Real-Time Profit Management: Making Your Bottom Line a Sure Thing / Edition 1by Ernst & Young, Bob Dragoo
Real-Time Profit Management Right now, industry is experiencing a definitive change in management of the bottom line. It is the ability to accumulate, analyze, and measure cost vs. profit data in real time. What that means for manufacturers is that, for the first time, managers will be able to measure the profitability of each and every product they make, while it is… See more details below
Real-Time Profit Management Right now, industry is experiencing a definitive change in management of the bottom line. It is the ability to accumulate, analyze, and measure cost vs. profit data in real time. What that means for manufacturers is that, for the first time, managers will be able to measure the profitability of each and every product they make, while it is being made. In turn, that translates into an unprecedented opportunity to take corrective action while there is still time to reverse unprofitable trends. Too often in today’s industry, cost analysis comes after the factwhether quarterly, semi-annually, or annually. And in a time of reengineering upheaval, more and more companies are acutely aware of the need for a precise means of measuring costs as they are actually incurred minute-by-minute, hour-by-hour, day-by-day. In a process management breakthrough, Real-Time Profit Management provides just such a revolutionary method. Developed by Ernst & Young LLP, and tested and approved by top executives at such major firms as Temple Inland, Exxon, and Shell, the state-of-the-art real-time system described in this book offers a bold new wave in process reengineering and activity-based costing. It introduces a new concept in business process management: the use of cost and profit measurements as control variables and as strategic business planning parameters. The key difference between this new concept and current systems is time. With costs measured in real time, after-the-fact "variances" between profit projections and actual bottom-line figures can be drastically reduced, if not virtually eliminated. Most importantly, the data you need is at your command in time to respond to it. Ernst & Young’s top consultant provides a step-by-step approach for designing and implementing this cutting-edge cost system in virtually any type of manufacturing operation. In addition, Real-Time Profit Management outlines both the strategic and tactical benefits to your business. You’ll have up-to-the-minute information when deciding on everything from production schedules to pricing strategies, as well as how and where to focus cost reduction programs. In short, you’ll be able to gauge the profitability of every order you produce. With the revolutionary technique presented in Real-Time Profit Management, Ernst & Young creates a new dimension in profit management.
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Table of Contents
How We Got to this Point.
50 Years of Control.
The Dynamics of Cost Data.
The Importance of a Time-History.
Use of Costs in a Business Strategy.
Executive Uses of Activity-Based Management.
A New Look at Business.
Good Business/Bad Business.
Architecture of a Real-Time Cost System.
Implementing a Real-Time System.
The Elements of the Cost Equation.
Harvesting the Value from ABC.
The Minefield of Real-Time Information.
The Use of SPC in Real-Time Costing.
An Example of ABC Use in Planning.
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