Discuss the importance of using Balance Score Card in management control system
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Discuss the importance of using Balance Score Card in management
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- list one example related to the use of statistics to improve a process.Explain the following financial tools used for control. Include an explanation of each of their value in business planning. financial statements balance sheet income statement audits (internal and external)Name and explain one graphical technique for measuring data.
- example of the USES of Statistics, AND one practical example of the ABUSES of Statistics.Management control definition? Briefly explain the important roles played by management control in a business.Suppose you are senior production manager of a company which produces beverage (carbonated soft drinks) of all flavors. The company is operating since 10 years. You and your production team follow all of the SOP’s (Standard operating procedures) while producing the beverage. You have noticed that while producing the beverage for the 1st quarter of 2021 the artificial color added to beverage is little intensive as compare to previous productions. Artificial color used in limited proportion doesn’t not harm the health of consumers but this time it is accidentally little intensive which can have some side effects. Q1) As a senior production manager what managerial actions you should take to control the situation?
- Suppose you are senior production manager of a company which produces beverage (carbonated soft drinks) of all flavors. The company is operating since 10 years. You and your production team follow all of the SOP’s (Standard operating procedures) while producing the beverage. You have noticed that while producing the beverage for the 1st quarter of 2021 the artificial color added to beverage is little intensive as compare to previous productions. Artificial color used in limited proportion doesn’t not harm the health of consumers but this time it is accidentally little intensive which can have some side effects. Q1) As a senior production manager what managerial actions you should take to control the situation? Q2) What do you think can be the consequences if correct managerial action is not taken on time?Suppose you are senior production manager of a company which produces beverage (carbonated soft drinks) of all flavors. The company is operating since 10 years. You and your production team follow all of the SOP’s (Standard operating procedures) while producing the beverage. You have noticed that while producing the beverage for the 1st quarter of 2021 the artificial color added to beverage is little intensive as compare to previous productions. Artificial color used in limited proportion doesn’t not harm the health of consumers but this time it is accidentally little intensive which can have some side effects. What do you think can be the consequences if correct managerial action is not taken on time?Explain the basics of process control and the basis for choosing the type of process control.
- What type of time-series components would you expect for the following products and services?a. Monthly sales of a retail florist.b. Monthly sales of milk in a supermarket.c. Daily demand in a call center.Management of Mittel Rhein AG of Köln, Germany, would like to reduce the amount of time between when a customer places an order and when the order is shipped. For the first quarter of operations during the current year the following data were reported: Inspection time- 0.7 daysWait time (from order to start of production) -16.6 daysProcess time -2.7 daysMove time -1.3 daysQueue time- 4.5 daysRequired:1. Compute the throughput time. (Round your answer to 1 decimal place.) 2. Compute the manufacturing cycle efficiency (MCE) for the quarter. (Round your answer to the nearest whole percentage (i.e., 0.12 should be entered as 12).) 3. What percentage of the throughput time was spent in non–value-added activities? (Round your answer to the nearest whole percentage (i.e., 0.12 should be entered as 12).) 4. Compute the delivery cycle time. (Round your intermediate calculations and final answer to 1 decimal place.) 5. If by using Lean Production all queue…1. Define and indicate the purpose of the following items: e. Refrigeration Temperature Monitoring f. Stockroom Temperature Monitoring g. Room Temperature Monitoring please provide reference ;>