ECO803 - International Trade and Logistics - Economics Assignment Help

Assignment Task :

SECTION 1 - LONG ANSWER Answer the question below in approx. 800 words.

1 Choose a product, as well as an importer and an exporter, and determine what would be the ideal Incoterms® rule for a transaction. Make as many assumptions as necessary to justify your decision.

CASE STUDY Read the Case Studies and answer the questions below in approx.

1 Pete's Peanuts Snacks is a large processor of peanuts based in Albany, Georgia. Pete's major products are roasted (plain and salted) peanuts distributed in 6-ounce bags and 18- ounce cans. Pete's dominant market position is a result of its emphasis freshness and availability at stores. Pete's product development department recently created a new peanut product that is spicy flavored. It was also able to reduce the amount of cholesterol and salt in its peanuts, thus making the peanuts a more healthful snack. However, the new flavor also shortened the shelf life of the products. Pete's marketing department decided to launch the new peanut product on month before the NCAA basketball playoffs. Advertisements were scheduled on television, on billboards, on Facebook, and in newspaper circulars three weeks before the Final Four weekend. A sweepstakes contest was also proposed that would award the contest winner free trip for two to next year's Final Four. Each can of the cinnamon peanuts contained an insert with a serial number that could be matched with the winning number on Pete's Web site. To meet the estimated initial demand for the new product, manufacturing started making product two months before the introduction. Demand for the week preceding the Final Four games was estimated to be 3 million 18-ounce cans. Demand following the Final Four games was estimated to be 1 million cans per week. Manufacturing capacity for the new product is 1 million cans per week. Pete's price per can to its retail customers would be $2.50, which would allow for a gross margin of $1.25 per can. Pete's cost to produce each can is $0.85. Inventory carrying costs per can are $0.10. Pete's finance department was concerned that the heavy promotion and high build -up of inventories would eliminate almost all of the profit Pete's would make on each can. Their directive to the product manager was that the product had to maintain its profit, or it would be pulled from the market. [30.00 marks] a. What interactions and discussion need to take place among the marketing, manufacturing, logistics, and finance departments? Explain the logistics department role in the introduction of the new product. [15 Marks] b. Why is it necessary for the logistics department to be cognisant of all the details (quantity, timing) of the new product introduction? Discuss the issues that might arise (e.g., the drop in demand after the Final Four) and what responsibilities the logistics department would have as a result of these changes.

2 Could Brexit spell the end for just-in-time production? We all know that Brexit poses challenges, but the technical detail is often poorly understood. One problem you may not have heard of relates to “just in time” production. And it’s a big one. Throughout the UK, industries are deeply interconnected with those in the rest of the European Union through complex cross-border supply chains. Such supply chains comprise intricate processes of value-adding by firms in different countries, with component goods and services crisscrossing borders multiple times before reaching the consumer. The most deeply embedded and integrated of all supply chains are those which are known as just-in-time (JIT) supply chains. These production systems first originated in the Japanese automotive and electronics sectors, and are now widespread across whole areas of UK manufacturing, engineering, retail and consumer goods markets, and especially those sectors highly integrated with the rest of Europe. In JIT supply chains, firms hold little or no inventories. Supplies are delivered in very small quantities at very high frequencies from suppliers which are located in nearby regions or countries. As well as reducing costs, a key advantage of such JIT systems is maximising product and service quality. JIT systems allow for errors in production or machining to be identified immediately and for problems to be rectified as they arise, thereby ensuring maximum quality and ultra-cost-efficiency. Many thousands of UK firms depend critically on JIT

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