Analysis and Standardization of Cost of Goods Manufactured in the Pharmaceutical Holding Company to Support Strategic Decision-Making
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Anugrah Wardhani*
Etty Gurendrawati
Unggul Purwohedi
The Pharmaceutical Holding Company was established to strengthen the national pharmaceutical industry and reduce reliance on imported Active Pharmaceutical Ingredients (APIs), yet its three subsidiaries entered the group with differing cost accounting systems and structures. This study employs a project-based research approach with a descriptive-quantitative design, drawing on data from a COGM standardization project conducted at the Pharmaceutical Holding, collected through documentation review, focus group discussions, and site visits. The findings indicate that COGM disparities between PT ABC and PT DEF for intersecting products are largely attributable to differences in cost scope, Cost Center structure, and conversion cost allocation methods, rather than genuine differences in production efficiency. The study also reveals significant disparities in production capacity utilization across entities, providing a concrete basis for holding-level strategic decisions on production order reallocation and capacity investment planning. The standardization of direct material and conversion costs formulated in this study is shown to produce a more equivalent (apple-to-apple) basis for comparing COGM across entities, and to provide more relevant information for holding management in strategic decisions related to long-term pricing, unit performance evaluation for identifying centers of excellence, and cross-entity investment/capacity allocation. This study recommends establishing the COGM standardization guideline as an official holding cost accounting policy, accompanied by a cross-entity ERP data integration strategy to support ongoing cost consolidation and monitoring in support of holding-level strategic planning.
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