5. List and explain at least five efficiency evaluation metrics for collection management
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- A Loan Estimate must be providad to consumer no later than how many business days after w loan application submission? A) 1 business day B) 3 business days C) 7 business days D) 10 business daysResearch on the internet and critically analyze the short-term financial management strategies that business had to undertake for handling operations disruptions like Covid-19.Cash flow; classify the following in the perspective of a business/individual owner. cash in flow cash out flow 1. permits 2.retail sales 3.rents 4.business loan 5.fare 6.water bill 7.salary 8.taxes 9.own professional fee 10.electric bill
- What role does inventory management play in an overall business plan and describe the benefits of just in time inventory management.Describe one of the methods for managing cash disbursements or cash receipts and how it impacts profitability.The revenue cycle management process begins at the time the patient schedules the appointment. This not only allows an ample amount of time for the medical practice to verify information provided but also communicate patient financial responsibility to the patient in advance of the appointment, such as copay amounts or coinsurance, that will be due at the time of service. In your opinion, how can Healthcare Information Systems help to streamline the Revenue Cycle Management process and improve the medical practice’s financial performance?You are currently performing an audit at GoodStar Co. The company manufactures tinned fruits which are supplied to large food retailers. Management team and those charged with governance of GoodStar have concerns about the effectiveness of their sales and collection system and asked you to review the system. Sales and Collection System Sales orders are mainly placed through GoodStar website and customers are also allowed to made orders through telephone. Online orders are automatically checked against the inventory records for availability, while orders received through telephone are checked manually by order clerks after the call. A follow-up call is usually made to customers if there is insufficient inventory. When taking telephone orders, clerks note down the details on paper and afterwards they complete a three-part pre-printed order form. These order forms are sequentially numbered and are sent manually to both delivery and the accounts department. As the company is expanding,…
- As an operations management consultant, you have been asked to evaluate a furniture manufacturer’s cash to cash conversion cycle under the following assumptions: sales of $23.5 million, cost of goods sold of $20.8 million, 50 operating weeks a year, total average on hand inventory of $2,150,000, accounts receivable equal to $2,455,000, and accounts payable of $3,695,000. What do you conclude? What recommendations can you make to improve performance? What would be the impact of reducing the accounts payable from $3,695,000to $2,000,000 and all other data remained the same? Please show in detail these impacts quantitatively in your answers.Explain the benefits of a good inventory management in a organisation. In detail and do not use AI.The Incident Command System (ICS) is a structure and response system that has become the standard in many fire departments, police emergency operations, and emergency management systems across the United States. What are the components of the ICS? Select all that apply. Finance Logistics Planning Operations
- By reversing the directions of arrows of Cash Flow Diagram, the view point also gets changed. Explain this statement with the help of an example?As an operations management consultant, you have been asked to evaluate a furniture manufacturer’s cash-to-cash conversion cycle under the following assumptions: sales of $23.5 million, cost of goods sold of $20.8 million, 50 operating weeks a year, total average on-hand inventory of $2,150,000, accounts receivable equal to $2,455,000, and accounts payable of $3,695,000. What do you conclude? What would be the impact of reducing the accounts payable from $3,695,000to $2,000,000 and all other data remained the same?The following two diagrams represent different inventory and cash payment policies. Please use whatever real-life business you believe is suitable to explain the differences between the two types of business models. Make sure you elaborate on each of the four cardinalities below.