Kaizen Costing For A Restaurant
KAIZEN COSTING FOR A RESTAURANT
ABSTRACT
Kaizen is a Japanese term for “continuous improvement†or “continual improvementâ€. A philosophy that involves making the work environment more efficient and effective. Kaizen aims to eliminate waste such as “activities that adds cost but does not add valueâ€. It also means “to take it apart and put it back together in a better wayâ€. This is then followed by standardization of this ‘better way’ with others, through standardized work. The key objectives are: elimination of waste, quality control, just in time delivery, standardized work and the use of efficient equipments. Implementation of kaizen costing system in a restaurant business would mean to achieve the given objectives. To incorporate this principle in the various operations of the business, to measure it’s effect against requirements and continuously standardize the operations to achieve maximum productivity with respect to cost reduction, profitability,......
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Approximate Word Count: 2363
Approximate Pages: 10 (250 words per double-spaced page)
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