Which of the following statements is true with respect to the performance metrics useful for productivity improvement?
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A: ANSWER: OPTION (4) is the correct answer.
Which of the following statements is true with respect to the performance metrics useful for productivity improvement?
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- Which of the following is not a characteristic of nonfinancial performance quality indicators?a. They relate to physical processes and therefore focus attention on precise problem areas in needof attention.b. They can provide immediate feedback on whether quality-improvement efforts have succeededin improving quality.c. They are typically less expensive to obtain compared to cost-of-quality (COQ) data.d. They are predicted by a set of relevant financial indicatorsThe customer perspective of the balanced scorecard approach is the most traditional view of the company. evaluates the internal operating processes critical to the success of the organization. evaluates how well the company develops and retains its employees. evaluates how well the company is performing from the viewpoint of those people who buy its products and services.Creating Balanced Scorecard (BSC) for the company name "Afterpay" : Financial Perspective Customer Perspective Internal Processes Perspective Learning and Growth perspective
- Wellplace Insurance Company processes insurance policy applications in batches of 100. One day, they had eleven batches to process and, after inspection, it was found that four batches had nonconforming policies. One batch had seven nonconformances, another had two, another had one, and another had five nonconformance. a. What was the proportion nonconforming for each batch? Round your answers to two decimal places. The proportion nonconforming for the first batch: The proportion nonconforming for the second batch: The proportion nonconforming for the third batch: The proportion nonconforming for the fourth batch: b. What was the nonconformance per unit (NPU) in total for the eleven batches? Round your answer to three decimal places. Total nonconformances per unit for all batches:match each variable types with its description: variables: Process input variable, Process output variable, Critical to quality, Key process output variable, Key process intput variable, description (a) a product or process requirement that is no matter to the customer (b) a product or process knob or control that affects characteristics of importance to the customer (c) a product or process knob or control that has no impact on the process (d) a product or process requirement that must be present to make the customer happy but that the customer does not know to explicitly specify (e) a product or process requirement specifically requested by the customer‘AS IS’ (existing) business process in your firm and model the process. You are to note the following conditions for the task: The identified process must be Cross-functional which should include not less than four (4) decision points (Gateways). Make sure you list all the steps in the identified process before modeling. Describe how information systems could be used to improve the “AS IS” process Remodel the ‘AS IS’ process to “TO BE” (modified) process after identifying improvement with the Information systems.
- Suppose that the Mendenhall Corporation, a producer of women’s handbags, has determined that a 73 percent experience curve accurately describes the evolution of its production costs for a new line. If the first unit costs $100 to produce, what should the 10,000th unit cost based on the experience curve?Process Redesign is concerned with increasing the performance of processes without changing the order of activities within the process or fundamentally changing the activities themselves. focuses on eliminating costs works to find ways to eliminate activities within a process. is concerned with improving performance by changing the order of activities or fundamentally changing the activities themselves.1) S1: In the pioneer years of the balanced scorecard development, innovation process was the same from internal processes. S2: Customer value is important to measure from time to time in order to identify change trends. Both statements are incorrect Only S1 is incorrect Both statements are correct Only S1 is correct 2) S1: A balanced scorecard contains both customer and internal business process performance measures since improvements in customer satisfaction should result in improvements in internal business processes. S2: Different companies, having different strategies, should have different balanced scorecards even if they are in the same industry. Both statements are incorrect Only S1 is incorrect Both statements are correct Only S1 is correct
- Which of the following are plan quality tools and techniques? (select all correct answers) Benchmarking Risk data quality analysis Flowcharting Cost-benefit analysis Cost of qualityTombro Industries is automating one of its plants and developing a flexible manufacturing system. In an effort to revise its performance measurement system, the company gathered the following data for the last four months: Quality control measures: Number of defects Number of warranty claims Number of customer complaints Material control measures: Purchase order lead time Scrap as a percent of total cost Machine performance measures: Machine downtime as a percentage of availability Use as a percentage of availability Setup time (hours) Delivery performance measures: Throughput time Manufacturing cycle efficiency (MCE) Delivery cycle time Percentage of on-time deliveries Month 1 2 3 4 191 169 130 91 52 45 36 33 108 102 85 64 10 days 9 days 7 days 5 days 2% 2% 3% 6% 5% 6% 6% 10% 95% 92% 89% 85% 10 12 13 14 ? ? ? ? ? ? ? ? ? ? 96% 95% ? 92% ? 89% The president read in industry journals that throughput time, MCE, and delivery cycle time are important measures of performance, but no one is…A management concept under which all managers and employees at all stages of company operations strive toward higher standards and a reduced number of defective units is called: a. Continuous Improvement b. Total Quality Management (TQM) c. Theory of Constraints (TOC) d. Total Quality Control (TQC)