How can you reduce cost of goods in manufacturing? How do you measure cost of goods?
Increase profit margin
Company profit margin is directly related to cost of goods and the prime driver behind cost reduction initiatives.
Ensure business sustainability
Companies focussed on long term reputation and brand value need to invest in sustainability. Reducing excess costs enables such investment.
Increase customer satisfaction
Reducing costs via reduced raw material costs or improved efficiency contributes to improved customer service (faster order fulfilment, competitive pricing etc).
Manufacturers can be slow to adopt new technologies which can contribute to improved efficiencies and reduced costs. Cimlogic support clients in achieving goals in areas such as:
- Reducing the order management cycle (from order to delivery)
- On time delivery
- Improving product quality
Cimlogic’s expertise in lean manufacturing and Six Sigma enables clients to understand how to make consistent, high quality products, efficiently and economically, taking into consideration factors such as labour, inventory, and capacity.
How does Cimlogic help you to achieve this goal?
Explore more business goals:
Making the case for Machine Learning: the real business benefits across the manufacturing supply chain
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