“Carnegie also insisted on railroad-style cost accounting… His monthly reports carefully spread labor costs… tracked all raw material inputs and percentage of waste… competitors literally had no idea what was going on inside their own company.”

Founders · #437 The Tycoons: Carnegie, Rockefeller, Gould & Morgan

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Implemented railroad-style cost accounting with monthly reports tracking labor, raw material inputs, waste, uptime and idling of plant components

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