Identify the five major tools of process analysis and design. Describe them in a sentence or two each
What will be an ideal response?
A flowchart is a schematic or drawing of the movement of material, product, or people. Time-function mapping is a flow chart, with the addition of time on the horizontal axis. Value-stream mapping shows how to add value in the flow of materials and information through the entire production process. Process charts use symbols, time, and distance to provide an objective and structured way to analyze and record the activities that make up a process. Service blueprinting focuses on the customer and the provider's interaction with the customer.
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Which of the following describes the cash budget?
A) It aids in planning to ensure the company has adequate inventory and cash on hand. B) It captures the variable and fixed expenses of the business. C) It depicts the breakdown of sales based on terms of collection. D) It helps in planning to ensure the business has adequate cash.
Unit cost is calculated by the difference between fixed costs and variable costs
Indicate whether the statement is true or false