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Total Quality Management And Its Relationship With Cost Acco

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Gabrielė Senkevičiūtė

on 5 December 2015

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Transcript of Total Quality Management And Its Relationship With Cost Acco

STORY
PRIMARY ELEMENTS OF TQM
DEFINITION OF TQM
TOTAL QUALITY MANAGEMENT AND ITS RELATIONSHIP WITH COST ACCOUNTING
Content
Story
Definition of TQM
The primary elements of TQM
Benefits and disadvantages of TQM
Company example: Toyota Motor Corporation
TQM and its relationship with cost accounting
BENEFITS OF TQM
1920s - first seeds of TQM, importance of worker productivity;
1930s - development of statistical analysis and control of quality;
1950s - prevalence of TQM;
1970s - changes in Japan;
Today - quality standarts.
A managerial accounting concept of producing higher quality products;
A business practice with continuous improvement;
This concept looks at all aspects of business, tries to improve efficiency and eliminate wasteful spending.
Customer focused;
Total employee involment;
Process-centered;
Integrated system;
Strategic and systematic approach;
Continual improvement;
Fact-based decision making;
Communications.
Strengthened competitive position;
Adaptability;
Higher productivity;
Enhanced market image;
Elimination of defects and waste;
Reduced costs and better cost management;
Higher profitability;
Improved customer focus and satisfaction;
Increased customer loyalty and retention;
Increased job security;
Improved employee morale;
Enhanced shareholder and stakeholder value;
Improved and innovative processes.
DISADVANTAGES OF TQM
Initial introduction costs;
Benefits may not be seen for a few year;
Workers may be resistant to change.
TOYOTA MOTOR CORPORATION
HISTORIC CAUSES AND CONSEQUENCES
Requirement of weapon-manufacturing optimization;
U.S. associated quality with a greater effort and restrictive regulations;
Japan's economy in need of total economic rebuilding;
Toyota's Production System is method used worldwide now.
BASIC TQM PERSPECTIVES
Customer oriented-attidude;
Self-discipline and total optimization;
Innovation trough continue improvement.
BUDGETING AND MANUFACTURING CONTROL SYSTEM
Differences between Toyota's budgeting system and another budgeting systems:
Emphasis is on variable costs;
Variable costs have to be reduced via continuous improvement;
Lot of cost centers;
Indirect costs are not allocated to products;
The budgeting system supports a matrix organization.
CONCLUSION
TQM helps companies to increase their profit and satisfy the employess;
Biggest advantage - reduction of the costs and better cost management.
TQM improves the communication in the company and that helps in making decisions;
Importance of focus on customers.
TQM improves company in so many different ways.
Full transcript