ACTG 2P12 Lecture Notes - Lecture 1: Enterprise Resource Planning, Value Chain, Total Quality Management
5 Feb 2018
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Document Summary
Directing coordinating company"s activities and human resources for smooth operations. Controlling keep activities on track, accuracy (are goals met?) Statements of ethical professional practice: competence, confidentiality, objectivity. Value chain refers to all activities associated with providing a product or service. Technological change: enterprise resource planning (erp) software systems that manage the value chain, computer-integrated manufacturing (cim) makes products untouched by human hands. Just-in-time (jit) inventory methods inventory system which goods are manufactured just in time for use. Quality/tqm emphasis on product quality because goods are produced only as needed. Total quality management (tqm) a philosophy of zero defects; all employees participate in managing quality. Activity-based costing (abc) overhead is allocated based on each products use of economic resources as it undergoes various activities (number of orders or number of machine set ups) Results in more accurate product costing and examination of all activities in value chain. Balanced scorecard a performance measurement approach to evaluate operations in an integrated fashion.
