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    Financial and Managerial Accounting: Basis for Business Decision

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    Manufacturing Engineering, Inc., is a leading provider of lean manufacturing solutions.

    Visit Manufacturing Engineering's Web site at www.mfgeng.com.

    On its Web site, Manufacturing Engineering lists several categories of projects. Choose a category from the list that interests you and answer the following questions in two or three sentences each.

    What part of the value chain is targeted by the category?

    What benefits can be identified from the category?

    Do you believe target costing, activity-based management, cost of quality management, or just-in-time inventory was useful in the category you looked at? Why?

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    What part of the value chain is targeted by the category?

    The part of the value chain that is targeted by this category is productivity, inventory positioning, inventory efficiency, and supplier performance, which can be assisted by the use of benchmarking. Benchmarks are capable of assisting the organization in identifying the necessary areas within organization to prioritize their resources toward these specific areas in an effort to maximize efficiency and profits.

    What benefits ...

    Solution Summary

    Benchmarking in financial and managerial accounting is examined.