Critically evaluate the relationship between lean and agile strategies in managing logistical costs. Support your answer with suitable examples
Answers
Lean and agile are two manufacturing methodologies that are well-known for improving production efficiency and reducing costs. They are both proactive approaches that share a similar aim of providing consumers with high-quality products at the lowest possible price.
There is a strong link between lean and agile practices, which can help supply chain managers improve logistical costs. While lean seeks to eradicate waste, agile methods emphasize adaptability and fast response. Companies that have successfully implemented these methodologies have benefited from a more efficient and effective logistics system that supports their overall business strategy.
According to market research, organizations with an effective lean and agile supply chain save between 10 and 30 percent on overall logistical expenses. Implementing these strategies has a number of advantages, including increased customer satisfaction, shorter lead times, better communication with suppliers and partners, and increased capacity utilization.For example, Lenovo was able to save $20 million in logistics costs by implementing an agile supply chain that uses real-time data to predict consumer demand.
Similarly, Amazon's lean supply chain approach includes the use of robotics and automation to reduce inventory levels and shorten delivery times.To summarize, lean and agile strategies have a strong connection that can help organizations reduce logistical costs.
Their integration can result in a more efficient and effective logistics system, enabling companies to save on overall expenses, improve customer satisfaction, and achieve their overall business goals.
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Related Questions
1) Pick one lecture material (O2O, Product Placement
1.....) and briefly write your thoughts about that.
2) two-page length
Evaluation standards: logicality, expression, creativity
Answers
Product placement in movies strategically embeds branded products within film narratives to enhance brand visibility and influence consumer behavior, effectively leveraging the power of storytelling and audience connection.
Title: Product Placement in Movies: A Strategic Marketing Approach
Product placement in movies has emerged as a powerful marketing tool, strategically embedding branded products within film narratives to enhance brand visibility and influence consumer behavior. This lecture material delves into the significance of product placement, its impact on audience perception, and the key considerations for successful integration.
Product placement serves as a logical marketing approach, capitalizing on the power of storytelling and the emotional connection viewers have with films. It enables brands to reach a wide and captive audience, effectively integrating their products into the narrative context. By aligning with popular movies and influential characters, brands can enhance their brand image, increase brand recall, and potentially drive consumer purchase intentions.
The material expresses the nuances of product placement in an informative and engaging manner, highlighting the various strategies employed by marketers to ensure successful integration. It emphasizes the importance of seamless integration, avoiding overt commercialism, and maintaining authenticity to resonate with audiences.
Creatively, the lecture material explores the dynamic nature of product placement, showcasing innovative examples and case studies.
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Changes in the asset lives and salvage value are changes in accounting
Answers
As a change in an accounting estimate, the anticipated useful life or salvage value of a long-lived asset must be recorded prospectively under ASC 250-10 in the period of the change and subsequent periods.
What is salvage value?The book value of an asset after all depreciation has been fully expensed is known as the salvage value.
An asset's salvage value is determined by what a business anticipates getting in return for selling or dividing it up after its useful life has passed.
For instance, if a company's machinery has a lifespan of five years but only has a worth of $5,000 at the conclusion of that time, the salvage value is $5,000.
A change in a long-lived asset's estimated useful life or salvage value is a change in an accounting estimate and needs to be reported prospectively under ASC 250-10 in the period of change and subsequent periods.
Therefore, as a change in an accounting estimate, the anticipated useful life or salvage value of a long-lived asset must be recorded prospectively under ASC 250-10 in the period of the change and subsequent periods.
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Correct question:
Changes in the asset lives and salvage value changes in accounting _____.
Question 2 (5 points)
(03.01 LO
A special type of goal that acts as a stepping stone for other goals is called
a
an inner-term goal
a mid-term goal
Ос
a part-term goal
a short-term goal
Answers
The provisional goal is the special type of goal that acts as a stepping stone for other goals.
The provisional goal is called a stepping goal.
