DocumentCode
2757956
Title
Huge cost savings upon financial system in manufacturing
Author
Li, Michael
Author_Institution
Quality Dept., Multi-Fineline Electronix Co., Ltd., Suzhou, China
fYear
2010
fDate
2-5 June 2010
Firstpage
1198
Lastpage
1203
Abstract
There are many methodologies aiming at how to make huge cost savings, in the world. However, since these methodologies are not upon the financial system in manufacturing, the huge costs saved are not payable by banks. A new methodology is proposed herewith, which is strictly upon financial system in manufacturing, and therefore, the huge costs saved are payable by banks anytime, anywhere. Also, some critical disadvantages, risky mistakes, and negative effects, of some typical cost saving methodologies (like: 6 Sigma and Lean Manufacturing) are exposed. So, here is an alert to all manufacturers.
Keywords
cost reduction; financial management; manufacturing industries; 6 Sigma; ERP system; cost savings; financial system; lean manufacturing; manufacturing; Control systems; Costs; Enterprise resource planning; ISO standards; Lean production; Manufacturing; Materials requirements planning; Quality management; Raw materials; Research and development management; 6 Sigma; Cost Down; Cost Saving; ERP System; Engineering Management; Extra Profit; Financial System; Lean Manufacturing; MRP System; Quality Engineering; Quality Management System;
fLanguage
English
Publisher
ieee
Conference_Titel
Management of Innovation and Technology (ICMIT), 2010 IEEE International Conference on
Conference_Location
Singapore
Print_ISBN
978-1-4244-6565-1
Electronic_ISBN
978-1-4244-6566-8
Type
conf
DOI
10.1109/ICMIT.2010.5492914
Filename
5492914
Link To Document