Aimed at non accountants, developed particularly for material control / production planning team members and manufacturing supervisors, this course is delivered from an ‘operations’ viewpoint, in an appropriately pitched fashion. Typically a half day session provides a suitable overview. Typical course content includes :-
Course Includes
- How costs build up through the process
- Carrying costs identified (obvious and hidden)
- Inventory Turns (including the effect on margin)
- Purchase price reductions – implications on the bottom line
- Quantity discount problem
- Stock valuation using various methods (FIFO, LIFO etc)
- Holding cost implications for ‘dead stock’ and ‘slow moving stock’
- Benefits of low inventory in a deflationary industry
- Total-Factor Productivity Calculations
- Cost of changes post design (Ohno’s Rule of Tens)
- Definitions of Overhead Recovery & Absorption Costing, Activity Based Costing and Throughput Accounting
- Backflushing