Identify which of the statements below are true (T) or false (F). Lean businesses aim to: Reduce inspection time.
Q: Explain what is meant by the following statement: “In considering the reactions of competitors, it…
A:
Q: Which of the following is NOT a principle of lean manufacturing?a. Achieve high inventory turnover…
A: Lean manufacturing is a form of production procedure based on the maximisation of productivity along…
Q: Using accounting software is better than preparing reports manually because it is O A. less…
A: For the purpose of keeping and maintaining accounting records, two type of systems will be followed.…
Q: A business that has a low operating leverage is considered normal for highly automated manufacturing…
A: Low operating leverage is preferable only for those organizations which has low fixed costs
Q: hat way can the use of ROI as a performance measure for investment centers lead to bad decisions?…
A: ROI is the return on investment in which the there is consideration for the current year profit only…
Q: Which of the following is not a criticism of using ROI as the only performance measure?
A: ROI stands for Return on investment that shows the return earned by the company on the capital…
Q: Identify which of the statements below are true (T) or false (F). Lean businesses aim to: Produce…
A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…
Q: A determination of cost savings obtained by outsourcing cafeteria services is most likely to be an…
A: A determination of cost savings obtained by outsourcing cafeteria services is most likely to be an…
Q: What is turnover? What does it measure? Describe this in your own words. Writing a formula is not a…
A: What is the Turnover Turnover is the Gross sale made by the company. A company may selling the…
Q: Discuss some of the limitations and problems that companies may encounter when implementing a JIT…
A: JIT system refers to Just-in-time which implies that it is a method of managing the inventory. It…
Q: Explain how sensitivity analysis helps managers cope with uncertainty
A: Definition:
Q: Consultant Frank Alvarez recently commented that the mostcommon error made by his clients is…
A: Given case is: Consultant Frank Alvarez recently commented that the mostcommon error made by his…
Q: Cost calculation
A: Cost is the amount incurred in production of product, carrying out a process, conduct of sales or…
Q: A manufacturing company has been working with one of its primary suppliers to improve the quality of…
A: Cost of Quality refers to costs incurred with respect to a product to assure its quality such as…
Q: 1. Which of the following statements is true? O a Qualitative rescatch methods may enable marketers…
A: A product-orientated approach means the business develops products based on what it is good at…
Q: Which is not one of the potential advantages of decentralization? Improves motivation and retention…
A: Decentralization refers to transfer of authority from central to local government.
Q: Identify which of the statements below are true (T) or false (F). Lean businesses aim to: Reduce…
A:
Q: Why should the product and f
A: Financial stability: Financial stability can be defined as the financial condition of a company…
Q: Which of the following is not a characteristic of a good performance measurement system? Group of…
A: There are many measures used by an organization to measure the performance of its employees. The…
Q: With the aid of computer software, managers can vary assumptions regarding selling prices, costs,…
A: Sensitivity analysis is a type of financial model that estimates or determines how output is changed…
Q: How would your error affect breakeven sales and operating income under the proposed sales commission…
A: Affect of error on break-even sales and operating income:
Q: Which of these efforts or actions (i.e., changing values) requires managing quality, i.e., decrease…
A: Product production comprises all operations associated to the creation of a deliverable product,…
Q: Which statement is FALSE about product-market fit?
A: Product market fit is a strategy to find which product caters to the demand of the market. It is…
Q: Sometimes, a newly implemented AIS may not receive proper support from the users. These behavioural…
A: Change is always tough to implement since every change in the organization may be a nightmare for so…
Q: Companies enjoy many benefits of using JIT. Which is not a benefit of adopting JIT? Ability to…
A: Just-in-time manufacturing system: Just-in-time (JIT) manufacturing system is an approach to…
Q: Which of the following are features of lean manufacturing? Yes or NO a. Maintaining excess…
A: Lean manufacturing is one of the principles used by the manufacturer in order to cut the cost or to…
Q: Efficient customer service could be achieved through avoiding stock outs by making accurate A.…
A: Stock Out: The simple meaning is: When there is a demand in market for the product but the company…
Q: How would you assess the level of capabilities of Stop & Shop's use of analytics? What might the…
A: A capability level refers to the organization’s capability in relation to the process area where…
Q: List and explain some reasons companies might employ riskmanagement techniques.
