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What Is The Meaning Of ABM?
The Meaning Of ABM In English,
ABM is the acronym that stands for “Activity-Based Management”. It is a system for determining the profitability of every aspect of a business so that its strengths can be enhanced and its weakness can either be improved or eliminated altogether.
ABM also analyzes the costs of employees, equipment, facilities, distribution, overhead and other factors in business to determine and allocate activity costs.
Activity-Based Management(ABM) was first developed in the 1980s. ABM seeks to highlight the areas where a business is losing money so that those activities can be eliminated or improved to increase profitability.
ABM can be applied to different companies, including manufacturers, service providers, non-profits, schools, and government agencies, and ABM can also provide cost information about any area of operations in a business. ABM can also be useful in various processes. For example, to analyze the profitability, for the companies profitability that has opened the new office in another location, etc.
In addition to improving profitability and the overall financial strength of a company, the consequences of ABM analysis can help that company produce more correct budgets and long term financial predictions. A lot of information gathered in ABM is mostly derived from information collected from another management tool, ABC(Activity Based Costing).
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