The final step in the business process management approach is the continuous measurement phase.
Business process management (BPM) is a discipline that uses a variety of methods to discover, model, analyze, measure, improve, and optimize business processes. Business processes coordinate the actions of people, systems, information, and things to achieve business outcomes that support business strategy.
Business process management (BPM) follows a process. Design, analyze, improve, monitor, and optimize. The main goals of management are: Combine information for timely and easy access, analysis, and improvement. Automatically synchronize information entered into the system.
The need and benefits of business processes are evident in large organizations. Processes are the lifeblood of any business and help streamline activities and make optimal use of resources.
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Answer:
If the firm is going to need less than 50,000 motors, they should purchase them from the outside vendor.
If the firm is going to use between 50,000 to 59,999 motors, it should use process A.
If the firm expects to use 60,000 or more motors per year, it should use process B.
Explanation:
Process A:
contribution margin per unit = $11 - $7 = $4
break even number of units = $200,000 / $4 = 50,000 units
Process B:
contribution margin per unit = $11 - $8 = $3
break even number of units = $180,000 / $3 = 60,000 units
Answer: 214800
Explanation:
The number of units that should be produced in January, 2013 in order for the company to meet its goals will be:
= Budgeted sales + Ending inventory - Beginning inventory
= 204000 + (240000 × 30%) - 61200
= 204000 + 72000 - 61200
= 214800
Therefore, 214800 units should be produced.
Answer:
a) 493.71
b) 987.42
c) 987.42
Explanation:
a) The formula for Economic Order Quantity (EOQ) is :
EOQ = 
where
- D : Demand in Units (typically on annual basis)
- S : Order cost (per purchase order)
- H : Holding Cost (per unit, per year
Therefore EOQ = 
EOQ = 493.71
b) Annual Holding Cost= (Q * H) / 2 = 
= 987.42
c) Annual ordering cost = (D * S) / Q = 
= 987.42
