How Can Flow Diagrams and Process Charts Be Used to Study

question 101

Essay

How can flow diagrams and process charts be used to study and improve operations? Include descriptions of these two tools, the types of questions that can be addressed with them, and the extent to which teams can be used. Be as complete as time permits.

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Definitions:

Cash Payments

Monetary transactions involving the transfer of cash from one party to another, usually in exchange for goods or services.

Budgeted Cash Payments

An estimate of all cash payments that a company plans to make over a specified period, often part of a comprehensive budgeting process.

Continuous Twelve-Month Budget

A financial planning document that forecasts revenues and expenses on a rolling monthly basis for a year.

Production Budget

An estimate of the total cost of production, including raw materials, labor, and overhead, for a specific period.