Mike Franz, CEO of ManufacturingPower recently shared how automation drives COGS reduction for small and mid-sized manufacturers in Robotics & Automation News.
According to Franz, “Automated access to summary cost and margin information for each SKU delivers light SaaS “MRO/tail-spend” price transparency, returning a minimum 11-14% COGS (cost of goods sold) reduction to the bottom line.”
Automating product costing is central to the critical decisions made daily by small and mid-sized manufacturers. Decisions about the products manufactured, the prices charged, and the tactics implemented to improve the processes, make or break the company’s profitability.
Only with a cloud-based application designed to quickly calculate, analyze, share, and maintain detailed, accurate, and actionable product costs, can spreadsheets be eliminated as the methodology for price comparisons. Only when manufacturers stop basing critical business decisions on inadequate spreadsheets can the purchasing department succeed.
Robotics and Automation News covers the robotics and automation industries around the world.
ManufacturingPower is a cloud-based market intelligence solution designed to help small to mid-sized manufacturers streamline purchasing operations. This technology allows customers to achieve real-time visibility into industrial supply spend, better collaborate with suppliers, mitigate risk, and realize significant cost savings with the use of market transparency data. ManufacturingPower is a new-to-market SaaS technology with tools to simplify the industrial supply challenges facing all manufacturers.
Through cloud database management and unique algorithms, big data allows easy access to business intelligence. Until 2020, supply chain technology was far too expensive for the smaller manufacturer. ManufacturingPower offers a low-cost ($5000 annually) solution which provides even the smallest manufacturer the ability to compare competitive pricing driving immediate savings and equally rapid ROI (return-on-investment). ManufacturingPower demonstrates that knowledge is power and transparent market intelligence data to become leaner and far more efficient.
Company Name: ManufacturingPower
Contact Person: Mike Franz, Founder & CEO
Email: Send Email
Address:101 5th St. E. Ste. 150 Box 3872
City: St. Paul
Country: United States