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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.
Standard conventions in Game Theory Consider the following table as shown below: X plays row I, Y plays Column I, X wins 3 points X plays row I, Y plays Column II, X los
Painter Ltd, which manufactures and sells a single product, is currently producing and selling 102,000 units per month, which represents 85% of its full capacity. Total monthly cos
analyse the methods of capital investment appraisal
Categories of zero base budgeting The preceding discussion will reveal that zero base budgeting is based primarily on: 1) Development of decision units 2) Identification
Private sector companies have multiple stakeholders who are likely to have divergent interests.( five stakeholder groups and discuss their financial and other objectives).
Analysis of Each Decision Package This analytic procedure permits the manager of the decision package and its alternatives to assess and validate its operation. Numerous quest
CONTIGENCY THEORY Some researchers have argued that the context in which budgetary control is used is as important as the style in which it is implemented and used. This is ter
Testing the Slope The strong point of the relationship among the dependent variable and each of the independent variables can be determined using 3 methods: 1) Correlation
Linear Programming This section introduces the general method called the simplex algorithm, which is designed to solve any linear program. The information that can be secured
STANDARD COSTING AND BUDGETARY CONTROL In practice, the terms standard cost and budgeted cost might be used interchangeably. Whereas it is possible to have budgeting without s
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