An activity dictionary can include information about an activity and/or strange its relationships, such as activity description, business process, function source, whether value added, inputs, outputs, supplier, customer, output measures, cost drivers, attributes, tasks, and other information as desired to describe the activity. Activity Driver: The best single quantitative measure of the frequency and intensity of the demands placed on an activity by cost objects or other activities. It's used to assign activity costs to cost objects or to other activities. Activity level: A description of types of activities dependent on the functional area. Product-related activity levels may include unit, batch, and product levels. Customer-related activity levels may include customer, market, channel, and project levels. Activity ratio: A financial ratio used to determine how an organization's resources perform relative to the revenue the resources produce. Activity ratios include inventory turnover, receivables conversion period, fixed-asset turnover, and return on assets. Actual Cost System: A cost system that collects costs historically as they are applied to production, and allocates indirect costs to products based on the specific costs and achieved volume of the products.
Activity-based Costing Model: In activity-based cost accounting, a model, by time period, of resource costs created because of activities related to products or services or other items causing the activity to be carried out. Activity-based Costing System: A set of activity-based cost accounting models that collectively defines data on an organization's resources, activities, drivers, objects, and measures. Activity-based Management (abm a discipline focusing on the management of activities within business processes as writing the route to continuously improve both the value received by customers and the profit earned in providing that value. Amb uses activity-based cost information and performance measurements to influence management action. Activity-based Planning (abp activity-based planning (ABP) is an ongoing process to determine activity and resource requirements (both financial and operational) based on the ongoing demand of products or services by specific customer needs. Resource requirements are compared to resources available and capacity issues are identified and managed. Activity-based budgeting (ABB) is based on the outputs of activity-based planning. Activity dictionary: A listing and description of activities that provides a common/standard definition of activities across the organization.
An activity analysis is accomplished by means of interviews, group sessions, questionnaires, observations, and reviews of physical records of work. Activity-based Budgeting (abb an approach to budgeting where a company uses an understanding of its activities and driver relationships to quantitatively estimate workload and resource requirements as part of an ongoing business plan. Budgets show the types, number of, and cost of resources that activities are expected to consume based on forecasted workloads. The budget is part of an organization's activity-based planning process and can be used in evaluating its success in setting and pursuing strategic goals. Activity-based Costing (abc a methodology that measures the cost and performance of cost objects, activities, and resources. Cost objects consume activities and activities consume resources. Resource costs are assigned to activities based on their use of those resources, and activity costs are reassigned to cost objects (outpputs) based on the cost objects proportional use of those activities. Activity-based costing incorporates causal relationships between cost objects and activities and between activities and resources.
Action Message: An alert that an mrp or drp system generates to don inform the controller of a situation requiring his or her attention. Active stock: goods in active pick locations and ready for order filling. Activity: Work performed by people, equipment, technologies, or facilities. Activities are usually described by the action-verb-adjective-noun grammar convention. Activities may occur in a linked sequence and activity-to-activity assignments may exist. (1) In activity-based cost accounting, a task or activity, performed by or at a resource, required in producing the organization's output of goods and services. A resource may be a person, machine, or facility.
Activities are grouped into pools by type of activity and allocated to products. (2) In project management, an element of work on a project. It usually has an anticipated duration, anticipated cost, and expected resource requirements. Sometimes major activity is used for larger bodies of work. Activity Analysis: The process of identifying and cataloging activities for detailed understanding and documentation of their characteristics.
For example, the registrar Accreditation board accredits those organizations that register companies to the iso 9000 Series Standards. Accredited Standards Committee (asc a committee of ansi chartered in 1979 to develop uniform standards for the electronic interchange of business documents. The committee develops and maintains us generic standards (X12) for Electronic Data Interchange. Accumulation Bin: A place, usually a physical location, used to accumulate all components that go into an assembly before the assembly is sent out to the assembly floor. Accuracy: In quality management, the degree of freedom from error or the degree of conformity to a standard. Accuracy is different from precision.
