Five key measures of success for a product cost optimization initiative [Infographic]

Pratistha Suhasini December 8, 2016

Asset 11.pngIn a comprehensive survey conducted with CXOs, executive engineering and manufacturing leaders, Barry-Wehmiller International (B-WI) found that two thirds (65%) of these executives list product cost optimization (PCO) as fundamental to company profitability. In order to realize the maximum potential of the approach, it is important that the ROI can be measured and evaluated.

In our previous blog about the importance of metrics in product cost optimization for manufacturers, we discussed how a metrics-driven approach for the optimzation strategy can improve measurement and provide more credible insights on a company's Return on Investment (ROI).

Based on the same topic, below is an infographic that shows various metrics that you could track for such a strategy.
5 Key measures of success for your product cost optimization initiative.png

 

Hope you enjoyed reading this infographic. Insights from analyzing the above metrics is crucial for justifying the investment efforts for the cost optimization strategy. Here is another must read guide that throws light on these metrics in detail, how you can measure these to justify the product cost optimization approach and solutions that can help you in excelling at these metrics. Click on the image below to get the guide.

Also, in the guide, get a ready to print chart and you have a PCO metrics cheatsheet at your finger tips.

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Topics Product Cost Optimization Product Development Solutions