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MBA 515 Business McDonalds Brand Strategy Paper
MBA 515 Business McDonalds Brand Strategy Paper
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
MBA 515 Business McDonalds Brand Strategy Paper
Please use references
Student 1 Rachel
How is it Week 5 already?!
For this week’s discussion, I am going to discuss how McDonalds uses the Economic Order Quantity (EEQ) model. McDonalds believes that the EOQ is the best way to order the most optimal order quantity and minimal costs while ordering materials and products or developing the system of producing the brand’s foods.
Not only does McDonalds have to think about the price of the item, it also has to take in consideration the transport costs and inventory costs. The optimal order quantity in relation to purchasing definite products for McDonald’s Corporation should contribute to minimizing the summed up annual ordering and inventory holding costs while following the fixed volume of demand. McDonalds develops its brand strategy based on high quality products and the speed of services provided.
Facts about McDonalds ordering:
Substantially achieved responsible sourcing goals for our six priority products: beef, chicken (soy for feed), coffee, palm oil, fish and fiber-based guest packaging
100% of our soy sourced for chicken feed globally supports the responsible production of soy
7% of fish sourced for McDonald’s Filet-o-Fish®came from verified sustainable sources in 2020
6% of our primary fiber-based guest packaging was sourced from recycled or certified sources in 2020 and supported deforestation-free supply chains
The situation of ordering the inadequate quantity of definite products can result in problems with using the products and their realization in time, and the problem can involve the issues of increasing the holding costs along with the possible further growth of ordering costs. That is why, the usage of the EOQ model is important to provide the effective realization of McDonald’s products with references to the optimal order of the necessary materials and goods.
I thought McDonalds was a good source for this week’s topic because even with a big and successful as McDonalds is, it still must make good/smart choices when it comes to ordering supplies.
Collier, D. A., & Evans, J. R. (2011). OM 3. USA: Cengage Learning. McDonald’s Corporation: Annual Report 2011. (2012). Retrieved from https://corporate.mcdonalds.com/content/dam/AboutMcDonalds/Investors/Investors%202012/2011%20Annual%20Report%20Final.pdf (Links to an external site.)
Responsible Sourcing. (2022). Retrieved 4 July 2022, from https://corporate.mcdonalds.com/corpmcd/our-purpos…
Student 2 Serge
ABC looks at the overhead and indirect expenses associated with products and services (Will,2020a). McDonald’s has a thorough procurement procedure in place. The method features built-in functions that can optimize raw material procurement, manufacturing operations, and distribution costs all at once (Nano pdf, 2020). McDonald’s employs ABC costing to optimize each procurement cycle, processing, and distribution cycle in order to reach the lowest cost. McDonald’s uses the ABC costing approach to combine financial and operational models in order to determine the cost of manufacturing operations as well as the cost of multiple forecasted plans.
Companies, in my opinion, should have a moderate batch size. The product will be in short supply if the batch is too small, and the product is popular. On the other hand, if the batch is too large, there will be an excess, resulting in additional costs for the company. When organizations are unsure how to order a batch, they can rely on EOQ to help them choose the optimal option. The best order amount for a corporation to buy in order to reduce inventory expenses is the economic order quantity (EOQ) (Will, 2020b).
Many fast-food establishments, such as McDonald’s and Burger King, employ the EOQ model to calculate the optimal order quantity and lowest costs. When ordering materials and products or improving the brand’s food production system, McDonald’s uses the EOQ model to identify the best order quantity and lowest cost (IvyPanda, 2019). Fast-food restaurants must order the best quantity of ingredients because the ingredients they utilize are restricted in quantity. McDonald’s optimal order quantity assists in meeting fixed demand while lowering the sum of annual ordering and inventory holding costs.
McDonald’s also employs the JIT method in addition to the EOQ system. By receiving commodities just when they are needed in the production process, JIT improves efficiency and decreases waste, lowering inventory costs (Caroline, 2020). McDonald’s adopts the JIT approach because it allows them to lower their total ordering and inventory costs. “High holding costs are the nature of the fast-food industry,” according to Studymoose (2016). Although McDonald’s cannot lower holding costs, it can cut ordering costs, thus it employs JIT in addition to EOQ to address this issue.
Caroline B. (2020, February 14). Understanding just-in-Time (JIT) inventory systems. Retrieved from https://www.investopedia.com/terms/j/jit.asp
IvyPanda. (2019, June 26). Economic Order Quantity in Operation Management. Retrieved from https://ivypanda.com/essays/economic-orderquantity-in-operation-management/
Nano pdf. (2020). McDonald\’s beefs up its supply chain and processing efficiency. Retrieved from https://nanopdf.com/download/mcdonalds-beefsup-its-supply-chain-and-processing-efficiency_pdf
Studymoose. (2016, July 19). Economic Order Quantity model (EOQ) and the Just-In-Time model (JIT). Retrieved from https://studymoose.com/economicorder-quantity-model-eoq-and-the-just-in-time-model-jit-essay
Will K. (2020a, February 10). Activity-based costing (ABC). Retrieved from https://www.investopedia.com/terms/a/abc.asp
Will K. (2020b, February 10). Understanding economic order quantity – EOQ. Retrieved from https://www.investopedia.com/terms/e/economicorderquantity.asp
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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