If a Quality Improvement Plan Is Implemented and Then Periodically

question 36

Multiple Choice

If a quality improvement plan is implemented and then periodically evaluated and it is discovered that the plan did not show improvement,what should be done?

• A)Earlier assumptions need to be reevaluated
• B)Standardize for the future
• C)Celebrate
• D)Recap and summarize what was learned
• E)Identify the gaps between actual and preferred situations

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Definitions:

Inventory Turnover

A measure of how many times a company's inventory is sold and replaced over a period.

Days' Sales Uncollected

A financial metric that measures the average number of days it takes a company to collect payment after a sale has been made.

Days' Sales In Inventory

A financial metric that estimates how many days it will take to sell the entire inventory, indicating the liquidity of inventory.

Profit Margin

A financial metric that measures the extent to which a company or business activity makes money, expressed as a percentage of revenue.