Physical Distribution

In: Business and Management

Submitted By luvlymeg
Words 3023
Pages 13
Standard deviation http://en.wikipedia.org/wiki/Standard_deviation, From Wikipedia, the free encyclopedia

In probability and statistics, the standard deviation of a probability distribution, random variable, or population or multiset of values is a measure of the spread of its values. It is usually denoted with the letter σ (lower case sigma). It is defined as the square root of the variance.
To understand standard deviation, keep in mind that variance is the average of the squared differences between data points and the mean. Variance is tabulated in units squared. Standard deviation, being the square root of that quantity, therefore measures the spread of data about the mean, measured in the same units as the data.
Said more formally, the standard deviation is the root mean square (RMS) deviation of values from their arithmetic mean.
For example, in the population {4, 8}, the mean is 6 and the deviations from mean are {-2, 2}. Those deviations squared are {4, 4} the average of which (the variance) is 4. Therefore, the standard deviation is 2. In this case 100% of the values in the population are at one standard deviation of the mean.
The standard deviation is the most common measure of statistical dispersion, measuring how widely spread the values in a data set are. If the data points are close to the mean, then the standard deviation is small. As well, if many data points are far from the mean, then the standard deviation is large. If all the data values are equal, then the standard deviation is zero.
For a population, the standard deviation can be estimated by a modified standard deviation (s) of a sample. The formulas are given below.

Given a random variable (in blue), the standard deviation σ is a measure of the spread of the values of the random variable away from its mean μ.

|Contents…...

Similar Documents

Distribution

...high-tech merchandize, automobiles and seasonal items that become obsolete rapidly. 9. Purchasing / Procurement Most Industries 40 – 60% Activities such as supplier selection, negotiation – price/terms/quantities – supplier quality assessment. Has grown in importance 10. Return Goods Handling - Receiving greater attention today May take place when problems arise with the performance of the product. – or a customer may simply change his mind. Complex issue – involves moving small quantities of goods from customer rather than to the customer. Costs sometimes nine times > than when reaching goods to Customer. 11. Reverse Logistics Involved in renewal and disposal of waste materials left over from the production, distribution or packaging processes. These could be temporary storage, followed by transportation to the disposal, reuse, reprocessing or recycling location. The last two gaining greater attention these days. 12. Parts & Service Support After Sale – includes delivery of repair parts to dealers, stocking adequate spares, picking up defective or malfunctioning products from customers. Responding quickly to demands for repairs. 13. Logistics Communication Key to any effective functioning system – key source of competitive advantage. L interfaces with wide array of functions in its communication process. Between: Organization and its suppliers/service providers, customers Major functions within the organization, such as L,......

Words: 571 - Pages: 3

Distribution

...[pic] ASSIGNMENT ON DISTRIBUTION CHANNEL FOR MILK AND FLOWER Submitted by: Distribution Channel for Milk Milk-Marketing System Eighty percent of milk is marketed through the highly fragmented unorganized sector, which includes local milk vendors, wholesalers, retailers, and producers themselves. On the other hand, the organized dairy industry, which accounts for about 20 percent of total milk production, comprises two sectors: government and co-operatives. Even though co-operatives provide a remunerative price to the producer, the unorganized sector plays a major role in milk marketing because of three factors. The first factor is the pricing policy of the co-operatives: their purchase price is based on the fat content of the milk, whereas the private sector pays a flat rate per liter of milk. The second factor, which motivates the milk producers to sell milk to private vendors, involves the type of milk animals reared by the producer. Crossbred cows yield more milk with a lower fat than do buffalo. The crossbred cow population has increased over years because of artificial insemination and improvements in management practices. The third factor is payment policy. The private sector can pay their producers every day, whereas the co-operatives pay weekly or fortnightly. Producers sometimes have to fight with the co-operatives to get their......

Words: 1234 - Pages: 5

Distribution Marketing

...the largest producers of plastic products in Bangladesh. PPL mission is to become an internationally recognized manufacturer of plastic products. Distribution Channel: The path through which goods and services travel from the vendor to the consumer or payments for those products travel from the consumer to the vendor. A distribution channel can be as short as a direct transaction from the manufacturer to the consumer, or may include several interconnected intermediaries along the way such as wholesalers, distributors, agents and retailers. In Partex Beverage Limited they are using both direct and in indirect channel. They have 290 indirect channels and some direct channel. In direct channels are distributing the products all over the Bangladesh and direct channels are distributed Dhaka and its surrounding places. Channel Design Sequence and Selection criteria: Managers frequently complain about a lack of communication between their marketing and sales executives, often caused by a poorly designed or implemented distribution channel strategy. A well-designed distribution channel strategy takes into account both the salespeople's activities with channel partners and the marketing managers' efforts to better reach and serve end-users. Channel design is creating a totally new channel or modifying an existing channel of distribution structure. There are eleven steps involved in creating a channel design. Partex Beverage is following all the eleven steps of creating a......

