Redefining the Production Industry

So you may not be thinking about the financial aspect, of the cost of production, when looking to buy a product. However knowing what something costs can be extremely beneficial in seeing if you are getting a good deal. I have recreated the seemingly difficult to understand process of what truly goes into the finance of the production world.

I personally partook in their current certificate program under the partnership between Teen Vogue and Parsons New School of Design. In the module, Thinking like a Designer, we created an accessory based off of images we captured. In mine I had a lot of Gold with few color embellishments. I used this inspiration to create a necklace. I created the design to be asymmetrical to give it a fun theme. In addition to the project our task was to find the production cost. The chart on the left is the initial process and cost used to create the necklace. However if one buys the necessary materials at a lower price or in bulk with a more efficient time the graph on the right would show the more economical data. To categorize and simplify the data I color coded the individual categories, of materials, cost, profit, Retail value, and possible markdowns. While the information leaves out the specific details of shipping costs, storage values, and changing prices; it gives an idea of how much can go into an accessory, and will help redefine the production Industry on your terms

#Necklace #cost #production #Industry #Finance