The CFOs who are bold will candidly describe their managerial accounting practices and systems as aged and Medieval at the extreme. The bold ones are unafraid to admit that their existing reported information is both flawed with inaccurate costs and incomplete by not providing P&Ls by customer including channel, selling, customer service, and marketing related “costs to serve” which are arguably more important than product costs.
The war in Ukraine, and corresponding economic sanctions against Russia, are tightening the supply of critical resources, shutting factories, and fueling inflation. And pressure from the private sector is cutting Soviet exports even further. Volkswagen and other global brands are closing factories in the region, Boeing is suspending orders for Russian titanium, and SWIFT is blocking some Russian banks from its financial network, which could prevent cash-strapped Russian suppliers from shipping goods.
This new chapter of supply chain instability requires executives to reevaluate their options quickly to maintain production and defend against margin pressure. Here’s how some companies are using manufacturing intelligence to identify immediate alternatives.
And he writhed inside at what seemed the cruelty and unfairness of the demand – C.L. Lewis.
Many products sink due to scarce sales. Uninspected, market boundaries seem murky.
Everyone in the manufacturing industry has heard the statement: Around 80 percent of the final product costs are determined during product development. One question we are asked by globally operating development teams: How can calculative risks be minimized in the early stages and production costs be managed optimally?
This past February, I was officially laid off for the first time in my career. While I recognize that I’m fortunate to have only been laid off once (at least so far) in 13 years, it was a new experience that I don’t know if I was prepared for. While I know that everyone processes things differently, this is how I got through it, peppered in with the benefit of hindsight.
If you are like me, you’ve probably often had to explain what exactly a Cost Engineer or Cost Estimator does. You probably have to explain this to friends and family that have never set foot into a plant or job site and have no idea what you are talking about. I often try to explain it in terms of a person or job they may be more familiar with.