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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.
M/s ABC is seeing relaxing its collection efforts. At current its sales are as Rs.40 lakhs, the ACP is here 20 days and variable cost to sales ratio is .8 and bad debts are as .05
find full-cost& variable cost using transfer pricing method
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Representation of Simplex method We shall use the example previously stated for the graphical solution. The standard form of the model is given by: Maximize : Z = 3X E + 2
Stock-out costs These are the opportunity costs of running out of stock. They comprise: 1) The costs of lost customer sales, and therefore lost contribution to fixed costs.
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