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Lean Manufacturing Non Financial Performance Measures And Financial Performance
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Book Synopsis Lean Manufacturing, Non-Financial Performance Measures, and Financial Performance by : Rosemary Fullerton
Download or read book Lean Manufacturing, Non-Financial Performance Measures, and Financial Performance written by Rosemary Fullerton and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last 30 years, many U.S. firms have adopted lean manufacturing strategies. Despite evidence of variation in firms' success with lean strategies, few studies have examined firms' management accounting systems (MAS) as a potential source of the variation. This study uses structural equation modeling to examine whether one MAS component - the use of non-financial manufacturing performance (NFMP) measures - mediates the relationship between lean manufacturing and financial performance. Consistent with the view that firms' MAS must fit their operational strategies, the results indicate that lean strategies' financial performance effects are indeed mediated through the utilization of NFMP measures. The study also reports confirming results from regression-based tests examining the mediating role of the use of NFMP measures in the lean manufacturing/financial performance relationship.
Book Synopsis Financial Consequences from Implementing Lean Manufacturing with the Support of Non-Financial Management Accounting Practices by : Rosemary Fullerton
Download or read book Financial Consequences from Implementing Lean Manufacturing with the Support of Non-Financial Management Accounting Practices written by Rosemary Fullerton and published by . This book was released on 2006 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last 30 years, many U.S. firms have adopted lean manufacturing strategies. Despite evidence of substantial variation in firms' success with JIT, TQM, and other lean strategies, relatively few studies have examined management accounting practices as a potential source of such variation. Using structural equation modeling, this study examines two advanced management accounting practices - benchmarking and the use of non-financial manufacturing performance measures - as potential mediators of financial performance in lean manufacturing environments. Consistent with the view that firms' management accounting systems must fit their operational strategies, our structural model indicates that lean strategies' financial performance effects are enhanced when non-financial manufacturing performance measures and benchmarking are included in a firm's management accounting system.
Book Synopsis Non-Financial Performance Measurement and Management Practices in Manufacturing Firms by : Ahmed B. Abdel-Maksoud
Download or read book Non-Financial Performance Measurement and Management Practices in Manufacturing Firms written by Ahmed B. Abdel-Maksoud and published by JAI Press Incorporated. This book was released on 2007-08-02 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a framework for exploring the relationships between the measurement of non-financial performance at the shop-floor of manufacturing firms across four different countries (UK, Italy, Japan, and Canada) and a range of twenty-eight contingent factors incorporating technological, managerial, organisational and environmental factors.
Book Synopsis Lean Manufacturing Management by : Eric Oscar Olsen
Download or read book Lean Manufacturing Management written by Eric Oscar Olsen and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The relationship between lean manufacturing management practices and business financial performance is examined through the use of empirical surveys and archival accounting data from Compustat and stock return data from CRSP. A sample frame of small to medium sized discrete product and process manufacturing companies reporting participation in only one four-digit SIC was identified as the sample frame. The five-year (1998-2002) financial performance for these companies was analyzed at the operations and business levels using a median z-score comparing median firm performance with the median performance of a matched portfolio of firms. Operations measures included asset and employee productivity, gross margin ratio and two measures of aggregate cycle time. Business measures included return on equity (ROE), sales growth, and stock return. A web-based survey was used to collect data on seven lean practices including just-in-time production management, statistical process control, total productive maintenance, group technology, employee involvement, supplier communication, and customer involvement. Forty-two responding firms were classified as being either lean or non-lean based on a cluster analysis of factor scores. The results demonstrated that lean practices act as a synergistic, mutually supportive set rather than linearly additive individual practices in affecting operations financial performance. Lean classification was associated with better total and cash-to-cash cycle times, but was not related to either better or worse asset or employee productivity. Lean firms also tended to have narrower grow margins than non-lean firms. With respect to business level performance, lean firms tend to have better ROE, but no relationship was found with respect to either stock return or sales growth. Of all the lean practices tested only employee involvement demonstrated a significant relationship to business level performance. Firms with high ROE tend to have high employee involvement. A literature review topology is presented to demonstrate the need for studies combining empirical survey data and archival measures of performance. Opportunities for future research are outlined.
Book Synopsis Practical Lean Accounting by : Brian H. Maskell
Download or read book Practical Lean Accounting written by Brian H. Maskell and published by CRC Press. This book was released on 2017-07-27 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: The methods and concepts presented in the bestselling first edition revolutionized the approach to the management and control of Lean companies. Enhanced with extensive end-of-chapter exercises and a CD-ROM with Lean accounting tools, the second edition of this preeminent practitioner‘s guide is now suitable for classroom use. Practical Lean Accoun
Book Synopsis An Examination of the Relationship Among World-Class Manufacturing Practices, Non-Financial Performance Measures, and Firm Profitability by : Rosemary Fullerton
Download or read book An Examination of the Relationship Among World-Class Manufacturing Practices, Non-Financial Performance Measures, and Firm Profitability written by Rosemary Fullerton and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: World-class manufacturing (WCM) emphasizes excellence through lean production practices of continuous improvement and is incorporated within the broad definitions of just-in-time (JIT) and total quality management (TQM). Increased profitability from implementation of these practices is generally assumed, yet empirical studies examining WCM practices and firm profitability report mixed results. One reason suggested for the lack of reported improved firm performance is the deficiency of management accounting systems to reflect appropriately operational improvements. This research examines whether the use of JIT and TQM, in conjunction with the use of non-financial performance tools for evaluating these practices, affects firm profitability. The survey data provide empirical evidence that investments in WCM practices of JIT and TQM, coupled with the complementary use of non-financial performance measurement tools, such as benchmarking and tracking manufacturing efficiency, contribute to higher financial performance.
