...Using Budgets and Pro-Forma Statements to Plan Funding: The pro forma statements and budgets were instrumental in determining what additional measures needed to be taken to ensure progress within the company. By reviewing the pro-forma statements I was able to determine that I needed to raise the price of my product due to the fact that the target markets had indicated what they would pay for such product and the cost of production was over whelming the income received from sales. After the first quarter I was able to decide that changes needed to be made to not only the price of each product but additional products needed to be added to meet the needs of specific target areas. I was also able to determine by analyzing the budget and pro forma statements that I was missing out on key sales by not producing enough units. In the beginning I was concerned with keeping production costs minimal by having little staff and low inventory. The statements were able to indicate to me that by increasing production, and spending the extra money to do so, I would better be able to meet the supply and maximize profits. The pro forma and budget statements were extremely instrumental in the success and continued growth of my company. I saw the bottom line change significantly as I changed my process based on the statements provided. Improving Operating Efficiency Using Just-in-Time and Lean Operations: Just In Time: The Just In Time approach to manufacturing emphasizes forced problem...
Words: 876 - Pages: 4
...Supply Chain – JCT2 Task 1 Roy C. Vasel Student ID 000298533 Business Simulation for OutFront Computers A. Business financial documents from simulation | | |Cumulative industry results for last four quarters ending in quarter: 4 | | |Minimum |Maximum |Average |OutFront Computers | |Financial Performance |-47.33 |171.31 |1.98 |44.29 | |Market Performance |0.00 |0.60 |0.03 |0.58 | |Marketing Effectiveness |0.00 |0.81 |0.05 |0.75 | |Investment in Future |0.00 |38.98 |0.17 |1.39 | |Wealth |-0.57 |4.26 |0.11 |1.74 | |Human Resource Management |0.00 |0.82 |0.06 |0.78 | |Asset Management |0.00 |2.10 ...
Words: 3347 - Pages: 14
...and pro-forma statements and their effectiveness in planning for the following quarter’s expenses. It will be important for any company to analyze the information provided from these forms in order to run a successful business. 1. Budget Evaluation It was extremely important to use budget and pro-forma statements in planning and funding the projected capacity to achieve my business goals. After the reviewing the pro-forma statements I was able to evaluate and decide that I needed to increase plant capacity in order to increase my inventory. I did not have enough supply to meet my demand. I was concerned about keeping production costs to a minimum but in doing so I was not able to produce enough units. After the first quarter I realized my target market wanted a good product for a great price so my strategy was to be the low cost leader. By reviewing the pro-forma statements, I made the decision to lower prices, increase capacity, and increase staffing. By making those changes I was able to increase my production and maximize my profits. Reviewing these statements were very influential in the success and growth of the business. Below are the statements I used to calculate my decisions and grow a successful business. B2 Manufacturing Efficiency 1. Just-in-time (JIT) The just-in-time (JIT) approach focuses on manufacturing efficiency for problem solving. This a great strategy for improving operations. The just-in-time approach as it implies is the process in which the product...
Words: 925 - Pages: 4
...JCT 2 Supply Chain Task 1 During the course of this simulation, I tried to make conservative decisions that would be the most profitable for me and for my shareholders. I started by selecting a simple name for the company that could be easily promoted and would be become dated. As stated in the mission statement, my company’s goal was always to deliver the latest in computer technology to my customers. One of the ways that I was able to do this was research. I paid close attention to the research into what the market wanted in their computers. Not only did I pay close attention to the needs of the customers, but I was also receptive to the prices they were willing to pay. Since manufacturing and office based companies were willing to pay more, I selected those two market targets, Workhorse and Mercedes, and choose to ignore the Traveler. In the first quarter, money was not abundant, so I made the choice to offer a small compensation package for my employees. During the first quarter, my employees received only one week of vacation. They were given expanded coverage insurance and I contributed a small 5% to their pension. I realize that my compensation was not as good as my competitors. This is one of many problems that I corrected in later quarters. I had the opportunity to open two sales offices. I decided that I needed to have one sales office in the United States, so opening the office in New York was an easy decision. The other location for my sales office...
