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Material requirements planning (MRP) was an early iteration of the integrated information systems vision. MRP information systems helped managers determine the quantity and timing of raw materials purchases. Information systems that would assist managers with other parts of the manufacturing process, MRPII, followed.
It is also applicable to non-mission critical systems that lack redundancy and fault reporting. Condition-based maintenance was introduced to try to maintain the correct equipment at the right time. CBM is based on using real-time data to prioritize and optimize maintenance resources. Observing the state of the system is known as condition ...
Resources, events, agents (REA) is a model of how an accounting system can be re-engineered for the computer age.REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, [1] and contained the concepts of resources, events and agents (McCarthy 1982).
The SDR is a technical review conducted to evaluate the manner in which a project's system requirements have been allocated to configuration items, manufacturing considerations, next phase planning, production plans, and the engineering process that produced the allocation. This review is conducted when the system definition is at a point where ...
Additionally, the system design also assumes that this "lead time" in manufacturing will be the same each time the item is made, without regard to quantity being made, or other items being made simultaneously in the factory, or any "learning curve" reductions in lead time. A manufacturer may have factories in different cities or even countries.
IAS 16 applies to property, plant and equipment (PPE). The standard itself defines PPE as "tangible items that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and are expected to be used during more than one [accounting] period."
Maximo is enterprise asset management software originally developed by Project Software & Development (later MRO Software) with the first commercial version released in 1985. [2] [3] Purchased by IBM in 2006, it was branded as IBM Maximo Asset Management. With the release of version 8 in July 2021 the product was renamed to IBM Maximo Manage. [4]
Material flow accounting can be used in national planning, especially for scarce resources, and also allows for forecasting. The method can be used to assess environmental burdens associated with the economic activities of a nation and to determine how material intensive an economy is.