SQUARE TEXTILES LIMITED Definition of related terms: Cost accounting: Cost accounting involves recording of cost accumulation of cost analyzing of cost and control of cost. Material Control: The term Material Control means recognition of function of an organization relating to the procurement, storage and wages of material in such a way as to maintain and even flow of production without excessive investment in material struck. Material can be classified into two categories: 1. Direct
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2 Materials BASIC CONCEPTS AND FORMULAE 1. Maximum Level: It indicates the maximum figure of inventory quantity held in stock at any time. 2. Minimum Level: It indicates the lowest figure of inventory balance, which must be maintained in hand at all times, so that there is no stoppage of production due to non-availability of inventory. 3. Re-order level: This level lies between minimum and the maximum levels in such a way that before the material ordered is received into the
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shortage is calculated by integration, and can allow students who have not had a calculus-based statistics course to better understand how uncertainty affects inventory decisions. INTRODUCTION After a thorough explanation of the economic order quantity (EOQ) model, operations management and management science textbooks, including those by Heizer and Render (2006) and Stevenson (2012), typically treat
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1. To me, productivity is how efficient that you can be with the tasks that you do. 2. The book defines productivity as a measure of performance that indicates how many inputs it takes to produce or create an output. The fewer inputs it takes to create an output, the higher the productivity. 3. For me, I try to keep myself motivated by thinking about what I will have accomplished at the end of my tasks, or the reward that I will obtain. I like to use helpful mental reminders of why I was doing
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CHAPTER 12 HOME WORK 2011 1. a. | | Item | Usage | Unit Cost | Usage x Unit Cost | Category | | | 4021 | 90 | $1,400 | $126,000 | A | | | 9402 | 300 | 12 | 3,600 | C | | | 4066 | 30 | 700 | 21,000 | B | | | 6500 | 150 | 20 | 3,000 | C | | | 9280 | 10 | 1,020 | 10,200 | C | | | 4050 | 80 | 140 | 1,120 | C | | | 6850 | 2,000 | 10 | 20,000 | B | | | 3010 | 400 | 20 | 8,000 | C | | | 4400 | 5,000 | 5 | 25,000 | B | In descending
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Purchasing and Supply Chain Management Purchasing: *Importance of Purchasing:- Purchasing is important because...... 1. Purchasing cost account for 60 to 70 % of the total cost i.e (any saving in purchasing cost can be directly increase profit of the firm). This can be seen with the help of the Page | 1 following table. Items | Firm A | Firm B | Firm C | Raw Material | 60 | 70 | 80 | Overheads | 10 | 10 | 10 | Profit
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CYCLONE FURNITURE COMPANY The Cyclone Furniture Company is a well established family business. It consists of an ‘exclusive furniture retail show room in the downtown business centre of a large New Zealand city, and a manufacturing plant in a neighbouring satellite town. The plant manufactures furniture for their own retail showroom (25% of the output) and for export to Australia. The plant also makes top quality office furniture all of which is exported to Australia. Overall 75% of all output
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| Logistics | summary | | Ramon Mannie | 3/13/2014 | Contents 1. Lesson 1, Introduction (chapter 1) 4 1.1. Chapter objectives: 4 1.2. Logistics 4 1.3. Operations management 5 1.4. Supply chain management 5 2. Lesson 2, Operations and supply chain strategies (chapter 2) 8 2.1. Chapter objectives 8 2.2. Relationship and difference (point 1) 8 2.3. Core competencies (point 2) 9 2.4. Strategic alignment (point 3) 9 2.5. Supply chain operations and decision categories (point 4) 10 2
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20/02/2012 Inventor Management Review: McDonald's, a guide to the benefits of JIT Inventor Management Review Charles Atkinson on inventory management topics. Nov ember 08, 2005 McDonald's, a guide to the benefits of JIT Just-in-Time (JIT) inv entory is the big thing right now in operations. This, along with lean operations and six sigma are the buzz words being talked most about. But what ex actly is the deal with JIT operations? First of all, JIT is a form of prov iding supplies for
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Working Capital Management of Square Textile Limited Introduction: This report focuses on the working capital management of a reputed textile firm of Bangladesh. In this regard, we have selected Square Textile Ltd. We tried to link our findings in working capital in Square Textile Ltd. and theoretical aspects. We have found some similarities and some dissimilarity in this regard. We have particularly pointed in the inventory management, liquidity management and credit policy of the company. Overall
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