Techniques in inventory management and control
Article Abstract:
The National Association of Accountants (NAA) surveyed 351 management accountants in a cross-section of industries to assess current inventory management practices in the U.S. The survey, with its 25 percent response rate, indicated that: just-in-time inventory management techniques are increasing in popularity, as are automated time-phased inventory re-order systems (used by 72 percent of manufacturing companies and 48 percent of service firms). These were the two most significant changes in inventory management since the last NAA survey conducted in 1964. Other trends noted by the survey are: that 85 percent of respondents have no plans to change their inventory controls; that inventory turnover statistics are the most popular method of stating inventory performance (followed by dollar totals of obsolete inventory); that actual business experience is relied upon more than inventory quantitative models; and that some inventory management concepts considered basic by academicians (such as assessing service levels, and balancing stock-out costs against expenses related to higher inventory levels) are seldom used in practice.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1987
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Management accounting: manufacturing in transition - the turning point for cost management practice
Article Abstract:
The failure of the factory of the future to develop is due to sluggish manufacturing management, modest and piecemeal investments in the area, and a short-term financial orientation on the part of top company management. Manufacturing has not been provided with the right equipment, systems, technology, and tools to effect change. Change need not take the form of extensive and complex automation. Sometimes low-capital-intensive solutions involving people rather than computer-power have proven to be equally effective.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1987
User Contributions:
Comment about this article or add new information about this topic:
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