The Functions of the Deutsche Bundesbank - Free Essay Example

Sample details Pages: 3 Words: 750 Downloads: 9 Date added: 2017/09/21 Category Advertising Essay Type Argumentative essay Did you like this example? THE FUNCTIONS OF THE DEUTSCHE BUNDESBANK 1. The bank of issue Only the Bundesbank is entitled to issue banknotes denominated in Deutsche Mark (monopoly of the issue of banknotes). These banknotes are the only legal tender for any amount in Germany. Any person to whom money is owed must accept them in unlimited amounts in settlement of his claim. Coins, by contrast, are legal tender to only a limited extent. The banknotes issued by the Bundesbank therefore constitute the foundation of the German monetary system. They are used by all economic agents for the smooth and often cost-effective settlement of payments. Commercial banks, which offer their customers â€Å"cash substitutes† in the form of giro balances that the customers can draw upon by, say, cheque or credit transfer, are likewise ultimately dependent on the notes provided by the central bank since their customers may withdraw cash from their accounts at any time. At present the Bundesbank is issuing eight di fferent denominations of banknotes: DM 5, DM 10, DM 20, DM 50, DM 100, DM 200, DM 500 and DM 1,000. In addition to the banknotes, the Bundesbank puts coins denominated in Deutsche Mark or pfennig into circulation. 2. The bankers bank The Bundesbanks special status as the â€Å"bankers bank† derives from the fact that credit institutions are to a certain extent dependent on a supply of central bank balances (in other words, sight deposits with the central bank which can be exchanged for currency at any time). Only by means of recourse to central bank money can the solvency of the entire banking system be ensured. This is partly because – as mentioned earlier – bank customers generally ask for some of the credits granted to them or some of their sight deposits with banks to be paid out in Bundesbank notes, which commercial banks, in turn, can obtain only from the central bank. Credit institutions also keep balances at the Bundesbank for the settlement of cas hless interbank payments. As the â€Å"bankers bank†, the Bundesbank in normal circumstances smooths out fluctuations in the banking systems demand for entral bank money that result from ongoing inpayments to and outpayments from credit institutions giro accounts with the Bundesbank. In addition, the banks themselves can even out very short-term fluctuations to a certain extent since the minimum reserve requirements do not have to be complied with on a day-to-day basis, but only as an average of the month. 3. The states bank As a banking institution, the Bundesbank acts in some measure as the â€Å"principal banker† of the Federal Government and – to a lesser extent – of the Lander Governments. However, the legislature, in the light of past experience, has closely circumscribed this field of operations, so as to rule out any erosion of the Bundesbanks monetary policy autonomy right from the start. A focal point of the Bundesbanks activities as the stat es â€Å"principal banker† remains its participation in borrowing in the market by the Federal Government (including its special funds) and the Lander Governments. Debt securities and Treasury bills should be issued primarily through the Bundesbank; failing this, the Bundesbank must be consulted (Bundesbank Act, section 20). In this context, the Bundesbank mainly performs an advisory, intermediary and coordinating function, for which its knowledge of market conditions makes it especially fitted. The Bundesbank acts as the fiscal agent for most of the debt instruments issued by the Federal Government (see page 59 f. ). For instance, it sells Treasury financing paper, Federal savings bonds and five-year special Federal bonds in the form of tap issues for the account of the Federal Government 4. The guardian of the monetary reserves The Bundesbank is the only body in Germany which holds official monetary reserves; it therefore manages the â€Å"national monetary reservesà ¢â‚¬ . The gold holding, which amounted to DM 13. 7 billion at the end of 1994 purchase price, constitutes a considerable part of these reserves. The most important single item, however, is the dollar holding, which came to around DM 80 billion at the end of 1994. The great significance of this item is justified by the predominant position the US dollar holds as an international intervention and reserve currency. Germany is a member of the European Monetary System (EMS), and this accounts for the Bundesbanks claims on the European Monetary Institute (up to the end of 1993: on the European Monetary Cooperation Fund – EMCF), to which 20 % of the gold and dollar reserves were transferred on a revolving basis. Finally, the reserve position in the International Monetary Fund is likewise a major constituent. This item includes the special drawing rights resulting from Germanys membership of the International Monetary Fund. Don’t waste time! Our writers will create an original "The Functions of the Deutsche Bundesbank" essay for you Create order

Women on the Edge of Time and Stranger in a Strange Land...

