Respond to the following statement: 1) "Appraisal cost would be high so wait for Failure Cost.” 2) Human factors can never be underestimate in operation management whether automation exist
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Respond to the following statement:
1) "Appraisal cost would be high so wait for Failure Cost.”
2) Human factors can never be underestimate in operation management whether automation exist
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