What strategy would you use to reduce invoice errors

Assignment Help Business Management
Reference no: EM131285926

Assignment

The experiment data in below table was to evaluate the effects of three variables on invoice errors for a company. Invoice errors had been a major contributor to lengthening the time that customers took to pay their invoices and increasing the accounts receivables for a major chemical company. It was conjectured that the errors might be due to the size of the customer (larger customers have more complex orders), the customer location (foreign orders are more complicated), and the type of product. A subset of the data is summarized in the following Table.

Reference: Moen, Nolan, and Provost (R. D. Moen, T. W. Nolan and L. P. Provost. Improving Quality through Planned Experimentation. New York: McGraw-Hill, 1991)

Use the date in table above and answer the following questions in the space provided below:

1. What is the nature of the effects of the factors studied in this experiment?
2. What strategy would you use to reduce invoice errors, given the results of this experiment?

Reference no: EM131285926

Questions Cloud

Describe the principle of operation of solar ponds : Explain the concept of electric potential, chemical potential, and electrochemical potential and the differences among them.
Create original input image with quadrants of decomposition : Read the image representation information from two files: fname_tree.txt & fname_object.txt and create the original input image with the quadrants of decomposition delineated. Here is an example of one of a sample real-life example.
Define district energy systems and explain their benefit : List some technical characteristics of district energy systems.
Determine the efficiency of the overall system : Consider the general system from Fig. 10.3. Make reasonable assumptions regarding the efficiency of each unit and then determine the efficiency of the overall system.
What strategy would you use to reduce invoice errors : What is the nature of the effects of the factors studied in this experiment? What strategy would you use to reduce invoice errors, given the results of this experiment?
Describe a stressful period in your life : Describe a stressful period in your life. What factors contributed to the stress? Regarding the strategies for managing stress that you have studied in this module, which strategies would be most effective for you?
Define depreciation and explain its calculation : Using the cost analysis presented in the text, perform a parametric study to determine the optimum diameter of a pipe if the flow rate and the length are imposed.
Apply the formula for the area of a triangle : Apply the formula for the area of a triangle (Area = ½ × Base × Height) to answer the following questions.
Recommend the main actions that the company could take : Recommend the main actions that the company could take in order to increase the response rate of its e-mail advertising. Provide a rationale for your response.

Reviews

Write a Review

Business Management Questions & Answers

  How does us model of corporate governance reflect us culture

All of the models covered to a large degree reflect the culture and institutions of their countries. Bearing this in mind, how does the US model or system of corporate governance reflect US culture and institutions?

  Correct revenue recognition policy

In the book of "Financial Intelligence" Part II, what should be the correct Revenue Recognition Policy?

  The corportation of stakeholders concerns

"Which of the following is not one of the questions that managment should raise in their attempt to assess the importance to the corportation of stakeholders concerns?".

  Readability sounds like a fairly subjective term

Readability sounds like a fairly subjective term. What are some of the guidelines offered in the text to help readability? Now think about things that you read at work, or in your academic life. List some things that help keep you focused as a rea..

  An organization to initiate and influence

Does the development of a vision and mission allow an organization to initiate and influence, rather than just respond and react to its environment?

  Explain overhaul of the bank''s organizational structure

Can the difficulties be addressed with minor adjustments or would you need to consider a dras¬tic overhaul of the bank's organizational structure? What environmental as well as technological factors would influence your decision?

  Congressional research service report for congress

In the Congressional Research Service Report for Congress, Federal Emergency Management Policy Changes After Hurricane Katrina: A Summary of Statutory Provisions (2006), eight areas are identified for policy changes to improve FEMA's capabilities.

  Was carly fiorina treated fairly by the board

Was Carly Fiorina treated fairly by the board? Why or why not? Were the leak investigations overseen by Patricia Dunn useful and important? Were they ethical? Should George Keyworth have been asked to resign? Why or why not?

  Illustrate what sources of power may not be available

Suggest the sources of power which would be available to a leader of a student government organization. Illustrate what sources of power may not be available? To be effective, should student leaders keep power to themselves or delegate power to ot..

  Important elements that are needed to produce an structure

Build a cost/pricing structure outline for a product of your choice. Identify the product, and then outline the important elements that are needed to produce an effective structure.

  Determine the payback period for project

Determine the payback period for this project. Using net present value recommend whether or not Vista should purchase the new machine.

  Ethics of downsizing

When shareholders increase their wealth through downsizing, does this come, to some degree, at the expense of loyal employees those who have worked diligently to serve firm in terms of accomplishing its vision and mission?

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