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Product cost management (PCM) and design-to-value (DtV) are two areas in companies capable of delivering the greatest of impact, but are sadly prone to the biggest blunders by leadership.
Companies always have processes, whether those processes are formalized or not. One of the most important processes is how companies develop and deliver products or service that both fulfill consumer expectations efficiently and align with the overall business strategy.
I had spent almost a decade as the Founder, CEO, and then Chief Product Officer of aPriori. I was always trying to help people improve product profit, by providing the world’s first and still most cutting-edge 3D CAD-to-cost software and Product Cost Management solution to purchasing and product development.
I truly believe that manufacturing is the key to sustaining the economic strength of a nation, along with mining and agriculture. My work involves areas such as products and manufacturing.
From Chicago, IL, Hiller Associates’ Managing Partner; Eric Hiller shares his experience as a consultant and corporate executive. He specializes in operational and process improvements, while also gives insight to software and hardware product management.
Product cost management tool overview: Galorath’s SEER suite of costing solutions (Part 2) — Use cases, implementation, ROI and summary analysis
Hello there, spend analytics / Product Cost Management crowd. Welcome to Part 2 of this Spend Matters PRO series on Galorath’s SEER suite of software tools for product cost modeling.
Product cost management tool overview: Galorath’s SEER suite of costing solutions (Part 1) — Solution overview
Over the last few weeks, I have spoken with some of the senior executive team at Galorath Inc., a firm that has been on the forefront of knowledge-based project and product cost estimation for over 40 years.
We have all been in a meeting where miscommunication happens. One of the biggest challenges when dealing with analytics in business is that the more powerful the analytics, the harder it is to explain to other people not involved directly in the analyzing.
aPriori: Product Cost Management tool spotlight (Part 2) — Use Cases, Depth of Solution, ROI, Summary Analysis
Part 2 of this Spend Matters PRO series will look at an array of use cases for aPriori’s capabilities in product cost management. It also will include profiles of who should use the solution, the depth and breadth of the solution, how quickly aPriori can return value, and a summary analysis.
It feels like a long time since then in so many ways because of the coronavirus pandemic, but we are moving forward with our series. What’s the Price was on one end of the spectrum as a top-down, index-based costing tool focused on the “everyman” buyer’s needs.
Coronavirus has changed a lot of things in America—especially in urban areas, where there are heightened precautions. It is even more chaotic when you have your first newborn baby, like my wife and me.
The evolution of product cost management tools and the state of the art (Part 2): The 2nd revolution
Our first article in this series looked at product cost management software and how it fits in with the world of procurement software in the earlier years of development.
A lot has happened in the world of procurement software in the last 20 years. Purchasing has added a lot of new tools to what was mostly a relationship-focused discipline.
Total cost of ownership (TCO) was popularized by Gartner in the 1980s. The basic idea is that the value derived from a product involves more resources than what you pay the supplier. Take the modern-day smartphone.
The church reformer Martin Luther was known for asking a signature question in his catechism: “Was ist das?” In German, literally, “What is that?” but rendered for our English-speaking ears, we would translate it as “What does this mean?”
Now that we've examined what a product or service should cost, why the quoted price is often so much higher, and how to start closing the gap, we can turn to the final question: how to keep chipping away at cost and turn initial success into long-term value.
Hiller Associates recently was the keynote speaker at aPriori’s first customer conference. It was a great opportunity to both teach and learn from experts that came from a wide range of industries and geographies.