Every cost and expense have to be monitored closely to prevent unnecessary wastage of finite resources and ensure the profitability of the business.īy definition, costing is the process of assigning value to all resources used in the production of goods and services, including materials, labor and other costs associated with production.
It allows the company to understand how much it spends on various factors and how they affect its profitability in the long run.
This is why garment costing is often considered to be one of the most complex operations in a fashion business.Īs you might know, the basic principles of costing are an essential part of any business, and especially that of a fashion company. When it comes to the fashion industry, there are so many moving parts and pieces that go into making just one piece of garment.
