The research will investigate current product costing practices of hardwood component producers, then update those practices using state-of-the-art knowledge and disseminate this information to the industry.
“Today’s global markets and international competition require companies to continuously improve their ability to manage their business,” said Steve Lawser, executive director of the WCMA. “Accurate and timely product costing is critically important for companies in planning the optimal utilization of company resources. Hardwood product manufacturers that do not have an integrated and accurate product costing system upon which to base their product line and pricing decisions will continue to lose business and profits in the global marketplace. Such a decline of an important segment of the hardwood value chain would further reduce economic prosperity in rural areas, increase unemployment and decrease incentives to maintain healthy forests.”
The WCMA represents 150 U.S. and Canadian manufacturers of dimension and wood component products used in cabinets, furniture, flooring, building products and more.
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