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Lean Production Impact On The Financials Of A Firm
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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 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 Financial Models and Tools for Managing Lean Manufacturing by : David Meade
Download or read book Financial Models and Tools for Managing Lean Manufacturing written by David Meade and published by Auerbach Publications. This book was released on 2006-08-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effect Lean Manufacturing programs have on profit and loss statements during the early months of their implementation often causes them to be viewed as failures. The length of time it will take traditional financial reports to reflect lean manufacturing improvements depends upon how poorly the operation was doing in terms of inventory management prior to the initiation of the lean effort. As yet, no one has put forth a set of methods for dealing with the finances and financial reporting issues dynamically during the implementation of lean practices, until now. Financial Models and Tools for Managing Lean Manufacturing provides an understanding of the impact that traditional accounting practices have on operational improvement programs. The book shows managers of supply chains how to prepare for and present the impact of Lean Manufacturing to top management and stakeholders. To illustrate the impact of lean manufacturing on the income statement, the authors present a multi-month, ExcelTM and Pro-ModelTM based manufacturing operation environment that incorporates actual sales, sales forecasts, and production results. Their text gives supply chain managers the financial skills they need to successfully manage Lean Manufacturing and its impacts. In short, the book explains how existing accounting practices have a tendency to report the results of operational improvement programs in a negative light. Other books have identified this issue but have not attempted to quantify the impact to a firm’s profit and loss nor have they shown the impact over a series of reporting periods. As a consequence, although Lean Manufacturing practices are being adopted at an ever-increasing rate, they have not been eagerly embraced by manufacturers and supply chain managers. Identifying the effects of past poor manufacturing practices that are being cleaned up by the operational improvements brought by the lean program, the book arms you with the knowledge you need to defend the lean program through the months when income statements indicate a decline in profitability.
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 Financial Models and Tools for Managing Lean Manufacturing by : David Meade
Download or read book Financial Models and Tools for Managing Lean Manufacturing written by David Meade and published by CRC Press. This book was released on 2006-08-15 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effect Lean Manufacturing programs have on profit and loss statements during the early months of their implementation often causes them to be viewed as failures. The length of time it will take traditional financial reports to reflect lean manufacturing improvements depends upon how poorly the operation was doing in terms of inventory managemen
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 2011-08-26 with total page 485 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 Accounting: A Proven System for Measuring and Managing the Lean Enterprise, Second Edition explains exactly what it takes to transform a traditional accounting system to one that supports and enhances a company’s Lean efforts. Defining the fundamental principles of Lean accounting, it demonstrates how to use them to identify and eliminate wasteful transactions. The book includes coverage of cell performance measurement, use of the box score, operational and financial planning, cost targeting, Lean accounting diagnostics, and value stream mapping. Retaining the easy-to-use format that made the first edition a bestseller, this updated edition includes: A new section on the use of value stream performance measurements in continuous improvement A re-written Target Costing chapter that emphasizes a value-based approach to the management of the Lean value system A Lean Accounting Diagnostic tool to help you assess progress and develop a plan for implementing changes Cutting-edge examples that illustrate implementation in accounting departments A CD with data from the ECI Value Stream Cost Analysis case study included in the text, Excel templates, and end-of-chapter questions with solutions The book contains a wealth of tools that makes it ideal for company training sessions and advanced undergraduate and graduate-level courses. For each major example provided, two similar problems are included—one for instructors to guide students through and a second for students to work through on their own. An additional set of problems and questions for testing purposes are also available to instructors on the authors’ website. Unfortunately, during the publishing process mistakes can be made that are not caught before the book is printed. Productivity Press takes great care to catch any errors prior to the printing stage. If any errors are found that have an effect on the understanding of a subject or mathematical equation, we have published them at: http://www.maskell.com/lean_accounting/subpages/free_stuff/PLA2%20Errors%20_Corrections_20130130.pdf
Book Synopsis The Cambridge International Handbook of Lean Production by : Thomas Janoski
Download or read book The Cambridge International Handbook of Lean Production written by Thomas Janoski and published by Cambridge University Press. This book was released on 2021-03-11 with total page 890 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook focuses on two sides of the lean production debate that rarely interact. On the one hand, management and industrial engineering scholars have presented a positive view of lean production as the epitome of efficiency and quality. On the other hand, sociology, industrial relations, and labor relations scholars focus on work speedups, management by stress, trade union positions, and self-exploitation in lean teams. The editors of this volume understand the merits of both views and present them accordingly, bridging the gaps among five disciplines and presenting the best of each perspective. Chapters by internationally acclaimed authors examine the positive, negative and neutral possible effects of lean, providing a global view of lean production while adjusting lean to the cultural and political contexts of different nation-states. As the first multi-lens view of lean production from academic and consultant perspectives, this volume charts a way forward in the world of work and management in our global economy.
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 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 Turn Waste into Wealth by : Mark C. DeLuzio
Download or read book Turn Waste into Wealth written by Mark C. DeLuzio and published by Maven House. This book was released on 2016-03-15 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cash is lying around everywhere in companies. It’s piled to the ceilings in warehouses and on shelves, hiding in plain sight as inventory. It litters administrative offices, disguised as incorrect invoices, late billings, incomplete forms, input errors, sloppy requests from salespeople. It languishes in the countless places a customer’s order can hide as it crawls from order entry to production and shipment. It sits in company lobbies waiting for sales calls to start. All that cash is retrievable, gettable, bankable – available for re-investment and dividends. Turn Waste into Wealth will help readers get that cash by turning their organizations into Lean companies. Mark DeLuzio, principle architect of the vaunted Danaher Business System that has led companies to world-class performance, presents hard-hitting tips and numerous case histories that will help readers make their companies lean. They’ll learn: Why Lean is the modern way to run any organization Eleven steps to transform your organization to a lean culture What leaders must do to insure a successful lean transformation Lean accounting practices that promote Lean behaviors The lean rules for capital expenditure decision making How to identify and deal with lean naysayers Why LEAN does not mean “Less Employees Are Needed” What and why to benchmark The kaizen rules for success The lean formula for setting prices How to deploy strategy in a lean environment And much more Great companies continuously, relentlessly improve everything they do to increase shareholder returns. For those readers new to lean or those already using Lean practices, Turn Waste into Wealth will help them make their companies great.
