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Air Date: March 20, 2014
Presenter: Rob Campbell of The Mironov Group
Program Length: 80 minutes
Practical tips on how to get a firm grip on these troublesome and profit draining accounts. Shrink the pile!
Unapplied labor hours means you either did not sell the time (which of course is now no longer saleable), or the accounting is not tight and efficient.
If you have larger than acceptable WIP or Unapplied Labor or those accounts are growing rather than shrinking, then this Online Workshop is for you.
Rob Campbell will share with you his process for identifying the problems, finding the profit leaks and then plugging them.
You Will Learn:
- How adjusted costs impact your profitability and gross retention
- The five primary causes of a growing WIP account
- How to identify and understand the interaction of all the accounts involved and how they should function
- How to get to the bottom of WIP and trace the source of errors
- What systems are available to help minimize Unapplied Labor
- How to make the right decisions on WIP write-offs, reductions and other corrections
- How to whittle the WIP and Unapplied Labor problems down to size and save the bottom line.