The provisional goals acts as the stepping-stones to the larger goals. Usually, the provisional goals are completed in less than a month.The provisional goals requires the employee to focus on a daily basis and are sometime used for technical improvements.In conclusion, the Option E is correct because the provisional goal is the special type of goal that acts as a stepping stone for other goals.
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Answer: (D) A short term goal.
Explanation: A short term goal is something you can make and get done the next or same day. This means that this goal can easily have others bounce on top of it. If you can get it done quickly, you can do many others.
1. Why is career education so important for teens?
Answers
One method for estimating the cost of equity is based on the ______ model. Multiple choice question. prime growth prime and LIBOR average bond plus equity premium dividend growth
Answers
One method for estimating the cost of equity is based on the dividend growth model.
The dividend growth model is a fundamental analysis approach to determining the net present value of an investment based on the theory that its stock is worth the sum of all of its anticipated future dividend payments when discounted back to their present value. The dividend growth model is a way to calculate the cost of equity, which is the return required by shareholders to compensate them for the risk of holding the stock. The model's formula is as follows:
D1 / (k - g) where:
D1 is the expected dividend per share for the next year
k is the cost of equity
g is the constant annual growth rate of dividends
Therefore, There are various methods for calculating the cost of equity, and the dividend growth model is one of the most common. As a result, we can conclude that the answer to this question is dividend growth.
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Define the terms:
- Scarcity
- Choice
- Opportunity cost
- Efficiency
- Inefficiency
Answers
Answer:
Scarcity: In short supply of
Choice: Making a decision
Opportunity Cost: The loss of one aspect of a decision with the benefit of another
Efficiency: Being efficient and accurate as well as reliable
Inefficiency: Not being effective and wasting resources or time
the process that allows evidence to be used in court of law and considered by a jury is: a. admissibility b. discoverability c. service d. litigation
Answers
The process that allows evidence to be used in a court of law and considered by a jury is admissibility. Hence, option A is correct.
What is admissibility?being deemed good and acceptable in a court of law He intended to argue against Paul's admission of guilt. Attorneys for the defense disputed the admissibility of fingerprint evidence.
A person or object that is permitted or accepted is what is meant by the concept of acceptable. An example of someone who is admitted is someone who is permitted entry into the VIP area of a club. An instance of admissible is evidence that is allowed into a judicial proceeding.
Thus, option A is correct.
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Any one duty of Human Resource Manager
Answers
Recruitment: Search for new qualified people
explanation: it means like to get new people to join company if there are vacancies
why does spaghetti taste good?
Answers
Answer:
cuz why not,its bery taesty
. A tomato farmer has used direct distribution to sell to local consumers through an area farmers' market. Last year, she sold 400 bushels of tomatoes at $2.49 a pound. (There are 53 pounds in a bushel of tomatoes.) This year she is considering using an indirect channel by selling to two area supermarkets. She estimates that she can sell 650 bushels at $1.63 a pound. What will be the difference in revenue if she makes the change? What other factors should the farmer consider before changing to indirect distribution?
Answers
Answer:
the farmer's total revenue when she uses the direct channel = 400 x $2.49 = $996
if she uses the indirect channel, her total revenue = 650 x $1.63 = $1,059.50
her total revenue will increase when selling to he supermarkets, but also her variable production costs will increase. This means that it is probable that her total contribution margin decreases even if total revenue decreases.
The farmer's total revenue when she uses the direct channel is $996 and the difference in revenue if she makes the change will be $63.5
What do you mean by Total revenue?
Revenue is the total amount of sales of goods and services. It is calculated by multiplying the total amount of goods and services sold at the price of goods and services.
Total revenue when she uses the direct channel is $996
\(\rm\, Total \,Revenue = 400 \times \$2.49 \\\\\rm\, Total \,Revenue = \$996\)
If she uses the indirect channel, her total revenue is $1,059.50.
\(\rm\,Total \,Revenue = 650 \times \$1.63\\\\\rm\,Total \,Revenue = \$1,059.50\)
The difference in revenue between direct selling and indirect selling:
\(\rm\, \$1,059.50 - \$996 = \$63.5\)
The farmer's total revenue will increase when selling to the supermarkets, but also her variable production costs will increase which has to be kept in mind while choosing indirect selling.
