Chapter 19 Activity-Based Systems: Activity-Based Management and Just-in-Time Belverd E. Needles, Jr. Marian Powers Sherry K. Mills Henry R. Anderson ----------Multimedia Slides by: Dr. Paul J. Robertson New Mexico State University Steve Leask New Mexico State University 19-1 Copyright Houghton Mifflin Company. All rights reserved. Activity-Based Management and Activity-Based Costing OBJECTIVE 2 Define activity-based management (ABM) and discuss its relationship with the supply chain and value chain. 19-2 Copyright Houghton Mifflin Company. All rights reserved. Activity-Based Management » Activity-based management (ABM) is an approach to management that includes: Identifying all major operating activities. Determining what resources are consumed by each activity. Categorizing the activities as either adding value to a product or service or not adding value. 19-3 Copyright Houghton Mifflin Company. All rights reserved. Activity-Based Management » ABM provides financial and operational performance information at the activity level that: Is helpful for making decisions about business segments. Helps managers eliminate waste and inefficiencies and redirect resources to activities that add value to the product or service. 19-4 Copyright Houghton Mifflin Company. All rights reserved. Supply Chains and Value Chains » Two tools of ABM, supply chains and value chains, help managers better understand their organization’s external and internal operations. 19-5 Copyright Houghton Mifflin Company. All rights reserved. Supply Chain » A supply chain is an interdependent collection of organizations that supplies materials, products, or services to a customer. A supply chain includes suppliers and suppliers’ suppliers as well as customers and customers’ customers. 19-6 Copyright Houghton Mifflin Company. All rights reserved. Value Chain » A value chain is a related sequence of value-creating activities within an organization. It helps managers better understand the interdependencies of those activities. A company’s value chain is part of its supply chain. 19-7 Copyright Houghton Mifflin Company. All rights reserved. Value Chain When organizations work cooperatively with others in their supply chain or larger value chain, new processes can be introduced or existing processes redesigned to reduce the total cost of products or services. 19-8 Copyright Houghton Mifflin Company. All rights reserved. Value-Adding and NonvalueAdding Activities and Process Value Analysis OBJECTIVE 3 Distinguish between value-adding and nonvalue-adding activities, and describe process value analysis. 19-9 Copyright Houghton Mifflin Company. All rights reserved. Value-Adding Activities » A value-adding activity is an activity that adds value to a product or service from the customer’s perspective. Examples include: Assembling a car. Painting a car. Installing brakes on a car. 19-10 Copyright Houghton Mifflin Company. All rights reserved. Nonvalue-Adding Activities » A nonvalue-adding activity is an activity that adds cost to a product or service but does not increase its market value. Examples include: Moving materials. Storing materials. 19-11 Copyright Houghton Mifflin Company. All rights reserved. Process Value Analysis » Process value analysis (PVA) is an analytical method of identifying all activities and relating them to events that cause or drive the need for the activities and the resources consumed. 19-12 Copyright Houghton Mifflin Company. All rights reserved. Costs and Resources » By identifying nonvalue-adding activities, organizations can reduce costs and redirect resources to value-adding activities. 19-13 Copyright Houghton Mifflin Company. All rights reserved. Value-Adding Activities for a Service Organization Western Data Services, Inc. Value-Adding Activities for the Classic Letter Value-Adding Activities How the Activity Adds Value Design the letter Enhances the effectiveness of the communication Create a database of customer names and addresses sorted in the ZIP code order Increases the probability that the client will efficiently and effectively reach targeted customer group Verify the conformity of mailing information with USPS requirements Ensures that the client’s mailing will receive the best postal rate Process the job Creates the client mailing Deliver the letters to the post office Begins the delivery process 19-14 Copyright Houghton Mifflin Company. All rights reserved. Implementing Activity-Based Costing OBJECTIVE 4 Define a cost hierarchy, describe its elements, and explain how a cost hierarchy and a bill of activities are used in activity-based costing. 19-15 Copyright Houghton Mifflin Company. All rights reserved. Cost Hierarchy » Many companies use a cost hierarchy to manage the assignment of activitybased costs. » A cost hierarchy for a manufacturer typically has four levels: Unit level. Batch level. Product level. Facility level. 19-16 Copyright Houghton Mifflin Company. All rights reserved. Unit-Level Activities » Unit-level activities are performed each time a unit is produced: Insertion of a component during assembly. 19-17 Copyright Houghton Mifflin Company. All rights reserved. Batch-Level Activities » Batch-level activities are performed each time a batch of goods is produced: These activities vary with the number of batches prepared. Examples: setup, scheduling, and material handling. 19-18 Copyright Houghton Mifflin Company. All rights reserved. Product-Level Activities » Product-level activities are performed to support the diversity of products in a manufacturing plant. Examples include: Implementing engineering change notices. Redesigning the installation process. 19-19 Copyright Houghton Mifflin Company. All rights reserved. Facility-Level Activities » Facility-level activities are performed to support a facility’s general manufacturing process. Examples include: Lighting the manufacturing plant. Securing the manufacturing plant. Insuring the manufacturing plant. 19-20 Copyright Houghton Mifflin Company. All rights reserved. Cost Hierarchy » The frequency of activities varies across activity levels. » The cost hierarchy includes both value-adding and nonvalue-adding activities. 