling and everything to do with information. The quality of your information inversely amount of assets required, in this case excess inventory. With less information about customer needs, you need massive amounts of inventory. So, if you have great information – that is, you know exactly what people want and how much - you need that much, less inventory. Less inventory, of course, corresponds to less inventory depreciation. In the computer industry, component prices are always falling as suppliers introduce faster chips, bigger disk drivers and modems with ever-greater bandwidth. Let‘s say that Dell has six days of inventory. Compare that to an indirect competitor who has twenty-five days of inventory with another thirty in their distribution channel. That‘s a difference of forty-nine days; and in forty-nine days, the cost of materials will decline about 6 percent.
Then there‘s the threat of getting stuck with obsolete inventory if you‘re caught in a transition to a next-generation product, as we were with those memory chip in 1989. as the product approaches the end of its life, the manufacturer has to worry about whether it has too much in the channel and whether a competitor will dump products, destroying profit margins for everyone. This is a perpetual problem in the computer industry, but with the direct model, we have virtually eliminated it. We know when our customers are ready to move on technologically, and we can get out of the market before its most precious time. We don‘t have to subsidize our losses, by charging higher prices for other products.
And ultimately, our customer wins. Optimal inventory management really starts with the design process. You want to design the product so that the entire product supply chain, as well as the manufacturing process, is oriented not just for speed but for what we call velocity. Speed means being fast in the first place. Velocity means squeezing time out of every step in the process.
Inventory velocity has become a passion for us. To achieve maximum velocity, you have to design your products in a way that covers the largest part of the market with the fewer number of parts. For example, you don‘t need nine different disk drives when you can serve 98 percent of the market with only four. We also learned to take into account the variability of the lost cost and high cost components. Systems were reconfigured to allow for a greater variety of low-cost parts and a limited variety of expensive parts. The goal was to decrease the number of components to manage, which increased the velocity, which decreased the risk of inventory depreciation, which increased the overall health of our business system.
We were also able to reduce inventory well below the levels anyone thought possible by constantly challenging and surprising ourselves with the result. We had our internal skeptics when we first started pushing for ever-lower levels of inventory. I remember the head of our procurement group telling me that this was like "flying low to the ground 300 knots." He was worried that we wouldn‘t see the trees.
In 1993, we had $2.9 billion in sales and $220 million on in inventory. Four years later, we posted $12.3 billion in sales and had inventory of 33 million. We‘re now down to six days of inventory and we‘re starting to measure it in hours instead of days. Once you reduce your inventory while maintaining your growth rate, a significant amount of risk comes from the transition from one generation of product to the next. Without traditional stock of inventory, it is critical to precisely time the discontinuance of the older product line with the ramp-up in customer demand for the newer, one. Since we were introducing new products all the time, it became imperative to avoid the huge drag effect from mistakes made during transitions. ―excess and obsolete‖ - became taboo at Dell. We would debate about whether our E[1] Find out the TRUE statement:
A. According to the passage, the working of the direct model was being heavily exploited by all players in the software business.
B. Analysis of the supply chain of the product reveals that the product is sent to the warehouse by the dealer, and any delay at that stage leads to an obvious increase in cost.
C. The nature of the computer industry is such that the production decision at factory level is usually undertaken after getting the customer demand feedback from the distributors.
D. Whenever the production of some old-fashioned model of a product by a company exceeds the existing demand, the market forces create a downward pressure on its prices.[2] Find out the FALSE statement:
A. The company mentioned in the passage could attain efficiency on raw material inventory management because they were procuring components only in line with their timely requirement.
B. Generally the more the amount of quality information about the consumer needs and the market a firm possess, the less is its inventory requirement.
C. In order to serve the market more efficiently, the firm mentioned here reconfigured their computers with increased proportion of low-cost parts and a fewer types of high-priced parts.
D. The conventional manufacturing system always ensured that no competitor can lower prices to reduce profit margins for everybody.[3] Choose the option which best matches the following sets:
1. Inventory
2. Conventional Manufacturing
3. Distributor
4. Market
i. Precarious
ii. Warehouse
iii. Stockpile
iv. Velocity
A. 1 – iv, 2 – ii, 3 – i, 4 – iii
B. 1 – iii, 2 – i, 3 – iv, 4 – ii
C. 1 – iv, 2 – iii, 3 – ii, 4 – i
D. 1 – iii, 2 – ii, 3 – iv, 4 – i[4] Find out the FALSE Statement:
A. Having less amount of inventory is better in the computer industry as with time better quality components with enhanced capacity reach the market with lower price.
B. Before improving the inventory management system under the direct model, the firm first removed the reseller from its marketing model, which contributed in its cost-cutting attempt.
C. The efficient inventory management allowed the firm to enhance productivity as well as the flexibility to enter or exit a market.
D. The companies with long distribution network incorporate information- gathering process within their systems which enable them to market products with latest available technologies.asked in IIFT
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3003.
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3004.
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3005.
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3006.