Following are three separate events affecting the managerial accounting systems for different companies.?
Match the management concept(s) that the company is likely to adopt for the event identified. There is some overlap in the meaning of customer orientation and total quality management and, therefore, some responses can include more than one concept.
Event
_______ 1. The company starts measuring inventory turnover and discontinues elaborate
inventory records. Its new focus is to pull inventory through the system.
_______ 2. The company starts reporting measures on customer complaints and product
returns from customers.
_______ 3. The company starts reporting measures such as the percent of defective products and the number of units scrapped.
Management Concept
a.Total quality management (TQM)
b. Just-in-time (JIT) system
c. Continuous improvement (CI)
d. Customer orientation (CO)
Event => Concept
““““ “““““““““““
1 Just-In-Time
http://en.wikipedia.org/wiki/Just_In_Time_(business)#Implementation
2 Total Quality Managent
http://en.wikipedia.org/wiki/Total_quality_management
3 Continuous Improvement
http://en.wikipedia.org/wiki/Continuous_improvement
Customer Orientation applies to all three events
Keep in mind, in a Just In Time inventory system, you will still need to track the quantity of items in inventory, but, the focus will change from:
"how many of these things do we have?"
to
"how many of these things do we need right now?"