Preview

CMO1 Wgu

Good Essays
Open Document
Open Document
694 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
CMO1 Wgu
In an organizational chart, the boxes represent areas of management responsibility.

The manager of the accounting department is known as the controller.

Since the early 1980's, companies have gone through several waves of improvement programs, including Just-in-time (JIT), Total Quality Management (TQM), and Process Reengineering. Control Theory (TC) does not represent an improvement program.

The JIT approach has the most profound effects on the operations of manufacturing companies that maintain all three classes of inventories: raw materials, work in process, and finished goods.

Ideally, raw materials are received just in time to go into production when a JIT system is in place.

Procedures inherent in the Theory of Constraints include, but are not limited to the following: identify the weakest (rather than the strongest) link, do not place a greater strain on the system that the weakest link (rather than the strongest link) can handle, and concentrate improvement efforts on Strengthening the weakest (rather than the strongest) link. To be effective, improvement efforts must be focused on the constraint.

Six Sigma is a process improvement method that relies on customer feedback and fact-based data gathering and analysis techniques to drive process improvement.

The IMA's Statement of Ethical Professional Practice includes all of the following broad categories: competence, confidentiality, and integrity.

The Sarbanes-Oxley Act of 2002 requires that the CEO and CFO (rather than the CFO and the Controller) certify in writing that their company's financial statements and accompanying disclosures fairly represent the results of operations.

Which of the following statements about corporate social responsibility (CSR) is correct? CSR is a concept whereby organizations consider the needs of all stakeholders when making decisions. CSR extends beyond legal compliance. CSR includes voluntary actions that satisfy the expectations of customers, employees, suppliers,

You May Also Find These Documents Helpful

  • Powerful Essays

    With the new process transitioning to the just-in-time (JIT) method, the technology portion of the organization will need to be upgraded to a system that monitors from the point of order to the point of delivery.…

    • 3640 Words
    • 15 Pages
    Powerful Essays
  • Good Essays

    Six Sigma is a set of techniques and tools for process improvement. It was developed by Motorola in 1986, coinciding with the Japanese asset price bubble which is reflected in its terminology. Six Sigma became famous when Jack Welch made it central to his successful business strategy at General Electric in 1995. Today, it is used in many industrial sectors.…

    • 1421 Words
    • 6 Pages
    Good Essays
  • Satisfactory Essays

    Wk 3 Self Assessment

    • 381 Words
    • 2 Pages

    The goal of JIT is to drive all inventory queues to a moderate level thus…

    • 381 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Jit Management

    • 2938 Words
    • 12 Pages

    As mentioned above JIT main purpose is to eliminate waste and to effectively increase their profit levels. The table below shows the types of waste which Just in Time Production aims to solve and thus make the company more efficient in reducing waste and eliminate unnecessary capacity.…

    • 2938 Words
    • 12 Pages
    Powerful Essays
  • Best Essays

    Using the Six Sigma process improvement method, several steps will identify the bottleneck to improve one aspect of the current process performance. The Six Sigma process is a system of defining, measuring, analyzing, improving, and controlling (DMAIC) a process for an existing process that fall below specifications and looking for incremental improvements (Swinton, 2006). The process will clearly define the problem in the following manner:…

    • 1316 Words
    • 6 Pages
    Best Essays
  • Powerful Essays

    Six Sigma Study Guide

    • 3232 Words
    • 13 Pages

    Six Sigma is a process based methodology for pursuing continuous improvement. Companies use this methodology to reduce defects in their processes.…

    • 3232 Words
    • 13 Pages
    Powerful Essays
  • Powerful Essays

    Six Sigma is a business management strategy designed to meet customer needs and process capability.…

    • 1789 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    JIT (also known as lean production or stockless production) should improve profits and return on investment by reducing inventory levels (increasing the inventory turnover rate), reducing variability, improving product quality, reducing production and delivery lead times, and reducing other costs (such as those associated with machine setup and equipment breakdown).…

    • 4164 Words
    • 17 Pages
    Powerful Essays
  • Powerful Essays

    Jit Research Paper

    • 11925 Words
    • 48 Pages

    Purpose – The purpose of this paper is to investigate the perceived impact of just-in-time ( JIT) implementation on operations performance, identify the relationship between elements of JIT (integrated and individual) and performance metrics, and based on the results, present some helpful suggests for improving JIT implementation in manufacturing industry. Design/methodology/approach – Framework and hypotheses based on literature review were first constructed, then a questionnaire was developed to collect data from mainland China; in total, 224 information responses were obtained, then statistical analysis was carried out to test the hypotheses. Based on the data analysis results, conclusion and managerial insight were summarized. Findings – Results show that, no matter what kind of industry or scale of sale of the firm, implementation of an aggregate bundle of JIT elements can improve production operations performance. However, for individual elements of JIT, their impacts are different; some basic elements of JIT like 5S, multiple-skill employee and JIT purchasing can play a more remarkable role than other elements. Practical implications – The conclusions of this paper can benefit firms in improving implementation of JIT in practice, especially for those firms in developing countries. Originality/value – Although a number of studies on JIT implementation have been reported in developed countries, little attention has been paid to the status of Chinese firms; this paper has value for examining the practice of JIT in China and reference value for other developing…

    • 11925 Words
    • 48 Pages
    Powerful Essays
  • Satisfactory Essays

    One of characteristic in JIT approach is the flow of work. Parts or component of material will flow from one work center to many others with intermediate storage, and flow into work centers will also come from many work centers with intermediate storage. In the large company like Toyota, this approach is the most suitable to be applied.…

    • 293 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Value Analysis

    • 778 Words
    • 4 Pages

    * Just-in-time (JIT) is an integrated set of activities designed to achieve high-volume production using minimal inventories of raw materials, work in progress, and finished goods.…

    • 778 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Miss

    • 1049 Words
    • 5 Pages

    Operations Management, Eighth Edition, by William J. Stevenson Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved.…

    • 1049 Words
    • 5 Pages
    Satisfactory Essays
  • Powerful Essays

    JIT manufacturing has the capacity, when properly adapted to the organisation, to strengthen the organisation's competitiveness in the marketplace substantially by reducing wastes and improving product quality and efficiency of production.…

    • 2951 Words
    • 11 Pages
    Powerful Essays
  • Powerful Essays

    49. Kros, J. F., Falasca, M., & Nadler, S. S. (2006). Impact of JIT inventory systems on OEM suppliers. industrial…

    • 10641 Words
    • 51 Pages
    Powerful Essays
  • Good Essays

    Fullerton, R. R., McWatters, C. S., & Fawson, C. (2003). An examination of the relationships between JIT and financial performance. Journal of Operations Management, 21, 383–404.…

    • 9163 Words
    • 37 Pages
    Good Essays