For example, four-significant-digit numbers are less precise than six-significant-digit numbers; however, a properly computed four-significant-digit number might be more accurate than an improperly computed six-significant-digit number. Acd: see automated Call Distribution. Acknowledgement: A communication by a supplier to advise a purchaser that a purchase order has been received. It usually implies acceptance of the order by the supplier. Acquisition Cost: In cost accounting, the cost required to obtain one or more units of an item. It is order quantity times unit cost.
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Accountability: being answerable for, but not necessarily personally charged with, doing specific work. Accountability cannot be delegated, but it can be shared. For example, managers and executives are accountable for business performance even though they may not actually perform the work. Accounts payable (A/p the value of goods and services acquired for which payment has not yet been made. Accounts Receivable (A/r the value of goods shipped or services rendered to a customer on whom payment has not been received. Usually includes an allowance for bad debts. Accreditation: Certification by a recognized body of the facilities, capability, objectivity, competence, and integrity of an agency, service, operational group, or individual to provide the specific service write or operation needed.
Acceptance sampling: 1) The process of sampling a portion of goods for inspection rather than examining the entire lot. The entire lot may be accepted or rejected based on the sample even though the specific units in the lot are better or worse than the sample. There are two types: attributes sampling and gordon variables sampling. In attributes sampling, the presence or absence of a characteristic is noted in each of the units inspected. In variables sampling, the numerical magnitude of a characteristic is measured and recorded for each inspected unit; this type of sampling involves reference to a continuous scale of some kind. 2) A method of measuring random samples of lots or batches of products against predetermined standards. Accessibility: A carrier's ability to provide service between an origin and a destination. Accessorial Charges: A carrier's charge for accessorial services such as loading, unloading, pickup, and delivery, or any other charge deemed appropriate.
to inventory valuation in which variable costs and a portion of fixed costs are assigned to each unit of production. The fixed costs are usually allocated to units of output on the basis of direct labor hours, machine hours, or material costs. Accelerated Commercial Release Operations Support System (across a canada customs system to speed the release of shipments by allowing electronic transmission of data to and from Canada customs 24 hours a day, 7 days a week. Acceptable quality level (aql in quality management, when a continuing series of lots is considered, aql represents a quality level that, for the purposes of sampling inspection, is the limit of a satisfactory process average. Acceptable sampling Plan: In quality management, a specific plan that indicates the sampling sizes and the associated acceptance or non-acceptance criteria to be used. Also see: Acceptance sampling. Acceptance number: In quality management, 1) A number used in acceptance sampling as a cut off at which the lot will be accepted or rejected. For example, if x or more units are bad within the sample, the lot will be rejected. 2) The value of the test statistic that divides all possible values into acceptance and rejection regions.
The c-class contains 60 to 70 of the items, and represents about 10 to 30 of the dollar volume. Abc costing: see activity-based Costing (ABC) abc inventory control: An inventory control approach based on the abc volume or sales revenue classification of products (A items are highest volume or revenue, c - or perhaps d - are lowest volume skus.) abc model: In cost. Abc system: In cost management, a system that maintains financial and operating data on an organization's resources, activities, drivers, objects and measures. Abc models are created and maintained within this system. Abi: * see automated Broker Interface (ABI) abm: see activity-based Management (ABM). Abp: see activity-based Planning (ABP). Abnormal Demand: Demand in any period that is outside the limits established by management essay policy. This demand may come from a new customer or from existing customers whose own demand is increasing or decreasing.
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And just what is, poka yoke, anyway? Inbound Logistics' glossary of transportation, logistics, supply chain, and international trade terms help. A, b c, d e, f g, h i, j k,. N o, p q, r s, t u, v w x y bc analysis: A classification of items in an reviews inventory according to importance defined in terms of criteria such as sales volume and purchase volume. Abc classification: Classification of a group of items in decreasing order of annual dollar volume or other criteria. This array is then split into three classes called a, b, and. The a group represents 10 to 20 by number of items, and 50 to 70 by projected dollar volume. The next grouping, b, represents about 20 of the items and 20 of the dollare volume.