Target Costing and Value Engineering

Target Costing and Value Engineering

Author: Robin Cooper

Publisher: Routledge

Published: 2017-10-19

Total Pages: 353

ISBN-13: 1351411764

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What would happen if everyone in your company followed a disciplined approach to cost reduction? Go ahead -- imagine it. What would it look like? How can it be done? The answer -- smart cost management. Effective cost management must start at the design stage. As much as 90-95% of a product's costs are added in the design process. That is why effective cost management programs focus on design and manufacturing. The primary cost management method to control cost during design is a combination of target costing and value engineering. Target Costing Objectives: Identify the cost at which your product must be manufactured at if it is to earn its profit margin at its expected target selling price. Break the target cost down to its component level and have your suppliers find ways to deliver the components they sell you at the set target prices while still making adequate returns. Value Engineering: The connection to function: An organized effort and team based approach to analyze the functions of goods and services that the design stage, and find ways to achieve those functions in a manner that allows the firm to meet its target costs. The result: Added value for your company (development costs on-line with added value for your company; development costs on-line with selling prices) and added value for your customer (higher quality products that meet, possibly even exceed, customer expectations.)


Book Synopsis Target Costing and Value Engineering by : Robin Cooper

Download or read book Target Costing and Value Engineering written by Robin Cooper and published by Routledge. This book was released on 2017-10-19 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: What would happen if everyone in your company followed a disciplined approach to cost reduction? Go ahead -- imagine it. What would it look like? How can it be done? The answer -- smart cost management. Effective cost management must start at the design stage. As much as 90-95% of a product's costs are added in the design process. That is why effective cost management programs focus on design and manufacturing. The primary cost management method to control cost during design is a combination of target costing and value engineering. Target Costing Objectives: Identify the cost at which your product must be manufactured at if it is to earn its profit margin at its expected target selling price. Break the target cost down to its component level and have your suppliers find ways to deliver the components they sell you at the set target prices while still making adequate returns. Value Engineering: The connection to function: An organized effort and team based approach to analyze the functions of goods and services that the design stage, and find ways to achieve those functions in a manner that allows the firm to meet its target costs. The result: Added value for your company (development costs on-line with added value for your company; development costs on-line with selling prices) and added value for your customer (higher quality products that meet, possibly even exceed, customer expectations.)

Target Cost Management

Target Cost Management

Author: Jim Rains

Publisher: CRC Press

Published: 2010-08-12

Total Pages: 229

ISBN-13: 1439835616

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With a proven track record for helping companies achieve critical cost reductions without sacrificing customer satisfaction, target costing provides managers and executives with the tools to survive and prosper in today’s increasingly competitive market—without raising prices on customers. Target Cost Management: The Ladder to Global Survival and Success details the preliminary steps required for a company to institutionalize target costing and the two necessary ingredients of target costing—proper organizational structure and cost tables. It describes and illustrates the interrelationships of the major techniques, tools, and methodologies needed to achieve the ultimate success. Jim Rains shares powerful insights harvested during his two decades of studying and benchmarking target costing for leading Japanese corporations including Toyota, Nissan, and Canon. Supplying the understanding and the tools to achieve critical cost reductions while maintaining and even improving customer satisfaction, this book explains the steps needed to reap the rewards of constant, consistent, acceptable, and predictable levels of profitability.


Book Synopsis Target Cost Management by : Jim Rains

Download or read book Target Cost Management written by Jim Rains and published by CRC Press. This book was released on 2010-08-12 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: With a proven track record for helping companies achieve critical cost reductions without sacrificing customer satisfaction, target costing provides managers and executives with the tools to survive and prosper in today’s increasingly competitive market—without raising prices on customers. Target Cost Management: The Ladder to Global Survival and Success details the preliminary steps required for a company to institutionalize target costing and the two necessary ingredients of target costing—proper organizational structure and cost tables. It describes and illustrates the interrelationships of the major techniques, tools, and methodologies needed to achieve the ultimate success. Jim Rains shares powerful insights harvested during his two decades of studying and benchmarking target costing for leading Japanese corporations including Toyota, Nissan, and Canon. Supplying the understanding and the tools to achieve critical cost reductions while maintaining and even improving customer satisfaction, this book explains the steps needed to reap the rewards of constant, consistent, acceptable, and predictable levels of profitability.

