21. Backwoods American, Inc. produces expensve water repellent down-filled parkas. The company implemented a total quality manage- ment program in 2014. Following are quality-related accounting data that have been accumulated for the fiveyear period after the program's start. Year 2015 2016 2017 2018 2019 Quality Costs (000) Prevention $3.2 10.7 28.3 426 50.0 Appraisal 26.3 29.2 30.6 24.1 19.6 Internal failure 39.1 51.3 48.4 35.9 32.1 External failure 118.6 110.5 105.2 91.3 65.2 Accounting Measures (000s) Sales $2,700.6 2,690.1 2,705.3 2,310.2 2,880.7
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
- Nonfinancial (Operational) Control Measures: Environmental Performance Assumethat the company for which you are working is interested in implementing a comprehensivemonitoring and control system regarding environmental performance. The company is convinced that improved performance in this area will lead to reduced costs, an improved corporate image, greater market share, and ultimately to greater financial returns. To supplement anumber of financial performance indicators in the area of environmental quality, the companyis interested in developing a set of nonfinancial performance indicators, which (it is hoped) willmotivate better environmental quality. In this regard, the company has embraced five strategic objectives: minimize hazardous materials, minimize raw/virgin materials usage, minimizeenergy requirements, minimize release of residues into the environment, and maximize opportunities to recycle.RequiredFor each of the five strategic objectives referenced above, provide at…STAT 382 (page 3 of 10)-Google Chrome arn.squ.edu.om/mod/quiz/attempt.php?attempt D17403728icmid 8666708page-2 E-LEARNING SYSTEM (ACADEMIC) me Series forecasting for Business || Spring21 Time left 0:30:09 stion The predicted monthly sales for a company over the first six months of 2010 are 360, 385, 275, 300, 312, and 307. Find the standard deviation. put of O A. 33.74 O B. 41.04 O C. 40.72 O D. 41.72 IOUS PAGE NEXT PAGE2.1. Backwoods American, Inc., produces expensive water-repellent, down-filled parkas. The company implemented a total quality-management program in 2014. Following are quality-related accounting data that have been accumulated for the five-year period after the program’s start. Year 2015 2016 2017 2018 2019Quality Costs (000s)Prevention $3.2 10.7 28.3 42.6 50.0Appraisal 26.3 29.2 30.6 24.1 19.6Internal failure 39.1 51.3 48.4 35.9 32.1External failure 118.6 110.5 105.2 91.3 65.2Accounting Measures (000s)Sales $2,700.6 2,690.1 2,705.3 2,310.2 2,880.7Manufacturing cost 420.9 423.4 424.7 436.1 435.5 a. Compute the company’s total failure costs as a percentage of total quality costs for each of the five years. Does there appear to be a trend to this result? If so, speculate on what might have caused the…
- Q1. Outline underlying reasons for poor quality that may have impacted Airbnb.Q2. Examine to what extent Airbnb has the financial capabilities and competent employees to improve quality. Q3. Make recommendations to Airbnb, to improve the quality of their service by ensuring that your group suggest a suitable total quality management concept.Below are the details of the role and areas that the directors should address during the meeting.Is sensitivity analysis a concept applied to LP only, or should it also be used when analyzing other techniques? Provide a specific non-monetary example and explain.Cost-of-Quality (COQ) Reporting; Spreadsheet Application Carrie Lee, the president of LeeEnterprises, was concerned about the results of her company’s new quality control efforts. “Maybethe emphasis we’ve placed on upgrading our quality control system will pay off in the long run, butit doesn’t seem to be helping us much right now. I thought improved quality would give a real boostto sales, but sales have remained flat at about $10,000,000 for the last 2 years.”Lee Enterprises has seen its market share decline in recent years because of increased foreigncompetition. An intensive effort to strengthen the quality control system was initiated a year ago (onJanuary 1, 2020) in the hope that better quality would strengthen the company’s competitive position and reduce warranty and servicing costs. The following costs (in thousands) relate to qualityand quality control over the last 2 years:[LO 17-5, 17-7]2019 2020Warranty repairs $420 $140Rework labor 140 200Supplies used in testing 4…
- example of the USES of Statistics, AND one practical example of the ABUSES of Statistics.What is the science of statistics? Why is it important in quality management?Rubatex Corporation manufactures rubber and foam for a variety of products, including artificial turf housing and insulation, hockey helmet liners, scuba diving suits, sports sandals and mouse pads. The company was purchased by an investment firm called American industrial partners (AIP) that has so far earned only a 1 percent return on its investment. Obviously the company is having problems. Its sales are up but earnings are down. In the first three months after acquisition, the company lost $2 million on $68 million in sales. Understandably, AIP wants to know why and is demanding aggressive action. Employees at the Bedford, Virginia, plant say they know something’s wrong. The plant is hot and dirty and crumbling, and they are working harder to produce items of poorer quality. Fewer than 7 of 10 orders are shipped on time, and 2% of sales are returned as defective. Built in 1924, the plant sprawls over 14 buildings, with only the offices and lunchroom air-conditioned. Equipment is…