Chris walked to the front of the room and asked, “Is everyone ready to talk about cost of goods sold?”
“Oh, I can’t wait,” replied Ron Corbin from sales in a sarcastic tone.
The group laughed at Ron’s sarcasm and Chris said with a smile, “Sounds boring, huh? I will try my best to make it exciting. Even though many of you are somewhat familiar with cost of goods sold, employees who develop new products are often much less familiar.
Cost of goods sold is frequently referred to as COGS and we will use the terms interchangeably. COGS is the largest cost optimization opportunity for product development teams.
Optimizing COGS is the main objective of C-O-S-T. There are other costs beyond COGS that we will discuss later, ...
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