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29 Cards in this Set
- Front
- Back
activity analysis
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The study of employee effort and other business records to determine the cost of activities.
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appraisal costs
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Costs to detect, measure, evaluate, and audit products and processes to ensure that they conform to customer requirements and performance standards.
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backflush accounting
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Simplification of the accounting system by eliminating accumulation and transfer of costs as products move through production.
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conversion costs
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The combination of direct labor and factory overhead costs.
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cost of quality report
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A report summarizing the costs, percent of total, and percent of sales by appraisal, prevention, internal failure, and external failure cost of quality categories.
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costs of quality
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The cost associated with controlling quality (prevention and appraisal) and failing to control quality (internal and external failure).
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electronic data interchange (EDI)
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An information technology that allows different business organizations to use computers to communicate orders, relay information, and make or receive payments.
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employee involvement
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A philosophy that grants employees the responsibility and authority to make their own decisions about their operations.
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enterprise resource planning (ERP)
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An integrated business and information system used by companies to plan and control both internal and supply chain operations.
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external failure costs
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The costs incurred after defective units or services have been delivered to consumers.
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internal failure costs
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The costs associated with defects that are discovered by the organization before the product or service is delivered to the consumer.
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just-in-time (JIT) processing
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A processing approach that focuses on eliminating time, cost, and poor quality within manufacturing and nonmanufacturing processes.
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lead time
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The elapsed time between starting a unit of product into the beginning of a process and its completion.
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non-value-added activity
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The cost of activities that are perceived as unnecessary from the customer’s perspective and are thus candidates for elimination.
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non-value-added lead time
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The time that units wait in inventories, move unnecessarily, and wait during machine breakdowns.
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nonfinancial measure
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A performance measure that has not been stated in dollar terms.
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Pareto chart
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A bar chart that shows the totals of a particular attribute for a number of categories, ranked left to right from the largest to smallest totals.
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prevention costs
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Costs incurred to prevent defects from occurring during the design and delivery of products or services.
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process-oriented layout
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Organizing work in a plant or administrative function around processes (tasks).
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product-oriented layout
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Organizing work in a plant or administrative function around products; sometimes referred to as product cells.
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pull manufacturing
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A just-in-time method wherein customer orders trigger the release of finished goods, which triggers production, which triggers release of materials from suppliers.
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push manufacturing
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Materials are released into production and work in process is released into finished goods in anticipation of future sales.
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radio frequency identification devices (RFID)
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Electronic tags (chips) placed on or embedded within products that can be read by radio waves that allow instant monitoring or production location.
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Raw and In Process (RIP) Inventory
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The capitalized cost of direct materials purchases, labor, and overhead charged to the production cell.
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Six-Sigma
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A quality improvement process developed by Motorola Corporation consisting of five steps: define, measure, analyze, improve, and control (DMAIC).
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supply chain management
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The coordination and control of materials, services, information, and finances as they move in a process from supplier, through the manufacturer, wholesaler, and retailer to the consumer.
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value-added activity
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The cost of activities that are needed to meet customer requirements.
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value-added lead time
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The time required to manufacture a unit of product or other output.
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value-added ratio
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The ratio of the value-added lead time to the total lead time.
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