...Life Styles Inventory Assignment Traya Ransom ransomtj@verizon.net MGMT591 – Leadership and Organizational Behavior Brett Gordon November 11, 2012 This paper discusses the content Life Styles Inventory (LSI) results for Traya Ransom. It identifies her primary, backup, and limiting thinking styles, the impact her personal styles have on her management style, and it also explains how she developed the personal styles that were reveled in her LSI. The LSI results are shown on page 5. Primary, Backup and Limiting Styles Traya’s primary style is Achievement, with a percentile score of 99. This thinking style describes a person who has confidence in their ability to improve situations and is not afraid to take action. They are able to inspire confidence in others. Achievers set realist goals and usually able to obtain high quality results. On her job, this style is manifested often in the way she distributes work to her employees. She is able to identify their strengths and weaknesses and utilize this knowledge to obtain the best outcome. As a result her employees work with confidence because of their high degree of success. Therefore, Achievement style is an accurate description of Traya. Traya’s secondary style is Self-Actualizing, with a percentile score of 93. This thinking style describes creative people who have great sense of personal fulfillment. Self-actualized people enjoy living in the moment. They take the time to develop themselves and are intuitive. This style...
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...Ruiz Embry-Riddle Aeronautical University MGMT 312 August 19, 2013 The company owned by MGMT 312 manufactures custom-order holiday decorations and display items. Currently the company is using a periodic inventory system and is not satisfied with the timeliness of its information and its inventory management. The following paragraphs outline a proven system known as job order cost accounting that will generate timely and accurate inventory information. Job order cost accounting is used by many businesses that have to meet the specific needs of multiple customers by producing or performing custom jobs. There are still companies out there that rely on a general accounting system which consists of periodic inventories, this does not benefit them due to many discrepancies involved with these types of inventories. A cost accounting system records using a perpetual inventory system. This system continuously updates the records such as costs of materials, goods in process, and finished goods inventories. Under a job order cost system, costs are allocated to each job or batch of goods; at all times each job or lot of goods can be independently identified. A job order cost system measures costs for each completed job, rather than for set time periods. Most stores today use this system as an inventory tool, so when an item is scanned and sold the system automatically removes the item from the store inventory and sends this data to the central store hub...
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...Supply Chain Mgmt – Peter J. Metz A process-oriented, integrated approach to procuring, producing, and delivering end-products and services to customers. It includes sub-suppliers, suppliers, internal operations, trade customers, retail customers, and end-users. It covers the management of materials, information, and funds flows. JIT uses the kanban system to manage the pull production system and help coordinate the production and movement of parts and components between processes to avoid excesses or shortages. JIT requires confidence that the supplier chain will meet commitments It is important to understand that kanban works within the framework of JIT to manage flow. This means that a company cannot achieve JIT without some form of kanban. Conversely, if a company is not pursuing JIT or a lean environment, kanban is not likely to succeed. We will look at a few points regarding the lean environment in the next section. Inventory mgmt. • Order point (OP). An established inventory level that when reached, signals the need to issue a replenishment order • Safety Stock (SS) A quantity of inventory planned to be on hand to protect against fluctuations in demand • Lead Time (LT) The time required to replenish inventory. This is normally measured as the number of days from when the order point is broken, to receipt and put-away of the corresponding replenishment order. May include order processing time, supplier lead time, and receipt and put away time. Traditional approach...
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...Scorecard (BSC) Transfer prices (TP) – calculation of prices, which method was used? Incentive systems Control levers to manage risk PM&CS as control levers The Case Content Background Company information Centralized company Franchised dealer and authorized service center for Ford, Saab and Volkswagen The dealership was situated in an upstate New York town with a population of about 20.000 The company maintains its competitiveness by providing full services to its customers. Owned as a corporation by George Liddy and Andrew Jones. Mr. Liddy focused on new and used car sales, while Mr. Jones concentrated on managing the parts, service, and body shop departments. Industry information Information Aggressive discounting High inventories More educated customer Proliferation of new entrants...
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...Todd Diller Dr. Min MGMT 4420 February 23, 2015 Sandusky Winery Case Problem Analysis At Sandusky Winery, there seems to be several issues going on within the company’s operations, resulting in a huge inventory mess. The first issue I have noticed is the eagerness of Sandusky Winery’s marketing department. The marketing department wanted to expand product lines and aggressively promote its new products, without taking storage and warehousing into consideration. This high level of production has resulted into a massive surplus of product that has the storage room packed from the floor to the ceiling. The main issue is the poor inventory management. The stock room is filled from the floor to the ceiling with a variety of old wine products and promotional items, including ones from 1996 Summer Olympics. This problem is causing the production manager to take time out to locate the inventory manager, so they can find storage space for these leftover products from previous promotional runs. Some of these items had temperature requirements that were not met when they were left outside a facility in a boxcar, resulting in a loss of product. They often reduce their inventory and storage space by purging their less popular products, resulting in a loss. Sandusky managers their inventory with an “earn and turn” process that does not identify their most popular products or control the excessive supply of unpopular products. Sandusky Winery is limited on additional storage/warehousing...
