managerial accounting 145
Visit a restaurant and do a lead time study. You may also use a recent appointment (doctor, etc.)
What is the name of the restaurant/type of appointment you visited?
Note the time when you walk in the door of the restaurant and the time when you walk out the door after you have eaten/the appointment. The difference between these two times is the total lead time of your restaurant experience. Next, while in the restaurant, determine the time spent on non-value-added time, such as wait time, and the time spent on value-added activities. Note the various activities (you should provide me at least four different activities) and the time required to perform each activity during your visit to the restaurant. Then, determine the total value-added ratio.
Finally, interpret your analyses, identifying possible improvements to the non-value added activities.
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