Precision Maintenance is talked about in many companies and implemented at many companies, many with great success, however most companies do not understand Precision Maintenance. In this presentation I clear up some misconceptions and untruths concerning it.
Precision Maintenance is talked about in many companies and implemented at many companies, many with great success, however most companies do not understand Precision Maintenance. In this presentation I clear up some misconceptions and untruths concerning it.
Vskills certification for Payroll Professional assesses the candidate as per the company’s need for developing and managing payroll system for organizations. The certification tests the candidates on various areas in determining rates of pay, compensation management, job analysis, reward management, international compensation strategy, competency and knowledge-based pay, The Gratuity and Bonus Act.
Acting Like a Top 25 Salesforce ISV: Designing the Seller's Journey for the ...CodeScience
Designing a buyer’s trial experience that converts to sales requires tight coordination between your Marketing, Sales, and Support teams. Top 25 ISVs focus on their seller’s journey within the trial experience to increase conversion results.
In our latest webinar of the Acting Like a Top 25 Salesforce ISV series, CodeScience CRO, Sean Hogan, is joined by Craig Rosenberg, Co-Founder and Chief Analyst at TOPO, to discuss how to design a rock-solid seller’s journey.
5 Steps to Getting Organizational Buy-In for Your Enterprise Software ProjectJeff Carr
When looking for a new enterprise software system, your organization must begin your journey by making a business case for enterprise software. This involves numerous steps, including determining an expected return on investment, anticipating total costs, and fully documenting the business case for investing in a new or upgraded system.
Find out how manufacturing and distribution companies can drive an effective justification process with this presentation deck.
Explore five critical areas needed to justify one of the most complex and resource-intensive initiatives your company will face:
- Assess your internal environment
- Fully document your current state
- Clearly map your future state
- Get a handle on total costs of upgrade or new enterprise system
- Accurately calculate ROI
Audit Judgment Please respond to the followingFrom the case st.docxaman341480
"Audit Judgment" Please respond to the following:
From the case study, evaluate the quality of REDTOP’s internal audit function. Based on your evaluation, recommend at least two (2) changes that you would make in order to improve the quality of REDTOP’s internal audit function. Provide a rationale to support your response.
From the case study, give your opinion as to whether or not your external audit engagement team could use REDTOP’s internal audit function in another fashion, as opposed to merely relying on existing internal audits in order to perform the overall audit of REDTOP Sports Company. Recommend one (1) alternative to using the work that the internal audit has already yielded as part of your external audit. Provide a rationale to support your response.
Case Study
TLD CPAs is performing the audit of REDTOP Sports. You are on the external audit team for that engagement. Following is some information about the client and its internal audit function. After reviewing this information, you will be asked to assess the quality of the internal audit function and whether the external auditor should rely on work performed by the internal auditors.
General Background Information about REDTOP Sports
REDTOP Sports Company is a publicly held manufacturing company. The primary activities of REDTOP Sports Company include the design and manufacture of sporting and athletic goods. The major product lines are bicycle helmets for infants, youths, and adults and other bicycle accessories, including child bicycle seats, car bicycle carriers, and water-bottle cages. In the United States, a number of jurisdictions have passed mandatory helmet regulations and
REDTOP Sports is currently a market leader in this growing market. Sales are made primarily on credit to independent bicycle dealers and sporting goods stores. The sales terms require that balances be paid within sixty days. This practice is consistent with the industry.
Company Objectives and Related Risks
For this company, there is a specific risk associated with potential errors in the valuation of receivables, the existence of receivables, and the cutoff of sales. This risk results from REDTOP Sports’ interest in expanding to a global market. Helmet sales in Europe are expected to increase significantly in the near future and REDTOP would like to be in a position to obtain a significant market share in Europe. REDTOP Sports would like to finance this growth through an additional stock offering during the next year. To assure that the stock offering is successful, some pressure has been exerted on management to meet slightly optimistic growth levels over the past two years. Bonuses for top management have been partially based on the achievement of these growth goals.