Therefore, the farmer should keep the variable factor costs in mind before selecting indirect selling as the revenue might increase but the percentage of increase probably may not be high.
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Monsanto sells genetically modified seed to farmers. It needs to decide how much seed to put into a warehouse to serve demand for the next growing season. It will make one quantity decision. It costs Montanso $8 to make each kilogram (kilogram) of seed. It sells each kilogram for $45. If it has more seed than demanded by the local farmers, the remaining seed is sent overseas. Unfortunately, it only earns $3 per kilogram from the overseas market (but this is better than destroying the seed because it cannot be stored until next year). If demand exceeds its quantity, then the sales are lost—the farmers go to another supplier. As a forecast for demand, it will use a normal distribution with a mean of 300,000 and a standard deviation of 100,000. Use Table 13.4.
Answers
Monsanto should put 344,000 kilograms of seed into the warehouse to improve the expected profit.
The costs Montanso = $8
Selling price = $45
Overseas market price = $3 per kilogram
Mean = 300,000
Standard deviation = 100,000
The profit function is given by:
Profit = Revenue - Cost
Profit = (Price sold x Quantity sold) - (Cost x Quantity produced)
Expected Profit = P(Demand < Q) * Profit when demand is less than Q + P(Demand >= Q) * Profit when demand is greater than Q
Expected Profit = P(Z < (Q-300,000)/100,000) * ((45 * min(Q, 300,000)) - (8 * Q)) + P(Z >= (Q-300,000)/100,000) * ((45 * Q) + (3 * max(0, (300,000-Q))))
Expected Profit = (45 - 8) * P(Z < (Q-300,000)/100,000) - (45 - 3) * P(Z >= (Q-300,000)/100,000) = 0
37 * P(Z < (Q-300,000)/100,000) = 42 * P(Z >= (Q-300,000)/100,000)
P(Z < (Q-300,000)/100,000) = 42/79
(Q - 300,000)/100,000 = 0.44
Quantity = 344,000 kilograms
Therefore, we can conclude that Monsanto should put 344,000 kilograms of seed into the warehouse to improve the expected profit.
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The present value interest factor for an annuity with an interest rate of 8 percent per year over 20 years is ____.
Answers
The present value factor of an annuity that will mature in 20 years at an interest rate of 8% is 9.8181474.
What is the present value interest factor?It can be found by using the present value of an annuity formula of:
= Amount x ( 1 - ( 1 + rate) ^ - number of periods) / Rate
As there is no amount, solving gives:
= ( 1 - ( 1 + 8%) ⁻²⁰) / 8%
= 9.8181474
In conclusion, it is 9.8181474.
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Mark sutton needs an installment loan of $24500 for home remodeling. He can obtain a loan at an APR of 11% how much could mark save in finanace charges if he took out the loan for 54 months instead of 60 months?
Answers
If Mark took out the loan for 54 months rather than 60 months, he might save $518.44 in interest costs.
What exactly does the term "loan" mean?A loan is a financial transaction in which a lender provides money or other assets to a borrower, with the expectation that the borrower will repay the borrowed amount, usually with interest or other fees, within a specified period of time. Loans are typically used to finance large purchases or investments that the borrower cannot afford to pay for all at once, such as a home, a car, or a business.
To calculate how much Mark could save in finance charges, we first need to calculate the finance charges for the original 60-month loan and the 54-month loan.
For the original 60-month loan, the finance charges can be calculated as follows:
Calculate the monthly interest rate: 11% / 12 = 0.9167%
Calculate the monthly payment: $508.85
Calculate the total amount paid over 60 months: $508.85 x 60 = $30,531
Calculate the finance charges: $30,531 - $24,500 = $6,031
For the 54-month loan, the finance charges can be calculated as follows:
Calculate the monthly interest rate: 11% / 12 = 0.9167%
Calculate the monthly payment: $574.96
Calculate the total amount paid over 54 months: $574.96 x 54 = $31,049.44
Calculate the finance charges: $31,049.44 - $24,500 = $6,549.44
To calculate the difference in finance charges between the two loans, we simply subtract the finance charges for the 54-month loan from the finance charges for the 60-month loan:
$6,031 - $6,549.44 = -$518.44
So if Mark took out the loan for 54 months instead of 60 months, he could save approximately $518.44 in finance charges.
