However, recent volatility has often resulted in significant management time being invested in understanding variances against standard cost that are driven largely
by non-controllable macro-economic factors rather than the more useful and value-add activities of understanding and addressing manufacturing efficiency and effectiveness.
In the light of the current climate KPMG in the UK has undertaken some global research designed to highlight the current trends and issues around standard costing. This document sets out a summary of the key findings of that research.