Introduction to Manufacturing Cost Models, Activity-Based Costing (ABC), and Should-Cost Analysis Fundamentals Training by Tonex
This comprehensive course provides a deep dive into the essential methodologies for understanding and optimizing manufacturing costs. Participants will gain practical knowledge of cost modeling, activity-based costing, and should-cost analysis, enabling them to improve efficiency and profitability. By mastering these techniques, professionals can also significantly enhance cybersecurity risk assessments related to supply chain vulnerabilities, cost-driven compromises, and resource allocation for security measures. This training equips individuals to make informed decisions that impact both financial performance and operational security.
Audience:
- Manufacturing Engineers
- Supply Chain Managers
- Procurement Professionals
- Financial Analysts
- Project Managers
- Cybersecurity Professionals
Learning Objectives:
- Understand fundamental cost modeling principles.
- Apply Activity-Based Costing (ABC) for accurate cost allocation.
- Perform should-cost analysis to evaluate supplier pricing.
- Identify cost drivers and optimize manufacturing processes.
- Improve decision-making related to manufacturing costs.
- Enhance strategic sourcing and vendor negotiations.
Course Modules:
Module 1: Foundations of Manufacturing Cost Modeling
- Introduction to Cost Concepts
- Types of Manufacturing Costs
- Direct vs. Indirect Costs
- Cost Estimation Techniques
- Cost Variance Analysis
- Building Basic Cost Models
Module 2: Activity-Based Costing (ABC) Principles
- ABC Methodology Overview
- Identifying Cost Drivers
- Allocating Overhead Costs
- Process Analysis and Improvement
- Implementing ABC Systems
- Benefits of ABC Implementation
Module 3: Should-Cost Analysis Fundamentals
- Purpose of Should-Cost Analysis
- Component Cost Breakdown
- Manufacturing Process Evaluation
- Material and Labor Cost Analysis
- Benchmarking and Competitive Analysis
- Negotiation Strategies with Should-Cost Data
Module 4: Cost Drivers and Process Optimization
- Identifying Key Cost Drivers
- Value Stream Mapping
- Lean Manufacturing Principles
- Process Flow Analysis
- Waste Reduction Strategies
- Continuous Improvement Techniques
Module 5: Decision-Making and Strategic Sourcing
- Cost-Based Decision Making
- Make-or-Buy Analysis
- Supplier Selection and Evaluation
- Total Cost of Ownership (TCO)
- Risk Management in Sourcing
- Strategic Partnership Development
Module 6: Advanced Cost Analysis and Application
- Advanced Cost Modeling Techniques
- Cost Forecasting and Budgeting
- Cost Performance Measurement
- Integrating Cost Analysis with ERP Systems
- Applying Cost Analysis in Project Management
- Case Studies and Real-World Applications
Enroll today to gain the essential skills needed to optimize manufacturing costs and make informed strategic decisions. Contact Tonex to register or for more information.