Words: 2074 - Pages: 9
...JCT 2 Task 1 Heidi Dyer A. The following files have been submitted as attachments: · Fourth Quarter Cumulative Balanced Scorecard · Income Statements for the 4 quarters · Balance Sheets for the 4 quarters B. 1. A budget is an itemization of estimated or known expenses for a given time period. Pro-forma Statements are forecasted income statements, statements of cash flow, and balance sheets for the following term. They are based on expected revenues and costs. It is a good idea to pay close attention to the figures in these statements, although they are not based on fact, they do provide helpful advice if used in conjunction with previous quarter financials and the allocated budget. The budget and pro-forma statements are used to plan production costs. I tried to keep costs at a minimum for the first and second quarter planning. I opened only 2 offices, advertised sparsely, and hired a minimum of sales people. However I underestimated sales and though I had cash left for the next terms, I did not have enough inventories to cover the demand. For the third quarter I spent more than I had previously and squandered a great deal of the capital I had built up from the second quarter, suffering a significant financial loss. I did not pay attention to the pro-forma statements and did not think about the budget. My lack of planning showed at the end of that quarter and I learned a valuable lesson. If this had been a real company and not just a simulation, I would...
Words: 1310 - Pages: 6
...November 10, 2013 JCT Task 1 B1 Pro-forma statements is a financial statement showing the forecast or projected operating results and balance sheet, as in pro forma income statements, balance sheets, and statements of cash flows. I did not use pro-forma statements in the beginning and it became nearly impossible to calculate my future expenses. If I had used the pro-forma statement, I would have been much more successful with the latter outcome by having funds available and less overhead. A budget statement consists of an operating statement, including other economic flows, a balance sheet, and a cash flow statement, which I did not use until I realized that my company was in trouble after the third quarter. If I would have used my budget statement appropriately in the beginning, the company would have seen proper growth and capital gains. The negative outcome of not using budget statements was clear throughout the last three quarters. My negative cash flow became excessive in quarter two due to over production of my products. Therefore in quarter three I had extremely high inventory holding cost and excess capacity costs. I tried to adjust in quarter four for the price per unit to compensate for my negative cash flow but I was already too far in the negative. Now that I have learned how the pro-forma statement works, I would have been able to...
Words: 1229 - Pages: 5
...JCT 2 Task 3 Having been retained by a group of investors who plan to manufacture and market a line of power hand tools to guide their decisions around the supply-chain, the first order of business would be to recommend adoption of an overall supply-chain strategy. There are many different strategies to choose from. One such strategy would be to use the Many Suppliers strategy where “a supplier responds to the demands and specifications of a ‘request for quotation’, with the order usually going to the low bidder” (Heizer, J. & Render, B. 2010, p. 425). This strategy forces the suppliers into competition with one another and is not very conducive to forming long-term partnerships. Another is the Few Suppliers strategy where the goal is to form long-term relationships with suppliers. “Long-term suppliers are more likely to understand the broad objectives of the procuring firm and the end customer” (Heizer, J. & Render, B. 2010, p. 425). The potential downside for this strategy is huge cost for changing suppliers if necessary and the purchaser also has to worry about supplier performance. The strategy I would recommend for the power tool company would be the Vertical Integration strategy. The goal in using this strategy would be to ‘develop the ability to produce goods or services previously purchased or to actually buy a supplier or a distributor’ (Heizer, J. & Render, B. 2010, p. 426). Vertical Integration can also offer different strategic opportunities...
Words: 3296 - Pages: 14
...1. Introduction 1.1 Indian Textile Industry India is a traditional textile-producing country with textiles in general, and cotton in particular, being major industries for the country. India is among the world’s top producers of yarns and fabrics, and the export quality of its products is ever increasing. Textile Industry is one of the largest and oldest industries in India. Textile Industry in India is a self-reliant and independent industry and has great diversification and versatility. The textile industry can be broadly classified into two categories, the organized mill sector and the unorganized decentralized sector. The organized sector of the textile industry represents the mills. It could be a spinning mill or a composite mill. Composite mill is one where the spinning, weaving and processing facilities are carried out under one roof. The decentralized sector is engaged mainly in the weaving activity, which makes it heavily dependent on the organized sector for their yarn requirements. This decentralized sector is comprised of the three major segments viz., powerloom, handloom and hosiery. In addition to the above, there are readymade garments, khadi as well as carpet manufacturing units in the decentralized sector. The Indian Textile Industry has an overwhelming presence in the economic life of the country. It is the second largest textile industry in the world after China. Apart from providing one of the basic necessities of life i.e. cloth, the textile industry...
