Financial Planning for Manufacturing

Financial Planning for Manufacturing

Increase Production Cost Efficiencies

At ProStrategy we have years of experience in successfully implementing IBM Cognos Business Intelligence Analytics Solutions for our customers in the Manufacturing Sector. We have drawn on this experience identifying the best features from each of our implementations to create a set of Financial Performance Management tools to Increase Production Cost Efficiencies with Financial Planning tools – specifically for the Manufacturing Industry.

Financial Planning for Manufacturing Release:

The Manufacturing Financial Planner is a solution developed on the IBM Cognos Planning Analytics Technology Platform.   This Solution is aimed at producing a planned cost of goods sold for manufactured products.

This Solution offers exceptional benefit to organisations that are exposed to raw material price variances with the ability to analyse the impact of price variances with on the fly “what if” scenario modelling capabilities.

 

Get Started with Financial Planning for Manufacturing

  • Sales Planning:+

    Planning for:

    • Volume, Free goods
    • Price lists (gross revenue)
    • On and off invoice discounts
    • Accruals for off-invoice discounts
    • Gross revenue and on invoice adjustments

    by:

    • Product Categorisation with allocation to SKU
    • Customer group
    • Time Period
  • Manufacture Cost of Goods Sold:+

    • BoM loaded from the underlying source system
    • BoM for NPDs can be entered directly to Application
    • RM prices and purchase prices of 3rd party finished goods can be planned in the origin transaction currency, the application will report FX exposure
    • Reporting planned and actual usage and production spending by plant, sku, currency, and RM code within one cube
    • Ability to export calculated standard costs for use in other systems
    • Two options are catered for with Manufacturing Overhead Planning;
      • Option 1: Unit cost rates are imported from external system where exact rates are calculated by production line (for example in the SAP CO module)
      • Option 2: The total expense amount is planned in the application and is automatically allocated to SKUs based on different drivers like production volume, production run time etc.
    • COGS calculation; based on the spending rates the system calculates COGS by multiplying sales volume with spending rates
    • COGS adjustments
    • COGS allocation to the components of the rainbow or mix-pack products
  • Operating Expenses & P&L:+

    • OPEX planning by cost centre, GL account code, and subaccount
      • Subaccount can represent a customer so that L&D costs can be collected by customer
    • Advertising and Marketing expense planning by cost centre, GL account, and by brand
    • Cross Charges between cost centres
    • Loading Gross Margin lines from Sales and COGS modules to the P&L
    • For OPEX lines, allocation from CC and GL accounts to P&L lines
      • Plan P&L at customer SKU level
      • Allocation of data based on
        • Financial drivers, like revenue
        • Volume
        • Other non-financial drivers, like the number of sales reps, number of coolers, number of routes in a channel, etc.
      • Allocation can be restricted to certain type of customers (i.e. certain distribution costs are allocated only to centrally delivered customers
    • P&L reporting by SKU, customer, and sales channels
  • Version Management:+

    • Numerous budget, forecast and actual scenarios
    • Scenario archiving
    • Scenario comparisons like BUD vs FCST, ACT TY vs ACT LY, etc
    • Ability to freeze scenarios so that users cannot overwrite
    • Initialize a new scenario from any previously completed scenario

See Financial Planning for Manufacturing in Action

Experience how Financial Planning for Manufacturing will open up access to the critical information which really matters to your business and help you make better decisions.

We are offering you a customised Demo Experience where you will see at first hand how Financial Planning for Manufacturing will help you to Increase Production Cost Efficiencies and transform the way you do business.

 Experience Dynamic & Powerful Financial Planning designed specifically for the Manufacturing Sector. 

Who Should Register for this Free Demo ?

Management, Finance & Operations.

Just complete the form below and we’ll be right back

or Contact Aileen Aherne on 1890 886675 aaherne@prostrategy.ie

Submit Your Fiancial Planning for Manufacturing – Demo Request Now

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