Anchoring

CIOP online sessions are conducted in a well-organized manner. The online sessions are conducted on Saturdays, between 7:00 PM and 10:00 PM (Indian Standard Time). There will be two breaks during the session. First break at 8:00 PM for 15 minutes and the second break at 9:00 PM for 10 minutes. The participants will join the program through the link sent to them well in advance and they get reminder notifications. First reminder a day before the session and the second reminder one-hour before the session. The participants will be able to see the presentation and the writings of the faculty at the same time. The faculty delivers the program through a smart board and the participants will be able to access both the presentation used by the faculty and his notes at the ends of the session through Fhyzics’ Learning Management System (LMS).

It has been said that the whole supply chain starts with the'Anchoring Effect'. In business the term 'Anchoring' means that you start with a goal in mind and then design a process to achieve it. 

If you were to sit down and create a mission statement for your business, you would not start with what your company will do but rather what it will do with the tools and resources that are available to it. An example of a resource would be a warehouse. If the raw materials needed to start the manufacturing process are not available, the manufacturer would need to rent a warehouse or lease a facility. The manufacturer has no idea what resources it will use until it is presented with an option at the beginning of the process.

When two groups enter the supply chain, there are two implications that arise from the anchoring effect. One set of resources is fixed for the duration of the entire process. The other set of resources is flexible depending upon the needs of each of the two groups. The second group of resources is known as the'Anchoring Group and can be used as the starting point for the process or additional inputs can be solicited from this group to increase functionality.

There is considerable debate about the relationship between the stimulus package and the anchoring phenomenon. Some economists feel that the economy was in a depression long before the package was announced and believe that the package was not designed to solve the unemployment problem. However, most economists believe that the package increased demand and competition between companies and this in turn led to increased employment. There are two major effects of the stimulus package that can be classified as either demand-side or non-demand-side effects.

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