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Economic Order Quantity (EOQ) Just in Time Inventory (JIT) Materials Requirements Planning (MRP)
receiving and storing
Deciding wether to accept it
Threat NO.2: Some vendor deceive people to increase merchandise's price, and the goods not to sales. For example: 1.increase product costs. 2.Reduce profitability and/or damages competitive position. I think these question can mitigated: 1.Purchase orders should be reviewed to be sure policies have been followed. 2.knowing market environment ,and still know the merchandise's average price, and then you can carry a merchandise.
Ordering goods, supplies, and services Receiving and storing these items Paying for these items
Order goods
Alternate Inventory Control Methods
– We will consider three alternate approaches to inventory control:
The expenditure cycle is concerned with the acquisition of fixed assets, raw materials, or manufactured components and the use of employee tabor to yield a finished product
The expenditure cycle shows that a recurring set of business activities and related information processing operations associated with the purchase, payment for goods and services. The three basic activities performed in the expenditure cycle are:
Paying for these items
Approval of the invoice
Actual payment of the invoice
The NO.1— Stockouts and/or excess fourth question Threat
inventory. For example: 1.If you run out of merchandise, you may lose sales. 2.If you carry a lot of merchandise, but the market is not very good, your merchandise maybe not to sales. I think these can mitigated: e of the perpetual inventory method. 2. Before carry merchandise, you can ask some professionals, and know some information about this market.
verify the quantity and quality of delivered goods
Three mathod can be used in the receiving and storeing Bar-coding Rfid EDI and satellite technology
The Expenditure Cycle
As was the case in the revenue cycle, this effort can be viewed as having both a physical phase and a financial phase.
The Expenditure Cycle
The Expenditure resources in order to conduct their business–to produce and sell a product or to provide a service.
The Expenditure Cycle
The Expenditure Cycle What is the expenditure cycle?
The expenditure cycle is a recurring set of business activities and related information processing operations associated with the purchase of and payment for goods and services.
Thank you for listening
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The Expenditure Cycle
Purchasing to Cash Disbursements
Overview of the expenditure cycle The flow charts of expenditure cycle Expenditure cycle activities Threats
Production cycle
The flow chart about expenditure cycle
Please wait a second, we will show it in the blackboard...............
EXPENDITURE CYCLE BUSINESS ACTIVITIES
Goods and services Invoices Vendor Purchase orders Payments Revenue cycle
Inventory control Expenditure cycle
Various department
General ledger and reporting system