Book Synopsis Lean Production. Impact on the Financials of a Firm by : Tobias Oden
Download or read book Lean Production. Impact on the Financials of a Firm written by Tobias Oden and published by GRIN Verlag. This book was released on 2023-03-10 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2012 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, Durham University, language: English, abstract: The starting point for this dissertation is the assumption that implementing lean production in an operation leads to an increase in productivity, enhances quality, shortens lead times, and reduces costs. As a result of these single improvements a superior competitive position is achieved. Based on a literature review that compares several approaches to define lean production, a two staged concept is developed that comprises ten different practices of lean production. These practices are linked with ten performance indicators, which are grouped into three different perspectives: shareholder, cost, and process perspective. The assumption that the lean production practices have an impact on the performance measures is tested with a questionnaire. In total 76 respondents delivered the data to test the 100 links between lean production and performance. The results show that lean production implementation has a measurable impact on the performance parameters and a weaker impact on the cost perspective measures. The results are supported by previous findings that show equivocal results regarding the impact on measures, like "Return on Sales".
Book Synopsis Measuring the Impact of Lean Techniques on Performance Indicators in Logistics Operations by : Dehdari, Payam
Download or read book Measuring the Impact of Lean Techniques on Performance Indicators in Logistics Operations written by Dehdari, Payam and published by KIT Scientific Publishing. This book was released on 2014-03-25 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several in-depth studies have verified the positive impact of lean techniques on performance indicators in production environments. Studies performed on warehouse environments have partially confirmed this. This thesis helped to close the gap between the disparities in the level of evidence mentioned above. A study was conducted that included 16 warehouses in an observation group and 56 warehouses in a control group. These significant results help close the gap in the evidence.
Book Synopsis Performance Measurement for World Class Manufacturing by : Brian H. Maskell
Download or read book Performance Measurement for World Class Manufacturing written by Brian H. Maskell and published by CRC Press. This book was released on 1991-07-01 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: If your company is adopting world class manufacturing techniques, you'll need new methods of performance measurement to control production variables. In practical terms, this book describes the new methods of performance measurement and how they are used in a changing environment. For manufacturing managers, as well as cost accountants, it provides the theoretical foundation for these innovative methods and is supported by extensive practical examples.
Book Synopsis The Adoption of Lean Operations and Lean Accounting on the Financial-performance Measures of Publicly Traded Companies by : Daniel Carl Harris
Download or read book The Adoption of Lean Operations and Lean Accounting on the Financial-performance Measures of Publicly Traded Companies written by Daniel Carl Harris and published by . This book was released on 2012 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: For fiscal years 2008 through 2010, manufacturers and service providers that adopted lean operations outperformed companies that did not adopt lean operations. Using non-parametric tests and a matched-pairs design, lean companies had greater returns on both net operating assets (RNOA) and total assets (ROA). Lean companies also experienced better operating cash flows and cash adequacy than non-lean companies. The profit margins and financing-assets ratios were marginally better for lean companies than non-lean companies. Several working-capital measures, however, were not significantly different. Lean companies also experienced higher total-inventory turnover and raw-materials inventory turnover than non-lean companies. Although work-in-process inventory turnover did not differ significantly between the two groups, the test for that hypothesis contained the fewest number of matched pairs due to fewer companies reporting values for work-in-process. Lean companies experienced lower days'-sales in inventory and marginally higher finished-goods inventory turnover than non-lean companies.
Book Synopsis Lean Manufacturing and Six Sigma by : Fausto Pedro García Márquez
Download or read book Lean Manufacturing and Six Sigma written by Fausto Pedro García Márquez and published by BoD – Books on Demand. This book was released on 2020-02-14 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lean Manufacturing, also called lean production, was originally created in Toyota after the Second World War, in the reconstruction period. It is based on the idea of eliminating any waste in the industry, i.e. any activity or task that does not add value and requires resources. It is considered in every level of the industry, e.g. design, manufacturing, distribution, and customer service. The main wastes are: over-production against plan; waiting time of operators and machines; unnecessary transportation; waste in the process itself; excess stock of material and components; non value-adding motion; defects in quality. The diversity of these issues will be covered from algorithms, mathematical models, and software engineering by design methodologies and technical or practical solutions. This book intends to provide the reader with a comprehensive overview of the current state, cases studies, hardware and software solutions, analytics, and data science in dependability engineering.