Summary Financial Information
Sales of REDTOP Sports continue to grow. Over the last five years, sales have climbed at an average annual rate of 27%. When compared to other firms in this industry, the growth in earnings per sha ...
The American Society for Quality ■ www.asq.org Page 1 of 4.docxmehek4
The American Society for Quality ■ www.asq.org Page 1 of 4
Making the Case for Quality
By Susanne Donovan
• CRC Industries uses cost of
quality as a key measure
for improving business
results.
• Since centering
improvement efforts on cost
of quality, the company
has reduced failure dollars
as a percentage of sales
and saved hundreds of
thousands of dollars.
• Cost of quality can also be
linked to other
improvements at CRC
Industries, including
shipping error reductions,
customer service order
entry error reductions,
productivity increases,
hazardous waste
reduction, and profitability.
At a Glance...
In 1997 CRC Industries first started tracking cost of quality. Since then we have come to consider it a
key measure for improving business results and the foundation of our continuous improvement efforts.
As Figure 1 shows, we have reduced failure dollars—the money we spend because of products and
services that do not meet our customers’ requirements—from 0.70% of sales to 0.21% of sales, saving
hundreds of thousands of dollars.
Of course everyone knows “if you measure it, it will improve,” but there was more to our endeavor than
just simply measuring the results. We crafted a straightforward, but not effortless, process for putting the
cost of quality measurement to work for us as a driver of product improvement and, consequently, the
company’s bottom line.
About CRC Industries
Headquartered in Warminster, Pennsylvania, CRC Industries produces specialty chemicals for maintenance
and repair professionals, serving automotive, marine, electrical, industrial, and aviation markets. We have
been ISO 9001 certified since November 19, 1996, and in April 2003 independent auditors from Intertek
Testing Services confirmed that we successfully upgraded our quality system from ISO 9001:1994 to ISO
9001:2000.
CRC adheres to strict guidelines in all facets of research, development, and production. We believe our
leadership in the maintenance chemical markets is reflected most positively in our product development,
and we have committed to a quality policy to meet or exceed customer requirements while complying with
statutory and regulatory requirements and ensuring cost-effective operations.
The cost of quality metric therefore seemed like a natural fit for our existing quality policy, but we could
not have predicted the full extent of the impact it would have.
Figure 1 Failure dollars as a % of sales
Using Cost of Quality to
Improve Business Results
1997 1998 1999 2000 2001 2002 2003 2004 2005
0.80
0.70
0.60
0.50
0.40
0.30
0.20
0.10
0.0
0.70
0.62
0.56
0.38
0.33 0.33
0.22
0.19
0.21
Why Cost of Quality?
Often misinterpreted to mean the cost of using quality methods,
cost of quality actually refers to the expense of failing to provide
a quality product or service. At CRC, we use the term “failure
dolla ...
Vskills certification for Payroll Professional assesses the candidate as per the company’s need for developing and managing payroll system for organizations. The certification tests the candidates on various areas in determining rates of pay, compensation management, job analysis, reward management, international compensation strategy, competency and knowledge-based pay, The Gratuity and Bonus Act.
Acting Like a Top 25 Salesforce ISV: Designing the Seller's Journey for the ...CodeScience
Designing a buyer’s trial experience that converts to sales requires tight coordination between your Marketing, Sales, and Support teams. Top 25 ISVs focus on their seller’s journey within the trial experience to increase conversion results.
In our latest webinar of the Acting Like a Top 25 Salesforce ISV series, CodeScience CRO, Sean Hogan, is joined by Craig Rosenberg, Co-Founder and Chief Analyst at TOPO, to discuss how to design a rock-solid seller’s journey.
5 Steps to Getting Organizational Buy-In for Your Enterprise Software ProjectJeff Carr
When looking for a new enterprise software system, your organization must begin your journey by making a business case for enterprise software. This involves numerous steps, including determining an expected return on investment, anticipating total costs, and fully documenting the business case for investing in a new or upgraded system.
