Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Learning and Spillovers
The cost of a value activity can decline over time due to learning that increases its efficiency. The methods by which learning can lower cost over time are many, and comprise such factors as layout changes, enhanced scheduling, labor efficiency enhancement, product design modifications that facilitate manufacturing, yield improvements, procedures that increase the utilization of assets, and better tailoring of raw materials to the process. Learning can also decrease the cost of retail outlets, constructing plants, or other facilities. Therefore the possibilities for learning in an activity are wider than learning by personnel to execute their functions more proficiently. The rate of learning varies broadly among value activities since each offers varying possibilities for learning enhancements. Learning is often the cumulation of many small improvements rather than major breakthroughs. The rate of learning might rise during slack periods whenever attention is focused on decreasing costs instead of meeting demand. Furthermore, learning tends to differ with the quantity of management attention dedicated to capturing it.
Learning can spill over from one firm in an industry to another, via mechanisms like consultants, suppliers, ex-employees, and reverse engineering of products. Where spillover of learning among firms is high in a value activity, the rate of learning might stem more from net industry learning than from the learning of one firm.
Cost comprise impact Some of the policy choices which tend to have the maximum impact on cost comprise: Product performance, configuration, and characteristics Mix and
Management Accounting An accounting discipline concerned with the use of financial information. It used to relevant information by managers and other decision makers inside a s
Selective Inventory Management The inventory of an industrial firm generally comprises thousands of items with diverse prices, usage and lead time, as well as procurement and/o
What is Fixed budget The fixed budget is prepared for a given level of activity the budget is prepared before the beginning of the financial year. If the financial year starts
Saddle Point The saddle point in a payoff matrix is one which is the smallest value in its row and the largest value in its column. It is also termed as equilibrium point in th
distinguish between cost unit and cost centre
Feed-forward control system Feed-forward control system describes a system in which deviations in the system are anticipated in a forecast of future results, so that corrective
INVENTORY PLANNING AND CONTROL The main goal of "inventory control" is to discover and maintain the optimum level of investment in all types of inventories, from raw materials
what is Long term budgets Long term budgets: The budgets are prepared to depict long term planning of the business. The period of long term begets various between five to ten
THEORY OF METAGAMES This theory appears to describe how most people play non-zero sum games involving any number of persons. Prisoner's dilemma is an example of this; the ai
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd