Match the descriptions that follow with the corresponding terms. Descriptions:
- Inventory system in which goods are manufactured or purchased just as they are needed for sale.
- A method of allocating overhead based on each product”s use of activities in making the product.
- Systems that are especially important to firms adopting just-in-time inventory methods.
- One part of the value chain for a manufacturing company.
- The U.S. economy is trending toward this.
- A performance-measurement approach that uses both financial and nonfinancial measures, tied to company objectives, to evaluate a company”s operations in an integrated fashion.
Terms:
(a)Activity-based costing
(b)Balanced scorecard
(c)Total quality management (TQM)
(d)Research and development, and product design
(e)Service industries
(f)Just-in-time (JIT) inventory