The problem with understanding product cost is that we often fail to know why cost knowledge is so important.  Sure, everyone knows that it’s important to know your costs for product margin purposes.  Likewise, everyone understands that it is a good thing to know your cash and fully burdened costs before setting your sales price.  But what about knowing your costs as a means to motivate everyone to self-identify, self-prioritize and self-eliminate waste throughout the organization?

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