Target Costing and Value Engineering

Target Costing and Value Engineering

Author: Robin Cooper

Publisher: Routledge

Published: 2017-10-19

Total Pages: 359

ISBN-13: 1351411772

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What would happen if everyone in your company followed a disciplined approach to cost reduction? Go ahead -- imagine it. What would it look like? How can it be done? The answer -- smart cost management. Effective cost management must start at the design stage. As much as 90-95% of a product's costs are added in the design process. That is why effective cost management programs focus on design and manufacturing. The primary cost management method to control cost during design is a combination of target costing and value engineering. Target Costing Objectives: Identify the cost at which your product must be manufactured at if it is to earn its profit margin at its expected target selling price. Break the target cost down to its component level and have your suppliers find ways to deliver the components they sell you at the set target prices while still making adequate returns. Value Engineering: The connection to function: An organized effort and team based approach to analyze the functions of goods and services that the design stage, and find ways to achieve those functions in a manner that allows the firm to meet its target costs. The result: Added value for your company (development costs on-line with added value for your company; development costs on-line with selling prices) and added value for your customer (higher quality products that meet, possibly even exceed, customer expectations.)


Book Synopsis Target Costing and Value Engineering by : Robin Cooper

Download or read book Target Costing and Value Engineering written by Robin Cooper and published by Routledge. This book was released on 2017-10-19 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: What would happen if everyone in your company followed a disciplined approach to cost reduction? Go ahead -- imagine it. What would it look like? How can it be done? The answer -- smart cost management. Effective cost management must start at the design stage. As much as 90-95% of a product's costs are added in the design process. That is why effective cost management programs focus on design and manufacturing. The primary cost management method to control cost during design is a combination of target costing and value engineering. Target Costing Objectives: Identify the cost at which your product must be manufactured at if it is to earn its profit margin at its expected target selling price. Break the target cost down to its component level and have your suppliers find ways to deliver the components they sell you at the set target prices while still making adequate returns. Value Engineering: The connection to function: An organized effort and team based approach to analyze the functions of goods and services that the design stage, and find ways to achieve those functions in a manner that allows the firm to meet its target costs. The result: Added value for your company (development costs on-line with added value for your company; development costs on-line with selling prices) and added value for your customer (higher quality products that meet, possibly even exceed, customer expectations.)

Target Costing

Target Costing

Author: Shahid L. Ansari

Publisher: Mountain Valley Pub Llc

Published: 2009-06-01

Total Pages: 264

ISBN-13: 9781934940693

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"Target Costing is an essential tool for companies striving to achieve and maintain a position of true cost competitiveness."--Back cover.


Book Synopsis Target Costing by : Shahid L. Ansari

Download or read book Target Costing written by Shahid L. Ansari and published by Mountain Valley Pub Llc. This book was released on 2009-06-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Target Costing is an essential tool for companies striving to achieve and maintain a position of true cost competitiveness."--Back cover.

Value Engineering

Value Engineering

Author: Richard Park

Publisher: Routledge

Published: 2017-11-01

Total Pages: 313

ISBN-13: 135140573X

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After more than 50 years as a manager and VE pioneer, Richard J. Park presents Value Engineering: A Plan for Invention. Park demonstrates how to adopt VE as a thinking process that can enable you to increase your problem solving skills, cultivate innovation, reduce costs, improve productivity, and more. Features


Book Synopsis Value Engineering by : Richard Park

Download or read book Value Engineering written by Richard Park and published by Routledge. This book was released on 2017-11-01 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: After more than 50 years as a manager and VE pioneer, Richard J. Park presents Value Engineering: A Plan for Invention. Park demonstrates how to adopt VE as a thinking process that can enable you to increase your problem solving skills, cultivate innovation, reduce costs, improve productivity, and more. Features

Principles and Applications of Value Engineering

Principles and Applications of Value Engineering

Author: United States. Army. Management Engineering Training Activity

Publisher:

Published: 1983

Total Pages: 334

ISBN-13:

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Book Synopsis Principles and Applications of Value Engineering by : United States. Army. Management Engineering Training Activity

Download or read book Principles and Applications of Value Engineering written by United States. Army. Management Engineering Training Activity and published by . This book was released on 1983 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Encyclopedia of Production and Manufacturing Management

Encyclopedia of Production and Manufacturing Management

Author: Paul M. Swamidass

Publisher: Springer Science & Business Media

Published: 2000-06-30

Total Pages: 833

ISBN-13: 0792386302

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Production and manufacturing management since the 1980s has absorbed in rapid succession several new production management concepts: manufacturing strategy, focused factory, just-in-time manufacturing, concurrent engineering, total quality management, supply chain management, flexible manufacturing systems, lean production, mass customization, and more. With the increasing globalization of manufacturing, the field will continue to expand. This encyclopedia's audience includes anyone concerned with manufacturing techniques, methods, and manufacturing decisions.


Book Synopsis Encyclopedia of Production and Manufacturing Management by : Paul M. Swamidass

Download or read book Encyclopedia of Production and Manufacturing Management written by Paul M. Swamidass and published by Springer Science & Business Media. This book was released on 2000-06-30 with total page 833 pages. Available in PDF, EPUB and Kindle. Book excerpt: Production and manufacturing management since the 1980s has absorbed in rapid succession several new production management concepts: manufacturing strategy, focused factory, just-in-time manufacturing, concurrent engineering, total quality management, supply chain management, flexible manufacturing systems, lean production, mass customization, and more. With the increasing globalization of manufacturing, the field will continue to expand. This encyclopedia's audience includes anyone concerned with manufacturing techniques, methods, and manufacturing decisions.

Supply Chain Development for the Lean Enterprise

Supply Chain Development for the Lean Enterprise

Author: Robin Cooper

Publisher: Routledge

Published: 2017-12-06

Total Pages: 496

ISBN-13: 1351412728

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Four questions determine whether a company is using interorganizational cost management. Does your firm set specific cost-reduction objectives for its suppliers? Does your firm help its customers and/or suppliers find ways to achieve their cost-education objectives? Does your firm take into account the profitability of its suppliers when negotiating component pricing with them? Is your firm continuously making its buyer-supplier interfaces more efficient? If the answer to any of these questions is ""no"", your firm risks introducing products that cost too much or are not competitive. The full potential of the supply network can be realized only when the entire supply chain adopts interorganizational cost management practices. Competitive pressure has led many firms to try to increase the efficiency of supplier firms through interorganizational cost management systems, a structured approach to coordinating the activities of firms in a supplier network to reduce the total costs in the network. It is particularly important to lean enterprises for two reasons: Lean enterprises typically outsource more of the added value of their products than their mass producer counterparts. Lean enterprises usually compete more aggressively and must manage costs more effectively. Interorganizational cost management can reduce costs in three ways: through product design, through product manufacture and through cooperative approaches between buyers and suppliers to build smoother interfaces. However, more than just cost management must cross interorganizational boundaries. Suppliers are also a major source of innovation for lean enterprises. Successful supplier networks encourage every firm in the network to innovate and compete more aggressively. Read this book to learn to manage the supply chain to forge competitive advantage while reducing costs.


Book Synopsis Supply Chain Development for the Lean Enterprise by : Robin Cooper

Download or read book Supply Chain Development for the Lean Enterprise written by Robin Cooper and published by Routledge. This book was released on 2017-12-06 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Four questions determine whether a company is using interorganizational cost management. Does your firm set specific cost-reduction objectives for its suppliers? Does your firm help its customers and/or suppliers find ways to achieve their cost-education objectives? Does your firm take into account the profitability of its suppliers when negotiating component pricing with them? Is your firm continuously making its buyer-supplier interfaces more efficient? If the answer to any of these questions is ""no"", your firm risks introducing products that cost too much or are not competitive. The full potential of the supply network can be realized only when the entire supply chain adopts interorganizational cost management practices. Competitive pressure has led many firms to try to increase the efficiency of supplier firms through interorganizational cost management systems, a structured approach to coordinating the activities of firms in a supplier network to reduce the total costs in the network. It is particularly important to lean enterprises for two reasons: Lean enterprises typically outsource more of the added value of their products than their mass producer counterparts. Lean enterprises usually compete more aggressively and must manage costs more effectively. Interorganizational cost management can reduce costs in three ways: through product design, through product manufacture and through cooperative approaches between buyers and suppliers to build smoother interfaces. However, more than just cost management must cross interorganizational boundaries. Suppliers are also a major source of innovation for lean enterprises. Successful supplier networks encourage every firm in the network to innovate and compete more aggressively. Read this book to learn to manage the supply chain to forge competitive advantage while reducing costs.

Cost Engineering

Cost Engineering

Author: Chris Domanski

Publisher: CRC Press

Published: 2020-04-28

Total Pages: 123

ISBN-13: 1000047830

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In today’s hyper-competitive, global marketplace, a manufacturing company needs a competitive edge if it is to survive and grow. That edge could be anything from superior manufacturing technology to innovative product design; from patent protection to solid, well-established customer relationships. One competitive edge available to all manufacturers, but realized by only a few, is the ability to accurately measure, control, and optimize costs throughout a product’s entire life cycle. The lack of a methodology to engineer cost optimization into every product makes attaining and maintaining profitability all that the more difficult. Cost Engineering provides a means for a manufacturer to achieve and sustain profitability by designing and manufacturing products to specific cost requirements. It incorporates a variety of proven methodologies including cost estimating, cost control, and cost optimization. Features:  Describes the components and organization of an effective cost optimization process  Provides detailed explanations of cost estimating techniques for many of the most common manufacturing processes  Explains the selection and use of appropriate cost allocation methods  Presents the fundamentals of cost-based negotiation  Includes both proper and improper executions of cost engineering principles The details presented in this book are important to design engineers, manufacturing engineers, buyers, accountants, cost estimators, cost optimization specialists, and their managers and provides CEOs, COOs, general managers, product line managers, and plant managers with guidance on improving and sustaining profitability. .


Book Synopsis Cost Engineering by : Chris Domanski

Download or read book Cost Engineering written by Chris Domanski and published by CRC Press. This book was released on 2020-04-28 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today’s hyper-competitive, global marketplace, a manufacturing company needs a competitive edge if it is to survive and grow. That edge could be anything from superior manufacturing technology to innovative product design; from patent protection to solid, well-established customer relationships. One competitive edge available to all manufacturers, but realized by only a few, is the ability to accurately measure, control, and optimize costs throughout a product’s entire life cycle. The lack of a methodology to engineer cost optimization into every product makes attaining and maintaining profitability all that the more difficult. Cost Engineering provides a means for a manufacturer to achieve and sustain profitability by designing and manufacturing products to specific cost requirements. It incorporates a variety of proven methodologies including cost estimating, cost control, and cost optimization. Features:  Describes the components and organization of an effective cost optimization process  Provides detailed explanations of cost estimating techniques for many of the most common manufacturing processes  Explains the selection and use of appropriate cost allocation methods  Presents the fundamentals of cost-based negotiation  Includes both proper and improper executions of cost engineering principles The details presented in this book are important to design engineers, manufacturing engineers, buyers, accountants, cost estimators, cost optimization specialists, and their managers and provides CEOs, COOs, general managers, product line managers, and plant managers with guidance on improving and sustaining profitability. .

Cost Half

Cost Half

Author: Toshio Suzue

Publisher: CRC Press

Published: 2002-07-10

Total Pages: 176

ISBN-13: 9781563272493

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Maximize Your Profits with Innovative Cost Reduction Techniques! The Cost Half approach does not rely on gradual improvement activities. Rather, it is a radical, "greedy" approach that focuses on developing three interrelated strengths to ensure stable business results. That is, Cost Half puts you on the road to increasing market development strength, improving competitive quality, and maintaining competitive cost. The techniques in Cost Half: The Method for Radical Cost Reduction are designed to help meet target costs and create a sustainable cost management system for strong business capability. Highlights Include: Identification of the telltale signs of a company in need of a Cost Half program Practical techniques for changing cost-generating sources and locations Step by step guide for the implementation of Cost Half in your company Cost Half benchmarking activities A case study demonstrating a successful Cost Half project


Book Synopsis Cost Half by : Toshio Suzue

Download or read book Cost Half written by Toshio Suzue and published by CRC Press. This book was released on 2002-07-10 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maximize Your Profits with Innovative Cost Reduction Techniques! The Cost Half approach does not rely on gradual improvement activities. Rather, it is a radical, "greedy" approach that focuses on developing three interrelated strengths to ensure stable business results. That is, Cost Half puts you on the road to increasing market development strength, improving competitive quality, and maintaining competitive cost. The techniques in Cost Half: The Method for Radical Cost Reduction are designed to help meet target costs and create a sustainable cost management system for strong business capability. Highlights Include: Identification of the telltale signs of a company in need of a Cost Half program Practical techniques for changing cost-generating sources and locations Step by step guide for the implementation of Cost Half in your company Cost Half benchmarking activities A case study demonstrating a successful Cost Half project