Find out how manufacturing and distribution companies can drive an effective justification process with this presentation deck.
Explore five critical areas needed to justify one of the most complex and resource-intensive initiatives your company will face:
- Assess your internal environment
- Fully document your current state
- Clearly map your future state
- Get a handle on total costs of upgrade or new enterprise system
- Accurately calculate ROI
Audit Judgment Please respond to the followingFrom the case st.docxaman341480
"Audit Judgment" Please respond to the following:
From the case study, evaluate the quality of REDTOP’s internal audit function. Based on your evaluation, recommend at least two (2) changes that you would make in order to improve the quality of REDTOP’s internal audit function. Provide a rationale to support your response.
From the case study, give your opinion as to whether or not your external audit engagement team could use REDTOP’s internal audit function in another fashion, as opposed to merely relying on existing internal audits in order to perform the overall audit of REDTOP Sports Company. Recommend one (1) alternative to using the work that the internal audit has already yielded as part of your external audit. Provide a rationale to support your response.
Case Study
TLD CPAs is performing the audit of REDTOP Sports. You are on the external audit team for that engagement. Following is some information about the client and its internal audit function. After reviewing this information, you will be asked to assess the quality of the internal audit function and whether the external auditor should rely on work performed by the internal auditors.
General Background Information about REDTOP Sports
REDTOP Sports Company is a publicly held manufacturing company. The primary activities of REDTOP Sports Company include the design and manufacture of sporting and athletic goods. The major product lines are bicycle helmets for infants, youths, and adults and other bicycle accessories, including child bicycle seats, car bicycle carriers, and water-bottle cages. In the United States, a number of jurisdictions have passed mandatory helmet regulations and
REDTOP Sports is currently a market leader in this growing market. Sales are made primarily on credit to independent bicycle dealers and sporting goods stores. The sales terms require that balances be paid within sixty days. This practice is consistent with the industry.
Company Objectives and Related Risks
For this company, there is a specific risk associated with potential errors in the valuation of receivables, the existence of receivables, and the cutoff of sales. This risk results from REDTOP Sports’ interest in expanding to a global market. Helmet sales in Europe are expected to increase significantly in the near future and REDTOP would like to be in a position to obtain a significant market share in Europe. REDTOP Sports would like to finance this growth through an additional stock offering during the next year. To assure that the stock offering is successful, some pressure has been exerted on management to meet slightly optimistic growth levels over the past two years. Bonuses for top management have been partially based on the achievement of these growth goals.
Summary Financial Information
Sales of REDTOP Sports continue to grow. Over the last five years, sales have climbed at an average annual rate of 27%. When compared to other firms in this industry, the growth in earnings per sha ...
The American Society for Quality ■ www.asq.org Page 1 of 4.docxmehek4
The American Society for Quality ■ www.asq.org Page 1 of 4
Making the Case for Quality
By Susanne Donovan
• CRC Industries uses cost of
quality as a key measure
for improving business
results.
• Since centering
improvement efforts on cost
of quality, the company
has reduced failure dollars
as a percentage of sales
and saved hundreds of
thousands of dollars.
• Cost of quality can also be
linked to other
improvements at CRC
Industries, including
shipping error reductions,
customer service order
entry error reductions,
productivity increases,
hazardous waste
reduction, and profitability.
At a Glance...
In 1997 CRC Industries first started tracking cost of quality. Since then we have come to consider it a
key measure for improving business results and the foundation of our continuous improvement efforts.
As Figure 1 shows, we have reduced failure dollars—the money we spend because of products and
services that do not meet our customers’ requirements—from 0.70% of sales to 0.21% of sales, saving
hundreds of thousands of dollars.
Of course everyone knows “if you measure it, it will improve,” but there was more to our endeavor than
just simply measuring the results. We crafted a straightforward, but not effortless, process for putting the
cost of quality measurement to work for us as a driver of product improvement and, consequently, the
company’s bottom line.
