Tag Archives: Profitability
Is big data a challenge for your organization? An article in the September 2013 edition of Software Magazine highlights 3C Software’s Matthew Smith in a discussion about business intelligence tools needed to handle the massive amounts of data that companies collect and analyze. From the article: Organizations constantly analyze their data to understand and predict […]
In conversations with manufacturing companies, it’s not long before the discussion of effective costing processes turns to a chat about profitability. Read the latest article by Andy Bigalow, “The Cost of Poor Costing“, to explore how knowing your true manufacturing costs directly affects a company’s profitability.
Today I met with finance and operations managers for a manufacturing company that didn’t really understand the unique costs of each product they produce. As a result, they weren’t really sure of the margins being created by each product and customer they serve. The interesting part was that these very same managers were pondering whether […]
3C Software recently posted an article on their website discussing the challenges process manufacturers face with calculating profitability. It starts with the premise that calculating costs is the most unpredictable part of the traditional profit calculation: “One of the first lessons of accounting is the equation Profit = Revenue â€“ Cost. Since aggressive revenue growth […]