Words: 2684 - Pages: 11

Physical

...Associate Level Material Physical Fitness Worksheet Being physically fit is an important aspect of obtaining optimal health. Becoming knowledgeable about what it means to be physically fit may greatly increase your ability to improve your health and wellness. In this worksheet, you identify the five components of health related fitness. Completing this assignment is a step towards gaining the knowledge needed to better manage your physical fitness. Five Components of Health Related Fitness Table Complete the table below. The first row has been filled in for you as an example. |Components of Physical Fitness |Description |How to Incorporate in Your Life|Benefit(s) | |Cardiorespiratory Fitness |Being able to exercise at a |Walk 2 miles at a brisk pace |Reduced the risk of heart | | |moderate to high intensity for|every day. |disease, hypertension, and | | |a long period of time | |high cholesterol. | |Muscular Strength |The ability of muscle to exert|Using your own body weight by |Improve general muscle fitness| | |force repeatedly without |doing Push ups,Pullups, Sit ups|and muscle tone Helps maintain| | |fatiguing | ...

Words: 259 - Pages: 2

Distribution

...LINK BROJ 3, CITIRAJ U LITERATURI ! 2.2.2 Directs Sales The direct model refers to the fact that Dell does not use the retails channel, but sells its PCs directly to customers through its website, Dell.com, as Figure 4 shows. This way the intermediary steps that may add time and cost are eliminated, and Dell is directly linked to its customers. Figure 4: Distribution channel of Dell vs. a traditional company [31] In fact, Dell sells directly to all its customers, “from home-PC users to the world’s largest corporations” [54]. This way it creates a direct relationship with each individual customer, which turns out to be a great source of competitive advantage. As Michael Dell has stated, this direct relationship “creates valuable information” about the customer, thus Dell knows who the end users are, what they have bought from Dell and what their preferences are, a fact that allows Dell to offer add-on products and services, and stay, in general, closer to the customer [27]. As Lawton et al [29] suggest, this “provides Dell with a wealth of marketing and product development information”. Dell distinguishes three rough customer segments: large organizations (large companies or government institutions), small and medium businesses, and personal consumers; the mix of customers served is wide (no customer represents more than 1-2% of Dell’s revenues) and there is a focus on large customers (70% of Dell’s......

Words: 1242 - Pages: 5

Distribution

...September 2003 From supplier to store For IKEA, distribution is an important part of the equation of creating home furnishing articles at prices which are as low as possible. Today approximately 10,000 IKEA products are manufactured by 1,600 suppliers and transported to 186 IKEA stores around the world, often via one of the company’s 27 central warehouses and distribution centres. At IKEA, distribution is all about making the route from the manufacturer to the customer as short as possible. In the early days of IKEA, the “warehouse” was a shed on Elmtaryd Farm in the south of Sweden where the founder of the company, Ingvar Kamprad, lived with his parents. In those days products were despatched from Elmatryd with the help of the county milk van that visited the farm each day. Things have changed a bit since then, however. Today IKEA operates 27 distribution centres in a total of 16 countries. From here IKEA products are delivered to 186 stores around the world – 165 IKEA Group stores and a further 21 stores operated by other franchisees. IKEA works in various ways not only to rationalise and simplify distribution, but also to minimise the impact this part of the business has on the environment. The secret is to calculate as exactly as possible how many products will be needed to satisfy demand. This eliminates any unnecessary costs for production and warehousing. The hallmarks of IKEA distribution are: – a global distribution network – large volumes – flat packages – low......

Words: 543 - Pages: 3

Ensuring More Efficient Marketing of Petroleum Product; the Role of Physical Distribution

...THE ROLE OF PHYSICAL DISTRIBUTION A Graduate Seminar Paper Submitted to the Department of Marketing Faculty of business administration University of Nigeria Enugu Campus In partial fulfillment of the requirements for the degree Master of Business Administration (MBA) Graduate seminar (MKT 803) By Onah Godfrey C. PG/MBA/12/62555 AUGUST 2014 APPROVAL PAGE This review by: GODFREY. C. ONAH Titled: Ensuring efficient marketing of petroleum product; the role of physical distribution Has been approved for meeting the research requirement for the award of Degree of master of Business Administration (MBA) in Marketing Prof. Ogwo E. Ogwo Date Approved SupervisorProf. Ugwuonah | Date Approved Head, Department of Marketing | INTRODUCTION The marketing of petroleum products in Nigeria has been inefficient and has faced a lot of problems over the years. Therefore this paper examines the role of physical distribution and how it can help to ensure greater efficiency in the marketing of petroleum products. We shall be reviewing the problems of inefficiency in the marketing of petroleum products in Nigeria, the essence or thrust of physical distribution in marketing, and how physical distribution can help......