Words: 9221 - Pages: 37
...Oracle® Trading Community Architecture Reference Guide Release 12.1 Part No. E13569-04 August 2010 Oracle Trading Community Architecture Reference Guide, Release 12.1 Part No. E13569-04 Copyright © 2003, 2010, Oracle and/or its affiliates. All rights reserved. Primary Author: Ashita Mathur Contributor: Ajai Singh, Amy Wu, Anish Stephen Avinash Jha, Harikrishnan Radhakrishnan, Leela Krishna, Nishant Singhai, Ramanasudhir Gokavarapu, Shankar Bharadwaj Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners. This software and related documentation are provided under a license agreement containing restrictions on use and disclosure and are protected by intellectual property laws. Except as expressly permitted in your license agreement or allowed by law, you may not use, copy, reproduce, translate, broadcast, modify, license, transmit, distribute, exhibit, perform, publish or display any part, in any form, or by any means. Reverse engineering, disassembly, or decompilation of this software, unless required by law for interoperability, is prohibited. The information contained herein is subject to change without notice and is not warranted to be error-free. If you find any errors, please report them to us in writing. If this software or related documentation is delivered to the U.S. Government or anyone licensing it on behalf of the U.S. Government, the following notice is applicable: U.S...
Words: 64557 - Pages: 259
...Tutorial - FunctionX - Introduction - Creating A Database - Tables Design - Introduction To Microsoft Access Objects - Controlling The User's Input - Relationships - Subdatasheets - Forms Design Overview - Exploring And Analyzing Data - Query Design And Exploration - Forms Properties - Calculated Fields - Advanced Queries - Exploring Forms Controls - Designing And Improving A Report - Importing From And Exporting Data To Other Applications - Macros - Switchboard - Introduction to VBA - Shortcuts - A Complete Database Created With The Keyboard - Introduction To A Microsoft Access Database 1 - Introduction: A database is a collection of information organized as to make it easy to view it, search it, retrieve the right detail, and collect the necessary facts in an easier, timely, and effortless manner as possible. 2 - Relational Database: http://www.functionx.com/access/print.htm (1 of 95) [2000/11/04 09:42:31 AM] Microsoft Access Tutorial - FunctionX An organized database is composed of inter-related parts. Since you define these parts, you also organize them in a manner that helps some parts of your database to supply specific information to others. In one part, you would cover one category of data, such as people's personal information (name, date of birth, salary, hobbies, etc), in another you would cover what they buy in a store. 3 - Microsoft Access: Microsoft Access is a relational database used on desktop computers to manage information on different...
Words: 34096 - Pages: 137
...Statutory Interpretation (not examinable) • Literal Rule There are three (3) principles of law that can be applied to interpret the law, where the Literal rule can be applied and if absurdity exist either the Golden or the Mischief rule can be used. The Literal rule considers the law as what it says where the natural meaning of the words are used for interpretation; this can be depicted in the case Regina v Barrymore where the defendant was charged with the offence of wounding with the intent to murder, however the learned magistrate of St John’s Magistrate’s court committed the defendant to stand trial on a charge of wounding with intent to do grievous bodily harm. The court however had no power to commit the defendant for any offence other than the offence with which he had been charged. • Golden Rule The Golden rule is an extension of the literal rule, giving either narrow or wide meaning to the law; the Narrow meaning can be exemplified in the case of Marilyn Spenser v the Attorney General (AG), where the appellants, members of the Executive of the Committee of the Hallelujah Square Tabernacle church submitted to the Attorney General (AG) articles of incorporation of the church as a religious non- profit organization. However, the AG rejected the request stating that a nonprofit company must be a commercial enterprise which is to be carried out without financial gain to its members. Wide Meaning on the other hand is used to give law a wider meaning...
Words: 21185 - Pages: 85
...Cataloging-in-Publication Data: Junior skill builders : grammar in 15 minutes a day.—1st ed. p. cm. ISBN: 978-1-57685-662-8 1. English language—Grammar—Problems, exercises, etc. 2. English language—Grammar—Examinations—Study guides. I. LearningExpress (Organization) PE1112.J86 2008 425—dc22 2008020779 Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 First Edition For more information or to place an order, contact LearningExpress at: 2 Rector Street 26th Floor New York, NY 10006 Or visit us at: www.learnatest.com C O N T E N T S Introduction Pretest S E C T I O N 1 : PA R T S O F S P E E C H Lesson 1: Nouns • Understanding common, proper, concrete, abstract, collective, and compound • Review exercises of all nouns Lesson 2: Pronouns • Understanding personal, demonstrative, reflexive, intensive, indefinite pronouns • Charts of subject, object, possessive, and indefinite pronouns • Review exercises of all pronouns Lesson 3: Verbs • Understanding action, linking, and helping verbs • Chart of common helping verbs • Review exercises of all verbs Lesson 4: Verb Tenses • Understanding regular and irregular verbs • Understanding present, past, future, present perfect, past perfect, future perfect, present progressive, past progressive, and future progressive tenses • Chart of common irregular verbs • Review exercises of regular and irregular verb forms in tenses 1 3 13 15 23 29 35 vi contents Lesson 5: Adjectives • Understanding common, proper...
