3 Failure to Consider All Costs of the Operation
Several examples are provided that demonstrate the mistake of failure to consider all costs of an operation. A raw material may be purchased from a non-local vendor and the freight is not included in the purchase price for some reason. The raw material could be a new experimental product with a high waste factor that is not included in the purchase price. There could be unforeseen situations that occur during manufacturing or processing, which are not included in the pricing. It is for this reason I recommend that critical thinking should be employed before any process change to determine any potential problem that may occur to prevent unforeseen costs or delays to enable a solution.
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