• 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