...Gokulnath R 2011PGP638 Kartik Shrivastava 2011PGP685 Sumit Prakash 2011PGP907 Upasana Mukherjee 2011PGP922 Vemb V 2011PGP932 The task is to evaluate the best costing alternative for Lehigh steel. For this, an improvised costing system is developed which overcomes the assumptions of ABC and TOC costing and the optimum product mix for Lehigh Steel is calculated using the same Executive Summary Lehigh Steel is a manufacturer of speciality steels for high strength, high use applications. Its financial performance has generally trended wit but outperformed the industry as a whole. Following the general recessionary trend of the market, Lehigh Steel reported record losses in 1991 after posting record profits in 1988. This had led to an increasing need to rationalizing Lehigh Steel‟s product mix. Traditionally, Lehigh Steel has followed Standard Cost Method for cost accounting. Jack Clark, CFO of Lehigh Steel has given Bob Hall the task of implementing Activity Based Costing at Lehigh Steel. Mark Edwards, Director of Operations and MIS explored the implementation of Theory of Constrains (TOC) accounting for Lehigh Steel. The task is to evaluate the best costing alternative for Lehigh steel. For this, an improvised costing system is developed which overcomes the assumptions of ABC and TOC costing and the optimum product mix for Lehigh Steel is calculated using the same. Situation Analysis Company Analysis Founded in 1913, Lehigh Steel enjoyed a niche position...
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...Development of Product Costing Module in ERP for L&T Kansbahal Works, Kansbhal, Orissa : A Case Study 1 Seema G. Bhol, 2Arun Mishra & 3Srikanta Patnaik Sambalpur University, Burla, Orissa, India, 2Head (IT Services), L&T, Kansbhal, Orissa, India, 3 Department of Computer Science ITER , SOA University , Bhubaneswar, Orissa, India E-mail : guptaseema@hotmail.com, arun-kbl@kbl.ltindia.com, patnaik_srikanta@yahoo.co.in 1 Abstract - One need to be very accurate in what the products and services are costing. Inaccurate cost components could cost an organization more dearly. So, to full fill our present and future requirements and ambitions in all respect of life, it is essential enhance our expertise to link the power of today's information technology with the tools of economic theory and business strategy.[2] This paper aims at throwing new lights on various developments and formulate strategy for their implementation. Keywords— Business Mapping Report (BMR), Product costing, Dataflow Diagram, Enterprise Resources Planning (ERP), cost overhead, cost centres, Cost variance report, WIP. . 1. INTRODUCTION businesses, non-profit organizations and governments now all utilize ERP systems. The use of erp module saves time and money without sacrificing accuracy and control. Product costs are analysed quickly and accurately, which empowers the organization with the ability to perform minute analysis and projections of product cost. Few of the many advantages of product costing are: • • • • • Streamlined...
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...Towards a conceptual framework for strategic cost management - The concept, objectives, and instruments - Von der Fakultät für Wirtschaftswissenschaften der Technischen Universität Chemnitz genehmigte Dissertation zur Erlangung des akademischen Grades Doctor rerum politicarum (Dr. rer. pol.) vorgelegt von Ibrahim Abd El Mageed Ali El Kelety geboren am 11.01.1965 in El Menoufia - Ägypten eingereicht am: 14. Juni 2006 Gutachter: Prof. Dr. Uwe Götze Prof. Dr. Dr. h.c. Jürgen Bloech Prof. Dr. Peter Schuster Tag der mündlichen Prüfung: 18. Juli 2006 Acknowledgement To the Almighty God “ALLAH” Who have granted me all these graces to fulfill this work and Who supported me in all my life. To Him I extend my heartfelt thanks. It is a pleasure to express my sincere and deepest heartfelt gratitude to my “Doktorvater“ Prof. Dr. Uwe Götze for his kind supervision, continuous encouragement, valuable enthusiastic discussion and unfailing advice throughout the present work, as well as financial support during my latest period of study in Germany. He assisted in all matters, provided solutions to different problems. Prof. Dr. Uwe Götze supported and helped me during my learning period in Germany and writing this thesis. I am very lucky being one of his students. I would like to express my deep thanks to Prof. Dr. Dr. h.c. Jürgen Bloech - Georg-August University of Göttingen - for his kind acceptance to act as an examiner. I would also like to express my sincere thanks to Prof. Dr. Peter...
