Today’s businesses operate in an increasingly complex environment. And it is becoming more and more difficult to understand supplier cost structures and identify optimization potential. However, this is precisely where product and/or production costs can be reduced significantly. This is because the purchasing and cost engineering departments play an important role in effective design due to the increased number of purchased components in product manufacturing.
Insight into supplier cost structures is thus indispensable to consistently achieve the best price for purchased parts or components. In the best-case scenario, this is made possible by a coherent price analysis of purchased parts because it quickly, transparently and coherently explains the prices of individual components and enables users to compare them with the predefined target costs.
Should Costing is used as an important component of the Enterprise Product Costing approach in order to increase the value-added portion of purchasing or cost engineering.
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