Production Timing: Job costing software called TurboTime.
Here is an example of when job costing software is very useful:
A factory owner pays his staff to work 40 hours per week with 15 hours overtime pay. But in a particular week, 32 hours of overtime is allocated to works orders.
Question: What happened during all these extra hours?
If this company’s forty employees are only sixty percent productive, the business owner is losing money.
Have you ever measured the actual cost of lost production time at your company? Many companies worry about the issue of productivity, but don’t know just how big this problem is, or how to start the process of measuring lost production.
Using job costing software is the only way to get a reliable and fair report on your workplace activity.
S.A.S. advocates the use of biometric data capture terminals in combination with handheld barcode scanners to digitally read your job data. Many years of experience have taught us the hard way that entered manually via a keyboard can be inaccurate. A combination of software and scanners is without doubt the solution of the future.
|TurboTime job costing software can be suitably tailored to meet your specific company’s needs. How does inaccurate job costing or production timing affect your company? Despite advances in technology, many companies still use the old “key in and guesstimation” method to calculate just how much time is needed to complete any given job. This rough edge guestimate is the basis for most of their customer’s quotes. If this inaccurate quote is accepted, then the works order is also based on this guestimate. If you get this estimate wrong and underestimate the amount of time required to complete a particular job, it will mess up the way you allocate resources, possibly attract customers who cannot actually afford your services and, most importantly, negatively affect your profit margins. If you are “guestimating,” you may be losing money on every quote. Over-estimating is also a concern. It may chase away many profitable customers and earn you a reputation for being far too expensive in the market-place. TurboTime job costing software have a solution that will work for you.|
|What is Production Timing: The ability to measure the time taken to manufacture a product from START to FINISH.
A Production Timing Solution like TurboTime allows you to move forward.
You can now ask questions of your staff to find out WHY a particular job took longer to complete than was practically expected:
Whatever the problem, job costing will bring all this information to your attention and allow you to find a practical solution.
Hindsight gives you 20-20 vision.
In time, as you gather additional data, you can adjust your quotes to make these quotes much more accurate, and therefore reduce your risk.
Job costing software also helps you to communicate and negotiate with your employees and ask them to be more accountable for their work time.
For example, if an employee forgets to clock off on a job, TurboTime Job Costing will issue a report: Missing clock, Short time. So, please explain?
|How Production Timing Helps Your Company: It gives your company the ability to accurately measure just how much time was used to complete any given Work Order, versus mere guessing.
Want more info or interested in a detailed online webinar?
Contact us to view a more detailed TurboTime PowerPoint Presentation: 0421-718-277
- Job Costing is a critical activity to then be able to accurately do quotes. (jobcosting.wordpress.com)