The general rule of thumb when it comes to running a manufacturing business is to make profit. There are a few different approaches and theories when it comes to pricing up jobs. The most common approach is to use your costs and then apply a mark up in order to make money. This formula is very simple with only 2 general variables and is almost flawless once calculated properly. It all sounds so simple, but there is one common problem faced by many – how much is that job costing me to manufacture?
36 Posts By Heather Waterson
Manufacturing in today’s world is extremely fast paced and relentless. Turnaround times are forever being scrutinised as new methods of production and state of the art pieces of machinery are constantly being introduced into the market. Along with cost, the ability to track manufacturing processes in real time is at the forefront of priorities for successful manufacturers.