Ludwigsburg, 23.10.2015 – Technological progress is the mega-trend which, in the view of companies, will have the greatest effect on their future profitability – both with regard to sales and earnings, as well as costs. This is the result of the study on "Future Profitability – Influence of global mega-trends on product costs and competitiveness", which MHP presented yesterday (22.10.2015) in Ludwigsburg. MHP asked 129 decision-makers – primarily from the automobile industry and machinery and plant construction – how they assessed current developments and how they were dealing with them.
One particular area of focus of the study was product costs management. Here, it is astonishing that, although over 80 per cent of the respondents are of the opinion that, in view of the current mega-trends, product costs management is of strategic significance, at the same time 94 per cent of participants stated that, with regard to this topic, there was considerable potential for optimization in their companies. In particular the areas of data quality, IT support and reporting were of concern to those surveyed.
Bernd Schröder, Associated Partner at MHP and an author of the study: "Product costs management has been neglected by many companies in recent years. Understanding for a consistent approach across departments is an absolute rarity. The existing IT hardly offers any support, countless redundant Excel solutions frequently dominate. However, we can also read from the results that something is currently undergoing change. The mega-trends are generating pressure that the companies are consciously aware of. Whoever adapts fastest and most efficiently to the new circumstances can gain considerable advantages."
Bernd Schröder is gladly available for further information and interviews on the study and the theme of product costs management (bernd.schroeder@mhp.com; +49 (0)151 2030 1793).
You can find the complete study and a summary of the results here: <link 241 - internal-link "Opens internal link in current window">> To the study</link>
