Published: 18 January 2024
This Consult the Board survey summary features perspectives from 10 Gartner Research Board for Global CIOs members regarding their approaches to optimizing investment and improving outcomes of product costing process. It examines the types of costing members use for reporting and measurement, the various systems they deploy for product costing and modeling, and the status of incorporating AI/ML modeling into the costing process.
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Only three (of 10) respondents manufacture a product and all of them use a combination of standard and actual costing for reporting and measurement purposes.
Two (of 3) respondents update the standard costs on a quarterly basis.
All respondents (3 of 3) include raw material procurement costs, bill of material updates, resource costs, and plant utilization costs in their periodic updates to standard costs.
All respondents (3 of 3) use enterprise resource planning (ERP) systems for product costing, modeling, and/or prediction.
All respondents (3
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