Analysis & Decision Making in Lean Companies
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$129.00
$129.00
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An Introduction to Lean Economics & Accounting
Meets on Tuesday, April 27 from 1 PM to 5 PM EST
The financial impact of a lean strategy is well known – all we need to do is look at the many companies that have been successful in their transformations. We know that focusing an organization on customer value will result in revenue growth and that the deployment of lean tools and techniques that create flow and eliminate waste will result in improved cost management. These are the economics of lean.
In any company embarking on a lean transformation, in any industry, the definition of relevant and reliable information for analysis and decision-making will change in some form or fashion. A lean transformation also has an impact on the types and frequencies of analytical practices and accompanying decisions. Another way to say this is a lean transformation changes what internal customers value from a management accounting system.
For any decision-maker, information must be both relevant and reliable. Relevant information improves decision-makers’ capabilities to predict future outcomes or provide more accurate feedback of performance. For information to be relevant, it also needs to be delivered in a timely fashion. Reliable information represents reality at the time an analysis is performed and the quality (accuracy) and lack of bias in the analysis can be counted on.
To achieve success, a lean organization must develop an effective and efficient management accounting function that complements its financial accounting system to provide a knowledge base for effectively making decisions about the future (this is critical because the focus of financial accounting is on past activity). Lean accounting makes relevant information available to decision-makers on a timely basis.
In this workshop, you will learn through presentations and exercises:
The Economics of Lean
The relevant and reliable information needed to analyze the impact of lean and Continuous improvement
How to leverage lean for financial success
Standardized work for analysis and decision-making
Meets on Tuesday, April 27 from 1 PM to 5 PM EST
The financial impact of a lean strategy is well known – all we need to do is look at the many companies that have been successful in their transformations. We know that focusing an organization on customer value will result in revenue growth and that the deployment of lean tools and techniques that create flow and eliminate waste will result in improved cost management. These are the economics of lean.
In any company embarking on a lean transformation, in any industry, the definition of relevant and reliable information for analysis and decision-making will change in some form or fashion. A lean transformation also has an impact on the types and frequencies of analytical practices and accompanying decisions. Another way to say this is a lean transformation changes what internal customers value from a management accounting system.
For any decision-maker, information must be both relevant and reliable. Relevant information improves decision-makers’ capabilities to predict future outcomes or provide more accurate feedback of performance. For information to be relevant, it also needs to be delivered in a timely fashion. Reliable information represents reality at the time an analysis is performed and the quality (accuracy) and lack of bias in the analysis can be counted on.
To achieve success, a lean organization must develop an effective and efficient management accounting function that complements its financial accounting system to provide a knowledge base for effectively making decisions about the future (this is critical because the focus of financial accounting is on past activity). Lean accounting makes relevant information available to decision-makers on a timely basis.
In this workshop, you will learn through presentations and exercises:
The Economics of Lean
The relevant and reliable information needed to analyze the impact of lean and Continuous improvement
How to leverage lean for financial success
Standardized work for analysis and decision-making
