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What are the latest and best methods to account for cost

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TQM, ABC, JIT, 80/20, XYZ and are there any other initials I should know about to get a handle on inventory control and its relationship to profit," your client asks. Your client owns a medium sized manufacturing concern and keeps hearing all these letters. What do all those initials mean, do they have anything to do with inventory control and are there any other inventory control methods worth knowing about? What are the latest and best methods to account for and control manufacturing costs? What do you advise?

Reference no: EM13215841

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