Words: 5231 - Pages: 21

Physical

...Throughout history, research in the physical sciences has often been limited by our abilities of safely observing and studying the very phenomenon in question. As we make technological progress, we have increasingly more tools to expand our observational capabilities.   Write a three to five (3-5) page paper in which you: Part 1: Procedures in the Physical Sciences: Challenges in Measurements •Identify three (3) specific challenges to making direct measurements in the fields of astronomy, chemistry, physics, or earth science. Describe how scientists have utilized indirect forms of measure to overcome these challenges. 2. Choose two (2) of the most historically influential tools or techniques in the physical sciences.  Explain how these techniques or tools work, and how they helped to advance our understanding of the physical sciences. Part 2: Procedures in the Physical Sciences: A Survey of Safety 3. Choose one (1) hazard associated with research in the physical sciences. Discuss how protective gear or equipment might be used to mitigate the hazard, as well as its efficacy. 4. Describe the ways in which advancements in the physical sciences might impact the safety of the global community. Assess any special considerations for regulating this research.  Part 3: Documentation 5. Use at least four (4) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. The body of the paper must have......

Words: 425 - Pages: 2

Distribution

...flow of supplies into, through and out of an organization to achieve a level of service which ensures that the right materials are available at the right place at the time in the right quantity and quality and at the right cost. * Material Management is responsible for purchasing the highest quality equipment and products at the lowest possible cost for the organization.  4.  supply management describes the methods and processes of modern corporate or institutional buying. This may be for the purchasing of supplies for internal use referred to as indirect goods and services, purchasing raw materials for the consumption during the manufacturing process, or for the purchasing of goods for inventory to be resold as products in the distribution and retail process. * Supply management deals primarily with the oversight and management of materials and services inputs, management of the suppliers who provide those inputs, and support of the process of acquiring those inputs. The performance of supply management departments and supply management professionals is commonly measured in terms of amount of money saved for the organization 5. Flow production involves a continuous movement of items through the production process. This means that when one task is finished the next task must start immediately.  Therefore, the time taken on each task must be the same.  * involves the use of production lines such as in a car manufacturer where doors, engines, bonnets and......

Words: 2103 - Pages: 9

Chapter 12 Global Marketing Channels and Physical Distribution

...CHAPTER 12 GLOBAL MARKETING CHANNELS AND PHYSICAL DISTRIBUTION SUMMARY A channel of distribution is the network of agencies and institutions that links producers with users. Physical distribution is the movement of goods through channels. Business –to-consumer marketing uses consumer channels; business-to-business marketing employs industrial channels to deliver products to manufacturers or other types of organizations. Peer-to-peer marketing via the Internet is another channel. Distributors and agents are key intermediaries in both channel types. Channel decisions are difficult to manage globally because of the variation in channel structures from country to country. Marketing channels can create place utility, time utility, form utility, and information utility for buyers. The characteristics of customers, products, middlemen, and environment all affect channel design and strategy. Consumer channels may be relatively direct, utilizing direct mail or door-to-door selling, as well as manufacturer-owned stores. A combination of manufacturers' sales force, agents-brokers, and wholesalers may also be used. Global retailing is a growing trend as successful retailers expand around the world in support of growth objectives. Retail operations takes many different forms, including department stores, specialty retailers, supermarkets, convenience stores, discount stores, warehouse clubs, hypermarkets, supercenters, category killers, and outlet malls. Selection, price...

Words: 6820 - Pages: 28

Distribution

...week 4 Distribution Randy Weatherford University of Phoenix week 4 Distribution Channels of distribution of sales for designer jeans for Starbucks new Starbutts. The key for distribution is to align the manufacture to the sales, shortest point where the manufacturer to the customer purchasing the product. First, Starbucks will assess the competitors line of product to identify all channels of categories so Starbucks can identify their where they can be successful. Competitors' distribution channels. As a starting point, make a list of any competitors that could compete directly with you for the same customers. Then divide these competitors into categories based on the distribution channels they currently use. The result will be a picture of which channels are being successfully used in your type of business and location. (2015, p. 1) The lines of distribution are as follows, first of all direct lines to currently own retail outlets, wholesale outlets, Direct mail through flyers or catalogs, telemarketing, Cyber marketing, and cable or TV advertisement. Each of these avenues provide value to the sale of the product. The wholesale and retail outlets provide a direct link between the customer and the manufacture but this can be the more expensive direction because the products provided are manufactured and shipped to the retail stores without orders in place. Direct mail through catalog or flyers provide the customers the options and saves Starbucks the capitol......

