A strong reason Lean Accounting gained prominence is because traditional accounting systems were essentially backwards looking, and are not able to reflect accurately the improvements through Lean. The point to remember is that lean accounting is undoubtedly a major improvement over the status quo, but must still not be used to control the financial performance of the firm. Even though lean accounting will provide you with much better information, it is important to understand that the financial performance is an emergent outcome of the relationships among the organization’s parts. Managers should not use financial targets to control financial results, instead, manage the relationships that produce these results.
Lean manufacturing is concerned with eliminating waste in manufacturing processes. Promised benefits included such outcomes as reduced lead times, improved quality, improved on-time deliveries, less inventory, less space, less human effort, lower costs, and increased profitability.
Lean accounting is a simplified approach to costing that supports lean manufacturing with both financial and non-financial measures. One key area that supports efficiency improvement is productivity measurement, which is concerned with the relationship between outputs and inputs. As waste decreases through lean manufacturing practices, productive efficiency should increase.
By completing this course, you'll be armed with the valuable and practical skills you need to create, develop, implement, maintain and sustain an effective Lean Accounting and Productivity Measurement system in order to improve your product/service costing accuracy, support decisions about pricing, improve the efficiency of processes and activities, and evaluate process improvement initiatives.
Operational Excellence Training is a leading provider of high-quality courses and programs related to Industrial Management, Health and Safety at Work, Transportation, Supply Chain Operations, Manufacturing and Warehouse Management.
Currently, our team includes 5 instructors with expertise in manufacturing, logistics, operations, and services. All the instructors are international-level experts, having 15+ years of practice and Master’s Degree in their relevant field.
Among other professional recognitions, our instructors are members of APICS (Association for Supply Chain and Operations Management), Certified Supply Chain Professionals (CSCP), Certified Lean Six Sigma Black Belts (Acuity Institute) and Certified in Sales and Operations Planning (S&OP Institute).
Our mission is simple: we aim to provide an interactive and engaging learning experience for professionals all around the globe and help them understand and adapt to the requirements of modern management.
The courses we create are structured in a step-by-step manner and contain up-to-date content and comprehensive resources that get our students to the next level.
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