Materials Cost Analysis Report for a Manufacturing Plant
What is a Materials Cost Analysis Report?
Materials cost reports are considered production analysis tools and are used by production- and plant managers to analyze monthly trends in the various material costs involved in their manufacturing process. Some of the main functionality in this type of dashboard report is that it is parameter driven and has charts on the top of the report and figures below that (not visible in screenshot below). There are four KPI charts, each with monthly cost trends: 1) Raw materials inventory trend, 2) Intermediate inventory trend, 3) Work in progress trend, and 4) Finished goods trend. You find an example of this type of dashboard report below.
Purpose of Materials Cost Reports
Manufacturers use Materials Cost Reports to easily monitor trends in the costs going into product manufacturing. When used as part of good business practices in a Production department, an organization can improve its production efficiency and data collection as well as reduce the chances that lack of benchmarking and analysis lead to competitive disadvantages.
Materials Cost Report Example
Here is an example of a Materials Cost Report with monthly trend charts for raw materials, inventory, WIP and finished goods.
You can find hundreds of additional examples here
Who Uses This Type of Dashboard report?
The typical users of this type of dashboard report are: Production managers, product managers.
Other reports Often Used in Conjunction with Materials Cost Reports
Progressive Production departments sometimes use several different Materials Cost Reports, along with production dashboards, inventory reports, costing reports, benchmark dashboards and other management and control tools.
Where Does the Data for Analysis Originate From?
The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.
In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards?
Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
- View 100’s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
- Read more about Manufacturing solutions here
- See how reports are designed in a modern report writer using a cloud-connected Excel add-in writer
- Discover how the Solver CPM solution delivers financial and operational reporting
- Discover how the Solver CPM solution delivers planning, budgeting and forecasting
- Watch demo videos of reporting, planning and dashboards