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Pie
2 years ago
7

Define Total Quality Management. Explain how important of TQM in a coffee store chain and provide examples.

Business
1 answer:
Effectus [21]2 years ago
8 0

Answer:

Total quality management (TQM) is an ongoing process for manufacturing errors to be detected and minimized or eliminated, the management of the supply chain is simplified, customer experience improved and training for employees is up to date.

Explanation:

The overall quality management aims to ensure the overall quality of the final product or service is accountable to all the parties involved in the production process.

Comprehensive quality management is a continuous detection and eradication process. Total quality management (TQM).

It is used for streamlining supply chain management, improving customer service, and providing training for employees.

The goal is to improve the quality of the products and services of an organization by continuously improving internal practices.

Total quality management is intended to make all involved parties responsible for the overall quality of the final product or service in the manufacturing process.

TQM approach requires small companies to understand (and are) their existing customers, to recognize and keep these expectations at the forefront of their strategy and processes. TQM approach This principle should also apply to internal customers who treat employees like customers and meet their demands.

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A company purchased a computer system at a cost of $25,000. The estimated useful life is 8 years, and the estimated residual val
FrozenT [24]

Answer:

$4,687.50

Explanation:

The computation of the depreciation expense of the second year using the double-declining method is shown below:

First we have to determine the depreciation rate which is given below:

= One ÷ useful life

= 1 ÷ 4

= 12.5%

Now the rate is double So, 25%

In year 1, the original cost is $25,000, so the depreciation is $6,250 after applying the 25% depreciation rate

And, in year 2, the ($25,000 - $6,250) × 25% = $4,687.50

5 0
3 years ago
Chavez Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $46,000 $39,50
Archy [21]

Answer:

Cost of goods manufactured= $228,700

Explanation:

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 25,500 + (46,000 + 75,500 - 39,500) + 100,500 + (68,500 - 11,800) - 36,000

cost of goods manufactured= $228,700

We deduct the indirect material from overhead because it is already incorporated into direct materials.

6 0
3 years ago
Suppose an economy has 10,000 people who are not working but looking and available for work and 90,000 people who are working. W
Daniel [21]
<h3>In the given scenario unemployment rate is 10% </h3>

Explanation:

In the given problem,

Number of People who are working is 90,000

Number of People who are not working but looking and available is 10,000

Unemployment rate = Percentage of the total labor force that is unemployed but actively looking for employment and ready to  work.  

Unemployment rate = ((Unemployed people * 100) / (Total people in an economy (Working + Available for work)))

Unemployment rate = ((10000 * 100) / (90000+10000))

Unemployment rate = (1000000 / 100000)

Hence, Unemployment rate = 10%

5 0
3 years ago
Read 2 more answers
Can someone help me figure this out?
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Answer:

I can help call me 8470589364

4 0
3 years ago
SWOT analysis is useful in part because it obliges the firm to act proactively by putting an emphasis on identifying opportuniti
S_A_V [24]

Answer: True

Explanation:

SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis is very popular because even though it appears simple, it can have such a massive impact on a company because it alerts Management to opportunities that exist to take the firm forward.

It also speaks to the company on ways to converge strategies that aim to harness the strengths or weaknesses in a Firm's INTERNAL and EXTERNAL environment with the aformentioned OPPORTUNITIES and THREATS thereby leading to a COMPLETE decision making process and result that can serve to push the company to be Proactive in taking strides that will grow the company.

SWOT analysis is a pure example of, "Simplicity is the ultimate Sophistication".

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3 years ago
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