What Are Yield Management Systems (YMS)

question 69

Essay

What are yield management systems (YMS).In what type of industry were they first used?

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Definitions:

Machine Hours

A measure of the total time that a machine is operated, used in calculating manufacturing costs and allocating expenses.

Commercial Washer

A heavy-duty washing machine designed for extensive use in a commercial setting, such as in laundromats or hotels.

Plantwide Overhead Rate

A single overhead rate calculated by dividing total factory overhead by total base units, used to allocate overhead costs to products.

Activity-Based Costing

A costing methodology that assigns costs to products and services based on the activities that go into producing them, with the aim of providing more accurate product cost information.