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The Target Costing Approach
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Book Synopsis The Target Costing Approach by : Hendrik Vedder
Download or read book The Target Costing Approach written by Hendrik Vedder and published by GRIN Verlag. This book was released on 2008-12 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2007 in the subject Business economics - Controlling, grade: 1,3, European Business School - International University Schlo Reichartshausen Oestrich-Winkel, course: Vertiefung Controlling, 8 entries in the bibliography, language: English, abstract: Contemporary times are characterized by quick, dynamic, and continuing changes in the economy. Therefore, companies have to adapt flexibly and innovatively to these changes in order to stay competitive and cope with the increasing pressure of competition. In particular, Asian and East-European competitors gain market share by offering products of better quality than in earlier times and for lower costs. Under these conditions, costs represent a fundamental factor for the success of western companies. Accordingly, management and employees have to fully exploit the potential that cost management and reduction measures offer. However, costs are not the only buying decision criterion. Customers expect products with high quality but for a low or moderate price. Correspondingly, companies have to adjust their new product developments and production systems to market requirements. This can be achieved by the Target Costing approach, a tool that is applied in more and more companies. Therefore, the aim of this essay is to explain the goals and method of Target Costing. It starts with giving some background information about Target Costing and its historical development. Chapter three describes the goals of Target Costing. Then, the Target Costing process is explained in detail. Finally, this essay concludes by discussing that Target Costing is an effective cost management tool for developing new products according to market requirements. ...]
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.
Book Synopsis The Target Costing Approach by : Hendrik Vedder
Download or read book The Target Costing Approach written by Hendrik Vedder and published by GRIN Verlag. This book was released on 2008-12-09 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2007 in the subject Business economics - Controlling, grade: 1,3, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, course: Vertiefung Controlling, language: English, abstract: Contemporary times are characterized by quick, dynamic, and continuing changes in the economy. Therefore, companies have to adapt flexibly and innovatively to these changes in order to stay competitive and cope with the increasing pressure of competition. In particular, Asian and East-European competitors gain market share by offering products of better quality than in earlier times and for lower costs. Under these conditions, costs represent a fundamental factor for the success of western companies. Accordingly, management and employees have to fully exploit the potential that cost management and reduction measures offer. However, costs are not the only buying decision criterion. Customers expect products with high quality but for a low or moderate price. Correspondingly, companies have to adjust their new product developments and production systems to market requirements. This can be achieved by the Target Costing approach, a tool that is applied in more and more companies. Therefore, the aim of this essay is to explain the goals and method of Target Costing. It starts with giving some background information about Target Costing and its historical development. Chapter three describes the goals of Target Costing. Then, the Target Costing process is explained in detail. Finally, this essay concludes by discussing that Target Costing is an effective cost management tool for developing new products according to market requirements. [...]
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 232 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.)
Book Synopsis Target Costing by : M. Bradford Clifton
Download or read book Target Costing written by M. Bradford Clifton and published by CRC Press. This book was released on 2003-09-09 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compiling practical recommendations gleaned from more than 20 years of professional experience, Target Costing: Market Driven Product Design provides numerous examples from field authorities that illustrate valuable concepts and approaches employed in the application of target costing to large-scale manufacturing operations. The authors discuss setting the target product level and subsystem level, maintaining competitive costs, applying the principles of target costing in practice, and quantifying customers' needs.
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 222 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 S
Book Synopsis Target Cost Contracting Strategy in Construction by : Daniel W.M. Chan
Download or read book Target Cost Contracting Strategy in Construction written by Daniel W.M. Chan and published by Routledge. This book was released on 2016-10-14 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: The problems inherent in the traditional design-bid-build procurement method often lead to the adversarial working relationships within the construction industry. Target cost contracts, accompanied by a gain-share/pain-share arrangement serving as a cost incentive mechanism, have emerged in the United States, the United Kingdom, Australia and Hong Kong with the aim of achieving better value for money and more satisfactory overall project performance under a collaborative working relationship. This book presents the underlying principles, practicalities and a series of short case studies of applying the target cost contracting strategy. Principles begin with the fundamentals then cover the development of target cost contracting in major countries/cities, definitions of target cost contracting, perceived benefits, potential difficulties and critical success factors for implementation. Practices include the target cost contracting approach and process in general, the key risk factors, risk assessment model, risk allocation and risk mitigation measures for target cost contracts in particular, together with a conceptual framework for the performance measurement of target cost contracts. Several short real-life case studies from the United Kingdom, Hong Kong, Australia and New Zealand are provided for further illustration. The book will appeal to a wide spectrum of readers from industrial practitioners to undergraduate students, researchers and academics interested in construction contracts and procurement methods.
