A new culture for pearl
Article Abstract:
UK-based Pearl Assurance PLC is in the middle of a strategic and cultural reorganization. Among the measures taken by the financial services company, recently bought by the Australian Mutual Provident Society, were the transfer of headquarters from London to Petersborough, the introduction of several initiatives to make management more efficient, and the investment on a financial system. Pearl wants an information technology that can provide timely and accurate management information, is flexible, can cope with the company's future demands, and can continue to be useful as the firm grows. The company is interested in four applications: general ledger, accounts payable, purchase order processing and fixed assets. Its final goal is to make information easily accessible to add value to the business.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Stock control: the management consultant's view
Article Abstract:
Optimized stock control techniques can be developed, but the methods require the cooperation of management accountants and outside consultants, and the use of scientific management methods. Using scientific methods, inventory can be divided into the stages of: goods arrival; pre-work-in-progress stores; work-in-progress stages; and finished goods. Inventory turnover can be calculated using the ratio of cost of goods sold to stock, instead of sales to stock. Evaluating stock values and work-in-progress values can be accomplished by careful consideration of services and materials not directly related to the cost of goods sold. Over- and under-stocking can be controlled to minimize stocks on hand without damaging customer relations.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
User Contributions:
Comment about this article or add new information about this topic:
IT assisted resource planning
Article Abstract:
Information technology based materials requirements planning (MRP) and manufacturing resource planning (MRP II) can reduce stock to the minimum necessary to deliver orders and to improve customer service. Successful MRP and MRP II systems involve senior management support and a sizable financial investment. When selecting a system managers should be careful to select a system that meets their exact needs because future software developments and hardware updates can be expensive. A well designed system can: reduce inventory costs; reduce production costs; decrease delivery times; increase the accuracy of target delivery dates; produce tighter financial controls; and improve capacity planning.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Accounting for the control of doctors: management information systems in hospitals. Budget in a cold climate
- Abstracts: Minimal disclosure hampers assessment. The role of the actuary in investment strategy
- Abstracts: Best practice: a technique for reducing costs. Controlling the late payment curse. Ground control
- Abstracts: A sideways glance at a forward look. Goodwill - the case against ED 47
- Abstracts: Loss limits for dwellings apply to co-op apartments. Excess assessments taxable to condo management co. Cooperative and condominium ownership offers benefits to associations and owners