Product cost March 29, 2023
How an Effective Source-to-Pay Solution for Direct Materials helps in Product Success
In Product Manufacturing companies, the role Sourcing & Procurement teams play is critical in the success of a product. However, most companies do not fully understand the impact of these roles. And because of this, ...
Read more..Product cost September 25, 2022
Quotation Process: A brief Description
What happens when you are on the lookout for buying an electronic item, an automobile, or even a house? You visit multiple vendors and compare prices, and based on your needs and budget, choose a ...
Read more..Product cost September 24, 2022
Solving the Complexity Conundrum in Achieving the right Product Cost
You go to an Apple store and purchase the latest 256 GB iPhone 14 Pro Max. And its Manufacturer's Suggested Retail Price (MSRP) right off the shelf is $1199. But, the actual product cost of ...
Read more..Product cost September 05, 2022
Bill of Materials (BOM) - What it is and what are the types?
What is a Bill of Material (BOM)? What's the first thing you do when you want to buy grocery items? You make a list. It could be a list of ingredients you need to cook ...
Read more..Product cost August 11, 2022
Procurement Technology: Why it is a must for Product Manufacturing Companies?
The early 1780s can be considered as the beginning of modern manufacturing, when Oliver Evans, an American inventor, began experimenting with the first automated flour mill. And there was no stopping from there. Today we ...
Read more..Product cost May 25, 2022
Direct Material Procurement Life Cycle Guide - Part 1
The objective of this guide is to explain the Direct Material Procurement Lifecycle — details, exceptions, and complexities — in the context of product manufacturing industries. This would include companies in such industry sectors but ...
Read more..Product cost May 18, 2022
Product cost vs Procurement teams.
Across every industry, companies that have a competitive advantage are those that launch well-thought-out and well-designed products in a timely fashion. Moreover, given the market conditions of shrinking product life cycle times and consistent low-cost-high-quality ...
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