Congratulations — your bid won the job! You should be very proud, and maybe even a little worried. On the surface, winning any competitive bid sounds like a boost to your business. But if you’re not adequately covering job-related costs, securing that new business could become a money-losing proposition.
Unfortunately, far too many plastics manufacturing business owners and estimators operate by intuition with no real idea of the best way to account for costs. The good news is there are simple and proven methods that can help quantifiably determine profitability…
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