19-21 Copyright Houghton Mifflin Company. All rights reserved. Sample Activities in Cost Hierarchies Activity Level Car Manufacturer: Engine Installation Direct Mail Service: Preparing Bank Customer Mailing Unit level Install engine Test engine Print and fold letter Insert letter and other information into envelope Seal and meter envelope Batch level Set up installation process Move engines Inspect engines Retool machines Verify correct postage Bill client Product or service level Redesign installation process Train employees Develop and maintain computer systems and databases Facility or operations level Provide facility management, maintenance, lighting, security, and space Provide facility management, maintenance, lighting, security, and space 19-22 Copyright Houghton Mifflin Company. All rights reserved. Bill of Activities » A bill of activities is a list of activities and related costs that is used to compute the costs assigned to activities and the product unit cost. 19-23 Copyright Houghton Mifflin Company. All rights reserved. Bill of Activities » More complex bills of activities include cost pool rates and cost driver levels used to assign costs to cost objects. » A bill of activities may be used as the primary document or a supporting schedule to calculate the product unit cost in job order or process costing. 19-24 Copyright Houghton Mifflin Company. All rights reserved. Discussion Q. What are the four cost hierarchy levels common to a manufacturer? A. 1. Unit level. 2. Batch level. 3. Product level. 4. Facility level. 19-25 Copyright Houghton Mifflin Company. All rights reserved. The New Manufacturing Environment and JIT Operations OBJECTIVE 5 Define the just-in-time (JIT) operating philosophy and identify the elements of a JIT operating environment. 19-26 Copyright Houghton Mifflin Company. All rights reserved. Traditional Operating Environment » In a traditional operating environment, a company usually: 1. Maintains large amounts of inventory. 2. Uses push-through production methods. 3. Purchases materials in larger lot sizes with fewer deliveries. 4. Performs infrequent setups. 5. Manufactures products in batches. 6. Uses a work force skilled in only one area. Copyright Houghton Mifflin Company. All rights reserved. 19-27 The New Environment » The new manufacturing environment emphasizes streamlined and improved manufacturing. 1. Waste in materials, labor, space, and production time are reduced. 2. Recordkeeping is reduced. 3. Resources that tie up working capital are reduced. 19-28 Copyright Houghton Mifflin Company. All rights reserved. JIT: Basic Concepts » Underlying the new methods are several basic concepts. 1. Simple is better. 2. The quality of the product or service is critical. 3. The work environment must emphasize continuous improvement. 4. Any activity or function that does not add value should be reduced. 5. Goods should be produced only when needed. 19-29 Copyright Houghton Mifflin Company. All rights reserved. JIT Operating Environment » The elements of a JIT operating environment are: 1. Maintain minimum inventory levels. 2. Develop pull-through production planning and scheduling. 3. Purchase materials and produce as needed, in smaller lot sizes. 4. Perform quick, inexpensive machine setups. 19-30 Copyright Houghton Mifflin Company. All rights reserved. JIT Operating Environment 5. Create flexible manufacturing work cells. 6. Develop a multiskilled work force. 7. Maintain high levels of product quality. 8. Enforce a system of effective preventive maintenance. 9. Encourage continuous improvement for the work environment. 19-31 Copyright Houghton Mifflin Company. All rights reserved. Accounting for Product Costs in the New Manufacturing Environment OBJECTIVE 6 Identify the changes in product costing that result when a firm adopts a JIT operating environment. 19-32 Copyright Houghton Mifflin Company. All rights reserved. Traditional Operating Environment » The traditional operating environment divides the production into five parts: 1. Processing time. 2. Inspection time. 3. Moving time. 4. Queue time. 5. Storage time. 19-33 Copyright Houghton Mifflin Company. All rights reserved. JIT Operating Environment » In product costing under JIT, costs associated with processing time are grouped as either materials costs or conversion costs. » Conversion costs include the total of direct labor costs and manufacturing overhead costs incurred by a production department, JIT/FMS work cell, or other work center. 19-34 Copyright Houghton Mifflin Company. All rights reserved. Assigning Costs » In the JIT operating environment, indirect costs have little correlation with direct labor hours. » Since automation has replaced direct labor hours with machine hours, machine hours become more important with JIT. 19-35 Copyright Houghton Mifflin Company. All rights reserved. Indirect Costs » Several costs that were treated as indirect costs in a traditional production environment are directly traceable to a JIT production cell. » Only costs associated with building occupancy, insurance, and property taxes remain indirect costs of work cells. 19-36 Copyright Houghton Mifflin Company. All rights reserved. Throughput Time » The key measure in a JIT operating environment is throughput time. » Throughput time is the time it takes to move a product through the entire production process. 19-37 Copyright Houghton Mifflin Company. All rights reserved. Comparison of ABM and JIT OBJECTIVE 8 Compare ABM and JIT as activity-based systems. 19-38 Copyright Houghton Mifflin Company. All rights reserved. Similarities of ABM and JIT » ABM and JIT are similar in that both analyze processes and identify valueadding and nonvalue-adding activities. Both seek to eliminate or reduce nonvalue-adding activities. Both seek to improve the allocation of resources. 19-39 Copyright Houghton Mifflin Company. All rights reserved. System Differences » The two systems differ in their primary goals. The primary goal of ABM is to calculate the most accurate product cost by using activity-based costing (ABC). The primary goal of JIT is to simplify and standardize production and purchasing activities. 19-40 Copyright Houghton Mifflin Company. All rights reserved. Comparison of ABM and JIT Approaches to Activity-Based Systems ABM JIT Purpose Reduce or eliminate nonvalue-adding activities Reduce complexity using work cells, standardizing parts, and reducing or eliminating inventories and nonvalue-adding production activities Cost assignment Use ABC to assign manufacturing overhead costs to the product cost by using appropriate cost drivers Reorganize service activities so that they are performed within work cells and manufacturing overhead costs incurred in the work cell become direct costs of the products made in the work cell Costing method Integrate ABC with either job order or process costing to calculate product costs Use backflush costing to calculate product costs when the products are completed 19-41 Copyright Houghton Mifflin Company. All rights reserved.