Mid Term

BBA-8
Student Name: Syed Hamza Hasnain Jafferi
Student ID: 12673
Instructor: Sir Masood Mir
Corse: Application of Business Research Methods
Answer No 1

Topic:

“Impact of Some Fundamentals on Inventory Management of a

Supplier Company”
Dependent Variables:

1. Inventory Control

Independent Variable

1. Cost-effectively
2. Employee Training
3. Storage Methods
4. Material Inspection

Problem Statement:

In a dynamic market environment, it is necessary to focus on the decision making and the factors
influencing decision making in order to optimize the results of inventory function. The survey approach
can bring a light on the variables and these have lot of biased information. Testing of the factors
influence on inventory decisions by using scientific methods can help to improve the reliability of the
factors taken as key variables in decision making. Inventory rotation is a great challenge for Hawkins
supply company according to our opinion Hawkins supply have to Set up a process or a procedure that
will automatically and regularly measure the amount of inventory rotation Incorrectly located material
and overstock makes problems in inventory rotation.

Hypothesis:

H1: There is a positive relationship between cost effectively and inventory control

H0: there is a negative relationship between cost effectively and inventory control

H1: There is a positive relationship between employee training and inventory control

H0: There is a negative relationship between employee training and inventory control

H1: There is a positive relationship between storage method and inventory control

H0: There is a negative relationship between storage method and inventory control

H1: There is a positive relationship between material inspection and inventory control

H0: There is a negative relationship between material inspection and inventory control
Objectives:
Every company has inventory problems, whether they are recognized or not. These inventory problems
represent waste. They tie up company money, require material handling and consume valuable space.
According to my opinion the Hawkins supply company have to take some initiative steps in the inventory
control first they have to the categories of inventory problems that may represent the biggest losses, for
example: Incorrectly located material, Obsolete material, Overstocks and Defective material so that they
can measure the overstock by the number of weeks or months of supply on hand, and determine the
value of these categories. Each measurement can define the borderline between justifiable and

inventory problems. The Hawkins Company should have to identify how the problem was created in the
first place by using the root cause analysis method, for instance. Prompt monitoring and disposal of
inventory problems help limit the cost, but the real objective should be to prevent inventory problems
from developing at the outset.

Theoretical Framework:

Cost-effectively Employee Training Storage Methods

Material Inspection

Inventory Control

Answer No 2

Personal epistemology refers to the theories or beliefs that lay persons hold about the nature of
knowledge and the process of knowing. The article shows that personal epistemology has grown to be a
distinct, active field of educational inquiry in the most recent decades.
Epistemology is a long-discussed issue, the science of the initiation and development process of human
cognition as well as its laws. It focuses on sources of people’s consciousness, cognitive ability, cognitive
form, cognitive nature, the structure of cognition, the relationship between objective truth and
cognition, and so on.

One possible answer is to say that vision is not sufficient to give knowledge of how things are. Vision
needs to be “corrected” with information derived from the other senses. Research process may
integrate all of these sources of knowledge within a single study. For example, intuitive knowledge can
be used in order to select a specific problem to be explored within a selected research area, whereas
authoritative knowledge is gained during the process of literature review. Moreover, logical knowledge
is generated as a result of analyzing primary data findings, and conclusions of the research can be
perceived as empirical knowledge.

Sources of Epistemology:

Epistemologists generally recognize at different sources of knowledge:

INTUITION

The first method of knowing is intuition. When we use our intuition, we are relying on our guts, our
emotions, and/or our instincts to guide us. Rather than examining facts or using rational thought,
intuition involves believing what feels true.

AUTHORITY

Perhaps one of the most common methods of acquiring knowledge is through authority. This method
involves accepting new ideas because some authority figure states that they are true. These authorities
include parents, the media, doctors, Priests and other religious authorities, the government, and
professors. While in an ideal world we should be able to trust authority figures, history has taught us
otherwise and many instances of atrocities against humanity are a consequence of people
unquestioningly following authority (e.g., Salem Witch Trials, Nazi War Crimes).

RATIONALISM

Rationalism involves using logic and reasoning to acquire new knowledge. Using this method premises
are stated and logical rules are followed to arrive at sound conclusions. For instance, if I am given the
premise that all swans are white and the premise that this is a swan then I can come to the rational
conclusion that this swan is white without actually seeing the swan. The problem with this method is
that if the premises are wrong or there is an error in logic then the conclusion will not be valid.

EMPIRICISM

Empiricism involves acquiring knowledge through observation and experience. Once again many of you
may have believed that all swans are white because you have only ever seen white swans. For centuries
people believed the world is flat because it appears to be flat. These examples and the many visual
illusions that trick our senses illustrate the problems with relying on empiricism alone to derive
knowledge.

Answer No 3

The research is conducted on the 60 years old group in the organization whereas, the method from
collecting data is through the questionnaire in which followed by the likert scale of 5 the research
sample size based on the how much the people is base in the organization the sampling further
determine to see the results of the given situation. When there is having a neutral or natural
atmosphere in the organization it means the positive correlation is following in that particular
organization

In the research for checking the liability of the questionnaires that have been filled by the respondents
by the SPSS software is use followed by regression analysis Alpha and ANOVA convincing result were
found on the basis of testing.