What is ISO 14051?
ISO 14051 provides a general framework for material flow cost accounting. By definition, Material Flow Cost Accounting (MFCA) is an Environmental Management Accounting tool designed to reduce environmental impacts, while generating financial benefits. The MFCA analysis shows a material loss in production processes by using the instrument of mass balances. MFCA applies to all businesses and organizations that use materials and energy, regardless of their size, structure, products, services, or location.
Why is Material Flow Cost Accounting important for you?
Nowadays, manufacturers and other businesses are pressured to reduce environmental impacts and at the same time increase their productivity. Obtaining a Material Flow Cost Accounting certification will help your business to identify the added value you lose as a result of material losses and distribute the costs in a production system to both products and material losses.
Furthermore, MFCA will help you enhance your understanding of the potential environmental and financial consequences of your material and energy practices. At the same time, your organization will gain valuable information that can contribute in the internal decision-making process regarding material flow-related measures that are suitable for reducing environmental impacts and costs.
Benefits of ISO 14051 Material Flow Cost Accounting
- Obtaining a Material Flow Cost Accounting certification will enable you to:
- Improve the environmental and economic performance of the organization
- Enhance resource and business efficiency
- Grow in relevance and importance
- Visualize material losses within your organization’s supply chain
- Improve the coordination and awareness regarding material and energy usage
- Promote a culture of sustainability