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Data collection, database management, and data visualization are the
steps a research analyst takes before starting their research
steps a data scientist takes before determining usable results
practices a data analyst must use to be credible
none of the above
Help me with this
Answers
Data collection, database management, and data visualization are the: C. practices a data analyst must use to be credible.
What is data?Data can be defined as a representation of instructions or factual information in a formalized manner, especially as a series of binary digits (bits).
Who is a data analyst?A data analyst can be defined as an expert or professional who is saddled with the responsibility of inspecting, transforming, and modelling data with the sole aim of discovering useful information, providing insights, and creating informed conclusions, so as to support decision-making.
In conclusion, the three (3) main practices a data analyst must use in order to be credible include the following:
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which statement is true about registering a marketing officer of an investment adviser as an investment adviser representative (iar) with the state? a the marketing officer of an investment adviser is not registered as an iar b the marketing officer of an investment adviser will be automatically registered when the investment adviser registration is filed in the state c the marketing officer of an investment adviser is only required to register if the firm is a federal covered adviser d the marketing officer of an iar must file a registration application that is independent of the investment adviser registration application
Answers
The statement "The marketing officer of an Investment Adviser will be automatically registered when the Investment Adviser registration is filed in the State." is true.
Give a brief account on Investment Adviser.A financial adviser or advisor is a specialist who offers clients financial services based on their financial circumstances. In many nations, in order to give advice, financial advisors must undergo particular training and register with a regulatory organization. A financial adviser in the US must pass the Series 7 and Series 66 or Series 65 qualifying exams. the United States Qualification classifications, compliance concerns, and Financial Industry Regulatory Authority (FINRA) must be disclosed to the public. Information about official compliance issues is available on the Investment Adviser Public Disclosure (IAPD) website, and information about informal compliance issues is available on Onesta. Brokers, investment advisers, private bankers, accountants, attorneys, insurance agents, and financial planners are among the groups allowed to use the phrase "financial advisor," according to FINRA. The complete picture of the client's financial status must be taken into consideration by financial counselors.
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the figure below shows supply and demand curves for a good that imposes a positive externality on society of 4 dollars per unit produced and consumed. what is the deadweight loss if the government gives a 4 dollar subsidy per unit to each buyer?
Answers
In this scenario, the deadweight loss becomes zero as the subsidy perfectly compensates for the externality, thus allowing the market to reach the socially optimal outcome.
What is the deadweight lossWhen a good imposes a positive externality on society, it means that its consumption generates additional benefits beyond those enjoyed by the consumer.
In this case, the positive externality is valued at $4 per unit produced and consumed. The supply and demand curves in the figure represent the private costs and benefits of the good.
However, due to the positive externality, the social benefits are higher than the private benefits. By providing a $4 subsidy per unit to each buyer, the government effectively internalizes the positive externality, aligning the private benefits with the social benefits.
As a result, the demand curve shifts rightward, leading to a new equilibrium point with a higher quantity produced and consumed. This increase in production and consumption reduces the deadweight loss associated with the positive externality.
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Type the correct answer in the box. Spell all words correctly.
Which cost is dependent on production volume?
_____ cost is dependent on production volume.
Answers
Answer:
Variable costs
Explanation:
Variable costs are dependent on production output. The variable cost of production is a constant amount per unit produced. As the volume of production and output increases, variable costs will also increase.
