Apparel Industry Management

Apparel Industry Management 3(3+0)

Lesson 9 : Management Aids

Statistical and Cost Control

Statistics are an obvious concomitant of all management functions, even if they comprise, in the first stage, only a report at the end of the week of total production, wages paid, sales effected, etc. The step from this to the use of statistics as a cost-control aid is a very small one, since, for example, production figures related to wages cost for that production and compared each week produce a control figure.

To move from this point to comparing and thereby forecasting and controlling the whole of a company activities in term of sales and production planning, costing and standard costs, budgetary control for purchases and stocks, financial planning in the form of cash budgets, comparative statistics of performance, etc., is a natural sequence.