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Real-Time Control of the Industrial Enterprise by Walter Boyes, Peter Martin

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4

Knocking Profit Out of Control

One important aspect of the early Industrial Revolution was that the piecemeal approach to the manufacture of handmade goods could not be sustained for factory- or plant-produced goods. With the advent of industrialization, goods started to be produced so rapidly that accounting for them a piece at a time was just not feasible. To exacerbate the problem of speed, some of the key consumables of production processes, such as energy and materials, could only practically be billed by their suppliers on a monthly basis. The net result of this situation was that monthly accounting became the fastest practical accounting approach industrial business could implement. The profitability of the plants or factories could ...

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