The novel Women on the Edge of Time and Stranger in a Strange Land have some similarities. They both depict how the gender socialization process is bias and a catalyst to gender disparity in the society. Both stories bring to light how men are given privileged as compared to women in the society. Analyzing the two stories and using outside sources I will draw a conclusion on how gender and power ideologies have equality impacted our society. â€Å"Women on the Edge of Time† is a book written by Marge Piercy explaining the position of women in the era 1976 going 150 years backwards. This book is open to any kind of interpretation. The narrative shows us the life of a single parent, Chicano. She is a poor woman who is struggling to provide a†¦show more content†¦They excused themselves that they were doing her a favor as they were protecting her from herself. Her mystery leaves us to ask ourselves whether it was really her who was mad or was it the world she was living in? She was just a woman who was suffering her own fate while every other woman was enjoying the life of being provided for by their husbands. ‘She was a woman on the edge; the periphery, the ultimate other, the bottom edge of society, the edge of sanity’. She was a result of abuse from men and science. She had a child who was a fruit of rape. She lost her fertility to a science experiment. She had only two men who had treated her with dignity; her first husband who was killed in the streets by the police and her other husband who died of hepatitis, Claude. The institution that victimized her was the same that took away her protectors, anyone who cared for her. Then, there was Luciente who helped her to jump over to another kind of life. Her presence on the edge made it easier for Luciente to contact her. Luciente was the person from the other side of life (future). He was some kind of a hallucination but this did not make it less hopeful. Whether she invented it or not, it was a sign that she had a greater mental state. She had bigger dreams and this contradicted her lack of education and imagination. Piercy skills as a writer give us suspense whether Luciente was a future Connie. Just as Women on the Edge of TimeShow MoreRelatedEssay : Chapter 1756 Words   |  4 PagesBlood dripped from the razor-sharp edge of my ax, Sylke. The strongest opponent I had ever faced kneeled before me, defeated by my unrelenting attack. I could barely hold my weapon, both arms covered in numerous wounds. The air steamed as I panted for breath, each exhale like a small gale. It was finally time. â€Å"Where is She?† I spoke slowly, calmly, despite my grievous injuries. My foe grimaced, releasing the hold on her greatsword, slowly leaning backward, until she was flat on the ground, oneRead MoreEssay on Sex in Ursula K. LeGuins The Left Hand of Darkness1287 Words   |  6 Pagesto a strange planet called Gethen, or Winter. 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Beyond that, was considered to be infinity, and of possibilities. One man who never believed in the superstition at the time, starting with the world is flat and an evil presence guard the edge of the world. Christopher Columbus was never deterred on what to or not to be afraid of; and wantedRead MoreFeminism in The Wizard of Oz4177 Words   |  17 Pagestelevision and becoming a part of American cultural history. The song Somewhere Over the Rainbow, won an Oscar for best song, and has been recorded by hundreds of artists. In fact, for numerous critics, the movie is ranked among the top 10 movies of all times, and the Library of Congress names it the most watched film in history (The Wizard of Oz, 2010; Baum, 1956). Most people are more familiar with the movie rather than the series of Baums books. As a film, we must remember that color cinematography

Case Study on Economic Development-Free-Samples for Students

Question: Discuss about the Role of Technology in Increasing Employee Productivity Answer: Introduction In the present day scenario, technology is something unavoidable. The advent of the modern scientific technologies has set path breaking records in almost every business fields. Adopting and using the technological tools has proved to be very much useful. This is because the technology driven methods will surely reduce the chancres if error and will make the entire work much more data driven. There will also be sufficient amount of support available in measuring the performance of the employees through the usage of technology. One of the good examples is that of mobile phones and laptops. Particularly mobiles are extremely handy technological device to be used in each and every organization by all the employees. They can often use their personal mobile phones for work related reasons like finding out some information or doing some quick calculations (Mohnen and Hall 2013). Another good example is email, internet calling which can be used for sharing the information in seconds with th e click of a button. This not only makes the work smooth but also reduces time and makes the work much more accurate (McNeese-Smith 2015). Research questions Has technology affected the employee performance of the department of economic development? How has Information and communication technology affected the employee performance management? Literature review The significance of information technology in every level of business is crucial. In strategic and tactical level of business, technology is needed the other purpose of using technology is to increase the productivity of the business. The technology can be used in two different area. One in software and others are in hardware. The factories and manufacturing