The below figure differentiate the terminology between BPC 7. The environment can be described as a functional area designed to include the applications or models associated with a segment of the business.
Demand in any period that is outside the limits established by management policy. This demand may come from a new customer or from existing customers whose own demand is increasing or decreasing. Care must be taken in evaluating the nature of the demand: Is it a volume change, is it a change in product mix, or is it related to the timing of the order?
In cost management, an approach to inventory valuation in which variable costs and a portion of fixed costs are assigned to each unit of production. The fixed costs are usually allocated to units of output on the basis of direct labor hours, machine hours, or material costs.
A Canada Customs system to speed the release of shipments by allowing electronic transmission of data to and from Canada Customs 24 hours a day, 7 days a week.
In quality management, when a continuing series of lots is considered, AQL represents a quality level that, for the purposes of sampling inspection, is the limit of a satisfactory process average. In quality management, a specific plan that indicates the sampling sizes and the associated acceptance or non-acceptance criteria to be used.
In quality management, 1 A number used in acceptance sampling as a cut off at which the lot will be accepted or rejected. For example, if x or more units are bad within the sample, the lot will be rejected.
The entire lot may be accepted or rejected based on the sample even though the specific units in the lot are better or worse than the sample. There are two types: In attributes sampling, the presence or absence of a characteristic is noted in each of the units inspected. In variables sampling, the numerical magnitude of a characteristic is measured and recorded for each inspected unit; this type of sampling involves reference to a continuous scale of some kind.
A carrier's ability to provide service between an origin and a destination. A carrier's charge for accessorial services such as loading, unloading, pickup, and delivery, or any other charge deemed appropriate. Being answerable for, but not necessarily personally charged with, doing specific work.
Accountability cannot be delegated, but it can be shared. For example, managers and executives are accountable for business performance even though they may not actually perform the work.
The value of goods and services acquired for which payment has not yet been made.
The value of goods shipped or services rendered to a customer on whom payment has not been received. Usually includes an allowance for bad debts. Certification by a recognized body of the facilities, capability, objectivity, competence, and integrity of an agency, service, operational group, or individual to provide the specific service or operation needed.
A committee of ANSI chartered in to develop uniform standards for the electronic interchange of business documents. A place, usually a physical location, used to accumulate all components that go into an assembly before the assembly is sent out to the assembly floor.Active Planning is a dynamic and pro-active budgeting process that is collaborative, comprehensive, and continuous.
An active planning process provides greater visibility into business performance, builds confidence in the numbers, enables data-driven decisions, and increases buy-in and accountability throughout an organization.
Definition of consolidation: Accounting: (1) Combining assets, equity, liabilities and operating accounts of a parent firm and its subsidiaries into one financial statement. See also consolidated financial statement.
Glossary – Planning Budgeting and Forecasting. Performance Canvas is the suite of products, written by DSPanel in Sweden, that perform planning, consolidation, (Gartner, industry standard definition) Planning software Applications specifically designed to support budgeting.
GLOSSARY OF STRATEGIC MANAGEMENT TERMS Acquisition: When one company, the acquirer, purchases and absorbs the operations of another, the Consolidation: The merger of business units and/or property portfolios. Three approaches to strategic planning based on different fundamental ideas about how to appeal to the customer.
See Low Cost. Debt Consolidation The process of merging multiple debt repayments into a single payment by using a debt repayment program or plan.
Typically, these kinds of plans are often created and provided by a debt consolidation service. Business consolidation is the combination of several business units or several different companies into a larger organization.
Business consolidation is used to improve operational efficiency by reducing redundant personnel and processes.