TTA GENERAL MEMBERSHIP MEETING
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1 TTA GENERAL MEMBERSHIP MEETING Friday April 25, 2008 Embassy Suites Hotel Deerfield, Illinois April 25, 2008 TTA 2008 Spring Meeting 1
2 Antitrust Policy Reminder Minutes of Previous Meeting November 29 & 30,
3 TTA Board of Directors Executive Committee: Peter Kent - Bicron Electronics Co. Philip L. Gordon - Essex Group Inc. Bruce Thackwray - Lenco Electronics Inc. Thru 2008: Dave Anderson - Precision John DiCarlo - 3M Innovative Paper Technologies Thru 2009: Glen Collins - Tempel Steel James Tabbi - RAF / Tabtronics Immediate Past President: Terrence Wilkinson - Cramer Coil & Transformer Co., Inc. 3
4 2008 Membership: Manufacturing Members: 31 Supplier Members: 24 Safety Agency Members: 2 TOTAL Membership: Spring Meeting Attendance: 44 4
5 Financial Reports (Bruce Thackwray, Secretary / Treasurer) YTD 5
6 Communications Committee (Peter Kent): Company Profile Updates (January) Membership News (4 times per year) TTA Brochure (in folder) TTA Web Site (Meeting Presentations; BOD Minutes; Organization Updates; ITR Quarterly Updates; etc.) Surplus Materials Web Site: 6
7 Membership Committee: John DiCarlo, Chair New Members (3): Infolytica Corp. Cortran Manutech Resigned (1): Schumacher Electric Corp. Ongoing Membership Development Efforts Membership Brochure 7
8 Statistics Committee: Peter Kent, Chair Quarterly TTA Business Conditions Survey Annual Key Operating Ratios Survey Future: Annual Sales / Employee Count From all members for future planning (Confidential to Thomas Associates). Example: 8
9 TTA Statistical Information Data is from 9 to 11 Manufacturing Member Companies who Submitted Confidential Information to Thomas Associates for the Period The following presentation was taken from the totals that have been or will be sent to TTA member companies who participated in the survey. April 24 & 25, 2008 TTA 2008 Spring Meeting 9
10 TTA Statistical Information Statistical data is compiled confidentially by and seen only by the Thomas Associates statistical group only. TTA participating members receive data in summary format with graphs. Please participate so that we can generate improved data in the future. Questions Should we focus any future TTA meetings around improvement programs based on the data shown? April 24 & 25, 2008 TTA 2008 Spring Meeting 10
11 TTA Definitions of Data Supplied THE TRANSFORMER ASSOCIATION Key Operating Survey Definitions Net Sales - Gross sales less trade discounts, returns, allowances, sales tax, freight, and delivery costs. Direct Labor Cost - Cost of direct hourly labor (including incentive pay and shift premiums). Direct Material Cost - Cost of raw materials and miscellaneous outside purchases (excluding factory supplies, shipping supplies, shipping materials, packaging, etc.). Cost of Goods Sold - Cost of direct labor and direct materials, as well as manufacturing overhead. Sales, Engineering, and General & Administrative (G&A) Expense - Sales: All expenses incurred selling company products (includes expenses of salesmen and training). Engineering: Costs incurred in engineering new products, materials, or products. General & Administrative: All other general or administrative expenses not noted above. Average Total Inventory - Avg. Accounts Receivable - 12-month average of Accounts Receivable Average Number of Full- Time Employees - 12-month average of raw materials, work-in-process, and finished goods (including labor and full factory overhead). Report using FIFO method. 12-month average of total number of full-time employees. Note: To be considered full-time, an employee must have an FTE (Full-Time-Equivalent) of 1.0 or greater, where 2,080 hours represents a standard work year. April 24 & 25, 2008 TTA 2008 Spring Meeting 11
12 Technical Committee (Bob Stoll reporting) - Mitch Rhine, Chair - Jakob Jakobsson, Vice Chair UL Policy Committee Monica Gupta, Chair TTA/UL Policy Meeting Update Technical Forum Update 12
13 TTA GENERAL MEMBERSHIP MEETING 13
14 2008 Fall Meeting Location: Ponte Vedra Inn & Club (Jacksonville), Florida Dates: December 4-5, 2008 Chair: Theme: Sue Welsh, Rubadue Wire Green Initiatives 14
15 2009 Spring Meeting Location: Chicago (UL/TTA Meeting) Dates: May 14-15, 2009 Chair: Open Theme: Open 2009 Fall Meeting Location: TBD (Florida east or west coast?) Date: December 3 4, 2009 Chair: Open Theme: Open 15
16 Meeting Survey Reminder (in folder) Questions about the organization? Thank you and safe travels home. We look forward to seeing you this December 4 and 5, 2008 in Ponte Vedra, Florida 16
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1 Chapter 2 Introduction to Cost Terms and Purposes Cost A cost is the value of economic resources (e.g., money) sacrificed or used up to achieve a particular objective (e.g., produce a product or perform