oriented business uses the hardware technologies and other uses the softwares. The industries were the technology is incorporated are growing at a faster rate (Holzer 2012). Some of the countries like Japan, Korea and China has been dramatically influenced by technology (Mohnen and Hall 2013). The standard of living is also influence by this. The technology has also provided a competitive edge to those countries. Thus helping in creating a better workforce for people. The most important part of technology is to act as a stimulator in increasing the employee productivity (McNeese-Smith 2015). According to the National Bureau of statistics UAE, population reached 8264 thousand people and the growth rate of people is near 0.5% in UAE. According to the estimates of the International Labour Organisation (ILO), the rate of employment and participation is approximately 80%. In addition, they are aged above 15 years and above (Economy.gov.ae, 2017). The average age of the population is less than 30, which gives them a proper advantage compared to other countries. The unemployment rate declined and size of workforce level increased by 4% in the next years. Figure: employment estimates and size of wages in Abu Dhabi Source : Economy.gov.ae, 2017 The laws regarding usage of technology the structures are quite in favour of the system innovations. The law of data protection, electronic identity laws are supportive of Information and Communicative Technology. Internet broadband and lines are 1104996 according to the data of 2014 (Economy.gov.ae, 2017). The support is enough in context of information and technological applications. The support and electronic commerce movement in the country is legal and legitimate in nature. The evaluation and technology is primarily given in the transport sector, water, space, health and education. Every year the national strategy for innovation invests around 14 billion dirham in innovation and media management sections (Singh 2015). Figure: Number of internet users Source: United Arab Emirates, The telecommunication Regulatory Authority June 2015 data Employees are crucial part of business when it comes to increase the productivity. Nowadays technology has affected the productivity in gauging all the aspects of their productivity in workplace. The performance of any business function depends on their performance in workplace (Mohnen and Hall 2013). This aspect of productivity measurement is also highly affected by technology. In addition, remote works are also picked by technology that were very difficult previously. The most commonly used technology in every department are internet and mobile phones and laptops. This is mainly usage of information technology. Necessity of using IT and ICT to increase employee productivity Information storage and processing is the basic work of IT technologies used in the workplace. Organisations use the information and store them to use it further in favour of organisation. The place where this kind of information is processed is computers, building communication networks and tools, fax machines, data storage and applications (Bloom et al. 2016). The application of IT in can be in two categories. The operational application recruiting, preparing payroll, taking personal orders, forecasting the inventory and planning production, distribution, allocation and labour and costing are the place where the application of information technology are used. In other functions like automation and administrative work application of technology are also used (Mohnen and Hall 2013). Informational application the main help of this is to facilitate the collection of information, transferring, storage and dissemination. Productivity measurement To gauge the productivity of the company, it must be measured. The main criteria are to check the development of the technology in companies too. Efficiency measuring is also part of this process (Bhatti and Qureshi 2007) . Efficiency in technical part and allocative efficiency in profit maximisation of the business is also purpose of measuring this. Cost saving and measuring the input is main purpose of productivity measurement. Measuring the quality of the productivity is also part of the process (Singh 2015). Performance management using Information technology Using the performance metrics in the context of IT operations, the software tools are needed. Not only managing but also improving the performance must be incorporated in the process of business development. The functions or process where IT is needed Goal setting based on data driven outcomes on previous years Aligning the objectives and interpreting the need on measuring competence Setting the SMART goals as well as emphasizing in the attainable goals (Bhatti and Qureshi 2007) Guiding employees based on data driven facts and opinions based on that too Using artificial intelligence apps in giving feedback and getting real-time information Using advanced digitalised knowledge pool incorporated by senior HR leadership Using the recent information to motivate by auto analysis apps making it positive (Maduka and Okafor 2014) The technologies used in checking performance are APM, App dynamic, Steel Central Performance management system and control, Compuware APM, BMC software APM, JenniferSoft APM, Lucierna, ExtraHop, CA application Performance Management (Bloom et al. 2016). To set the goal of the employees it must be a derivative of company goal. The productivity of the company should be decided and then it must be communicated to the employees. Using historical data and based on the traffic of the employees and their future goals. The key initiatives to estimate