About CRC Industries
Headquartered in Warminster, Pennsylvania, CRC Industries produces specialty chemicals for maintenance
and repair professionals, serving automotive, marine, electrical, industrial, and aviation markets. We have
been ISO 9001 certified since November 19, 1996, and in April 2003 independent auditors from Intertek
Testing Services confirmed that we successfully upgraded our quality system from ISO 9001:1994 to ISO
9001:2000.
CRC adheres to strict guidelines in all facets of research, development, and production. We believe our
leadership in the maintenance chemical markets is reflected most positively in our product development,
and we have committed to a quality policy to meet or exceed customer requirements while complying with
statutory and regulatory requirements and ensuring cost-effective operations.
The cost of quality metric therefore seemed like a natural fit for our existing quality policy, but we could
not have predicted the full extent of the impact it would have.
Figure 1 Failure dollars as a % of sales
Using Cost of Quality to
Improve Business Results
1997 1998 1999 2000 2001 2002 2003 2004 2005
0.80
0.70
0.60
0.50
0.40
0.30
0.20
0.10
0.0
0.70
0.62
0.56
0.38
0.33 0.33
0.22
0.19
0.21
Why Cost of Quality?
Often misinterpreted to mean the cost of using quality methods,
cost of quality actually refers to the expense of failing to provide
a quality product or service. At CRC, we use the term “failure
dolla ...
Have you ever wondered how search works while visiting an e-commerce site, internal website, or searching through other types of online resources? Look no further than this informative session on the ways that taxonomies help end-users navigate the internet! Hear from taxonomists and other information professionals who have first-hand experience creating and working with taxonomies that aid in navigation, search, and discovery across a range of disciplines.
Sharpen existing tools or get a new toolbox? Contemporary cluster initiatives...Orkestra
UIIN Conference, Madrid, 27-29 May 2024
James Wilson, Orkestra and Deusto Business School
Emily Wise, Lund University
Madeline Smith, The Glasgow School of Art
0x01 - Newton's Third Law: Static vs. Dynamic AbusersOWASP Beja
f you offer a service on the web, odds are that someone will abuse it. Be it an API, a SaaS, a PaaS, or even a static website, someone somewhere will try to figure out a way to use it to their own needs. In this talk we'll compare measures that are effective against static attackers and how to battle a dynamic attacker who adapts to your counter-measures.
About the Speaker
===============
Diogo Sousa, Engineering Manager @ Canonical
An opinionated individual with an interest in cryptography and its intersection with secure software development.
This presentation, created by Syed Faiz ul Hassan, explores the profound influence of media on public perception and behavior. It delves into the evolution of media from oral traditions to modern digital and social media platforms. Key topics include the role of media in information propagation, socialization, crisis awareness, globalization, and education. The presentation also examines media influence through agenda setting, propaganda, and manipulative techniques used by advertisers and marketers. Furthermore, it highlights the impact of surveillance enabled by media technologies on personal behavior and preferences. Through this comprehensive overview, the presentation aims to shed light on how media shapes collective consciousness and public opinion.
Acorn Recovery: Restore IT infra within minutesIP ServerOne
Introducing Acorn Recovery as a Service, a simple, fast, and secure managed disaster recovery (DRaaS) by IP ServerOne. A DR solution that helps restore your IT infra within minutes.
This presentation by Morris Kleiner (University of Minnesota), was made during the discussion “Competition and Regulation in Professions and Occupations” held at the Working Party No. 2 on Competition and Regulation on 10 June 2024. More papers and presentations on the topic can be found out at oe.cd/crps.
This presentation was uploaded with the author’s consent.
Competition and Regulation in Professional Services – KLEINER – June 2024 OEC...
