What is ISO 14051?
The international standard ISO 14051 establishes a framework for material flow cost accounting. Material Flow Cost Accounting (MFCA) is an Environmental Management Accounting method that reduces environmental consequences while providing financial benefits, according to its definition. Using mass balances, the MFCA study reveals a material loss in manufacturing operations. MFCA applies to all materials and energy-using enterprises and organisations, regardless of their size, structure, products, services, or location.
Why is Material Flow Cost Accounting important for you?
Manufacturers and other enterprises are under increasing pressure to decrease environmental consequences while also increasing efficiency. Obtaining a Material Flow Cost Accounting certification will assist your company in determining the value lost due to material losses and allocating expenses in a production system to both products and material losses.
MFCA will also assist you in better understanding the environmental and financial implications of your material and energy practises. At the same time, your company will get useful information that will aid in internal decision-making about material flow-related steps that are effective in lowering environmental impacts and costs.
Benefits of ISO 14051 Material Flow Cost Accounting
- Obtaining a certification in Material Flow Cost Accounting will allow you to:
- Improve the organization's environmental and economic performance.
- Increase the efficiency of your resources and your business.
- Increase in importance and relevance
- Analyze the material losses in your company's supply chain.
- Coordination and understanding of material and energy utilisation should be improved.
- Encourage a culture of resiliency.