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...Challenges for a Tier 2 Supplier | The Indian Automotive Supply Chain Context | | | | | Contents Introduction 4 A Brief History of Indian Auto Sector 4 The Present Scenario 5 Indian Automotive Industry Supply Chain 6 Characteristics of the Auto Supply Chain 8 Tiered Structure 8 Linkage of Suppliers and OEMs 9 Supplier Power – An Industry Level Analysis 10 Clustered Development 11 Financial Position of the Suppliers 12 Supply Chain Challenges in the Auto Industry 13 SM Auto Stamping Pvt. Ltd – An Introduction 13 Products Manufactured 14 Quality Systems 14 Manufacturing Process 15 Challenges and Opportunities 15 Scheduling and Production 15 Variety and Performance 17 Procurement 18 Pricing and Costing 19 Cyclical Nature of the Industry 20 Solutions 20 Data Analysis 21 Conclusion - Creating a Win-Win Strategy 23 References 25 Appendix I 26 List of Figures Figure 1 – Automobile Market in India 6 Figure 2 – Global growth of the automobile market 7 Figure 3 – Turnover contribution of different components 7 Figure 4 – Automobile supply chain 9 Figure 5 – Automobile and auto component industry growth rates 10 Figure 6 – Strategic analysis of supplier industry 11 Figure 7 – Suppliers in India 12 Figure 8 – Margin trends 12 Figure 9 – Manufacturing flow process for SM Auto 15 Figure 10 – Scheduling Plan 16 Figure 11 – Various manufactured components 17 Figure 12 – Suppliers in India 19 ...
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...THE INDIAN AUTOMOBILE SECTOR- HPL PROJECT Introduction The term automotive was created from Greek autos (self), and Latin motivus (of motion) to represent any form of self-powered vehicle. The Indian automotive industry has emerged as a 'sunrise sector' in the Indian economy. India is emerging as one of the world's fastest growing passenger car markets and second largest two wheeler manufacturer. It is also home for the largest motor cycle manufacturer and fifth largest commercial vehicle manufacturer. The automotive industry in India is one of the largest in the world and one of the fastest growing globally. India's passenger car and commercial vehicle manufacturing industry is the sixth largest in the world, with an annual production of more than 3.9 million units in 2011.[1] According to recent reports, India overtook Brazil and became the sixth largest passenger vehicle producer in the world (beating such old and new auto makers as Belgium, United Kingdom, Italy, Canada, Mexico, Russia, Spain, France, Brazil), growing 16 to 18 per cent to sell around three million units in the course of 2011-12.[2] In 2009, India emerged as Asia's fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand.[3] In 2010, India beat Thailand to become Asia's third largest exporter of passenger cars. As of 2010, India is home to 40 million passenger vehicles. More than 3.7 million automotive vehicles were produced in India in 2010 (an increase of 33.9%), making the...
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...THE EARLY SOCIOLOGY OF MANAGEMENT AND ORGANIZATIONS THE EARLY SOCIOLOGY OF MANAGEMENT AND ORGANIZATIONS VOLUME I Scientific Management Frederick Winslow Taylor Comprising: Shop Management The Principles of Scientific Management Testimony Before the Special House Committee VOLUME II The Philosophy of Management Oliver Sheldon VOLUME III Dynamic Administration: The Collected Papers of Mary Parker Follett Edited by Henry C.Metcalf and L.Urwick VOLUME IV Papers on the Science of Administration Edited by Luther Gulick and L.Urwick VOLUME V Management and the Worker F.J.Roethlisberger and William J.Dickson VOLUME VI The Human Problems of an Industrial Civilization Elton Mayo VOLUME VII Organization and Management: Selected Papers Chester I.Barnard VOLUME VIII On the Shop Floor: Two Studies of Workshop Organization and Output T.Lupton THE EARLY SOCIOLOGY OF MANAGEMENT AND ORGANIZATIONS Edited by Kenneth Thompson VOLUME II The Philosophy of Management Oliver Sheldon LONDON AND NEW YORK First published 1924 by Isaac Pitman & Sons Ltd, London This edition published 2003 by Routledge 11 New Fetter Lane, London EC4P 4EE Simultaneously published in the USA and Canada by Routledge 29 West 35th Street, New York, NY 10001 Routledge is an imprint of the Taylor & Francis Group This edition published in the Taylor & Francis e-Library, 2005. “To purchase your own copy of this or any of Taylor & Francis or Routledge’s collection of thousands of eBooks please go to www.eBookstore...
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...Characteristics 34 End To End Solutions Models 35 Corporate Social Responsibility 37 Summary and Recommendation 39 Conclusions: 40 About the Company Suzlon Energy is a global wind power company based in India. Suzlon is a market leader in Renewable Energy Resources segment in India. It specializes in providing total solutions in Wind Power Generation with cohesive integration of consultancy, design, manufacturing, installation, operation and maintenance services. Currently, Suzlon is ranked as fifth leading wind turbine manufacturer in the world in terms of cumulative installed capacity, at the end of 2011. Suzlon delivers end-to-end wind power solutions from assembly, installation to commissioning. The company manufactures blades, generators, panels, and towers in-house and state-of-the-art large or offshore turbines through its subsidiary REpower. The company is integrated downstream and delivers turnkey projects through its project management and installation consultancy, and operations & maintenance services. Suzlon is a multinational company with offices, R&D and technology centers, manufacturing facilities and service support centers spread across the globe. History The seeds of Suzlon were sown by Mr. Tulsi R. Tanti’s venture into the textile industry. Faced with soaring power costs and the infrequent availability of power, he looked to wind energy as an alternative. Beginning with a wind farm project he set forth to...
