244: How To Identify Major Gaps in Manufacturing Cost Structures


Manage episode 268808583 series 2416596
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Continuing to manage your organization's costs can be difficult to keep top-of-mind — especially with everything else going on. COVID-19, a troubled economy, figuring out how to bring employees back to work... you have enough on your mind, and it can be tempting to take the "set it and forget it" approach with your costs.

But understanding your true costs is just one of the ways you can reveal major gaps in your business and, as you already know, it's never been more important to trim the fat than it is today. Sure, breaking down your product and labor costs can be a daunting task. But, with the right tools and expertise, it can actually result in some pretty significant savings.

In this episode, Andrew Geiser, a manager at Rea & Associates, explains how you can go about identifying potential leaks in your cost structures. This is a pretty wide-spread problem, so pay attention.

Listen to this episode of unsuitable to learn:

  • What are your true costs? Learn how to understand and identify them in regards to materials, overhead, and labor
  • Why you need to know how your accounting system works (even if you’re not in charge of accounting)
  • Best practices to manage assets so that you both meet customer demand and help cut manufacturing costs

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