2. Lean Principles The chief executive officer (CEO) of Platnum Inc. has just returned from a management seminar describing the benefits of the lean philosophy. The CEO issued the following statement after returning from the conference: This company will become a lean manufacturing company. Presently, we have too much inventory. To become lean, we need to eliminate the excess inventory. Therefore, I want all employees to begin reducing inventories until we make products "just-in-time". Thank you for your cooperation. To implement lean, a company must first remove the reasons for excess inventory. All of the following are reasons except: a.poor quality b.large setup times c.unreliable equipment d.poor employee relationships e.worker's unions

Ladbrecks was founded by members of the Ladbreck family in the 1880s. The first store opened under the name Ladbreck Dry Goods. Building on its history of excellence in customer service, the company initiated its performance-based incentive plan to support its stated firm-wide strategy of "customer emphasis" with "employee empowerment." Management expected it to result in further enhancement of customer service and, consequently, in an increase in sales generated at its stores. The plan was implemented in stores sequentially as company managers intended to examine and evaluate the plan's impact on sales and profitability. By the end of 1994, ten stores had implemented the plan. In 1995, ten more stores implemented the plan, bringing the total to 20 out of a total of 50. Management decided to call you in to provide an independent assessment. While the company thought that sales had increased with the plan's implementation, the human resource department did not know exactly…

Mr. Josh Kho, the operations manager of Achos Merchandising Corp. Is worried about the result of its operation this year. Although the accounting dept. has not submitted the financial statements yet, the following data where already available pertaining to year 2020.   Total number of units sold at P50 per unit price 120,000 units Total fixed costs and expenses P1,600,000 Variable cost rate 60%   Because of other pressing problems, he hired you to give him information and computation that will help him plan for the next year operation. He specifically wants the following (with proofs, if possible):   Break-even point in peso sales and in units The margin of safety in peso, in units and in percentage If the profit this year will be doubled next year, how much sales should be realized? If the number of units sold next year, exceeds the break-even point by 50,000 units, what is result of the operation? If management projects a profit of P1,200,000 after the…

The Protek Company has been growing very fast, but profitability has declined from 11.85% to 2.36% in just two years.  Costs have increased faster than sales and expenses are out of control.  The Board of Directors has appointed Bob Smith to come up with some recommendations that are likely to help get the situation under control.  He has made the following suggestions, but has hired you to actually put the numbers into proforma statements to present to the Board at their next meeting. Income Statement The company will slow down the growth of sales to 15% for the next year (20X4). Bob does not see any easy fixes to the cost of good sold situation, so those will go up 15% in line with sales, leading to the same gross margin percent as this past year. Bob has decided that the budgets for the Marketing and Research and Development departments should be exactly the same dollar amount as in 20X3. He feels that imposing that particular discipline to the Marketing Department will be good for…

Categorize each of the following activities as to which management responsibility it fulfills: planning, directing, or controlling. Some activities may fulfill more than one responsibility. (Select an "X" in the input field if the management responsibility is fulfilled. If the management responsibility is not fulfilled, leave the input field empty.) Question content area bottom Part 1 Activity Management Responsibility Planning Directing Controlling a. Management decides to increase sales growth by 20% next year. b. Management analyzes the impact of a recent advertising campaign by comparing budgeted sales to actual sales. c. Management reviews hourly sales reports to determine the level of staffing needed to staff the customer service desk. d. Management uses information on product costs to determine sales prices. e. To lower production costs, management moves production to China.

Transitioning from employee to manager has been exciting for Matthew! He enjoys having the responsibility and authority to make decisions, and it is rewarding to join the management team, sharing insights to make better decisions. One of his first responsibilities is to address the DM purchases budget. The company has a strong relationship with its current supplier, but the quality of the supplier's DM has declined. Knowing this, Matthew has already reached out to a different vendor to see what kind of a deal it might offer. The DM information for Matthew's division and for each vendor just described is as follows. ● ● ● ● ● (a) DM on hand as of July 1 slightly exceeds expectations at 1,580 linear board feet. Each unit requires 4 linear board feet; Matthew is most comfortable if the company has 20% of the following month's production needs on hand. The cost per linear foot is $5.50 with the current supplier; it's $6.00 with the new vendor. Planned production for July is 1,900 units;…

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Top management of a large multinational corporation wants to create a culture of innovativeness and change. A consultant hired to assess the company's organizational culture finds that only 15% of employees are open to new ideas and approaches toward their work. One of his recommendations for the company is to conduct seminars for employees in order to disseminate and reinforce the new corporate philosophy. This is done for a six month trial period after which its value in changing employee attitudes will be assessed. a) Write the null and alternative hypotheses. b) Based on data collected after the trial period, the company constructed a 95% confidence interval for the proportion of all employees open to new ideas and approaches toward their work. The resulting interval is 18% to 22%. What conclusion should the company reach about the seminars?

c. Which of the following correctly identifies a risk facing SSC that might adversely affect sales during the coming years? Multiple Choice A general slowdown in the economy. Sales to many smaller customers other than Wingo Corporation. Increased attention to developing new products. A board of directors dominated by management. pdf Untitled docume....pdf *led d ocume