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...CEI 602 November 10, 2006 DUTT’S FOUNDRY – PART-I Sunil Dutt knew he had to make up his mind fast. Later in the evening Anil Tripathi would be calling up, and Dutt was expected to give his final answer to Tripathi’s request for advising the large tube manufacturing complex at Indore. Dutt knew that the substantial monthly consultancy fees would provide much needed revenue for the Caltech team at Jamshedpur. By being away at Indore he would also avoid the constant clashes with his co-promoter A. Chakravarthy. But it would also mean that his absence could have a serious impact on the project implementation activities and jeopardize the basic idea with which he and his colleagues had left jobs and started their venture, Caltech. The Early Years Dutt was born in a middle class family in Jamshedpur, where his father was a doctor working with the Tatas. His father was a disciplinarian and inculcated values of hard work, integrity, family commitment and social consciousness in his children. Due to an untimely accident Dutt’s father had become incapacitated, and as the eldest child. Dutt was forced to accept partial responsibility for his younger brothers and sisters. He gave up his childhood dream of becoming an engineer, and instead started working with TISCO (now called Tata Steel) immediately after passing Intermediate Science. Dutt’s passion about technological innovations and his high commitment to action soon started being noticed by senior management in TISCO. This case was...
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...developed his company in to a Fortune 1000 enterprise, employing 550 people with projected earnings of $46 million dollars and over $1 billion in revenues. In 1993 the company expanded from high tensile strength plastics and fans into producing plastic beverage containers. The company’s latest expansion was in 2000 when it opened operations in China. Riordan Manufacturing is the industry leader in using polymer materials with future goals of achieving and maintaining reasonable profitability to ensure and sustain growth (Apollo, 2005). In response to Hugh McCauley’s, Riordan Manufacturing Chief Operations Officer‘s (COO) concern about the antiquated processes and his requirements the team analyzed the manual and redundant processes of the current Human Resources System Integration (HRIS). The team has determined with the use of state-of-the art information technology system the current manual intensive, multi-functional processes can be integrated into a single system. The team has kept in consideration that the integrated HRIS has to be accessible by all of Riordan’s plant locations. Based on the request the new system should be completed and available for use by the second quarter of next year. The team along with Hugh McCauley will determine how to develop the project test plan, determine resources, and how best to acquire the staff to meet the needs of the project. From initiation to lifecycle management will allow flexibility and future growth modification to...
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...fundamentals of cost accounting fourth edition William N. Lanen Shannon W. anderson Michael W. Maher ® accounting The integrated solutions for Lanen/Anderson/Maher’s Fundamentals of Cost Accounting, 4e have been proven to help you achieve your course goals of improving student readiness, enhancing student engagement, and increasing their comprehension of content. Known for its clear and engaging style, the Lanen solution employs the use of real-world scenarios, LearnSmart, and instant feedback on practice problems to help students engage with course materials, comprehend the content, and achieve higher outcomes in the course. Our new Intelligent Response Technology-based content offers students an intelligent homework experience that helps them stay focused on learning instead of navigating the technology. Finally, McGraw-Hill’s adaptive learning component, LearnSmart, provides assignable modules that help students master core concepts and come to class more prepared. LearnSmart with Lanen is an introductory managerial accounting review, providing students with a refresher on these topics for their cost accounting course. PROVEN EFFECTIVE Get Connected. FEATURES Intelligent Response Technology Intelligent Response Technology (IRT) is Connect Accounting’s new student interface for end-of-chapter assessment content. Intelligent Response Technology provides a general journal application that looks and feels more like what you would find in a general ledger...
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...and IT enabled value added services in all parts of country specially rural, remote and backward areas. To generate revenue through commercial exploitation of its telecom network. Investments/Developments Foreign direct investment (FDI) inflows into railway related components from April 2000 to September 2015 were US$ 652.2 million. Following are some of the major investments and developments in India’s railways sector: * Japan has offered to provide loan at less than one per cent interest rate for India’s first bullet train between Mumbai and Ahmedabad costing US$ 15 billion, on the condition that India buys 30 per cent of equipment from Japanese firms. * The Madhya Pradesh government has obtained Rs 12,000 crore (US$ 1.85 billion) loan from Japan International Cooperation Agency (JICA) for its Bhopal and Indore Metro rail projects. * Indian Railways has issued a Letter of Award (LoA) to US-based General Electric (GE) for a...
