What is the effect of variances

Assignment Help Operation Management
Reference no: EM131636430

Control, or monitoring the results of each operation is critical to the operation's overall success. In order to do that, standards must be established and then actual results are compared to desired results. One way each type of operation does this is by forecasting. Explain how a business forecasts revenues and expenses giving specific examples of the data used and its point of origin. In your opinion, what categories are the most important to forecast for and what is the effect of variances?

Reference no: EM131636430

Questions Cloud

In how many different ways can people be seated in a row : In how many different ways can 11 men and 8 women be seated in a row?
Describe a problem or issue that needs a solution : Describe a problem or issue that needs a solution. Provide support that the problem or issue is an important one to solve.
Briefly introduce the organisation : Briefly introduce the organisation and Draw up a SWOT analysis, as a table, to assess what has caused the need for the organisational change
Two things about how congress works : List and explain THREE (3) ways U.S. Presidents are more AND less powerful than the British Prime Ministers?
What is the effect of variances : what categories are the most important to forecast for and what is the effect of variances?
How many different sets of processors can be used : 14 copies of a code module are to be executed in parallel on identical processors organized into two communicating clusters, A and B.
Would you consider the response to mandated ratios : Would you consider response to mandated ratios in California to be positive or are there additional issues that have arisen since the legislation was enacted?
Relationship between house prices and size and proximity : MAE256 T2 2017 - Given your scatter diagrams, what do you observe about the relationship between house prices and size and proximity?
Find a strategy pro?le that results in an outcome path : Find a strategy pro?le that results in an outcome path in which both players choose b in every period and the strategy pro?le is a SPNE.

Reviews

Write a Review

Operation Management Questions & Answers

  A literature review is critical evaluation of the themes

A literature review is a critical evaluation of the themes, issues, and arguments connected to a research topic obtained from peer reviewed literature. se the ACM Digital Library to locate three peer-reviewed articles published within the past 5 year..

  Determine value of the arithmetic gradient

You expect your starting salary of $57,000 at the end of next year as a base amount to increase uniformly to a level of $114,000 by the end of 6 years, (a) Determine the value of the arithmetic gradient, G, and (b) construct the Cash Flow Diagram (CF..

  In the emergency department of medical center

In the emergency department of a medical center, the requirement for staff MDs’ time is estimated to be 20,000 minutes per day. The utilization target for MDs is 95%. The medical center’s benefit plan for staff MDs includes 10 holidays, 10 sick days,..

  How much could the firm save annually in ordering

A fresh produce distributor uses 850 non-returnable packing crates a month, which it purchases at a cost of $6 each. The manager has assigned an annual holding cost of 28 percent of the purchase price per crate. Ordering cost is $25 per order. Cur..

  What human resource component is major element of a firm

What Human Resource component within its operating environment is a major element of a firm's ability to satisfy its personnel needs

  Long term bonds outstanding

Select a company with long term bonds outstanding. Locate and analyze a current quotation for that bond. Compare the current price with the par value. Explain at least one (1) reason for the difference.

  The university has increased the number of parking spaces

The university has increased the number of parking spaces, instiuted a shuttle system, and increased parking fees.

  More effective differentiation or low-cost strategy

What is the difference between having a best-cost strategy (a/k/a integrated low-cost and differentiation) and being stuck in the middle (achieving neither low-cost or differentiation based advantage). If you have a best-cost strategy aren't there li..

  Internal and external influences on staffing decision making

Reflect on the Renaissance and Baroque eras. How has it influenced art since? Is it still relevant today? Why, or why not? What are the four main categories of internal and external influences on staffing decision making?

  Target markets can best be associated with

Target markets can best be associated with

  True regarding experienced business writers

Which of the following statements is true regarding experienced business writers?

  Strategic management theorist or major contributor

Consider the 1960s era of strategic management, then identify and research a theorist or major contributor to strategic management or strategic planning in that ten-year period. Write the results of your research, and include the initial of the fi..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd