Cost of Goods Sold, or COGS, is the sum of all direct costs incurred in the production of goods or services. This includes the cost of raw materials and components, direct labor and overhead costs. COGS is listed as an expense on a company’s income statement, directly after the sales revenue.
An enterprise’s gross profit is calculated by subtracting the cost of goods sold from its sales revenue. Thus, COGS is key data that helps a business monitor its performance.
GEP SMART is an AI-powered, cloud-native source-to-pay platform for direct and indirect procurement. GEP SMART offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities.
GEP NEXXE is a uniﬁed and comprehensive supply chain platform that provides end-to-end planning, visibility, execution and collaboration capabilities for today’s complex, global supply chains. Built on a foundation of data, artiﬁcial intelligence and cognitive technologies, GEP NEXXE helps enterprises digitally transform their supply chains and turn them into a competitive advantage.