Product Costing
How will the introduction of a new bill of materials affect overall production costs ?
What is the cost incurred per product if we process work on equipment A rather than equipment B ?
How will a 3% raise for factory workers affect the total cost of products we are producing ?
What is the yield or cost variance on different manufacturing lines?
These are just a few of the questions that trouble many manufacturing decision makers. If these questions and other similar questions are estimated, or worse still, left unanswered, the results could be restricting the business' ability to realise its true profit potential.
Eyelit's Costing Application linked to your existing MES and optionally SAP can be used for calculating precise standard manufacturing costs and providing drill-down analysis.
The intuitive application permits financial planners, product engineers and managers to calculate total work in progress and track standard production costs with ease through a simple, browser-like interface. Using a combination of production modeling and condition-based analysis, Eyelit Costing will eliminate the guessing that occurs in most manufacturing processes. You can provide your upper management with not only the results but the reasons.
Eyelit Costing is designed to be independent of the Manufacturing Execution System (MES), but integrates with existing systems to allow acquisition of necessary and relevant data. The highly customizable solution helps achieve efficient bottom lines by providing precise calculation of standard manufacturing costs. Resulting financial information can be communicated back to the ERP system if necessary.
Key Features
- Can easily snap into almost any MES for part and run-time data.
- Intuitive, built-in modeling tool for configuring standard costing at all levels
- Facilitates easy and accurate calculation of standard cost for individual products, labour, direct material, overall production, etc.
- Costing models can be developed at any desired granularity (from product level down to every individual manufacturing step).
- Intuitive, flexible, configurable and extendable user interface built on Eyelit's open, proven architecture.
- Provides timely and accurate information for financial projections and budget creation.
- Becomes single source of tracking manufacturing cost standards thus eliminating the time and cost of maintaining and tracking costing information in multiple systems.
- Flexible Java™-based architecture allows Eyelit Costing to be run on several supported platforms.
- Minimal user training required due to simplicity of costing model and application itself.
Full product documentation and training material.
Key Functions
- Model information specific to your context and user requirements.
- Calculate total work-in-progress at any time.
- Assign multiple overhead costs to product, operations, process plan, etc.
- Assign cost overrides at any level (i.e. product, operation, process plan, stage, etc.)
- Drill down into processes, stages, operations to analyze cost breakdown.
- View and print pre-defined or user-defined reports and tables, such as reports on WIP, Yield Variances, Raw Material, etc.
- Create "what if" scenarios for impact analysis of cost changes.
- Perform comparative analysis between cost models
- Run historical cost runs
- Users can export data into Excel and HTML documents, while the built-in modeling tool allows easy graphic development of abstract scenarios for impact analysis of cost changes.
Written in Java™, Eyelit Costing provides an open software architecture that allows the software to be run on a variety of Operating Systems including Microsoft Windows, Unix and LINUX.