The Principles of Just in Time JIT

by | Oct 11, 2024 | Bookkeeping

However, this approach comes with significant costs for purchasing and maintaining that inventory. Going forward, manufacturers will likely need to find a balance between JIT and JIC manufacturing to effectively control overhead, while minimizing supply chain risks....

What is business process reengineering?

by | Dec 27, 2023 | Bookkeeping

The good news is that modern project management software can help you automate most of these activities. Once you identify a process you can improve, you should find which process steps you can potentially automate. This way, you can repurpose that otherwise wasted...

Contribution margin ratio definition

by | Oct 13, 2023 | Bookkeeping

Albumin is typically found in the blood, performing essential tasks like maintaining blood volume and regulating blood pressure. However, sometimes, a small amount of albumin can find its way into the urine. This occurrence hints at a potential issue – when kidneys...