BPCS/LX Tip of the Week: Estimates Versus Actuals
So, how many of you have updated the estimated cost of material and labor in your ERP system recently? ……Hmmmm. That’s what I thought.
Do you have any idea how accurate those numbers are? Are you making business decisions based on estimates that are completely inaccurate?
Consider switching from estimates to actuals. Furthermore, consider implementing an automated data collection system to make this easy. By collecting production and labor data real time, you can gain real insight into your business and you gain the ability to look at the profitability of individual jobs, projects and employees.
Optimize Your Manufacturing Today!