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Introduction Gardner, (1954) and Huntzinger, (2007) define Purchase price variance (PPV) as a metric used to measure the effectiveness of cost-saving efforts by calculating the difference between the planned cost (standard pricing) allocated for purchasing activities and the actual cost incurred.
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When a business, or other organization, purchases equipment, parts, or remanufactured equipment it is an investment. These tools have quickly become mainstays for the remote workforce, and are rapidly evolving to support supply chain management functions. Increased velocity. Increased service market share.
As an example, Chemical Manufacturing (NAICS 325) encompasses a variety of chemical manufacturing codes including petrochemicals (3251), but none for biobased chemicals. Manufacturers go through a certification process that has been developed in a partnership with ASTM International to ensure quality control and consistent results.
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