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Jct 2 Task 1 Essay

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Below is an essay on "Jct 2 Task 1" from Anti Essays, your source for research papers, essays, and term paper examples.

Running a business in today’s market can be very challenging at times and require a lot of work and careful planning to become a profitable success. Supply chain management is a very important key factor a business needs in order to provide their product to the customer and keep the business profitable. Success will come to the business with careful planning and a good strategy utilizing all of the aspects of the supply chain. Not all businesses will succeed but the one’s that do have found a way to optimize their supply chain management system and keep their goods and services off of the shelves and into the consumer’s hands. A business will not succeed strictly on their supply chain strategy alone but it is a very important factor in every business’s success.
Budgets and Pro-Forma Statements
Utilizing budgets and pro-forma statements are a must when planning the funding of the production capacity of the business to achieve the goals the business wants to accomplish. When I was going through the simulation I found that in order for the business to be successful I had to really rely on using the budgets to keep my business profitable. The business had to manage their budget correctly when planning their production capacity or the business would have grown either too big or remained to small and the business would have not become profitable. I utilized my budget in the simulation to the fullest and kept my production capacity within the means of the set budget of the business. It was hard at times to decide what needed to be done in respect to production capacity but having a set budget and staying within the limits of the budget really helped the business grow to a reasonable size and remain profitable. Using the budget for each quarter I was able to allocate funds into production capacity and keep the business stocked with products for the consumer. Since I kept the business within the projected budget I was able to make a profit and become successful in the...

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