P7-What type of data could be used to monitor the performance of a restaurant such as McDonald's P8-What measures or actions would be used to improve the consistent quality and speed of preparing fast food for customer
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P7-What type of data could be used to monitor the performance of a restaurant such as McDonald's
P8-What measures or actions would be used to improve the consistent quality and speed of preparing fast food for customers
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- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Check if all right. Which one is wrong about time horizons. Medium/long range forecasts deal with more comprehensive issues and support management decisions regarding planning and products, plants and processes. Short-term forecasting usually employs different methodologies than longer-term forecasting. Short-term forecasts tend to be more accurate than longer-term forecasts Economic forecasts: Address business cycle - inflation rate, money supply, housing starts, etc What is the objective of process design? The objective is to create umbrella term for manufacturing processes that use irregular production schedules to create several different products using one production line. The objective is to create high degree of product flexibility The objective is to create facilities are organized around specific activities or processes The objective is to create a process to produce offerings that meet customer requirements within cost and other managerial constraints What is benefit of…1. The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Part 2 Week Of Pints Used August 31 350 September 7 372 September 14 412 September 21 381 September 28 366 October 5 378 Part 3 a) The forecasted demand for the week of October 12 using a 3-week moving average LOADING... = _____________pints (round your response to two decimal places).
- Residents in one housing development were asked a series of Residents in one housing development were asked a series of questions by their homeowners’ association. Identify the type of data for each question. a. Did you play golf during the last month on the development’s new golf course? b. How many times have you eaten at the country club restaurant during the last month? c. Do you own a camper? d. Rate the new security system for the development (very good, good, poor, or very poor). Residents in one housing development were asked a series ofDiscuss how the advantages of using simple regression could benefit the organization.Is a knowledge of statistics required to use business intelligence (BI) tools? In what way would this be useful?
- Does operations with different forecasting conditions have different types of decisions? What are these? What are they?The purpose of the balanced scorecard is best described as helping an organization: translate an organization’s mission and strategy into a set of performance measures that help to implement the strategy introduce innovative products and services desired by target customers mobilize employee skills for continuous improvements in processing capabilities, quality and response times develop customer relationsWhat is the connection between forecasting and quality control?
- Q1. The elimination or minimisation of waste from activities within enterprises is an important element of most performance improvement methods. Explain then main types of waste and give examples of how these wastes can be hidden with the normal operations of a firm. Q2. A local manufacturing firm which produces make to stock high added value products for the pharmaceutical industry has recently been requested by its owner to provide a proposal on the benefits of a predictive performance model and methodology from a workshop that you have recently completed. You are requested to produce the following report:1. Review the current state of the practice of performance management and reporting within this category of firms.2. Suggest a suite of appropriate key performance measures.3. Explain the benefits and challenges of an Ex-Ante or PredictivePerformance Demand Model approach to enterprise performancemanagement.4. Recommend a methodology on how this type of Enterprise PerformanceModel…4 .Substitute for Problem # 4 on in attachment)-Calculate the MAD,revised MAD and the Revised Forecast for months 1-6 for the following three groups,where the Forecast stands for Forecast Demand.Has your forecast improved ? Tell me how would you go about improving the revised forecast( for each of the three groups)without actually doing so? Estate Planning Group Auditing and Accounting Group Business Consulting Group Month Actual Demand Forecast Actual Demand Forecast Actual Demand Forecast 1 100 125 270 230 140 135 2 90 125 240 230 130 135 3 110 125 280 230 160 135 4 115 125 260 230 180 135 5 130 125 300 230 200 135 6 115 125 220 230 190 135What is the strategic importance of forecasting for a business such as One Stop Car Repairs? What are the possible challenges faced by organizations that do not utilize forecasting in the planning of their operations?
