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Module 2 — Factory Finance
Covers factory finance concepts used by production leaders.
What you will be able to do
Read the factory's numbers like a manager: the cost structure of making garments, cost per standard minute, budget variances, and the payback mathematics behind a machine or automation investment.
The practical work
Take one month's results for the sewing floor: list the five largest cost lines, calculate the cost per standard minute, and evaluate one machine investment with simple payback against the current cost of doing without it.
Prerequisite: Read module 1 and pass its quiz first.
Reading for this module
Read these 2 Garment Ed subjects in order, then take the quiz below.
Practical worksheet
Take one month's results for the sewing floor: list the five largest cost lines, calculate the cost per standard minute, and evaluate one machine investment with simple payback against the current cost of doing without it.
- Identify requirements and assumptions.
- Record evidence and calculations.
- Choose a decision and containment action.
- Assign an owner and verification check.
Module quiz
5 questions on Module 2 — Factory Finance. Answer them all, then check your score before moving on. 4 correct or more is a pass. Your best score is saved on this device, and to your account when you are signed in. This is a self-check, not an accredited assessment.
1. Why do factories compare styles using cost per standard minute (CSM)?
2. Which of these is a fixed cost for the sewing floor?
3. A buyer offers an order that can only be delivered with four weeks of overtime. What should the decision compare?
4. What does simple payback tell you about an investment, and what does it miss?
5. The monthly power bill is 8% above budget. What does good variance analysis do?
Structured certification
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