In this 5th and final installment on our job shops dashboard series, we’re talking dashboard buzzwords. I’m sure you’ve heard the buzzwords that are taking industry by storm: data driven decision-making, industry 4.0, industrial internet of things, digital...
In this series on dashboards we have examined the benefits of dashboards for job shops and the key operational measures and financial KPIs that your dashboard should include. In this article, we’re actually going to do something different. We’re going to discuss the...
We’ve previously discussed the benefits of dashboards for job shops and the operational KPIs you need on your dashboard. We now want to review the financial KPIs you need on your dashboard to help you assess the financial performance of your shop. The first three...
We’ve previously discussed the benefits of dashboards for job shops. We now want to examine what are the 4 key metrics that should be on your dashboard to help you assess the operational performance of your job shop. It’s likely that many of these example operational...
Metrics and key performance indicators (KPIs) are an essential part of managing and tracking the financial and operational performance of any job shop. Dashboards are a visual presentation summary of these key metrics so you know how you’re doing at a glance. A...
Manufacturing overhead costs are a significant category of expenses for many manufacturers and job shops today. Manufacturing overhead costs take on many definitions and can be allocated in several ways, thus getting a sense of what costs are in manufacturing overhead...
In this article we explain why cost accounting including activity based costing, does not work. We discuss job shop costing methods and shop rates using traditional Cost Accounting. We cover the actual and allocated direct labor methods, department rate method, cost...
Argent International of Plymouth, Michigan, and Mexico City participated in the Job Shop Pricing program to great results. The Job Shop Pricing program is for custom manufacturers — specifically custom job shops. Custom job shops often find cost accounting...
