Digital Costing Systems Flashcards
1
Q
What is a digital costing system?
A
Systems to allow us and support us with our costing. This involves Linking internal system with those of suppliers customers and the external market.
2
Q
Advantages of digital costing systems
A
- real time and up-to-date information for example cost of materials
- Access to a wider variety of resources
- Reduced operational costs
- All allows a better understanding of costs
- More accurate costing and pricing
- Improved communication for fast decision making
- Improved cost control as can compare different suppliers and choose cheapest
