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Product Costing

SBM: Product Costing has been designed specifically to meet the needs of manufacturing companies. It is a new and innovative product costing system that takes a simple, holistic approach to Cost Management. It enables you to combine what is good in Activity Based Costing with what is good in traditional Cost Accounting, and by doing this, accurately determine your product and supply chain costs.

  • Activity Based Process Model.  .........................................................   ...........................  SBM: Product Costing combines the Activity Based Costing concept of a 'Bill of Activities' with the operational concepts of 'Routing', 'Bills of Materials' and 'Recipes'  in an Activity Based Process Model that enables you to define not only the activities, resources and materials your products consume, but also the business logic of how they are consumed.  So you can see at the touch of a button each product and its accumulated costs as it progresses from primary materials through to packaged finished product and final delivery to the customer.

  • Improves Operational Performance.   .............................................    .............................  SBM: Product Costing enables you to see instantly how changes to prices and operational efficiency impact cost and profitability. You can model, measure and analyse the whole of the manufacturing, distribution and product development  process and by doing this improve the operational performance of your business.

  • Use Any Method of Product Costing   ..................................    ......................................    SBM: Product Costing puts you firmly in control and lets you decide what to include in your product cost models, so the characteristics of your business and the data that already exists in your company determines the content and structure of your cost models and the costing methods you use, not predefined formats or cost allocation methods; standard costing, actual costing, absorption costing and volume adjusted costing can all be sucessfully employed and the methods of Time Driven ABC and Resource Consumption Accouting are fully supported.

  •  Secure & Fully Auditable. .......................    ................................   ..........................  ........  SBM: Product Costing is an easy to use and affordable system that is secure and fully auditable. By automatically  tracking and logging changes to your cost models and price data, it puts you one step ahead in the SOX compliance race.

  • Rules, Data Tables and Equations   .....................  .............................................. SBM:Product Costing uses time and quantity as the critical measurements of how activities and resources are consumed by products. So for capital intensive manufacturers and companies with high research and development costs, rather than using 'average' and 'approximate' times and duration drivers you can use rules, equations and data tables to calculate accurate consumption and machine occupancy times and from this accurate product costs and profitability metrics.

  • SBM: Product Costing delivers many benefits,   ..........................   .............................   not least of which is a cost analysis structure that enables you to see instantly how changes to prices impact cost and profitability. It is a flexible and scaleable system that can be used by companies of all sizes and in all sectors. It provides world class functionality and delivers the timely, accurate and up-to-date information you need to support key commercial decisions.

Use the following links to find out about:-

>>  Activity Based Process Model
>>  Time Driven Activity Based Costing 
>>  Resource Consumption Accounting
>>  Manufacturing Accounting
>>  Web deployment
>> Enterprise wide product costing
>> Sarbanes-Oxley & Auditability
>> Technical Overview

 

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Last updated July 2006