Book Synopsis Company Success in Manufacturing Organizations by : Ana M. Ferreras
Download or read book Company Success in Manufacturing Organizations written by Ana M. Ferreras and published by CRC Press. This book was released on 2017-08-03 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past, company success was typically measured by financial indicators. Lately though, non-financial measures such as employee morale have become popular. Although there are approaches that look into quantitative and qualitative performance measures affecting company success, none of them characterize it in a holistic way, combining all the critical performance measures. This book presents a multifaceted approach that prepares engineers and future organizational leaders/managers to measure, monitor, and predict company success in a more meaningful way.
Book Synopsis Lean Accounting by : Brian H. Maskell
Download or read book Lean Accounting written by Brian H. Maskell and published by . This book was released on 2007-09 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Lean Management Of Global Supply Chain by : Yasuhiro Monden
Download or read book Lean Management Of Global Supply Chain written by Yasuhiro Monden and published by World Scientific. This book was released on 2015-08-24 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first among many books in supply chain management, which provides the readers with insights on how to select the best global supply chain out of inter-firm network, fables system or market firms. This process is clearly expounded in the book through case studies, which include Apple, Toyota, BMW, IKEA and Taiwan TSMC. The main editor, Prof Yasuhiro Monden, is the founding father of Lean Production Management who published Toyota Production System from IIE in 1983, which is called the classic of Lean System. This book will explain how the global supply chain (GSC) could be organized by considering causal relationships of the stage differences in (1) market needs, (2) product design architecture, and (3) product life-cycle, for the purpose of reducing the total costs of GSC.
Book Synopsis Establishment of Non-financial Performance Measures in Medium to Large-sized Manufacturing Organisations Consistent with World Class Manufacturing Objectives by : G. M. D. Medori
Download or read book Establishment of Non-financial Performance Measures in Medium to Large-sized Manufacturing Organisations Consistent with World Class Manufacturing Objectives written by G. M. D. Medori and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Lean Business Guidebook by : MJS Bindra
Download or read book The Lean Business Guidebook written by MJS Bindra and published by CRC Press. This book was released on 2022-06-07 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces a powerful system that explains how to run a company with a focus on continuous improvement. The results are a satisfied customer base, evolving products and an increase in revenue and profits. These factors determine the success for any company because business transformation involves making fundamental changes in how business is conducted to cope with shifts in the market environment. This a comprehensive book for valuable guidance on framing strategy and overcoming challenges for successful and sustainable implementation of a lean production system, daily management system and lean accounting system in companies to empower the managers to serve their customers with timely delivery of quality products while maximizing profits and easing workloads. The main challenge is ensuring operations colleagues in different functions understand the link between their daily work and the profit and loss statement. In addition, it illustrates how finance personnel can assist the operations team and be a part of the transformation journey. This book is not meant to impart theoretical knowledge of the lean production system, daily management and lean accounting, as there are many books already available that focus on the methodology instead of the implementation. This book empowers people in each function of a company, irrespective of which level they work in the company, and shows them the way to operate on a daily basis to achieve the company's strategy while simultaneously fulfilling their career goals. The book lays out a brief history of the evolution of lean concepts with a focus on lean accounting. This book guides the successful implementation and sustenance of lean and kaizen tools and provides answers to the questions: Who should lead the lean and kaizen implementation in the company? Where should the lean and kaizen journey begin? Which lean and kaizen tools should be implemented first? How important is capacity for the company? How much current capacity is wasted and how much free capacity is available? Where exactly are the resources being wasted in the company? How can the company reduce waste to release capacity for more production? Why should the daily management system and lean accounting system be implemented simultaneously with the lean production system? Why must managers understand the monetary value of their daily activities? Is there an easy way of making a profit and loss statement that is understood at each level in the company? Why is one-day closing of accounts important and how can it be done?
Book Synopsis Advances in Production Management Systems. Smart Manufacturing for Industry 4.0 by : Ilkyeong Moon
Download or read book Advances in Production Management Systems. Smart Manufacturing for Industry 4.0 written by Ilkyeong Moon and published by Springer. This book was released on 2018-08-24 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: The two-volume set IFIP AICT 535 and 536 constitutes the refereed proceedings of the International IFIP WG 5.7 Conference on Advances in Production Management Systems, APMS 2018, held in Seoul, South Korea, in August 2018. The 129 revised full papers presented were carefully reviewed and selected from 149 submissions. They are organized in the following topical sections: lean and green manufacturing; operations management in engineer-to-order manufacturing; product-service systems, customer-driven innovation and value co-creation; collaborative networks; smart production for mass customization; global supply chain management; knowledge based production planning and control; knowledge based engineering; intelligent diagnostics and maintenance solutions for smart manufacturing; service engineering based on smart manufacturing capabilities; smart city interoperability and cross-platform implementation; manufacturing performance management in smart factories; industry 4.0 - digital twin; industry 4.0 - smart factory; and industry 4.0 - collaborative cyber-physical production and human systems.
