...appraisal, and so on are all stimulated by means of the HR forecasting process. II. Forecasting Activity Categories Forecasting activity can be subdivided into three categories: • transaction-based forecasting, • event-based forecasting, and • process-based forecasting. # Transaction-based forecasting analyses focus on tracking internal change instituted by the organization's managers. # Event-based forecasting is concerned with change in the external environment. # Process-based forecasting is not focused on a specific internal organizational event but on the flow or sequencing of several work activities (e.g., the warehousing shipping process). All three categories are important if we are to have a comprehensive method for ascertaining our HR requirements. Forecasting is only an approximation of possible future states and is an activity that strongly favours quantitative and easily codified techniques. As such, it is important that an explicit effort be made to obtain and incorporate qualitative data into our analyses....
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...………………………………………………….. 5 3. Problem Analysis………………………………………………… 13 4. Conclusion…………………………………………………………. 18 References……………………………………………………………… 18 Introduction JCR Drillsol PVT.LTD JCR is a large scale manufacturing company who’s objective is to provide unique and unprecedented solutions in every arena of the Drilling, Mining and Construction Industry. JCR’s variety of specialized RIGs finds its application in every possible arena of the drilling industry, making them one of the most competitive services in the business. JCR Drillsol, products include highly efficient and heavy-duty RIGs for a wide range of drilling applications ranging from RC, DTH, Tractor mounted and Wagon Drills, Pumping and Testing Units to Drag Bits, Mud Pumps and Mini Truck Mounted Drills. Our technology also designs other drilling solutions such as DTH Hammers, RC Hammers, RC Drill Rods, Tricone and O-Dex Bits. Problems faced in the industry Various problems faced by the industry are: * Material Wastage and Cost Factor A major problem faced by JCR Drillsol is the wastage of materials and cost factor. The Product output per unit input of raw materials became lower. It also occurred due to heavy inventory. It also occurred due to bad process design and layout. The other factor, which leads to material wastage, was bad quality from process and design. Hypothesis: Lean Manufacturing can be used to eliminate the wastage of materials that reduces the cost...
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...In my perspective, other methods might help in managing high food costs in the kitchen operations (Cousins, 2014). Firstly, Wastage has a significant effect on food costs when there is an unexpected increase in the weekly food cost. Use a waste log book to record food spills or wrong food order. Chef Grant’s team can record food waste when it happens. Another advantage of using waste log book is they might find items that customers do not like which Chef Grant and his team can remove or adjust from the menu to avoid wastage (RestaurantOwner.com, 2018). Secondly, to have an inventory report on key items is an effective way to manage items consistently and accurately on a daily basis to help control the costs to lower variance and their food costs (Walker, 2010). Usually, discrepancies will show up in the inventory reports. Store managers who receive the inventory reports will have time to remedy the potential problems such as waste in the kitchen, improper costing, or poor recipe control and adjust par levels of...
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...Report Organization Capacity Management, Citibank Analyzing branch banking services and operations for improving process turnaround time and operational efficiency resulting in customer delight. Saryu Kamra & Anubha Mathur 7/14/2011 ABSTRACT This project on Branch Banking Operations attempts to trace and map the branch banking processes end to end and identify all non value added activities and wastages in terms of time so that the Turn Around Time for Customers as well as time required for completion of any transaction or instruction can be reduced considerably. The data collection was divided into two parts, first at individual level and then at the process level. For the former, a chart was prepared for different individuals to map their daily activities and the time taken for these so as to make a comparative analysis vis-à-vis their efficiency in terms of the time spent with the customer and processing further. For the latter, a time and motion study was carried out to map the various Branch activities which were broken down to the micro level to analyze the wastages and superfluous activities involved in the processing of different instructions with the help of Value Stream Maps. The wasteful activities were then identified using the Lean Model introduced by Toyota Production System and classified into seven different categories. These were then individually analyzed and the extent of their effects on various activities and processes were analyzed and recommendations...
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...planBUSINESS PLAN Silknet Agro Introduction: No other fabric has fascinated man so continuously over millennia as silk. It is royal in its splendor, exotic and sensuous in its radiance. An aura of luxury has always surrounded and still surrounds, cloths made of silk. No other fabric drapes more beautifully or flatters the body more than silk. The present global scenario clearly indicates the enormous opportunities for the Indian Silk Industry. The need of the hour is to produce more silk with reduced cost of production to meet the growing demands of quality silk. Realising this, the Govt. of India is taking all out efforts to boost production in the country with the technical support from Japan The Purpose of Business Plan: The purpose of the Business plan is to help us acquire fund for the set-up of the Infrastructure, i.e. 1. Procurement of Mulberry Sampling 2. Constructing Cocoon Rearing Shed 3. Employ Laborers 4. Procurement of Coconut Sampling 5. Procurement and Laying of Drip Irrigation System 6. Construction of Water Tank for Irrigation 7. Office Room 8. Purchase of Tractor 9. Purchase of Electronic Branch Cutting Machine THE COMPANY: With the above background we the students of UNITEDWORLD School of Business, Hyderabad have decided to embark on the journey towards self reliance in the field of Sericulture. We are called “Silknet”, an Agro firm into Moriculture, Silk Rearing and Marketing of Cocoons. We have acquired...
