Cost Management in Plastics Processing

Book excerpt: Cost Management in Plastics Processing: Strategies, Targets, Techniques, and Tools, Fourth Edition, makes readers think about current practices and how to go forward with effective cost management. This is a practical workbook that provides a structured approach to reducing costs in plastics processing for all the major plastics shaping processes (moulding, extrusion, forming) as well as elsewhere in the company (e.g., in factory services and non-manufacturing areas). Competition in all manufacturing sectors is increasing, and there is continuous pressure to drive costs down and to increase cost management. Good cost management improves profits and margins, improves management control and opens the door to becoming a world-class company. The approach throughout this book looks rigorously at where costs are incurred and proposes projects and targets for cost reduction. This book is designed to provide a well-structured map broken down into simple tasks and achievable goals. This book offers a structured approach to the techniques of cost management, from how costs are calculated by accountants, to the effective use of machines and labor, to the minimization of waste. It begins by looking at traditional methods of accounting and costing and whether these are helpful or accurate for project management. Practical examples of cost management in plastics processing are included, together with many useful flow charts and diagrams to illustrate the points under discussion. - Enables plastics processors to institute an effective cost management system, going beyond simply trying to cut costs - Provides a holistic perspective on cost management, shining a light on areas on costs which may not have previously been considered or accounted for, and proposing projects and targets for cost reduction - Serves as a route map to help companies move toward improved margins and greater profitability