Manufacturing organizations typically use traditional costing as a method of determining what it costs to make products. It combines an actual cost with a factor to calculate how to allocate indirect ...

Target costing and cost-plus pricing are two different things. In product development, target costing is a management technique used to determine the cost of manufacturing a product, while cost-plus ...

Plastics processors are fortunate to have several options for managing and calculating costs. In part one of this series, we discussed the benefits of a production profit contribution model. This ...

The supply chain disruptions that characterize the COVID-19 pandemic can wreak havoc with profitability. As sources of supply constantly shift, it’s difficult for the product engineers, cost ...

Up to 80% of the cost of a new part is locked in during the early design phases where material and manufacturing processes are defined. In the past engineers relied on historical factors to cost-out ...