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...Executive Summary The following report will determine the strategic position of Rolls-Royce and the environmental impact of a new technology upon that strategic position. The report will analyse and evaluate the role and impact of short to medium range single aisle narrow body aircraft on the strategic position of Rolls-Royce. The report will focus on the civil aerospace business of Rolls-Royce and will use Rolls-Royce Inchinnan as a base model. The Boeing 737 series and Airbus A320 are the most popular aircraft ever produced with a 737 landing in the world every five seconds. The 737 in particular will reach the end of its service life within the next ten years. Southwest airlines are requesting an overdue replacement with most airframes living thirty years, the original 737 was released in 1967. The effect of the next generation 737, released in 1998, retiring will leave a considerable gap to be filled. Rolls-Royce does not power the Boeing 737which is monopolised by Pratt and Whitney and General Electric. Should Rolls-Royce attain a share of this market it will become the largest contract ever undertaken by Rolls-Royce. The new aircraft is currently under development and is expected to form the latest of aerospace technology such as composite structures, geared turbofans or open rotor designs. All of the large aerospace manufacturers are currently vying for involvement in the programme for should the new edition emanate the previous, the returns will be substantial...
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...an indication of, your complete acceptance of these ‘Terms of Use.’ You do not have any right to resell or give away part, or the whole, of this eBook. Porter’s Five Forces Table of Contents Preface 2 Visit Our Website 3 Introduction 4 Porter’s Five Forces Analysis 6 Competitive Rivalry 11 Threat of New Entrants 18 Threat of Substitutes 20 Bargaining Power of Suppliers 23 Bargaining Power of Customers 25 Summary 28 Other Free Resources 30 References 31 ISBN 978-1-62620-999-2 © www.free-management-ebooks.com 1 Porter’s Five Forces Preface This eBook describes Porter’s Five Forces Framework, a technique that provides a model for industry analysis and business strategy development. You will learn: ●● The five key factors the model uses to identify and evaluate potential opportunities and risks ●● The importance of defining your market accurately and how this can affect the usefulness of the results you obtain ●● How to measure competitive rivalry using the Concentration Ratio and the Herfindahl–Hirschman...
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...A PROJECT REPORT ON (“A STUDY ON COST COMPARISON ANALYSIS OF TATA STEEL AND ITS COMPETITORS”) SUBMITTED TO MAEER’s MIT SCHOOL OF BUSINESS BY (SOURAV GHOSH HAZRA) 322346 32ND Batch IN PARTIAL FULFILLMENT OF POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM) Finance APRIL-MAY 2015, MAEER’s MIT SCHOOL OF BUSINESS PUNE CONTENTS Chapter No. Title Page No. Declaration from the Student Certificate from the Organization iv Certificate from the Guide v Acknowledgement vi List of Tables vii List of Graphs viii List of Abbreviation ix Executive Summary I iii x INTRODUCTION 1 – 11 1.1 Company profile 1.2 Objectives of the Study 12 1.3 Limitations of the study 12 II RESEARCH METHODOLOGY 2.1 Primary data 13 2.2 Secondary data 13 2.3 Sample design 13 2.4 Sample Size 13 2.5 Method of Data Collection 14 III THEORETICAL BACKGROUND 3.1 Data analysis Techniques IV DATA PROCESSING AND ANALYSIS 25 – 45 V MANAGEMENT LESSONS 46 - 49 VI FINDINGS 50 VII RECOMMENDATIONS 51 VIII CONCLUSION 52 Bibliography Annexure/Appendices 15 – 24 24 DECLARATION I, Mr. SOURAV GHOSH HAZRA hereby declare that this project report is the record of authentic work carried out by me during the period from 7th April to 2th June and has not been submitted to any other University or Institute for the award...
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...Pacific Fiji islands Email: drgurmeetsingh@yahoo.com 1 ONLINE TOURISM AND TRAVEL- ANALYSING TRENDS FROM MARKETING PERSPECTIVE ABSTRACT Tourism is the world's largest civilian industry whose growth, economic significance and potential are phenomenal across the globe. Online tourism is rapidly becoming a growing topic of research and its importance as future mode of acquiring information and purchase of tourism products and services is growing day by day. The present paper has been written with the extensive research on contemporaneous data, websites and conference proceedings on tourism related aspects. Web survey, focused interviews have been used to elicit specific information for such qualitative analysis.The domain of Internet is increasing day by day. Tourism products, in particular, have yet to realize its complete advantage. Still, Internet has significantly benefited the bottom line of tourism organizations in terms of cost of converting as well as losing customers with pluses and minuses respectively. Keeping this in view, online tourism is all set to reengineer most of the processes supporting travel and tours as a whole. Organizational information systems and the Internet have resulted in new ways and methods of conducting business. Airlines, Travel Intermediaries and Hotel Industry as functional stakeholders in the tourism process are expected to gain in the process. There are certain challenges, reservations and hiccups...
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