To simplify the expression, we can first cancel out common terms in the numerators and denominators:

(11/14) (11/7) (14/11)
= (11 11 14) / (14 7 11)
= 169 / 98

Next, we simplify the second part of the expression:

(31/7) 4/8
= (31 4) / (7 * 8)
= 124 / 56

Finally, we multiply the two simplified fractions:

(169/98) (124/56)
= (169 124) / (98 * 56)
= 20956 / 5488

Therefore, the final simplified expression is 20956/5488.