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Feedback Control System
Feedback is information about actual achievements or actual results produced within the organization (e.g. management control reports) with the purpose of helping with the control decisions. Feedback is internal in that, it is concerned with measuring the output of the system itself. Most common types of control systems in a business such as budgetary control, stock control and the production control system are based on feedback control cycles. Feedback can be positive or negative.(a) Negative feedback:
This is information which indicates that the system is deviating from its planned or prescribed course and that some re-adjustment is necessary to bring it back on course. It is referred to as negative since the control action would need to reverse the direction or movement of the system towards its planned course.(b) Positive feedback:
Positive feedback results in control action that causes actual results to maintain or increase their path of deviation fromplanned results.
Carrying costs of inventory These are costs incurred because the firm has decided to maintain inventories. They generally consist of: • Stock-out costs • Insurance co
INVENTORY CONTROL DECISIONS Factories, workshops, engineering departments handle raw materials used in the manufacture of products. The main objectives in handling these materi
Feedback Control System Feedback is information about actual achievements or actual results produced within the organization (e.g. management control reports) with the purpose
hi how do we find a schedule of expected cash collections
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