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The relationships between budget targets and performance evaluation procedures of HCC Industries

Ideally, the relationship between budget targets and performance evaluation procedures in any profit making organization is always quite close. The HCC Industries, therefore, are no exception. This is owed to the fact that it is the extent to which the targets of an organization are being met that defines the level of performance of that particular organization. Profit is one major tool that was used to evaluate the performance of HCC Industries. Profit was the most important criterion that was…...

Toyota production system analysis

Introduction The success of Toyota Motor Company is due to the unique reduction systems that focus on continuous improvement and just in time management. Toyota has created a decentralised structure that encourages employee participation and team working. Toyota incorporated concepts just as supply chain management and inventory management to create high quality automobiles and gain a competitive edge in the highly competitive global automobile market. Toyota’s success and its lean manufacturing philosophy have been widely studied. The Toyota manufacturing system is…...

PRODUCTION OPERATIONS & MANUFACTURING PROCESSES OF LABSA

Sulphonation – The Process Most electrophilic substitution reactions are irreversible but sulfonation is an exception. Treatment of benzene with "oleum" (a solution of SO3 in concentrated sulfuric acid) will give the sulfonic acid, the electrophilic species being sulfur trioxide which is Lewis acidic. Fig – 1 Sulphonation : Benzene equation The sulfonic acid can be converted back by treatment with hot aqueous acid. The reason for this reversibility is the fact that the Wheland intermediate is overall neutral and therefore…...

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Mass Marketing and Mass Customization

1. Stragetic Marketing In its strategic role, marketing concentrates on company's intentions in a market and the means and timing of recognizing those objectives. The tactical role of marketing is rather various from marketing management, which deals with establishing, executing, and directing programs to attain designated objectives 1.1 Principle of tactical marketing As shown above, the marketing function dips into various levels in the company. At the corporate level, marketing inputs (competitive analysis, market characteristics, and ecological shifts) are vital…...

Zara Postponement Strategy

Introduction In order to compete in the world of rising globalization and shortening of product life cycle nowadays, firms have to deal with the demand for increasing product variety to meet the diverse needs of customers. Mass customization has become a requirement for many businesses especially in the dynamic, fast-changing industries. However, the more product varieties, the more difficult it is to forecast demand, control inventory and manufacture. Therefore, some innovative companies have integrated “postponement” strategies with their supply chain…...

Improvement of Lean Operations in Manufacturing

To what extent could or should Deane expect to apply the philosophies and techniques of JIT/Lean to the running of a staircase cell Staircases Production Company (SPC) is a small, successful, privately owned timber and building materials company based in a small city in the UK. The company offers a wide variety of timber products, from regular doors, windows and staircases to special products such as non-standard sections or special profiles (i.e. old designs of skirting board). Its products stand…...

The Market for Lemons About Quality Of Product

The Market for "Lemons": Quality Uncertainty and the Market Mechanism discusses the problems and effects of asymmetric information within a market. Asymmetric information occurs when a seller knows more about the product than the buyer. When the seller withholds important information from the buyer, such as if the good is in proper working order, it creates dishonesty in the market, which drives honest sellers and buyers away. Akerlof understands that the cost of dishonesty can be detrimental as it may…...

Plant layout

Outline of Contents: What is Plant layout? Necessity of good layout Factors affecting good layout Principles of good layout Advantages of good layout Symptoms of poor layout Types of layout What is PLANT LAYOUT? Plant layout refers to the arrangement of physical facilities such as machines, equipment, tools, furniture etc. in such a manner so as to have quickest flow of material at the lowest cost and with the least amount of handling in processing the product from the receipt…...

The Tao of Timbuk2

According to the case study, The Tao of Timbuk2, the Timbuk2 bag is indestructible and it is common for it to outlive jobs, personal relationships, etc. The website allows the customer to design the bag exactly how the customer would like it. Timbuk2 awards their customers a lifetime warranty on all their products. If there is a defect in the materials or workmanship, Timbuk2 will repair or replace the bag. A key competitive dimensions driving sales for Timbuk2 is that…...

Natural and Organic Products

ABSTRACT This study aims to use used cooking oil as shoe polish rather than just throwing it away (which can cause drainage clogging). Calamansi juice is also added to add more viscosity to the product. This study also promotes natural and organic products. INTRODUCTION Oil is one of the basic needs in our home. Yet, it is very expensive nowadays. Now, as a student researcher, I want to conduct an experiment on how to use used cooking oil in a…...