GEB Final Presentation with Sound
1. Improving the Process of Approval of Large Transaction DealsImproving the Process of Approval of Large Transaction Deals
in the Offshore Department of XYZ Mutual Funds Investmentin the Offshore Department of XYZ Mutual Funds Investment
CompanyCompany
Prepared for XYZ Mutual FundsPrepared for XYZ Mutual Funds
Investment CompanyInvestment Company
July 8, 2014July 8, 2014
Prepared by: Alfredo Garcia
2. Executive SummaryExecutive Summary
Offshore Procedures to process Large deal transactionsOffshore Procedures to process Large deal transactions
updateupdate
Issues with current workflowIssues with current workflow
Takes 50% longer than the Domestic DepartmentTakes 50% longer than the Domestic Department
Good Order Review is handled fully by department directorGood Order Review is handled fully by department director
Customer satisfaction with process is 3.5 points out of 5Customer satisfaction with process is 3.5 points out of 5
3. Benefits and Risks of NewBenefits and Risks of New
ProcedureProcedure
BenefitsBenefits
• Reduces the time by 50%Reduces the time by 50%
• Reduces AML riskReduces AML risk
• Reduces Trade Control riskReduces Trade Control risk
• Increase customerIncrease customer
satisfactionsatisfaction
Risks
• Mid-level management pressure
• Risk oversight issues to meet
time expectancy
• Less managers in the Offshore
Department for review
4. RecommendationRecommendation
Update the Offshore Procedure to mirror the procedures inUpdate the Offshore Procedure to mirror the procedures in
place in the Domestic Departmentplace in the Domestic Department
Process of adaptation of new proceduresProcess of adaptation of new procedures
Perform Blind test scenariosPerform Blind test scenarios
Procedure goes live for 3 months and then survey (internalProcedure goes live for 3 months and then survey (internal
and external)and external)
Training for managers and directors (Trainers are membersTraining for managers and directors (Trainers are members
of the Domestic Department management staff.)of the Domestic Department management staff.)
5. IntroductionIntroduction
This report will show the following:This report will show the following:
Process of the Domestic DepartmentProcess of the Domestic Department
Survey results for the process from both departmentsSurvey results for the process from both departments
Benefits of adapting the Domestic ProcedureBenefits of adapting the Domestic Procedure
Adaptation process and scheduleAdaptation process and schedule
6. Domestic Side ProcessDomestic Side Process
Use of two managers doing the good order reviewUse of two managers doing the good order review
Steps: 1) Sell order receivedSteps: 1) Sell order received
2) Manager A reviews AML, Manager B reviews2) Manager A reviews AML, Manager B reviews
Trade ControlTrade Control
3) If approved by managers, sent to Director for3) If approved by managers, sent to Director for
final approvalfinal approval
4) Transaction Submitted4) Transaction Submitted
7. Offshore ProcessOffshore Process
Steps:Steps:
1) Sell order received1) Sell order received
2) Director performs good order review (AML and2) Director performs good order review (AML and
Trade Control)Trade Control)
3) Director makes final decision3) Director makes final decision
4) Sent to trade desk4) Sent to trade desk
9. Benefits and Risks of New ProcedureBenefits and Risks of New Procedure
BenefitsBenefits
Lessens the amount of time for processLessens the amount of time for process
Domestic Department (longest time)Domestic Department (longest time)
Offshore Department (Fastest time)
10. Benefits and Risks of New ProcedureBenefits and Risks of New Procedure
BenefitsBenefits
Minimize Risk of AML and Trade Control violationsMinimize Risk of AML and Trade Control violations
Two extra managers verify the tradeTwo extra managers verify the trade
Increase approval rating from customersIncrease approval rating from customers
Domestic satisfaction rate is 45% higher for the sameDomestic satisfaction rate is 45% higher for the same
