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Just-in Time (JIT) Inventory management
JIT is a system whose purpose is to generate or to purchase products or components as they are required by customers or for use rather than for stock.
A JIT system is a pull system which responds to demand as opposed to a push system in which stocks acts as buyers between the different element of the system like purchasing, manufacture and sales.JIT production
Is a production system, that is driven by demand for the finished products whereby each component on the production line is produced only when needed for the next stage.
Illustration of Standard error of estimate The production manager of XYZ Company is concerned about the apparent fluctuation in efficiency and wants to determine how labour cos
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analyse the methods of capital investment appraisal
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differentiate between multiple product, selling product and margin managent
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Introduction of zero base budgeting Steps involved in the introduction of zero base budgeting 1) Corporate objectives should be established and laid down in detail 2) Dec
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