BUS 5110 Unit 8 portfolio PDF

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My strength through education and experience is Supply Chain. My current career path is project and program management. My career goal is to continue working within program and product management, focusing on Supply Chain development for new products. The units with the most benefit to me going forward are: 1. 2. 3. 4.

Differential analysis (Unit 4) Capital budgeting and Project Analysis tools: NPV, IRR, payback method, ARR (Unit 6) Cost volume profit (CVP) models - (Unit 3) Master Budget (Unit 5)

Differential analysis, is used by management to make decisions for make-buy of products or components, adding, keeping, or buying a product or product lines, keeping or dropping customers and special customer orders[CITATION Hei12 \p 489 \l 1033 ]. Differential analysis is something I have used before in make-buy analysis. Working in supply chain, we are frequently asked to evaluate comparing sourcing a product from numerous suppliers, including making internally from one of our own global manufacturers. The course material we reviewed gives me a much deeper understanding of how to break the costs down in to the relevant differential costs that differ between the various alternatives, including each of the variable and fixed production costs to find the total production cost. As my career continues, I see using these tools to do more work on product line decisions. I have a deeper understanding of sunk costs, avoidable costs, and opportunity costs that I will be sure to include in future analyses. Additionally, my understanding of how qualitative costs often go unexposed in a purely quantitative differential analysis has improved and I will be sure to include these in my summary and recommendations going forward. Capital budgeting decisions, looks at how a company’s capital funds are invested in long-term assets[CITATION Hei12 \p 585 \l 1033 ]. Project analysis, specifically is used to understand the value of future cash flows, expressed in today’s dollars. To date, and going forward, this will be very valuable in furthering my career within product management. Tools such as net present value (NPV), internal rate of return (IRR), payback method, and ARR will all be utilized. In my past experiences, capital budgeting and project analysis was usually done by others in product management, but now I have the skills to do this work and comprehend what it means. Additionally, understanding that qualitative factors need to be taken in to account here and need to be brought forward when making a recommendation is now evident. CVP analysis allows management to evaluate their capability to grow their business and make informed decisions about which business prospects to pursue[CITATION Wal18 \p 38 \l 1033 ]. Within project management, CVP models are very important to understanding the products business variability, break-even point, and safety margin. With these studies, I have improved my skills and knowledge in these areas that will prove useful in my career. Additionally, as my career continues, I foresee using these tools to complete more comprehensive CVP analysis for products within the portfolio of products. Lastly, a master budget is a series of budget schedules, starting with the sales budget, leading to the operations, SG&A, and capital expenditures budgets, and ultimately flowing to the budgeted financial statements showing the company’s financial goals for the upcoming period[CITATION Hei12 \p "668, 669" \l 1033 ]. These learned skills to create and control a master budget will be utilize in my future career. I have done budgeting before, for the team I have managed. But to expand these skills sets beyond to a larger scope of an entire company is something I have not been part of to date. The

importance of an accurate sales forecast is much more evident to me know as it drives the entire budget for Production, SG&A, capital expenditures, and ultimately establishing the company’s financial goals. In conclusion, overall, I found all learning units useful in this course, but differential analysis, project analysis tools, CVP analysis, and creating a master budget are the tools I have found the most useful. Word count: 666

References Heisinger, K., & Hoyle, J. B. (2012). Accounting for Managers. (1.0). Creative Commons by-nc-sa 3.0. Retrieved from http://lardbucket.org Walther, L. M., & Skousen, C. J. (2018). Managerial and Cost Accounting. (1st). Retrieved from bookboon.com...