Having a Pricing Problem?

An article on the Chron states, “the best way to increase your profit margin in manufacturing is usually to lower the product's manufacturing costs rather than increasing the price of the product.” However, how do you achieve a lower manufacturing price without jeopardizing quality? Anyone who has purchased products from a factory knows the phrase “increase your order volume, and you will receive a discounted price.” However, ask yourself, how will this help the client? What is the client to do? Increasing inventory, only ties up cash flow, so they can’t invest into marketing and build the proper sales channels. No, that’s a lose-lose for everyone. An alternative is to work with a contract m

Product Prototypes: What Stage Are You In?

Originally Published on Prototypes play a pivotal role in the development process and are used to establish feedback loops that allow your product idea to evolve. During the development process, a number of prototypes will be necessary to verify your product design functions and appears as it is intended. As a rule of thumb, each development step is followed by a prototype. The purpose of prototypes is to verify your product works as intended. If the prototype fails, then the product will not work as it should and redesign is needed. However, if the prototypes work, then you can proceed with the design or manufacturing stages and start to market your product with the prototype.

What a Bill of Materials Is and Why You Need One

Special thanks to for posting this article first. Regardless of what you are selling, when it comes time to make your product, there is one thing all manufacturers will ask you for: a bill of materials, or BOM. It doesn't matter if you are just starting out and searching for someone to manufacture your product, trying to shave off some of your cost of goods sold (COGS), looking for a more efficient means to manufacture your product, or just asking a factory for a quotation – all manufacturers will ask you to provide a BOM. What is a BOM, and why is it so important? A BOM is a fact of life in the manufacturing world and plays a critical role in the development of any product. Sim


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