Standard Costing in a Custom Manufacturing Environment

Standard Costing in a Custom Manufacturing Environment

Biography

What do you do when you want the best of both worlds? You manufacture customer-specific products yet you want the performance measurement characteristics of Standard Costing. Normally this would lead you to use Average or FIFO Costing, but these costing methods have no built-in performance measurement capability. And ad-hoc reporting (several cost types and custom reporting) do not cut it. Learn how a custom product manufacturer created the ability to cost by "cost event", by creating the ability to change standard costs whenever a significant business event occurred, such as a customer quote, ECO or new product introduction.

Papers

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