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Modern Accounting Techniques: Lean Manufacturing

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What is lean manufacturing and its effect in accounting?
Refer to http://www.lean.org/whatslean/

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By employing 'lean thinking', lean manufacturing involves doing more with fewer resources. Lean manufacturing involves continuous efforts to reduce or eliminate waste in product designing, production, distribution, and, in the process of, consumer service. It focuses on using efficiency in adding value for the customer.

The first step in the lean manufacturing process is considering the aspects of the product that add value to the ...

Solution Summary

This response looks at lean manufacturing and the effects it plays in accounting.