Pricing that is profitable yet competitive is the Holy Grail in the manufacturing industry. To attain it, manufacturers must accurately estimate the costs associated with making products – a difficult task when you must account for all the various factors that can influence costs such as materials, labor, location, and special machinery requirements – and even more so when dealing with product configurations. Cost estimating is both an art and a science, akin to reading the tea leaves to extract the true costs involved across all manufacturing process.
One manufacturer that has cracked the code on accurate job costing is Companion Systems, a leading provider of ATM signage and branding. Challenged with managing the company’s growing number of product variants and offering the right product to meet each customer’s needs with accurate and competitive pricing, the company developed an effective strategy regarding product configuration and cost management to produce accurate job costing and quotations that are “right on the money.”
If you’re looking for greater profitability, and improved efficiency and accuracy in cost estimating, be sure to attend the Getting it Right on the Money: Best Practices in Job Costing session at the IMTS Industry & Technology Conference on Friday, Sept. 17 at 10 a.m. in Room W193B.
Visit Epicor at IMTS 2010 in Booth E-3851
Posted by Frank Martell, Manager, Product Marketing, Epicor