Book Synopsis Lean Manufacturing by : John X. Wang
Download or read book Lean Manufacturing written by John X. Wang and published by CRC Press. This book was released on 2010-08-12 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: The delivery of real bottom-line results from manufacturing improvements has proven to be much harder than expected for most companies. TQM, Zero-Defect Manufacturing, and Business Process Re-engineering have dropped off the landscape for taking much too long and failing to deliver the promised results. Lean Six Sigma is now experiencing the same f
Download or read book Lean Production written by John R. Black and published by Industrial Press Inc.. This book was released on 2008 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This newly-revised and greatly expanded volume aims to provide a readable, real-world roadmap for putting into place the indispensable strategy and tactics managers need to make lean work and move their organizations - whether manufacturing or service-based - toward a world-class production system. Drawing upon decades of experience in the front lines of lean production and organizational transformation, the author provides cases, anecdotes, examples, rationales, and concrete tools to help business leaders stop talking about lean production and actually make progress toward achieving it. It's the perfect resource for leaders at all levels who are interested in improving their competitiveness, building more successful operations, and moving toward world-class performance in customer satisfaction, profitability, and employee satisfaction."--BOOK JACKET.
Download or read book The Lean CFO written by Nicholas S. Katko and published by CRC Press. This book was released on 2013-09-16 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is not about debits, credits, or accounting theory. Instead, it describes how a chief financial officer (CFO) becomes a Lean CFO by leading a company in developing and deploying a Lean management system. The finance team, business executives, and Lean leaders will all benefit from its forward-thinking improvement approach. Explaining why the CFO role is so critical for companies adopting a Lean business strategy, The Lean CFO: Architect of the Lean Management System illustrates the process of building and integrating a Lean management system into the overall Lean business strategy. It describes why CFOs should move their companies away from performance measures based on traditional manufacturing practices and into a Lean performance measurement system. In addition, it explains how to integrate a Lean management system with a Lean business strategy to drive financial success. Describes the logic behind why a Lean management system must replace a traditional management accounting system Discusses how flow can drive the financial success of Lean Demonstrates the need for constructing a value stream capacity measurement system Explains how to break your company away from using standard costing to run your business The book explains why you must move your company into value stream accounting, which reports your internal financial information by the real profit centers of your business, your value streams. It describes the strategic aspects of making money from a Lean business strategy and also details how to modify your enterprise resource planning system to support Lean rather than hinder it.
Book Synopsis The Successful Imitation of the Japanese Lean Production System by American Firms by : Elias Sanidas
Download or read book The Successful Imitation of the Japanese Lean Production System by American Firms written by Elias Sanidas and published by . This book was released on 2001 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Supply Chains and Total Product Systems by : Ed Rhodes
Download or read book Supply Chains and Total Product Systems written by Ed Rhodes and published by John Wiley & Sons. This book was released on 2009-02-04 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: This wide-ranging reader locates supply chain management, leanproduction and related practice within the holistic concept oftotal product systems. Demonstrates the strategic relevance of managing supply chainsand supply networks to organizational performance and to a range ofbusiness functions, including finance, design, production,environmental management, information systems, and marketing. Considers sustainable supply chain management across theservice, manufacturing and process sectors. Reflects the radical changes in organizational beliefs,practices and processes that are necessary for a shift to supplychain management in contemporary, global, competitiveconditions. Considers particular issues and challenges for micro, small,and medium-sized enterprises. Contains readings that are interdisciplinary and internationalin focus.
Book Synopsis Practicing Lean Accounting by : Nick Katko
Download or read book Practicing Lean Accounting written by Nick Katko and published by . This book was released on 2021-09 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Capitalizing on Lean Production Systems to Win New Business by : Chris Harris
Download or read book Capitalizing on Lean Production Systems to Win New Business written by Chris Harris and published by CRC Press. This book was released on 2017-07-27 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although there are many organizations that have implemented Lean production systems and become more profitable as a result, there can be a gap between what those organizations currently do and how they should plan for and profit from new business. Capitalizing on Lean Production Systems to Win New Business: Creating a Lean and Profitable New Product Portfolio explains how to create a Lean product portfolio to fill that gap so you can become more profitable from that new business.Providing a fundamental understanding of the Lean enterprise production system, this book can help an organization take its current Lean knowledge and translate that knowledge into a step-by-step methodology to win and launch new business. Lean topics covered include:Value Stream MappingPlan for Every PartProcess Design and Standard WorkScheduling and Material FlowMachine ChangeoverQuality and Continuous ImprovementBy developing the New Product Acquisition and Launch Portfolio presented in this book, you can dramatically improve your ability to produce the products customers desire and deliver them on time. Focusing on the concepts that are critical to the longevity of your Lean enterprise system, this book will help you understand how to deliver a product that meets the quality and delivery standards of your customer. It will also help you understand how this new product fits into your Lean enterprise system.Detailing how to achieve a successful new product launch through upfront planning, this book provides you with the tools to enhance efficiencies throughout your supply chain.
