APICS CPIM Part 2 (All Solved Accurately 100%) 2024.

14 Points correct answers W. Edwards Deming's 14 management practices to help companies increase their quality and productivity A3 Method correct answers A means of compactly describing a business process Abnormal Demand correct answers Demand in any period that is outside the limits established by management policy Absorption Costing correct answers An approach to inventory valuation in which variable costs and a portion of fixed costs are assigned to each unit production. Acceptable Quality Level (AQL) correct answers When a continuing series of lots is considered, a quality level that, for the purposes of sampling inspection, is the limit of a satisfactory process average Acceptance Sampling correct answers the process of sampling a portion of goods for inspection rather than examining the entire lot Action Message correct answers An output of a system that identifies the need for, and the type of action to be taken to correct, a current or potential problem. Activation correct answers Putting a resource to work Activity-Based Cost Accounting correct answers A cost accounting system that accumulates costs based on activities performed and then uses cost drivers to allocate these costs to products or other bases such as customers, markets, or projects. It attempts to allocate overhead costs on a more realistic basis than by using direct labor or machine hours Activity-Based Management (ABM) correct answers The use of activity-based costing information about cost pools and drivers, activity analysis, and business processes to identify business strategies; improve design, manufacturing, and distribution; and remove waste from operations Actual Costs correct answers The labor, material, and associated overhead costs that are charged against a job as it moves through the production process Actual Demand correct answers Composed of customer orders (and often allocation of items, ingredients or raw materials to production or distribution). Nets against or chosen over a time horizon. Adaptive Smoothing correct answers A form of exponential smoothing in which the smoothing constant is automatically adjusted as a function of forecast error measurement