Standard Cost in Lean Energy by Michael Overturf, CEO ZF Energy Development

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Information about Standard Cost in Lean Energy by Michael Overturf, CEO ZF Energy Development
Business & Mgmt

Published on March 19, 2014

Author: vosorioNYC

Source: slideshare.net

Description

Industrial product managers must determine the cost of a product before it is manufactured and shipped to customers. The absence of this information creates profit uncertainty. Energy cost is one of many cost input that go into the product cost formula. Most pricing models involve, at minimum, a “cost-plus” basis that determines actual future production cash obligations. An analysis of costs per unit, plus a profit that assures an acceptable return on investment, yields a product's lowest reasonable price level. The Standard Cost of energy is part of cost-plus pricing, albeit a small part.
Difficulty arises when forecasting the future cost of energy. To be sure, all forecasts are by definition wrong. However, the objective of the proposed cost management process is not to be perfectly accurate, but to be as accurate as possible while still minimizing the actual cost and therefore support competitive product costing.
This paper discusses high-confidence standard energy cost forecasts in the Lean Energy framework.

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