Free Guide Aids Estimating and Cost Calculation for Manufacturers

PSL has a wealth of experience in real-cost calculations and its DataTrack software is used extensively throughout the manufacturing sector to aid organisations with production control, providing the tools and information needed without the complexity or implementation costs of MRP and ERP software installations. The calculation of costs relating to manpower, machine utilisation, administration, factory overheads and materials is at the very heart of DataTrack.

A recent exercise by PSL involved the benchmarking of costs for a group of manufacturers after undertaking research on their behalf. The research had found that the subcontractors knew little about their fixed and variable costs and were therefore unable to make informed decisions on estimating. Managing director of PSL, Jim Kelly, comments, “With competition in the industry so intense, the need for this knowledge, in order to quote accurately and maintain margins, is vital.”