In recent years, the difficulties faced in the field of product creation have evolved significantly. The market and client side needs are becoming more complicated while lifecycles are getting shorter in many industrial sectors. To adapt to varying client needs in international marketplaces, product portfolios are likewise becoming more diverse. To guarantee compliance with regulations, a number of company-wide standards must be completed. Due to limited information and unstable cost components, it is challenging to estimate the cost of a new product in its early stages.
If the calculating process is serial and uses a variety of interfaces, and if multiple worldwide subsidiaries may be involved in the process, then obvious flaws are observable inside the process. Even at the early phases of growth, many businesses continue to use standalone databases and spreadsheets for profitability calculations. This highlights the danger of basing business choices on faulty data.
