Items related to Target Costing and Value Engineering
Synopsis
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 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 The connection to 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 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.)
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From the Back Cover
"Definitely the book to read on target costing. Readers will learn how to combine a rigorous target costing process with desciplined value engineering to ensure aht newly launched products earn desired profits while meeting customer preferences for functionality, quality, and price. Must reading for manufacturing companies wishing to succeed in global competition."-Robert S. Kaplan, Marvin Bower Professor of Leadership Development, Harvard Business School 1
"In Target Costing and Value Engineering we finally have the much needed insight into the way in which Japanese firms manage costs, the missing piece of the puzzle on how lean enterprises compete. Using extensive research of actual lean enterprises, Cooper and Slagmulder describe the need for American businesses to integrate their total quality management, product development, manufacturing strategy, and cost management systems 9n order to compete successfully under today's intense competition. This series is a compass and roadmap for the 21st century business world."-Eileen Morrissey, Director, Advanced Cost Management, AlliedSignal Aerospace
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