Understanding how manufacturing costs accumulate during the conversion of raw materials into the finished goods, and how each stage of production adds value, is crucial to the management of those costs.
The sourcing of the various materials and other costs that feed into the production process is dependent on, and influenced by, the supply chain strategies. Therefore, how a company evaluates and manages the supply chain will have a direct impact on the costs. Equally, the stability and sustainability of the production processes relies on the Maintenance function. The plants productivity and cost-effectiveness is affected by its availability.
Managers and staff involved in the manufacturing, supply chain and maintenance functions of the company.