Question

Many companies have significantly lowered inventory levels and costs by a) using enterprise resource planning. b)...

Many companies have significantly lowered inventory levels and costs by

a) using enterprise resource planning.

b) total quality management.

c)just-in-time inventory methods.

d) activity-based costing.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Many companies have significantly lowered inventory level and cost by using Just-in-time inventory method

What is Just in time inventory method?

  • It is a system of managing inventory that is designed to improve efficiency and reduce waste in production process.
  • Under this method manufacturer buys invetory only when he received the order from customer.
  • It reduses cost by minimizing the wharehouse needs because of the reason which i have written just above it.
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
n a recent study of enterprise resource planning? (ERP) system? effectiveness, researchers asked companies how they...
n a recent study of enterprise resource planning? (ERP) system? effectiveness, researchers asked companies how they assessed the success of their ERP systems. Out of 390 manufacturing companies? surveyed, they found that 179 used return on investment? (ROI),160 used reductions in inventory? levels,36 used improved data? quality, and 15 used? on-time delivery. In a survey of 640 service? firms,290 used? ROI,270 used inventory? levels,50used improved data? quality, and 30 used? on-time delivery. Is there evidence that the measures used to...
12)A mid-sized company has decided to implement an enterprise resource planning (ERP) system, and management suspects...
12)A mid-sized company has decided to implement an enterprise resource planning (ERP) system, and management suspects that many of its employees are concerned about the planned implementation. Managers are considering holding informational workshops to help decrease anxiety levels among employees. To determine whether such an approach would be effective, they randomly select 16 employees to participate in a pilot workshop.  These employees were given a questionnaire to measure anxiety levels about ERP before and after participating in the workshop. To determine...
Unit 10 Discussion Discussion Topic Many discussion opportunities come up where you need to respond to...
Unit 10 Discussion Discussion Topic Many discussion opportunities come up where you need to respond to other people’s opinions and comments. Respond to your Discussion topic after you have completed your Reading. Inventory Management With effective resource planning, organizations can reduce inventory and service costs, improve efficiencies, and establish methods for continuous improvement. Depending upon the type of resource, there is a different type of planning that must take place. This can include material requirements planning (MRP), capacity requirements planning...
Farrow Corporation manufactures two products: A and B. The total indirect manufacturing overhead resource costs of...
Farrow Corporation manufactures two products: A and B. The total indirect manufacturing overhead resource costs of $100,350 have been assigned to four activity cost pools that use the following cost drivers: Product Number of Setups Machine Runs Packing Hours Orders Product A 20 35 1,000 75 Product B 10 70 1,500 125 Cost per Pool $8,100 $5,100 $65,000 $22,000 Required: a.   Compute the unit activity costs for each of the cost drivers listed. b.   Assign the overhead costs to products...
German Company, PAS software is developing an ERP (Enterprise Resource Planning) system for sale to mid-size...
German Company, PAS software is developing an ERP (Enterprise Resource Planning) system for sale to mid-size companies around the world. Software development started during 2018, during which time $45 million was incurred. During 2019, and additional $60 million was incurred, with $10 million of this incurred after technological feasibility of the new software had been established. Record the journal entry for the 2019 software development costs. Refer back to question above. Assume this product was released to customers in early...
Which of the following statements are true regarding Activity-Based Costing? Select one: A. Non-manufacturing costs are...
Which of the following statements are true regarding Activity-Based Costing? Select one: A. Non-manufacturing costs are not important to include when calculating the cost of each product. B. Costs are allocated based on a pre-determined overhead rate for each cost pool. C. Transitioning from traditional costing methods to Activity-Based Costing is a relatively simple process that most companies complete quickly. D. Activity-Based Costing results in a different amount of total overhead applied than under traditional costing methods. E. None of...
1) An increase in inventory will result in _____ net operating income when using absorption costing...
1) An increase in inventory will result in _____ net operating income when using absorption costing as opposed to variable costing. A. higher B. equal C. lower 2) A manufacturing company uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs: Costs: Wages and salaries $400,000 Depreciation           40,000 Occupancy            120,000 Total $560,000 The distribution of resource consumption across the three activity cost pools is given below: Activity Cost Pools Order...
Which of the following statements about activity-based costing is correct? A. Activity-based costing and activity-based management...
Which of the following statements about activity-based costing is correct? A. Activity-based costing and activity-based management techniques are not limited to manufacturing companies. Service providers may benefit from implementing activity-based management, but the cost and time of activity-based costing far exceeds the benefits. B. Activity-based .costing and activity-based management techniques are limited to manufacturing companies. Service providers, non-profit organizations, retailers, and governments cannot benefit from implementing some form of activity-based costing and activity-based management because they are prohibitively expensive. C....
12. Which of the following is an example of a non-value added activity?     a. Storing...
12. Which of the following is an example of a non-value added activity?     a. Storing excess inventory for future sales     b. Making products     c. Making customer contacts     d. Providing after sale service 13. Which of the following statements is false?     a. Some firms have tried Activity-Based-Costing and found that their costs exceeded their benefits     b. Activity-Based-Costing focuses on current processes while Activity-Based-Management is concerned with improved processes     c. Activity-Based-Costing and Activity-Based-Management are simple...
Which of the following is not a method to mitigate the incentive to overproduce in an...
Which of the following is not a method to mitigate the incentive to overproduce in an absorption costing system? A. Charge managers inventory holding costs B. Evaluate managers on residual income C. Require senior management approval for all inventory purchases D. Institute a Just-in-time (JIT) production system Which of the following statements about variable costing systems is true? A. Variable overhead costs are treated as period costs B. Fixed overhead costs are treated as product costs C. Only direct materials...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT