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In the field of accounting, the process of allocating costs that cannot be directly attributed to production activities through quantifiable methods is referred to as cost assignment. This involves assigning corporate expenses to various products by utilizing direct labor costs or hours as a basis for allocation.
Within the field of accounting, a sub-unit can be identified as an organizational entity that has responsibility for the management and allocation of costs.
In the field of accounting, a scenario or event that results in a modification in the utilization of a resource, or impacts the quality or cycle time. An activity can possess several cost drivers. The quantification of cost drivers is not a strict requirement, but it significantly impacts the determination and scale of resource drivers and activity drivers.
In the field of cost accounting, the process involves the analysis, measurement, and interpretation of the impacts caused by cost drivers. The outcomes are frequently utilized in continuous improvement initiatives aimed at diminishing throughput durations, enhancing quality, and minimizing expenses.
Within the field of cost accounting, the fundamental unit of a resource, activity, or cost object is referred to as the lowest level component.
The effective administration and regulation of various activities and factors that contribute to the determination of precise costs for products and services, the enhancement of business processes, the elimination of inefficiencies, the manipulation of cost drivers, and the strategic planning of operations. The acquired knowledge will possess practical use in the establishment and assessment of an organization's strategies.
One variant of project-based learning (PBL) contract pricing involves the integration of a cost basis alongside an award fee component.
A variant of project-based learning (PBL) contract pricing that integrates a cost basis with an incentive fee component. The inclusion of the incentive feature enables the modification of a fundamental fee in accordance with the correlation between real expenses and desired expenses.
This funding stream encompasses a diverse range of program logistical support tasks.
The interconnectedness of system variables suggests that alterations in one variable can have a financial influence on other variables. The reduction in cost for one variable may result in an increase in cost for other variables, and vice versa.
In the field of cost accounting, the concept of variance refers to the disparity between the anticipated budgeted amount for a specific activity and the actual cost incurred.
The financial expenditure associated with obtaining or allocating funds for borrowing or investment purposes.
The direct costs attributable to the production of the goods sold in a company, including the cost of the materials and labor directly used to create the good.
The quantification of direct materials, direct labor, and allocated overhead linked to the sale of items during a specific timeframe, ascertained in line with Generally Accepted Accounting Principles (GAAP).
The opportunity cost linked to a stockout.
In the context of shipping, the phrase "freight" refers to a contractual agreement in which the seller assumes responsibility for the expenses incurred during transportation, specifically in the marine sector.
The CSCMP, or Council of Supply Chain Management Professionals, is a non-profit professional organization that encompasses persons from many parts of the globe who possess interests and/or responsibilities in the fields of logistics and supply chain management, as well as the associated functions that constitute these professions. The primary objective of this initiative is to facilitate the advancement of the logistics and supply chain management disciplines by offering educational avenues and pertinent resources to professionals in these fields. This is accomplished through a diverse range of programs, services, and activities.
The described procedure involves order pickers who are responsible for selecting full cases from pallet rack locations. Upon completing the pick for a specific location, these order pickers conduct an immediate cycle count using a Radio Frequency or voice terminal. The utilization of the count-back program constitutes a singular element in substantiating impeccable order picking and achieving the utmost level of inventory precision.
A prompt and efficient service that caters to the transportation of valuable goods and important documents, typically with a restricted scope of coverage by companies.
This encompasses the expenses related to the development and valuation of configurations for ordering purposes, as well as the preparation of client order paperwork.
The available purchase credit for a customer. The determination of credit limit is often established by the internal credit department and is subsequently adjusted to account for outstanding unpaid invoices or pending orders.
The distinguishing factor of an idea, product, service, or business model is in its uniqueness.
The essential prerequisites for achieving success can be assessed through quantitative measurements of effectiveness, economy, and efficiency. These prerequisites encompass a limited number of critical domains where satisfactory performance is imperative for the prosperity of a business. They encompass the attributes, circumstances, or factors that directly impact a customer's contentment with a particular business procedure. Furthermore, they encompass the collection of tasks that must be executed correctly in order to realize a desired vision.
In this approach, a revised ABC analysis is employed, wherein a subjective assessment of criticality is allocated to each item inside the inventory.
The distribution system under consideration involves the direct preparation of merchandise received at the warehouse or distribution center for dispatch to retail stores, without the intermediate step of storing the merchandise. The successful implementation of cross docking necessitates the meticulous coordination of all incoming and outgoing shipping activities. The elimination of put-away, storage, and selecting activities has the potential to substantially decrease distribution costs.
The term "interfunctional" is employed to denote a process or action that transcends the boundaries between different functions. A cross-functional team is comprised of persons who belong to multiple organizational units or functions.
The act of endeavoring to promote supplementary merchandise to a client during a sales conversation. For instance, when the customer service representative (CSR) displays a camera bag and accompanying accessories to a customer who is placing an order for a camera.
A warehousing practice where incoming goods are directly transferred from inbound trucks to outbound trucks with little or no storage time, reducing handling and storage costs.
A collective of individuals hailing from diverse functional domains within an organization, convened for the purpose of collaborating and tackling distinct supply chain obstacles or initiatives.
The phenomenon under consideration pertains to a material flow activity wherein the transportation of materials to customers occurs from a secondary shipping point, as opposed to the primary shipping point.
Within the field of cost accounting, there exists a phenomenon known as the inequitable allocation of costs to cost objects. This allocation discrepancy results in the overestimation or underestimation of costs incurred by these objects, in relation to the real level of activities and resources utilized. This could potentially lead to suboptimal managerial actions that deviate from the economic objectives of the firm.
The cubic volume refers to the amount of space that is utilized or accessible for the purposes of shipping or storage.
The measurement of the shipment or package's capacity. The calculation involves multiplying the length, width, and depth of the object.
Within the context of warehousing, storage capacity utilization refers to the quantification of the extent to which the entirety of a truck or warehouse's storage capacity is being effectively utilized.
In the field of warehousing, there exists a metric that quantifies the amount of space that is either available or necessary for the purposes of transit and storage.
A computation derived from the available-to-promise (ATP) value within the master schedule. There are two distinct approaches employed in the computation of the cumulative available-to-promise, namely the method with lookahead calculation and the method without lookahead calculation. The cumulative ATP with lookahead can be calculated by adding the ATP from the previous period to the MPS of the current period, and then subtracting the backlog of the current period. Additionally, the cumulative ATP is adjusted by subtracting the sum of the discrepancies between the backlogs and MPSs of all future periods, up until the point where the production exceeds the backlogs. The cumulative without lookahead technique can be calculated by adding the available-to-promise (ATP) from the previous period to the master production schedule (MPS), and then subtracting the backlog from the period under consideration.
The aggregate duration necessary for the procurement of components, assembly, and transportation of a product.
The whole duration required for both internal and external processes to produce a product that is ready for shipment, on the assumption that there are no current inventory, pending material or part orders, and no prior forecasts established with suppliers. One crucial aspect to consider in analyzing the whole supply chain response time is the identification of the essential path among the various parts involved.
Water carriers impose an additional fee in response to fluctuations in currency value. cGMP) are a set of guidelines and regulations established by regulatory agencies to ensure the quality, safety, and efficacy of pharmaceutical products. These practices are designed to minimize the risk of contamination, errors, and deviations during the manufacturing process. Compliance with
In the context of distribution, the Trading Partner or reseller, also known as the intermediary entity involved in the process of transferring goods or services from the producer to the end consumer, plays a significant role. The three options under consideration are Wal-Mart, Safeway, and CVS. In the Direct-to-Consumer model, the ultimate recipient or consumer is the one who directly interacts with the product or service.
The metric that measures the speed at which new clients are obtained or existing customers are kept. One crucial aspect that serves as a persuasive factor for possible marquis partners.
The customer, often known as the end user, serves as the driving force behind the production and delivery of goods or services.
The individuals or tasks that involve direct interaction with customers.
This include the expenses related to the generation of invoices, the handling of client payments, and the validation of customer acknowledgment.
A customer's request to purchase a certain product or multiple ones. The term "actual demand" is commonly used to differentiate it from a projected or anticipated demand.
The concept of assigning a monetary worth to the financial gain derived from conducting transactions with a specific clientele.
The average duration between the receiving of goods by the customer and the completion of installation (if applicable) encompasses several sub-elements, namely the time required to set up and initiate the product, as well as the customer's acceptance of the product. One aspect to consider in the context of order fulfillment is the lead time associated with the process.
This pertains to the utilization of information technologies that facilitate sales and marketing operations, in contrast to the implementation of Enterprise Resource Planning (ERP) systems, which primarily focus on back-end integration.
The process of categorizing clients into distinct groups based on specified criteria, such as their purchasing patterns, geographical location, and other relevant factors.
The activities conducted by the customer and seller that serve to improve or facilitate the sale or utilization of the seller's products or services.
The person who delivers customer assistance through telephonic communication in a call.
The average duration from the moment a consumer grants authorization for an order and the subsequent receipt of that order, marking the initiation of order entry. One aspect of the order fulfillment process that warrants attention is the lead time.
The overall duration from when a customer order is placed to when that order is fulfilled.
A buyer-supplier relationship that endures over an extended period, distinguished by collaborative efforts and a shared sense of trust. The supplier is regarded as an extension of the buyer's organization. The cooperation is founded upon a number of promises. The purchaser engages in the establishment of extended contractual agreements and employs a reduced number of providers. The supplier employs quality assurance procedures in order to minimize the need for inbound inspection. In addition to facilitating the procurement process, the supplier plays a crucial role in assisting the buyer in cost reduction efforts and enhancing both product and process designs.
This study examines the various contacts between customers and an organization during the order fulfillment process, encompassing aspects such as product/service creation, production and delivery, and order status reporting.
The process of assembling a product by utilizing pre-existing components according to specific customer requirements.
A business entity responsible for managing the process of foreign shipment clearance through customs, while also ensuring the accuracy and completeness of the associated documents.
The proposed endeavor is a collaborative effort between the government and businesses aimed at establishing cooperative ties to enhance both the integrity of supply chains and the security of borders. The volunteer initiative has been specifically developed with the aim of disseminating information that can effectively safeguard the supply chain against potential compromises by terrorists.
Cyclic inventory counting is an audit technique that involves counting inventory on a regular timetable, as opposed to conducting a single annual count. A periodic inventory count is often conducted at regular intervals, with higher frequency for things of higher value or faster turnover, and lower frequency for items of lower value or slower turnover. The implementation of highly efficient cycle counting systems necessitates the daily counting of a specific quantity of objects, with each individual item being counted at a predetermined frequency. The primary objective of cycle counting is to detect and identify inaccuracies in inventory records, thereby initiating further investigation, identification, and resolution of the underlying causes of these discrepancies.
A perpetual inventory system is implemented, wherein frequent and ongoing counts are conducted, thereby reducing or eliminating the necessity for an annual comprehensive inventory. Typically, a system is established wherein A items are subject to regular counting intervals, such as monthly assessments, B items are counted at semi-regular intervals, such as quarterly or biannual evaluations, and C things are counted on an annual basis.
The duration required to accomplish a business process.
The overall duration required for the processing of items that have been returned as excess by customers or distribution centers, in order to prepare them for resale. The cycle time encompasses the duration starting from the creation of a Return Product Authorization (RPA) to its approval, as well as the time span between the availability of the product for pick-up and its actual receipt, and finally, the interval between the receipt of the product and its subsequent availability for use.
The overall duration required for the processing of products that have been returned as Obsolete & End of Life, leading up to their final disposal. The cycle time encompasses the duration starting from the creation of a Return Product Authorization (RPA) to its approval, as well as the time span from the availability of the product for pick-up to its receipt, and from the receipt of the product until its disposal or recycling.
The overall duration required for the processing of products that have been returned for the purpose of repair or refurbishment. The cycle time encompasses various stages, including the creation and approval of a Return Product Authorization (RPA), the period between the availability of the product for pick-up and its receipt, the time from product receipt to the commencement of repair/refurbishment, and finally, the duration from the start of repair/refurbishment to when the product becomes available for use.
A scenario in which the demand patterns for a product exhibit cyclical behavior due to factors such as seasonality or other predictable influences.
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The phenomenon under consideration is the practice wherein vendors opt to directly ship items to the retail store rather of use the retailer's distribution center (DC).
The acronym utilized by practitioners of Six Sigma as a mnemonic device to aid in the recollection of the sequential stages involved in a Six Sigma improvement project is DMAIC, which stands for Define, Measure, Analyze, Improve, and Control.
The Department of Defense (DoD) in the United States of America (USA)
The directive DODI from the Department of Defense (USA)
The Data Universal Numbering System (DUNS) is a standardized method of identifying and tracking entities in the global business community.
The company is assigned a distinct numerical identifier consisting of nine digits by Dun & Bradstreet. The acronym DUNS refers to the Data Universal Numbering System.
The utilization of a performance measurement tool is employed to effectively record a concise overview of the Key Performance Indicators (KPIs) and metrics pertaining to an organization. Metrics dashboards and scorecards should possess a high degree of readability and commonly use color-coded indicators such as red, yellow, and green to signal instances where the organization fails to achieve its metrics targets. Ideally, a dashboard or scorecard should possess a cross-functional orientation, encompassing both financial and non-financial metrics. Furthermore, it is imperative to conduct regular reviews of scorecards, with a recommended frequency of at least once a month. However, in key operational areas such as manufacturing and distribution, where activities play a pivotal role in determining the overall success of an organization, it is advisable to conduct weekly reviews of scorecards. The application of the dashboard/scorecards paradigm can extend to external supply chain partners, including suppliers, in order to ensure alignment between their objectives and practices.
The process of transmitting data electronically, typically in a format that can be interpreted by computers, employing a range of methods.
Enumerates the data items that are governed by established standards. The data dictionary produced by the Joint Electronic Document Interchange (JEDI) committee is widely utilized by numerous users of Electronic Data Interchange (EDI) systems.
The secretariat is responsible for offering secretarial and administrative assistance to the ASC X12 Committee.
The practice of analyzing data in order to identify hitherto undiscovered connections. Subsequently, this knowledge is utilized in order to accomplish particular objectives inside the realm of business.
The Global Data Synchronisation Network (GDSN) serves as a centralized database that facilitates the acquisition, management, and sharing of data pertaining to items and parties. This platform enables trading partners to access, update, and exchange information in a standardized format through electronic communication methods.
A curated collection of data that has been specifically curated and formatted to facilitate the utilization of decision-making applications. Synonym
Data is typically kept in a format that can be read by computers, and is often organized or arranged in a systematic manner that allows users to locate specific pieces of data that are required.
A product label indicating the date of manufacture. In the context of food industries, the inclusion of a lot number is frequently considered to be an essential component.
An approximation of the duration within which the corporation settles its financial obligations to vendors subsequent to the receipt of inventory. When the firm is able to obtain advantageous terms from its suppliers, it results in a situation where the firm benefits from cost-free financing. When the terms are shortened and the corporation is compelled to make payments upon receiving goods, it diminishes trade finance and augments the working capital needs of the firm. The calculation is performed.
The financial metric in question is a composite indicator that encompasses two key components: the chronological age, measured in days, of a firm's accounts receivable, and the mean duration required to convert these receivables into cash. The acceptability of the company is determined by comparing it to both company and industry averages, as well as evaluating its adherence to company selling terms such as Net 30.
The inventory turnover ratio is a metric that quantifies the amount of inventory available in relation to the number of days it will cover usage. As an illustration, when a component is utilized in sales or production at a daily rate of 100 units, and there is a current inventory of 1,585 units, this signifies a supply that would last for a duration of 15.85 days. In the majority of instances, the objective is to exhibit effectiveness by achieving a substantial turnover rate, resulting in a diminished inventory duration. However, it is important to acknowledge that this ratio can have undesirable consequences if it is either very high or excessively low. In order to maintain a sustainable business operation, it is imperative for a firm to effectively manage the expenses associated with inventory, taking into account both the unit and acquisition costs. This entails striking a delicate equilibrium between minimizing inventory carrying costs and avoiding potential shortages that could result in the loss of business opportunities and eventually, customer attrition.
The phrase "non-functional products upon delivery" is often to characterize items that lack operational capability upon receipt. Synonym
The act of returning a transportation container to its original location without any contents.
In certain scenarios, the allocation of management decision-making authority is delegated to managers inside an organization.
The software facilitates enhanced efficiency in accessing and streamlining data analysis, querying, and other related tasks within a database management system.
The forecasting technique employed involves the division of time series data into three distinct components: trend, seasonal, and cyclical. The trend component represents the overall horizontal movement, either upward or downward, observed over time. The seasonal component captures the recurring demand pattern, such as weekly, monthly, or quarterly fluctuations, as well as any specific patterns associated with particular days of the week. Lastly, the cyclical component encompasses any repetitive patterns that are not related to the seasonal variations. One additional element present in the dataset is randomness, which refers to data lacking any discernible pattern. The new forecast is generated by separately projecting the determined patterns and subsequently integrating them.
A third-party service that allocates equipment (namely automobiles) and drivers to a solitary consumer for the purpose of exclusive utilization under a contractual arrangement.
The objects that have been returned exhibit various forms of damage, including damage incurred during delivery, damage resulting in an outstanding freight claim, or damage sustained during warehouse handling.
ASCII refers to a set of characters that serve the purpose of delineating data elements inside a given data stream. In the context of data transfer, the Electronic Data Interchange (EDI) protocol has two levels of separators and a terminator as essential components of the transmitted data stream. The specification of delimiters is indicated in the exchange header. In descending order of hierarchy, the separators and terminator employed in data transmission systems are as follows: the segment terminator, the data element separator, and the component element separator (specifically utilized within the context of EDIFACT).
The metric utilized to assess the performance of internal scheduling systems is the proportion of orders that are successfully completed on or prior to the internal Commit date. The determination of delivery measurements is contingent upon either the date of shipment for a fully fulfilled order or the date of delivery to the specified recipient for a fully fulfilled order. In order for an order to be considered complete, it is necessary for all things listed on the order to be delivered in the exact quantities as specified. In order to be deemed fulfilled, an order must be fully completed. The presence of several line items on a single order, each with distinct scheduled delivery dates, results in the classification of multiple orders. Similarly, if a single line item contains multiple planned delivery dates, it also qualifies as many orders.
The metric employed to gauge the level of responsiveness to market demand is the proportion of orders that are successfully completed on or before to the date specified by the customer. Delivery measurements are determined by either the shipment date or the date on which a complete order is delivered to the specified location. A comprehensive order entails the successful delivery of all items specified in the order, in the exact quantities as requested. In order to be deemed fulfilled, an order must be fully completed. When a single order contains numerous line items with distinct scheduled delivery dates, it is considered as many orders. Similarly, if a single line item has multiple planned delivery dates, it is also considered as multiple orders.
The supplier/manufacturer partnership entails a logistical framework wherein suppliers bear the responsibility of transporting the commodities they have made to the manufacturer. This responsibility encompasses various tasks, including the facilitation of product clearance through Customs.
One often employed qualitative forecasting technique is the aggregation of expert opinions over a number of iterative processes. The outcomes of each iteration are utilized to generate subsequent iterations, so achieving convergence of the experts' perspectives.
The aforementioned entity is a professional organization comprised of individuals that specialize in the fields of transportation and traffic management.
The preferences and desires of customers or users. Traditionally linked to the acquisition of goods or services rather than a projection or estimation.
An alternative term for the supply chain, which places emphasis on the customer or end-user demand as the driving force for the movement of resources and products throughout the chain.
Similar to supply chain management, this approach places focus on the consumer's demand-driven influence rather than the supplier's proactive push strategy.
The process of estimating the quantity of a product or service that consumers will purchase in the future.
