Don’t wait until the end of the day, as the truck carrying your freshly manufactured goods pulls away from the dock, to see what profit your hard work and quality products delivered.
When it comes to managing your manufacturing costs accurately, actual costing tends to be preferred by manufacturers with frequently changing costs, such as make to order, adapt to order (configure), engineer to order manufacturers, compounders, assemblers and those with volatile raw material pricing. However, predictable profit begins with an accurate and up to date standard cost reference and as such maintaining standards to compare to actual cost is vital to the profit predictability of the company.
Workshop Description (2 hours):
During this session, the concepts learned in the Managing Cost Standards Workshop Session will provide a clear understanding on the importance of maintaining cost standards in an actual cost system. The session will cover best practice and provide proactive guidelines on how to set and reset cost standards in your VISUAL database.
Who Should Attend:
Cost Accountants, Supply Chain staff, Engineers, Production Managers and Inventory staff will benefit from this training.
Upon completion of this workshop attendees will understand the value of maintaining cost standards and know how to reset standards in their VISUAL ERP system.
This is a hands-on workshop. Attendees should have working knowledge of the VISUAL ERP system. Attendees must also have security rights and access to a recent copy of a restored test database.