Largest non- labor cost of the operating budget

Assignment Help Operation Management

Reference no: EM131411967

The largest non- labor cost of the operating budget in most healthcare organizations are materials, supplies, pharmaceuticals and the changing demand for healthcare services. Any mismanagement and lack of supervision can have a significant impact on the budget of the organization (Nowicki 238). Inventory management is essential to ensure that items are being used and money is not tied up in the inventory. Unused items, for extended period of time may affect the cash flow of the organization. At what point do we apply the first-in, first-out (FIFO); last-in, first-out (LIFO) principle? How important is it for organizations to use the FIFO and LIFO system of inventory? How does it affect cash flow?

Reference no: EM131411967

Questions Cloud

Relationship between careful observation-critical thinking : What is the relationship between careful observation and critical thinking? What is the role of feelings in the thinking process? What obstacles that impede the critical thinking process? What are the differences between facts and inferences?

What is the current value of my company : My company expects to pay dividends (per share) of $0.60, $0.90, $2.40, and $3.50 during the next four years. Beginning in the fifth year, the dividend is expected to grow at a rate of 4% indefinitely. If investors require a 20% return to purchase..

What is probability that person actually has esp ability : Researchers are screening people for potentially gifted ESP participants for a later experiment.- What is the probability that someone who is just guessing will be accepted for the later experiment?

Are robots hurting job growth : Are Robots Hurting Job Growth? What are the pros and cons of robotics with respect to value creation in SCM? Has automation impacted you in your own work experiences?

Largest non- labor cost of the operating budget : The largest non- labor cost of the operating budget in most healthcare organizations are materials, supplies, pharmaceuticals and the changing demand for healthcare services. Any mismanagement and lack of supervision can have a significant impact on ..

Team member on major project for a defense contractor : You are a team member on a major project for a defense contractor. Your supervisor has just called an “urgent meeting” to discuss the current problems with the project’s progress. The project is months behind and slightly over budget.

What does civic engagement mean to you : What does civic engagement mean to you? Why do you think it is important for students to be civically engaged - What experiences have you had working together with someone or some group to solve a problem in a community where you live/have lived?

What is estimated probability that sum of the five dice : The number of times the sum of the five tosses equaled 27 was 45. What is the estimated probability that the sum of the five dice will be 27?

Conducting a performance evaluation of a subordinate : Your peer (a first line supervisor at a major retail store) is conducting a performance evaluation of a subordinate in the break room, where numerous other employees are eating lunch. Your peer is raising their voice and noticeably frustrated with th..

User Account

All Pages