This is the twelfth in a series of essays that addresses management topics. The first ten explored “hot button” issues; the next ten satirize management “buzzwords.” I base these essays on countless provocative lectures and irreverent discussions as a nutty professor of Business Administration. In a previous essay, I examined the buzzwords “system” and “synergy.” ...
If you find this article helpful, you may wish to read the article titled Joint Product Costing. Introduction Cost accounting focuses on preparing, analyzing, and reporting information related to the cost of obtaining and using company resources. This article provides an overview of cost accounting and the tasks performed by cost accountants. Included will be ...
ERP (enterprise resource planning) is software used to streamline, or automate, a company’s data processing operation. This is accomplished by integrating the company’s data and processes into one system. SAP is Systems applications and products in data processing. Five former IBM employees founded SAP in 1972. SAP’s headquarters are in Waldorf, Germany, located approximately 65 ...
The Supply Chain Management (SCM) framework is based on a functional model of the SCM system. It is a development tool that assists in the development of a well-integrated SCM system in an organization. The framework consists of several components that define key functions, processes, and best practices. Organizational behaviors like SCM enablers support the ...
In the beginning, there was life. It consisted of man, of animal, and of plant, intertwining them in a world which protected their offspring, nourished their habitats, helped them thrive, and sustained their future. Each animal had his place, each plant had its purpose, and each man had his sense of belonging within the system. ...