Measuring costs and the value of time in metal fabrication

Tim and Caleb discuss cost and time management in metal fabrication and job shop operations. They talk lean manufacturing, cash flow, margins, different approaches to cost accounting, and the importance of managing overhead costs. The conversation also touches on topics such as inventory, direct costs, remnant management, and the use of automation in the fabrication process.

They reference two books on the topic: Rebirth of American Industry: A Study of Lean Management by William H. Waddell and Norman Bodek as well as The Monetary Value of Time: Why Traditional Accounting Systems Make Customers Wait by Joyce Warnacut.

Email Tim and Caleb at [e-mail] with any comments or questions. Learn more about The Fabricator's Tech Summit.