Premium Essay

Mt435-01 Operations Management

In:

Submitted By jlhauss
Words 469
Pages 2
Quality Management and Lean Systems

MT435-01 Operations Management
Professor: Cuneyt Altinoz
September 7, 2014

Quality Management and Lean Systems Managerial accounting can provide and prepare economic and financial information for manager and internal users (Weygandt, Kimmel, & Kieso, 2012). This paper will reflect some of the key concepts and topics and how this course has affected my personal, professional, and academic development perceptions, in which have provided a better understanding and confidence in today’s account for a small or large business organization. The course has provided many key concepts and topics to review and some of the concepts to have impact my learning and open my eyes to small and big business accounting practices such as the differences in account of the planning, directing, and controlling. The breakdown of those functions has helped with the understanding of how accounting is directed by the management teams of a small or large organization. The other key concepts and topics discussed throughout the term and I was able to recognize was the use of the cost-volume-profit analysis formulas to show the health of an organization from a small to large budgetary planning to see your spending habit. The statements of cash flow for the showing of where you or your organization is using funds for development of products such as material and manufacturing. The financial statements to review with the stakeholders and other invested in a small or large organization. The formulas of the horizontal to vertical analysis to show of the health of company’s balance sheets and the different area of ratios analysis, to keep an eye on the loss prevention and balance of the month to date or year to date costs. All of the areas of accounting processes are to keep from running of a business from a negative to a positive

Similar Documents

Premium Essay

Albatross Anchor

...disorganized, and run inefficiently. The plant is antiquated, worn, dirty, and technology-deprived and it no longer meets all U.S. safety and environmental standards. The owners of this small business have added on various processes as needs arose; within the limited space of the plant. When Albatross Anchor first opened its doors their expertise was in the manufacturing of bell/mushroom anchors (using a foundry process). In 1989, in response to international competition, the owners of Albatross Anchor made the decision to expand the product line to include fabricated snag hook anchors. Customers Albatross Anchor is a manufacturing factory that sells only at the wholesale level. Albatross Anchors sales their products in two ways: (01) Distributors that act as the middleman. The distributor accepts bulk delivery of anchors at their large distribution centers. At the distribution center the bulk shipment of anchors is broken up into smaller batches and shipped to individual retail locations....

Words: 864 - Pages: 4

Free Essay

Albatross Anchor Unit 6

...Unit six Written Assignment Tamisha Matus MT435 Operations Management Kaplan University December 16, 2011 Introduction Question One Carefully review the assignment scenario/case study. From the limited information in the scenario/case study, along with your answers to the unit three written assignment, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable competitive advantage (provide detailed information to validate and support each recommended change) Long-Term Operational Changes (01) Improved technology to increase efficiency and effectiveness throughout the plant. Without a doubt, old technology makes it harder for the manufacturing process and takes longer to get the products to the end user. A five year plan to update technology would be more cost effective and can address the technology issues on a predetermined plan over the five year term. (02) Purchase new equipment to eliminate sharing manufacturing equipment between the two different types of anchors. The new equipment should be state of the art to assist with the technology upgrades and to get the most for the money. The separate equipment will eliminate the 36 hours of down time necessary to change over the equipment between production runs. (03) Separate manufacturing areas for the snag hook anchor and the bell anchors to increase production. This will tie the...

Words: 942 - Pages: 4

Free Essay

Mt435 Unit 6 Assignment

...Albatross Anchor Unit 6 Unit Six Written Assignment Ury Salinas MT435 Operations Management Introduction Question One Carefully review the assignment scenario/case study. From the limited information in the scenario/case study, along with your answers to the unit three written assignment, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable competitive advantage (provide detailed information to validate and support each recommended change) Long-Term Operational Changes (01) An improvement in technology can increase efficiency and effectiveness throughout the plant. It is obvious that technology changes at such a rapid rate, older technology can slow down or inhibit the manufacturing process, making it longer for the products to reach the consumer. A plan over the span of 3 to 5 years to update technology is realistic because it gives enough time for the updates to be made effectively. (02) The purchase of additional equipment can take away the need to share manufacturing equipment between the two different types of anchors. The new equipment should be top of the line, because this will not only fall in line with the upgrades to technology, but will be the most cost-effective. Time is what will be saved primarily, since the separate equipment will do away with the 36 hours that are needed during equipment change-overs between production...

