How to assure your quality initiative really pays off

Article Abstract:

Quality programs often fail because they are unable to excite the employees, the customers and the owners of the organization. Companies lacking such excitement are devoid of the kind of energy that breeds the spirit of continuous renewal and innovation. Employee excitement is manifested in the active involvement of employees in efforts to achieve the objectives of the quality initiatives. Customer excitement is created when the organization understands and meets consumer demands. This can be done by listening to customers, promptly responding to their demands and anticipating their needs in the future. Owner excitement is achieved when the company has succeeded in identifying the benefits, both financial and nonfinancial, that company owners consider important. The experience of Container Corp of America's Renton plant in creating employee, customer and owner satisfaction is recounted.

Corrugated and solid fiber boxes, Folding paperboard boxes, Quality management, Quality control, Container industry, Organizational effectiveness, Container Corporation of America

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Avoiding inventory "shrinks."

Article Abstract:

A physical inventory may uncover a surprising loss, referred to as an inventory 'shrink.' The most common explanation for such an occurrence is the failure to recognize phenomena that are captured by the perpetual inventory system but not relayed to the financial management functions and which should be accounted for as operating variances in the accounting systems. To explain further, an inventory 'shrink' exists when there is a substantial discrepancy between perpetual-to-physical variance and book-to-physical variance. Inventory discrepancies are most commonly found in seven areas: scrap, work order variances, closed work order variances, substitutions/part number changes, vendor returns against closed purchase orders, closed purchase order issue variances, and customer returns.

Inventory Control, Accounting and auditing, Inventories, Inventory accounting

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Are You Really Managing Your Inventory?

Article Abstract:

Economic order quantity (EOQ) models are not being used as much as one would expect. Personal computers can simplify the necessary calculations that increase the flexibility of EOQ. Analysis may show that inventories are good places to put excess cash to work. Substantial returns on incremental investments may be possible through increased order size. Formulas are included.

Inventory Control

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