the improvement and growth experiments are a part of goal setting (Bloom et al. 2016). To evaluate against the peers it must be in a form of comparing the data. To quantify the improvement the records of evaluation and monitoring must be given emphasis. Aligning the objectives of the company with the ultimate goals of increasing sales. The increased operating margin also should be aligned with the performance expectations. To improve the measuring impact of different daily activities in the company the SMART goals must be incorporated. To increase the SMART activities the following things must be considered. Specific the target for the area of improvement must be specific Measurable - Quantifying the numerically decided target is measurable conditions or known as KPIs in change. Assignable to take decision based on the achievable goals in a company Realistic setting goals realistically as well as the based on the resources available in the company. Time related specification based on the time allotted and measured (Maduka and Okafor 2014) Using the digital tools it must be given emphasis. According the central Bureaus statistics of Abu Dhabi the usage of the evaluation and monitor system of the company is used more than 63% of employers. The advanced technologies and performance improvement are given by data driven software mentioned above and artificial Intelligence applications (Dul and Ceylan 2014). It helps in particular actions regarding performance management and colleagues with new knowledge. For example, crowd source technology helps in collaborate among the co-workers and customise the objectives as well as provides real time visibility among each others progress report (Koopman et al. 2012) Research methodology Research methodology refers to the process of conducting the research and before that interpreting the problem statement of the company or department of doing the research. The appropriate method selection and based on the objective of the study, conclusion must be drawn. The research questions are highlighted in the beginning of the research and aligning the goal is needed (Mackey and Gass 2015). This research is based on getting the overview of the employee productivity and how it is affected by Information and communication technology (ICT). The area focused to be researched is selected as the performance management and measuring their productivity. The process of this research will be followed in a qualitative way. Research philosophy Here the research philosophy comes first in the first step of research onion. This is dependent on the parameters that are expected to become the variables of expected outcome. The employability factors will be gauged in the economic department of Abu Dhabi. The positivism is expected in this research and variables required to be maintained on the response that will be taken from the employees performance of the company (Silverman 2016). The insight analysis of the departments performance can be better conducted if the moving forward is pursued with positive approach. Research approach and Design Research approach is in the second process of building a research methodology. In this particular research, inductive way of research is selected. This process will include the observation, data collection and data analysis, keeping in mind about the theories or the conceptual framework done in literature review (Panneerselvam 2014). Research design includes the way the research will be designed and done. The exploratory, descriptive and explanatory way of research is the main process of this research. The exploratory way of research includes the identification of background of the information, research questions, data collection and analysing based on the objectives of the study (Flick 2015). The descriptive way of research is mainly based on the problem statements that are gathered at the initial stage of research (Panneerselvam 2014). Here the findings and conclusion will be based on the objective of checking the role of technology in employee performance management. The dedication and attentiveness of the expected outcome of the process will be based on the economic development department of Abu Dhabi. Data collection process The data collection process includes primary and secondary way of research. The emphasis will be on the primary data collection for more authenticity of the information gathered (Taylor et al. 2015). To get the information on their performance management that are impacted by technology the primary data will be collected from the employees in Abu Dhabis economic development centre. The employees will be surveyed on their perception of their own performance using the Information technology using laptops and mobile as well as the internet and broad brands utilisation in the workplace (Smith 2015). Managers will be surveyed based on the software they use and how they think this helps them in evaluating and monitoring the performance of their employees. The SMART measurements and utility of the output from the software helps. The primary data will be more valid and reliable (Miller et al. 2012). Sampling method Sampling method is crucial to be considered and getting the response while conducting the survey. Between the probability and non-probability, sampling method the probability sampling method will be selected for these research outcomes. The probability sampling will be used for standardising the deviation of the research, which will be done basically in the process of data analysis of the research (Taylor et al. 2015). Sample size For conducting the study, 90 respondents will be selected form that department and interviewed