Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
linear programming this section introduces the general method called the simplex algorithm which is designed to solve any linear program
disadvantages of simulation1 although all models are simplification of reality they may still be complex and require a substantial amount of
advantages of simulation1 it can be used in areas where analytical techniques are not available or would be too complex2 constructing the model
the role of computers in simulationcomputers can be used to1 to generate the random numbers2 to simulate thousands of trials this is done extremely
constructing the modelsteps1 identify the objectives of the simulation a detailed listing of the results expected will help to clarify the output
types of non-controlled variablesa parametersthese are input variables that for a given simulation have a constant value they are factors which help
input or exogenous variablesthese are variables of two types1 controlled variables these are variables that can be controlled by management by
types of simulation1 operational gaining methodthis refers to those situations involving conflict of interest among players or decision makers within
model constructionthe success of a simulation exercise is related to the predictive quality of the underlying model so that considerable care should
simulation modelssimulation is a method of analyzing a system by experimentally duplicating its behavior management accountants can be able to make
simple queuesa simple queue has the following characteristics1 there is a simple service channel2 there are lsquodiscretersquo customers eg customers
queue discipline1 it refers to the manner in which customers behave in a queue and to the order in which they are served up for illustration a
features of a queuea calling population ndash refers to the number of potential customers this number may be considered finite or infinite an
queuing problemsthere are two main approaches to queuing problemsbull simulationbull queuing theory formulawhere simple
queuing theorywhen limited facilities faildelays to satisfy demands made upon them problems occur which generate queues or waiting lines
financial managers role in inventory managementthe techniques of inventory management are very useful in determining the optimum level of inventory
jit and management accounting management accountants in many organizations have been criticized because of their failure to change their managing
jit purchasing arrangementsjit philosophy also extends to adapting jit purchasing techniques whereby delivery of material immediately precedes their
batch size of oneset up time is the amount of time needed to adjust tools and to retool for various product long set ups a change over time make the
factory layoutthe first stage of implementing the jit manufacturing techniques is to rearrange the factory floor away from the batch production
elimination of non-value added activityjit manufacturing can be described as a philosophy of management dedicate to the elimination of waste waste is
major features of jit1 elimination of non-value added activity jit manufacturing can be described as a philosophy of management dedicate to the
jit purchasingon the other hand is a purchasing system in which material purchased are contracted so as that the receipt and usage of materials to
just-in time jit inventory managementjit is a system whose purpose is to generate or to purchase products or components as they are required by
implementation of abc analysisthe following steps are included in implementing the abc analysis1 categorize the items of inventories establishing the