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...suitably arranged data for the purpose of control and guidance of management. It includes the ascertainment of the cost of every order ,job contract, process, service or unit as many be appropriate. It deals with the cost of production, selling, and distribution. It is thus the provision of such analysis and classification of expenditure as will enable the total cost of any particular unit of production or service to be ascertained with reasonable degree of accuracy and at the same time to disclose exactly how such total cost is constituted( i.e. the value of material used, the amount of labour and other expenses incurred ) so as to control and reduce its cost. According to Wheldon, “Cost accounting is the application of accounting and costing principles , methods and techniques in the ascertainment of costs and the analysis of saving/or excess cost incurred as compared with previous experience or with standards. Thus , cost accounting relates to the classification, ascertainment of cost and its accounting and control relating to the various elements of cost. It establishes budgets and standard cost and actual cost of operations, processes , departments or products and the analysis of variances , profitability and use of funds. Scope of Cost Accounting The terms ‘costing’ and ‘cost accounting’ are many times used interchangeably. However, the scope of cost accounting is broader than that of costing. Following functional activities are included in the scope of cost accounting: ...
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...HUMAN RESOURCE PLANNING The nature of HR planning • Hard dimension – quantitative analysis of employment issues. Soft dimension – creating and shaping the culture – which looks at integrating corporate culture and; employee belief and behavior (Marchington and Wilkinson, 1996) The aims of HR planning Aim is basically to obtain and retain the people in terms of quantity and quality by: • Anticipating problems • Developing a well training and flexible workforce • Acquiring the capability to reduce the organizations dependence on external recruitment The stages of HR planning CORPORATE PLAN HR Plan Demand Supply Internal Auditing Forecasting Forecasting External Auditing Labour Surplus Or Labour Deficit Action Plan Evaluation Analysing utilization • Manpower inventory • Due to pressure of reducing cost, improving quality, measuring/analyzing & improving performance, innovative job design and reward system Forecasting demand • Involves reviewing and estimating HR requirements in terms of quantity and type of employees by referring to corporate plans, forecasting output requirements and projected productivity changes. • Staffing required both for short-term and long term operational...
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...Unit 9 – Training This document is a report regarding on training in the business world and this report includes the following: * Expected outcomes * Process of identifying needs * Training methods used * Costs and benefits of training methods used * Constraints (factors affecting training methods used) * Appropriateness and an evaluation of training programmes Training refers to acquiring job specific skills and abilities, learned at work or somewhere else and provides employees with new skills and knowledge. There are 3 methods of training that can be used in the business and these are: * Induction * On-the-job training * Off-the-job training Induction Training is a programmed designed to introduce new employee to their job and it is used to explain the roles of the staff, familiarise the worker with their job, explain the procedures used in the business, make the employee as efficient as possible and encourage the new workers to be committed to the organisation. During the training, the new workers will have the opportunity to; ask questions, find out what goes on and where to go, meet the people they will be working with and familiarise themselves with the workplace. On-the-job Training is where a worker remains at their usual place of work and learns how to do their job (e.g. doctors). The advantages of this type of training are that, it is easy to organise, specific to the job and the business and it is relatively cheap....
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...Assignment Describe SWOT analysis as a way to guide internal environment. How does this approach reflect the basic strategic management? Contents 1.0 INTRODUCTION 3 1.1 Overall description of SWOT analysis 3 1.2 Overview of the elements of the SWOT analysis 3 2.0 SWOT analysis as a way to guide the internal environment 4 2.1 How SWOT analysis prevents weaknesses and maintains strength 4 3.0 How SWOT analysis reflects the basic strategic management 5 Conclusion 7 References 7 1.0 INTRODUCTION 1.1 Overall description of SWOT analysis SWOT analysis is an analytical method which is used to identify and categories significant internal (Strengths and Weaknesses) and external (Opportunities and Threats) factors faced either in a particular arena, such as an organization, or a territory, such as a region, nation, or city. It provides information that is helpful in matching the firms' resources and capabilities to the competitive environment in which it operates and is therefore an important contribution to the strategic planning process. It should not be viewed as a static method with emphasis solely on its output, but should be used as a dynamic part of the management and business development process. Strategic planning depends on a clear understanding of your organization’s resources and Capabilities, as well as critical ingredients that are lacking. The assessment of organizational Strengths and weaknesses and opportunities and threats must...
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...A SUMMARY OF THE BUSINESS PROCESS MANAGEMENT GUIDE BOOK: An Integrated Enterprise Excellence BPM System - BY FORREST BREYFOGLE Objective: How the Reader, As Well As Organizations Can Benefit From the Methodology Described In the Book Introduction In the era where nearly everything is changing very fast, including technology, most organizations are forced to keep abreast with these changes, lest they become obsolete. And, it is with this tone, that organizations are looking for ways to run their daily business operations efficiently. Nevertheless, organizations have no other choice, but to fully embrace, the business process management techniques. Ideally, BPM is applied around identifying, as well as documenting core business operations within the business enterprise. Moreover, the whole technique revolves around main business processes such as, responsibilities, roles, inputs and outputs, and time or rather duration spent on doing a certain activity. However, a lot has been performed by organizations to manage and control business process effectively, realize main ones that will be done solely by the enterprise, while the less important ones to be delegated to vendors through outsourcing. With all the quickly changing directions and needs of business is making organizations to increase their concentration on business process management (BPM). Contrary to many peoples’ belief, BPM is a discipline. It is not an initiative put in place to improve business processes. Again...
