INTRODUCTION OF SUPPLY CHAIN MANAGEMENT A Supply chain is defined as a set of three or more companies directly linked by one or more of the upstream and downstream flows of services, products, finances and information from a source to a customer. It is the systematic and strategic coordination of the traditional business functions within a particular company and across businesses within the supply chain to impose the long-term performance of the individual companies and the supply chain. Supply
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Adjusting lower cost or market on inventory valuation Valuing inventory is usually accomplished using one of three methods. FIFO (first in, first out), LIFO (last in, first out), and weighted average. With the FIFO method, the first items purchased would be the first items removed from the inventory. The LIFO method removes the most recently purchased inventory items first. Weighted average is a compromise between FIFO and LIFO. When weighted average is used the total cost of inventory available
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WHITE PAPER The Synchronized Distribution Supply Chain: Best Practices in Warehouse Management About Motorola’s Mobile Supply Chain Solutions Every day, companies all over the world count on Motorola mobility solutions to keep their supply chain operations at peak productivity and profitability. When it comes to supply chain optimization, Motorola’s end-to-end supply chain mobility solutions offer the expertise gained through successful proven deployments in many of the world’s largest enterprises
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Rabinowitz, a director; Helen Poplock, a director; and Sean Pheils, a senior associate with PricewaterhouseCoopers’ Washington National Tax Services (WNTS) practice. For over 70 years, US taxpayers have been able to value the cost of their inventories using the last-in, first-out inventory method of accounting (LIFO). In general, to use LIFO for federal income tax purposes, taxpayers must also use LIFO for financial reporting purposes (herein referred to as the LIFO conformity requirement). The use of LIFO
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process to improve: Supply/Inventory Management II. Business Process Explanation: Current inventory management and supply ordering processes are ineffective in today’s business environment. Effective management of on hand supplies coupled with the ability to reorder needed stock quickly and at competitive prices will ease the stresses associated with UMUC Haircuts current inventory/supply business model. Achieving efficiency isn’t easy and there is an associated cost. Information Technology
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reports estimate of receivables at realizable value; one composite rate, an aging schedule ( most accurate) --asset: future economic benefit inventory: items held for sale in ordinary course of business or goods to e used in the production of goods to be sold --beginning inventory + cost of goods purchased = COGAS(available) = COGS + ending inventory --perpetual: purchase are debited
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ACC 350 Review Problems, Chapter 2 Inventory Equation: Beginning Inventory + Additions = Withdrawals + Ending Inventory 1. The records of Custom Choppers, Inc. for September 2014 shows the following information: Sales | $820,000 | Selling and administrative expenses | 140,000 | Direct materials purchases | 176,000 | Direct labor | 200,000 | Factory overhead | 270,000 | Direct materials, September 1 | 24,000 | Work in process, September 1 | 50,000 | Finished goods, September
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Review Problems, Chapter 2 Inventory Equation: Beginning Inventory + Additions = Withdrawals + Ending Inventory 1. The records of Custom Choppers, Inc. for September 2014 shows the following information: Sales | $820,000 | Selling and administrative expenses | 140,000 | Direct materials purchases | 176,000 | Direct labor | 200,000 | Factory overhead | 270,000 | Direct materials, September 1 | 24,000 | Work in process, September 1 | 50,000 | Finished goods, September 1 | 46
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SWOT and inventory mgmt. analysis/REAL GAME Max 40 points. Return this group assignment to Tuubi by 18.10. Assignment 1. SWOT Analysis, max 20 points SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis can be used as part of a marketing plan, helping to produce meaningful recommendations. The first half of the the analysis – strengths and weaknesses – examines the company’s position or the position of its products, in regard of customers, competitor activity, environmental
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lack of ability to plan. We will determine the replenishment orders for the distributors, offering them an additional value added service and minimizing stock outs. The benefits of the JITD system include reduced manufacturing costs, reduced inventory and carrying costs, production planning ability, and increased supply chain visibility. Despite our lack of success, the issue is not whether or not we should continue with the JITD system, but rather how best to ensure the success of the implementation
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