Wriston Manufacturing Case Writeup

Financial Analysis Selling the plant would cause immediate cash inflow of $4,000,000 and $6,000,000 loss from employee termination. While this does net in a $2,000,000 loss, this option results in the highest net present value for Wriston Manufacturing. In this option the Detroit products are segmented into three groups and redistributed to other factories. Group 1 products are sent to Lancaster, and Group 2 products are sent to Lima, while Group 3 products are terminated. This plan yields a net…...

Critique of a Toy for Child Development

LEGO 750 BRICKS BOX TOY The toy I have chosen is the LEGO 750 BRICKS BOX TOY. This toy is good for children of ages 2 to 6 years, it allows for free play and helps children to be creative, it helps develop their learning skills and is good for their hand to eye co-ordination which also which also increase their physical and intellectual development ( Ellis flood 2010 Child Development for students in Ireland Dublin Gill & Macmillan )…...

Cooper Industries Corporate Business Strategy

Q1. What is Cooper’s corporate strategy Cooper Industries’ main corporate strategy is broad diversification through M&A. Cooper Industries acquired firms in order to lessen its dependence on cyclical natural gas industry and to exhibit stable earnings. Cooper Industries acquired firms that had stable earning, a broad customer base and proven manufacturing operations using well-known technologies. Cooper Industries had a good corporate level strategy of diversification. Copper Industries acquired both related and non-related businesses. As a result, Cooper Industries could exhibit…...

Spoilage and Inventory Management - Quiz

Direct manufacturing labor20 Allocated manufacturing overhead 80 $160 Final inspection of Job 911 disclosed 100 defective units and 50 spoiled units. The defective instruments were reworked at a total cost of $12,000, and the spoiled instruments were sold to a jobber for $3,000. If the costs associated with spoilage and reworked units are considered as normal to manufacturing operations, the unit cost of the good units produced on Job 911 is (Points : 6) $165. $164. $162. $160. 2. (TCO…...

Functional Product and Innovative Product

What is “functional product”, and what is “innovative product?” We can use the nature of product demand to classify whether a product is a functional product or an innovative product. With different product characters, supply chain management method that managers should choose will also be varied. Functional products are products that people buy in wide range of retail outlets, and those products have more stable and predictable demand, as well as long life cycles. For example, most of kitchen utensil…...

Case Study: Lean Implementation at Siemens' Kalwa Plant

1.0 EXECUTIVE SUMMARY & COMPANY BACKGROUND Briefly, in this case we glimpse on Kalwa Planet-Siemens in India which improve itself from a traditional organization to lean management structure. The first Siemens work shop started on May 1st, 1955 in a small place on Mumbai with 10 employees and with very simple equipment’s. Their main business is fixing damaged switch boards and other fabrication jobs which most of their components were imported and small number of them produced inside workshop. In…...

Management Approach of Daewoo General Motors International

Q 1. What are the advantages and disadvantages of a hands-off, decentralized management approach? Advantages of Decentralization Decentralization will not work unless you really delegate both responsibility and authority. This means that the final decisions must be made at that lower level. You just can’t beat a decentralized system. It gets decisions closest to the level where the action really is. And it really does something for people. The executives are now essentially running business of their own. The companyhas…...

Fast-Moving Consumer Goods (FMCG)

FMCG are items that have a fast shelf turnover, at fairly low-cost and do not need a lot of idea, time and financial investment to purchase. The margin of revenue on every private FMCG product is less. Nevertheless the big variety of products sold is what makes the distinction. For this reason earnings in FMCG items always equates to variety of items sold. Quick Moving Consumer Item is a classification that describes a broad variety of often acquired consumer items…...

Assignment Verbal and Non Verbal Communication

Answer 1.1. A primary industry is one that cultivates and exploits natural resources, such as agriculture or mining. A secondary industry takes the outputs of primary industries and converts them to consumer and capital goods. Examples of secondary industries are textiles and electronics. A tertiary industry is in the service sector of the economy. Examples of tertiary industries are banking and education. Answer 1.2. A capital good is a durable good that is used in production of goods or services…...

Just in Time Inventory Management

Simply In Time Stock Management Meaning: Just-in-Time (JIT) stock management is the process of purchasing and receiving stock for production and customer sales just as it is required and not previously. This indicates that the company does not hold security stock and operates with low stock levels. This strategy assists companies lower their stock bring costs. Just-in-time inventory management is a cost-cutting stock management strategy though it can cause stock-outs. The goal of JIT is to improve return on financial…...

