Look, in the shop, we all know things change fast. You're juggling quoting, materials, labor, machines – it's a lot. And at the end of the day, you need to know if you're making money. That's where knowing your production costs comes in. We’re talking about everything that goes into getting a product out the door. We call that Total Manufacturing Cost, or TMC. It's not just the price of the metal; it's every single dollar spent to turn raw stuff into something you can ship. And for you, getting a handle on your TMC, that's the key to knowing exactly what it takes, financially, to make your products. It's about seeing the real picture, so you can make smart moves and keep you thriving and hopefully growing.
Calculating TMC is not merely a financial exercise. It is a strategic tool that empowers you to navigate the complexities of the manufacturing landscape, optimize your operations, and achieve sustainable growth.
In this guidebook, you will:
â– Uncover the differences and impact of often misinterpreted TMC terms
â– Get the five steps of calculating manufacturing costs
â– Unveil the benefits of total manufacturing cost
â– See an example of putting it into action
â– Dive into the role technology plays in this process
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