2/15/2023 0 Comments Time study material pdf![]() To determine the accurate manufacturing time for a product, you can perform a time study. As a business owner or manufacturer, you can only do this if you know how much time the product will take to manufacture. When you have a customer who orders certain products and want those products delivered at a specific date. Since labor costs depend on time estimation, you must estimate the time as accurately as possible. Labor costs also play a significant role in pricing. This is the reason why you need to come up with a time estimation for accurate pricing. But prices that are too may result in losses. Prices that are too high can adversely your business affect as you won’t get a lot of orders. Before you can provide competitive quotations, you should make an estimation of accurate labor costs first as will impact the price of the product. In the world of commerce, customers who want to purchase a product often compare the price to similar ones that come from other manufacturers. ![]()
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