How Can Flowcharts and Process Charts Be Used to Study

question 132

Essay

How can flowcharts 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.

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Definitions:

Cash Flows

The comprehensive total of cash and similar to cash assets transferred into and from a business.

Payback Period

The duration needed to recoup the funds spent on an investment.

Initial Cost

The initial expenditure involved in starting a project, purchasing an asset, or initiating an investment.

Net Cash Inflows

The amount of cash that a company receives during a specific period, minus the amount of cash outflows.