Formulation software gets to the bottom of costing

By Simon Pitman

- Last updated on GMT

Related tags Personal care

Formulator Software has added new functionality to its software technology that allows users to incorporate multi-vending costing functionality.

In a presentation given at the HBA expo in New York City this week, Formulator Software managing partner Jim Degroff explained how the added functionality to the company’s Lab-Book program met the current needs of individuals working in the formulation side of the personal care industry.

“This addition to the software gives the personal care industry increased flexibility, helping to plan the logistics side of their business in far greater detail,”​ Degroff told Cosmetics Design at the show.

Controlling costs at all stages

Given that the current global economic crisis has put increased pressure on every aspect of the personal care business, the function can help to plan costing in far greater detail, allowing formulators to control costs at specific points in the logistics chain.

The bottom line is that enhanced cost control can help to squeeze already razor thin margins and ultimately help companies that are feeling the pressures of costs to tread the increasingly fine line between profit and loss.

This means that users can add multiple costs per raw material, in addition to assigning these costs to vendors and entering the final freight costs on specific orders, while the costs can be entered and compared as various units of measure.

Raw material costs from different vendors

Likewise, when entering or viewing a formula, users may list the raw material costs from different vendors in an effort to make pricing comparisons simpler and more effective.

Users can also specify link to document for any vendor raw material cost, which simply appears on the computer workstation, network or internet.

The Formulator Lab-Book is available as a single user or network version and is marketed as a low cost solution for the needs of lab workers in the personal care field, as well as the food and beverage and pharmaceutical industries.

Related topics Formulation & Science

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