Cost of Quality is the sum of the costs related to providing a quality product and the costs related to not providing a quality product. While being an effective measure to identify cash drains, it can also be used to balance the price and quality relationship of your products.
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Although a periodic inventory system might seem clear-cut and foolproof at first glance, its disadvantages may outweigh the benefits. Perpetual inventory systems, however, are already becoming mainstream.
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Safety stock is the buffer that helps manufacturers keep serving their customers when disruptions occur.
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Backorders are orders for goods that a company cannot fill at present because demand has outpaced supply.
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Capacity Planning used in conjunction with an ERP system can improve the accuracy of planning and help control costs as well as plan for future expansion and growth.
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For a food manufacturing business, many requirements must be met, which can vary depending on the type of food you make, the facilities that you use, and the market you operate in.
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Accounting manual is a document in which every organization defines its accounting policies and procedures – in this article, we give an overview of its goals and contents.
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A robust and accurate planning system is critical to any manufacturer. In this article, we are comparing different purchasing practices – ROP/ROQ Principles vs MRP System Planning.
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The article gives an overview of what are accounting source documents and what are their goals, content, and examples.
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Following good practices is recommended when managing the SKUs. Here is an overview of some of the best practices to follow.
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For manufacturing companies, few things are as important in finance departments than inventory costing. Here’s an overview of different inventory valuation methods.
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How to Go From Excel to Manufacturing Software / MRP System in Stock Management and Production Scheduling.
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