Best Practices For Increasing Your Profits In A Down Economy
This webcast talks on ?Best Practices for Increasing Your Profits in a Down Economy?. It tries to cover the issues like identifying the hidden profit opportunities with event-driven costing, implementing on profit initiatives, turning data into profits etc. The example of Owens and Minor Distributors are taken to identify the hidden profit opportunities with event-driven costing. The famous rules like 20-80, and ABC Whale Curve of Cumulative Profitability are explained. The Activity-Based Cost Management is described from the strategic and operational view. The webcast integrates ABC and Balanced Scorecard. It points out the winners and losers in a tight economy, elucidates the idea of CTS pricing, which is a method to ?draw the line? on absorption by customers of the internal supply chain costs. The future CTS considerations and the keys to success in CTS pricing are also pointed out. The different phases in the profit measurement implementation are finance and operations metrics and benchmarks, transactional ABC and event-driven costing. These phases enable a company to realize quick wins and fast ROI, work toward a vision while leveraging the previous phase, realize ROI before progressing, and identify hot spots to focus future efforts. While explaining event-driven costing the webcast talks on profit initiatives and creating a value capture plan. To gain a strategic edge using event driven costing it introduces the products of Marigold.