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...financing relating to upgrading the existing properties, buying the Calgary property, or building the conference centre Training related to improving services in upgraded hotels Various issues associated with Calgary hotel being considered for purchase Occupancy rates lower than benchmark hotels suggesting image management issues at existing properties Ethical and control issues within the current operations and the possible Calgary purchase Lack of independence in current board Opening a new warehouse to serve the Ontario and Quebec stores Lack of independence in current board Cash flow issues caused by need to repay loan to shareholder Succession planning Budgeting relating to offering new products Budgeting relating to opening new stores Inventory valuation for financial reporting Various ethical issues relating to operating the current stores Lack of incentive compensation systems Concepts/Tools Examined Net present value CCA analysis Mark to market financial accounting issues Profit analysis Opportunity cost Financing Asset valuation Restrictive covenant in current financing agreement Financial statement (ratio) analysis HR issues relating to implementing performance evaluation and incentive compensation systems Opening new stores in BC, Alberta, and Ontario Expansion into collectible plates Expansion into DVD sales CML (May 2008 Case Examination) CCA Analysis New product profit analysis Net present...
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...MGMT-325 September 21, 2015 Assignment #2 When the owner of Wolf Peak International decided to upgrade from QuickBooks to another program he did it without consulting any individuals in finance. At the time of the decision upgrade, Wolf Peak International had no financial professionals in house. One of the main problems with the upgrade from QuickBooks was the lack of a user-friendly interface; it became nearly impossible to extract any of the necessary data needed for operations. The development of reusable reports was not only difficult but time consuming and expensive. Lack of understanding and training led the company to hire IT experts to perform these tasks, many of these reports had not been returned even months after their commission. To top off these troubles history from prior years stored in QuickBooks could not be converted and used with their new accounting package, employees could not access any of the information they wanted. All of these problems could have been avoided with some careful consideration and review before purchase. If the owner would have researched and looked for a user-friendly program with more capabilities that was highly reviewed by financial professionals, he could have saved himself a lot of time, grief, and money. SAP’s Business One was an exponentially better choice for Wolf Peak International. This program was user-friendly, it automates critical operations like sales, finance, purchasing, inventory and manufacturing. Business One...
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...Automobile Industry Current Issue: In terms of sales, 2014 saw fluctuating fortunes for the industry with stretches of decline followed by consecutive rise before falling in October again Besides sales decline, the industry also faced a number of challenges in the form of abundant vehicle recalls, and censure for safety issues. Solution: FMEA, Root cause analysis, Quality checks and Improvement processes, World-class technology (like in Germany and Japan), setting up targets/benchmarking with those competitors can be in place Demand Mgmt: The challenge here is that the period is fairly long (typically one month) relative to how fast market conditions (e.g., gas prices, the stock market) can change. Solution: Four major elements of demand: – prediction – communication – influence – prioritization and allocation * checking inventories twice a month. * prioritize orders for cars that are already sold to customers over cars that will just sit on a dealer’s lot * a highly structured operations planning system (with advanced planning and scheduling and ERP) that is more akin to a push approach Product Development: Vehicle development is expensive, time-consuming, and risky. Costs to design, engineer, and tool a major new model can reach into the billions of dollars Solution: looking for ways to reduce development time and cost to improve profitability and to better react to market changes,Performance measures and efficiency analysis for product variety Risk...
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...Financial Statement Ratios Activity ratios: Indicate efficiency and effectiveness of operations and asset management Asset Turnover: Sales Average Total assets Inventory Turnover: COGS Average Inventory Days in inventory: 365 Inventory turnover Accounts Receivable turnover: Credit sales Average accounts receivable Days in Receivables: 365 A/R Turnover Accounts payable turnover: Credit purchases Average Accounts payable Days in payables: 365 A/P turnover Operating cycle: Days in inventory + Days in A/R – Days in A/P Liquidity ratios: Indicate ability of the firm to meet short-term obligations Working Capital: Current Assets – Current Liabilities Current Ratio: Current Assets Current Liabilities Quick Ratio: Cash + Receivables + S/T Investments Current Liabilities Defensive Interval Ratio: Cash + S/T investments + A/R (COGS + SG&A + R&D)/365 This ratio provides a measure of a firm’s ability to operate using its available cash and near cash assets. This will give you the number of days the firm can operate with available quick assets. Solvency ratios: Indicate the ability of the firm to meet long-term obligations Debt to assets ratio: Total Liabilities Total Assets L/T Debt to assets ratio: L/T Debt Total assets Debt to equity: Total Liabilities Total equity You also can use S/T debt + L/T debt in the numerator ...
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...implications: aggregation, sorting, linking, contrasting… provision in “decision points” Knowledge – information within contextual structure – contextual structure: inter-related information, added value of the generic structure of experiences, contextual process structure and/or insights – implications: tends to be personal, implicit 6 / 21 2 ט"ו/אדר/תשע"ה The basic services of information systems Transaction Processing (TP): – Key concepts: event capture data – Organized around process and feedback – Examples: bidding on courses, purchasing a product, paying a bill Decision Support (DS): – Key concepts: information decision action – Organized around a decision situation – Examples: classroom assignment, inventory re-order, cash-flow planning 7 / 21 TP and DS are very different TP DS Use Mandatory voluntary...
