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How to Set and Achieve Cost Targets to Increase Profitability

Abe Chaves | January 10, 2020

Setting and achieving the right cost target is essential for increasing profit margin wherever possible while staying highly competitive in the marketplace.  Of course, a product’s cost can only be altered so much once

How This Automotive Engineering Company Developed a Cohesive Cost Reduction Strategy

Ranae Mogensen | December 18, 2019

Getting to market quickly with a high-quality product can sometimes come at the expense of a cohesive cost reduction strategy. Hailing an iconic black cab in London has long been considered a safe and

What is Design to Cost? An Overview with Examples

Dave McDermaid | December 4, 2019

For manufacturers, cost-cutting is an ever-present goal: achieving lower costs while retaining the desired functionality means higher profit margins, more market share, and happier customers. Historically, however, most manufacturers have had to resort to

How to Use Fact-Based Negotiation to Get the Best Price on Existing Components

Abe Chaves | November 6, 2019 , ,

Conducting fact-based negotiations is an effective cost reduction strategy when sourcing existing components. In this post, I will explain how to leverage a product cost management (PCM) platform to conduct fact-based negotiations and provide

What to Look for in Manufacturing Costing Software

Steven Peck | October 22, 2019

For manufacturers, inadequate cost modeling capabilities can drive serious business problems. Many manufacturers, for instance, are forced to no-bid potentially valuable work solely due to a backlog of cost estimation workflows. Traditional cost estimation

Six Key Trends and Takeaways that Affect Profitability and Time to Market

Rick Burke | February 27, 2019

We recently conducted a survey of Industry Week’s and Machine Design’s discrete manufacturing audience. The primary goal of the survey was to better understand product lifecycle trends and their impact on profitability. Many of

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