Answer:
Variable cost
Explanation:
Brenda and Louise are twin sisters who each married 20 years ago. Brenda and her husband run a small piano tuning business. They have had a small, loyal customer base, and their modest but adequate income has not changed over time. Louise and her husband each work for a corporation, and their incomes have steadily increased over the last 20 years allowing them to increase their standard of living. Assuming that Brenda and Louise began their married lives equally happy, and based on their income histories alone, what would you predict about the subjective well-being of Brenda and Louise today
Answers
Answer: Probably, still happy
Explanation:
People measure success differently, and what makes an individual happy may not be applicable to another, some person's gain satisfaction in doing their own business, while some prefer working for other people. This is why there isn't any specific measure for people's success. Concerning Brenda and Louise, there is a great possibility that they are happy in their various endeavors, having chosen a particular career part and stuck to it for years. This doesn't mean they won't have challenges but means they are happy where they are.
To what extent does the payment of commission motivate workers?
Answers
Answer: Encourages employees to work harder
Explanation:
Highly talented professionals in sales and marketing get more out of commission-based pay since their income relies on how hard they work. The more sales they make, the more generous their compensation will be compared to their less motivated counterparts.
The yield curve spread between the 10-year t-bond yield and the federal funds rate is a _______ economic indicator.
Answers
The yield curve spread between the 10-year t-bond yield and the federal funds rate is a leading economic indicator.
What is an economic indicator?This is the term that is sued to refer to the macroeconomic indicator that helps the economic analysts to be able to understand and carry out the future economic activities that would be done in the area. It helps to also recognize opportunities.
Hence we can say that the yield curve spread between the 10-year t-bond yield and the federal funds rate is a leading economic indicator.
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The best way to obtain all of your education history including grades, course history, and credits earned is to request a
O diploma
transfer
O transcript
O report card
Answers
What piece of information would an appraiser not find in the subject and contract sections of the report?
Answers
The subject and contract sections of an appraisal report contain important information about the property being appraised and the details of the contract or agreement related to the appraisal.
However, the appraised value, which is the estimated value of the property, is not typically included in these sections.
The appraised value is usually found in the valuation section of the appraisal report. This section is where the appraiser analyzes the data collected, such as comparable sales, market trends, and property characteristics, to determine the estimated value of the property.
To summarize, an appraiser would not find the appraised value in the subject and contract sections of the report. Instead, the appraised value is typically included in the valuation section, where the appraiser analyzes the data and provides an estimated value for the property.
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To what extent can bid-rent theory be used to accurately determine where crops are grown with the way that today's food system is organized in developed countries such as the USA
Answers
Bid-rent theory can be greatly used to accurately determine where crops are grown, this includes a selection of farmland for planting crops.
What is bid rent theory?The bid rent theory is an economic theory that is geographical, it is how the price and demand for real estate changes as the distance from the main business center increases.
Bid theory can help determine the maximum amount of food or crops by knowing the total area of land that is currently used for farmingIt can also be used to determine the available land for farming i.e where crops can be grown through surveys. How much profit can be also be determined in part by land costs.Therefore, bid-rent theory can greatly help to accurately determine where crops are grown.
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Yair explains to an attorney that he wants some of his assets to be released to his grandson when his grandson turns 18 years old. What should the attorney do next?
A. Write a will
B. Release the assets
C. Create a trust
D. Name an executor
Answers
Answer: create a trust
Explanation:
I took the quiz
The attorney should do next as asked by Yair to create a trust in the name of his grand son.
Option C is correct.
What is a trust?A trust is a lawful act where the owner allowed his/her related party to get the benefits and rights acquired by the owner.
According to the situation, the attorney has to create a trust in the name of Yair. He gives the permit of his assets and properties to his grand son when he attains the age of 18 years old.
Therefore, the correct option is option C.
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Mark wrap with the 20 minute hold time, and any special guest requests.
Answers
which of the following is not a good reason to form a family partnership? multiple choice no gift tax is due on the transfer non-voting interests can be given to younger family members to ensure the older generation maintains operational control a buy-sell agreement can ensure that all ownership interests are retained in the family income can be shifted to lower-tax-rate individuals
Answers
The reason that is not a good reason to form a family partnership is: no gift tax is due on the transfer.