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...SWOT and inventory mgmt. analysis/REAL GAME Max 40 points. Return this group assignment to Tuubi by 18.10. Assignment 1. SWOT Analysis, max 20 points SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis can be used as part of a marketing plan, helping to produce meaningful recommendations. The first half of the the analysis – strengths and weaknesses – examines the company’s position or the position of its products, in regard of customers, competitor activity, environmental trends and company resources. The second half of the SWOT takes the review further to examine the opportunities and threats identified and to make recommendations that feed into company strategy. The marketing environment analysis often reveals probable opportunities and threats. The result of the SWOT analysis should be a thorough understanding of the organization’s status and its standing in its markets. A SWOT analysis must be objective, with evidence provided to support the points made. Analyze the data in the game on your computer and in the excel-graphic in Tuubi and list your strengths, weaknesses, opportunities and threats in the table below and ALSO in written text giving more explanations. |Your company’s strengths |Opportunities for your company | | |Low interest rates ...
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............................................................................................... 7 What are the next steps for CPFR? ............................................................................................................... 7 Page 2 of 8 WHAT IS CPFR? Collaborative Planning, Forecasting and Replenishment (CPFR) is a tool used to enhance the supply chain that should optimally yield in lower inventories, logistic costs and create efficiency in the whole supply chain to all participants. CPFR uses cooperative management in sharing key information about the supply chain between suppliers and retailers (sellers and buyers) who work together to satisfy the needs of the end customer. The origins of the model date back to 1995 initiated by Wal-Mart, Cambridge University and software and strategy firm Benchmarking Partners, after which it was introduced to Voluntary Interindustry Commerce Standards Committee (VICS) to be the international standard. Today over 300 companies have implemented the model and numerous case studies show inventory...
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...Chapter 11 Work system design: 1__Job design- Technical (able to do it), Economic (value must be added), Behavioral (feels good about doing it) Feasibilities Labor specialization- higher specialization = narrow scope of expertise, usually more boring Eliminating boredom- Enlargement (more tasks, horizontal expansion), Job Enrichment (vertical expansion, schedule own work, test own output), Rotation (expose to other jobs) Team Approach- Problem solving teams (small group with operational expertise, ID analyze and solve), Special Purpose task forces (Issues of major significance, cross functional team, when assignment is done team is over), Self Directed team (team defines goals) Self Managed team (source outside of a team defines goals) Methods analysis- Figure out what to analyze(quality/productivity issues,), communicate with workers, watch and try to figure new way to do it. OSHA- occupational safety and health act to assure workers have good conditions, working conditions effect productivity, output quality, and saftey 2__Work measurements – how long should it take to do a job? Time Studies (Manufacturing)- Steps: 1. Chose specific job to be studies 2. Tell the worker who you are studying 3. Break job into recognizable units 4. Calculate the number of cycles you must observe by using sample data n=[(z/a)(s/x)]2 (n=# of observations, z= # of std dev at desired confidence, a=desired accuracy, s=std dev from sample, x=mean from sample) 5. Time each element, record times...
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...------------------------------------------------------------------------------------- page 4 Efficiency --------------------------------------------------------------------------------------- page 4 Liquidity ---------------------------------------------------------------------------------------- page 4 Financial Gearing ------------------------------------------------------------------------------ page 4 Investment -------------------------------------------------------------------------------------- page 5 Working Capital problems ------------------------------------------------------------------- page 5 Management of trade receivable ------------------------------------------------------------- page 6 Management of trade inventory -------------------------------------------------------------- page 6 Operating cash cycle (OCC) ------------------------------------------------------------------ page 6 Evaluation of Ventura plc proposal --------------------------------------------------------- page 7 Evaluation for four alternative sources of external finance ------------------------------- page 7 Business angels --------------------------------------------------------------------------------- page 7 Government assistance ------------------------------------------------------------------------- page 8 Leasing listing ----------------------------------------------------------------------------------- page 8 Alternative investment market (AIM) -...
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... Operations Management Literature Review and Critique Introduction Supply Chain Management is the combined set of practices, policies and frameworks that represent the relationship and the working dynamics between manufacturing, supplier, wholesaler, retailers and other supporting entities like warehouses, distributors etc. that enables final goods and services to reach the customers in the desired quantities and at the desired time (Heizer and Render, 2014). There are many parts or sub-components of the supply chain gamut that makes organzation operations effective and deliver goods and services in time. This literature review assesses and critiques quality management, inventory management and Just in time (JIT) and lean operations. All these topics are integral in attaining smooth SCM functions and activities in any organization. Various books, academic journals and perspectives of different authors have been referred to, in order to compile this paper. Quality Management and Supply Chain In layman language we understand quality as a highly desired feature, anything that is of high quality is in high demand, argues Fahey (2004) and more often than not, anything that is high in quality is high in price too, cites the author. Quality is thus one of the features that measure the goodness or desirability in a product and service that organizations produce or create. Casadesus and Castro (2005) cite that quality in tangible or manufacturing sectors implies a measure...
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