Words: 976 - Pages: 4

Premium Essay

Unit 6

...six Unit Written Assignment Erica R Watson MT435 Operations Management Kaplan University June 28, 2011 Introduction Albatross Anchors manufactures two different types of anchors to satisfy their wholesale customers. The company once only manufactured the mushroom or bell anchor but when the competition heated up they began producing the snag hook anchor as well, this occurred in 1989. (Case Study) Being that Albatross Anchors is a major manufacturer and that they are continuing to grow it seems as though a bigger more organized workspace is needed to speed up both production and shipment of each anchor order. Question One Carefully review the assignment scenario/case study. From the limited information in the scenario/case study, along with your answers to the unit three written assignment, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable competitive advantage (provide detailed information to validate and support each recommended change) Long-Term Operational Changes (01) A long term operation change that Albatross Anchor needs to make is building another Administrative office that is detached from the warehouse in order to make it both safe and more efficient for all employees. (02)Installing up to date technology into the warehouse and administrative offices will help to gain business and give the company a more smooth transition when taking orders...

Words: 685 - Pages: 3

Premium Essay

Albatross Anchor Unit 6

...Unit Six Written Assignment Naomi Grier MT435 Operations Management Kaplan University March 26, 2012 Introduction Albatross Anchor is a small family owned business that began in 1976 with few family members. The company has grown tremendously over the years causing issues with production and the administrative area is also affected. The plant is technology deprived, dirty, disorganized, and not meeting US safety and environmental standards. As the company grew more processes were added and with the limited space, production was not running smoothly. When Albatross Anchor first opened its doors their expertise was in the manufacturing of bell/mushroom anchors. In 1989, in response to international competition, the owners of Albatross Anchor made the decision to expand the product line to include fabricated snag hook anchors. Albatross Anchor is a manufacturing factory that sells only at the wholesale level. The owners will need to rethink the overall process and layout design of the facility. Once these areas are identified and implemented it will help will sustain a competitive advantage for Albatross Anchor. Question One Carefully review the assignment scenario/case study. From the limited information in the scenario/case study, along with your answers to the unit three written assignment, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable...

Words: 1327 - Pages: 6

Premium Essay

Albatross Anchor Unit 8 Written Assignment

...Isabella Johnson MT435 Unit eight Kaplan University 03/21/2013   Introduction In the last stage of KU Consulting analysis we will examine an in-depth look at Albatross Anchor. Albatross Anchor is a family business that has been in business for over 35 years. During that period they have built long lasting relationships with business partners and recognized in the industry. They have built strong name recognition and known for their quality product. These are some of the strengths that distinguish Albatross Anchor from competition. KU Consulting will address four primary challenges identified and set possible solutions. Also there will be discussion about possible building alternation that will improve Albatross Anchor’s operations. KU Consulting will make it a top priority to not impose a high expense on Albatross Anchor, but only include what is necessary to remain best at operations. Question one Challenge one: Time Management The production timeline for Albatross Anchor’s primary product is currently at a slow pace and affecting their ability to meet their customers demand in a timely manner. One of the most noticeable is that there is a 36 hour changeover period. This creates a high production cost because during this period the employees are still being paid while no goods are being produced. When companies are placing large orders, they are taking on average four weeks to be made. Albatross Anchor maybe losing re-peat business from these clients due to...

Words: 1550 - Pages: 7

Free Essay

Albatross Anchors

...Albatross Anchors has grown tremendously over the years and now employs 130 people. The owners have added on various processes as needs arose, but the plant and buildings are antiquated, dirty, technology deprived, and no longer meet U.S. safety and environmental standards. In order to be able to compete in an ever-expanding market, Albatross Anchors needs to make some upgrades so they can be compliant with the standards. Question 1 Carefully review the assignment scenario/case study. From the limited information in the scenario/case study, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable competitive advantage (provide detailed information to validate and support each recommended change). Long-Term Operational Changes (01) Albatross Anchors first and foremost needs to update their technology in order to increase efficiency and effectiveness throughout the whole plants is the essential link between all supply chain processes and member (Russell, 2014).While a new technology system will be an expensive addition, in the long run it will save the company money. E-business is now replacing physical processes in the business environment by using data interchange, email, EFT, electronic publishing, image processing, shared databases, bar coding, and websites, just to name a few. Updating the technology will save Albatross Anchors labor costs and time among...

Words: 1639 - Pages: 7