Chemical Inventory Management System David Acker Auburn University Risk management and Safety Abstract Managing chemical inventories at colleges and universities is one of today’s major challenges for higher education. This is especially true for large, diverse, research-oriented institutions like Auburn University. Knowing what chemicals are on site, their hazard potential, who is responsible for them, and where they are located is essential to maintaining a safe campus. Additionally, Federal
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payment of $130,000, which needed to be paid within a month. Reed had made a choice to safe the business, by taking the cash in reserves in the amount of $85,000 and cash inventory in the amount of $491,000. Reed was determined to meet the financial obligation of the business, so he decides to covert a portion of the inventory into cash. Financial ratio analysis will provide the financial standing of the past, present, and future of the company to determine the best way to restore financial standing
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2011 STEVEN C. WHEELWRIGHT WILLIAM SCHMIDT Scientific Glass, Inc.: Inventory Management In January 2010, Ava Beane, the newly hired Manager of Inventory Planning for Scientific Glass (SG), contemplated the critical nature of her first big project with the company. During her interviews for the job, several executives had told her very directly that the company’s need for a more effective way to manage its inventory was urgent. At the time, Beane had felt confident she could address the
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case are as follows: a. Provide an opportunity to review and reinforce basic process measurements such as throughput time, cycle time, work-in-process inventory, labor utilization, and machine utilization in two different operating environments. b. Introduce the reader to a useful application of “Little’s Law,” relating work-in-process inventory and throughput time to cycle time or output rate. c. Introduce the concept and operations of cellular manufacturing system. Emphasize the human resource
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products are produced at different plants around the world. Riordan uses level strategy for their employees. This means that the organization manages to keep a steady labor force at a consistent rate. Riordan’s lost sales, backlogs, and fluctuating inventory levels help to eliminate shortages and surpluses. Full time employees are offered health, dental, and life insurance for themselves and their dependents. They are also offered flexible work schedules, 401k savings plans, paid vacation, holiday pay
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Painting Cost 0.50 Beg. Inventory Woods 11,000 5,500.00 0.21 Purchase Sunset 21,800 4,589.47 0.86 Purchase Earth 31,200 26,742.86 0.75 Purchase Moon 4,000 3,000.00 Woods and Moon were sold during the year for a total $35,000. Determine the firm's: a. Cost of Goods Sold
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will: A) increase contributed capital accounts. B) decrease asset accounts. C) increase liability accounts. D) All of the above. 3. On January 1, 20X1 the Green Acre Company purchased an tractor that cost $25,000; had a five year useful life; and a $5,000 salvage value. Which of the following is the correct general journal entry to record depreciation expense for the 20X2 fiscal year? A) Depreciation Exp. 4,000 Acc. Depreciation
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CHAPTER 6- Cost of Goods Sold and Inventory CHAPTER OUTLINE Nature of Inventory and cost of goods sold Inventory represents products Held for resale and is classified as a current asset on the balance sheet. When companies sell their inventory to customers, the cost of the inventory becomes an expense called cost of goods sold. Cost of goods sold, cost of sales, or cost of merchandise sold, represents the outflow of resources caused by the sale of inventory and is the most important expense
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Dimensions of Service Quality – (Convenience, Reliability, Accuracy, Time, Responsiveness, Courtesy, Tangibles) Pull System = Demand impacts when product is produced Push System = Demand does NOT impact when product is produced Quantifying Queues – Queues are inevitable because there will always be variability, it is important how you manage them - (μ) – Service Rate - Average number of customers that a service provider can serve per unit of time - (λ) – Arrival Rate - Average number of customers
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least cost within the system wide perspective, supply chain management is a dramatic change in behaviour from more traditional management approaches, and it has been motivated by variety of conditions. The most important reasons for the adoption of supply chain management could be able to summarized as it follows; 1. Increased competition to meet customer expectations (value wise). 2. Recognition in which customer decisions as well as actions that often dictate costs and limitations
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