Are you tasked with making organizational decisions that have placed you in a major dilemma? As a decision-maker in today’s fast-paced economy, you must wonder how you can cut costs, improve the bottom line, and still maintain the data quality necessary to make strategic decisions.
This post corresponds to the webinar “Connecting the Value of IT: A Disciplined Solution for Service Costing and Chargeback,” the last in our “Let Your Profitability Soar” webinar series. You can access the recording here.
EPM, Hyperion, Hyperion Profitability and Cost Management, Oracle, Oracle Hyperion, Oracle Profitability & Cost Management Cloud S, PCMCS, Performance Tools, Uncategorized, manufacturing, profitability
This post corresponds to the webinar “Full Circle Planning, Cost Management & Profitability in the Manufacturing Industry.” You can access the recording here.
As we are all aware, today’s manufacturing industry faces multiple ongoing challenges, including:
Nearly every client Edgewater Ranzal partners with uses statistical averages in their analytic and reporting solutions. As far as statistical functions go, it is probably the easiest to understand, however; the limitation of using the average is that it can be difficult to determine how to rate the individual performance of contributors to that average. Consider the following examples:
Recently, Ranzal has been working with a client in the healthcare space implementing Oracle Business Intelligence (OBI), and a requirement surfaced to translate a scorecard report into an OBI dashboard. One of the data elements was simply captioned “Trend” and colored red, yellow, and green. It was discovered that this Trend was the slope of a linear regression plot (more on what that means in a moment) and the color was based on an arbitrarily chosen number. This immediately raised some concerns from the Ranzal team who then made some suggestions for more pertinent statistical analysis.
With the introduction of Hyperion Profitability and Cost Management (HPCM), many organizations have recognized the power of this breakthrough solution to build sophisticated and powerful cost models. As such, HPCM has been successfully in use for several years, and in numerous cases, its use has been expanded.
A common need among manufacturing organizations is improvement in the process of developing annual labor and overhead standards to use as input into standard cost rates for product cost and inventory valuation. In spite of the investments that have been made in ERP solutions, it is typically an offline Excel-based exercise that is required to take historical data from the ERP to determine the updated direct labor rate & overhead rate components of a product standard cost for an upcoming fiscal year. The release of Oracle Profitability and Cost Management-Cloud Service (PCMCS) in October 2016 provides a unique opportunity for manufacturers to ease, streamline and document the process of generating the cost-per-direct labor hour or cost-per-machine-hour rates that are requisite in standard costing.
BI, BI Reporting, Data Visualization, Edgewater Ranzal, edgw, Enterprise Performance Management, EPM, EPMA, Hyperion, hyperion experts, OBI, OBI Publisher, OBIEE, Oracle, Oracle Business Intelligence Enterprise Edition, Oracle EPM, Oracle Hyperion, ranzal, Uncategorized, Visual Analyzer