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...org-the acquisition(capture),use and development of Human capital and knowledge assets Workfoce Planning(HRP)=>Preparing to recruit=>Attracting Staff=>Recruiting and selecting staff=>Developing and retaining staff. Step:Environmental Scanning(External and internal)=>Labour Demand Forecasting=>Labour supply analysis=>Balancing demand and supply Emphasied the need to diagnose(discover) the real reasons for mismatches in supply/demand Using a mix of qualitative and quantitative techniques It Involves: Forecasting labour requirement for an org Predicting likely(will happen) sources Environmental Scanning Development of Objective and Goals Formulating the necessary steps to meet needs Evaluation(Judgement) of the planning process The HR Planner should: 1st Analyzing Environmental Factors and Organization Direction=>Forecasting Demand Analyzing Internal & External Workforce=>Forecasting Supply 2nd Planning in HR,Employee Development,Finance &Budget and Logistical(Back of the Field) 3rd Implementing(Action!) Strategy,Process,Operational Changes and Evaluation&Feedback Notice*** Stages of HRP: Stage 1:Analysis: Analyze the environmental factors,organizational direction,internal &external...
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...take decisions for further investment, but management has counter with exceeded cost of its operation. A production process can be defined as one in which the inputs are combined in fixed proportion to obtain the output (McGuigan, Moyer, Harris, 2011). There might be different environmental factor that influences the company performance to bear the losses for the long time. So, due to current performance of the company management compelled to discontinue its operations. In this regard, management has decided for final review, if they can continue its operations and hired a management consultant to review their overall operational situation of the company. Therefore, management consulted has put forward his suggestion that by following Methods Company can compensate its losses and also achieve the targets of profits. Performance evaluation of the company/Month Revenue ($32*6000) $192000 Total labor cost= No. of workers*no. of days*labor rate per day = $140,000 Total variable cost= cost per day*no of days = $40,000 Total cost= Total variable cost + Total labor cost = $180000 *fixed cost exceeding the total revenues, so we assumed it will be$1,000/day => 1,000*20= $20,000 Gross profit/Loss Revenue - Total Cost ...
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...Institution: Date: Flying to the Auto Bailout on a Private Jet Basic problems In this case study, there is wastage of resources. The CEOs of the nation's three largest automobiles uses private jets to attend the corporate public relations congress. This is wastage of resources since they are using private jets to travel when their companies are struggling to stay afloat. Ignorance is another basic problem evident in this case study. These CEOs are very ignorant. They attend the corporate public relation congress in Washington unprepared and thus appear to know nothing about their problems. The three companies, GM, Ford and Chrysler, lack the concepts of public relations. The main issues American economy is melting down. Most of the workers are losing their jobs since the companies cannot handle many workers anymore. The companies have got inadequate cash. Bankruptcy is another main issue experienced in this case study. The General Motors Company and the Chrysler can no longer pay their debts. Key decisions * According to the case study, the leaders have to come up with a new public relations strategy. * The CEOs should correct any mistakes they have made before such as using private jets to travel. * Introduce innovation in products * The auto industry of the US should promote its products. * Ensure transparency in business operations. SWOT analysis Strengths * Availability of resources for the companies * Existence of labor force Weaknesses ...
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...Laser Sintered (SLS) components using genetic algorithm”. The project aims at optimizing the process parameters of the SLS manufactured components using an algorithm by which a product can be made of superior mechanical properties rather than optimizing just one property and to bring Rapid Prototyping into main scale manufacturing of components. I was also able to co-author three international journal publications, one being on “the early cost estimate of a washing machine using Design for Manufacturing and Assembly (DFMA) Principles” and two others on Rapid Prototyping techniques, thereby reducing the machining time and the wastage of materials during manufacturing and the improving reliability of the products...
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...competitive edge is needed in order to keep ahead of its competitors and to stays competitive and innovative. The Management has recently came up with a new business target or goals for 2012 where they are trying to reduce product defect by 50% and at the same time to have a well competent employees in their own areas of work. This will ensure higher profit when defects and wastage can be reduce or eliminated. In view of the above, Human Resources have been given the assignment to identify problems or issues within the organisation and to propose to the Management on the suitable approach or processes in determining for such needs. Hence, Human Resource has proposed to the Management Training Needs Analysis as series of activities conducted to identify problems or other issues in the workplace and to determine whether training is an appropriate response. The needs are usually the first step taken to cause a change. This is mainly because a needs analysis specifically defines the gap between the current and the desired individual and organisational performances. TNA or Training Needs Analysis was never conducted before at this company as it is still newly operated and only now that the Management is focusing towards the competency of the employees and it has been given a priority as to maximise output. Although there was no actual time frames given by the Management...
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