Forming a family partnership can be an effective way to manage and transfer family assets, but it's important to understand the reasons and implications behind such a decision. While the other three options provided (non-voting interests, maintaining operational control, and income shifting) can be valid reasons for forming a family partnership, the statement "no gift tax is due on the transfer" is not a sufficient reason on its own. The formation of a family partnership should not solely be motivated by avoiding gift taxes. While transferring assets through a family partnership may have gift tax benefits, the primary focus should be on the operational and strategic aspects of the partnership, such as maintaining control, succession planning, and tax efficiency.
Family partnerships are typically formed to facilitate effective management and control of family-owned assets, provide a framework for generational transfers, and ensure continuity in the family business or wealth management. Non-voting interests can be given to younger family members to gradually involve them in the partnership's operations while maintaining control with the older generation. A buy-sell agreement can help establish a mechanism for the smooth transition of ownership within the family. Income shifting to lower-tax-rate individuals can be achieved through proper tax planning and structuring.
In summary, forming a family partnership should be based on the strategic and operational needs of the family, rather than solely focusing on avoiding gift taxes. Gift tax implications should be considered as part of a comprehensive approach to family wealth and business management.
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The Office Supplies account had a $590 debit balance on December 31, 2014; and $2,680 of office supplies were purchased during the year. The December 31, 2015, physical count showed $696 of supplies available.
Answers
Based on the information provided, we can determine the amount of office supplies used during the year by following these steps:
1. Determine the initial balance: The Office Supplies account had a $590 debit balance on December 31, 2014.
2. Add the purchases made during the year: $2,680 of office supplies were purchased during the year.
3. Calculate the total available supplies: $590 (initial balance) + $2,680 (purchases) = $3,270
4. Determine the supplies available at the end of the year: The physical count on December 31, 2015, showed $696 of supplies available.
5. Calculate the amount of supplies used during the year: $3,270 (total available supplies) - $696 (supplies available at the end of the year) = $2,574
So, the amount of office supplies used during the year is $2,574.
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Why is Rent to Own a Rip Off?
Answers
situation 1 situation 2 situation 3 situation 4 agi (excluding property transactions) $40,000 $50,000 $60,000 $70,000 stcg 6,000 2,000 5,000 6,000 stcl 2,000 5,000 4,000 15,000 ltcg 3,500 15,000 10,000 9,000 ltcl 2,500 4,000 12,000 4,000'
Answers
In this scenario, we have four situations (1, 2, 3, and 4) with different amounts of AGI (adjusted gross income), STCG (short-term capital gains), STCL (short-term capital losses), LTCG (long-term capital gains), and LTCL (long-term capital losses).
1. In situation 1, the AGI is $40,000, STCG is $6,000, STCL is $2,000, LTCG is $3,500, and LTCL is $2,500.
2. In situation 2, the AGI is $50,000, STCG is $2,000, STCL is $5,000, LTCG is $15,000, and LTCL is $4,000.
3. In situation 3, the AGI is $60,000, STCG is $5,000, STCL is $4,000, LTCG is $10,000, and LTCL is $12,000.
4. In situation 4, the AGI is $70,000, STCG is $6,000, STCL is $15,000, LTCG is $9,000, and LTCL is $4,000.
These numbers represent the amounts of income and capital gains/losses for each situation. The AGI is the total income, excluding property transactions. STCG and LTCG are the gains from selling assets held for short-term and long-term respectively, while STCL and LTCL are the losses from selling those assets. These numbers are used to calculate tax liabilities, deductions, and net gains or losses.
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The panama canal expanded to accommodate larger container ships in 2016. Which effect will this new infrastructure most likely have on patterns of world trade and food distribution?
Answers
The Panama Canal expanded to accommodate larger container ships in 2016. It will affect the cost of food transport, changing shipping routes and making a trade with different end markets more or less desirable.
The 48-mile-long (77 km) International waterway known as the Panama Canal allows vessels to pass between the Atlantic Ocean and the Pacific Ocean, saving about 8000 miles (12,875 km) from a journey around the southern tip of South America, Cape Horn. After an intensive construction program (2009-2016), the Cocoli and Agua Clara Locks added a third lane to the Panama Canal for the transit of Neopanamax vessels.
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