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- What is more important, a quality product or excellent customer service?You have been hired as a Cost Accountant by Sundial, Inc., which produces sunglasses. Your duties include developing cost standards for materials and labor, designing and implementing cost accounting systems, defining various product and operational costs, analyzing production costs and recommending changes. When the trial period is over, you will have a performance review to demonstrate the completed tasks and gained knowledge. You have read the Cost of Quality Report of Sundial, Inc. and discovered that quality costs constitute 4.2% of sales. The amount is enormous, and your boss asks you to develop a set of measures to reduce it. Sundial, Inc. Cost of Quality Report For the Year Cost of Quality Percent of Sales ($32,000,000) Prevention costs $160,000 0.5% Appraisal costs $192,000 0.6% Internal failure costs $576,000 2.8% External failure costs $416,000 1.3% Total cost of quality $1,344,000 4.2% 1. How would you define…You have been hired as a Cost Accountant by Sundial, Inc., which produces sunglasses. Your duties include developing cost standards for materials and labor, designing and implementing cost accounting systems, defining various product and operational costs, analyzing production costs and recommending changes. When the trial period is over, you will have a performance review to demonstrate the completed tasks and gained knowledge. You have read the Cost of Quality Report of Sundial, Inc. and discovered that quality costs constitute 4.2% of sales. The amount is enormous, and your boss asks you to develop a set of measures to reduce it. Sundial, Inc. Cost of Quality Report For the Year Cost of Quality Percent of Sales ($32,000,000) Prevention costs $160,000 0.5% Appraisal costs $192,000…
- Is there a relationship between key performance indicators in the supply chain and the processes that generate them?After engaging with the relevant employees from the supply chain management department, you have identified that your manufacturing company has been experiencing challenges in rolling out a total quality management program. As their supply chain managing director, elaborate on the various quality costs and discuss how a Total Quality Management Programme implementation can be used to enhance quality improvement to avoid these types of costs in the near future. Use relevant examples to justify your answer.You have been offered a job as a research assistant at a university in Australia. You are required to provide high quality publications in business journals. Required: Based on the knowledge acquired from class, discuss the steps that you should take to ensure these publications are free from common errors.
- My product is called "The Perfect Cup." It is a reusable coffee cup that helps people save money and reduce waste. Conduct a SWOT analysis for your product. Strengths: What are the positive internal factors for your product? Examples could be a new, innovative product or service; location of the company; quality processes and procedures; or any other aspect that adds value to your product or service. Weaknesses: What are the negative internal factors for your product? Examples could be undifferentiated products in relation to your competitors; location of the company; poor-quality goods or services; or a damaged reputation. Opportunities: What are the positive external factors that could influence your product? Examples could be mergers; joint ventures or strategic alliances; new market segments; international markets; or a market vacated by an ineffective competitor. Threats: What are the negative external factors that could influence your product? Examples could be new competitor in…For the strength and opportunities listed below. Create one section for matching strengths to opportunities. Discuss how the company can use the strengths to capitalize on the opportunities. You should discuss every single identified opportunity. Strength: It has a solid foundation of trustworthy raw material suppliers, allowing the business to get around any supply chain bottleneck Neiman Marcus products have a consistent level of quality due to the successful automation, which also allows the business to scale up and down in response to market demand. Neiman Marcus Group also developed a solid distribution network through time that can cover most of its prospective market. Opportunities: Less inflation makes the market more stable and makes it possible for Neiman Marcus Group consumers to obtain loans at cheaper interest rates. The business has made significant financial investments into the web platform over the last few years. With this investment, Neiman Marcus Group now has…You have been appointed as a production manager of a garments manufacturing company. After you joined the company you have found that a lot of cloth materials are being wasted. Actually some of these wasted materials could be sold, but it is being thrown out as garbage. Many tailors make mistake in their stitching methods which reduces their output. The raw materials purchased from few suppliers are expensive. All these issues were creating losses for the company. After you took charge as a production manager, you told all employees to save all cloth waste material and sell it and get money for the company. You arranged training for the employees and that helped in increasing the production output and profit for the company. Also you have changed the suppliers and saved lot money for the company. The company got impressed with you and praised your hard work and you got a good name in the company Explain the ethical steps that you have taken to reduce the loss for the…
- You have been appointed as a production manager of a garments manufacturing company. After you joined the company you have found that a lot of cloth materials are being wasted. Actually some of these wasted materials could be sold, but it is being thrown out as garbage. Many tailors make mistake in their stitching methods which reduces their output. The raw materials purchased from few suppliers are expensive. All these issues were creating losses for the company. After you took charge as a production manager, you told all employees to save all cloth waste material and sellit and get money for the company. You arranged training for the employees and that helped in increasing the production output and profit for the company. Also you have changed the suppliers and saved lot money for the company. The company got impressed with you and praised your hard work and you got a good name in the company. One day you wanted to buy a TV and one of your supplier sells TV, so you pay money and buy…Mention a diagram of a customer-supplier chain that includes at least four organizations. What attributes of quality are required at each link in the chain? How does quality at the beginning of the chain influence the quality at the end?Discuss how either good or poor quality affects you personally as a consumer. For instance, describe experiences in which your expectations were met, exceeded, or not met when you purchased goods and services. Did your experience change your regard for the organization and/or product? How?