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Depreciation is called as notional cost why and explain?
Depreciation is called a notional cost because it cannot be measured in real terms.
What is logistic audit and role of audit for logistic performance?
A Logistics audit is an unbiased assessment by an independent party of all aspects of a client's supply chain system, including supplier and customer relations, planning procedures, document flow, logistics infrastructure, quality control and correspondence of logistics costs to local market conditions.In-depth experience and knowledge of best practices help auditors to identify problem areas, potential areas for improvement, and opportunities for the application of advanced technologies.Logistics audit unlocks hidden logistics valueLogistics audit uncovers hidden sources of logistics value and develops a plan for an optimal logistics function by improving operational efficiency through better logistics system management including integration and close coordination of the supply chain components.
The most useful evaluation of a manager's cost performance is based on?
Balls
The following data is received from your contractor Budgeted Cost of Work Performed (BCWP) 400 Cost Performance Index (CPI) 1.0 Budgeted Cost of Work Scheduled (BCWS) 500 Schedule Performance Index (S?
With a Budgeted Cost of Work Performed (BCWP) of 400 and a Budgeted Cost of Work Scheduled (BCWS) of 500, the project is behind schedule, as indicated by the Schedule Performance Index (SPI), which is calculated as BCWP/BCWS (0.8 in this case). The Cost Performance Index (CPI) of 1.0 suggests that the project is on budget, as it indicates that for every dollar spent, a dollar's worth of work has been completed. Overall, while costs are being managed well, the project needs to improve its schedule performance.
How is the flexible budget information used to evaluate performance?
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
Why logistics variables and cost interact in a complex and indirect way?
Quick Response has become a core strategy to increase competitiveness and has been widely implemented in logistics. Previously, variables affecting logistics quick response have been widely studied from the perspectives of assessment on logistics performance or supply chain performance, primarily in the USA and EU contexts. This paper analyzes the key variables to assess logistics quick response capability in China. It analyzes empirical data collected from 50 experts and professionals in logistics field to identify a hierarchy of the variables. The results indicate that, in the Chinese context, internal variables have a higher impact on logistics quick response than external ones. Moreover, variable customer service was viewed as the most important one, followed by variables of time management and logistics cost. Therefore, the study results in a first layer assessment variables which is composed of the 7 internal variables.
What do DoD managers need in order to determine the impact of funding increase or decrease on logistics performance over time?
Quantifiable Performance Measures
How is school performance measured?
ppp
How is performance measured in activity-based management?
Performance is measured by a financial or nonfinancial indicator that is causally related to the performance (adding value to a product or service) of an activity and can be used to manage and improve the performance of that activity.
What is the meaning of the term performance?
Performance means the accomplishment of a given task measured against preset known standards of accuracy, completeness, cost, and speed. In a contract, performance is deemed to be the fulfillment of an obligation, in a manner that releases the performer from all liabilities under the contract.
The performance of a processor can be measured using?
throughput
Why logistics variable and costs interact in a complex and indirect way?
Quick Response has become a core strategy to increase competitiveness and has been widely implemented in logistics. Previously, variables affecting logistics quick response have been widely studied from the perspectives of assessment on logistics performance or supply chain performance, primarily in the USA and EU contexts. This paper analyzes the key variables to assess logistics quick response capability in China. It analyzes empirical data collected from 50 experts and professionals in logistics field to identify a hierarchy of the variables. The results indicate that, in the Chinese context, internal variables have a higher impact on logistics quick response than external ones. Moreover, variable customer service was viewed as the most important one, followed by variables of time management and logistics cost. Therefore, the study results in a first layer assessment variables which is composed of the 7 internal variables.
Why is it important to have an integrated approach to logistics?
Logistics refers to the system of flow of material across the complete supply chain of an organization. The efficiency and effectiveness of the logistics effects many aspects of business including cost, lead time, customer service levels, product availability and inventories. The logistics function includes three distinct areas, incoming logistics, in plant logistics, and out bound logistics. The distribution network comprises the network of organizations and facilities responsible for the out bound logistics. Thus structuring of distribution is a very important part of improving the integrated logistics performance, and the integrated logistics performance is a major contributor of the total business performance.Today, more and more companies are adopting the concept of integrated logistics management.This concept recognizes that providing better customer service and trimming distribution costsrequires teamwork, both inside the company and among all the marketing channel organizations. Inside, the company's various functional departments must work closely together to maximize the company's own logistics performance. Outside, the company must integrate its logistics system with those of its suppliers and customers to maximize the performance of the entire distribution system. In most companies, responsibility for various logistics activities is assigned to many different functional units-marketing, sales, finance, manufacturing, purchasing. Too often, each function tries to optimize its own logistics performance without regard for the activities of the other functions. However, transportation, inventory, warehousing, and order-processing activities interact, often in an inverse way. For example, lower inventory levels reduce inventory-carrying costs. But they may also reduce customer service and increase costs from stock outs, back orders,special production runs, and costly fast-freight shipments. Because distribution activities involve strong trade-offs, decisions by different functions must be coordinated to achieve superior overall logistics performance. The goal of integrated logistics management is to harmonize all of the company's distribution decisions. Close working relationships among functions can be achieved in several ways. Some companies have created permanent logistics committees made up of managers responsible for different physical distribution activities. Companies can also create management positions that link the logistics activities of functional areas. Many companies have a vice president of logistics with cross-functional authority. The important thing is that the company coordinate its logistics and marketing activities to create high market satisfaction at a reasonable cost.
The Incident Commander may ask me for cost savings recommendations. Who am I?
logistics
What is the difference between logistics and warehousing?
Actually, warehousing is a subset of logistics, not a separate activity.Warehousing is holding inventory in a location. Logistics is the entire process of obtaining materiel from sources to putting it in the hands of users. Logistics includes transportation, information systems, warehousing and distribution, procurement, finance, performance metrics and so on.
Big Wheels?
Logistics
What is project performance monitoring?
Project performance is measured by comparing the project execution to the performance measurement baseline, which is an approved integrated plan for scope, schedule, and cost for the project, as explained here:• Cost baseline - This is the planned budget for the project over a time period, used as a basis against which to measure, monitor, and control the cost performance of the project. The cost performance is measured by comparing the actual cost to the planned cost over a time period.• Schedule baseline - This is a specific version of the project schedule developed from the schedule network analysis and the schedule model data. This is the approved version of the schedule with a start date and an end date, and it is used as a basis against which the project schedule performance is measured.• Scope baseline - This is the approved project scope that includes the approved project scope statement, the WBS based on the approved project scope statement, and the corresponding WBS dictionary.
