workshop background
Finance and accounting has a  major long-term impact on Lean Manufacturing. It can provide incentives to sustain the initial momentum or it may discourage Lean Efforts and slow the pace of improvement. The technical and operating people who initiate Lean Manufacturing are often at odds with financial people who measure and evaluate the ultimate results. This seminar bridges the gap between operations and finance. It strengthens financial skills and improves understanding between the accounting function and other parts of the organization. The program is packed with information and learning experience for managers, staff  and supervisors. It improves decision making and sustains the momentum of initial Lean Manufacturing initiatives.

The Benefits
● Make better decisions at all levels.
●Count what really counts
●Improve understanding between functions
●Institutionalize Lean Manufacturing concepts for long-term improvement.

  "If you cannot measure it, you cannot improve it."-- Lord Kelvin

 You Will Learn...
Financial Statements
●How to talk to accountants in their own language- assets, liabilities, GAAP and many
　other accounting terms and principles.
●Methods for evaluating inventory and how to use this knowledge to justify Lean Mfg initiatives.
●About recent accounting scandals and abuse and how they affect your own accounting system.
●How to evaluate financial statements and assess operating performance.
●About financial ratios and why they are such good indicators of financial health.
●How to spot strengths and weakness in a financial statement.

Strategic Financial Metrics
●About the Balanced Scorecard and how it supplements traditional financial measures.
●How to calculate Economic Value Added (EVA) and why this concept is used by companies
　such as General Electric.
●Discounted Cash Flow and how to use it for evaluating major capital investments.

Strategic Cost Management
●About cost behavior and how changes in costs, sales volume and pricing affect operating results
　and, eventually, the bottom line.
●Why Activity Based Costing fits so well with Lean Manufacturing.
●About the problems and weaknesses of Standard Costing systems.
●Using Break Even and Sales Mix analyses to rationalize product lines and prevent product
　proliferation.

Analysis and Decision Making
●About the financial tools to identify and eliminate waste.
●Where to use Job Costing and where Process Costing is more appropriate.
●How to know when you are losing money on low-volume products.
●About Make-Buy decisions and how competitive and financial analyses are both important.
●Analysis of capital investment using Discounted Cash Flow (DCF) and other tools.

Case Problem
●Analyze the XYZ Corporation and determine how to modify accounting systems and
　decision processes to support Lean Manufacturing.
●Discuss your own company's issues and develop financial strategies and metrics for your
　own Lean Manufacturing Strategy.

Program Outline

Time
2days

Who should attend
Mfg Director, Managers, Engineers, Supervisors

For more detailed information about this workshop, Please call us 020-33689262, 37597781