The operational strategy most effective in achieving world-class performance is lean. Unfortunately, accounting can be an obstacle to the lean journey as traditional performance metrics are not aligned with nor promote lean behavior. Operations professionals achieve great gains on the production floor but are surprised when there is little evidence of improved operating results.
Manufacturing must understand why improving flow, reducing inventory, improving customer service and creating capacity will potentially lower earnings. Manufacturing must be able to explain this, in advance, so accounting is not surprised when quarterly results are prepared. Accounting and manufacturing must work together to develop new metrics and "plain English" financial reporting. This class will illustrate the changes required based on 30 years of leading such changes. Learn how to make a complete lean transformation in this two-day workshop—both on and off the shop floor.
Siemens-Healthineers is a leader in laboratory diagnostics, medical imaging, clinical IT and medical infrastructure. With more than 45,000 employees in 73 countries worldwide, Siemens Helathineers is the biggest supplier of healthcare infrastructure in the world, with more than 209,000 patients every hour benefiting from care based on Siemens technology and equipment. The company aspires to become the trusted partner of healthcare providers worldwide to help drive their clinical excellence, operational efficiency and profitability. siemens.com
Jerry Solomon has more than 35 years of experience working in a variety of industries where he has held the positions CFO and vice president of operations. He led lean transformations achieving dramatic improvements in inventory turns, lead-times, customer service, income and cash flow. Solomon is also a founding thought leader and subject matter expert in lean accounting and has been teaching lean accounting for the last decade. He has authored three lean books: "Who's Counting?" and "Accounting for World Class Operations" and "Leading Lean." "Who's Counting?" and "Accounting for World Class Operations" are both recipients of the Shingo Prize.
8:00 a.m. - 9:30 a.m. Introduction to Lean
9:30 a.m. - 10:00 a.m. Lean Success Stories across industries
10:00 a.m. - 1:00 p.m. Lean workshop including preparation of financial statements, both tradition and "plain English"
1:00 p.m. - 2:00 p.m. Lean tools primer
2:00 p.m. - 3:30 p.m. Challenges and pitfalls of traditional cost accounting
3:30 p.m. - 4:30 p.m. Lean accounting and accounting for lean
8:00 a.m. - 9:00 a.m. Value Stream formation and challenges
9:00 a.m. - 10:00 a.m. Financial impact of a successful lean conversion
10:00 a.m. - 11:00 a.m. Case study of a lean accounting conversion
11:00 a.m. - 1:00 p.m. Lean budgeting and rolling forecasts
1:00 p.m. - 2:00 p.m. Organizational and cultural impact of Lean
2:00 p.m. - 2:20 p.m. Impact of lean on public company financials
2:30 p. m. - 3:00 p.m. Box scores
3:30 p.m. - 4:00 p.m. Accounts payable Kaizen
4:00 p.m. - 4:30 p.m. Road map for transition
- Understand why shop floor improvements will likely be invisible to accounting
- Understand why current metrics will not illustrate lean improvements
- Learn about what manufacturing practitioners can do to create an alliance with accounting
- Understand why your company's cost system likely promotes non-lean behavior
- Learn to value inventory in a lean environment
- Learn to calculate costs without a standard cost system
- Learn to construct "plain English" profit and loss statements that all associates can truly understand
- See how lean tools eliminate waste and transactions in accounting and free up accountants to be strategists and consultants to the value streams
This course will benefit all areas of the business, as the entire team needs to understand the scorecard of the business and how to motivate lean behavior. While accounting professionals will gain a great deal, it is strongly encouraged that manufacturing, product development and CI associates come as a team to build a plan going forward that makes sense for the entire company. This event will also benefit:
- Plant managers
- Continuous improvement professionals
- Directors of finance
- Operations managers
You can become an AME member during the registration process for $150 per year and obtain the discounted AME member rate for this event. Your membership will also entitle you to a registration discount for all future AME conferences, seminars, workshops and webinars for one year. Additionally, you will receive a subscription to the award-winning Target magazine and much more.
Payment or purchase order must be received by the AME office five days prior to the event start date. If no payment or PO number is received, you will be asked to pay with a credit card or check at the event before entry.
Cancellation Policy: Enrollment fee less a $100 non-refundable registration charge will be refunded up to one week before the event. Substitutions may be made up to three days prior to the start of the workshop.
Notes: This event may be cancelled by AME for any reason. AME is not responsible for incidental costs incurred by registrants. By registering for this meeting, I hereby acknowledge and agree that AME or its agents may take photographs of me during events and may use those photographs for AME’s purposes, including but not limited to news and promotional purposes, without further compensation to me.