in the process. The questions will be close ended for the 80 of the selected employees in checking their statement in the process and 10 managers in identifying the performance managements in the department. Expected outcome Information technology is induced in the core process of the departments as can be predicted. The accuracy of performance management increases in using the Information and communication technology. Using SMART process, it can be said that this concept is very useful for the department and enhances the quality of management. Improvising the process is also part of this management. As from the economic report, it is seen that internet and other digital technologies are very much used in the entire department. The measurements are more data driven and can be used pin motivating the employees too. The usage of that has provided them with a competitive advantage that cannot be ignored. The efficiency and effectiveness of the department is also predicted to be increased in incorporating performance management software getting data driven idea on employees performance. Timeline Conclusion Thereby, it can be concluded that technology has a major role in to play in the industrial sectors. However, it must be kept in mind that just as technology is very much helpful in making the work of the employees much easier. The qualitative method has been used in this research analysis in order to collect the data. The primary data collection method has also been used in order to gain information from the economic department of the economic development of Abu Dhabi. The resultant available from this research is that technology really has a major role to play in speeding up the work of the employees. It will enable to make the work very much faster and without any error. Hence, technology must be utilized in different aspects including the employee performance measurement. References Bhatti, K.K. and Qureshi, T.M., 2007. Impact of employee participation on job satisfaction, employee commitment and employee productivity.International Review of Business Research Papers,3(2), pp.54-68. Bloom, N., Draca, M. and Van Reenen, J., 2016. Trade induced technical change? The impact of Chinese imports on innovation, IT and productivity.The Review of Economic Studies,83(1), pp.87-117. Dul, J. and Ceylan, C., 2014. The Impact of a Creativity?supporting Work Environment on a Firm's Product Innovation Performance.Journal of Product Innovation Management,31(6), pp.1254-1267. Economy.gov.ae. (2017).Cite a Website - Cite This For Me. [online] Available at: https://www.economy.gov.ae/EconomicalReportsEn/MOE%20Annual%20Report%20English%20-%202015.pdf [Accessed 7 Nov. 2017]. Flick, U., 2015.Introducing research methodology: A beginner's guide to doing a research project. Sage. Green, P. and Adekanmbi, O., 2015. Examination of employee factors influencing organisational productivity: Perspective of a public entity. Hamzah, H., Suryadi, N. and Hamzah, Z., 2016. The Effect of Wage and Incentive on Employee Productivity Viewed in Islamic Perspective.Scientific Journal of PPI-UKM,3(2), pp.65-70. Holzer, H.J.,2012 . The determinants of employee productivity and earnings.Industrial Relations: A Journal of Economy and Society,29(3), pp.403-422. Koopman, C., Pelletier, K.R., Murray, J.F., Sharda, C.E., Berger, M.L., Turpin, R.S., Hackleman, P., Gibson, P., Holmes, D.M. and Bendel, T., 2012. Stanford presenteeism scale: health status and employee productivity.Journal of occupational and environmental medicine,44(1), pp.14-20. Mackey, A. and Gass, S.M., 2015.Second language research: Methodology and design. Routledge. Maduka, C.E. and Okafor, O., 2014. Effect of motivation on employee productivity: A study of manufacturing companies in Nnewi.International Journal of Managerial Studies and Research (IJMSR),2(7), pp.137-147. Marks, M.L., Mirvis, P.H., Hackett, E.J. and Grady, J.F.,2015. Employee participation in a quality circle program: Impact on quality of work life, productivity, and absenteeism.Journal of Applied Psychology,71(1), pp.61-69. McNeese-Smith, D.,2015. Increasing employee productivity, job satisfaction, and organizational commitment.Journal of Healthcare Management,41(2), pp.160-175. Miller, T., Birch, M., Mauthner, M. and Jessop, J. eds., 2012.Ethics in qualitative research. Sage. Mohnen, P. and Hall, B.H., 2013. Innovation and productivity: An update.Eurasian Business Review,3(1), pp.47-65. Panneerselvam, R., 2014.Research methodology. PHI Learning Pvt. Ltd Silverman, D. ed., 2016.Qualitative research. Sage. Singh, K., 2015. Leadership Style and Employee Productivity: A Case Study of Indian Banking Organizations.Journal of Knowledge Globalization,8(2). Smith, J.A. ed., 2015.Qualitative psychology: A practical guide to research methods. Sage. Taylor, S.J., Bogdan, R. and DeVault, M., 2015.Introduction to qualitative research methods: A guidebook and resource. John Wiley Sons

Logistics Management for Loreal Company- myassignmenthelp.com

