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Product Cost Management for Consumer Products & Retail

Product Cost Management for Consumer Products & Retail

Achieving target costs, best-cost-based purchase prices and profitable sales prices is important in every industry. When the targets are consumers, the ability to identify the exact price of a product early in the development process can make the difference between success and failure.

Our solution offers an integrated product cost management approach that combines the power of the world’s leading global PLM platform with sophisticated product cost management tools all in one system, allowing consumer goods companies to optimize product costs to maximize margins, profits and return on investment (ROI).

Achieving target costs, best-cost-based purchase prices and profitable sales prices is important in every industry. When the targets are consumers, the ability to identify the exact price of a product early in the development process can make the difference between success and failure.

Our solution offers an integrated product cost management approach that combines the power of the world’s leading global PLM platform with sophisticated product cost management tools all in one system, allowing consumer goods companies to optimize product costs to maximize margins, profits and return on investment (ROI).

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Today’s customers want to buy products that match their interest in a healthy lifestyle as well as ones that are locally produced. They also want to be informed about the ecological impacts of production. This behavior, fueled by the influence of social media, is forcing companies to diversify their brands significantly. Well-established product lines must undergo changes to be better positioned, and new product lines need to be launched. Competitive smaller companies are invite further risk as they develop the ability to react to market changes faster. In the end, it becomes extremely important to control all relevant aspects of product composition, not only to meet regulations, but also to be able to follow market trends.

The most important factor is the ability to fully control product costs, not only for a single product or product line. Product cost control must be applied across the complete portfolio in a consistent and controlled fashion using a dedicated solution. To enable stakeholders to make the correct selections for materials to be sourced, information must be provided qualifying costs for all individual components. This will establish a level of financial insight that will meet the demands of handling a diversifying portfolio.