AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Wyce Group, an engineering and management support services firm, is offering a new method of measuring improvement in businesses. According to Eduardo L. Pietri, managing partner of the Wyce Group, firms are constantly implementing programs that will help them meet customers changing demands while at the same time reduce operating expenses. However, many of these programs forget the importance of profits.
"No matter how good a product is or how low its production cost," said Pietri, "if the company does not make enough profit to recover from its investment it will cease to exist."
Cost accounting was developed at a time when companies made fewer products. in …