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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.
Competition oriented pricing policy Most companies fix the price of their products after a careful consideration of the competitor's price structure. Deliberate policy may be f
Ask question #MinimumYears Purchase Costs Running cost discount factor 8% Running cost Savings PVS 0 -7000 -7000 1 2000 0.926 1852 5556 3704 2 2500 0.857 2142.5 5999 3856.5
Selective Inventory Management The inventory of an industrial firm generally comprises thousands of items with diverse prices, usage and lead time, as well as procurement and/o
WHY VARIANCES IS INVESTIGATED UNDER STANDARD COSTING
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ADVANTAGES OF "ABC ANALYSIS" The advantages derived from this analysis and its consequent follow up are summarized below: 1) Facilities selective control and thereby save va
Shoe Shine is a local retail shoe shop located on the north side of Centerville. Yearly demand for a popular sandal is 500 pairs, and John Dirk, the manager of Shoe Shine, has been
Steady state condition In many cases, the Markov process will converge to a steady state or equilibrium. In general, as number of transitions `n' increase, the state values
based on your assumptions, calculate the cost per unit (total product cost on a per unit basis) under a traditional accounting system based on direct labor hours (table 1 prepared
Q. Evaluate a proposed investment? BMP Consulting (BMPC) conducted an analysis of Delta Corp. and found that the firm consists of two different divisions: Pet Lovers, a pet sup
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