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Introducing our Costings Feature

3 min read

Header Image Source: SupplyCompass

by SupplyCompass in Platform

Costings are an essential part of product development. Brands traditionally go through multiple rounds of costings with their manufacturers to meet their margins and budget while designers need to understand various options within which to design to meet the target prices.

Currently, cost negotiations can last weeks as brands can go through several rounds of sampling. In addition, these costs sit on various emails and Excel documents and are not easily accessible by other team members.

We’ve launched a new way of keeping up with costings allowing you to cut through the endless rounds of costing and negotiations with a simple, easy-to-use dashboard. Through the SupplyCompass platform, merchandisers can set their target price and designers/production team can receive costs based on different variations—screen print vs digital print, for example—and quantity options. The platform also allows brands to request costs from multiple manufacturers, compare and accept cost prices and request recosts. This saves time in sampling, ensures the brand meets its target prices and gives full visibility to the team.

Set target prices, compare costs, quantities and variations, request costs and recosts from multiple manufacturers, and accept prices with a single click of a button.

Our Features

Easily create RFQs to help you meet your target prices

This feature allows you to create RFQs in minutes – yes that means no more Excel! The feature pulls through all relevant information from your tech pack, removing the need for repetitive and time-consuming data entry; plus all your team can see costs easily too. You can add multiple cost and quantity options across styles and style variations, and choose whether you show your target price to your manufacturer.

Add target prices, cost and quantity options

Request and compare costs from multiple multiple manufacturers

Either work with SupplyCompass managed supply chains or invite and onboard your existing manufacturers to input costs too. You can send out your RFQ to multiple manufacturers and easily compare costs and suitability all in one place. Click on each ‘Manufacturer’ tab to switch between costs and view their profile on hover.

View your manufacturer profile on hover

Track all communication around costs

Communication over costs across your team and between you and your manufacturers can get confusing and complicated. With our feature, you can easily share with both your team and manufacturers who can add comments at an individual cost level. All comments are tracked, linked to each user and timestamped.

Click on the comment icon to view and add comments

Keep a digital record of what’s been approved

It can be hard to keep track of what’s been approved across all styles, orders with multiple manufacturers. That’s why we’ve built our recost and accept cost feature. If you ask for recostings, your manufacturer will be alerted on their platform, where they can directly input revised costs. Once you’re happy, simply click to accept the cost. We understand that you may make changes to your product throughout sampling; that’s why our feature allows you to recost up until you raise your Purchase Order.

Recost and accept cost feature

The SupplyCompass Dashboard

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SupplyCompass is a product development and production management platform that enables fashion brands and manufacturers to produce better, together. The platform enables brands to manage the entire product development, sourcing and production process from design right through to delivery, all in one place.

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