New Cost Maturity Index Helps Optimize Product Profitability
Measure How Your PCM Strategy Compares to Industry Competitors
CONCORD, MA – January 10, 2019 – – aPriori, a leading provider of product cost management (PCM) software featuring Design for Manufacturability and Cost (DFM/DTC) solutions, announced today that a new online Cost Maturity Index (CMI) tool is available at no charge for any manufacturer that wants to optimize their product profitability. The CMI also provides valuable insight into how your company’s PCM system compares to other best-in-class deployments from your industry.
Leverage Decades of Experience
The CMI is an assessment tool that combines decades of experience over hundreds of cost management software implementations, anonymized customer feedback, and in-depth industry research on the critical factors leading to a successful roll-out and continued success. This tool measures an organization’s product cost management maturity across domains that directly impact success:
- Charter: Having a clearly defined charter that is supported by an executive sponsor is foundational to the success of an implementation. Best-in-class charters include a business case, problem statement, expected benefits, defined scope, and team roles and responsibilities.
- People: Software is generally intended to increase efficiency and provide broader capability to the masses. Understanding the existing expertise within your organization and how it can be best leveraged to support a deployment is a key determinant of success and long-term adoption.
- Process: Business processes are key to achieving organizational objectives and ensuring consistency. Without an understanding of the existing process and a clearly defined impact plan to support a new technology churn and variation in outcomes are a certainty.
- Tools: aPriori’s PCM software generates and stores an unprecedented amount of data. Understanding how this data needs to be formatted, shared with the organization (or other tools), and ultimately used to drive business decisions is a key consideration and must be carefully planned.
“Helping our customers improve product profitability and accelerate time to market requires alignment with a strategic business initiative and careful consideration of how our technology fits within their unique environment,” commented Stephanie Feraday, President and CEO at aPriori. “Our Professional Services team has invested hundreds of man-hours into identifying, documenting, and promoting best practices that lead to a successful product cost management deployment. The Cost Maturity Index is a way for us to pinpoint specific areas for improvement and increase the probability of achieving maximum return on investment for our customers.”
On average, the CMI assessment takes about 5 minutes to complete. Upon completion of the assessment, you can download a detailed Cost Maturity report that includes your answers to each question, how you compare to best-in-class industry competitors, and insight into how best-in-class companies achieve their high scores. Click here for a sample report.
aPriori product cost management software features design for manufacturability & cost (DFM/DTC) solutions that generate hard-dollar product cost savings for discrete manufacturing and product innovation companies. Using aPriori’s real-time product cost assessments, employees in engineering, sourcing, and manufacturing make more-informed decisions that drive costs out of products pre- and post-production. With aPriori, manufacturers launch products at cost targets, maximize savings in re-work projects, and avoid overpaying for sourced parts. To learn more about aPriori and its product cost management solutions and services, visit www.apriori.com or call 1.978.371.2006. To see an overview demonstration of aPriori, click here.
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