NATURE OF OPERATIONAL AUDIT • Also known as management audits and performance audits. • Conducted to evaluate the effectiveness and/or efficiency of operations. • Examinations of all or part of an entity to determine the degree of its operational efficiency‚ effectiveness and economy. • Also refers to the auditor’s study of business operations for the purpose of making recommendations about economic and efficient use of resource‚ effective achievement of business objectives
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3. Annual demand for a product is 13‚000 units; weekly demand is 250 units with a standard deviation of 400 units. The cost of lacing an order is $100‚ and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.65 per unit. To provide a 98 percent service probability‚ what must the reorder point be? Suppose that the production manager is told to reduce the safety stock of this item by 100units. If this is done‚ then what will the new service probability
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Deciding on Organ Transplant Priorities Thinking in terms of equality‚ all people should be able to get health care in matters of life and death. However‚ while there are some people who believe that terminally ill patients who have abused their bodies should not be eligible for organ transplants‚ some others feel that it is unfair to deny life-saving help to another human being. Anyway‚ other citizens are worried about society’s limited number of donor organs and limited economic resources
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global‚ cross-functional team at Cisco Systems‚ Inc. was seeking the green light to start manufacturing a new router‚ code-named Viking. The team faced a number of challenges in launching the low-cost but powerful router for telecommunications service providers. After overhauling the project to sharply increase the router’s planned speed and capacity‚ the company had just one year to launch the product‚ an unusually fast schedule. In addition‚ Viking team was proposing that manufacturing be launched in
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“All managers should be leaders‚ but not all leaders should be managers.” Do you agree or disagree with this statement? Support your position. Yes‚ I agree about that. Let’s talk about what is manager and what is leader first? Manager is someone who coordinates and oversees the work of other people so that organization goals can be accomplished. Leader is someone who can influence others and who has managerial authority. There is difference between leaders and managers. Managing is about efficiency
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Problem 3: Operations managers are called upon to support the organization’s strategy. OM does this with some combination of one of three strategies. What are these three strategies? ANSWERS: Problem 1: a. A major storm or hurricane may have considerable impact on a company’s facilities and scheduling. Flooding and wind damage can make a facility unusable or significantly reduce its capacity. Stocks of raw materials‚ especially agricultural products‚ might be damaged or in
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Strategy Report | A New Product for Happiness and Its Marketing Strategy | | Andy Sun | 12/17/2012 | Professor Yoo MKT203 Marketing Analysis and Management | CONTENTS Executive Summary……………………………….……………………...…………………3 1. Introduction………………………………………………………………….……………3 1.1 The Company…………………………………………………………………....………...3 1.2 The Product ...............
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¬¬¬CHAPTER I OPERATIONAL FEASIBILITY This chapter discussed the factor that affects the overall operational study of the payroll system of AMA Computer College‚ Legazpi City. It shows the brief background and current situation of the institution. It also includes the discussion on project objectives‚ system responsibilities and the scope limitations of the proposed feasibility study. BACKGROUND OF THE STUDY As computer technology changes at such fast phase‚ many business sectors try to cope
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Running head: OPERATIONAL ANALYSIS Operational Analysis Ashford University Public Financial Management PPA602 Instructor: Ronald Fitzgerald June 03‚ 2013 Operational Analysis “Meals on Wheels” is a great organization that was originally developed to help out servicemen during WWII. It then continued its roots by serving Philadelphia in the 1950s as a home-delivery program serving those that are hungry. The focus since the 70s has been to serve senior citizens who
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Operational Efficiency & Operational Optimization Sa – Situation Anlysis Pa – Problem Analysis Da – Decission Analysis Pa – Probabilty Analysis 1) Suppose that a peak harvest-season day involves 18‚000 barrels of berries‚ 70% of them wet harvested‚ arriving uniformly over a twelve-hour period from 7 a.m. to 7 p.m.‚ and process initiates as soon as the first truck arrives. a) At what time during the day‚ would the trucks start queuing up to upload? Answer:
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