A: Risk management techniques are used to reduce or manage the risk faced by the business. It helps the…
Q: Which of the following is one of the limitations of Management Accounting? Select one: O a. Lack of…
A: Management accounting is used by organizations to prepare budgets and estimates for the future. It…
Q: The purpose of internal control is to have proper control over business. Proper control means, the…
A: The purpose of internal control is to have proper control over business. Proper control means, the…
Q: Which of the following is not a benefit of using RFID technology: Select one: a. Increasing labour…
A: RFID is a type of wireless transmission in which an item, animal, or human is uniquely identified…
Q: What does a consistently negative responsibility marginimply will happen to the operating income of…
A: The revenue less occurred variable costs(VC) and also the traceable fixed costs(FC) could result in…
Q: Companies enjoy many benefits from using JIT. Which is not a benefit of adopting JIT? a. Ability to…
A: Just-in-time manufacturing system: Just-in-time (JIT) manufacturing system is an approach to…
Q: Describe an adverse selection problem a company is facing. What is the source of the asymmetric…
A: When one party in a transaction has more or better information than another. Generally, this type of…
Q: Identify the following as applying more to lean (L) or to traditional (T) businesses. Quality…
A: Lean business model: This model is used by business with lower cost and high quality grows rapidly.
Q: Use your own word to explain heuristics and In a business context,how would heuristics lead to poor…
A: Heuristic approach: Heuristic approach refers to a problem-solving approach that considers…
Q: The following describes the benefits of having a sound enterprise- wide Risk Management System…
A: Enterprise wide risk management have benefits of Manage performance variability Enhancing business…
Identify which of the statements below are true (T) or false (F). Lean businesses aim to: Reduce inspection time.
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Solved in 2 steps
- Company X sees a disruption in its supply chain at the same time it sees a decrease in customer demand. What do we know for certain?Identify the following as applying more to lean (L) or to traditional (T) businesses. Quality control is only at product completion.Briefly explain why firms might use nonfinancial performance measures.
- Which of the following are features of lean manufacturing? Yes or NO a. Maintaining excess inventory to ensure that products will always be available b. Cross-training of employees c. Giving employees additional authority and responsibility d. Product-oriented layout e. Increased setup timeWhat is turnover? What does it measure? Describe this in your own words. Writing a formula is not a sufficient answer. Name one specific way a manager could improve turnover. This will demonstrate your understanding. Explain why your idea would have a positive effect on turnover?“A customer-profitability profile highlights those customers a company should drop to improve profitability.” Do you agree? Explain.
- Which TWO of the following can big data analytics be used for? To ensure decisions are based on data free from bias To aid decisions on appropriate product development To inform management of what will happen in the future To forecast conditions which impact costsIn what way can the use of ROI as a performance measure for investment centers lead to bad decisions? What can be used to help overcome this problem?Explain with an example why managers find it difficult to adopt a decision alternative even when the relevance cost analysis shows the superiority of this decision alternative to maximize operating income over other decision alternatives. What might the company do to reduce the pressure on management and decrease the ethical conflict?
- Which is a disadvantage of an enterprise resource planning (ERP) system? Helps companies adjust to changes. Can replace separate software systems. Can reduce operating costs. Implementation requires a large commitment of time and people.Efficient customer service could be achieved through avoiding stock outs by making accurate A. Costs B. Sales C. Discounts D. ForecastsWhich of the following is an advantage of a newly installed Enterprise Resource Planning (ERP) system? Select one: A. As data is entered once only, it becomes easier to detect accuracy and completeness errors B. They typically cost very little to implement C. Accountability and responsibility may be less clear which often improves employee morale D. Information may be accessed across organisational functions assisting with better decision making