Lean Accounting for the Lean Enterprise
Early on, many businesses that begin a lean journey struggle to show positive financial results of improvement. Savings reported by lean leaders are not reflected in P&L statements. Unabsorbed overhead increases. Losses appear to increase.
This course will help you understand why this occurs and what you can do to report your financials in a way that is realistic, financially sound, and provides evidence of lean's true impact in providing better value for customers and competitive advantage for your company.
Topics covered in this workshop include:
- Learn why traditional financial accounting does not support the Lean Thinking
- Understand the mechanics of how lean implementation can punish the traditional Profit and Loss Statement
- Learn how Accounting for Lean supports Lean and enables better business decisions
- Discover the benefits and methods of identifying and eliminating wasteful financial transactions
- See why Value Stream Costing is more accurate and efficient than traditional Standard Costing methods
- Learn about Lean performance metrics, and their role in Lean Accounting and how they support the drive toward shorter lead times, optimized work-in-process, and improved customer service
- Examine successful Lean Thinking transformations, including the successful application of Lean Accounting tools and principles
- Learn the relationship between Lean Manufacturing and Lean Accounting through an interactive classroom simulation that demonstrates how lean improvement can impact financial statements
- Gather proven lessons-learned and implementation recommendations
Your instructor for this engaging two-day workshop is Jerry Solomon, Vice President of Operations of MarquipWardUnited-Hunt Valley, a division of Barry-Wehmiller Companies, the Western Hemisphere's leading packaging automation and converting group.
Previously, Mr. Solomon has simultaneously held the positions of CFO and VP of Manufacturing at three mid-market manufacturing companies. In these roles, he was able to apply Lean Thinking to both the manufacturing and accounting operations, affording him multiple unique perspectives on Lean Manufacturing and Lean Accounting.
Mr. Solomon is the author of Who's Counting and the co-author of Accounting for World Class Operations: A Practical Guide for Providing Relevant Information in Support of the Lean Enterprise. Both books won the prestigious Shingo Prize for Research in 2004 and 2008, respectively.
This workshop is best suited for leaders in operations or accounting.
Registration includes breakfast and lunch meals and afternoon refreshments.