Logistics is the management of the flow of goods between the point of origin and the point of consumption in order to meet some requirements, of customers or corporations. The resources managed in logistics can include physical items, such as food, materials, animals, equipment and liquids, as well as abstract items, such as time, information, particles, and energy. The logistics of physical items usually involves the integration of information flow, material handling, production, packaging, inventory, transportation, warehousing, and often security. The complexity of logistics can be modeled, analyzed, visualized, and optimized by dedicated simulation software. The minimization of the use of resources is a common motivation in logistics for import and export. Read more








Supply & Demand

In microeconomics, supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium for price and quantity.

The four basic laws of supply and demand are:

  1. If demand increases (demand curve shifts to the right) and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price.
  2. If demand decreases (demand curve shifts to the left) and supply remains unchanged, a surplus occurs, leading to a lower equilibrium price.
  3. If demand remains unchanged and supply increases (supply curve shifts to the right), a surplus occurs, leading to a lower equilibrium price.
  4. If demand remains unchanged and supply decreases (supply curve shifts to the left), a shortage occurs, leading to a higher equilibrium price.

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Bullwhip Effect


Examples of some of the largest Retailers:

Latitude and Longitude

Center of Gravity Analysis

Euclidean in Science Expand

Relating to geometry of plane figures based on the five postulates (axioms) of Euclid, involving the derivation of theorems from those postulates. The five postulates are: 1. Any two points can be joined by a straight line. 2. Any straight line segment can be extended indefinitely in a straight line. 3. Given any straight line segment, a circle can be drawn having the line segment as radius and an endpoint as center. 4. All right angles are congruent. 5. (Also called the parallel postulate.) If two lines are drawn that intersect a third in such a way that the sum of inner angles on one side is less than the sum of two right triangles, then the two lines will intersect each other on that side if the lines are extended far enough.

Our Classroom is Latitude: 39.392718 / Longitude: -76.605912

What is the location of Baltimore City? Click here


Economic Price of Colleges’ Failures

The Economic Price of Colleges’ Failures = > Click here

Is college too easy? As study time falls, debate rises

Three years ago attending lectures, studying and eating were the only occupations in my life. I spent 13 hours at school every day and often continued my schoolwork at night. In my family, and many other families in China the holidays are considered an extended “study hall” rather than the break from schoolwork they offer students in other nations…

On average the time students in China spend on schoolwork each day is 11.7 hours for high school students, 9.67 hours for middle school students, 8.46 hours for technical school students, and 6.98 hours for primary school students. Read more

What is expected? The general rule of thumb regarding college studying is, and has been for a long time, that for each class, students should spend approximately 2-3 of study time for each hour that they spend in class. Many students carry a course load of 15 credits, or approximately 15 hours of class time each week. Doing some simple math indicates that your student should be spending roughly 30 hours of study time and 15 hours in class. This 45 hours is the equivalent of a full time job – the reason that your student is called a full time student. For many students, this number is a surprise.  Read more

Towson University policy – click here

Here are some additional articles:



Because China is in the northern hemisphere, its summer months are in line with Asia, Europe, and North America. The school year in China typically runs from the beginning of September to mid-July. Summer vacation is generally spent in summer classes or studying for entrance exams. The average school day runs from 7:30 a.m. to 5 p.m., with a two-hour lunch break. Formal education in China lasts for nine years. China provides all students with uniforms, but does not require they be worn.

Chinese student

There are about 21 students in each classroom. All Chinese students study from textbooks that emphasize China’s unity, past and present accomplishments, and its future. Students in China also have great access to computer technology, with a computer to student ratio of 1:2. Chinese language and math skills are tested at the end of each year. Math is typically taught by drill, which means students are repeatedly taught the basics of math until they are able to demonstrate comprehension. Education in China since the turn of the 21st century has been undergoing reform, with curriculum being redesigned to emphasize group activities and other methods believed to foster creativity and innovation.

Costa Rica

Costa Rica

Costa Rica was one of the first nations in Central and South America to offer free public education. On average, there are about twenty-eight students in a classroom. Students are required to wear uniforms during the nine years of their formal education, from ages 6 to 15, and supply their own lunches and snacks. Students then begin college at age 15. The school year in Costa Rica runs from February to December. Students have vacation for about two months, from December to February, and a few weeks off in July.

Costa Rican student

Costa Rica is one of the most literate nations in Central America with over 96% of students over age 15 being able to read. In addition to the regular subjects–Spanish, social studies, math, and science–all Costa Rican schools now teach students English and computer science.
Read more: School Years around the World 

Location, Location, Location

…that’s what they say in Real Estate

Federal Express



Take a look at the $255 million (phase 1 costs) NEW Exelon Tower under construction in Baltimore City.


