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What is the product costing procedure used for flexible flow and line flow strategy?
flow line (engineering)
The connecting line or arrow between symbols on a flow chart or block diagram. Mark on a molded plastic or metal article made by the meeting of two input-flow fronts during molding. Also known as weld line; weld mark.
(hydrology) A contour of the water level around a body of water.
(petrology) In an igneous rock, any internal structure produced by parallel orientation of crystals, mineral streaks, or inclusions.
(petroleum engineering) A pipeline that takes oil from a single well or a series of wells to a gathering center.
Flexible manufacturing system
A factory or part of a factory made up of programmable machines and devices that can communicate with one another. Materials such as parts, pallets, and tools are transported automatically within the flexible manufacturing system and sometimes to and from it. Some form of computer-based, unified control allows complete or partial automatic operation. Flexible manufacturing systems are part of a larger computer-based technology, termed computer-integrated manufacturing (CIM), which encompasses more than the movement and processing of parts on the factory floor. See also Automation; Computer-aided design and manufacturing; Computer-integrated manufacturing.
The programmable machines and devices are numerically controlled machine tools, robots, measuring machines, and materials-handling equipment. Each programmable machine or device typically has its own controller which is, in effect, a dedicated digital computer; programs must be written for these controllers, usually in special-purpose languages designed to handle the geometry and machining. Increasingly, numerically controlled machines are being programmed by graphical presentations on computer screens, that is, graphical computer interfaces. This allows the programmer to follow the machining operation and specify desired operations without the need for statements in a programming language. Robots have usually been programmed by so-called teaching, where the robot is physically led through a sequence of movements and operations; the robot remembers them and carries them out when requested. See also Computer graphics; Digital computer; Intelligent machine; Materials-handling equipment; Programming languages; Robotics.
The programmable machines and devices communicate with one another via an electronic connection between their controllers. Increasingly, this connection is by means of local-area networks, that is, communication networks that facilitate highspeed, reliable communication throughout the entire factory.
The automatic material transport system is usually a guided, computer-controlled vehicle system. The vehicles are usually confined to a fixed network of paths, but typically any vehicle can be made to go from any point in the network to any other point. The network is different from a classical assembly line in that it is more complex and the flow through it is not in one direction.
Commands and orders to the flexible manufacturing system are sent to its computer-based, unified control. The control, in turn, issues orders for the transport of various kinds of material, the transfer of needed programs, the starting and stopping of programs, the scheduling of these activities, and other activities.
Flexible manufacturing systems are flexible in the sense that their device controllers and central control computer can be reprogrammed to make new parts or old parts in new ways. They can also often make a number of different types of parts at the same time. However, this flexibility is limited to a certain family of parts, for example, axles. A general goal for designers is to increase flexibility, and advanced flexible manufacturing systems are more flexible than the earlier ones.
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How product positioning and brandling are related to each other?
Product positioning refers to how a product is perceived in the market relative to its competitors, while branding is the process of creating a unique identity and association for a product or company. Branding plays a crucial role in defining the positioning strategy for a product by influencing consumer perceptions and preferences. A strong brand can help reinforce the desired position in the market and differentiate the product from competitors.
What is displacement selling?
Displacement selling refers to a sales strategy where a salesperson aims to shift a customer's preference from one product or brand to another that they are selling. This can involve highlighting the drawbacks of the current product or brand and emphasizing the benefits of the new one.
How do you position your product vs competitor?
We highlight our product's unique value proposition and strengths compared to competitors, showcasing its benefits and advantages. Knowing our target audience's pain points and preferences allows us to tailor our messaging to demonstrate why our product is the better choice. Continuous market research and analysis help us refine our positioning strategy to stay ahead in the competitive landscape.
What are main physical deficiencies during flexible foam production?
Main physical deficiencies during flexible foam production include uneven cell structure leading to inconsistency in foam properties, poor foam rise resulting in inadequate foam density, and improper foam curing causing variations in foam hardness. These deficiencies can impact the quality and performance of the final foam product.
What is the difference between 4 P and P4?
"4P" typically refers to the marketing mix components - product, price, place, and promotion, in business strategy. On the other hand, "P4" could refer to phosphorus - the fourth element in the periodic table.
Why do you need product costing system?
needs of product costing system
When is a job order costing system more appropriate than a process costing system?
Job order costing is more appropriate than process costing when the product being produced is a custom product
What is by product costing costing?
Product cost accuracy is a term used in the accounting field. It essentially defines the amount of money it actually costs to produce a product.
What costing method considers variable factory overhead a product cost?
variable costing
Distinction between standard costing and actual costing?
Standard costing is process of determining the standard price require to produce one unit of product while actual costing system uses the actual prices of manufacturing one unit of product.
Role of target costing?
Target costing refers to the design of a product and the processes used to produce it , so the ultimately the product can be manufactured at a cost that will enable the firm to make a profit when product is sold
Differentiate between product strategy and promotional strategy?
They can mean the same thing. Or Product Strategy is focused on the product and what objectives its meant to achieve for the user/consumer Promotional Strategy is focused on correctly Branding and promoting the product to the Target Markets.
What is the difference between target costing and life cycle costing?
In Target costing system, comapnies tries to achieve target prices by reducing those parts of activity which are not increasing the value of product. Life cycle costing is a concept in which companies tries to read the overall process of development of product life cycle and tries to minimise the cost at area where it is not required or not increase the value of product.
What is the absorption costing?
All cost associated with a particular product.
What are the differences between activity-based absorption costing system and traditional absorption costing system?
An activity-based absorption costing system defines the cost by how many activities a product unit uses. A traditional absorption costing system defines the cost by how much money went into making the product unit.
Difference between absorption and marginal costing?
marginal costing is recommended by IAS and absorption costing is not recommended by IAS,marginal costing is used for internal purposes and absorption costing is ysed for external purposes,in marginal costing the fixed production overheads are not calculated as a product cost and in absorption costing the fixed prodution overheads are calculated as product cost.
Where is activity-based costing information helpful?
ABC information is extremely helpful in the strategic analysis of areas such as process and plant layout redesign, pricing, customer values, sourcing, evaluation of competitive position, and product strategy.
