Like you, many companies struggle to accurately measure, maintain and communicate cost estimates. Frequent changes to the bill-of-materials, part designs and suppliers make this an extremely difficult task. Adding to that challenge is the fact that sources of cost data are scattered across multiple systems and disconnected from product information. And, the scarce subject matter experts who can perform these estimates often lack the bandwidth for these highly manual and time-consuming processes.
Launching products that exceed cost targets can be detrimental to your business. Product margins can suffer because key stakeholders are making decisions without understanding the cost impact of design changes. As a result, valuable engineering time is spent gathering and validating data for cost roll-ups and supporting post-launch value engineering cost reduction activities.
By standardizing product cost management processes and making cost analysis available to the enterprise, you gain visibility into cost roll-ups and cost drivers early in the product development process when cost decisions have the greatest impact. The cost of design options can then be fully understood and estimates can be reused for faster roll-ups against different product configurations.
The most successful companies reduce product costs by transforming one or more of these key processes:
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