By Sachin Karadgi
This booklet describes how production companies, through reinforcing their latest tracking and regulate of producing methods, can effectively face the ever-increasing strain from inner and exterior environments to keep up their aggressive virtue. a variety of functionality size structures were elaborated to fulfill those necessities, stressing the significance of economic and operational metrics. It additionally highlights the truth that study on producing and linking monetary and operational metrics, particularly in real-time, has no longer garnered adequate awareness thus far. The e-book follows an method that integrates companies throughout assorted degrees and departments. via computing and linking the monetary and operational metrics in real-time, the publication demonstrates how one can supply a accomplished view of a whole enterprise.
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Additional info for A Reference Architecture for Real-Time Performance Measurement: An Approach to Monitor and Control Manufacturing Processes
10. This classification can be further augmented with the environmental management accounting. 36 3 Fundamentals, Concepts, Technologies and Standards Subsequently, financial-, environmental management- and managerial-accounting are elaborated in Sects. 4 respectively. 1 Cost: Definition, Types and Behavior Cost is defined as “the monetary value of resources used or sacrificed, or liabilities incurred, to achieve an objective, such as acquiring or producing a good or performing an activity or service or making resources available but not using them” .
Apart from the process corrections, efforts might be needed to invest in training of employees to realize higher performance. However, the presented research is concerned with the quantification of financial and operational metrics in real-time, and does not deal with the performance management and the corresponding action components, training of employees, and so forth. 3 Summary Manufacturing enterprises need to monitor and control their manufacturing processes to sustain a competitive advantage.
DIN EN ISO 14051—Material Flow Cost Accounting (MFCA) has been introduced to complement EMA . MFCA is based on the principle of material balance. MFCA assists in tracking the quantified flows and stocks of materials and energy within an enterprise. Additionally, the costs associated with the material flows and stocks are also quantified. MFCA is suitable to enterprises involved in manufacturing as well as service. Furthermore, the concept of MFCA can be extended to include all the enterprises across the supply chain.
A Reference Architecture for Real-Time Performance Measurement: An Approach to Monitor and Control Manufacturing Processes by Sachin Karadgi