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Manufacturing Case Study - Added Value
One of Our Clients is a small Manufacturing company in Bedfordshire.
When we first started working with the client there was minimal ways of recording direct tooling costs. It was expected that the high cost of tooling was borne because of the material being machined.
We created for the client a Spreadsheet which recorded the number of tools used each period and multiplied this by the cost of each tool. This is then used against the number of parts produced for comparison. This spreadsheet was nothing special just a timeline of stock held in excel which tracks usage over each period.
This solved two issues:
  • Accounting requirements at Year end were kept up to date with accurate stock takes with costing which streamlined the process
  • Usage during the week can be tracked and put against how many parts were created.
The second part of the above was more useful as it showed the tooling would go up and down irrelative to the amount of parts created. For example sometimes production would go down in the week but tooling cost would go up.
By working with Elite we found some of the material should have been rejected due to hardness. We also found tooling was being scrapped too soon by employees. This resulted in training for the employees on tooling usage and an inspection of the material for hardness. The spreadsheet was then used to keep track of the future developments and to spot issues before they occur.
This small change saved the company 50% of their direct tooling costs and more than paid our accountancy fee each year. We added value to the business and that’s what we aim for when entering into relationships with clients.

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