Words: 512 - Pages: 3

Physical

...Physical fitness is a necessity for everyone regardless of race, culture, or sex in order to live a long healthy life. In order to achieve physical fitness, you must be able to perform daily tasks vigorously, while avoiding diseases related to a lack of activity. There are many benefits of physical fitness like endurance, good figure, muscular strength, and flexibility. Some mental benefits include a positive attitude, high self-esteem, and the production of endorphins, which act as a natural painkiller. There have been many benefits of physical activity, which were always praised throughout history. It was not until the 1970s, that enough information was available on physical fitness. The American College of Sports Medicine and the American Heart Association has since begun issuing physical activity recommendations to the public. Some of these recommendations include cardio-respiratory exercises and sustained periods of vigorous activity. The past several years the ACSM, CDC, AHA, PCPFS, and NIH have also recommended regular, moderate physical activity. There are also risks involved with physical activity. The most common health problem related to physical activity is muscle and skeletal injury. These injuries can occur with almost any amount of exercise when the body is not conditioned. Flexibility and the proper education associated with these exercises are usually over looked. Some of the more serious risks associated with physical activity include heart attacks......

Words: 291 - Pages: 2

Physical

...run or do they want immediate results Discuss the view that the impact of volcanic hazards depends primarily on physical factors. (40 marks) Volcanic events vary in size frequency and type around the world but it can be argued that these physical factors cause the greatest impact as they are uncontrollable and create the ‘initial’ impact which we can only manage and are therefore what causes the impact. On the other hand it could be said that there are many factors which affect the impacts, both human and physical. As stated it could be argued that physical factors are what the impact of volcanic events depends primarily on, because these are the factors behind the event. The eruption of Iceland for example in 2010 had 2 phases both physically very different. On March 20th the first eruption began lasting for 6 weeks; it gained little interest from the rest of the worldwide media as the eruption was not dominated by explosive events and caused little impact to the rest of the world. This was due to the low viscous nature of the lava allowing trapped gas bubbles to escape, this also produced little ash. In contrast with the second phase on April 14th which caused a great impact globally, but mainly to Northern Europe. The physical factors which caused the impact to be so great was the high viscosity of the lava coupled with the fact that the volcano was ice capped, this produce vast amounts of ash......

Words: 2036 - Pages: 9

Physical Distribution

...CONTENTS 1. MEANING-PHYSICAL DISTRIBUTION 2. A SYSTEM APPROACH (COMPONENTS) 3. COMPONENTS :- TRANSPORTATION i. MEANING ii. FUNCTIONS iii. MODES – MEANING,FEATURES,ADVANTAGES & DISADVANTAGES * ROAD * RAIL * WATER * AIR PHYSICAL DISTRIBUTION MEANING: Physical distribution is the set of activities concerned with efficient movement of finished goods from the end of the production operation to the consumer. Physical distribution takes place within numerous wholesaling and retailing distribution channels, and includes such important decision areas as customer service, inventory control, materials handling, protective packaging, order procession, transportation, warehouse site selection, and warehousing. Physical distribution is part of a larger process called "distribution," which includes wholesale and retail marketing, as well the physical movement of products. Physical distribution activities have recently received increasing attention from business managers, including small business owners. This is due in large part to the fact that these functions often represent almost half of the total marketing costs of a product. In fact, research studies indicate that physical distribution costs nationally amount to approximately 20 percent of the country's total gross national product (GNP). These findings have led many small businesses to expand their cost-cutting efforts beyond their historical focus on......

Words: 3172 - Pages: 13

Warehouse and Distribution

...Supply Support: Warehousing and Distribution Chris Scott and Arni Jonsson Oklahoma State University Aviation Logistics AVED 4153 Dr. Jerry McMahan February 22, 2012 Abstract Supply support is only one of the 10 elements in logistics. Warehouse is just a part of supply support. The purpose of warehousing is to move goods from suppliers to customers, while meeting the customer’s demands in a timely manner. Things involved in warehousing are receiving of material, storage of material, inventory of material, packaging of material, and the manpower needed to perform the tasks along with the equipment. You also need to consider the training needed for these jobs and for the equipment involved in the jobs. There are a lot of important steps in warehousing in order to keep the customer satisfied. Everything must be done correctly to save time and to keep track of all material. Introduction Warehousing is a big part of logistics. Warehousing as many different responsibilities and functions. What is involved in warehousing is not only storage, which is what most people think. There is a lot more to it than that. Warehousing involves receiving material, storing material, inventorying material, picking material, packaging and shipping material. It also involves training to do these things plus training to operate the equipment required to accomplish the things listed above. Safety is also a big issue in warehousing...

Words: 5102 - Pages: 21