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MANUAL SOLUTIONS WITH TEST
BANK FOR MATCHING SUPPLY WITH
DEMAND, AN INTRODUCTION TO
OPERATIONS MANAGEMENT 5 TH
EDITION; ALL CHAPTERS (100%)
ACTUAL VERIFIED QUESTIONS AND
ANSWES: GRADED A+
Non-Current Assets - -- <> ---Items owned for a period of more than one year Current Assets - -- <> ---Items owned for a period of less than one year Current Liabilities - -- <> ---Items owed for a period of less than one year Working Equity - -- <> ---The ability to pay short-term debts. Calculated by: current assets - current liabilities
Net Assets Employed - -- <> ---This is the value of non- current assets added to the working equity figure (if working equity is negative it will be subtracted from non-current assets). Calculated by: non current assets +/- working equity Non-Current Liabilities - -- <> ---Long-term debts of the business eg bank loan, debentures. Net Assets - -- <> ---The overall value or worth of the business. Calculate by: net assets employed - non current liabilities Equity and Reserves - -- <> ---This shows how the business has been financed, eg the initial investments in the business (equity, shares, etc), retained profits etc. It should add up to the exact value of total net assets. Trade Payables - -- <> ---Suppliers the business owes money to. Trade Receivables - -- <> ---Customers that owe money to the business. Owner's Equity - -- <> ---The owners' share of (or net worth in) the business, after liabilities are subtracted from assets.
Kaizen Costing - -- <> ---Sets cost targets for all phases of design, development, and production of a product for each accounting period. Breakeven point - -- <> ---That volume of sales where total revenue and expenses are equal, so there is neither profit nor loss. Pro forma financial statements - -- <> ---Are budgets. Activity - -- <> ---An assignable element of work within a project. Syn: task. Critical Path - -- <> ---The longest sequence of activities through a project plan. It defines the project duration. Earliest Finish Time - -- <> ---The soonest a project activity can be completed based on predecessor completion times and activity duration. Earliest Start Time - -- <> ---The soonest a project activity can begin based on predecessor completion times. Gantt Chart - -- <> ---A planning tool, composed of horizontal lines that represent activity durations, used for the management of a project.
Latest Finish Time - -- <> ---The last point at which a project activity must be completed in order to not delay the project completion. Latest Start Time - -- <> ---The last point at which a project activity must begin in order to not delay the project completion. Network Diagram - -- <> ---A graphical tool that shows activity dependencies in a project. Project - -- <> ---A (typically) one-time endeavor with a specific objective to be met within predetermined time and dollar limitations and that has been assigned for planning and execution. Project Charter - -- <> ---A statement that describes the scope and objectives as well as the key roles of the participants and involved in a project. Project Cost - -- <> ---One side or constraint in the project management triangle to go along with scope and time (duration). Profit Planning - -- <> ---A series of prescribed steps to be taken to ensure that a profit will be made.
Project Crashing - -- <> ---Adding resources to critical path or near-critical path activities in order to shorten the duration of the project, done in the most cost effective way possible. Project Duration - -- <> ---The estimated length of time for a series of activities within a network diagram or Gantt chart. It is typically depicted as one of the sides in the project management triangle. Project Management - -- <> ---The use of techniques to organize, plan, schedule, direct, control and monitor the completion of a one-time deliverable. Project Management Triangle - -- <> ---A framework that helps portray the basic tradeoffs that must be made when working on a project. Project Phases - -- <> ---(1) Initiation, (2) Planning, (3) Execution, and (4) Close Out. Project Scope - -- <> ---The work required to complete a deliverable (a product, an event, etc.) with given features and options. It is typically depicted as one of the sides of the project management triangle.
Scope Creep - -- <> ---The informal addition of unfunded features and services to a project. Slack Time - -- <> ---The amount of time a project activity can be delayed without delaying the project completion. Work Breakdown Structure - -- <> ---A project deliverable that organizes the project work into assignable activities. Associative Models - -- <> ---Forecasting methods that use one or more variables that are believed to affect demand. Coefficient of Correlation (r) - -- <> ---A value between - 1 and 1 that is used to describe the relationship between two variables. Coefficient of Determination (r squared) - -- <> ---A value between 0 and 1 that is used to express the strength of the relationship between two variables. Correlation - -- <> ---The relationship between two sets of data such that when one changes, the other is likely to make a corresponding change. Same-direction changes are said to be positive; opposite are negative.
Naive Forecast - -- <> ---A method where the forecast in the new period is equal to the actual demand in the previous period. Product Lifecycle Stages - -- <> ---The steps a new offering goes through from its introduction to its end including introduction, growth, maturity and decline. Qualitative Forecast - -- <> ---An approach for predicting demand that is based on intuition or judgmental evaluation. Quantitative Forecast - -- <> ---An approach for predicting demand that is based on historical data. Regression Analysis - -- <> ---A statistical technique that expresses the functional relationship between dependent and independent variables. Sales Force Composite - -- <> ---A method where estimates from field salespeople are "rolled up" or aggregated to produce a forecast. Time Series Models - -- <> ---A set of data that is distributed over time and exhibits one of the following patterns: seasonal, trend, cyclical, and random.
Trend Projection - -- <> ---A useful forecasting method when historical data exhibits an upward or downward pattern. Weighted Moving Average - -- <> ---An averaging method in which the data is adjusted or weighted according to its importance. Statement of Financial Position - -- <> ---Shows the items a business owns, known as assets, the items they owe, known as liabilities, and the overall business. Income Statements - -- <> ---Shows the profit made from buying and selling, known as gross profit, and the profit made after expenses are deducted from gross profit, known as profit for the year. Sales Revenue - -- <> ---The amount of money made from selling goods or services. Cost of Sales - -- <> ---The amount of money spent on selling goods. Calculated by: (Opening Inventory + Purchases) - Closing Inventory Gross Profit - -- <> ---The profit made from buying and selling. Calculated by: Sales Revenue - Cost of Sales
Why would lenders use financial statements? - -- <> ---To decide whether or not to give a loan.