Transaction type due mainly from procedureTransaction type due mainly from procedure
11. Benefits and Risks of New ProcedureBenefits and Risks of New Procedure
RisksRisks
Managers pressure from decision makingManagers pressure from decision making
Risk oversight trying to meet lower time expectancyRisk oversight trying to meet lower time expectancy
Fewer managers in Offshore DepartmentFewer managers in Offshore Department
12. RecommendationsRecommendations
To adapt the process used in the Domestic DepartmentTo adapt the process used in the Domestic Department
Steps to follow for successful adaption include:Steps to follow for successful adaption include:
1) Training1) Training
2) Testing2) Testing
3) Support Team3) Support Team
4) Review of Process4) Review of Process
14. Steps for adaptationSteps for adaptation
Testing Mock-Blind Scenarios. Total 200 transactionsTesting Mock-Blind Scenarios. Total 200 transactions
Data collected: Correct, Incorrect, Reasons for Not In GoodData collected: Correct, Incorrect, Reasons for Not In Good
OrderOrder
Support Team available: Help line and email pointSupport Team available: Help line and email point
Review of Process: After 180 days conduct a survey ofReview of Process: After 180 days conduct a survey of
satisfaction anonymously internally and external clientsatisfaction anonymously internally and external client
surveysurvey
15. Internal SurveyInternal Survey
Rate chart: From 1 to 5 (1 being the worst)Rate chart: From 1 to 5 (1 being the worst)
How comfortable do you feel with the new procedure?How comfortable do you feel with the new procedure?
Rate your level of confidence with AML?Rate your level of confidence with AML?
Rate your level of confidence with Trade Control?Rate your level of confidence with Trade Control?
Rate your level of comfort with the Support Team?Rate your level of comfort with the Support Team?
Additional Comments:Additional Comments:
16. Client SurveyClient Survey
Rate chart: From 1 to 5 (1 being the worst)Rate chart: From 1 to 5 (1 being the worst)
Rate your experience of your latest transaction.Rate your experience of your latest transaction.
Rate your experience of your prior transactionRate your experience of your prior transaction
If you rate Question 1 higher than Question 2, please addIf you rate Question 1 higher than Question 2, please add
comments below on reason/scomments below on reason/s
17. Mission of ChangeMission of Change
Client SatisfactionClient Satisfaction
KnowledgeKnowledge
Good order reviewGood order review
ComplianceCompliance
18. ReferencesReferences
Inman, P. (2012)Inman, P. (2012) The GuardianThe Guardian Brazil's economy overtakes UK to becomeBrazil's economy overtakes UK to become
world's sixth largest. Retrieved on July 1, 2014 fromworld's sixth largest. Retrieved on July 1, 2014 from
http://www.theguardian.com/business/2012/mar/06/brazil-economy-http://www.theguardian.com/business/2012/mar/06/brazil-economy-
worlds-sixth-largestworlds-sixth-largest
Morningstar (2014) U.S. Mutual Fund Investment Stewardship SurveyMorningstar (2014) U.S. Mutual Fund Investment Stewardship Survey
Retrieved on June 30, 2014Retrieved on June 30, 2014
http://corporate.morningstar.com/us/documents/MutualFunds/WP_Eqhttp://corporate.morningstar.com/us/documents/MutualFunds/WP_Eq
uity_Stewardship_031914_FINAL.pdfuity_Stewardship_031914_FINAL.pdf
19. AppendixAppendix
Name: Jane DoeName: Jane Doe
Business: XYZ Mutual Fund Investment CompanyBusiness: XYZ Mutual Fund Investment Company
Location: Short Hill, New JerseyLocation: Short Hill, New Jersey
URL:URL: Mutualfunds@XYZ.comMutualfunds@XYZ.com
Email:Email: JaneDoe@XYZ.comJaneDoe@XYZ.com
Name: John SmithName: John Smith
Business: XYZ Mutual Fund Investments CompanyBusiness: XYZ Mutual Fund Investments Company
Location: San Francisco, CaliforniaLocation: San Francisco, California
URL:URL: Mutualfunds@XYZ.comMutualfunds@XYZ.com
Email:Email: John.Smith@XYZ.comJohn.Smith@XYZ.com
