2020 Manufacturing Industry Trends: Identifying Your Most Profitable Products

Published September 14 2020 by Dominic Telaro

Are you aware of which products are most profitable to your company? A question like this should be answered with a resounding yes when it comes to knowing which products in your manufacturing organization are the most profitable. In order to be successful, you have to know the answer to this question and for some it may be more difficult to answer than others.

Q. Are you aware of which products are most profitable to your company?


2020 Manufacturing Industry Trends_ Identifying Your Most Profitable Products

This survey report showcased that 91% of manufactures reported an understanding of which products are most profitable in their company. Statistics like this show how deeply important it is to truly understand the data in your business and what’s helping you maintain success.

Understanding your most profitable products is paramount to success in today’s globally interconnected economy. It’s what helps manufacturers determine which products to expand and shrink.

According to Accenture, adopting a product profitability analysis metric makes the best use of data by:

  • Showing the resources required in the value chain
  • Demonstrating the functional impact per cost center and staff, including the effect on any outsourced step in the value chain
  • Painting the impact of changes in input costs, product specification, resource levels, and productivity

Download the full report here to get instant access to full survey report and analysis: 2020 Manufacturing Industry Trends: Survey Result and Analysis.

2020 Manufacturing Industry Trends Survey Results & Analysis

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