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Lean manufacturing adopts the just-in-time approach and additionally focuses on reducing cycle, flow, and throughput times by further eliminating activities that do not add any value for the customer. [1] Lean manufacturing also involves people who work outside of the manufacturing process, such as in marketing and customer service.
Moulding. Powder metallurgy. Compaction plus sintering. Hot isostatic pressing. Metal injection moulding. Spray forming. Plastics (see also Rapid prototyping) Injection. Compression molding.
Process costing. Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. Costs are assigned to products, usually in a large batch, which might include an entire month's production. Eventually, costs have to be allocated to individual units of product.
Job costing (known by some as job order costing) is fundamental to managerial accounting. It differs from Process costing in that the flow of costs is tracked by job or batch instead of by process. job cost is done for one single product The distinction between job costing and process costing hinges on the nature of the product and, therefore, on the type of production process:
Current good manufacturing practices (cGMP) are those conforming to the guidelines recommended by relevant agencies. Those agencies control the authorization and licensing of the manufacture and sale of food and beverages, [ 1 ] cosmetics, [ 2 ] pharmaceutical products, [ 3 ] dietary supplements, [ 4 ] and medical devices. [ 5 ]
e. Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, allocating, aggregating and reporting such costs and comparing them ...
Misconduct. v. t. e. Activity-based costing (ABC) is a costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each. Therefore, this model assigns more indirect costs (overhead) into direct costs compared to conventional costing.
Industrial and production engineering (IPE) is an interdisciplinary engineering discipline that includes manufacturing technology, engineering sciences, management science, and optimization of complex processes, systems, or organizations. It is concerned with the understanding and application of engineering procedures in manufacturing processes ...