Industries in India

Today India is one among the top ten industrial nations of the world. Industrial development has changed India’s economy from under-developed status to developing status. Industries can be classified into various types on the basis of their structure. The two main types are: 1) Manufacturing industries including heavy and light industries. 2) Small-scale and cottage industries . Manufacturing industries: Industries which are concerned with the processing or conversion of raw materials into finished products are called manufacturing industries. IMPORTANCE OF…...

“The Boeing Company: Moonshine Shop”

In this report, I reflect upon the challenges that an established firm such as Boeing faces in doing innovative activities, and how it tackles them. As the world’s leading aerospace company, Boeing was one of the largest US exporters in terms of sales, with revenues in excess of $50billion. The rising success of competitor Airbus meant that Boeing was fighting to stay on top. It wasn't enough for the company to merely cut costs. Bringing innovation to its business processes…...

American Connector Company

American Connector Corporation makes electrical connectors at a plant in Sunnyvale, California. With applications from military, aerospace to consumer electronics and appliances, there is great difference in terms of specifications also. Standard designs were established by International Institute of Connectors and Interconnect Technology, the National Electronics Distributors Association or by the end user. There is rumor of entry of DJC Corporation of Japan which was a dominant supplier of electrical connectors in Japan. DJC had not established itself in the…...

Foxy Shirts: Quantitative Analysis Assignment

Gina Fox has started her own company, Foxy Shirts, which manufactures imprinted shirts for special occasions. Since she has just begun this operation, she rents the equipment from a local printing shop when necessary. The cost of using the equipment is $350. The materials used in one shirt cost $8, and Gina can sell these for $15 each. (a) If Gina sells 20 shirts, what will her total revenue be? What will her total variable cost be? (F) Fixed Cost=…...

Managerial Accounting Quiz 1

Chapters 1 and 2 10 Points 1. Complete the answer sheet below by placing an "X" under each heading that identifies the cost involved. The "Xs" can be placed under more than one heading for a single cost. (5 Points) Variable Cost Fixed Cost Direct Materials Direct Labor Manufactu ring Overhead Period Cost Materials costs X X Production line workers wages X X Production Equipment rental X X Factory Building depreciation X X Advertising costs X X 2. A partial…...

Designing a Manufacturing Process Toshiba´s Notebook Computer Assembly Line

Whenever a brand-new model is introduced at Toshiba, management efforts to improve the putting together process in terms of increasing efficiency and reducing costs. Listening is directed towards minimizing the amount of parts and streamlining production and assembly. Production engineering supervisor Toshihiro Nakamura introduced a prototype assembly sheet worrying the brand-new note pad model. The following precedence graph examines the process sheet. Task numbers: 1-17; job time in seconds (in brackets). The assembly line consists out of 6 workstations. Labour…...

Process Design Matrix

Process Management is a group of activities that involves planning, monitoring and, results of the process. It is a skill that includes techniques, knowledge, and report and improves processes in order to meet customer service goals and requirements, in turn for a profit. Table 1A describes the product flow matrix. ”There are three main approaches to delivering services; they include the production-line approach, the self-service approach, and the personal-attention approach” (Jacobs & Chase, 2011). The purpose of this assignment is…...

Case Study: Elio Engineering, Inc.

Summary: This article starts with Paul Elio had been working on a revolutionary bike design for two years, in 1996 and failed in venture. Then he met Hari, founded Elio Engineering INC and they worked with JCI in order to improve their financial quickly. Elio designed NC seat and met Bostrom seating which supply the seat to heavy truck and bus industry. In early 1999, Bob joined them as the third member of team. In Feb 1999,Bostrom made a licensing…...

Introduction to Quality Systems

Question 1: Texas Nameplate Comapny, highlighted in the Performance Excellence Profile, is a small company with fewer than 50 employees and a high level of ethnic diversity. What challenges would such a firm face in implementing process design and control tools? A challenge that a smaller business might face in implementing process desing and control tools would be if managers devoted too much attention to control and too little to planning and imporving which may be the most imortant activity…...

Tuscan lifestyles: assesing customer lifetime value

Tuscan Lifestyles catalogs markets a number of products such as cookware, tableware, linens and decorative home accessories. Due to the nature of the products and the business, it is difficult for the company to know whether or when the customer makes additional purchases. The company is looking to see whether a customer’s initial purchase amount is predictive of the overall lifetime value of the customer and base their future marketing plans on the outcome. For this study, the customers were…...