Question: Discuss about theLogistics Management for Loreal Company. Answer: Introduction The report presents a brief overview of logistics management of the LOreal Company. It explains the significance and function of the logistics management. In addition, the report also describes the current order cycle system and current stock management of the company. It also tells that how to interface and its core functional areas play an integral role in logistics management. LOreal S.A is a French cosmetics company which head office located in Clichy, France. The company was founded on 30 July 1909 and its registered office is located in Paris. It is one of the biggest cosmetic companies in the world. It deals in various cosmetics and beauty products. It concentrates various activities in the field of cosmetics such as hair color, sun protection, makeup, skin care, hair care and perfume. There are approx 89,300 people are employed in the company. The Jean-Paul Agon is the CEO of the firm. The company is expanding its business activities and operations day by day. The company provides various cosmetics products to men and women globally. The total revenue of the company is approx 25.837 billion. The company is listed in the stock market. The Proctor Gamble Company and the Estee Lauder Companies Inc. are the main competitors of the company. The firm is offering the attractive and excellent quality of items and products to women and girls (Fernie Sparks, 2014). It is one of the biggest cosmetic brands across the world. It is the French brand which deals in various cosmetics and beauty products. Interface The interface is a method and technique that supports the association to collaborate, converse and cooperate with various obstacles and barriers of the firm. The logistics management is the core function of the every organization. The core functional areas of logistics management are production department interface, marketing department interface and accounting and finance department interface (Zhou,Chen, Li, Luo, Song, Duan Yang, 2014). The interface between logistics and important functional areas like marketing, accounting, and finance and production interface are essential and mandatory for the company to meet the firm long-term business goals and objectives. The harmonization and cooperation are mandatory to maximize the total value offered by the company. Further, the interface between the logistics and core functional departments also play a significant role to ensure the optimum utilization of resources. Further, the military theory of logistics management is very popular in the company. The interface is an important and helpful technique for the LOreal Company. The three core functional areas of logistics management of LOreal Company have been discussed below (Christopher, 2016). Production department interface The production department of the LOreal should be done in such a way that the whole actions and operations of the production and manufacture run efficiently and it helps the firm to increase the revenue and productivity of the firm. The production of the company depends on the cost and quality of the cosmetics products. The logistics management contributes in production department interface. In this company, the managers, and top management check and evaluate the quality and quantity of the products to gain the long-term goals and objectives of the company. In this way, the company can attract more customers in the market. The production department interface of this company checks and evaluates that how the firm maintains the quantity and quality of the cosmetics products in the market. It is essential to production department that it should understand the needs, expectations, and requirements of consumers especially womens. In this way, it will help to provide satisfaction to the cu stomers in the market (Mahon, Salvati, Bombelli, Lynch Dawson, 2012). Marketing department interface There is a close relationship between logistics management and marketing department interface. The marketing department interface includes the various areas such as product mix, promotional activities, market research and pricing decisions. It will provide help to improve packaging and better information flow. Further, it would be helpful for the distribution channels and better customer service. In marketing department interface the company focuses on the four key perspectives while edging with the market. These 4 perspectives include the intersections, relabeling, unionist and traditionalist (Kose, Otrok Prasad, 2012). Accounting and finance department interface A strong logistics management helps to the company to provide the various economic benefits in the market. The LOreal Company also takes the support of the logistics management to achieve the outcomes and result of the company. The accounts and finance department check and analyze the financial and accounting activities and transactions of the company. The various costs and expenses are controlled by the accounts and finance department. This interface helps to make an appropriate budget for purchasing and allocating of various resources. Moreover, the finance and accounting department interface also beneficial to reduce the inventory cost, production unit cost and packaging cost (Henderson Ferreira, 2013). Current order processing system The order cycle refers to the moment between the placing of a single order and the subsequent order. It is a particular time and instance period among the two orders that have been sighted in order. The time period between placing and receiving of the order, it is called order guide time. LOreal firm is using the excellent and effective order cycle methods and techniques in order to gain growth and success in near future (Palmer, 2012). After various researches, it has been evaluated that the current order dispensation system of this company is unique and effective. It can be measured through the data and figures which are calculated by the company that around 67% of United Kingdom girls and women use LOreal cosmetics products. It has been analyzed that LOreal products and logistics business are managed by the world-class qualified and effective consultant team. Therefore, it is improving the effectiveness and efficiency of the current order processing method of the company. However, it is also evaluated