Smithers Rapra, a leading tester of rubber, plastics and composites, has launched the Testing Cost Comparison Calculator, a digital tool designed to compare the cost of testing internally to the cost of contracting testing to an independent, third party laboratory.
For many manufacturers, delays in product testing can disrupt the launch schedule of a new product and affect the company’s bottom line. Testing schedules fill up, and protocols can be long and cumbersome. External testing labs can serve as a key resource for companies that struggle with the bottleneck of internal testing It can get a product to market faster, and help a company go from red to green in a matter of weeks, not months.
The Smithers Rapra Testing Cost Calculator provides users the ability to assess the financial impact of outsourced testing by calculating the projected incremental revenues of a new product, and factoring in the number of months delayed by backlogs in the internal lab. The calculator provides a visual representation of potential lost revenue, which can be used for internal projections to validate the use of external testing resources.
The Testing Cost Comparison Calculator is available for free download and use.
