Production and Quality in Scott Bader
Production and Quality is an important function in any business, it is
the basis for meeting customer needs. Scott Bader is an international
company, which operates in 90 countries worldwide there, are
manufacturing sites and networks of agents and distributives all
around the world.
There are some lean production methods, which companies use to reduce
waste and cost of production for a business like Scott Bader to be
successful, and efficient they must have a good production and quality
control system.
They could have use Just-In-Time this method is used to mainly reduce
production times and costs it also reduces the amount of unused stock
left in the business.
Supplies and raw materials turn up at the factory as they are needed,
resulting in very little unused/unneeded stock sitting doing nothing
this means cash flow is improves as the money is not tied up in stock
and can be used somewhere else in the business, this could backfire if
new customers are not taken into account and the business may struggle
to meet orders if their suppliers do not deliver on time. As the
business is very unlikely to buy stock in bulk because of wastage then
it will not benefit from economies of scale which could in fact save
them time and money in the long-run. Each stage of the production
process finishes just before the next stage is due to commence and
therefore the lead-time is significantly reduced. The business can
build strong relationships with suppliers because they are used so
often and communication and cooperation between functions in the
company are improves for example between marketing ...
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...rtnership relationship with their
customers because they understand that it is a two-way process. "We
need to listen to what our customers are telling us and then we need
to act on that.
I think Scott Bader's attitude to customer needs is great they have
the right idea they form customer loyalties and make a good name for
themselves. Scott Bader also give a good after sales care service they
provide particularly with technical support - people in the technical
team can go out to visit customers and will bring the product back
in-house to get their technical people to look at it and resolve any
problems they are having. Scott Bader also helps customers with the
safety issues of their products like how to store them, ventilation,
temperatures, and the use of right equipment. This in a way is abit
like adding value.
Devin Friedman is a creative storyteller who incorporates observant details in his writings, which makes the readers feel like as if they are part of the adventure. Devin attended the University of Michigan, and he was awarded as the winner of the Hopwood Contest. This contest was hosted by the university committee who appoints experienced judges and the Ann Arbor community to select winners in different writing divisions. In his recent years, Devin wrote for numerous publications such as The Best American Crime Writing, The Best American Travel Writing, The New York Times Magazine, Rolling Stone, The New Yorker, Esquire, People's Stories, and GQ. Out of the many articles Friedman has written in the past, “The Best Night $500,000 Can Buy,” “Famous People: James Franco,” and “The Unbearable Awkwardness of Being” are the ones I have chosen to read because of the interesting subject matters and the different writing styles.
Return on sales is decreasing and is below the industry average, but the goods news is that sales and profits have been increasing each year. However, costs of goods are increasing and more inventory is left over each year causing the return on sales to decrease. For 1995, it was 1.7% which is less than the average of 2.44% but is a lot higher than the bottom 25% of companies as seen in exhibit 3, which actually have negative sales return of 0.7%. Return on equity is increasing each year and at a higher rate than industry average. In 1995, it was 20.7%, greater than the average of 18.25% and close to the highest companies in exhibit 3, of 22.1% showing that the return in investment in the company is increasing, which is good for the owner.
...o renegotiate credit agreements with banks. However, the liquidity was a result of structural changes and would not bring significant effect to the company because it is unusual and infrequent (the extraordinary credits of $15 million fall in this category also). The financial report must be consistent year-by-year. A company should do the same or similar activities, especially operating activities, to generate “money” every year and recognize “money” as its profit. However, this is not the case for Harnischfeger. We are doubtful that the company will perform well in the future. The company recorded modest profit this year because it reduced operating cost not because it increased operating revenue. Since Harnischfeger did not generate its profit by operating activity, it would be too risky to predict if its stock price will reach $6.00 per share in the 1986-87.
When I first heard “Quality World,” I thought of everybody having equal right and of civil rights. That was until I found out about a man by the name of William Glasser an American psychiatrist. Glasser, he developed the “choice theory” also known as “quality world”. Which basically says that since you were young have always had an idea of what would make your life perfect and understand what is important to you. So when I visualize my Quality world I see myself seven or nine years in the future out of school and accomplishing my goal to become a lawyer. I grew up in a household with immigrants I always saw how much they would struggle. Yet the one thing that stood out to me was how the lawyer would take advantage of these types of people from
To collect relevant data, the annual percentage change in net income per common share diluted, net income/net revenues, the major income statement accounts to net revenues, return on stockholders’ equity, the price/earnings (P/E) ratio, and the book values per share for each year numbers were examined. In order for Sun Microsystems to see a greater return in its bottom line assets, it must consider an alternative approach in operating its organization.
...hese events happen or minimize the negative impact when they happened. This will stabilize the distributable profit.
...ow valuation has been correctly calculated to show the projected future cash inflow will greater than the present value of the company asset.
This is where the cash flow reaches its peak but also at the point of
... show that the company is growing and expanding, property and inventory, as a percentage of assets, should be increasing instead of decreasing. More property and inventory, if it is not owned by creditors, would also decrease their debt to total assets ratio.
...ccurately reflects the intrinsic value of the company from the shareholders point of view and their expectations of future earnings.
Should financial decisions be put on hold until the markets become stronger? Is it more profitable to act now to better position the company’s market share?” These are all questions that could be clearly answered if the managers had a magical financial crystal ball. In lieu of the crystal ball, managers have a way of calculating the financial risks with some certainty to better predict positive financial investment outcomes through the discounted cash flow valuation (DCF). DCF valuation is a realistic approach, a tool used, to “determine the future and present value of investments with multiple cash flows” over a particular period of time which is incurred at the end of each period (Ross, Westerfield, & Jordan, 2011). Solutions Matrix defines DCF as a “cash flow summary adjusted so as to reflect the time value of money (The Meaning of Discounted Cash Flow, 2014).” The valuation of money paid or received in the future has less monetary value if that same money was to be received or paid today (The Meaning of Discounted Cash Flow, 2014). This cash flow evaluation helps managers in their determination whether or not to invest in research and development, purchase more equipment, enlarge floor space, and increase laborers, or instead, retain net profits. Either way, the DCF valuation gives
...getting the stock are extending money but charging a higher percentage. This extra percentage would not be charged if earnings were reinvested which is internal.
Kaoru Ishikawa was a very influential man in quality management. Ishikawa began his career as a professor at a Japanese University. He lived from 1915 until his death in 1989. Although Ishikawa made many contributions to quality management, he is best known for his cause and effect diagram, known as the “fishbone diagram”. ("Kaoru Ishikawa: the," 2009) The significance of the fishbone diagram is that it is a simple graphical method for presenting a chain of causes and effects and for sorting out causes and organizing relationships between variables. (Evans & Lindsay, 2008)
Therefore, the amount of profit obtained is somewhat arbitrary. However, cash flow is an objective measure of cash and it is not subjected to a personal criterion. Net cash flow is the difference between cash inflows and cash outflows; that is, the cash received into the business and cash paid out of the business (Fernández, 2006). Whereas, net profit is the figure obtained after expenses or cost of resources used by the business is deducted from revenues generated from the business operations activities. Nonetheless, the figure for revenue and cash are not entirely cash, some of the items may be sold on credit and some of the expenses are not paid up
Another is that, the liquidity of the stock increases. This means that an investor can easily trade shares for cash when they want to get out of an investment.