Book Synopsis Cost Management Through Product Design by : Yasemin Zengin Karaibrahimoglu
Download or read book Cost Management Through Product Design written by Yasemin Zengin Karaibrahimoglu and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study is to explore the role of target costing in managing product costs while promoting quality specifications that will meet customer requirements. In addition, it aims to develop a target costing module that will simplify implementation of target costing especially in small and medium enterprises (SMEs). Tools of operations management such as quality function deployment (QFD) and value engineering (VE) have been considered and evaluated in terms of their integration into the target costing. In order to investigate the total effect, an implementation of the QFD deployment-target costing process (QFD-TC process) was conducted in a small manufacturing company. Previous studies on target costing were mostly conducted in lead companies. This study focuses on implementation of the QFD-TC process in SMEs. Overall, it was found that the QFD-TC process was an essential technique in managing the costs of both a product and the overall production process. Combining target costing with QFD and VE techniques provides companies with a competitive cost advantage.
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.
Book Synopsis The Role of Supply Management in Target Costing by : Lisa M. Ellram
Download or read book The Role of Supply Management in Target Costing written by Lisa M. Ellram and published by . This book was released on 1999 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Network Security and Its Impact on Business Strategy by : Ionica Oncioiu
Download or read book Network Security and Its Impact on Business Strategy written by Ionica Oncioiu and published by Business Science Reference. This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book examines the impact of m-commerce, m-learning, and m-knowledge management technologies on organizations, such as online stores, higher education institutions, multinational corporations, and health providers"--
Book Synopsis Cost Accounting Fundamentals by : Steven M Bragg
Download or read book Cost Accounting Fundamentals written by Steven M Bragg and published by Accountingtools, Incorporated. This book was released on 2022-02-23 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost accounting is an essential management tool that can uncover profitability improvements and provide support for key business decisions. Cost Accounting Fundamentals shows how to improve a business with constraint analysis, target costing, capital budgeting, price setting, and cost of quality analysis. The book also addresses the essential tasks of inventory valuation and job costing, and shows how to create a cost collection system for these activities. In short, this book contains the essential tools needed to foster more profitable decision-making by management.
Book Synopsis Innovations in Competitive Manufacturing by : Paul M. Swamidass
Download or read book Innovations in Competitive Manufacturing written by Paul M. Swamidass and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: Innovations in Competitive Manufacturing is an examination of manufacturing innovations - both technical and knowledge-based. Over the recent past, technology has created dramatic changes in manufacturing. As a result, the book focuses on the use of technology in gaining competitive advantage in global manufacturing. Forty topics are surveyed in the book, organized into thirteen chapters. Each topic is a carefully written account by one or more leading researchers in that area. This is the first systematic examination of the recent innovations in manufacturing strategy and technology. In addition to providing an understanding of these manufacturing innovations, the book underscores the strategic importance of creating and sustaining the technological resources to ensure a stable manufacturing economic base. The book's purpose is to examine the elements that make today's manufacturers successful. Many examples from industry throughout the book will enable the reader to appreciate and comprehend the concepts presented in the article. In addition to the technical and innovative information, implementation issues concerning new ideas and manufacturing practices are explored within the topical discussions. Four in-depth descriptions of real-life cases provide illustration of key principles. The book has been constructed as a reference tool for manufacturing researchers, students, and practitioners. Hence, after reading the introduction `Innovation in Competitive Manufacturing: From JIT to E-Business', any section or topic in the book can be consulted and/or read in any sequence the reader may choose.
Book Synopsis Japanese Cost Management by : Yasuhiro Monden
Download or read book Japanese Cost Management written by Yasuhiro Monden and published by World Scientific. This book was released on 2000 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the systems of cost reduction that originated in Japan. These are mostly new systems that did not exist in western practices before they were utilized in Japan. The book also presents the Japanese ways of carrying out the globally popular cost reduction practices.(1) It describes the strategic cost management conducted by top management through alliances between companies and/or between government and industry.(2) It shows the functional cost reduction systems along the various phases of the product life cycle, as follows: R&D ? Product development ? Manufacturing ? Administration and indirect operations(3) It conducts some humanistic or behavioral aspects of Japanese cost reduction systems.
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.
Book Synopsis Cost Management in Supply Chains by : Stefan Seuring
Download or read book Cost Management in Supply Chains written by Stefan Seuring and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supply Chain Management and Cost Management are important developments helping companies to respond to increased global competition and demanding customer needs. Within the 23 chapters of the book, more than 35 authors provide insights into new concepts for cost control in supply chains. The frameworks presented are illustrated with case studies from the automotive, textile, white goods, and transportation industry as well as from retailing. Academics will benefit from the wide range of approaches presented, while practitioners will learn from the examples how their own company and the supply chains which they compete in, can be brought to lower costs and better performance.
Book Synopsis Essentials of Cost Management by : Catherine Stenzel
Download or read book Essentials of Cost Management written by Catherine Stenzel and published by John Wiley & Sons. This book was released on 2003-01-24 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: An accessible, practical survey of cost management methods Essentials of Cost Management provides an unbiased survey and explanation of the cost management approaches and methods currently available for immediate application in day-to-day activities. Rather than advocate a particular method, this book assists readers in choosing the best approach or blend of cost management strategies to address specific business problems. The expert authors also discuss cutting-edge topics such as target costing, capacity management, and activity-based costing/management.