that the company takes various kind of information about the product through Edicoms CRP flow. The consultancy team of the LOreal Company is trying to overcome all the issues and obstacles and it is making the current order processing system more efficient and effective (Ashraf, Ashraf, Azhar Anam, 2015). It has been analyzed that the company uses order management software that helps and supports to the company for providing accurate and correct order facts and information in a single place that is available for every sales worker all over the firm. The use of this order cycle method helps and guides the association in such a way to decrease the cost and time. Further, this system also helps to provide customer satisfaction at all levels of customers in the market (Duflot, 2014). Recommendation for current order cycle system Although the current order processing method of the LOreal is excellent and efficient but in todays universal and competitive business and trade environment, it is necessary for the firm to arrange proper review and monitoring to maintain and manage its efficiency and effectiveness at all level in the market (Scott, Lundgren Thompson, 2011). It is recommended that the LOreal Company must manage and control changes in the current order processing method according to changes in the technology and environment to confirm its sustainable growth and success. Further, the association should properly update its order management application and software to provide better services to its customers. It is also suggested that the company should effectively and efficiently integrate the order administration function into the order process to resolve various barriers associated with delivery time and speed. In addition, the firm should provide its product at reasonable prices so that middle and l ower category customers can also purchase the products of the company (rov, 2015). Current inventory management and recommendations Inventory management is the important function of the company to gain the growth and success of the market. It has been evaluated that after normalized and regulated stock supply processes and wrapping in Europe, a supply chain cockpit founded by the association which believes the targets and association KPIs. The cockpit is interconnected with manufacture development information across 13 European plants. Further, the stock management and appearance of the cockpit is also expanded by connecting it to above 100 dealers with the help of web portal and straight exchange data from the Enterprise resource planning system of the dealers. The supply chain cockpit is important and excellent to manage and control the stock of the company across the world. It also pursues a method and strategy to maintain one month stock in extra at the CFA level in the month beginning (Strydom, 2011). It also keeps one month inventory in the warehouse. This approach increases and enhances the firm inventory holding cost. In addition, Improper forecasting is a major issue in this company thus, it is mandatory for the company to improve forecasts for reducing the firm inventory holding cost and it also increases the profit and revenue of the company. The use of advanced technologies like CRP/VMI supports and guides to the company to optimize and utilize the resource and good delivery at the point of sale. In this way, the firm maintains the adequate and proper inventory level. The LOreal uses the supply chain index methodology which is used to estimate and predict the supply chain in the company to manage the cost and time effectively (Kaynak, Mockler Dologite, 2014). The current inventory management of the company is very effective and efficient. Further, the company has developed an integrated solution for industrial systems to handle the order management, real-time material movement, and inventory management. The implementation of ERP solutions and OM help to reduce the cost and risk related to the inventory management. Now it is suggested that the company must focus on aligning the needs and requirements of logistics function, operation, inventory management and manufacturing function. Further, the LOreal Company should focus on implementing and executing the real-time application which is available 24*7 in order to ensure the efficiency and effectiveness of the inventory management. It will also ensure the long-term growth, success, and survival of the company (Corominas Sotero Garca Santos, 2013). Conclusion Now it is concluded and analyzed that interface of logistics management is beneficial for every organization in order to ensure the growth and success of the firm. It also ensures the optimum utilization of resources and it also provides business growth and success. It is reducing the production cost and enhances and provides customer satisfaction to people. Further, the current order cycle system and inventory management are effective and efficient of the LOreal Company. It has been evaluated that use of advanced technological systems, solutions, and software such as ERP, OM, ISIS assist and support the managers to reduce the cost and manage the risk of the firm. But at the same time, various key challenges and issues like changing customer needs, requirements, speed, complex and difficult business nature. So it is recommended that the company must implement some monitoring programs and campaigns to ensure the success and growth of the company. In this way, the company can build and maintain a strong position in the market to attract more men and women in the market. References Ashraf, I., Ashraf, F., Azhar, N., Anam, W. (2015). 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