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Major features of JIT(1) Elimination of non-value added activity: JIT manufacturing can be described as a philosophy of management, dedicate to the elimination of waste. Waste is stated as anything which does not add value to a product.(2) Factory Layout: The first stage of implementing the JIT manufacturing techniques is to rearrange the factory floor away from the batch production functional layout towards a production layout using low lines with a functional plant layout production through a No. of special departments that normally contain a group of similar machines.(3) Batch size of one: Set up time is the amount of time needed to adjust tools and to retool for various product. Long set ups a change over time make the production of batches with a small no. of units too expensive.
The least-cost method The process is described as follows: Assign as much as possible to the variable with the least unit cost in the whole tableau. (Ties are broken randomly).
A purchased product, sold in a retail store, has a normally distributed daily demand, with a mean of 8 units/day and a variance of 4 (units) 2 . Its supply lead time is 6 days and
Explain the Methods of pricing The following methods are used for intra company transfer pricing: 1) Total cost method: transfer is made at absorption cost which is the t
Standard costing in modern environment Standard costing has traditionally been associated with labor-intensive operations, but it can be applied to capital-intensive production
Write a response to your boss, the controller. The response should be 2-5 pages in length (double-space). Your response to the controller should include, but not be limited to, t
Identify the ways in which Total Productive Maintenance could be applied as part of a manufacturing organisation''s quality programme
What is Programmer budgeting It is a combination of programming and systems refers to the activity and system analysis refers to cost benefit analysis or operations research. I
do you write a case study regarding this topic?
whats a zero sum game
What is Master budget Financial budget are concerned with cash receipts and disbursements working capital. Several functional budgets are integrated into master budget. This bu
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