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what is relation betweeen IT and cost of manufacturing ?

what is relation betweeen IT and cost of manufacturing ?

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Answer #1

IT plays a very important role in production process and determining the cost of an industry. It also helps in decision making process. Management has to ensure the control over operations, processes, activity sectors, and not ultimately on costs. Although in reaching the goals of an organization compete many control systems (production control, quality control and stocks control), the information system is important because it monitors the results of the others. The detailed analysis of costs, the calculation of production cost, the loss quantification, the estimating of work efficiency provides a solid basis for the financial control.

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