Product costing and cost accumulation in a batch production environment

As production takes place, manufacturing costs are tracked in the Work-in-Process Inventory account. Every product is made up of three cost components: direct materials, direct labor, and manufacturing overhead. After products are completed, the corresponding cost leaves the Work-in-Process account and is debited to the Finished-Goods account. (A merchandising firm buys its goods already completed and directly debits the items' cost to Merchandise Inventory.) When units are sold, the Finished-Goods Inventory account is credited and Cost of Goods Sold is…...

Shelby Shelving Company

The function of this analysis is to maximize revenue of Shelby Shelving Business, manufacturing 2 kinds of shelves for supermarket; Model S (basic model) and Design LX (heavy duty model). The plant's engineer suggested that Model S manufacturing need to be cut off as they are sold less than their production cost. On contrary the controller argued that Design S items take in a big manufacturing overhead burden so even though they are sold at loss, their production needs to…...

Case Preview and Questions for Anagene, Inc.

A start-up company struggles to understand its operating margins. How much of the large monthly fluctuations in margins is real and how much is caused by its costing system? Skim the section on The Genomics Analysis Market on pages 1-3 of the case but pay attention to the information on competitive position. Case Questions: Work the Youngstown Products numerical example on the following page. (This should take only a few minutes and is basically a short refresher on a phenomenon…...

Nucor Company Business

Nucor is a steel manufacturing company that makes steel by recycling used metals and reforming them into new beams and sheets. Nucor has long had a reputation as a good place to work, although its human resource management policies have generated some controversy. Employees are paid by how much they produce, the more they produce the more they make. Yearly bonuses are based on overall company performance. Employees can choose how hard they work and have a good deal of…...

The nine competitive priorities

What is the relationship between inventory and the 9 competitive concerns talked about in Chapter 1, "Using Operations to Compete"? Suppose that two completing manufacturers, Business H and Business L, are comparable other than that Business H has much higher investments in basic materials, work-in-process, and finished items stock than Business L. In which of the nine competitive concerns will Company H have an advantage? The relationships in between inventory and the 9 competitive priorities is the correct amount of…...

SYM Company Profile

MITSUKOSHI MOTORS PHILS., INC. (MMPI) was established in 1998. Prior to the entry of MMPI in the motorcycle industry, the market was dominated by Japanese brands. It was Mitsukoshi MMPI who pioneered the introduction of Chinese Taiwanese motorcycles in the Philippine market. In November of 1999, Mitsukoshi began its business ties with Sanyang Industry Co. Ltd. of Taiwan (SYM). SYM isa household motorcycle brand in Taiwan where it grewits popularity through its Jet model. In November 1999, MMPI began its…...

Emerging Markets: Brazil Case Study

I. Summary Brazil’s agricultural advantage stems from its extensive natural resources. The country’s competitors either utilize more supplies or more time in order to yield an amount that can rival Brazil’s production. Although every other country desires the agricultural production capable of Brazil, Brazil‘s government is determined to invest in industrialization in order to modernize its economy. While Brazil has a large amount of natural resources available for use, its government must provide the funding of the growing industrialization, to…...

Nike Sweatshop Manufacturing

Should Nike be held responsible for working condition in factories that it does not own, but where sub-contractors make products for Nike? Nike doesn’t own any manufacturing facilities and outsource its production. Therefore, it can’t be directly blamed for terrible working conditions. Nike can influence indirectly on working conditions at contracting factories thorough refusing to work with sweatshop factories. However, Nike, like any other capitalistic enterprise, is looking for economy of scales and making more money for its shareholders, so…...

Relationship Between Quality of Product and Uncertainty

In this article, the author examines the relationship between quality and uncertainty and their implication on the theory of markets. Akerlof uses the example of the automobile market in order to illustrate the effects of uncertainty and quality on consumer behavior. In his example, Akerlof begins with the assumption that consumers have the option of either buying a new or used car. However, the consumer cannot predict whether the car that they buy is a good car or a “lemon”.…...

Analysis of Boeing Manufacturing Case

Boeing adopted the radical change approach for designing and developing the 787 Dreamliner because they were in competition with Airbus and needed a new approach in which they could use innovation to stand out upon their competitiors. Boeing was looking to reduce manufacturing costs and development times. Boeing took an aggressive approach to apply their techniques. There was not enough time to fully establish the project or to even communicate with vendors. The project was delayed mainly because of their…...

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