Manufacturing
The manufacturing and supply chain of your product can make or break its success. Balancing the cost, quality, and delivery to meet the needs of the market while achieving the appropriate margin is the goal. The goal of the product manager is to understand the market needs and communicate with the supply chain team on whether these needs are being met.
Knowing the vendors and production team allows the product manager to understand the costs and quality that are put into the product. When it comes time to optimize costs or innovate, having a relationship with these teams enables gaining their feedback and a quick transition.
Detailed break down how each component or process affects the final cost will enable the product manager to understand strategies for increasing cost optimization. Directing the engineering team to explore ways to reduce the costliest items is an easy way to gain cost efficiencies.