Just-In-Time Manufacturing Just-In-Time manufacturing‚ commonly referred to as JIT‚ is a company wide philosophy aimed at eliminating a company ’s waste. Waste can be found in many forms. For example it can be defined in the material form such as plastic or metal scrap‚ or it can be defined in the administrative form as excessive overhead that slows production or adds an unnecessary expense. The basic theory behind JIT is a pull system that is driven by a demand of supplies. This results in
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whether service‚ manufacturing or trading‚ require cost accounting to track their activities.[1] Cost accounting has long been used to help managers understand the costs of running a business. Modern cost accounting originated during the industrial revolution‚ when the complexities of running a large scale business led to the development of systems for recording and tracking costs to help business owners and managers make decisions. In the early industrial age‚ most of the costs incurred by a business
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motion‚ inventory‚ poor cost of quality‚ etc.) An organization that stimulates productivity and quality An organization using value-added processes Low Quality = High Waste High Quality = Low Waste and Higher Value There are several ways to be Lean— TQM Six Sigma SMED (Single Minute Exchange of Die) PM/TPM (Preventive Maintenance/Total Preventive Maintenance) JIT (Just In Time) Continuous Improvement/Kaizen And Many More… CELLULAR MANUFACTURING: MANUFACTURING A Lean Manufacturing Concept Cellular
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Agency Costs of Free Cash Flow‚ Corporate Finance‚ and Takeovers Michael C. Jensen Harvard Business School MJensen@hbs.edu Abstract The interests and incentives of managers and shareholders conflict over such issues as the optimal size of the firm and the payment of cash to shareholders. These conflicts are especially severe in firms with large free cash flows—more cash than profitable investment opportunities. The theory developed here explains 1) the benefits of debt in reducing agency
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This financial analysis will define an initiative of what to implement‚ that would increase sales over the next five years. It can either be‚ another market‚ product‚ or a corporate expansion. A pro forma will be created and used for the XYZ Manufacturing Company of a five year projections. Assumptions will be made to support each line item‚ to increase or decrease the forecasted statements. There will also be interpretation of the financials‚ in relation to the initiative. Recommendations
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Costs and Revenues What is cost? If you go to a store and like an item and you want to buy it‚ which of the following questions would you ask: What’s the price of …..? 0R How much does …. cost? Examples of costs – set-up Examples of costs - running Fixed Costs 5000 What happened to the fixed costs if for some reason the company had technical problems and was unable to produce for 2 weeks? What happens if the landlord decided to raise the rent due to high property prices
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Objectives: The experiment was done to establish the work of a lathe machine on a cylindrical work piece provided and convert the shape of the work piece into the desired shape by using lathe operations. Theory: The lathe is a machine tool which holds the workpiece between two rigid and strong supports called centers or in a chuck or face plate which revolves. The cutting tool is rigidly held and supported in a tool post which is fed against the revolving work. The normal cutting operations
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Printed Ckt Board Types of PCB (I) Single Side (II) Double Side (III) Multi Layer (V) Flexible PCB * Single Side ( 1 layer ) :- The insulating substrate contains ckt pattern on only one side. Which is called as solder side. The other side is called component side. * Double Side (2 layer) :- Double side means the ckt pattern is present on the either side of the insulating material ckt pattern both on component side & solder side. * Flexible Cards :- Flexible
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MANUFACTURING RESOURCES PLANNING References: http://www.enotes.com/manufacturing-resources-planning-reference/manufacturing-resources-planning Manufacturing resource planning‚ also known as MRP II‚ is a method for the effective planning of a manufacturer’s resources. MRP II is composed of several linked functions‚ such as business planning‚ sales and operations planning‚ capacity requirements planning‚ and all related support systems. The output from these MRP II functions can be integrated
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Cost Accounting Fundamentals Introduction to Cost Accounting Cost accounting is an internal reporting system for an organisation’s own management for decision making. It is the process of accounting for costs. It includes the accounting procedures relating to recording of all incomes and expenditures and the preparation of periodical statements and reports with the object of ascertaining and controlling costs. It is thus the formal mechanism by means of which cost of products or services are
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