Proposal to Zilack Board of Directors

Assets are anything the company owns that has future value. Examples include cash, property, equipment, accounts receivable and investments. Copyrights, trademarks and patents are also considered assets. Liabilities are items or things the company owes. Some examples are accounts payable or yearly payroll and business lease costs. At Berkshire Hathaway, the two largest current liabilities at the end of its two most recent annual reporting periods are losses and loss adjustment expenses and accounts payable, accruals and other liabilities. The company’s total liabilities at the end of its two most recent annual reporting periods was (in millions), $161,334 in 2009 and $153,692 in 2008. Revenue is the amount of money a company receives during a specific period with other business and customers. Revenue is calculated by multiplying the price at which goods or services are sold by the number of units or amount sold (BKS, 2009). BHI’s revenues, or net revenues, for the last three annual reporting periods were (dollars in millions), $112,493 in 2009, $107,786 in 2008 and $118,245 in 2007.

The operations and production department is responsible for manufacturing the company’s products in a timely and efficient manner while striving for quality and perfection. Our dedicated team works around the clock in order to meet production needs as our company steadily grows; due to both the hard work of our marketing and sales department which is then complemented by our products to receive high customer satisfaction and retaining customers for future business.

The balance sheet is created to present the distribution and flow of funds by categorizing values by assets, liabilities, both current and long-term, and owners or the shareholders equity. The current assets in a balance sheet indicates the amount the company can liquidate in a very short amount of time. The Liabilities include debts and payables, while the equity totals the company’s worth by calculating the

Inventory management: Operations managers need to be able to forecast what will be needed and by when. Also, accurate documentation and locations of inventory should be made readily available to

Production and Operations Management (POM) is about the transformation of production and operational inputs into outputs that, when distributed, meet the needs of customers. The process is often referred to as the Conversion Process. There are several different methods of handling the conversion or production process: Job, Batch, Flow and Group. POM incorporates many tasks that are interdependent, but which can be grouped under five main headings: Product,

Define the terms assets, liabilities, and equity. Are these terms related in any way? If so, how?

Balance Sheet Assets Cash Inventory Accounts Receivable Property Plant Equipment Liabilities and Shareholder’s Equity Accounts Payable Notes Payable Accrued Wages Bank Loans Bonds Common Stock Retained Earnings Total Liabilities and Shareholder’s Equity

The primary goal of the operations manager is creating happy and loyal customers. By effectively analyzing and managing their business's operations, they created the right products with the right features at the right

Operations management is generally described as the planning, arrangement, and control of activities that change raw materials or an organization's input into finished products and services. The overall activities covered by operations management include the creation, development, manufacture, and distribution of products. The concept also relates to various activities such as inventory control, controlling purchases, quality control, logistics, storage, and evaluation ("Operations Management in McDonalds", n.d.). Since operations management covers the entire operations in an organization, it mainly focuses on the efficiency and effectiveness of the firm's processes.

A balance sheet can be described a financial statement that seeks to show the financial position of an organization. It shows the assets, liabilities and the equities of an organization at any given time. The assets of an organization can be described as the resources owned and/or controlled by the organization arising from past transaction and for which the organization can expect future benefits. The liabilities of an organization can be described as the obligations arising from past transaction that the company is expected to forgo future economic benefits to satisfy. Equities of an organization refer to the owners’ contribution to the organization. Equities are composed of owner’s contribution

Assets include things like cash in the bank, accounts receivable, property, equipment, inventory and furniture.

To put the things in the right perspective, let me start by giving you an overview ( the shape things to come.

• Production in charge converts the planned order to production order and carries out the production activities once the order is released for production. • Production is carried out as per the operation steps provided in the routing. • Work centers are also mentioned with each operation in the routings where these operations are to be carried out. • Once the

Operations Management can be defined as the” process which combines and transforms various resources used in the operations subsystem of the organization into value added services in a controlled manner as per the policies of the organization” [1]. It is clearly a major functional field like marketing or finance and requires adequate planning and operating strategies to ensure efficiency. Operations refer to the manufacturing and service processes that are used to transform the resources employed by a firm into desirable products [2]. Supply chain refers to processes that move information and material to and from the manufacturing and service processes of the firm [2]. The processes in Operations and Supply chain can be categorized as follows

It involves planning, organizing, coordinating, and controlling all the resources needed to produce a firm’s goods and services. Because operations management is a management function, it involves managing people, apparatus, technology, information, and all the other resources needed in the production of goods and services . The Transformation Role of Operations Management We say that operations management performs a transformation role in the process of converting inputs such as raw materials into finished goods and services. These inputs include human resources, such as workers, staff, and managers facilities and processes, such as buildings and equipment they also include materials, technology, and information. In the traditional transformation model outputs are the goods and services a company