Our client is a leading US based manufacturer of a wide range of durable medical equipment and provides innovative healthcare solutions that enhance lives.
The client had difficulties in calculating standard cost/internal cost for products manufactured and healthcare solutions offered. This had a huge impact on:
• Cost control – controlling the cost of materials, labor, and overheads
• Managerial planning – inability of the management to obtain information on the day-to-day control of operations
• Coordinating all functions in the organization (manufacturing, marketing, design engineering, research, accounting) and achieving business goals
• Improving efficiency of all functions in the organization by formulating standards
• Wastage control
• Formulating price and production policies