Words: 42420 - Pages: 170
...Researched, compiled and published by Woods & Seaton International Automotive Systems Customer Relationships Management - “CRM” May 2009 ★ ★ ★ ★ ★ ESTABLISHED ★ 1973 ★ ★ ★ ★★★ International Automotive Systems - “CRM” - 2009 For the sole, internal use of Aspen Marketing Services, Inc. - Contact: Bill Ewing. Researched, compiled and published by Woods & Seaton page 123 International Automotive Systems Customer Relationships Management - “CRM” May 2009 Copyright Notice All rights reserved. This document is supplied for the sole, internal use of... Aspen Marketing Services, Inc. - Contact: Bill Ewing. No part may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the copyright holder. Any questions from Subscribers to Woods & Seaton Automotive Systems Information about this study should be addressed to Mike Seaton, Automotive Systems & Communications, Wash Hill House, ★ ★ ★ ★ ★ Wooburn Green, ESTABLISHED ★ 1973 ★ Buckinghamshire ★ ★ England, HP10 0JA. ★ ★ ★ Telephone: 44 (0) 1628 525 960 E-Mail address . . . mikeseaton@woods-seaton.com Web Site . . . http://www.woods-seaton.com © Woods & Seaton 2009 Tel. 44 (0)1628 525 960 E-mail: mikeseaton@woods-seaton.com www.woods-seaton.com Subscribers to Woods & Seaton Automotive Systems Information are automatically included on our e-mail Briefings list ...
Words: 65405 - Pages: 262
...against drunk and distracted drivers. Illinois also has adopted some of the toughest driver’s license standards for teen drivers. My office has also adopted policies that have allowed the driving public to more easily access Secretary of State services. Hundreds of thousands of drivers and registered vehicle owners have utilized services on my office’s website at www.cyberdriveillinois.com to renew their driver’s license and license plates, register their information in the Emergency Contact Database or to join the Organ/ Tissue Donor Registry. As Secretary of State, I continue to maintain the highest standards when it comes to traffic safety and public service in Illinois. Jesse White Secretary of State Table of Contents Chapter 1: Illinois Driver’s License ................................................................................2 Chapter 2: Driver’s License Exams ..............................................................................11 Chapter 3: Drivers Under Age 21 (GDL) ......................................................................14 Chapter 4: Traffic Laws................................................................................................19 Chapter 5: Sharing the Road ......................................................................................35 Chapter 6: Driving Under the Influence (DUI) ............................................................42 Chapter 7: Traffic Violations/Crashes ................................
Words: 33267 - Pages: 134
...Invest. Innovate. Inspire. For a new India. ANNUAL REPORT 2014-15 India is at the threshold of a new era of growth and opportunity. This is driven by increasing economic activity, ongoing ‘Make in India’ initiatives and a demographically well-placed, aspirational society. Reliance Industries Limited (RIL) continues to be a partner in India’s ongoing journey towards economic and social well-being, and remains committed to investing in and innovating for India. RIL is striving to meet and exceed global benchmarks in product quality and customer service with inspiring ideas and strategic investments. From the manufacturing landscape to high-growth consumer service sectors, RIL is achieving superior outcomes that facilitate India’s drive for global leadership. RIL is delivering industry-leading performance through consistent efficiency in operations and prudent configuration of assets. RIL is making sizable capital investments, focusing on technology and expanding its level of services from the hydrocarbons sector to consumer businesses. RIL innovates for existing businesses and also focuses on developing new business models to deliver g g g y significant value for its growing stakeholder fraternity. In this effort, it collaborates with o s with leading global institutions to help usher in a n era of possibilities. global new is growing o RIL’s focus is to continue growing as a respons responsible organisation, thereby e inspiring progress in...
Words: 182744 - Pages: 731
