Executive Management Presentation
Group C
QRB- 501
April 4, 2013
Dr. Robert Grauer
.
Executive Management
For the Executive Management presentation Learning Team C used University of Phoenix’s Summer Historical Data. The data presented was over the course of four years; further, the data presented allowed for the team to acquire information for standard deviation, mode, median, as well as the mean information to be presented. From this data the team was able to find inventory issues and assign the appropriate inventory system to the company to minimize mismanagement. The inventory issue over the course of the year was the inventory not turning at the appropriate pace. There were months at which, the inventory was moving at an extremely slow pace (September through March) whilst there was a spike in October. The inventory system used is First In First Out also known as FIFO and a perpetual system called radio frequency identification (RFID) is used to manage the FIFO system. According to chron.com the radio frequency system works in conjunction with the Point of sale system to perpetually remove the item from the inventory account. This ensures accuracy of the inventory at all times, thus keeping mismanagement nonexistent.
Raw Data
Index
Year 1 Year 2 Year 3 Year 4
1 18000 45100 59800 35500
2 19800 46530 30740 51250
3 15700 22100 47800 34400
4 53600 41350 73890 68000
5 83200 46000 60200 68100
6 72900 41800 55200 61100
7 55200 39800 32180 62300
8 57350 64100 38600 66500
9 15400 47600 25020 31400
10 27700 43050 51300 36500
11 21400 39300 31790 16800
12 17100 10300 31100 18900
Average 457350 487030 537620 550750
To get the mode, median, mean, and standard deviation the group used the monthly averages.
Month Average
1 39600
2 37080
3 30000
4 59210
5 64375
6 57750
7 47370
8 56637.5
9 29855
10 39637.5
11 27322.5
12 19350
To calculate...