The headquarters for Baltimore Gas & Electric / Constellation Energy has gained support from Mayor Stephanie Rawlings-Blake as part of a project to build a new bridge to the site along Central Avenue and will erect a public plaza that will showcase the Exelon Tower.  Read more


Hard Rock Café Video (see MyOMLab multimedia – 8:36 minutes)
The Senior Director for Worldwide Café Development has a significant amount of personal authority to determine future locations.  Although the firm certainly performs a significant amount of analysis, the Hard Rock approach seems to be somewhat less scientific and based partly on a “feeling” for the right city to go to and the right part of town in which to locate. The firm also carefully considers how the city is evolving and what it might look like in 10-15 years, because the leases are usually signed for that length of time. For Hard Rock, location begins with a global view of which country to go into (the U.S. market seems to be fairly well saturated from Hard Rock’s point of view). Hard Rock considers country factors such as political risk, currency risk, social norms, brand fit, social costs, and business practices. After good potential countries are identified, Hard Rock then focuses on regions, followed by cities. Important city factors include population, disposable income, visitor income, and whether it would be good to locate in the city center (which Hard Rock usually prefers) or the suburbs. Once potential cities are identified, Hard Rock performs breakeven analysis to determine if purchase and construction or remodel will be profitable.

Ask students, “have you eaten at any Hard Rock Cafés? If so, in what part of the city were they located? Was the location chosen primarily to attract tourists or local residents? Compare the factors that are important for Hard Rock with your perception of another well-known international restaurant chain: McDonald’s. Would a McDonald’s typically be located next to a Hard Rock? If not, why not? A different discussion stream could focus on Hard Rock’s list of country factors. Under what circumstances do the students think that political risk might play a factor? Also, what did the Senior Director mean by “social costs?”

KSFs affecting Location

Big Rocks in your Life

One day this expert was speaking to a group of business students and, to drive home a point, used an illustration I’m sure those students will never forget. After I share it with you, you’ll never forget it either.

As this man stood in front of the group of high-powered over-achievers he said, “Okay, time for a quiz.” Then he pulled out a one-gallon, wide-mouthed mason jar and set it on a table in front of him. Then he produced about a dozen fist-sized rocks and carefully placed them, one at a time, into the jar.steven_covey

When the jar was filled to the top and no more rocks would fit inside, he asked, “Is this jar full?” Everyone in the class said, “Yes.” Then he said, “Really?” He reached under the table and pulled out a bucket of gravel. Then he dumped some gravel in and shook the jar causing pieces of gravel to work themselves down into the spaces between the big rocks.

Then he smiled and asked the group once more, “Is the jar full?” By this time the class was onto him. “Probably not,” one of them answered. “Good!” he replied. And he reached under the table and brought out a bucket of sand. He started dumping the sand in and it went into all the spaces left between the rocks and the gravel. Once more he asked the question, “Is this jar full?”

“No!” the class shouted. Once again he said, “Good!” Then he grabbed a pitcher of water and began to pour it in until the jar was filled to the brim. Then he looked up at the class and asked, “What is the point of this illustration?”

One eager beaver raised his hand and said, “The point is, no matter how full your schedule is, if you try really hard, you can always fit some more things into it!”

“No,” the speaker replied, “that’s not the point. The truth this illustration teaches us is: If you don’t put the big rocks in first, you’ll never get them in at all.”

What are the big rocks in your life? A project that you want to accomplish? Time with your loved ones? Your faith, your education, your finances? A cause? Teaching or mentoring others? Remember to put these Big Rocks in first or you’ll never get them in at all.
Download PDF
Dr. Stephen R. Covey,
First Things First

Watch video

Statistical Process Control

In industrial statistics, the X-bar chart is a type of Shewhart control chart that is used to monitor the arithmetic means of successive samples of constant size, n. This type of control chart is used for characteristics that can be measured on a continuous scale, such as weight, temperature, thickness etc. For example, one might take a sample of 5 shafts from production every hour, measure the diameter of each, and then plot, for each sample, the average of the five diameter values on the chart.

For the purposes of control limit calculation, the sample means are assumed to be normally distributed, an assumption justified by the Central Limit Theorem.

The X-bar chart is always used in conjunction with a variation chart such as the \bar x and R chart or \bar x and s chart. The R-chart shows sample ranges (difference between the largest and the smallest values in the sample), while the s-chart shows the samples’ standard deviation. The R-chart was preferred in times when calculations were performed manually, as the range is far easier to calculate than the standard deviation; with the advent of computers, ease of calculation ceased to be an issue, and the s-chart is preferred these days, as it is statistically more meaningful and efficient. Depending on the type of variation chart used, the average sample range or the average sample standard deviation is used to derive the X-bar chart’s control limits.

Statistical Tools for Managers – On-line Tutorial: Click here

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"Logistics beyond Expectations"

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