How to minimize labour costs by optimal production volume allocation
Free
10 minutes
English

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Description

The content focuses on minimizing labor costs through optimal production volume allocation. It starts by discussing the importance of budget season and the need for cost savings within a GMF operation. The conversation then turns to the concept of leveling labor hours across different months, with the ultimate goal being to achieve minimum labor costs. A detailed model setup is presented, showing how to calculate ideal labor combinations. This involves accounting for factors such as full-time staff availability and absenteeism. The content also touches upon the importance of considering production demand when allocating labor hours. By optimizing production volume allocation, businesses can reduce their temporary staffing costs. A step-by-step approach is followed, making it easier for viewers to understand and apply the concepts presented. learn more

Professions

Supply Chain Manager Project Manager Production Manager Operations Manager Logistics Coordinator Inventory Manager HR Generalist Fiscal Officer Financial Controller Financial Analyst Data Scientist Cost Accountant Business Analyst Accountant

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