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Production Cycle - Coggle Diagram
Production Cycle
Product Design
Process
Operations list
PLM software
Bill of materials
Threats
Too many components in the same product- costs in purchasing raw materials + inefficient production
Poor product design - more costs
Controls
Analysis of warranty and repair costs
Accounting analysis of costs arising from product design choices
Planning and Scheduling
Threats
Overproduction
Unterproduction
Controls
Production planning systems
Proper approval and authorization of orders
Process
Lean manufacturing
Master production schedule
Manufacturing resource process
Production order
Materials requisition
Production Operations
Threats
Theft of inventories
Poor performance
Overi under- investing in assets
Controls
Restricted access to inventory
Segregation of duties
Physical counts
Safeguard fixed assets
Training (surveys, coaching)
Authorization of transactions
Process
Computer-integrated manufacturing
Cost Accounting
Threats
Inappropriate allocation of overhead costs
Inaccurate cost data
Misleading reports
Process
Job-order costing
process costing
manufacturing overhead costs - accountants should control it
Controls
Data processing integrity control
Source data automation
Time-driven activity-based costing
Innovative performance metrics